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Haryana Capfin Ltd.

BSE: 532855 Sector: Financials
NSE: N.A. ISIN Code: INE928H01019
BSE LIVE 14:13 | 13 Dec 50.00 -1.00
(-1.96%)
OPEN

50.90

HIGH

56.50

LOW

50.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 50.90
PREVIOUS CLOSE 51.00
VOLUME 2248
52-Week high 56.50
52-Week low 18.15
P/E 16.34
Mkt Cap.(Rs cr) 26
Buy Price 49.10
Buy Qty 100.00
Sell Price 50.00
Sell Qty 133.00
OPEN 50.90
CLOSE 51.00
VOLUME 2248
52-Week high 56.50
52-Week low 18.15
P/E 16.34
Mkt Cap.(Rs cr) 26
Buy Price 49.10
Buy Qty 100.00
Sell Price 50.00
Sell Qty 133.00

Haryana Capfin Ltd. (HARYANACAPFIN) - Auditors Report

Company auditors report

TO THE MEMBERS OF HARYANA CAPFIN LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of HARYANA CAPFIN LIMITED("the Company") which comprise the Balance Sheet as at 31 March 2017 thestatement of profit and loss (including other comprehensive income) and the statement ofcash flows for the year then ended and a summary of significant accounting policies andother explanatory information.

Management's Responsibility for the Financial Statements

The Management is responsible for the matters stated in Section 134(5) of the CompaniesAct 2013 ("the Act") with respect to the preparation of these financialstatements that give a true and fair view of the financial position financial performanceincluding other comprehensive income 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 relevant rules issued thereunder.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

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 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 anopinion on whether the Company has in place an adequate internal financial controls systemover financial 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 Management 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 financial statement

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statement give the information required by the Act inthe manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31 2017 the profit/loss 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 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 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 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 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.

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 B".

g. 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) As informed to us the Company does not have any pending litigation which wouldimpact its financial position.

ii) The Company did not have any long-term contract 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

iv) The Company had provided requisite disclosures in its financial statements as toholding as well as dealing in specified bank notes during the period from 8th November2016 to 30th December 2016 and these are in accordance with the books of accountsmaintained by the Company. Refer Note 19 to the financial statements.

For A M A A & Associates
Chartered Accountants
Firm Registration no. 013066C
Mukesh Sharma
Place: New Delhi Partner
Date : 26th May 2017 Membership No. 505453

Annexure - "A" to the Independent Auditors' Report

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: -

1. (a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) Fixed assets have been physically verified by the management at regular intervals;as informed to us no material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and based on ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

2. The Company has no inventories hence clause (a) (b) and (c) of paragraph 2 of theorder are not applicable.

3. The company has not granted loan to companies firms Limited Liability Partnershipsor other parties covered in the register maintained under section 189 of the Act. henceclause (a) and (b) of paragraph 3 of the order are not applicable to the Company.

4. In respect of loans investments guarantees and security the provisions of section185 and 186 of the Companies Act 2013 have been complied with.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits in contravention of Directives issued by ReserveBank of India and the provisions of section 73 to 76 or any other relevant provisions ofthe Act and the rules framed there under where applicable . No order has been passed bythe Company Law Board or National Company Law Tribunal or Reserve Bank of India or anycourt or any other tribunal.

6. It has been explained to us that the maintenance of cost records has not beenprescribed under Section 148(1) of the Act.

7. (a) According to the information and explanation given to us and based on therecords of the Company examined by us the company is regular in depositing withappropriate authorities undisputed statutory dues including Provident Fund InvestorEducation Protection Fund Employees' State Insurance Income Tax Sales Tax Wealth TaxService Tax Customs Duty Cess and other material statutory dues applicable to it. Thecompany did not have any dues on account of duty of excise.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of Income Tax Wealth Tax Service Tax Sales Tax Custom Duty andcess were in arrears as at 31st March 2017 for a period of more than six months from thedate they became payable.

8. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion the Company has not defaulted in repayment of dues toa Financial Institution Bank Government or dues to debenture holders.

9. The Company has not raised moneys by way of initial public offer or further publicoffer (including debt instrument).

10. Based upon the audit procedures performed and according to the information andexplanations given to us no fraud by the Company or any fraud on the Company by itsofficers or employees has been noticed or reported during the course of our audit thatcauses the financial statements to be materially misstated.

11. The managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of Section 197 read with Schedule V to theCompanies Act 2013.

12. The Company is not a Nidhi Company hence this clause is not applicable.

13. 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.

14. The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

15. The Company has not entered into non-cash transactions with Directors or personsconnected with him accordingly the provisions of section 192 of Companies Act 2013 arenot applicable to the Company.

16. The company is registered under section 45-IA of the Reserve Bank of India Act1934.

For A M A A & Associates
Chartered Accountants
Firm Registration no. 013066C
Mukesh Sharma
Place: New Delhi Partner
Date : 26th May 2017 Membership No. 505453

Annexure - "B" to the Independent Auditors' Report

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 HARYANACAPFIN LIMITED ('the Company') as of 31st March 2017 in conjunction with our audit of thestandalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls. These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business including adherence tocompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required 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 auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit 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 selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion on the Company's internal financial controls system over financialreporting.

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 of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the Company;

2. Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and Directors of the company; and

3. Provide reasonable assurance regarding prevention or timely detection ofunauthorized 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 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.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31st March 2017 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For A M A A & Associates
Chartered Accountants
Firm Registration no. 013066C
Mukesh Sharma
Place: New Delhi Partner
Date : 26th May 2017 Membership No. 505453