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Likhami Consulting Ltd.

BSE: 539927 Sector: Others
NSE: N.A. ISIN Code: INE920T01011
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NSE 05:30 | 01 Jan Likhami Consulting Ltd
OPEN 40.00
PREVIOUS CLOSE 40.00
VOLUME 7
52-Week high 40.40
52-Week low 34.70
P/E 666.67
Mkt Cap.(Rs cr) 40
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 40.00
CLOSE 40.00
VOLUME 7
52-Week high 40.40
52-Week low 34.70
P/E 666.67
Mkt Cap.(Rs cr) 40
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Likhami Consulting Ltd. (LIKHAMICONSULT) - Auditors Report

Company auditors report

To The Members of

Likhami Consulting Limited

Report on the Financial Statements:

We have audited the accompanying financial statements of which comprise the BalanceSheet as at 31st March 2017 the Statement of Profit and Loss the Cash Flow Statementfor the year then ended and a summary of significant accounting policies and otherexplanatory information.

Financial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards prescribedunder Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.This responsibility also includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding the assets of the Company and forpreventing 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.

Our responsibility is to express an opinion on these financial statements based on ouraudit.

In conducting 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 of the financial statements in accordance with the Standards onAuditing specified under Section 143(10) of the Act. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial

Misstatement of the financial statements whether due to fraud or error. In makingthose risk assessments the auditor considers intern fair view in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluatingthe appropriateness of the accounting policies used and the reasonableness of theaccounting estimates made by

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:

In our opinion and to the best of our information and according to the explanationsgiven to usread together with the Note No. 17 (Other Notes to the Accounts)of thefinancial statements the aforesaid financial statements give the information required bythe 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 affairs 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:-

a. We have sought and obtained all the information and explanations which to the bestof our 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 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 relevant 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 31stMarch 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms ofSection 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

g. With respect to the other matters to be Companies (Audit and Auditors) Rules 2014in our opinion and to the best of our information and according to the explanations givento us:

i. The Company is of view that ongoing pending litigation as at the reporting datewould not have any material impact on its financial Position;

ii. The Company did not have any long-term contracts 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 has provided requisite disclosures in the financial statements asregards its holding and dealings in Specified Bank Notes as defined in the NotificationS.O. 3407(E) dated November 8 2016 of the Ministry of Finance during the period fromNovember 8 2016 to December 30 2016. Based on audit procedures performed and therepresentations provided to us by the management we report that the disclosures are inaccordance with the relevant books of account maintained by the company and as produced tous by the management.

For S.R.Ghedia & Associates
(Chartered Accountants)
(FRN: 118560W)
Sunil Jain
(Partner)
M.No: 059181
Place : Mumbai
Date : 26/05/2017

(i) In respect of its fixed assets:

(a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) As explained to us the fixed assets have been physically verified by themanagement at reasonable intervals. No material discrepancies were noticed on suchphysical verification.

(c) According to the information and explanations given to us there are no immovableproperties owned by the Company under Fixed Assets. Accordingly paragraph 3 (i) (c) ofthe Order is not applicable to the Company.

(ii) As explained to us Inventories of Traded Goods have been physically verified bythe Management at the year end and no material discrepancies were noticed on such physicalverification.

(iii) The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained underSection 189 of the Companies Act 2013. Accordingly clauses 3 (iii) (a) to (C) ofparagraph 3 of the Order are not applicable to the Company.

(iv) According to the information and explanations given to us the company has notprovided any loans guarantees or securities which fall under the purview of Section 185of the Companies Act 2013. The Company has complied with the provisions of Section 186 ofthe Act in respect of investments made and outstanding at the year- end.

(v) In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public in terms of the directives issuedby the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevantprovisions of the Companies Act 2013 and the Rules framed thereunder.

(vi) As informed to us the maintenance of Cost Records has not been specified by theCentral Government under subsection (1) of Section 148 of the Companies Act 2013 inrespect of the activities carried on by the Company.

(vii) In respect of statutory dues:

(a) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company is generally regular in depositingundisputed statutory dues including provident fund e _state insurance income taxsales-tax service tax duty of customs duty of excise value added tax cess and anyother statutory dues as applicable to the Company with the appropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of the aforesaid statutory dues were outstanding as at 31st March2017 for a period of more than six months from the date they became payable.

(b) According to the records of the Company there are no dues of income tax or salestax or service tax or duty of customs or duty of excise or value added tax which have notbeen deposited on account of any dispute.

(viii) The Company has not raised /obtained any loans or borrowings from financialinstitutions or banks or government or by issue of debentures. Accordingly paragraph 3(viii) of the Order is not applicable to the Company.

(ix) The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3 (ix) of the Order is not applicable to the Company.

(x) According to the information and explanations given to us and based on auditprocedures performed and representations obtained from the management we report that nofraud by the Company or any fraud on the company by its officers or employees has beennoticed or reported during the year under audit.

(xi) According to the information and explanations given to us the Company has paid /provided managerial remuneration in accordance with the requisite approvals mandated bythe provisions of Section 197 read with Schedule V to the Companies Act 2013.

(xii) According to the information and explanations given to us the Company is not aNidhi Company. Accordingly paragraph 3 (xii) of the Order is not applicable to theCompany.

(xiii) According to the information and explanations given to us during the year underreview the Company has not entered into any transaction with Related Parties that requireapproval under Section 177 and Section 188 of the Companies Act 2013 and the Rules madethereunder. Accordingly paragraph 3(xiii) of the Order is not applicable to the Company.

(xiv) During the year under review the Company has not made any preferential allotmentor private placement of shares or fully or partly convertible debentures. Accordinglyparagraph 3(xiv) of the Order is not applicable to the Company.

(xv) According to the information and explanations given to us the Company has notentered into any non-cash transactions with its directors or persons connected to itsdirectors hence provisions of Section 192 of the Companies Act 2013 are not applicableto the company. Accordingly reporting under clause (xv) of Paragraph 3 of the Order isnot applicable to the Company.

(xvi) According to the information and explanations given to us the Company is notrequired to be registered under Section 45- IA of the Reserve Bank of India Act 1934.

For S.R.Ghedia & Associates
(Chartered Accountants)
(FRN: 118560W)
Sunil Jain
(Partner)
M.No: 059181
Place : Mumbai
Date : 26/05/2017

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act

We have audited the internal financial controls over financial reporting of asof 31st March 2017 in conjunction with our audit of the financial statements of theCompany for the year ended on that date.

Internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls over Financial Reporting issued by the Institute ofChartered Accountants of India. These responsibilities include the design implementationand maintenance of adequate internal financial controls that were operating effectivelyfor ensuring the orderly and efficient conduct of its

Evention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Our responsibility our audit. We conducted our audit in accordance with the GuidanceNote on Audit of Internal Financial Controls over

Auditing prescribed under Section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls. Those standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls overfinancial reporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe 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

Material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion

Meaning of Internal Financial Controls over Financial Reporting:-

__ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ regarding the reliability of financial reporting andthe preparation of financial statements for external purposes in accordance with gene _ __ ____ _ _ _ _ _ _ _ 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 dispositi _ _ __ _ _ __ _ _ material 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 to the best of our information and according to the explanations givento us 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 2017 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

For S.R.Ghedia & Associates
(Chartered Accountants)
(FRN: 118560W)
Sunil Jain
(Partner)
M.No: 059181
Place : Mumbai
Date : 26/05/2017