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Jupiter Infomedia Ltd.

BSE: 534623 Sector: Others
NSE: N.A. ISIN Code: INE524N01014
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OPEN 72.00
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VOLUME 250
52-Week high 93.00
52-Week low 39.05
P/E 240.00
Mkt Cap.(Rs cr) 72
Buy Price 72.00
Buy Qty 250.00
Sell Price 73.95
Sell Qty 100.00
OPEN 72.00
CLOSE 72.00
VOLUME 250
52-Week high 93.00
52-Week low 39.05
P/E 240.00
Mkt Cap.(Rs cr) 72
Buy Price 72.00
Buy Qty 250.00
Sell Price 73.95
Sell Qty 100.00

Jupiter Infomedia Ltd. (JUPITERINFO) - Auditors Report

Company auditors report

To

The Members of Jupiter Infomedia Limited

1. We have audited the accompanying standalone financial statements of JUPITERINFOMEDIA LIMITED (herein after referred to as "Company") which comprisethe Balance Sheet as at March 312016 the Statement of Profit and Loss the Cash FlowStatement for the year then ended and a summary of significant accounting policies andother explanatory information.

Management's Responsibility for the Financial Statements

2. The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 (herein after referred to as"the Act") withrespect to the preparation and presentation of these financial statements that give a trueand fair view of the financial position financial performance and cash flows of theCompany in accordance with the accounting principles generally accepted in Indiaincluding the Accounting Standards specified under Section 133 of the Act read with Rule7 of the Companies (Accounts) Rules 2014. This responsibility also includes maintenanceof adequate accounting records in accordance with the provisions of the Act forsafeguarding 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 effectively 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.

Auditors' Responsibility

3.Our responsibility is to express an opinion on these financial statements based onour audit.

4. 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.

5. 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 as to whetherthe financial statements are free from material misstatement.

6. An audit involves performing procedures to obtain audit evidence about the amountsand the 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 Board of Directors aswell as evaluating the overall presentation of the financial statements.

7. We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.

Opinion

8.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 and give a true and fair view in conformity with the accountingprinciples generally accepted in India :

a. in the case of the Balance Sheet of the state of affairs of the Company as at March312016;

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

c. in the case of the Cash Flow Statement of the cash flows of the Company for theyear ended on that date.

Report on other Legal and Regulatory Requirements

9.As required by the Companies (Auditors' Report) Order 2016 (the"order")issued by the Central Government of India in terms of subsection (11) of Section 143 ofthe Act and on the basis of such checks of the books and records of the Company as weconsidered appropriate and according to the information and explanations given to us wegive in the Annexure"A" a statement on the matters specified in paragraphs 3 and4 of the Order to the extent applicable.

10.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 Account and the Cash FlowStatement dealt with by this report are in agreement with the books of account;

d. in our opinion the financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014;

e. on the basis of the written representations received from the directors as on 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms of Section164 (2) of the Act;

f. with respect to the adequacy of internal financial controls over financial reportingof the Company and the operating effectiveness of such controls refer to our separatereport 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. There are no pending litigations which would impact the financial position of theCompany.

ii. The Company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There were no amount which was required to be transferred to the InvestorEducation and Protection Fund.

For Mahadev Desai Associates
Chartered Accountants
Firm Regn. No. 105737W
Place: Mumbai Mahadev Desai (M. No. 41280)
Date: 19th April 2016 Proprietor

Annexure A to Independent Auditors’ Report

(Referred to in paragraph 9 of the Independent Auditors' Report of even date to themembers of JUPITER INFOMEDIA LIMITED on the standalone financial statements for theyear ended March 312016).

1.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 the Fixed assets have been physically verified during theyear by the management at regular intervals which in our opinion is reasonable havingregard to the size of the Company and nature of its assets. According to the informationand explanations given to us no discrepancies were noticed on such verification.

c) According to the information and explanations given by the management the titledeeds of immovable properties included in fixed assets are held in the name of theCompany.

