To The Members of JITF Infralogistics Limited Report on the StandaloneFinancial Statements
We have audited the accompanying financial statements of JITFInfralogistics Limited ("the Company") which comprise Balance Sheet as at 31stMarch 2017 the Statement of Pro t and Loss the Statement of Change in Equity and theCash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the mattersstated in Section 134(5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Indian AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2015 as amended. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effective ly forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these financialstatements based on our audit. We have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the
Standards on Auditing specified under Section 143(10) of the Act. ThoseStandards require that we comply with ethical requirements and plan and perform the auditto obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.
An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the financial statements. 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. In making thoserisk assessments the auditor considers internal financial control relevant to theCompany's preparation of the financial statements that give a true and fair view inorder to design audit procedures that are appropriate in the circumstances. 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 as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is su cient andappropriate to provide a basis for our audit opinion on the financial statements.
In our opinion and to the best of our information and according to theexplanations given to us the aforesaid 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 a airs of the Companyas at 31st March 2017 and its profit 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") issued by the Central Government of India in terms of sub-section(11) of section 143 of the Act we give in the Annexure-1 a statement on the mattersspecified in the paragraph 3 and 4 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 all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.
(b) In our opinion proper books of account as required by law havebeen kept by the Company so far as it appears from our examination of those books;
(c) The Balance Sheet the Statement of Pro t and Loss the Statementof Change in Equity and the Cash Flow Statement dealt with by this Report are in agreementwith the books of account;
(d) In our opinion the aforesaid financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2015;
(e) On the basis of the written representations received from thedirectors as on 31st March 2017 taken on record by the Board of Directors none of thedirectors is disquali ed as on 31st March 2017 from being appointed as a director interms of Section 164 (2) of the Act.
(f) With respect to the adequacy of the internal financial controlsover financial reporting of the Company and the operating effective ness of such controlsrefer to Annexure-2.
(g) With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us:
i. The Company does not have any pending litigations as on 31st March2017;
ii. The Company did not have any long-term contracts includingderivatives contracts for which there were any material foreseeable losses; and
iii. There is no amount payable towards investor education andprotection fund in accordance with the relevant provisions of the Companies Act 1956 (1of 1956) and rules made there under.
iv. The Company has provided requisite disclosures in its financialstatements as to holdings as well as dealings in Specified Bank Notes during the periodfrom 8th November2016 to 30th December2016 and these are in accordance with the books ofaccounts maintained by the Company (refer note no. 19.16 of notes to accounts).
| ||For N.C. Aggarwal & Co. |
| ||Chartered Accountants |
| ||Firm Registration No. 003273N |
| ||G. K. Aggarwal |
|Place: New Delhi ||Partner |
|Dated: May 29 2017 ||M No. 086622 |