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Narendra Investments (Delhi) Ltd.

BSE: 540204 Sector: Financials
NSE: N.A. ISIN Code: INE666Q01016
BSE 00:00 | 23 Apr 41.40 -2.15
(-4.94%)
OPEN

41.40

HIGH

41.40

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41.40

NSE 05:30 | 01 Jan Narendra Investments (Delhi) Ltd
OPEN 41.40
PREVIOUS CLOSE 43.55
VOLUME 300
52-Week high 49.55
52-Week low 21.00
P/E 90.00
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 41.40
CLOSE 43.55
VOLUME 300
52-Week high 49.55
52-Week low 21.00
P/E 90.00
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Narendra Investments (Delhi) Ltd. (NARENDRAINVEST) - Auditors Report

Company auditors report

To the Members of Narendra Investments (Delhi) Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Narendra Investments(Delhi) Limited ("the Company") which comprise the Balance Sheet as at 31stMarch 2017 the Statement of Profit and Loss the Cash Flow Statement for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

Management’s Responsibility for Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the 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 underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement 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 the matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.

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 about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.

Opinion

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 of the state of affairs of the Company as at 31stMarch 2017 its Profit and its Cash Flow 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 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the "Annexure A" 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 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 bythe Company 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 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 the 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 termsof Section 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 "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. TheCompany does not have any pending litigations which would impact 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 as detailed in Note No.16.1 to the standalone financial statementshas made requisite disclosures in these standalone financial statements as to holdings aswell as dealings in Specified Bank Notes during the period from 8th November2016 to 30th December 2016. Based on the audit procedures performed and takinginto consideration the information and explanations given to us in our opinion these arein accordance with the books of account maintained by the company.

For Shah &Kathariya

Chartered Accountants

Firm Registration No: 115171W

Sd/-

P M Kathariya

Partner

Membership No. 031315

Place: Thane

Date: 5th April 2017

"ANNEXURE A" TO THE INDEPENDENT AUDITOR’S REPORT

The Annexure referred to in Independent Auditors’ Report to the members of theCompany on the financial statements for the year ended 31st March 2017 wereport that:

i) a) The company is maintaining proper records showing full particulars includingquantitative details and situation of its fixed assets on the basis of availableinformation.

b) According to information and explanation given to us the fixed assets have beenphysically verified by the management according to a phased program to cover all fixedassets over a period of three years. No discrepancies were noticed on physicalverification of fixed assets.

c) The company does not own any immovable properties.

ii) The Company does not hold inventory at the end of the year. Therefore the saidclause is not applicable to the Company.

iii) The Company has not granted any loan secured or unsecured to companies firmsLimited Liability Partnerships (LLPs) or other parties covered in the register maintainedunder Section 189 of the Act. Accordingly the provisions of clauses 3(iii)(a) 3(iii)(b)and 3(iii)(c) of the Order are not applicable to the Company.

iv) The Company has not made any of loans investments guarantees and security undersection 185 and 186 of the Companies Act 2013.

v) The Company has not accepted any deposit from the public during the year.

vi) The Central Government of India has not prescribed maintenance of cost recordsunder sub-section (1) of Section 148 of the Companies Act 2013 for any of the product ofthe company.

vii) (a) According to the information and explanations given to us and the records ofthe Company examined by us in our opinion the Company is generally regular in depositingundisputed statutory dues in the respect of provident fund employees’ stateinsurance and service tax and is regular in depositing undisputed statutory dues inrespect of investor education and protection fund sales tax income tax wealth taxcustoms duty excise duty and other material statutory dues as applicable with theappropriate authorities.

(b) According to the information and explanation given to us and records examined byus there are no disputed dues of Sales Tax Wealth Tax Service Tax Custom Duty ExciseDuty and Cess outstanding as on 31st March 2017.

viii) 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 or banks ordebenture holders.

ix) According to the information and explanations given to us the term loans have beenapplied by the company during the year for the purpose for which it was obtained. TheCompany did not raise any money by way of initial public offer or further public offer(including debt instruments) during the year.

x) According to the information and explanations given to us no fraud by the Companyor on the Company by its officers or employees has been noticed or reported during thecourse of our audit.

xi) Based upon the audit procedures performed and the information and explanation givenby the management no managerial remuneration has been paid or provided.

xii) In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly paragraph 3(xii) of the Order is notapplicable. xiii) According to the information and explanations given to us and based onour examination of the records of the Company there are no transactions with the relatedparties. Accordingly paragraph 3(xiii) of the Order is not applicable.

xiv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him Accordingly paragraph 3(xv) ofthe Order is not applicable.

xvi) According to the information and explanation given to us the company is notrequired to be registered under section 45 IA of the Reserve Bank of India Act 1934.

For Shah &Kathariya

Chartered Accountants

Firm Registration No: 115171W

Sd/-

P M Kathariya

Partner

Membership No. 031315

Place: Thane

Date: 5th April 2017

"ANNEXURE B" TO THE INDEPENDENT AUDITOR’S REPORTOF EVEN DATE ON THEFINANCIAL STATEMENT OF NARENDRA INVESTMENTS (DELHI) LIMITED.

Report on the internal financial controls under clause (i) of sub-section 3 of section143 of the Companies Act 2013 ("Act")

We have audited the internal financial controls over financial reporting of NarendraInvestments (Delhi) Limited (‘the Company’) as of 31 March 2017 in conjunctionwith our audit of the financial statements of the Company for the year ended on that date.

Management’s responsibility for internal financial controls

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 assetsthe prevention 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

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 prescribedunder section 143(10) of the Act to the extent applicable to an audit of internalfinancial controls both applicable to an audit of internal financial controls and bothissued by the ICAI. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively 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 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.

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 controlssystem over financial reporting.

Meaning of internal financial controls over financial reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles.

A company's internal financial control over financial reporting includes those policiesand procedures that (1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of thecompany; (2) provide reasonable assurance that transactions are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorisations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorisedacquisition use or disposition of the company's assets that could have a material effecton 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 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 31st March 2017basedon the 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.

For Shah & Kathariya

Chartered Accountants

Firm Registration No: 115171W

Sd/-

P. M. Kathariya

Partner

Membership No. 031315

Place: Thane

Date:5th April 2017