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Corporate Courier & Cargo Ltd.

BSE: 526737 Sector: Services
NSE: N.A. ISIN Code: INE871E01018
BSE LIVE 15:40 | 15 Dec 18.35 0.35
(1.94%)
OPEN

18.45

HIGH

18.65

LOW

17.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 18.45
PREVIOUS CLOSE 18.00
VOLUME 38181
52-Week high 19.60
52-Week low 10.30
P/E 38.23
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 18.45
CLOSE 18.00
VOLUME 38181
52-Week high 19.60
52-Week low 10.30
P/E 38.23
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Corporate Courier & Cargo Ltd. (CORPORATECOURIE) - Auditors Report

Company auditors report

TO THE MEMBERS OF CORPORATE COURIER AND CARGO LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of CORPORATE COURIER AND CARGOLIMITED ("the Company") which comprise the Balance Sheet as at March31 2017 the Statement of Profit and Loss and 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 management is responsible for the matters stated in Section 134(5) of theCompanies Act 2013 ("the act") with respect to the preparation of thesestandalone financial statements that give a true and fair view of the financial position& financial performance 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 (Account) 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.

Auditors' 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 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 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 of the financialstatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made by theCompany's Directors as well as evaluating the overall presentation of the financialstatements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion 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 March31 2017 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 2016 ("the Order")issued by the Central Government of India in terms of sub

section (11) of section 143 of the Act we give in the Annexure A attached hereto astatement on the matters specified in paragraphs 3 and 4 of the Order to the extentapplicable.

2 As required by section 143(3) of the Act we report that : a. We have sought andobtained all the information and explanations which to the best of our knowledge andbelief 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 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 March31 2017 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2017 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.

g. With respect to the matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors)

Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us :

i The Company does not have any pending litigations which would impact its financialposition.

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

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

iv The Company has provided requisite disclosures in its standalone financialstatements as to holdings as well as dealings in Specified Bank Notes during the periodfrom November 8 2016 to December 30 2016 and these are in accordance with the books ofaccounts maintained by the Company. Refer Note xxx to the standalone financial statements.

For R DEVARAJAN & CO

Chartered Accountants

FRN : 102415W

S V SUBRAMANIAM

Partner

M No : 036157

Dated : May 29 2017

Place : Mumbai

ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT

(Referred to in paragraph 1 under `Report on Other Legal and Regulatory Requirements'section of our report of even date)

1. The Company did not have any assets during the year consequently sub-clauses (a)(b) and (c) of clause (i) of paragraph 3 of the order are not applicable.

2. The Company did not have any inventory consequently clause (ii) of paragraph 3 ofthe order is not applicable.

3. According to the information and explanations given to us the Company has notgranted loans secured or unsecured to Companies firms limited liability partnerships orother parties covered in the register maintained u/s 189 of the Companies Act 2013 andconsequently sub clauses (a) (b) and (c) of clause (iii) of paragraph 3 of the order arenot applicable.

4. According to the information and explanations given to us the Company has not givenany loans or made any investments or given any guarantees or security in respect of whichthe provisions of section 185 and 186 of the Companies Act 2013 are applicable.Consequently clause (iv) of paragraph 3 of the order is not applicable.

5. According to the information and explanations given to us The Company has notaccepted any deposits from the public.

6. The Central Government has not prescribed maintenance of cost records under section148(1) of the Act for any of the services rendered by the Company.

7 a According to the information and explanations given to us the provisions of theProvident Fund Act and the Employees' State

Insurance Act do not apply to the Company. According to the records of the Company andthe information and explanations given to us no undisputed amounts payable in respect ofany of the statutory dues were in arrears as at 31st March 2017 for a period of more thansix months from the date they became payable.

b According to the records of the Company and the information and explanations given tous there are no dues of Income Tax

Wealth Tax duty of Excise Value Added Tax Cess and any other statutory dues as at31st March 2017 which have not been deposited on account of any dispute.

8 According to the records of the Company and the information and explanations given tous the Company has not taken any loans or borrowings from banks financial institutionsor government nor has it issued any debentures.

9 According to the records of the Company and the information and explanations given tous the Company has not borrowed any term loan nor has raised any money by way of initialpublic offer (including debt instruments) during the year.

10 To the best of our knowledge and according to the information and explanations givento us no fraud by the Company and no material fraud on the Company by its officers oremployees has been noticed or reported during the year.

11 According to the records of the Company and the information and explanations givento us no managerial remuneration has been paid or provided during the year. Consequentlythe question of complying with the provisions of section 197 read with Schedule V to theCompanies Act 2013 does not arise.

12 The Company is not a Nidhi Company and consequently the clause (xii) of paragraph 3of the order is not applicable.

13 According to the records of the Company and the information and explanations givento us all transactions with related parties are in compliance with section 177 and 188 ofthe Companies Act 2013 and all the details have been disclosed in the financialstatements as per Accounting Standard 18.

14 According to the records of the Company and the information and explanations givento us the Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

15 According to the records of the Company and the information and explanations givento us the Company has not entered into any non cash transactions during the year underreview with its directors or person connected with them.

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

For R DEVARAJAN & CO

Chartered Accountants

FRN : 102415W

S V SUBRAMANIAM

Partner

M No : 036157

Dated : May 29 2017

Place : Mumbai

ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT

(Referred to in paragraph 2(f) under `Report on Other Legal and RegulatoryRequirements' section of our report of even date)

Report on the Internal Financial Controls over Financial Reporting under clause (i) ofsub section 3 of section 143 of the Companies Act 2013 (The Act)

We have audited the internal financial controls over financial reporting of CORPORATECOURIER AND CARGO LIMITED ("the Company") as of March 31 2017 inconjunction with our audit of the financial statements of the Company for the year endedon that 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 Reportingissued by the Institute of Chartered Accountants of India (ICAI). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Act.

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) and the Standards of Auditing issued by ICAI and deemed to beprescribed under section 143(10) of the Act to the extent applicable to an audit ofinternal financial controls both applicable to an audit of Internal Financial Controlsand both issued by ICAI. These Standards and Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively 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 effectiveness.Our audit of the internal financial controls over financial reporting included obtainingan understanding of internal financial reporting assessing the risk that a materialweakness exists and testing and evaluating the design and operating effectiveness ofinternal control based on the assessed risk. The procedures selected depend on theauditor's judgement including the assessment of the risks of material misstatements ofthe financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over the financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with the authorisationsof management and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized 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 to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2017 based on "the internalcontrol over financial reporting criteria established by the Company considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial controls Over Financial Reporting issued by the Institute of CharteredAccountants of India".

For R DEVARAJAN & CO

Chartered Accountants

FRN : 102415W

S V SUBRAMANIAM

Partner

M No : 036157

Dated : May 29 2017

Place : Mumbai