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CCL International Ltd.

BSE: 531900 Sector: Others
NSE: N.A. ISIN Code: INE778E01031
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VOLUME 52
52-Week high 61.85
52-Week low 21.00
P/E 8.33
Mkt Cap.(Rs cr) 40
Buy Price 0.00
Buy Qty 0.00
Sell Price 21.00
Sell Qty 213667.00
OPEN 21.00
CLOSE 21.00
VOLUME 52
52-Week high 61.85
52-Week low 21.00
P/E 8.33
Mkt Cap.(Rs cr) 40
Buy Price 0.00
Buy Qty 0.00
Sell Price 21.00
Sell Qty 213667.00

CCL International Ltd. (CCLINTER) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

CCL INTERNATIONAL LIMITED

1. Report on the Financial Statements

We have audited the accompanying financial statements of CCL International Limited("the Company") which comprise the Balance Sheet as at March 31 2016 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

2. Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation& presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

3. Auditors' Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.

4. Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Standalone financial statements gives the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:

(a) In the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2016;

(b) In the case of Statement of Profit and Loss of the profit for the year ended onthat date; and

(c) In the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

5. Report on Other Legal and Regulatory Requirement

i. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act we give in the Annexure-A a statement on the matters specified in paragraphs 3and 4 of the Order to the extent applicable.

ii. As required by Section 143(3) of the Act we report that:

a. We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purpose of our audit;

b. In our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books;

c. The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account;

d. In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Companies Act 2013 read with rule7 of the Companies (Accounts) Rules 2014; and

e. On the basis of written representations received from the directors as on March 312016 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of Section 164(2) of theAct.

f. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in "Annexure B"; and

iii. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

a. The Company does not have any litigation on its financial position.

b. The Company has not made provision as required under the applicable law oraccounting standards for material foreseeable losses if any on long-term contractsincluding derivative contracts.

c. The company was not required to deposit or pay any dues in respect of the InvestorEducation and Protection Fund during the year.

For KPMC & Associates
Chartered Accountant
Firm Reg. No. 005359C
Date: 30.05.2016
Place: Delhi
(Sanjay Mehra)
Partner
M No. 075488

Annexure to Auditors' Report

The Annexure-A referred to in our Independent Auditors' Report to the members of thecompany on the standalone financial statements for the year ended March 31 2016 wereport that:

1. In respect of Fixed Assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situations of Fixed Assets. b. The fixed assets have beenphysically verified by the management during the year and no material discrepancies werenoticed on such verification. In our opinion the frequency of verification of the fixedassets is reasonable having regard to the size of the Company and the nature of itsassets. c. The title deeds of all the immovable properties (which are included under thehead 'fixed assets') are held in the name of the Company.

2. In respect of Inventory:

a. The management has conducted physical verification of inventory at reasonableintervals during the year.

b. The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c. The Company is maintaining proper records of inventory and no material discrepanciesbetween physical inventory and book records were noticed on physical verification.

3. The Company has not granted any loan secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Act.

4. According to information and explanations given to us the Company has complied withthe provisions of section 185 and 186 of the Companies Act 2013 in respect of loansinvestments guarantees and security.

5. The Company has not accepted any deposits within the meaning of Sections 73 to 76 ofthe Act and the Companies (Acceptance of Deposits) Rules 2014 (as amended).

6. According to the information and explanations given to us pursuant to the rulesprescribed by the Central Government for the maintenance of cost records under section148(1) of the Companies Act 2013 we have broadly reviewed the cost records and are ofthe opinion that prima facie the prescribed records have been made and maintained by theCompany.

7. (i) According to the information and explanations given to us and on the basis ofexamination of the records of the Company the company is generally regular in depositingundisputed statutory dues including Income Tax TDS Sales Tax Service Tax Custom DutyExcise Duty Value Added Tax Cess and any other material statutory dues with theappropriate authorities to the extent applicable. There are no undisputed statutory duespayable for a period of more than six months from the date they become payable as at 31March 2016.

(ii) According to the information and explanations given to us there are no dues ofIncome Tax Sales Tax Wealth Tax Service Tax Custom duty Excise duty and Cess whichhave not been deposited on account of any dispute.

8. In our opinion and according to the information & explanations given to us thecompany has not defaulted in repayment of dues to bankers & financial institutions.The Company does not have any outstanding debentures during the year.

9. The Company did not raise moneys by way of initial public offer or further publicoffer (including debt instruments). In our opinion the term loans availed during the yearwere applied for the purposes for which the loans were obtained.

10. No fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the period covered by our audit.

11. The Managerial remuneration has been paid in accordance with the provisions ofsection 197 read with Schedule V to the Companies Act 2013.

12. Since the company is not a Nidhi Company this clause is not applicable.

13. According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013where ever applicable and the details have been disclosed in the Financial Statementsetc. as required by the applicable accounting standards.

14. According to the information and explanations given to us the company has not madeany preferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review.

15. According to the information and explanations given to us the company has notentered into any non-cash transactions with directors or persons connected with him andthe provisions of section 192 of Companies Act 2013 have been complied with;

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For KPMC & Associates
Chartered Accountant
Firm Reg. No. 005359C
Date: 30.05.2016
Place: Delhi
(Sanjay Mehra)
Partner
M No. 075488

Annexure-B to Auditors' Report

(Referred to in paragraph 5(ii) (f) under 'Report on Other Legal and RegulatoryRequirements' section of our report of even date)

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of CCLInternational Limited ("the Company") as of 31st March 2016 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on

Audit of Internal Financial Controls Over Financial Reporting (the "GuidanceNote") issued by the Institute of Chartered Accountants of India (the"ICAI"). These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business including adherence tocompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note")issued by ICAI and the Standards on Auditing issued byICAI and deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting were established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company's internal financial controls system overfinancial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31st March 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For KPMC & Associates
Chartered Accountant
Firm Reg. No. 005359C
Date: 30.05.2016
Place: Delhi
(Sanjay Mehra)
Partner
M No. 075488