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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

To the Members of HALDER VENTURE LIMITED

Report on the standalone Financial Statements

We have audited the accompanying standalone financial statements of M/S HALDERVENTURE LIMITED("the company") which comprise the Balance Sheet as at 31stMarch 2016 the Statement of Profit and Loss and the Cash Flow Statement for the yearthen ended and a summary of the significant

accounting policies and other explanatory information which we have signed underreference to this report.

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 Act2013("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)Rules2014. referred to in sub-section (3C) of section 211 of the CompaniesAct 1956 ("the Act"). The responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of theassets of the company and for preventing and detecting frauds and other irregularitiesselection and application of appropriate accounting policies making judgments of adequateinternal financial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records. relevant to the preparation and presentation ofthe financial statements that 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 matter 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 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 anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by the Managementas well as evaluating 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:

(a) In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2016;

(b) In the case of the Statement of Profit and Loss of the Profit of the Company forthe year ended on that date.

(c) Cash Flow Statement for the year ended on that date.

Reports 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 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 Sheetthe 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)Rules2014.

(e) On the basis of written representations received from the directors as on 31stMarch 2016 taken on record by the Board of Directors none of the directors aredisqualified as on 31st March 2016 from being appointed as a director interms of section 164(2) of the Act.

(f) 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 "A". Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

(g) With respect to the others matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies(Audit and Auditors Rules2 014in ouropinion and to the best of our information and according to the explanations given to us;

i. The Company does not have any pending litigations which would effect its financialposition in its financial statements.

ii. The company did not have any material foreseeable losses on long term contractsincluding derivative contracts;

iii. There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

2. As required by the Companies (Auditors Report) Order 2016("theorder")issued by the Central Government of India in terms of sub section ( 11) ofsection 143 of the Companies Act 2013 we give in the Annexure a statement on the mattersspecified in paragraphs 3 and 4 of the Order.

For A Saraogi & Associates

Chartered Accountants

Firm Registration No:322993E

Sd/-

Anneel Saraogi)

Partner

Membership No.057545

Place : Kolkata

Dated : The 27th day of May2016

ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1(f) under 'Report on other Legal and Regulatory Requirementssection of out report of even date)

Report on the Internal Financial Controls under Clause (1) of Sub- section 3 Section ofthe Companies Act 2013 ("the Act")

We have audited the internal financial controls reporting over financial reporting ofHALDER VENTURE LTD ('the Company') as of 31st March2016 in conjunction withour audit of the standalone financial statements of the Company for the year ended on thatdate.

Management's Responsibility for Internal Financial Controls

The Company's managements is responsible for and maintaining internal financialcontrols. These responsibilities include the design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of its business including adherence to company's policiesthe safeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Company Act 2013.

Auditor's Responsibility

Our responsibility is to express an opinion in 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 section 143 (10) of the Companies Act 2013 to the extentapplicable to an audit internal financial controls both applicable to an audit InternalFinancial Controls and both issued by the Institute of Chartered Accountants of India.Those Standards and the Guidance 168 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 performingprocedures to obtain evidence about the adequacy of the internal financial controls systemover financial reporting and their operating effectiveness. Our audit of internal controlsover financial reporting included obtaining an understanding of internal financialcontrols over financial reporting assessing the risk that a material weakness exists andtesting and evaluating the design and operating effectiveness of internal control based onthe assessed risk. The procedures selected depend on the auditor's judgement includingthe assessment of the risk of material misstatement of the financial statements whetherdue to fraud or error. We believe that the audit evidence I/ we have obtained issufficient and appropriate to provide a basis for our audit opinion on the Company'sinternal financial controls system over financial reporting.

Meaning of 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 statement for external purposes in accordance with generallyaccepted accounting principles. A company's internal control over financial reportingincluding those policies and procedures that (1) pertain to the maintenance of recordthat in reasonable detail accurately and fairly reflect the transactions and dispositionof the assets of the company; (2) provide reasonable assurance that transaction arerecorded necessary to permit preparation of financial statements in accordance withgenerally accepted accounting principles and that receipts and expenditures of thecompany are being made only in accordance with Authorisations of management and directorsof the company; (3) provide reasonable assurance regarding prevention or timely detectionof unauthorised 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 misstatement due to error or fraud may occur and not be detected. Alsoprojection of any evaluation of the internal financial controls over financial reportingto future periods are subject to the risk that the internal financial control overfinancial reporting may become inadequate because of changes in conditions or that thedegree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our knowledge and according to the explanations given tous the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at 31st March 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in Guidance Note on Audit of InternalFinancial Controls over Financial Reporting issued by the Institute of CharteredAccountants Of India.

