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Golechha Global Finance Ltd.

BSE: 531360 Sector: Financials
NSE: N.A. ISIN Code: INE427D01011
BSE LIVE 11:50 | 04 Sep 5.71 -0.29
(-4.83%)
OPEN

5.70

HIGH

5.71

LOW

5.70

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.70
PREVIOUS CLOSE 6.00
VOLUME 804
52-Week high 13.02
52-Week low 5.65
P/E 15.43
Mkt Cap.(Rs cr) 3
Buy Price 5.71
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.70
CLOSE 6.00
VOLUME 804
52-Week high 13.02
52-Week low 5.65
P/E 15.43
Mkt Cap.(Rs cr) 3
Buy Price 5.71
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00

Golechha Global Finance Ltd. (GOLECHGLOBFIN) - Auditors Report

Company auditors report

The Members

Golechha Global Finance Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Golechha Global FinanceLimited which comprise the Balance Sheet as at March 31 2015 the Statement ofProfit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting 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 preparation ofthese financial statements that give a true and fair view of the financial positionfinancial 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 (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of 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.

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) 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 theamounts and disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial controls relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the financial statements. We believe that the audit evidence wehave obtained is sufficient and appropriate to provide a basis for our audit opinion onthe financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 31 2015;

(b) In the case of the Profit and Loss Account of the Profit for the year endedon that date.

(c) In the case of the Cash Flow Statement of the Cash Flow for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 issued by theCentral Government of India in terms of sub-section (11) of section 143 of the Act(hereinafter referred to the "Order") and on the basis of such checks of thebooks and records of the Company as we considered appropriate and according to theinformation and explanations given to us we give in the Annexure a statement on thematters specified in paragraphs 3 and 4 of the Order.

2. 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 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 Statement of Profit and Loss and the 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 March 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 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) 2014 in our opinion and tothe best of our information and according to the explanations given to us; i. the Companydoes not have any pending litigations which would impact its financial position.

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.

For V. Goyal & Associates
Chartered Accountants
Dated: 28th day of May 2015 [Pankaj Kumar Goyal]
Partner
Membership No. 059991
Firm Regn No. 312136E

ANNEXURE TO THE INDEPENDENT AUDITORS’REPORT:

(Referred to in Paragraph 1 under section (Report on Other Legal and RegulatoryRequirements of our report of even date)

1. The company does not have any fixed asset and hence clause (i) of the Order is notapplicable.

2. The business of the company does not entail any inventories hence clause (ii) is notapplicable.

3. As informed to us the company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the register maintained under section 189 ofthe Companies Act. Accordingly the sub-clauses (a) and (b) of clause (iii) of the Orderare not applicable to the company.

4. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the company and thenature of its business. During the course of our audit we have not observed anycontinuing failure to correct major weaknesses in internal control system.

5. According to the information and explanations given to us the Company has notaccepted any deposits in terms of directives issued by Reserve Bank of India and theprovisions of Sections 73 to 76 or any other relevant provisions of the Companies Act andthe rules framed there under.

6. Maintenance of Cost Records specified by Central Government under sub section (i) ofSection 148 is not applicable to the company.

7. (i) The company is generally regular in depositing undisputed statutory duesincluding provident fund employees state insurance income tax sales tax wealth taxservice tax duty of customs duty of excise value added tax cess and any otherstatutory dues with the appropriate authorities and we have been informed that there areno arrears of outstanding statutory dues as at the last day of the financial year underaudit for a period of more than six months from the date they became payable.

(ii) According to the information and explanations given to us no undisputed amount ispayable in respect of income tax or sales tax or wealth tax or service tax or duty ofcustoms or duty of excise or value added tax or cess as at March 31 2015

(iii) In our opinion and according to the information and explanations given to us noamounts were required to be transferred to investor education and protection fund inaccordance with the relevant provisions of the Companies Act 1956 (1 of 1956) and Rulesmade thereunder.

8. The Company has no accumulated losses at the end of the financial year under audit.The company has not incurred cash losses during the financial year covered by audit and inthe immediately preceding financial year.

9. According to the information and explanations given to us the Company has notobtained any loans from financial institution or banks.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from banks or financial institutions theterms and conditions whereof are prejudicial to the interest of the Company.

11. According to the information and explanations given to us no term loans wereobtained during the year under audit.

12. Based upon the audit procedures performed and according to the information andexplanations given to us no fraud on or by the company has been noticed or reportedduring the year of our audit.

For V. Goyal & Associates
Chartered Accountants
Dated: 28th day of May 2015 [Pankaj Kumar Goyal]
Partner
Membership No. 059991
Firm Regn No. 312136E