To The Shareholders of Nam Securities Limited
Report on the Financial Statements
We have audited the accompanying financial statements of Nam Securities Limited Regd.Office: LGF Plot No. 410 Sector 31 Gurugaon - 122001 which comprise the Balance Sheetas at March 31 2017 the Statement of Profit and Loss and Cash Flow Statement and thestatement of changes in equity for the year ended on that date and a summary ofsignificant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
The company's Board of Directors Management is responsible for the matters stated insection 134(5) of the Companies Act 2013 (the Act)with respect to preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the Accounting principlesgenerally accepted in India including the Accounting Standards specified u/s 133 of theAct read with Rule 7 of the Companies (Accounts) Rules 2014.This responsibility alsoincludes maintenance of adequate Accounting records in accordance with provisions of theAct for safeguarding of the assets of the Company and for preventing and detecting fraudsand other irregularities; selection and application of appropriate Accounting Policies;making judgments and estimates that are reasonable and prudent; and design implementationand maintenance of 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 view& are free from material mis-statement 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 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 there under We conducted our audit in accordancewith the standards on auditing specified under section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement. An audit involves performing procedures to obtain audit evidence about theamounts and disclosures in the financial statements. The procedures selected depend uponthe auditor's judgment including the assessment of risks of material mis-statement 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 and ofthe financial statements that give true and fare view in order to design audit proceduresthat are appropriate in the circumstances An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Company Directors as well as evaluating the overall presentation ofthe financial statements. We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for our audit opinion in the financialstatements.
In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 and its Profit and its Cash Flows and the change in equity for the year ended onthat date.
In our opinion there is no other matter which needs any qualification.
Report on Other Legal and Regulatory Requirements
1.As required by the Companies(Auditor's Report) Order2016("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 a statement on the matters specified in Para(s) 3& 4 of the Order to the extent applicable. 2. As required by section 143(3) of theAct 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 purpose of our audit;b) In our opinion Proper books of accounts as required by law have been kept by Companyso far as appears from our examination of books. c) The Balance sheet Statement of Profitand LossCash Flow Statement and statement of change in equity dealt with by this Reportare in agreement with the books of account; d) In our opinion the Balance sheetStatement of Profit and LossCash Flow Statement and statement of change in equity complywith the Accounting Standards specified under section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014; e) On the basis of written representations receivedfrom the directors as on 31.03.2017 and taken on record by the Board of Directors wereport that none of the directors are disqualified as on March 31 2017 from beingappointed as a director in terms of section 164(2) of the Act. f) With respect to theadequacy of the internal financial controls over financial reporting of the Company andthe operation effectiveness of such controls refer to our separate Report in"Annexure B" g) With respect to the other matters to be included in the AuditorsReport in accordance with the Rule 11 of the Companies (Audit and Auditors) Rules 2014read with Notification no. G.S.R 307(E) dated 30.03.2017 in our opinion and to the bestof our information and according to the explanations given to us : i. The company hasdisclosed the impact of pending litigations if any on its financial positions in itsfinancial statements ii.The company has made provisions as required under the applicablelaw or Accounting Standards for material foreseeable losses if any and as required inlong term contacts including derivatives contacts iii.That there were no amounts which wasrequired to be transferred by Company to the Investor Education and Protection Fund iv.Thecompany has provided the requisite disclosure regarding to holdings as well as dealings inSpecified Bank Notes during the period from 8.11.2016 to 30.12.2016and the same are inaccordance with the books of accounts maintained by the company referred to Note no. 13 ofthe financial statements. 3.As required by the Companies (Auditor's Report) Order2016("CARO2016") issued by the Central Government in terms of section 143(11) of theAct We give in "Annexure B" a statement on the matters specified in paragraphs3 & 4 of CARO 2016.
For RAJ K SRI & CO. CHARTERED ACCOUNTANT
Firm No. 014141N
Place: Gurugram Sd/- Date: 30.05.2017 (Sumit Kumar Gupta) Partner: (M. No.529461)
Annexure to the Independent Auditors' Report