The Members at
Integra Capital Management Limited New Delhi
Report on the Financial Statements
We have audited the accompanying financial statements of Integra Capital ManagementLimited CIN No. L74899DL1990PLC040042 ('the company')which comprise the Balance Sheet asat 31 March 2017 the Statement of Profit and Loss the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryInformation.
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 andpresentation of these 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 the maintenance of adequate accountingrecords in accordance with the provision of the Act for safeguarding of the assets of theCompany and for preventing and detecting the frauds and other irregularities; selectionand application of appropriate accounting policies; making judgments and estimates thatare reasonable and prudent and design implementation and maintenance of adequateinternal financial control 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.
Our responsibility is to express an opinion on these financial statements based on ouraudit.
We have taken Into account ihe 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 hereunder.
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's judgment including the assessment ofthe risks of material misstatement of the financial statements whether due to fraud orerror. In making those risk assessments the auditor considers internal financial controlrelevant to the Company s preparation of the financial statements that give true and fairview In order to design audit procedures that are appropriate in the circumstances butnot for the purpose of expressing an opinion on whether the Company nas in place anadequate internal financial controls system over financial reporting and operatingeffectiveness of such controls An audit atso includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made byCompany's Directors as well as evaluating the overall presentation of the financialstatements.
W8 believe that the audit evidence we have obtained is su'ficient and appropriate toprovide a basis for our audit opinion on the financtai statements
In our opinion and to the best of our Information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required ar\d give a true and fair view in conformity with the accountingprinciples generally accepted In India of the state of affairs of the Company as at31" March 2017 Its 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 2017 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters Specified in paragraphs 3 and4 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 an the information and explanations which to the best ofour 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 March.2017. taken on record by the Board of Directors none of the directors Is disqualified ason 31 March 2017 from being appointed as a director in terms of Section 164(2) of theAct.
f) in our opinion and to the best ot our information and according to the explanationsgiven to us W8 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 has disclosed the impact of pending litigations on its financialposition in its financial statements- Refer Note 17 to the financial statements:
II) The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.
iil) There were no amounts which required to be
transferred by the Company to the Investor Education and Protection Fund.
For M/s H.K. Dua & Co. Chartered Accountants FRN No.: 000581N
[Arun Kumar Dua) (Partner)
M. No.: 082623
Place: New Delhi Date 26th April 2017
Annexure to the Auditors' Report
(Referred to In paragraph 1 under Report on Other Legal and Regulatory Requirements' ofour Report of even date to the members of Integra Capital Management Limited on theaccounts of the Company for the year ended 31st March 2017].
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 explained to us. All Ihe fixed assets have not been physically verified by themanagement during the year but there is a regular program of verification which In ouropinion is reasonable having regard to the size of the Company and the nature of itsassets. No material discrepancies were noticed on such verification.
(ii) In respect of its inventory:
(a) As explained to us the Inventories were phsically verified at regular intervals bythe 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 its business.
(c) In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories. The
discrepancies noticed on physical verification of stocks as compared to book recordswere not material and have been property dealt with in the books of account.
(Hi) In respect of loans secured or unsecured granted to the parties covered Inregister maintained under section 189 of the Companies Act. 2013:
According to the Information and explanations given to us. the Company has not grantedany loans to companies firms or other parties covered in the Register maintained underSection 189 of the Companies Act 2013; and therefore paragraph 3(iii) of the Order is notapplicable.
(Iv) In our opinion and according to the information and explanations given to U9there are adequate internal control procedures commensurate with the size of the companyand the nature erf its business for the purchase of inventory fixed assets and for thesale of shares and securities. During the course ot our Audit we have not observed anycontinuing failure to correct major weaknesses in internal control.
(v) In our opinion and according to the information and explanations given to us. thecompany has not received any public deposits during the year.
(vl) As informed to us. the Company is not required to maintain any cost records undersub section (1) of Section 148 of the Act in respect of the activities carried on by theCompany.
(vli) 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 Service Tax and other material statutory dues applicable to it withthe appropriate authorities.
(b) According to the information and explanations given to us. there were no undisputedamounts payable in respect of Income-tax. Wealth Tax. Custom Duty. Excise Duty sales taxVAT Cess and other material statutory dues in arrearsAvere outstanding as at 31 st March2017 for a period of more than six months from the date they became payable.
(c) There were no amounts which required to be transferred by the Company to theInvestor Education and Protection Fund.
(viii) The accumulated losses erf the company are not more than 50% of Its Net worth.However it has earned profit in the financial year ended on 31 st March. 2017.
(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 informaion 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 u no fraud on or by the Company has been noticed or reported during the year.
(xiii) The Company Is registered under Section 45-IC of the Reserve Bank of India Act1934.
(xiv) The Company is not a nldhi company.
(xv) The Company did not have holdings or dealings In
Specified Bank Notes during the period from November 8
2016 - Refer Note (22) to the financial statement
For M/sH.K Dua&Co. Chartered Accountants FRN No.: 000581N
[Arun Kumar Dua] (Partner)
M. No.: 082623
Place: New Delhi Date: 26th April 2017