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Sahyog Multibase Ltd.

BSE: 539660 Sector: Financials
NSE: N.A. ISIN Code: INE052T01013
BSE LIVE 13:46 | 20 Nov 7.59 -0.38
(-4.77%)
OPEN

7.75

HIGH

7.75

LOW

7.59

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.75
PREVIOUS CLOSE 7.97
VOLUME 1000
52-Week high 37.80
52-Week low 7.59
P/E 12.44
Mkt Cap.(Rs cr) 2
Buy Price 7.59
Buy Qty 95.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.75
CLOSE 7.97
VOLUME 1000
52-Week high 37.80
52-Week low 7.59
P/E 12.44
Mkt Cap.(Rs cr) 2
Buy Price 7.59
Buy Qty 95.00
Sell Price 0.00
Sell Qty 0.00

Sahyog Multibase Ltd. (SAHYOGMULTIBASE) - Auditors Report

Company auditors report

To the Members of Sahyog Credits Limited

Report on the Financial Statements

We have audited the accompanying Financial Statements of M/s SAHYOG CREDITS LIMITED ("theCompany") which comprise the Balance Sheet as at March 31 2016 and the Statementof Profit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant 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 preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014( asamended). This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act safeguarding the assets of the Company;preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting 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

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 Auditor s Report under theprovisions 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 andthe disclosures in the financial statements. The procedures selected depend on the auditors 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. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company s Directors as well as evaluating the overall presentationof 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 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: (a). in the case of the Balance Sheet of the stateof affairs of the Company as at 31st March 2016: (b). in the case of the Statement of theProfit & Loss of the profit for the year ended on that date: and

(c) in the case of the Cash Flow Statement of the cash flows for the year endedon 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 mattersspecified in 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

Accounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014( as amended);

e. On the basis of written representations received from the directors as on

March 31 2016 and taken on the Board of Directors none of the directors isdisqualified as on March 31 2016 from being appointed as a director in terms of section164(2) of the Act.

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 A".

g. With respect to other matters to be included in the Auditors Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest of our information and according to the explanations given to us: i. the Company doesnot have any pending litigations which would impact its financial position. ii. TheCompany did not have any long-term contracts including derivative contracts for whichthere were any foreseeable losses. iii. There are no such amounts required to betransferred to the

Investor Education and Protection Fund by the Company.

For ARSK & Associates
Chartered Accountants
Firm Registration No. : 315082E
CA. Chetan Gutgutia
Partner
Membership No: 304386
Place: Kolkata
Date: 12.05.2016

ANNEXURE TO THE AUDITORS’ REPORT

The Annexure referred to in paragraph 1 of our Report of even date to the members of SAHYOGCREDITS LIMITED on accounts of the company for the year ended March 31 2016.

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

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

b) The fixed assets have been physically verified by the management during the yearwhich in our opinion is reasonable having regard to the size of the company and thenature of its assets. As informed no material discrepancies were noticed on suchverification.

c) The Company possesses no immovable property hence the requirement of title deeds ofimmovable properties are held in the name of the company is not applicable.

2. The management has conducted the physical verified by the management during theyear which in our opinion is reasonable having regard to the size of the company andthe nature of its assets. As informed no material discrepancies were noticed on suchphysical verification. The Company has maintained proper records of its inventories.

3. According to the information and explanation given to us & in our opinion thecompany has not granted interest free unsecured loan to a party covered in the registermaintained under section 189 of the Act.

4. In respect of loans investments and guarantees the Company has complied with theprovisions of Section 185 and 186 of the Act.

5. The Company has not accepted any deposits from public within the directives issuedby Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevantprovisions of the Act and the rules framed there under.

6. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the Company.

7. (a) According to the information and explanations given to us and the books andrecords examined by us the company is generally regular in depositing with theappropriate authorities the undisputed statutory dues relating to Provident FundEmployees State Insurance Income tax Wealth Tax Service Tax Cess and other statutorydues as applicable to it though there has been a slight delay in a few cases.

According to the information and explanations given to us no undisputed amountspayable in respect of Income tax Service Tax Cess and other material statutory dues werein arrears as at 31st March 2016 for a period of more than six months from the date theybecame payable.

b) According to the information and explanations given to us there are no dues ofIncome tax sales tax wealth tax service tax custom duty and excise duty which have notbeen deposited on account of any dispute.

8. The Company has not taken any loan from financial institution bank ordebenture-holders. Accordingly provisions of clause 4(viii) of the Companies (Auditor sReport) Order 2016 are not applicable to the Company.

9. In our opinion and according to the information & explanations given to us theCompany has not raised moneys by way of public issue/follow-on offer (including debtinstruments) and term loans.

10. According to the information and explanations given to us no fraud by the Companyor on the Company by its officers or employees has been noticed or reported during thecourse of our audit.

11. According to the information & explanations given to us managerialremuneration has been paid/provided in accordance with the requisite approvals mandated bythe provisions of Section 197 read with Schedule V to the Companies Act.

12. The provisions of special nature applicable to nidhi companies are not applicableto the Company.

13. In our opinion and according to information and explanations given to us alltransactions with the related parties are in compliance with sections 177 and 188 of theAct and the details of the same has been disclosed in the financial statements as requiredby the applicable accounting standards and Companies Act 2013.

14. In our opinion and according to the information and the explanations given to usthe Company has not made any preferential allotment/ private placement of shares or fullyor partly convertible debentures during the year under audit.

15. In our opinion and according to the information and the explanations given to usthe Company has not entered into any non-cash transactions with directors or personsconnected with them.

16. The Company has voluntarily surrendered its NBFC certificate during the year andhas got approval from RBI vide letter dated 18th March 2016 thus ceases to be an NBFCcompany w.e.f. 01/03/2016. Accordingly the company is not required to be registered undersection 45-IA of the Reserve Bank of India Act 1934.

For ARSK & Associates
Chartered Accountants
Firm Registration No. : 315082E
CA. Chetan Gutgutia
Place: Kolkata Partner
Date: 12.05.2016 Membership No: 304386