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Omansh Enterprises Ltd.

BSE: 538537 Sector: Others
NSE: N.A. ISIN Code: INE378P01028
BSE LIVE 18:43 | 19 Oct 4.79 0
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4.56

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4.79

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4.56

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.56
PREVIOUS CLOSE 4.79
VOLUME 542
52-Week high 22.75
52-Week low 4.56
P/E 479.00
Mkt Cap.(Rs cr) 9
Buy Price 5.00
Buy Qty 458.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.56
CLOSE 4.79
VOLUME 542
52-Week high 22.75
52-Week low 4.56
P/E 479.00
Mkt Cap.(Rs cr) 9
Buy Price 5.00
Buy Qty 458.00
Sell Price 0.00
Sell Qty 0.00

Omansh Enterprises Ltd. (OMANSHENTERPRI) - Auditors Report

Company auditors report

To the Members of OMANSH ENTERPRISES LIMITED

Report on the Financial Statements

1. We have audited the accompanying financial statements of OMANSH ENTERPRISES 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

2. 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 to thepreparation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with rule 7 of Companies (Accounts) Rules2014. This responsibility includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; design implementation and maintenance of adequate internal financial controlsthat 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

3. Our responsibility is to express an opinion on these financial statements based onour audit. We have taken into account the provisions of the Act the accounting andauditing standards and matters which are required to be included in the audit report underthe provisions of the Act and the Rules made thereunder. We conducted our audit inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor'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 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 financial controls systemover financial 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's management and Board of Directors aswell as evaluating the overall presentation of the financial statements.

5. 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

6. 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 its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

7. As required by the Companies (Auditor's Report) Order 2016 ("the

Order") issued by the Central Government of India in terms of subsection (11) ofsection143 of the Act we give in the Annexure-A a statement on the matters Specified inparagraphs 3 and 4 of the Order.

8. As required by section 143(3) of the Act we further 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 statements comply with the applicableAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (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 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; and

g) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)

Rules 2014:

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; assuch the question of commenting on any material foreseeable losses thereon does not arise

iii. There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund. The question of delayin transferring such sums does not arise.

For Satyendra Mrinal & Associates
Chartered Acco untants
FRN: 017068N
S. K. Jain
Place: New Delhi Partner
Date: 11/05/2016 M.NO.086103

Annexure A to the Auditors Report

The Annexure referred to in Independent Auditor's Report to the members of the Companyon the financial statements for the year ended 31st March 2016

On the basis of such checks as we considered appropriate and according to theinformation and explanations 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 fixed assets;

(b) . As explained to us fixed assets have been physically verified by the managementat regular intervals and no material discrepancies were noticed on such verification;

(c) . As the Company has not acquired any immovable property during the year underaudit thus no comments under the subclause are required;

ii. The Company does not have any inventory. Hence the requirement of clause (ii) ofparagraph 3 of the said Order is not applicable to the Company

iii. The company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under section 189 of the Act.

iv. During the year under audit the Company has neither granted loan to its directorsor any other persons in whom the directors are interested nor it has given loan orguarantee in connection with loan or acquired securities of any other body corporate thenthe question of compliance of the provisions of Section 185 & 186 of the Act does notarise.

v The Company has not accepted any deposits from the public covered under Section 73 to76 of the Companies Act 2013

vi. As informed to us the Central Government has not prescribed maintenance of costrecords under sub-section (1) of Section 148 of the Act

vii. (a) According to the information and explanations given to us and based on therecords of the company examined by us the company is regular in depositing the undisputedstatutory dues including Income-tax Sales-tax and other statutory dues as applicablewith the appropriate authorities in India ;

(b) According to the information and explanations given to us and based on the recordsof the company examined by us there are no dues of Income Tax Sales Tax which have notbeen deposited on account of any disputes. However the Wealth Tax Service Tax CustomsDuty and Excise Duty were not applicable to the Company.

viii. According to the records of the company examined by us and as per the informationand explanations given to us the company has not availed of any loans from any financialinstitution banks or Government and has not issued debentures. Accordingly paragraph 3(viii) of the order is not applicable.

ix. The Company has not raised money by way of Initial Public Offer or further publicoffer (including debt instruments) and the Company has not raised/taken any terms loansthus the question of mis-utilization does not arise.

x. As per the information/explanation submitted to us no fraud by the Company or on theCompany by its officers or employees has been noticed or reported during the course ofour audit.

xi. As informed to us by the management and the record examined by us the Company hasnot paid or provided for any managerial Remuneration during the year under audit.

xii. The Company is not a nidhi Company thus no comments are required.

xiii. The Company has not entered into any transactions with the related parties thusno comments are required.

xiv. The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under audit.

xv. The Company has not entered into any non cash transactions with directors orpersons connected with them during the year under audit.

xvi. The Company is not required to be registered under Section 45 IA of the ReserveBank of India Act 1934.

For Satyendra Mrinal & Associates
Chartered Acco untants
FRN: 017068N
S. K. Jain
Place:New Delhi Partner
Date: 11/05/2016 M.NO.086103

Annexure B to the Auditors' Report

Report on the Internal Financial Controls under Clause (i) of subsection 3 of Section143 of Companies Act 2013 (‘the Act")

We have audited the internal financial controls over financial reporting of OmanshEnterprises Limited (‘the Company) as of 31st March 2016 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat 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"). Theseresponsibilities include the design implementation and efficient maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to the Company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financing 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 ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting were 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 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 of that in reasonable detail accurately and fairlyreflect 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 the receipts and expenditures of the Company are being made only inaccordance with authorizations of the Management and directors of the Company; and

(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the Company's asset 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 reporting to future periods are subject to the risk that the internalfinancial control over financial reporting may become inadequate because of changes inconditions or that the degree of compliance with the policies or procedures maydeteriorate.

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 2016based on 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 Satyendra Mrinal and Associates
Chartered Accountants
FRN: 017068N
S. K. Jain
Place: New Delhi Partner
Date: 11/05/2016 M.NO.086103