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Nam Securities Ltd.

BSE: 538395 Sector: Financials
NSE: N.A. ISIN Code: INE792G01011
BSE LIVE 11:24 | 22 Nov 30.40 -1.60
(-5.00%)
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30.40

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30.40

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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 30.40
PREVIOUS CLOSE 32.00
VOLUME 25
52-Week high 50.50
52-Week low 28.40
P/E 62.04
Mkt Cap.(Rs cr) 9
Buy Price 30.40
Buy Qty 475.00
Sell Price 33.00
Sell Qty 50.00
OPEN 30.40
CLOSE 32.00
VOLUME 25
52-Week high 50.50
52-Week low 28.40
P/E 62.04
Mkt Cap.(Rs cr) 9
Buy Price 30.40
Buy Qty 475.00
Sell Price 33.00
Sell Qty 50.00

Nam Securities Ltd. (NAMSECURITIES) - Auditors Report

Company auditors report

To The Shareholders of Nam Securities Limited

Report on the Standalone Financial Statements

We have audited the accompanying financial statements of Nam Securities Limited regd.Office: LGF Plot no.410 Sector 31 Gurgaon-122001 which comprise the Balance Sheet asat March 31 2016 the Statement of Profit and Loss and Cash Flow Statement for the yearended on that date and a summary of significant accounting policies and other explanatoryinformation.

Management’s Responsibility for the Financial Statements

The company’s Board of Directors Management is responsible for the matters statedin section 134(5) of the Companies Act 2013 (the Act)with respect to preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the Accountingprinciples generally accepted in India including the Accounting Standards specified u/s133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate Accounting records inaccordance with provisions of the Act for safeguarding of the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofPartner riate Accounting Policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial controls thatwere operating effectively for ensuring the accuracy and completeness of the Accountingrecords relevant to the preparation and presentation of the financial statements that givea true and fair view & are free from material mis-statement whether due to fraud orerror.

Auditor’s Responsibility

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 upon the auditor’s judgment including theassessment of risks of material misstatement of the financial statements whether due tofraud or error. In making those risk assessments the auditor considers internal controlrelevant to the company’s preparation and of the financial statements that give trueand fare view in order to design audit procedures that are Partner riate in thecircumstances but for not the purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. An audit also includes evaluating the Partnerriateness of accounting policies used and the reasonableness of the accounting estimatesmade by the Company Directors as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand Partner riate to provide a basis for our audit opinion in the financial statements.

Opinion

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 2016 and its Profit and its Cash Flows for the year ended on that date.

Other Matters

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 explanations which to the bestof our knowledge and belief were necessary for the purpose of our audit;

b) In our opinion Partner books of accounts as required by law have been kept byCompany so far as appears from our examination of books.

c) The Balance sheet Statement of Profit and Loss & Cash Flow Statement dealtwith by this Report are in agreement with the books of account;

d) In our opinion the Balance sheet Statement of Profit and Loss and Cash FlowStatement comply with the Accounting Standards specified under section 133 of the Actread with Rule 7 of the Companies (Accounts) Rules 2014;

e) On the basis of written representations received from the directors as on31.03.2016 and taken on record by the Board of Directors we report that none of thedirectors are disqualified as on March 31 2016 from being appointed as a director interms of section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operation effectiveness of such controls refer to ourseparate Report in "Annexure B"

g) With respect to the other matters to be included in the Auditors Report inaccordance with the Rule 11 of the Companies (Audit and Auditors) Rules 2014 in ouropinion and to the best of our information and according to the explanations given to us :

(i) The company has disclosed the impact of pending litigations if any on itsfinancial positions in its financial statements

(ii) The company has made provisions as required under the applicable law orAccounting Standards for material foreseeable losses if any and as required in long termcontacts including derivatives contacts

(iii) That there were no amounts which was required to be transferred by the Company tothe Investor Education and Protection Fund

RAJ K SRI & CO
CHARTERED ACCOUNTANTS
FIRM no. 014141N
Sd-
Place: New Delhi (Sumit Kumar Gupta)
Date:1st Sept 2016 Partner (M.No.529461)

Annexure to the Independent Auditors’ Report

As referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements’ of our Report of even date to the members of Nam Securities Limited onthe accounts of the company for the year ended 31st March 2016

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 fixed assets have been physically verified by the managementduring the year in accordance with the phased programme of verification adopted by themanagement which in our opinion provides for physical verification of all the fixedassets at reasonable intervals. According to the information and explanations given to usno material discrepancies were noticed on such verification.

(c) There is no immovable property owned by the company.

(ii) In respect of its inventory:

a) As explained to us the inventories of finished goods semi-finished goods storesspare parts and raw materials were physically verified at regular intervals/ (at the endof the year) by the Management. In case of inventories lying with third partiescertificates of stocks holding have been received.

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 itsbusiness.

c) .In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification of stocks as compared to book records.

(iii) In respect of loans secured or unsecured granted to the parties covered inregister maintained under section 189 of the Companies Act 2013: According to theinformation and explanations given to us the Company has not granted any loans tocompanies firms or other parties covered in the Register maintained under Section 189 ofthe Companies Act 2013; and therefore paragraph 3(iii) of the Order is not applicable. )

(iv) In our opinion and according to the information and the explanation given tous the company has not given any guarantee for loans taken by others from banks orfinancial institutions during the year;

(v) In our opinion and according to the information and explanation given to usthe company has not received/accepted any public deposits during the year.

(vi) As informed to us the Central Government has not prescribed maintenance ofcost records under sub-section (1) of Section 148 of the Act in respect of the activitiescarried on by the Company.

