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Northlink Fiscal & Capital Services Ltd.

BSE: 539110 Sector: Others
NSE: N.A. ISIN Code: INE736P01019
BSE LIVE 14:14 | 12 Dec 22.40 0
(0.00%)
OPEN

22.40

HIGH

22.40

LOW

22.40

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 22.40
PREVIOUS CLOSE 22.40
VOLUME 2000
52-Week high 22.41
52-Week low 7.10
P/E 112.00
Mkt Cap.(Rs cr) 8
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 22.40
CLOSE 22.40
VOLUME 2000
52-Week high 22.41
52-Week low 7.10
P/E 112.00
Mkt Cap.(Rs cr) 8
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Northlink Fiscal & Capital Services Ltd. (NORTHLINKFISCAL) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR’S REPORT

To the Members of

NORTHLINK FISCAL AND CAPITAL SERVICES LIMITED

Report on Financial Statements

We have audited the accompanying financial statements of NORTHLINK FISCAL ANDCAPITAL SERVICES LIMITED ("the Company") which comprise the Balance Sheetas at March 31 2016 and the Statement of Profit and Loss and Cash Flow Statement for theyear then ended and a summary of significant accounting policies and other explanatoryinformation.

Managements’ Responsibility for the Financial Statements

The company’s Board of Directors is responsible for the matters stated in Section134 (5) of The Companies Act2013 ("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 under133 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 of 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.

Auditors’ 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 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 anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial

Fiscal and Capital Services Ltd.

statements whether due to fraud or error. In making those risk assessments theauditor considers internal control relevant to the Company’s preparation of thefinancial statement that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the company has in place an adequate internal controls systems overfinancial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by the Company Directors as well as evaluating theoverall 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 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 2016 and its profit and its cash flows for the year ended on that date except thefollowing.

a. The company is not registered with Service Tax Act for the Goods Transport Agencyservice availed during the year 2015-16 and not paid any service tax on the payment offreight paid.

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 section 143 of the Actwe give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of theOrder.

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 purpose of our audit;

b) In our opinion proper books of account as required by law have been kept by theCompany so far as appears from our examination of those books;

c) The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statement comply with the AccountingStandards specified under Section 133 of the Act 2013 read with the rule 7of the Companies(Accounts) Rules 2014.

e) On the basis of written representations received from the directors as on March 312016 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the other maters 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) The company has no pending litigation with any department so no impact on itsfinancial statements;

ii) As there is not any material foreseeable losses on long term contracts thereforethe company has not made any provision required under the applicable law or accountingstandards.

iii) There has been no delay in transferring amounts required to be transferred ifany to the investor Education and Protection Fund by the Company.

Place : LUDHIANA For PARMOD G GUPTA & ASSOCIATES
Dated : 30.05.2016 CHARTERED ACCOUNTANTS
(FIRM’S REG. NO. 018870 N)
Sd/-
(PARMOD GUPTA)
PARTNER
M. NO. 096109

ANNEXURE REFERRED TO IN PARAGRAPH 1 OF REPORT ON OTHER LEGAL AND REGULATORYREQUIREMENT‘S PARAGRAPH OF OUR REPORT ON THE FINANCIAL STATEMENT OF EVEN DATE.

(i) (a) The company has maintained the proper records showing the full particularsincluding quantitative details and situation of all the fixed assets.

(b) The fixed assets are physical verified by the management according to a phasedprogramme designed to cover all the items every year which in our opinion isreasonable having regard to the size of the Company and the nature of its assets. Pursuantto the programme a portion of the fixed assets has been physically verified by themanagement during the year and no material discrepancies were noticed on suchverification.

(c) The company has no immoveable property during the year under review.

(ii) (a) In our opinion and according to the information and explanations given to us the inventory has been physically verified by the management during the year.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification followed by the management are reasonable and adequatein relation to the size of the company and the nature of its business.

(c) In our opinion and according to the information and explanations given to us theCompany is maintaining proper records of inventories. As explained to us thediscrepancies noticed on verification between the physical stock and the book records werenot material and have been properly dealt with in the books of accounts.

(iii)(a) As per information & explanation given to us the company is NBFC andgiven unsecured loan during the year 2015-16 to the other parties Rs. 5.00 Lac and thetotal o/s balance is Rs. 93.21 Lac which are covered in the register maintained undersection 189 of the Companies Act 2013.

(b) The company is receiving the interest regularily.

(c) There is no overdue amount o/s as on 31.3.2016.

(iv) In our opinion and according to the information and explanations given to us thecompany has complied with the provision of section 185 and 186 of the Act with respect tothe loans and investment made.

(v) The Company has not accepted any deposits from the public within the meaning ofdirectives issued by the Reserve Bank of India and provisions of section 73 to 76 or anyother relevant provisions of the Companies Act 2013 and the rules framed there under.

(vi) The Central Govt. has not prescribed the maintenance of cost records under section148(1) of the Companies Act 2013 for any of the services/material rendered or supply bythe 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 respect of provided fund investor education and protectionfund employee’s state insurance income tax sale tax wealth tax customs dutyexcise duty cess and other material statutory dues as applicable with the appropriateauthorities. Further there were no undisputed amounts outstanding at the year-end for aperiod of more than six months from the date they became payable except of service tax onfreight.

(b) According to the information and explanations given to us and the records of theCompany examined by us the company has no dues of Income Tax Sales tax Custom DutyWealth tax Excise duty Service Tax and cess which have not been deposited on account ofany dispute.

(viii) According to the records of the company examined by us and the information andexplanation given to us in our opinion the company has not defaulted in repayment of itsdues to banks/ financial institutes.

(ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) except of term loans for the purchase of vehicleduring the year which is applied for the purchase of the vehicle only.

(x) According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

(xi) According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to The Companies Act 2013.

(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 on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations give to us and based on ourexamination of the records of the company the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during theyear.

(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 with regards to acquisition orto be acquired any fixed assets. Accordingly paragraph 3(xv) of the Order is notapplicable.

(xvi) The company is registered with Reserve Bank of India vide certificate No.06.00130 dt. 09.09.1998.

Place : LUDHIANA For PARMOD G GUPTA & ASSOCIATES
Dated : 30.05.2016 CHARTERED ACCOUNTANTS
(FIRM’S REG. NO. 018870 N)
Sd/-
(PARMOD GUPTA)
PARTNER
M. NO. 096109