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Nutech Global Ltd.

BSE: 531304 Sector: Industrials
NSE: N.A. ISIN Code: INE960H01012
BSE LIVE 12:35 | 22 Sep 9.50 -0.50
(-5.00%)
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9.50

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9.50

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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.50
PREVIOUS CLOSE 10.00
VOLUME 1
52-Week high 12.01
52-Week low 9.10
P/E 47.50
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.50
Sell Qty 2177.00
OPEN 9.50
CLOSE 10.00
VOLUME 1
52-Week high 12.01
52-Week low 9.10
P/E 47.50
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.50
Sell Qty 2177.00

Nutech Global Ltd. (NUTECHGLOBAL) - Auditors Report

Company auditors report

To

The Shareholders of

NUTECH GLOBAL LIMITED

Jaipur

Report on the Financial Statements

We have audited the accompanying financial statements of NUTECH GLOBAL LIMITED("the Company") which comprise the Balance Sheet as at March 31 2016 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 ("the Act") with respect to the 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 accounting principlesgenerally accepted in India including the Accounting Standards referred to in section 133of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the design implementation and maintenance of adequateinternal control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

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 the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management 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.

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 the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2016; (b) in the case of the Profit and Loss Account of the profit/ loss forthe year ended on that date; and (c) in the case of the Cash Flow Statement of the cashflows 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 ("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 statement on the matters specified in the paragraph 3and 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 by theCompany 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 standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014 to the extent applicable ;

(e) on the basis of the written representations received from the directors as on 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms of Section164 (2) of the Act; and

(f) 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. Since the Central Government has not issued any notification as to the rate at whichthe cess is to be paid under section 441A of the Companies Act 1956 nor has it issued anyRules under the said section prescribing the manner in which such cess is to be paid nocess is due and payable by the Company

ii. As the Company has not declared any dividend in the past years & there is nounpaid dividend so there is no requirement of transfer of amount in Investor Education& Protection fund (IEPF).

For O.P. DAD & CO.
Chartered Accountants
(Firm Reg. No. 002330C)
Date: 30-05-2016 Sd/-
(O.P. DAD)
Partner
M. No. 035373

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date)

On the basis of such checks as we considered appropriate and according to theinformation & explanation given to us during the course of our audit we report that:

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

(b) As explained to us all the fixed assets have been physically verified by themanagement in a phased periodical manner which in our opinion is reasonable havingregard to the size of the Company and nature of its assets. No material discrepancies werenoticed on such physical verification.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

ii.

As explained to us inventories have been physically verified during the year by themanagement at reasonable intervals on the basis of our examination of the records theCompany is generally maintaining proper records of its inventories. No materialdiscrepancy was noticed on physical verification of stocks by the management as comparedto book records.

iii. According to the information & explanations given to us and on the basis ofour examination of the books of account the Company has not granted any loans secured orunsecured to companies firms or other parties listed in the register maintained underSection 189 of the Companies Act 2013. Hence clause (iii) (a) (b) & (c) is notapplicable to the company as the company has not granted any such loans.

iv. According to the information & explanations given to us and on the basis of ourexamination of the books of account the Company has not granted any loan to directors.

v. The Company has not accepted any loans/deposits from public. In our opinion andaccording to the information and explanation given to us the provisions of Section 73 and76 of the Companies Act 2013 and the Rules framed there under wherever applicable arebeing complied with. No order has been passed by company law board against the company.

vi. As per information and explanations given to us the Central Government has notprescribed maintenance of cost records for company's products under section 148(1) of theCompanies Act.

vii.

a. According to the records of the Company undisputed statutory dues includingProvident Fund Employees State Insurance Income Tax Custom Duty Sales Tax ExciseDuty VAT Cess and other statutory dues have been regularly deposited with theappropriate authorities. According to the information and explanation given to us noundisputed amounts payable in respect of the aforesaid dues were outstanding as at 31stMarch 2016 for a period of more than six months from the date they have become payable.

b. According to the information & explanations given to us and the records examinedby us there is no amount which have not been deposited on account of any disputed amountpayable in respect of income tax service tax sales tax customs duty and excise dutyVAT and cess.

viii. Based on our audit procedures and on the information & explanations given bythe management we are of the opinion that the Company has not defaulted in repayment ofdues to a financial institutions banks or debenture holders.

ix. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company did not raise any money by way ofinitial public offer or further public offer (including debt instruments) and term loansduring the year. Accordingly paragraph 3(ix) of the Order is not applicable.

x. In our opinion and according to the information & explanations given to us wereport that no material fraud on or by the company has been noticed or reported during theyear nor have we been informed of such case by the management.

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 Act.

xii. In our opinion and according to the information and explanations give to us theCompany is not a Chit Fund / Nidhi / Mutual Benefit Fund / Society. Therefore theprovision of clause 3(xii) of the Companies (Auditor's Report) Order 2016 is notapplicable to the Company.

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 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. The Company is not required to be registered under sec. 45-IA of the Reserve Bankof India Act1934.

For O.P. DAD & CO.
Chartered Accountants
(Firm Reg. No. 002330C)
Date: 30-05-2016 Sd/-
(O.P. DAD)
Partner
M. No. 035373

ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE STANDALONE FINANCIALSTATEMENTS OF NUTECH GLOBAL LIMITED

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of NUTECHGLOBAL LIMITED ("the Company") as of March 31 2016 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

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 issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia.

Those Standards and the Guidance Note require that we comply with ethical requirementsand plan and perform the audit to obtain reasonable assurance about whether adequateinternal financial controls over financial reporting was established and maintained and ifsuch controls operated effectively in all material respects. Our audit involves performingprocedures to obtain audit evidence about the adequacy of the internal financial controlssystem over financial reporting and their operating effectiveness. Our audit of internalfinancial controls over financial reporting included obtaining an understanding ofinternal financial controls over financial reporting assessing the risk that a materialweakness exists and testing and evaluating the design and operating effectiveness ofinternal control based on the assessed risk. The procedures selected depend on theauditor's judgement including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. We believe that the audit evidence wehave obtained is sufficient and appropriate to provide a basis for our audit opinion onthe Company's internal financial controls system 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 financialreporting includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect 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 generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on 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 March 31 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For O.P. DAD & CO.
Chartered Accountants
(Firm Reg. No. 002330C)
Date: 30-05-2016 Sd/-
(O.P. DAD)
Partner
M. No. 035373