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Continental Securities Ltd.

BSE: 538868 Sector: Financials
NSE: N.A. ISIN Code: INE183Q01012
BSE LIVE 11:17 | 12 Sep Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.49
PREVIOUS CLOSE 6.49
VOLUME 495
52-Week high 7.60
52-Week low 6.40
P/E 38.18
Mkt Cap.(Rs cr) 2.11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.49
CLOSE 6.49
VOLUME 495
52-Week high 7.60
52-Week low 6.40
P/E 38.18
Mkt Cap.(Rs cr) 2.11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Continental Securities Ltd. (CONTSECURITIES) - Auditors Report

Company auditors report

TO THE MEMBERS OF M/S CONTINENTAL SECURITIES LIMITED: Report on the FinancialStatements

We have audited the accompanying financial statements of Continental Securities Limited("the Company") which comprise the Balance Sheet as at March 312015 theStatement of Profit and Loss and Cash Flow Statement for the year the Ended and a summaryof significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in sub-Section (3C) ofSection 211 of the Companies Act 1956 ("the Act") read with the GeneralCircular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respectof Section 133 of the Companies Act2013. This responsibility includes the designimplementation of internal control relevant to the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors' 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 issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the 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 the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating 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.

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 atMarch 312015;

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

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

Report on Other Legal and Regulatory Requirements

1. As Required by the Companies (Auditor's Report) Order 2015 ("the Order")as amended issued by the Central Government of India in terms of Subsection^) 0f Section143 of the Act We give in the Annexed a statement on the matters specified in paragraphs4 and 5 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 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 7 of theCompanies (Accounts)Rules 2014 .

e. On the basis of written representations received from the directors as on 31st

March 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 of the company interms of Section 164(2) of the Act.

f. With respect to the other matters to be included in the Auditors Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules and to our best ofinformation and according to the explanations given to us :

(i) The company has disclosed pending litigations which would impact it financialposition .

(ii) The company did not have any long term contracts including derivatives contractsfor which there were any material foreseeable losses .

(iii) There has been no delay in transferring amounts which were required to betransferred to the investor education and protection fund by the company .

Place :- Jaipur For R.P.Khandelwal& Associates
Date:- 30th May 2015 Chartered Accountants
FRN 001759C
R.P Khandelwal
(Partner)
M.No 071002

ANNEXURE TO THE AUDITOR'S REPORT

[Referred to in our report of even date to the Member of Continental

Securities Ltd ]:

(i) (a) The Company is in the process of compiling fixed assets records to show fullparticulars including quantitative details and situation of fixed assets.

(b) We were informed that all major items of fixed assets were physically verified bythe management at the end of the year and that no discrepancy was noticed on suchverification which on account of proper records being still under compilation could notbe verified.

(ii) (a) The Management of Company has conducted physical verification of inventory atreasonable intervals.

(b) In our opinion the procedures of physical verification of stocks followed by themanagement of Company are reasonable and adequate in relation to the size of the Companyand the nature of its business.

(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 Companies Act 2013 . Accordingly the clause 3(iii)(a) and 3 (iii)(b) of the Order are not applicableto the Company.

(iv) In our opinion and according to information and explanation given to us ; there isadequate internal control system commensurate with the size of the Company and the natureof its business fixed assets and with regard to loans given . Further on the basis of ourexamination of books and records of the Company and according to the information andexplanations given to us we have not observed any continuing failure to correct majorweaknesses in the aforesaid internal control system.

(v) The Company has not accepted any deposited as defined in the Companies(AcceptanceOf Deposits) Rules 2014.Accordingly the provisions of Clause 3(v) of the order are notapplicable to the Company.

(vi) According to information and given to us The central government has notprescribed maintenance of cost records under section (1) one of section 148 of thecompany's act 2013.

a. According to the information and explanation given to us the company is generallyregulars in depositing with appropriate authorities undisputed

statutory dues to company had no areas of such outstanding statutory dues as at 31stmarch 2015 for a pried more then six month from the date they become payable.

b. According to the information and explanation given to us the company has nodisputed outstanding statutory dues as at 31st march 2015

c. According to the information and explanation given to us the amount which werereacquired to be transferred to the investor Education and Protection fund and accordancewith the relevant provision of the company's Act1913 and rules there under has beentransfer to such funds within time .

(vii) The company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses during the financial year end in the immediatelypreceding financial year.

(viii) According to the information and explanation given to us the Company has notdefaulted in the repayments of dues to financial institution bank or debenture holderduring the year

(ix) According to the information and explanation given to us the Company has notgiven any guarantee for loans taken by others from bank or financial intuitions during theyear.

(x) According to the information and explanation given to us the Company has appliedterm loans for the purpose for which the loans were obtained.

(xi) According to the information and explanation given to us no fraud on or by theCompany has been noticed or reported during the year review.

Place :- Jaipur For R.P.Khandelwal& Associates
Date:- 30th May 2015 Chartered Accountants
FRN 001759C
R.P Khandelwal
(Partner)
M.No 071002

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