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S E Power Ltd.

BSE: 534598 Sector: Others
NSE: SEPOWER ISIN Code: INE735M01018
BSE LIVE 14:07 | 18 Aug 8.05 -0.09
(-1.11%)
OPEN

8.00

HIGH

8.90

LOW

8.00

NSE 15:31 | 21 Aug 7.70 -0.20
(-2.53%)
OPEN

7.70

HIGH

7.80

LOW

7.15

OPEN 8.00
PREVIOUS CLOSE 8.14
VOLUME 10561
52-Week high 26.10
52-Week low 5.57
P/E
Mkt Cap.(Rs cr) 33
Buy Price 8.05
Buy Qty 4.00
Sell Price 8.35
Sell Qty 300.00
OPEN 8.00
CLOSE 8.14
VOLUME 10561
52-Week high 26.10
52-Week low 5.57
P/E
Mkt Cap.(Rs cr) 33
Buy Price 8.05
Buy Qty 4.00
Sell Price 8.35
Sell Qty 300.00

S E Power Ltd. (SEPOWER) - Auditors Report

Company auditors report

TO

THE MEMBERS OF M/s S. E. POWER LIMITED VADODARA

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of M/s S. E. POWERLIMITED (the Company) which comprise of the Balance Sheet as at 31st March2016 the Statement of Profit and Loss 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 preparation ofthese standalone 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 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 adequateinternal financial 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 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company’s Directors 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:

1. In the case of the balance sheet of the state of affairs of the Company as at 31stMarch 2016;

2. In the case of the statement of profit and loss of the loss for the year ended onthat date; and

3. In the case of the cash flow statement of the cash flows for the year ended on thatdate;

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 sub-Section (11) ofSection 143 of the Companies Act 2013 we give in the Annexure a statement on the mattersspecified in paragraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Act we report that: a. We have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purpose of our audit; b. In our opinion proper books ofaccount as required by law have been kept by the Company so far as it appears from ourexamination of those books; c. The audit of all the branch offices of the Company has beenconducted by us hence section 143 (8) is not applicable; d. The Balance Sheet Statementof Profit and Loss and Cash Flow Statement dealt with by this Report are in agreement withthe books of account; e. In our opinion the aforesaid standalone financial statementscomply with the Accounting Standards specified under Section 133 of the Act read withRule 7 of the Companies (Accounts) Rules 2014. f. On the basis of written representationsreceived from the directors as on 31st March 2016 taken on record by theBoard of Directors none of the directors are disqualified as on 31st March2016 from being appointed as a director in terms of Section 164(2) of the Act. g. Withrespect to the adequacy of internal financial control over financial reporting of thecompany and operating effectiveness of such control. The Company has proper internalcontrol system. h. With respect to the other matters included in the Auditor’s Reportin accordance with Rule 11 of the Companies (Audit and Auditor’s) Rules 2014 in ouropinion and to the best of our information and according to the explanations given to us:i) The Company does not have any pending litigations which would impact its financialposition. ii) The Company does not have any long-term contracts including derivativescontracts for which there were any material foreseeable losses. iii) There has been nodelay in transferring amounts required to be transferred to the Investor Education andProtection Fund by the Company

Place : Vadodara For P M S & Co.
Date : 27th May 2016 Chartered Accountants
Firm Reg. No. 013398C
Sd/-
CA. ABHISHEK GUPTA
Partner
M. No. 407582

ANNEXURE TO AUDITOR’S REPORT OFM/s S. E. POWER LIMITED

(Referred to in our Report of even date for F. Y. 2015-16)

i. The Company has maintained proper records to show full particulars includingquantitative details and situation of fixed assets.

As explained to us the fixed assets have been physically verified by the management atreasonable interval. According to the information and explanations given to us nomaterial discrepancies were noticed on such verification.

According to information and explanations given to us the title deeds of immovableproperties are held in the name of the company.

ii. As explained to us inventories have been physically verified by the management atreasonable interval.

In our opinion and according to information and explanations given to us no materialdiscrepancies were noticed on physical verification.

iii. The Company has not granted any loans secured or unsecured to companies firmsLLP or other parties listed in the register maintained under Section 189 of the CompaniesAct 2013.

iv. According to the information and explanations given to us the provisions ofsection 185 and 186 of the Companies Act 2013 in respect of loans investmentsguarantees and security have been complied with.

v. Directives issued by Reserve Bank of India and Provisions of Section 73 to 76 or anyother relevant provisions of The Companies Act 2013 and the ruled framed there under arenot applicable to the Company.

vi. Maintenance of cost records under sub-section (1) of section 148 of the CompaniesAct 2013 are not applicable to the company.

vii. According to the information and explanations given to us the Company has beenregular in depositing with appropriate authorities undisputed statutory dues and there areno undisputed amounts of Income Tax Service Tax Cess Employees State Insurance WealthTax Sales Tax Customs Duty Excise Duty Provident Fund etc. outstanding as at the lastday of financial year concerned for a period of more than six months from the date theybecame payable.

There are no dues of Income Tax Sales Tax Service Tax Custom Duty Excise Duty andValue Added Tax on account of any dispute.

viii. The Company has not defaulted in the repayment of loans or borrowings to aFinancial Institution or Bank or Government or due to Debenture holders.

ix. According to the information and explanations given to us the Company had notraised money by way of initial public offer or further public offer during the year. Theterm loan raised during the year has been utilized for the purpose for which it has beentaken. x. According to the information explanations given to us no fraud by the companyor any fraud on the company by its officers or employees has been noticed or reportedduring the year.

xi. According to the information & explanations given to us provision of section197 read with Schedule V to the Companies Act 2013 for managerial remuneration paid orprovided have been complied with.

xii. According to the information & explanation given to us the Company is notNidhi Company; therefore this clause is not applicable to the company.

xiii. According to the information & explanation given to us the provisions ofsection 177 and188 of the Companies Act 2013 regarding transaction with related partieshave been complied with and details of the transaction as per applicable accountingstandard have been disclosed in the notes to accounts of the financial statements.

xiv. According to the information & explanation given to us this clause is notapplicable to the company because the company has not made preferential allotment orprivate placement of share or fully or partly convertible debenture during the year.

xv. According to the information & explanation given to us no non-cashtransactions with directors or persons connected with him have been taken place duringthe year hence the provisions of section 192 of the Companies Act 2013 are notapplicable to the company.

xvi. According to the information & explanation given to us the company does notrequire to be registered under section 45-IA of the Reserve Bank of India Act 1934.

Place : Vadodara For P M S & Co.
Date : 27th May 2016 Chartered Accountants
Firm Reg. No. 013398C
Sd/-
CA. ABHISHEK GUPTA
Partner
M. No. 407582