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Sai Moh Auto links Ltd.

BSE: 540066 Sector: Auto
NSE: N.A. ISIN Code: INE345U01019
BSE LIVE 09:44 | 15 Sep Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 12.50
PREVIOUS CLOSE 10.00
VOLUME 20
52-Week high 12.50
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 4
Buy Price 12.50
Buy Qty 190.00
Sell Price 0.00
Sell Qty 0.00
OPEN 12.50
CLOSE 10.00
VOLUME 20
52-Week high 12.50
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 4
Buy Price 12.50
Buy Qty 190.00
Sell Price 0.00
Sell Qty 0.00

Sai Moh Auto links Ltd. (SAIMOHAUTOLINK) - Auditors Report

Company auditors report

To the Members of

SAI MOH AUTO LINKS LIMITED

New Delhi

Report on the Financial Statements

We have audited the accompanying financial statements of SAI MOH AUTO LINKS LIMITED("the Company") which comprise the Balance Sheet as at March 31 2016 theStatement of Profit and Loss Cash Flow Statement for the year then ended and a summaryof 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 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. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

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 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 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 but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell as evaluating the overall presentation 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 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 March31 2016 and its Profit and its Cash Flow 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 ("theOrder") as amended issued by the Central Government of India in terms ofsub-section (11) of section 143 of the Act we give in the "Annexure A" astatement on the matters specified 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 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 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 (Standalone) financial statements comply with theAccounting 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 taken on record by the Board of Directors none of the directors is disqualified ason 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".

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:

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 forwhich there were any material foreseeable losses.

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

M/s. Kapil Dev & Associates
Chartered Accountants
Firm Regn. No. 025812N
Sd/-
Kapil Dev
Place: Delhi Proprietor
Dated: 30th May 2016 M. No. 525275

Annexure A to the Independent Auditors’ Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal RegulatoryRequirement’ of our report of even date to the financial statements of the Companyfor the year ended March 31 2016:

On the basis of such checks as we considered appropriate and in terms of theinformation and explanations given to us we further state as under:

1. (a) The company has no fixed assets.

(b) As the company does not have any fixed assets the clause relating to physicalverification of fixed assets at reasonable intervals by the management is not applicable.

(c) As the company does not have any fixed assets the clause relating to disposing offa substantial part of the fixed assets is not applicable.

2. The company has conducted physical verification of its inventory at reasonableinternals during the year and there is no any material discrepancies were noticed by themanagement of the company.

3. (a) The company has not granted any loans secured or unsecured to the companiesfirms or other parties covered in the register U/s. 189 of the Companies Act 2013.

(b) As the company has not granted any loans the terms and conditions of the grant ofsuch loans being prejudicial does not arise.

(c) As the company has not granted any loans no schedule of repayment of principal andinterest has been stipulated.

(d) As the company has not granted any loans there are no overdue amounts.

4. 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 Companies Act 2013in respect of loans investments guarantees and security.

5. The Company has not accepted any deposits from the public. Therefore the directiveissued by the Reserve Bank of India and the provision of section 73 to 76 or any otherrelevant provisions of the Companies Act 2013 and the rules framed there under does notarise.

6. As informed to us maintenance of cost records has not been prescribed by theCentral Government U/s. 148(1) of the Companies Act 2013.

7. (a) According to information and explanations given to us and on the basis of ourexamination of the books of account and records the company is regular in depositingundisputed statutory dues within in the prescribed time to the appropriate authorities andthere are no arrears of outstanding statutory dues as on the last day of the financialyear for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us there are no statutorydues which have not been deposited on account of any dispute.

8. According to the information and explanations given to us the company has notdefaulted in repayment of dues to any financial institution or banks.

9. According to the information and explanation given to us the company has not raisedany moneys by way of term-loans/IPOs. for the purpose for which those were raised.

10. Based on the audit procedures performed and the information and explanations givenby the management we report that no fraud by the company and nor any fraud on the companyby its officers or employees has been noticed or reported during the year.

11. Based on the audit procedures performed and the information and explanations givenby the management Managerial Remuneration (if any) has been paid or provided inaccordance with provisions of Companies Act 2013.

12. In our opinion the company is not a Nidhi company within the meaning of relevantlaw.

13. Based on the audit procedures performed and the information and explanations givenby the management all transactions with related parties are in compliance with section188 of the Companies Act 2013 and requisite details have been disclosed in the financialstatements as required by the applicable accounting standards.

14. Based on the audit procedures performed and the information and explanations givenby the management the company has not made any preferential allotment or privateplacement of shares or partly convertible debentures u/s 42 of the Companies Act 2013during the year.

15. Based on the audit procedures performed and the information and explanations givenby the management the company has not entered in to any non-cash transaction withdirectors or others in contravention of section 192 of the Companies Act 2013.

16. In our opinion the company is not required to be registered under section 45-IA ofthe Reserve Bank of India Act 1934.

M/s. Kapil Dev & Associates
Chartered Accountants
Firm Regn. No. 025812N
Sd/-
Kapil Dev
Place: Delhi Proprietor
Dated: 30th May 2016 M. No. 525275

Annexure B to the Independent Auditor’s Report of even date on the FinancialStatements of SAI MOH AUTO LINKS LIMITED.

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 SAI MOHAUTO LINKS LIMITED ("the Company") as of March 31 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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding 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 judgement 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 controlssystem over 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 authorisations 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 March 31 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.

M/s. Kapil Dev & Associates
Chartered Accountants
Firm Regn. No. 025812N
Sd/-
Kapil Dev
Place: Delhi Proprietor
Dated: 30th May 2016 M. No. 525275