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Greencrest Financial Services Ltd.

BSE: 531737 Sector: Financials
NSE: N.A. ISIN Code: INE414C01029
BSE LIVE 15:24 | 07 Aug 57.90 0
(0.00%)
OPEN

57.90

HIGH

57.90

LOW

57.90

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 57.90
PREVIOUS CLOSE 57.90
VOLUME 2000
52-Week high 63.95
52-Week low 56.90
P/E 2895.00
Mkt Cap.(Rs cr) 2,116
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 57.90
CLOSE 57.90
VOLUME 2000
52-Week high 63.95
52-Week low 56.90
P/E 2895.00
Mkt Cap.(Rs cr) 2,116
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Greencrest Financial Services Ltd. (GREENCRESTFINAN) - Auditors Report

Company auditors report

To The Members Of Greencrest Financial Services Limited Report On The FinancialStatements

We have audited the accompanying financial statements of M/s. Greencrest FinancialServices Limited which comprise the Balance Sheet as at 31st March 2015 theStatement of Profit and Loss and the Cash Flow Statement for the year then ended and asummary of the significantaccounting policies 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)of the Companies

Act 2013 ("the Act") with respect to the preparation of these financial viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under

Section 133 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 for preventing and detecting thefrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of internal financial control that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the financial statements that give a true and fairview and are free from material misstatement whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financialstatements 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 there under. We conducted our audit in accordancewith the Standards on Auditing issued by the Institute of Chartered Accountants of India.Those Standards require that we comply with the ethical requirements and plan and performthe audit to obtain reasonable assurance about whether the financial statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures 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 control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Company’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide 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 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 stateof affairs of the Company as at 31st March 2015; b) in the case of theStatement of Profit and Loss of the profit of the Company for the year ended on thatdate and c) in the case of the Cash Flow Statement of the cash flows of the Company forthe year ended on that date.

Report On Other Legal And Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the  Annexure a statementonthemattersSpecifiedinparagraphs 3 and 4 of the Order to the extent applicable.

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 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 31March 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 Act 2013 (Audit and Auditors) Rules 2014 inour opinion and to the best of our knowledge and belief and according to the informationand explanations 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 derivatives contractsfor which there were any material foreseeable losses; iii. The Company was not required totransfer any fund into the Investors Education and

Protection Fund during the year.

For B. s. kedia & co.
Chartered Accountants
ICAI Registration No. 317159E
Place: Kolkata
Date: May 28 2015
vikash kedia
Partner
M. No. 066852

annexure to the independent auditors’ report

Referred To In Paragraph 1 Under ‘Report On Other Legal And RegulatoryRequirements’ Of Our Report Of Even Date To The Members Of Greencrest FinancialServices Limited On The Accounts Of The Company for the year ended 31st march 2015.

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

I. In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of the fixed assets.

b) As explainedx to us fixed assets have been physically verified by the managementduring year in accordance with the phased programme of verification adopted which in ouropinion provides for physical verification of all the fixed assets at intervals.According to the information and explanations given to us no material discrepancies werenoticed on suchverification

Ii. In respect of its inventory:

a) As explained to us the inventory of shares is physically verified at the end of theyear by the Management.

b) In our opinion and according to the information and explanation given to us theprocedures of physical verification of inventories followed by the Management werereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c) In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification of stocks as compared to book records.

iii. In respect of loans secured or unsecured granted to the parties covered inregister maintained under section 189 of the Companies Act 2013:

a) According to the information and explanations given to us the Company has notgranted any loans to companies firms or other parties covered in the Register maintainedunderSection 189 of the Companies Act 2013; and therefore paragraph 3(iii) of the Orderis not applicable.

iv. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase of inventory fixed assets and for the sale ofgoods (and/services). During the course of our Audit we have not observed any continuingfailure to correct major weaknesses in internal control.

v. The company has not received any public deposits during the year.

vi. As informed to us the Central Government has not prescribed maintenance of costrecords under sub-section (1) of Section 148 of the Act in respect of the activitiescarried on by the Company.

vii. In respect of statutory dues:

a) According to the records of the company and information and explanations given tous the Company has generally been regular in depositing undisputed statutory duesincluding Income-tax Tax deducted at sources Tax collected at source Professional TaxService Tax and other material statutory dues applicable to it with the appropriateauthorities.

b) According to the information and explanations given to us no undisputed amountspayable in respect of the aforesaid dues were outstanding as at March 31 2015 for aperiod of more than six month from the date of becoming payable.

c) According to the information and explanations given to us and the records of theCompany examined by us there are no dues of Income Tax TDS Service Tax and Cess whichhave not been deposited on account of any dispute.

viii. The company does not have the accumulated losses at the end of financial year.The company has not incurred any Cash losses during the financial covered by our Audit andthe immediately preceding financial year.

ix. In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to financial institutions banks anddebenture holders.

x. In our opinion and according to the information and the explanation given to usthe company has not given any guarantee for loans taken by others from banks or financialinstitutions during the year.

xi. The company has not obtained any term loan during the year so this para of orderis not applicable.

xii. To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company and no material fraud on the Company has been noticedor reported during the year.

Chartered Accountants
ICAI Registration No. 317159E
Place: Kolkata
Date: May 28 2015
vikash kedia
Partner
M. No. 066852