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Dhruva Capital Services Ltd.

BSE: 531237 Sector: Financials
NSE: N.A. ISIN Code: INE972E01014
BSE LIVE 15:14 | 31 May Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.10
PREVIOUS CLOSE 7.20
VOLUME 598
52-Week high 7.69
52-Week low 6.96
P/E 41.76
Mkt Cap.(Rs cr) 2
Buy Price 7.10
Buy Qty 402.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.10
CLOSE 7.20
VOLUME 598
52-Week high 7.69
52-Week low 6.96
P/E 41.76
Mkt Cap.(Rs cr) 2
Buy Price 7.10
Buy Qty 402.00
Sell Price 0.00
Sell Qty 0.00

Dhruva Capital Services Ltd. (DHRUVACAPSERV) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR'S REPORT

To

The Members

Dhruva Capital Services Ltd.

Udaipur (Raj.)

Report on the Financial Statements

We have audited the accompanying financial statements of Dhruva Capital Services Ltd.which comprise the Balance Sheet as at 31 March 2015 the Statement of Profit and Lossthe Cash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe 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 the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating 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 thereunder. We conducted our audit in accordancewith the Standards on Auditing specified under section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

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 financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances but not for the purpose of expressing an opinion onwhether the company has in place an adequate internal financial controls system overfinancial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's Directors as well as evaluating the overallpresentation of the financial statements.

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;

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2015;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

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

As required by the Companies (Auditor's Report) Order2015 issued by the CentralGovernment of India in term of sub-section (11) of section 143 of the Companies Act2013we give in the Annexure a statement on the matters specified in the paragraphs 3 and 4 ofthe Order to the extent applicable. As required by section 143(3) of the Act we reportthat:

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

appears from our examination of those books

c) the Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith 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 written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

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 on its financialposition in its financial statements - Refer Note No. 21 & 22 to the financialstatements .

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 required to be transferred tothe Investor Education and Protection Fund by the Company.

For B. L. PAGARIA & CO.
CHARTERED ACCOUNTANTS
(FRN : 01821C)
Sd/-
Place : UDAIPUR (B. L. PAGARIA)
Dated : 27th May 2015 PARTNER
(M.No.: 071017)

The Annexure referred to in Our Report of even date to the members of

Dhruva Capital Services Limited on the accounts of the company for the year ended 31stMarch 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

1. (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.

2. As explained to us the company is an NBFC and does not have any inventory.

3. (a) According to the information and explanations given to us and on the basis ofour examination of the books of account the Company has granted loans secured orunsecured to companies firms or other parties listed in the register maintained underSection 189 of the Companies Act 2013. There is one such party and the amount involved isRs.5592826/-.The loan is in the nature of demand loan. (b) According to the informationand explanations given to us since the nature of loan is demand loan there is no overdueamount exceeding Rs.100000/-.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories & fixed assetsand for sale of goods and services. During the course of our audit no major instance ofcontinuing failure to correct any weaknesses in the internal controls has been noticed.

5. The Company has not accepted any deposits from the public during the year and hencethis clause is not applicable.

6. As per information & explanation given by the management maintenance of costrecords has not been prescribed by the Central Government under sub-section (1) of section148 of the companies Act 2013.

7. (a) According to the records of the company undisputed statutory dues includingProvident Fund Employees' State Insurance Income-tax Sales-tax Wealth Tax ServiceTax Custom Duty Excise Duty value added tax cess to the extent applicable and anyother statutory dues have generally been regularly deposited with the appropriateauthorities. According to the information and explanations given to us there were nooutstanding statutory dues as on 31st of March 2015 for a period of more than six monthsfrom the date they became payable.

(b) According to the information and explanations given to us there is no amountspayable in respect of income tax wealth tax service tax sales tax customs duty andexcise duty which have not been deposited on account of any disputes.

(c) According to the information and explanations given to us there was no amountwhich was required to be transferred to investor education and protection fund inaccordance with the relevant provisions of companies act 1956 and rules made thereunder.

8. The Company has been registered for a period exceeding five years and hence thisclause is not applicable.

9. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank or debenture holders.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by other from banks or financial institutions.

11. Based on our audit procedures and on the information given by the management thecompany has applied the term loans for the purpose for which they have been obtained.

12. Based on the audit procedures performed and the information and explanations givento us we report that no fraud on or by the Company has been noticed or reported duringthe year nor have we been informed of such case by the management.

For B. L. PAGARIA & CO.
CHARTERED ACCOUNTANTS
(FRN : 01821C)
Sd/-
Place : UDAIPUR (B. L. PAGARIA)
Dated : 27th May 2015 PARTNER
(M.No. : 071017)