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Sanguine Media Ltd.

BSE: 531898 Sector: Others
NSE: N.A. ISIN Code: INE617F01038
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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.60
PREVIOUS CLOSE 0.60
VOLUME 22300
52-Week high 1.62
52-Week low 0.60
P/E 60.00
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.60
Sell Qty 463269.00
OPEN 0.60
CLOSE 0.60
VOLUME 22300
52-Week high 1.62
52-Week low 0.60
P/E 60.00
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.60
Sell Qty 463269.00

Sanguine Media Ltd. (SANGUINEMEDIA) - Auditors Report

Company auditors report

TO THE MEMBERS OF

SANGUINE MEDIA LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of SANGUINE MEDIA LIMITED("theCompany") which comprise the Balance Sheet as at 31stMarch 2015 theStatement of Profit and Loss and the cash flow statement for the year then ended and asummary of the 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) Rules2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls 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 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 o f the state of affairs of the Company as at 31stMarch2015 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 2015 (‘theOrder’) issued by the Central Government of India in exercise of power conferred bysub section 11 of section 143 of the Act we enclose in the Annexure a statement on thematters specified 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 asit 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 the written representations received from the directors as on 31stMarch 2015taken on record by the Board of Directors none of the directors isdisqualified as on31stMarch 2015 from being appointed as a director in termsof Section 164 (2) of the Act; and

f) 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 has disclosed the impact of pending litigations on its financialposition in its financial statements.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

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

For A. K. RAJAGOPALAN & Co.
Chartered Accountants
Firm Regd. No. 003405S
Sd/-
CA. T. R. ASHOK
Partner
Membership No: 026133
Place: Chennai
Dated: 29.05.2015

Annexure to the Independent Auditor’s Report

The Annexure referred to in our Independent Auditor’s Report to the members of theCompany on the financial statements for the year ended 31st March 2015 wereport that:

(i) (a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) The Company has a regular programme of physical verification of its fixed assetsand have been physically verified by the management at reasonable intervals during theyear and no material discrepancies have been noticed on such verification. In our opinionthis periodicity of physical verification is reasonable having regard to the size of theCompany and the nature of its assets.

(ii) (a) As per the information and explanations given to us the inventories have beenphysically verified by the management at reasonable intervals during the year.

(b) In our opinion and as per the information and explanations given to us proceduresof physical verification of inventory followed by the management are reasonable andadequate in relation to the size of the Company and nature of its business.

(c) The Company is maintaining proper records of inventories. In our opiniondiscrepancies noticed on physical verification of inventory were not material in relationto the operations of the Company and the same have been properly dealt with in the booksof account.

(iii) The company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of the CompaniesAct 2013 (‘the Act’)

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the company andthe nature of its business for the purchase of inventory and fixed assets and for thesale of inventory goods and services. During the course of our audit we have notobserved any major weakness in the internal control system.

(v) The Company has not accepted any deposits from the public within the meaning ofsection 73 of the Act and the rules framed there under.

(vi) In our opinion maintenance of cost records has been specified by the CentralGovernment under sub-section (1) of section 148 of the Companies Act are not applicableto the Company.

(vii) (a) According to the information and explanation given to us and on the basis ofour examination of the records of the Company amounts deducted/accrued in the books ofaccount in respect of undisputed statutory dues including Provident Fund Employees’State Insurance Income tax Wealth tax Sales tax Service tax Excise duty Value addedtax cess Professional tax and other material statutory dues have been regularlydeposited during the year by the Company with the appropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of Provident Fund Employees’ State Insurance Income-tax Salestax Excise duty Value added tax Wealth tax Cess Professional tax were in arrears asat March 31 2015 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 materialdues of income tax or sales tax or wealth tax or service tax or duty of customs or duty ofexcise or value added tax or cess have not been deposited on account of any dispute.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company there were no amounts which were required to betransferred to the Investor Education and Protection Fund by the Company accordingly theprovisions of clause 3(vii c) of the Order are not applicable to the Company.

(viii) The Company’s accumulated losses at the end of the financial year are lessthan fifty percent of its net worth. The Company has not incurred any cash losses in thecurrent financial year and in the immediately preceding financial year.

(ix) According to the information and explanations given to us the Company does nothave any borrowings from any financial institution or bank and does not issued anydebentures as at the balance sheet date accordingly the provisions of clause 3(9) of theorder are not applicable to the company.

(x) In our opinion and according to the information and the explanations given to usthe company has not given any guarantee for loans taken by others from bank or financialinstitutions. (xi) In our opinion and according to the information and the explanationsgiven to us the Company has not raised any term loans according the provision of clause3(11) are not applicable.

(xii) According to the information and explanations given to us no material fraud onor by the company has been noticed or reported during the course of our audit.

For A. K. RAJAGOPALAN & Co.
Chartered Accountants
Firm Regd. No. 003405S
Sd/-
CA. T. R. ASHOK
Partner
Membership No: 026133
Place: Chennai
Dated: 29.05.2015