You are here » Home » Companies » Company Overview » GTV Engineering Ltd

GTV Engineering Ltd.

BSE: 539479 Sector: Engineering
NSE: N.A. ISIN Code: INE910R01016
BSE LIVE 15:29 | 16 Aug 22.10 -0.90
(-3.91%)
OPEN

22.15

HIGH

22.15

LOW

22.10

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 22.15
PREVIOUS CLOSE 23.00
VOLUME 10
52-Week high 34.00
52-Week low 16.70
P/E 16.62
Mkt Cap.(Rs cr) 7
Buy Price 22.10
Buy Qty 295.00
Sell Price 0.00
Sell Qty 0.00
OPEN 22.15
CLOSE 23.00
VOLUME 10
52-Week high 34.00
52-Week low 16.70
P/E 16.62
Mkt Cap.(Rs cr) 7
Buy Price 22.10
Buy Qty 295.00
Sell Price 0.00
Sell Qty 0.00

GTV Engineering Ltd. (GTVENGINEERING) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

GTV ENGINEERING LTD.

Report on the Financial Statements

We have audited the accompanying standalone financial statements of GTV EngineeringLtd. ("the Company") which comprise the Balance Sheet as at March 31 2016the Statement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant 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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due 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 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 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 but not for the purpose of expressing an opinionon whether the company has in place an adequate internal financial controls system overfinancial reporting and the operating effectiveness of such control. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation 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 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 of the state of affairs of the Companyas at 31st March 2016 and its profits 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 2015) (The Order) issued by theCentral Government of India in terms of Sub Section 11 of Section 143 (3) of the Act Wegive in the annexure a statement on the matters specified in the Paragraph 3 & 4 ofthe 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 it 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 standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e. On the basis of the written representations received from the directors as on 31stMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in terms of Section164 (2) of the Act.

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.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any and as required on long-term contractsincluding derivative contracts.

iii. The company does not need to deposit any fund to be transferred to investoreducation and protection fund in accordance with the relevant provisions of the CompaniesAct 1956 (1 of 1956).

For RATH DINESH & ASSOCIATES

Chartered Accountants

FRN: 008344C

Ajay Rath

(Partner)

M.No.075111

Place: Bhopal

Date: 28th May 2016

ANNEXURE TO THE AUDITORS' REPORT

The Annexure referred to in our Independent Auditor's report to the members of thecompany on the Standalone Financial Statements for the year ended 31st March2016 we report that

(i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets. We are informed that the management atreasonable intervals during the year has physically verified the fixed assets. No materialdiscrepancies were noticed on such verification.

(b) All the assets have been physically verified by the management during the yearaccording to programmers of periodic verification no material discrepancies were noticedon such verification in our opinion this periodicity of physical verification isreasonable having regard to the size of company and the nature of its assets.

(c) According to the information and explanations given to us. During the year thecompany has not disposed off any Plant & Machinery.

(ii) (a) The inventory has been physically verified during the year by the management.In our opinion the frequency of verification is reasonable.

(b) The procedures of verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and nature of its business.

(c) The company is maintaining proper records of inventory. No discrepancies arenoticed during physical verification.

(iii) (a) The company has not granted or taken any loan any unsecured loan from theparties covered in the register maintained under section 189 of the Companies Act 2013.Therefore Paragraph III of the Order is not applicable to the company.

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control procedure commensurate with the size of the companyand the nature of its business with regard to purchases of inventory fixed assets andwith regards to the sale of goods. During the course of our audit we have not observedany continuing failure to correct major weaknesses in internal control.

(v) According to the information and explanations given to us the company has notaccepted any deposit from the Public during the year under audit. Therefore Paragraph VIof the Order is not applicable to the company.

(vi) The provisions of maintenance of cost records under section 148 (1) of theCompanies Act 2013 are not applicable to the company.

(vii) (a) The company is regular in depositing with appropriate authorities undisputedstatutory dues including provident fund investors' education protection funds employees'state insurance income tax sales tax wealth tax custom duty excise duty cess andother material statutory dues applicable to it.

(b) According to the information and explanations given to us there were no dues ofsales tax income tax wealth tax custom duty excise duty cess which have not

been deposited on account of any dispute.

(c) The company does not need to deposit any fund to be transferred to investoreducation and protection fund in accordance with the relevant provisions of the CompaniesAct 1956 (1 of 1956).

(viii) There is no accumulated loss in the company. The company has not incurred anycash losses during the financial year covered by our audit.

(ix) In our opinion and according to the information and explanations given to us thecompany has not defaulted in repayment of dues to a financial institutions bank ordebenture holders.

(x) 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.

(xi) During the year the company has not availed any Term Loan.

(xii) According to the information and explanations given to us no fraud on or by thecompany has been noticed or reported during the course of our audit.

For RATH DINESH & ASSOCIATES

Chartered Accountants

FRN: 008344C

Ajay Rath

(Partner)

M. No. 075111

Place: Bhopal

Date: 28th May 2016