For A Saraogi & Associates

Firm Registration Number 322993E

Chartered Accountants

Sd/-

Anneel Saraogi

Partner

Membership Number 057545

Place: Kolkata

Dated: 27/05/2016

Annexure "B" to the Independent Auditors' Report

(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements'section of our report of even date)

(i) Based on our scrutiny of the Company's books of accounts and other records andaccording to the information and explanations received by us from the management we areof the opinion that the question of commenting on maintenance of proper records of fixedassets physical verification of fixed assets and any substantial sale thereof does notarise since the company had no fixed assets as on 31st March2016 nor any timeduring the financial year ended 31st March2016.

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

(b) The procedure of physical verification of inventories followed by themanagement is reasonable and adequate in relation to the size of the company and thenature of its business.

(c) The company is maintaining proper records of inventory. The discrepanciesnoticed on verification between the physical stocks and the book records were notmaterial.

(iii) (a) The company has not granted loans or advances in the nature of loansto parties covered in the register maintained under section 189 of the Companies Act2013. Hence the question of reporting whether the terms and conditions of such loans areprejudicial to the interest of the company whether reasonable steps forrecovery/repayment of over dues of such loans are taken does not arise.

(iv) In our opinion and according to the information's and explanations given to usthe Company has complied with the provisions of section 185 and 186 of the Companies Act2013 in respect of grant of loans making investments and providing guarantee asapplicable .The Company has not granted any security in terms of section 185 and 186 ofthe Companies Act2013.

(v) In our opinion and according to the information and explanation given to us thecompany has not accepted any deposits from public as with the provision of section 73 ofthe Companies Act 2013 and the Companies (acceptance of deposits) rules 1975 with regardto the deposits accepted from the public.

(vi) According to the information and explanations provided by the management thecompany is not engaged into Production mining etc.Hence the provisions of sub section(1) of section 148 of the Companies Act is not applicable to the company.

(vii) (a) The company is regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund investor education protection fundemployees' state insurance income tax sales tax wealth tax excise duty cess and othermaterial statutory dues applicable to it.

(b) In our opinion and according to the information and explanation given to us noundisputed amounts payable in respect of income tax wealth tax sales tax excise dutycustoms duty and cess were in arrears as at 31-03-2016 for a period of more than sixmonths from the date they become payable.

(c) According to the information and explanation given to us there are no dues ofincome tax wealth tax sales tax excise duty customs duty and cess which have not beendeposited on account of any dispute.

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted the repayment of loans or borrowings to financialinstitutions government banks and dues to debenture holders.

(ix) In our opinion and according to the information and explanation given to us thecompany has not borrowed funds from financial institution during the year covered by ouraudit and the immediately preceding financial year. The Company has not raised moneys byway of initial public offer or further public offer (including debt instruments).

(x) According to the information and explanation given to us by the management wereport that no fraud by the company and no material fraud on the Company by its officersor employees has been noticed or reported during the course of our audit.

(xi) During the year no managerial remuneration has been paid or provided.

(xii) The company is not a Nidhi Company and hence reporting under clause (xii)of theCARO order is not applicable.

(xiii) In our opinion and according to the information's and explanations given to usby the Company is in compliance with section 188 and 177 of the Companies Act2013 whereapplicable for all the transactions with related parties and the details of related partytransactions have been disclosed in the financial statements etc as required by theapplicable accounting standards.

(xiv) During the year the company has not made any preferential allotment or privateplacement of shares or fully or party convertible debentures hence reporting under clause(xiv) of CARO 2016 is not applicable to the Company.

(xv) In our opinion and according to the information and explanations given to usduring the year the company has not entered into any non-cash transactions with directorsor directors of its holding subsidiary or associate company or persons connected withthem hence provisions of section 192 of the Companies Act2013 are not applicable.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For A Saraogi & Associates

Chartered Accountants

Firm Registration No:322993E

Sd/-

(Anneel Saraogi)

Partner

Membership No.057545

Place: Kolkata

Dated: The 27th day of May2016