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Chartered Capital & Investment Ltd.

BSE: 511696 Sector: Financials
NSE: N.A. ISIN Code: INE953B01010
BSE LIVE 14:03 | 11 Nov 47.00 -1.30
(-2.69%)
OPEN

47.00

HIGH

47.00

LOW

47.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 47.00
PREVIOUS CLOSE 48.30
VOLUME 25
52-Week high 55.20
52-Week low 34.80
P/E 8.06
Mkt Cap.(Rs cr) 14.15
Buy Price 45.90
Buy Qty 50.00
Sell Price 47.00
Sell Qty 45.00
OPEN 47.00
CLOSE 48.30
VOLUME 25
52-Week high 55.20
52-Week low 34.80
P/E 8.06
Mkt Cap.(Rs cr) 14.15
Buy Price 45.90
Buy Qty 50.00
Sell Price 47.00
Sell Qty 45.00

Chartered Capital & Investment Ltd. (CHARTERCAPITAL) - Auditors Report

Company auditors report

TO THE MEMBERS OF CHARTERED CAPITAL AND INVESTMENT LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of CHARTERED CAPITAL ANDINVESTMENT LIMITED ( the Company ) which comprise the Balance Sheet as at 31stMarch 2015 the Statement of Profit and Loss the Cash Flow Statement for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

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 of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.

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 there under.

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 the auditors 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 auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at 31stMarch 2015 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor s Report) Order 2015 ( the Order ) issued bythe Central Government of India in terms of sub-section(11) of section 143 of theCompanies Act 2013 we give in the Annexure a statement on the matters specified inparagraph 3 and 4 of the order.

2. 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 purposes 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 the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms of Section164 (2) of the Act.

(f) 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:

i. The Company has disclosed the impact of pending litigations as at 31stMarch 2015 on its financial position in its financial statement Refer Note 23 to theFinancial Statements.

ii. The Company did not have any pending long-term contracts including derivativecontracts for which there were any material foreseeable losses under the applicable law oraccounting standards.

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For Mayank Shah & Associates
Chartered Accountants
Firm Registration No: 106109W
M. S. SHAH
Ahmedabad Partner
May 29 2015 Membership No. 44093

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in Paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" section of our report of even date)

(i) (a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets;

(b) The fixed assets were physically verified during the year by the Management inaccordance with a regular programme of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals having regard to thesize of the company nature and value of its assets .According to the information andexplanation given to us no material discrepancies were noticed on such verification.

(ii) In respect of its inventories

(a) The Securities held as stock in trade have been verified by the Management with thestatement of holdings provided by depository participants and brokers at reasonableintervals. In our opinion the frequency of verification is reasonable.

(b) In our opinion the procedure of confirmation of securities held as stock in tradefollowed by the Management are reasonable and adequate in relation to the size of theCompany and the nature of its business;

(c) On the basis of our examination of the Company relating to securities held as stockin trade in our opinion the Company has maintained proper records of stock in trade andno material discrepancies between the book records and the statement of holding providedby brokers and other depository participants have been noticed;

(iii) The company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of the CompaniesAct. Therefore Provision of Clause (iii) (a) & (b) of the said order is notapplicable to the Company.

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business with regard to purchase of securities and fixed assets and withregard to sale of securities and services. During the course of our audit we have notobserved any major weakness in such internal control system.

(v) The Company has not accepted any deposits from the public with the meaning ofsection 73 to 76 of the Act and rules framed there under.

(vi) Company is engaged in service industry; hence clause (vi) is not applicable to thecompany.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted /accrued in the books ofaccount in respect of undisputed statutory dues including Provident Fund Employees StateInsurance Income Tax Sales Tax/ Value Added Tax Wealth Tax Service Tax Customs DutyExcise Duty and material statutory dues wherever applicable have generally been regularlydeposited during the year by the Company with the appropriate authorities. FurtherAccording to the information and explanations given to us no such undisputed amountspayable were in arrears as at 31st March 2015 for a period of more than six months fromthe date they became payable.

(b) According to the information and explanations given to us details of dues towardsIncome Tax which have not been deposited by the Company on account of disputes are asfollows

Statement of Disputed Dues

Name of the Statute Nature of the Dues Amount under dispute not yet deposited Period to which amount relates Forum where dispute is pending
(Rs.)
Income Tax Act 1961. Income Tax 311917 A.Y. 2008-09 Income tax Appellate Tribunal-Ahmedabad
Income Tax Act 1961. Income Tax 135832 A.Y. 2009-10 Income tax Appellate Tribunal-Ahmedabad
Income Tax Act 1961. Income Tax 135802 A.Y. 2010-11 Income tax Appellate Tribunal-Ahmedabad
Income Tax Act 1961. Income Tax 38277 A.Y. 2011-12 Income tax Appellate Tribunal-Ahmedabad

According to the information and explanations given to us there are no dues of SalesTax wealth tax Service Tax duty of customs duty of Excise Value Added Tax and cesswhich have not been deposited with the appropriate authorities on account of any dispute.

(c) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

(viii) The Company does not have any accumulated loss at the end of the financial yearand has not incurred cash loss during the financial year covered by our audit and in theimmediately preceding financial year;

(ix) In our opinion and according to the information and explanations given to us theCompany has not defaulted during the year in repayment of dues to a bank. Further in ouropinion and according to information and explanations given to us the Company did nothave any amount outstanding to financial institutions or debenture holders during theyear.

(x) According to the information and explanations given to us the Company has notgiven any guarantees for loan taken by others from a bank or financial institution.

(xi) The Company did not have any term loans outstanding during the year.

(xii) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstances of material fraud on or by the Company noticed or reported during the year norhave we been informed of any such case by the Management.

For Mayank Shah & Associates
Chartered Accountants
Firm Registration No: 106109W
M. S. SHAH
Ahmedabad Partner
May 29 2015 Membership No. 44093

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