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Comfort Commotrade Ltd.

BSE: 534691 Sector: Financials
NSE: N.A. ISIN Code: INE456N01019
BSE LIVE 11:39 | 08 Dec 26.45 -0.45
(-1.67%)
OPEN

26.50

HIGH

26.60

LOW

25.15

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 26.50
PREVIOUS CLOSE 26.90
VOLUME 3739
52-Week high 27.90
52-Week low 10.05
P/E 15.20
Mkt Cap.(Rs cr) 26.50
Buy Price 25.15
Buy Qty 14.00
Sell Price 26.45
Sell Qty 19.00
OPEN 26.50
CLOSE 26.90
VOLUME 3739
52-Week high 27.90
52-Week low 10.05
P/E 15.20
Mkt Cap.(Rs cr) 26.50
Buy Price 25.15
Buy Qty 14.00
Sell Price 26.45
Sell Qty 19.00

Comfort Commotrade Ltd. (COMFORTCOMTRADE) - Auditors Report

Company auditors report

To the Members of Comfort Commotrade Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Comfort Commotrade Limited("the Company") which comprise the Balance SheetasatMarch312016theStatement ProfitandLoss and the Cash Flow Statement for the year then ended and a summary of significantaccounting policies and other explanatory information.

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 preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting 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 includes the design implementation and maintenance ofinternal control relevant to the preparation and presentation of the financial statementsthat give a true and fair view and are free from material misstatement whether due tofraud or error.

Auditor’s Responsibility

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

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 misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgement including the assessment of the risks of material misstatementof the financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal control relevant to the Company’spreparation and fair presentation of the financial statements in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements.

We believe that the audit evidence we have obtained is sufficientand appropriate toprovide a basis for our audit opinion.

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:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2016; and

b) in the case of the Profit and Loss Account of the Profit for the year ended on thatdate.

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of Sub-Section (11) ofSection 143 of the Act we give in the "Annexure A" a statement on the mattersspecified in paragraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Act we report that:

a) We have obtained all the information and explanations which to the best of ourknowledge 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 Profit and Loss and Statement cash flow dealt with bythis Report are in agreement with the books of account;

d) In our opinion the Balance Sheet the Statement of Profit and Loss comply with theAccounting Standards Section 133 of the Companies Act 2013 With Rule 7 of Companies(Accounts) Rules 2014;

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 clause of Section164(2) of the Companies Act 2013;

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

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

i. There were no pending litigations which would impact the financial position of thecompany.

ii. The company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts

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

For Bansal Bansal & Co.
Chartered Accountants
FRN: 100986W
Sd/-
Jatin Bansal
Place : Mumbai Partner
Date : May 30 2016 Membership No.:135399

ANNEXURE TO INDEPENDENT AUDITOR’S REPORT

The annexure referred to in our report to the member of Comfort Commotrade Limited forthe year ended 31st March 2016 we report that:

1. In respect of its Fixed Assets :

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

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us nofixed asset has been disposed during the year and therefore does not affect the goingconcern assumption.

2. In respect of its inventories:

(a) The stock in trade of shares and securities held in the physical format has beenphysically verified and dematerialized format have been verified from the relevantstatements received from the depositories during the year by the management.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of shares and securities followed by the managementare reasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of stock of shares and securities by the management ascompared to book records.

3. According to information and explanation given to us the company has not grantedsecured or unsecured loan to companies firms or other parties covered in the registermaintained under section 189 of the Companies Act and hence sub-clause (a) and (b) ofclause (iii) of the Order are not applicable to the Company.

4. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Act with respectto the loans and investments made.

5. The company has not accepted any deposits from the public.

6. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the company

7(a) According to the information and explanations given to us and according to thebooks and records as produced and examined by us in our opinion the company is regularin depositing the undisputed statutory dues including provident fund investor education& protection fund Income Tax custom duty Value added tax cess and any otherstatutory dues as applicable with the appropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund Income Tax Sales Tax Wealth Tax Service tax dutyof customs value added tax cess and other material statutory dues were in arrears as at31st March 2016 for a period of more than six months from the date they becamepayable.

(b) According to the information and explanations given to us there are no duespayable in respect of income tax wealth tax service tax and cess which have not beendeposited with the appropriate authorities on account of any dispute.

(c) As explain to us the company does not any dues on account of investor educationand protection fund

8. According To the information and explanations given to us the company has not givenany guarantees for loan taken by others from a bank or financial institution.

9. The Company did not raise any money by way of initial public offer or further publicoffer (including debt instruments) and term loans during the year. Accordingly paragraph3 (ix) of the Order is not applicable.

10. According to the information and explanations given to us no material fraud by theCompany or on the company by its officers or employees has been noticed or reported .duringthe course of our audit

11. According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

12. In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

13. According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

14. According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

15. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

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

For Bansal Bansal & Co.
Chartered Accountants
FRN: 100986W
Sd/-
Jatin Bansal
Place : Mumbai Partner
Date : May 30 2016 Membership No.:135399

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