You are here » Home » Companies » Company Overview » Citizen Infoline Ltd

Citizen Infoline Ltd.

BSE: 538786 Sector: Financials
NSE: N.A. ISIN Code: INE473L01018
BSE LIVE 12:37 | 02 Dec 5.80 0
(0.00%)
OPEN

5.80

HIGH

5.80

LOW

5.80

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.80
PREVIOUS CLOSE 5.80
VOLUME 100
52-Week high 8.70
52-Week low 3.70
P/E
Mkt Cap.(Rs cr) 3.13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.80
CLOSE 5.80
VOLUME 100
52-Week high 8.70
52-Week low 3.70
P/E
Mkt Cap.(Rs cr) 3.13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Citizen Infoline Ltd. (CITIZENINFOLINE) - Auditors Report

Company auditors report

To

The Members of

CITIZEN INFOLINE LIMITED

• Report on the Financial Statements

We have audited the accompanying Standalone financial statements of Citizen InfolineLimited ("the Company") and of Profit and Loss Cash Flow Statement for theyear then ended and a summary of 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 ofthese standalone financial statements that give a true and lair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act. read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from matenalmisstatement whether due to fraud or error.

• Auditor s 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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under. We conducted our audit inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement. An audit involves performing procedures to obtain audit evidenceabout the amounts and the disclosures in the financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. In making thoserisk assessments the auditor considers internal financial control relevant to theCompany's preparation of the financial statements that give a true and fair view in orderto design audit procedures that are appropriate in the circumstances. 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 standalone financial statements.

• Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give 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 of the state of affairs of the Companyas at 31 st March 2015 and its loss and its cash flows for the year ended on that date.

• Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order 2015 (The Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Companies Act 2013 we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order to Ihe extent applicable

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 standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule of theCompanies (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 no pending litigations on its financial position in its financialstatements.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

FOR BAHETI BHADADA & ASSOCIATES
CHARTERED ACCOUNTANTS
PLACE: AHMEDABAD
DATE: 22/05/2015
(B. K. BAHETI)
PARTNER
Firm Reg. NO.100865W

ANNEXURE TO THE AUDITOR’S REPORT (Referred to in paragraph 5 of our report ofeven date)

I. Fixed Assets: -

(a) The Company has maintained proper records to show full particulars includingquantitative details and situation of fixed assets.

(b) The management has physically verified all the fixed assets at the year-end. Nomaterial discrepancies have been noticed on such verification.

II. Inventory:

(a) The stocks of finished goods stores and spares have been physically verifiedduring the year by the management. In our opinion the frequency of verification isreasonable.

(b) The procedure of physical verification of stocks followed by the management isreasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

(c) No material discrepancies have been noticed on physical verification of stocks ascompared to book records.

III. Loan:

According the information and explanation given to us the company has granted loanssecured or unsecured to companies firms or their parties covered in the registermaintained under section 189 of the companies Act 2013.

(i) In our opinion the Company has granted loan to related party in violation ofprovisions of Section 189 of Companies Act 2013 during the current financial year. Theclosing amount outstanding is Rs. 9.00 Lacs.

Nos of Parties 5 (Five)
Loan Given during the year Rs. 127.03
Received back During the year Rs. 140.38
Maximum Outstanding in Year Rs. 22.35
Closing Balance Rs. 9.00

(b) According to information and explanations given to us the Company has not takenloans from any parties covered in the register maintained under section 189 of theCompanies Act 2015.

(c) In our opinion the rate of interest and other terms and conditions on which loanshave been taken from the parties listed in the register maintained under section 189 ofthe Companies Act 2015 are not. prima facie prejudicial to the interest of the Company.

IV. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the Company and thenature of its business with regard to purchases of stores raw materials includingcomponents plant & machinery equipment other goods assets and job work and withregard to the sales of goods assets and job work. To the best of our knowledge no majorweaknesses in internal control were either reported or noticed by us during the course ofour audit.

V. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposit during the current financial year.

VI. The Central Government has not prescribed for the maintenance of cost records undersub-section (1) of section 148 of the Companies Act 2013.

VII. (a) The Company is regular in depositing undisputed statutory dues includingprovident fund employees' state insurance

income tax sales tax wealth tax service tax duty of customs duty of excise valueadded tax cess and any other statutory dues with a appropriate authorities.

(b) According to the information and explanation given to us there were no undisputedamounts payable in respect of Income-Tax Wealth-Tax Sales Tax Customs Duty and ExciseDuty which have remained outstanding as at 31s' March 2015 for a period ofmore than six months from the date they became payable.

(c) The company is not required to transfer any amount to investor educational andprotection fund in accordance with provisions of Companies Act 1956 or rules made thereunder.

VIII. The Company has not incurred cash losses during the year. The Company has noaccumulated losses more than 50% of its net worth.

IX. On the basis of the verification of records and information and explanations givento us. the Company has not defaulted in repayment of dues to financial institutions orbanks.

X The Company has not given any guarantees for loans taken by others from banks andfinancial institutions during the year.

XI. Based on verification of records of the company the terms loan were applied forthe purpose for which loans were obtained.

XII. Based on the Audit procedure performed and the representation obtained from themanagement we report that no case of fraud on or by the Company has been noticed orreported during the yearll under Audit.

FOR BAHETI BHADADA & ASSOCIATES
CHARTERED ACCOUNTANTS
PLACE: AHMEDABAD
DATE: 22/05/2015
(B.K. BAHETI)
PARTNER
FirmReq. NO.100865W

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard