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Dynavision Ltd.

BSE: 517238 Sector: Consumer
NSE: N.A. ISIN Code: INE083E01010
BSE LIVE 19:12 | 19 Oct 68.05 3.05
(4.69%)
OPEN

68.05

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68.05

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68.05

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 68.05
PREVIOUS CLOSE 65.00
VOLUME 100
52-Week high 68.05
52-Week low 33.85
P/E 7.03
Mkt Cap.(Rs cr) 26
Buy Price 0.00
Buy Qty 0.00
Sell Price 68.05
Sell Qty 100.00
OPEN 68.05
CLOSE 65.00
VOLUME 100
52-Week high 68.05
52-Week low 33.85
P/E 7.03
Mkt Cap.(Rs cr) 26
Buy Price 0.00
Buy Qty 0.00
Sell Price 68.05
Sell Qty 100.00

Dynavision Ltd. (DYNAVISION) - Auditors Report

Company auditors report

FOR THE YEAR ENDED 31ST MARCH 2017 TO THE MEMBERS OF DYNAVISION LIMITED Report on theStandalone Financial Statements

We have audited the accompanying Standalone

Financial Statements of DYNAVISION LIMITED (‘the Company') which comprisethe Balance Sheet as at 31 March 2017 the Statement of Profit and Loss and the Cash FlowStatement for the year then ended and a summary of Significant

Policies and other explanatory information.

Management's Responsibility for the Standalone 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 Standalone

Financial Statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditors' 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 in accordance with 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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 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:-a) In the case of the Balance sheet ofthe state of affairs of the company as at 31st March 2017. b) In the case of Statement ofProfit and loss of the profit for the year ended on that date and c) In the case of CashFlow Statement of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1 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 ouropinion proper books of account as required by law have been kept by the Company so far asit appears from our examination of those books; (c) the Balance Sheet the Statement ofProfit and Loss and the Cash Flow Statement dealt with by this Report are in agreementwith 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 the Companies(Accounts) Rules 2014;

(e) on the basis of the written representations received from the Directors as on 31March 2017 and taken on record by the Board of Directors none of the Directors isdisqualified as on 31 March 2017 from being appointed as a Director in terms of Section164(2) of the Act; and (f) with respect to the adequacy of the internal financial controlsover financial reporting the Company and the operating effectiveness of such controlsrefer to our separate Report in"Annexure A".

(g) 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 as on 31st March 2017 and accordinglydisclosing the impact of the same on its financial position in its financial statementsdoes not arise.

(ii) the Company did not have any long-term contracts including derivative contractsthat requires a provision for material foreseeable losses in these financial statements;and

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

(iv) The Company has provided adequate disclosures in the financial statements as toholdings as well as dealing in Specified Bank notes during the period from November 8

2016 to December 30 2016.Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with the books of accountsmaintained by the Company and as produced to us by the management

Refer Note 14(ii)(2)

2 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 inthe Annexure "B" a statement on the matters specified in the

Paragraphs 3 and 4 of the Order to the extent applicable.

P CHANDRASEKAR
Chartered Accountants
Firm Regn. No. 000580S
Chennai S BABU
May 22 2017 Membership No. 024136
Partner

ANNEXURE "A" to The Independent Auditor's Report of even date on theStandalone Financial Statements of Dynavision Limited.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of DynavisionLimited ("the Company") as of March 31 2017 in conjunction with our audit ofthe Standalone Financial Statements of the Company for the year ended on 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 Reporting issued by the Institute ofChartered Accountants of India (ICAI). These responsibilities include the designimplementation and maintenance of adequate internal financial controls that were operatingeffectively for ensuring the orderly and efficient conduct of its business includingadherence to Company's policies the safeguarding of its assets the prevention anddetection of frauds and errors the accuracy and completeness of the accounting recordsand the timely preparation of reliable financial information as required under the

Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the

Company's internal financial controls over financial reporting based on our audit. Weconducted our audit in accordance with the Guidance Note on

Audit of Internal Financial Controls Over Financial

Reporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under Section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India.

Those Standards and the Guidance Note require that we comply with ethical requirementsand plan and perform the audit to obtain reasonable assurance about whether adequateinternal financial controls over financial reporting was established and maintained and ifsuch 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 operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the Auditor's judgment including the assessment of the risks ofmaterial misstatement of the 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 financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that : (i) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (ii) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and Directors of the company; and

(iii) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial 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 the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2017 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial

Controls Over Financial Reporting issued by the

Institute of Chartered Accountants of India.

P CHANDRASEKAR
Chartered Accountants
Firm Regn. No. 000580S
Chennai S BABU
May 22 2017 Membership No. 024136
Partner

Annexure "B" to the Independent Auditors' Report of even date on theStandalone Financial Statements of Dynavision Limited.

The Annexure referred to in Paragraph 1 under the heading "Report on Other Legaland Regulatory Requirements" of our Report of even date:

(i) (a) The Company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets; (b) These fixed assets have beenphysically verified by the Management at reasonable intervals and no materialdiscrepancies were noticed on such verification. (c) The title deeds of immovableproperties are held in the name of the Company.

(ii) The Company does not have inventory of goods hence the provisions of Para 4(ii)of the Companies (Auditors Report) 2016 are not applicable to this company..

(iii) The Company has not granted any loans to any party covered in the registermaintained under section 189 of the Companies Act 2013.

Therefore the provisions of Para 4(iii) of the

Companies (Auditors Report) 2016 are not applicable to this company

(iv) According to the information and explanations given to us the company does nothave any loans investments guarantees and security which are subject to the provisionsof Sections

185 and 186 of the Companies Act 2013.

Therefore the provisions of Para 4(iv) of the

Companies (Auditors Report) 2016 are not applicable to this company.

(v) The Company has not accepted any deposits from the public.

(vi) As explained to us and based on the information and explanation provided to us theCentral Government has not prescribed maintenance of Cost Records under Subsection (1) ofSection 148 of the Companies Act 2013.

(vii) According to the information and explanations given to us in respect of Statutorydues :

(a) The Company is regular in depositing undisputed statutory dues including

Provident Fund Income Tax Service

Tax any other Statutory Dues to the appropriate authorities and there were noundisputed amounts payable which were in arrears as at 31st March 2017 for a period ofmore than six months from the date they became payable.

(b) According to the information and explanations given to us and based on the recordsof the company examined by us there are no dues of Income tax Sales tax Wealth TaxService Tax Excise duty and cess etc which have not been deposited on account of anydispute.

(viii) The Company has not defaulted in repayment of loans or borrowing to a financialinstitution bank Government or dues to debenture holders.

(ix) The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) during the year. (x) The Company has not noticedany fraud by the Company or any fraud on the Company by its

Officers or employees or reported during the year.

(xi) The managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to the

Companies Act.

(xii) The Company is not a Nidhi Company and hence complying with the provisions of the

Nidhi Rules 2014 does not arise.

(xiii) All transactions with the related parties are in compliance with Sections 177and 188 of

Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable

Accounting Standards.

(xiv) The Company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review.

(xv) The Company has not entered into any non-cash transactions with Directors orpersons connected with him.

(xvi) The Company is not required to be registered under Section 45-IA of the ReserveBank of

India Act 1934.

P CHANDRASEKAR
Chartered Accountants
Firm Regn. No. 000580S
Chennai S BABU
May 22 2017 Membership No. 024136
Partner