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Niyogin Fintech Ltd.

BSE: 538772 Sector: Financials
NSE: N.A. ISIN Code: INE480D01010
BSE LIVE 14:53 | 17 Oct 29.50 1.40
(4.98%)
OPEN

29.50

HIGH

29.50

LOW

29.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 29.50
PREVIOUS CLOSE 28.10
VOLUME 1375
52-Week high 29.50
52-Week low 9.24
P/E
Mkt Cap.(Rs cr) 236
Buy Price 29.50
Buy Qty 572574.00
Sell Price 0.00
Sell Qty 0.00
OPEN 29.50
CLOSE 28.10
VOLUME 1375
52-Week high 29.50
52-Week low 9.24
P/E
Mkt Cap.(Rs cr) 236
Buy Price 29.50
Buy Qty 572574.00
Sell Price 0.00
Sell Qty 0.00

Niyogin Fintech Ltd. (NIYOGINFINTECH) - Auditors Report

Company auditors report

To the Members

M3 Global Finance Limited

Report on the Financial Statements

We have audited the accompanying Standalone financial statements of M3 Global FinanceLimited ("the Company") for the quarter and year ended 31st

March 2016 which comprise the Balance Sheet as at March 31 2016 the Statement ofProfit and Loss and Cash Flow for the year then ended and a summary of significantaccounting policies and other explanatory information pursuant to the requirement of theRegulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation2015.

Management’s Responsibility for the Financial Statements

The Management and Board of Directors of the Company are responsible for the mattersstated in Section 134(5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014.

This responsibility includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of 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 are operating effectively for ensuring the accuracy and completeness of theaccounting 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.

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 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 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: a) In case of Balance Sheet and state of affairsof the Company as at 31st March 2016 b) In case of Profit & Loss Account of theProfit for the year ended on that date; c) In case of the Cash Flow Statement of the CashFlows of the Company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order 2015 (" the Order)issued by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act and on the basis of such checks of books and records of the Company as weconsidered appropriate and according to the information and explanation given to us. Wegive in the Annexure a statement on the matters specified in paragraphs 3 and 4 of theOrder.

As required by section 143(3) of the Act we report that:

We have sought and obtained all the information and explanations which to the best ofour knowledge and belief were necessary for the purposes of our audit; In our opinionproper books of account as required by law have been kept by the Company so far as appearsfrom our examination of those books; The Balance Sheet Statement of Profit and Loss andCash Flow Statement dealt with by this Report are in agreement with the books of account;In our opinion the aforesaid financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014; On the basis of the written representations received from the directors as on31st March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in terms of Section164 (2) of the Act; With respect to the other matters to be included in the Auditor’sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

I. the Company does not have any pending litigations which would impact its financialposition.

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 during the year.

For Jain Khetan Agarwal& Associates
(JKJS & Co.)Chartered Accountants
SD/-
CA. N. K. Khetan
Place : Mumbai Partner
Date : 18thAugust 2016 Membership No. : 044687

Annexure to the Auditors’ Report

The Annexure referred to in our report to the members of M3 Global Finance Limited forthe year Ended on 31st March 2016. We report that:

1. (a)The Company was not clause is not applicable. holding any fixed asset during theyear; hence this

2. (a) Physical verification of inventory has been conducted at reasonable intervals bythe management

(b) The procedures of physical verification of inventory followed by the managementreasonable and adequate in relation to the size of the company and the nature of itsbusiness. If not the inadequacies in such procedures should be reported;

(c) The company is maintaining proper records of inventory and whether any materialdiscrepancies were noticed on physical verification and if so whether the same have beenproperly dealt with in the books of account

3. The company has not granted or taken any loans secured or unsecured to companiesfirms or other parties covered in the register maintained under section 189 of theCompanies Act 2013. If so then (A) Receipt of the principal amount and interest are alsoregular; and (B) If overdue amount is more than rupees one lakh reasonable steps havebeen taken by the company for recovery of the principal and interest;

4. There is an adequate internal control system commensurate with the size of thecompany and the nature of its business for the purchase of inventory and fixed assets andfor the sale of goods and services.

5. According to the information and explanations given to us the company has notaccepted deposits from the public within meaning of provisions of sections 73 to 76 or anyother relevant provisions of the Companies Act and the rules framed there under.

6. Considering the nature of business activities of the Company maintenance of costrecords under section 148 of the Companies Act 2013 are not required.

7. (a) According to the information and explanations given to us and on the basis ofour examination of the books of account the Company has been generally regular indepositing undisputed statutory dues including

Provident Fund Employees’ State Insurance Investor Education and

Protection Fund Income Tax Sales Tax VAT Wealth Tax service tax Custom DutyExcise Duty Cess and any other dues during the year with the appropriate authorities.There are no undisputed dues payable for a period of more than six months from the datethey became payable on 31-03-2016

(b) According to the information and explanations given to us the company has nodisputed dues of Sales Tax Income Tax Custom duty Wealth Tax Service Tax VAT Exciseduty Cess as on the balance sheet date.

8. The Company does not have any accumulated losses at the end of the financial year.The Company has not incurred Cash losses in the financial year and immediately precedingsuch financial year;

9. 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 orDebenture holders. 10.According to information and explanations given to us the Companyhas not given any guarantee for loans taken by others from Banks or Financial Institutionswhich are prejudicial to the interest of the company. 11.The Company has not obtained anyterm loan accordingly Para 4 (xvi) of the Order is not applicable 12. any fraud on or bythe company has been noticed or reported during the year; If yes the nature and theamount involved is to be indicated.

Place : Mumbai for Jain Khetan Agarwal & Associates
Date : 18thAugust 2016 (JKJS & Co.)Chartered Accountants
SD/-
CA. N. K. Khetan
Partner
Membership No : 044687

Non-Banking Financial Companies Auditor’s Report

In Compliance of Non-Banking Financial Companies Auditor’s Report (Reserve Bank)Directions 2008

To
The Board of Directors
M3 Global Finance Limited

1. The Company is engaged in the business of Non-Banking Financial Institution and hasobtained a Certificate of Registration from the Reserve Bank of India.

2. That company is entitled to continue to hold the Certificate of Registration interms of its asset/income pattern as on 31st March 2016.

3. The Board of Directors has passed a resolution for non- acceptance of any publicdeposits.

4. The company has not accepted any public deposits during the relevant period/year.

5. The company has complied with the prudential norms relating to income recognitionaccounting standards asset classification and provisioning for bad and doubtful debts asapplicable to it in terms of Non-Banking Financial (Non- Deposit Accepting or Holding)Companies Prudential Norms (Reserve Bank) Directions 2007.

6. The company has complied with the prudential norms in respect of SystemicallyImportant Non-deposit taking NBFCs as defined in paragraph 2(1)(xix) of the Non-BankingFinancial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank)Directions 2007.

7. The company has furnished to the Bank the annual statement of capital funds riskassets/exposures and risk asset ratio (NBS-7)

For Jain Khetan Agarwal& Associates
(JKJS & Co.)Chartered Accountants
SD/-
CA. N. K. Khetan
Place : Mumbai Partner
Date : 18th August 2016 Membership No. : 044687