2. The Company's business does not involve inventories and accordingly therequirements under paragraph 3(ii) of the Order are not applicable to the Company.

3. The Company has not granted any loans to companies firms or other parties coveredin the register maintained under section 189 of the Act.

4. In The Company has not granted any loans or provided any guarantees or security tothe parties covered under section 185. In our opinion and according to the informationand explanations given to us the Company has complied with the provisions of section 186of the Companies Act 2013 in respect of investments made by it.

5. The Company has not accepted any deposits in terms of directives issued by ReserveBank of India and the provisions of Sections 73 to 76 or any other relevant provisions ofthe Companies Act and the rules framed there under.

6. According to the information and explanations given to us the company is notengaged in any of the activity specified in The Companies (Cost Accounting Records) Rules2011 hence requirement of maintenance of cost records under section 148(1) of the Act isnot applicable to the company.

7. Statutory and other dues:

a) According to the information and explanations given to us undisputed statutory duesincluding Provident Fund employees' State Insurance Income Tax Sales Tax Service taxduty of customs duty of excise value added tax cess and other material statutory dueswherever applicable have been generally regularly deposited with the appropriateauthorities. According to the information and explanations given to us no undisputedamount payable in respect of aforesaid dues were outstanding as at the end of the year fora period of more than six months from the date of becoming payable.

b) According to the information and explanations given to us there are no dues ofincome tax Sales Tax service tax duty of customs duty of excise value added tax andCess outstanding on account of dispute.

8.In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to a financial institution bank orgovernment. The company has not issued any debentures.

9.In our opinion and according to information and explanations given by the managementmonies raised by the Company by way of initial public offer (IPO) in earlier year wereapplied for the purpose for which the monies were raised though idle/surplus funds whichwere not required for immediate utilization have been gainfully invested in liquidinvestments payable on demand. The company has not raised any money by way of furtherpublic offer (including debt instrument) and term loan.

10.In our opinion and according to the information and explanation given to us no fraudon or by the Company has been noticed or reported during the year that caused thefinancial statement to be materially misstated.

11. The Company has paid/ provided for managerial remuneration in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theAct.

12. As the Company is not a Nidhi Company and the Nidhi Rules 2014 are not applicableto it.

13. The Company has entered into transactions with related parties in compliance withthe provisions of sections 177 and 188 of the Act. The details of such related partytransactions have been disclosed in the financial statements as required under AccountingStandard 18 Related Party Disclosures specied under section 133 of the Act read withrule 7 of the Companies (Accounts) Rules 2014.

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 any non-cash transactions with its directors orpersons connected with him.

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For Mahadev Desai Associates
Chartered Accountants
Firm Regn. No. 105737W
Place: Mumbai Mahadev Desai (M. No. 41280)
Date: 19th April 2016 Proprietor

Annexure B to Independent Auditors’ Report

(Referred to in paragraph 10(f) of the Independent Auditors' Report of even date to themembers of JUPITER INFOMEDIA LIMITED on the standalone financial statements for theyear ended 31 March 2016 )

Report on the internal financial controls under clause (i) of sub-section 3 of section143 of the Act.

1. We have audited the internal financial controls over financial reporting of JupiterInfomedia Limited as of 31 March 2016 in conjunction with our audit of the standalonefinancial statements of the Company for the year ended on that date.

Management's responsibility for internal financial controls

2. 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 (ICAI). 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 Act.

Auditors' responsibility

3.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 deemed to be prescribed under section143(10) of the Act to the extent applicable to an audit of internal financial controlsboth applicable to an audit of internal financial controls and both issued by the ICAI.Those Standards and the Guidance Note require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

4.Our audit involves performing procedures to obtain audit evidence about the adequacyof the internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of internal financial controls over financial reporting

6. A company's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the Company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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

7. 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

8. 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 31 March 2016 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 Mahadev Desai Associates
Chartered Accountants
Firm Regn. No. 105737W
Place: Mumbai Mahadev Desai (M. No. 41280)
Date: 19th April 2016 Proprietor