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OK Play India Ltd.

BSE: 526415 Sector: Industrials
NSE: N.A. ISIN Code: INE870B01016
BSE LIVE 15:40 | 17 Oct 165.40 -5.45
(-3.19%)
OPEN

169.00

HIGH

170.00

LOW

162.35

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 169.00
PREVIOUS CLOSE 170.85
VOLUME 12011
52-Week high 239.40
52-Week low 103.50
P/E 661.60
Mkt Cap.(Rs cr) 308
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 169.00
CLOSE 170.85
VOLUME 12011
52-Week high 239.40
52-Week low 103.50
P/E 661.60
Mkt Cap.(Rs cr) 308
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

OK Play India Ltd. (OKPLAYINDIA) - Auditors Report

Company auditors report

To The Members of OK PLAY INDIA LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying financial statements of OK PLAY INDIA LIMITED("the Company") which comprise the Balance Sheet as at 31st March2016 the Statement of Profit and Loss and the Cash Flow Statement for the year then endedand a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone 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 preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes the maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting the frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of these financial statements that give a true and fair viewand are free from material misstatement 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 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 misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor's

judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Board of Director's as well as evaluating the overallpresentation 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 standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at March 31 2016 and its loss and its cash flows 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 Companies Act 2013 we give in the 'Annexure A' a statement on the matters specifiedin paragraphs 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 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 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 written representations received from the directors as on 31 March2016 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2016 from being appointed as a director in terms of section 164(2) of theAct.

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 :

a. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements as referred to in Note 27(1) to the financialstatements

b. The Company did not have any long term contracts including derivative contracts forwhich there are any material foreseeable losses.

c. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For D. S. CHADHA & ASSOCIATES
CHARTERED ACCOUNTANTS
(FRN 026723-N) sd/-
D. S. CHADHA
Place: New Delhi PROPRIETOR
Dated: 27th May 2016 M.N.015727

ANNEXURE A TO THE INDEPENDENT AUDITORS' REPORT

Annexure referred to in Independent Auditors' Report of even date to the members of OKPlay

India Limited for the year ended 31 March 2016

(i) (a) The Company has maintained proper records showing full particulars including

quantitative details and situation of fixed assets.

(b) The fixed assets are physically verified by the management according to a phasedprogramme designed to cover all items over a period which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets. Pursuant to theprogramme a portion of the fixed assets has been physically verified by the managementduring the year and no material discrepancies have been noticed on such 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) The inventories have been physically verified during the year by the management.In our opinion the frequency of verification is reasonable. In our opinion and accordingto the information and explanations given to us the Company has maintained proper recordsof its inventories and no material discrepancies were noticed on physical verification.

(iii) According to the information and explanations given to us the Company has notgranted during the year secured or unsecured loans to Companies firms or other partiescovered in the register maintained under section 189 of the Companies Act 2013.Accordingly clause (iii) (a) (b) and (c) of the order are not applicable.

(iv) In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Section 185 and 186 of the Act with respectto the loans and investments made.

(v) In our opinion and according to the information and explanations given to us theCompany has not accepted any deposit from the public. Therefore the provisions of clause(v) are not applicable to the company.

(vi) According to the information and explanations given to us the Central Governmenthas prescribed maintenance of cost records under section 148(1) of the Companies Act 2013in respect of manufacturing activities of the company. We have broadly reviewed theaccounts and records of the company in this connection and are of the opinion that primafacie the prescribed accounts and records have been made and maintained. We have nothowever carried out a detailed examination of the same.

(vii) (a) According to the records of the Company the Company is generally regular indepositing with appropriate authorities undisputed statutory dues including providentfund employees state insurance income tax sales tax service tax duty of customs dutyof excise value added tax cess and other material statutory dues applicable to it exceptthe following which are outstanding for more than six months.

Nature of the Dues Amount (Rs) Period to which the amount relates Due Date Date of Payment Remarks if any
Sales Tax 1569300.00 2009-10 30/04/2014 21/04/2016
Sales Tax 301565.00 2011-12 30/06/2015 17/05/2016
Sales Tax 584623.00 2012-13 04/05/2015

(b) According to the information and explanations given to us there are no materialdues of income tax service tax duty of customs duty of excise value added tax and cesswhich have not been deposited with the appropriate authorities on account of any disputeexcept the following:

Nature of the Dues Amount (Rs) Period to which the amount relates Forum where dispute is pending Remarks if any
Penalty under the Central Excise Act 2937276.00 1996-97 Central Excise & Service Tax Appellate Tribunal

(viii) According to the information and explanations given to us the Company hasdefaultec in the repayment of dues to financial institutions and banks as under:

Particulars Amount of default as at balance sheet date (Rs.) Period of default Remarks
Indian Overseas Bank 625001 1 month Paid on 8th April 2016
Indian Overseas Bank 625001 1 day Paid on 16th April 2016
Indian Overseas Bank 1677044.00 Maximum period of 1 month Paid on 16th April 2016
Indian Overseas Bank 41409875.00 1 day Unpaid
Indian Overseas Bank 1304173.20 1 month Paid on 5th May 2016
Indian Overseas Bank 1866486.17 1 day Unpaid
Mentor Financial Services Ltd 180000.00 1 day Paid on 3rd May 2016

(ix) According to the information and explanations given to us the Company has raisednew term loans during the year but has not raised any money by way of initial public offeror further public offer (including debt instruments). The term loans outstanding at thebeginning of the year and those raised during the year have been applied for the purposefor which the loans were raised.

(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 Act.

(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 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 Section 45-IA of the ReserveBank of India Act 1934.

For D. S. CHADHA & ASSOCIATES
CHARTERED ACCOUNTANTS
(FRN 026723-N)
sd/-
D. S. CHADHA
Place: New Delhi PROPRIETOR
Dated: 27th May 2016 M.N.015727

ANNEXURE B TO THE INDEPENDENT AUDITORS' REPORT

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 OK PlayIndia Limited ('the Company') as of 31 March 2016 in conjunction with our audit of thestandalone 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 the 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 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 deemed to beprescribed under Section 143(10) of the Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting were established and maintained and if suchcontrols 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 auditors' 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 controls systemover 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 ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the Company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the Company are being made only in accordance with authorizations of theManagement and directors of the Company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of theCompany's assets that could have a material 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 31 March 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 D. S. CHADHA & ASSOCIATES
CHARTERED ACCOUNTANTS
(FRN 026723-N)
sd/-
D. S. CHADHA
Place: New Delhi PROPRIETOR
Dated: 27th May 2016 M.N.015727