(vii) In respect of statutory dues:

(a) According to the records of the company and information and explanations givento us the Company has generally been regular in depositing undisputed statutory duesincluding Provident Fund employees state insurance (ESI) Investor Education andProtection Fund Income-tax Tax deducted at sources Tax collected at sourceProfessional Tax Sales Tax value added tax (VAT) Wealth Tax Service Tax Custom DutyExcise Duty Cess and other material statutory dues applicable to it with the appropriateauthorities.

(b)According to the information and explanations given to us there were noundisputed amounts payable in respect of Income-tax Wealth Tax Custom Duty Excise Dutysales tax VAT Cess and other material statutory dues in arrears /were outstanding as at31 March 2016 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to us there were noamounts which required to be transferred by the Company to the Investor Education andProtection Fund

(viii) On the basis of information and explanation provided to us Company has notdefaulted in repayments of loans and borrowings to the bank. There were no duesoutstanding towards debenture holders as at March 31 2016 .

(ix) The Company did not raise any money by way of initial public or furtherpublic offer(including debt instruments) during the year. No Term loans is taken by thecompany.

(x) According to the information and explanations given to us No fraud by thecompany or on the company by its officers or employee has been noticed or reported duringCourse of our audit.

(xi) The company has paid / provided managerial remuneration to its directorsduring the year in accordance with provision of section 197 read with Schedule V to theCompanies Act 2013 as applicable to the Company.

(xii) The Company is not a nidhi company hence the provisions of paragraph 3(xii)pf the Companies (Auditor’s Report) Order 2016 are not applicable to the Company.

(xii) During the course of our examination of the books and records of the Companyall transactions entered with the related parties are in compliance with Section 177 and188 of the Companies Act 2013 and the details have been disclosed in the financialstatements etc as required by the applicable accounting standards.

(xiv) The Company has not made any preferential allotment or private placement ofshares of fully or partly convertible debentures during the year under review.Accordingly the provisions of para 3(xiv)of the Companies(Auditor’s Report) Order2016 are not applicable to the Company

(xv) The Company has not entered into any non-cash transaction with directors orpersons connected with him. Accordingly the provisions of paragraph 3(xv) of theCompanies (Auditors Report) Order 2016 are not applicable to the Company.

(xvi) The Company is not required to be registered under section 45-IA of theReserve Bank of India Act 1934. Accordingly the provisions of paragraph 3(xvi) of theCompanies (Auditors Report) Order 2016 are not applicable to the Company.

For: RAJ K SRI & CO.
CHARTERED ACCOUNTANTS
(Firm No: 014141N)
Sd-
Place: New Delhi (Sumit Kumar Gupta)
Date: 1st Sept 2016 Prop. (M.No. 529461 )

Annexure B Annexure B to the Independent Auditor’s Report of even date to themembers of NAM Securities Limited on the Financial Statements for the year ended March31 2016.

Independent Auditor’s report on the internal Financial Controls under clause (i)of sub-section 3 of Section 143 of the Companies Act 2013 (the "Act") 1. Inconjunction with our audit of the financial statements of Nam Securities

Limited ("the Company") as of and for the year ended March 31 2016 we haveaudited the internal financial controls over financial reporting (IFCoFR) of the Companyas of that date.

Management’s Responsibility for Internal Financial Controls

2. The Company’s Board of Directors is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting (the "Guidance Note") issued by the Institute of CharteredAccountant of India (ICAI). These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of the Company’s business includingadherence to Company’s Policies the safeguarding of frauds and errors the accuracyand completeness of the accounting records and the timely preparation of reliablefinancial information as required under the Act.

Auditor’s Responsibility

3. Our responsibility is to the express an opinion on the Company’s IFCoFR basedon the audit. We conducted our audit in accordance with the Standards on Auditing issuedby the ICAI and deemed to be prescribed under section 143(10) of the Act to the extentapplicable to an Audit of Internal Financial Controls over Financial Reporting issued bythe ICAI. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate IFCoFR were established and maintained and if such controls operated effectivelyin all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the IFCoFR and their operating effectiveness. Our audit of IFCoFR included obtaining anunderstanding of IFCoFR assessing the risk that a material weakness exists and testingand evaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor’s judgment includingthe assessment of the risk of material misstatement of the financial statements whetherdue 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 IFCoFR.

Meaning of Internal Financial Controls over Financial Reporting

6. A Company’s IFCoFR is a process designed to provide reasonable assuranceregarding the reliability of financial reporting and the preparation of financialstatements for external purpose in accordance with generally accepted accountingprinciples. A Company’s IFCoFR includes those policies and procedures that (1)pertain to the maintenance of records that in reasonable detail accurately and fairlyreflect the transactions and dispositions of the assets of the Company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with authorizations of management andDirectors of the Company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the Company’s assets that could havea material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

7. Because of the inherent limitations of IFCoFR including the possibility ofcollusion or improper management override of controls material misstatements due to erroror fraud may occur and not be detected. Also projections of any evaluation of the IFCoFRto future provides are subject to the risk that IFCoFR may become inadequate because ofchanges in conditions or that the degree of compliance with the policies Or proceduresmay deteriorate.

Opinion

8. In our opinion the Company has in all material respects adequate internalfinancial controls over financial reporting and such internal financial controls overfinancial reporting were operating effectively as at March 31 2016 based on the internalcontrol over financial reporting criteria established by the Company considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial Controls over Financial Reporting issued by the ICAI.

For: RAJ K SRI & CO.
CHARTERED ACCOUNTANTS
Firm No: 014141N
Sd-
Place: New Delhi (Sumit Kumar Gupta)
Date: 1st Sept 2016 Partner. (M.No. 529461)