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Pawansut Holdings Ltd.

BSE: 535658 Sector: Financials
NSE: N.A. ISIN Code: INE260M01017
BSE LIVE 15:40 | 17 Nov 4.62 0.17
(3.82%)
OPEN

4.67

HIGH

4.67

LOW

4.23

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.67
PREVIOUS CLOSE 4.45
VOLUME 203267
52-Week high 23.85
52-Week low 4.14
P/E 462.00
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.67
CLOSE 4.45
VOLUME 203267
52-Week high 23.85
52-Week low 4.14
P/E 462.00
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Pawansut Holdings Ltd. (PAWANSUTHOLDING) - Auditors Report

Company auditors report

The Members of Pawansut Holdings Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Pawansut Holdings Limited("the company")which comprise the Balance Sheet as at 31 March 2016 theStatement of Profit and Loss the 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 stated in section134(5) of the Companies Act 2013 ("the Act") with respect to the preparationand presentation 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 also includes the maintenance of adequate accountingrecords in accordance with the provision of the Act for safeguarding of the assets of theCompany and for preventing and detecting the frauds and other irregularities; selectionand application of appropriate accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of adequateinternalfinancial 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 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 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 financial control relevant to the Company's preparation of thefinancial statements that give 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 operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's Directors as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidences we have obtained 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 of the state of affairs of the Company as at 31 stMarch2016 its profit/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 2015("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 paragraphs 3 and4 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 Cash Flow Statement dealtwith 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) 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) Rules2014:

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 derivatives contractsfor which there were any material foreseeable losses.

iii. There were no amounts which required to be transferred by the

Company to the Investor Education and Protection Fund.

For S.K. SINGLA &ASSOCIATES
Chartered Accountants
(Firm Registration No.: 005903N)
Sd/-
(CA Vinod Kumar)
Place: New Delhi Partner
Date: 30-05-2016 (Membership No.: 096532)

AUDITOR'S REPORT

To

The Board of Directors

Pawansut Holdings Ltd.

Delhi.

We have audited the attached Balance Sheet of Pawansut Holdings Ltd. As on 31.03.2016and Profit & Loss Account for the year ended 31.03.2016 annexed hereto and reportthat:-

1. The Company has obtained the Certificate of Registration from the Reserve Bank ofIndia under section 45-IA of RBI Act 1934.

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

3. The Company has not accepted any public deposits during the relevant year.

4. The Company has complied with the prudential norms relating to income recognitionaccounting standards assets classification and provisioning for bad & doubtful debtsas applicable to it.

For S.K. SINGLA & ASSOCIATES
Chartered Accountants
(Firm Registration No. : 005903N)
Sd/-
(CA Vinod Kumar)
Place: New Delhi Partner
Date: 30- 05-2016 (Membership No.: 096532)

Annexure-A to the Auditors' Report

[Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements'of our Report of even date to the members of Pawansut Holdings Limited on the accounts ofthe company for the year ended 31 st 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. In respect of its fixed assets:

(a) The Company has maintained proper records showing full particulars includingquantitative details and situation of the fixed assets.

(b) As explained to us fixed assets have been physically verified by the managementduring the year in accordance with the phased programme of verification adopted by themanagement which in our opinion provides for physical verification of all the fixedassets at reasonable intervals. According to the information and explanations given to usno material discrepancies were 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 no immovable properties are owned by thecompany.

ii. In respect of its inventories.

a) As explained to us the inventories of finished goods semi-finished goods storesspares parts and raw material were physically verified at regular interval by themanagement. In case of inventories lying with third parties certificates of stocksholding have been received.

b) In our opinion and according to the information and explanation given to us theprocedures of physical verification of inventories followed by the Management werereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c) In our opinion and according to the information and explanations given to us thecompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification of stocks as compared to book records.

iii. According to the information and explanations given to us the Company has grantedsecured & unsecured loans to companies firms or other parties covered in the Registermaintained under Section 189 of the Companies Act 2013; and therefore paragraph 3(iii) ofthe Order is not applicable.

iv. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase of fixed assets and for the sale of goods andservices. During the course of our Audit we have not observed any continuing failure tocorrect major weaknesses in internal control.

v. In our opinion and according to the information and explanations given to us TheCompany has not accepted deposits during the year and do not have any unclaimed deposits.Therefore the provisions of the clause 3 (v) of the Order are not applicable to thecompany.

vi. The provisions of clause 3 (vi) of the Order are not applicable to the company asthe respective entities are not covered by the Companies (Cost Records and Audit) Rules2014.

vii. In respect of statutory dues:

(a) According to the records of the company and information and explanations given tous the Company has generally been regular in depositing undisputed statutory duesincluding Provident Fund employees state insurance (ESI) Investor Education andProtection Fund Income-tax Tax deducted at sources Tax collected at sourceProfessional Tax Sales Tax value added tax (VAT) Wealth Tax Service Tax Custom DutyExcise Duty Cess and other material statutory dues applicable to it with the appropriateauthorities.

(b) According to the information and explanations given to us there were no undisputedamounts payable in respect of Income-tax Wealth Tax Custom Duty Excise Duty sales taxVAT Cess and other material statutory dues in arrears /were outstanding as at 31 March2016 for a period of more than six months from the date they became payable.

(c) There were no amounts which required to be transferred by the Company to theInvestor Education and Protection Fund.

viii. The company does not have the accumulated losses at the end of financial year.The company has not incurred any Cash losses during the financial covered by our Audit andthe immediately preceding financial year.

ix. In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to financial institutions banks anddebenture holders.

x. In our opinion and according to the information and the explanation given to usthe company has not given any guarantee for loans taken by others from banks or financialinstitutions during the year. Therefore the provisions of the clause 3(x) of the Orderare not applicable to the company.

xi. The company has not obtained any term loan during the year so this para of orderis not applicable.

xii. To the best of our knowledge and belief and according to the information andexplanations given to us no fraud by the Company and no material fraud on the Company hasbeen noticed or reported during the year.

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 in to non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

xvi. The Company is required to be registered under section 45-IA of the

Reserve Bank of India Act 1934 and it has obtained the registration.

For S.K. SINGLA &ASSOCIATES

Chartered Accountants

(Firm Registration No.: 005903N)

Sd/-

(CA Vinod Kumar)

Partner

(Membership No.: 096532)

Place: New Delhi

Date: 30-05-2016

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 PawansutHoldings Limited ("the Company") as of 31 March 2016 in conjunction with ouraudit of the 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 company's policies the safeguarding of its assets theprevention 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 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 was 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 auditor's 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 ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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 S.K. SINGLA &ASSOCIATES
Chartered Accountants
(Firm Registration No.: 005903N)
Sd/-
(CA Vinod Kumar)
Place: New Delhi Partner
Date: 30-05-2016 (Membership No.: 096532)