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Halder Venture Ltd.

BSE: 539854 Sector: Others
NSE: N.A. ISIN Code: INE115S01010
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Halder Venture Ltd. (HALDERVENTURE) - Auditors Report

Company auditors report

INDEPENDENT AUDITORS REPORT

To The Members of Halder Ventures Limited Report On the Standalone FinancialStatement

We have audited the accompanying standalone financial statements of M/S HalderVentures Limited which comprise the Balance Sheet as at March 31 2017 the Statementof Profit and Loss and the Cash Flow Statement for the year then ended and a summary ofsignificant accounting 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 preparation ofthese (Standalone) financial statements that give a true and fair view of the financialposition financial performance 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. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding 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 misstatements whether due to fraudor error.

Auditor's 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 misstatements.

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 the financialstatements that give a true and fair view in order to design audit procedures that areappropriate 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 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 auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion 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:

i. In the case of the Balance Sheet of the state of affairs of the Company as at March31 2017;

ii. In the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date;

iii. Cash Flow Statement for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")as amended issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the "Annexure A" a statement on the mattersspecified 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 accounts 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 accounts.

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 written representations received from the directors as on March 312017 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2017 from being appointed as a director in terms of Section 164 (2) of theAct.

e. In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014

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. There were no amounts which required to be transferred by the Company to theInvestor Education and Protection Fund.

iv. The Company has provided requisite disclosures in its financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8 November2016 to 30 December 2016 and these are in accordance with the books of accountsmaintained by the company. Refer to Note No-14 to the financial statement.

g. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B".

For SEN & RAY

Chartered Accountants

(Firm's Registration No.303047E)

Sd/-

Soumik Ray (Partner)

Membership No.122465 Date: June 21 2017

ANNEXURE A - REPORT UNDER THE COMPANIES (AUDITORS' REPORT)

ORDER 2016.

Referred to in of our report of even date.

In terms of the information and explanations sought by us and given by the company andthe

books and records examined by us in the normal course of audit and to the best of ourknowledge

and belief we state that: -

i. In respect of its Fixed Assets

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

b. The Fixed Assets have been physically verified by the management on the last date ofthe financial year. Based on the Fixed Asset verification documents received form theentity no material discrepancies

c. There is no immovable property held by the company therefore the provisions ofclause 3 (i)(c) of the Order are not applicable to the Company

ii. In respect of the Inventories

a. The management has conducted physical verification of inventory as on the last dateof the financial year.

b. The discrepancies noticed on physical verification of the inventory as compared tobooks records which has been properly dealt with in the books of account were not material

iii. The Company has not granted any loans secured or unsecured to companies firmsLimited Liability partnerships or other parties covered in the Register maintained undersection 189 of the Act. Accordingly the provisions of clause 3 (iii) (a) to (c) of theOrder are not applicable to the Company and hence not commented upon.

iv. In our opinion and according to the information and explanation given to us inrespect of loans investments guarantees and security the provisions of section 185 and186 of the Companies Act 2013 have been complied with.

v. The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from the public are not applicable.

vi. As informed to us the maintenance of Cost Records has not been specified by theCentral Government under sub section (1) of section 148 of the Act in respect of theactivities carried outby the Company

vii. a.) According to information and explanations given to us and on the basis of ourexamination of the books of account and records the Company has been generally regularin depositing undisputed statutory dues including Provident Fund Employees

State Insurance Income-Tax Sales tax Service Tax Duty of Customs Duty of ExciseValue added Tax Cess and any other statutory dues with the appropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of the above were in arrears as at March 31 2017 for a period of morethan 6 months from the date on when they become payable.

b) According to the information and explanation given to us there are no dues ofincome tax sales tax service tax duty of customs duty of excise value added taxoutstanding on account of any dispute

viii. According to the information and explanations given to us the Company has nottaken any loan either from financial institutions or from the government and has notissued any debentures.

ix. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not raised money by way of initial public offeror further public offer including debt instruments and term Loans. Accordingly theprovisions of clause 3 (ix) of the Order are not applicable to the Company and hence notcommented upon.

x. Based upon the representation letter received and explanations given by themanagement we report that no fraud by the Company or on the company by its officers oremployees has been noticed or reported during the year.

xi. Based upon the audit procedures performed and the information and explanationsgiven by the management no Managerial Remuneration has been paid or provided.Accordingly the provisions of clause 3 (xi) of the Order are not applicable to theCompany and hence not commented upon.

xii. In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 3 (xii) of the Order are not applicable to the Company.

xiii. Based upon the audit procedures performed and according to the information andexplanations given to us All transactions with related parties are in compliance withsections 177 and 188 of Companies Act 2013 where applicable and the details have beendisclosed in the Financial statements etc. as required by the applicable accountingstandards.

xiv. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3 (xiv) of the Order are not applicable tothe Company and hence not commented upon.

xv. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (xv) ofthe Order are not applicable to the Company and hence not commented upon.

xvi. In our opinion the company is not required to be registered under section 45 IAof the Reserve Bank of India Act 1934 and accordingly the provisions of clause 3 (xvi)of the Order are not applicable to the Company and hence not commented upon.

For SEN & RAY

Chartered Accountants

(Firm's Registration No.303047E)

Sd/-

Soumik Ray

(Partner)

Membership No.122465

Place: Kolkata

Date: June 21 2017

ANNEXURE-B

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 HalderVenture Limited ("the Company") as of March 31 2017 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

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 Reportingissued by the Institute of Chartered Accountants of India". These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such 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 included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of

internal control based on the assessed risk. The procedures selected depend on theauditor's judgments including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error.

We believe that the audit evidence I/we have obtained is sufficient and appropriate toprovide a basis for my /our audit opinion on the Company's internal financial controlssystem over 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 (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) 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 authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material 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.

Disclaimer of Opinion

Framework for Internal Financial Control over financial reporting not established butdoes not impact the audit opinion on Financial Statement.

According to the information and explanation given to us the Company has notestablished its internal financial control over financial reporting on criteria based onor considering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Control over Financial Reporting issued by the Institute ofChartered Accountants of India. Because of this reason we are unable to obtain sufficientand appropriate audit evidence to provide a basis for our opinion whether the Company hadadequate Internal Financial Control

over financial reporting and whether such internal financial controls were operatingeffectively as at March 31 2017. We have considered the disclaimer reported above indetermining the nature timing and extent of audit test applied in our audit of thefinancial statement of the Company and the disclaimer does not affect our opinion on thefinancial statement of the Company.

For SEN& RAY

Chartered Accountants

(Firm's Registration No.303047E)

Sd/-

Soumik Ray (Partner)

Membership No.122465

Date: June 21 2017