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Scanpoint Geomatics Ltd.

BSE: 526544 Sector: IT
NSE: N.A. ISIN Code: INE967B01028
BSE LIVE 15:46 | 22 Nov 21.00 -0.20
(-0.94%)
OPEN

21.80

HIGH

22.25

LOW

21.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 21.80
PREVIOUS CLOSE 21.20
VOLUME 10790
52-Week high 30.95
52-Week low 15.30
P/E 33.87
Mkt Cap.(Rs cr) 56
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 21.80
CLOSE 21.20
VOLUME 10790
52-Week high 30.95
52-Week low 15.30
P/E 33.87
Mkt Cap.(Rs cr) 56
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Scanpoint Geomatics Ltd. (SCANPOINTGEOMA) - Auditors Report

Company auditors report

To

The Members of

Scanpoint Geomatics Ltd.

Report on the Financial Statements

We have audited the accompanying financial statements of Scanpoint Geomatics Ltd.which comprise the Balance Sheet as at 31 March 2017 the Statement of Profit and Loss andthe Cash Flow Statement for the year then ended and a summary of significant accountingpolicies 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 accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

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.

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 31stMarch 2017 and its profit 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 2016 ("theOrder") issued by the Central Government in terms of Section 143(11) of the Act wegive in "Annexure" a statement on the matters specified in paragraph 3 and 4 ofthe 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 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 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 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms of Section164 (2) of the Act.

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 adequately made provision for amount involved in the pending courtlitigations in the books of account.

ii. The company did not have any material foreseeable losses on long term contractsincluding derivative contracts.

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

iv. The Company has provided disclosures in its financial statements as to holdings aswell as dealings in specified bank notes during the period from 8th November 2016 to 30thDecember 2016 and the same are in accordance with books of accounts maintained by thecompany.

For Manoj Acharya & Associates

Chartered Accountants

Manoj Acharya

Partner

Membership number: 45714

Firm’s registration number: 114984W

Place: Ahmedabad

Date: 29th May 2017

ANNEXURE TO THE INDEPENDENT AUDITORS REPORT

(Referred to in our report of even date to the members of Scanpoint GeomaticsLimited on the financial statements for the year ended March 31 2017)

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

i. FIXED ASSETS:

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

b) According to information and explanation given to us during the year themanagement conducted physical verification of certain fixed assets in accordance with itspolicy of physical verification in a phased manner. In our opinion such frequency isreasonable having regard to the size of the Company and the nature of its fixed assets. Asexplained to us the discrepancies noticed on physical verification as compared to bookrecords maintained were not material and have been properly dealt with in the books ofaccount.

c) In our opinion the company has disposed of certain Plant and Machinery which wasold and obsolete forming part of its fixed assets during the year which has no effect ongoing concern status of the Company.

d) According to information and explanation given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

ii. INVENTORIES:

According to the information and explanations given to us Physical verification ofinventory has been conducted at reasonable intervals by the management and no materialdiscrepancies were noticed on physical verification during the year.

iii. LOANS:

According to the information and explanations given to us during the year the Companyhas not granted any loans secured or unsecured to companies firm or other partiescovered in the register maintained under section 189 of companies Act 2013.

iv. LOANS INVESTMENTS AND GURANTEES:

According to the information and explanations given to us during the year the Companyis not entered into any transactions falling under section 185 and 186 of the CompaniesAct 2013.

v. PUBLIC DEPOSITS:

In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public to which the directives issued bythe Reserve Bank of India and the provisions of Section 73 and 76 or any other provisionsof the Companies Act 2013 or the rules framed there under apply.

vi. COST RECORDS:

As informed to us the Central Government had not prescribed maintenance of the costrecords under Sub Section (1) of Section 148 of the Companies Act 2013 in respect to theactivities carried out by the company.

vii. STATUTORY DUES:

a) The company has been generally regular in depositing with appropriate authoritiesundisputed statutory dues including Provident Fund Employee’s State InsuranceIncome–tax Sales tax service tax and other material Statutory Dues applicable toit. There were arrears as at 31st March 2017 for a period of more than six months fromthe date they became payable details of which are given here under.

Particulars Financial Year to which the amount relates Amount (Rs.)
Service Tax 2010-11 5018501/-
Professional Tax 2015-16 79360
Professional Tax 2016-17 42230
Tax Deducted at Source 2016-17 560419/-

b) According to the records of the Company no dues of sales tax income- tax customsexcise duty cess which have not been deposited on account of disputes.

viii. REPAYMENT OF DUES OF FINANCIAL INSTITUTIONS:

According to the information and explanations given to us the Company has notcommitted default in repayment of dues to banks and financial institutions. The Companyhas not borrowed any funds by way of issue of debentures.

ix. TERM LOAN / MONEY RAISED:

The company had not obtained any term loans during the previous years and the Companydid not raise any money by way of initial public offer or further public offer (includingdebt instruments).

x. FRAUD ON OR BY THE COMPANY:

To the best of our knowledge and according to the information and explanations given tous there have been no cases of fraud on or by the Company noticed or reported during theyear under report.

xi. MANAGERIAL REMUNERATION:

According to the information and explanations given to us the Company has paid /provided for managerial remuneration in accordance with the requisite approvals mandatedby the provisions of Section 197 read with Schedule V to the Act.

xii. NIDHI COMPANY:

In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

xiii. RELATED PARTIES TRANSACTIONS:

According to the information and explanations given to us and based on our examinationof the records of the Company transactions with the related parties are in compliancewith Section 177 and 188 of the Act where applicable and details of such transactions havebeen disclosed in the financial statements as required by the applicable accountingstandards.

xiv. PREFERENTIAL ALLOTMENT:

According to the information and explanations given to us and based on our examinationof the records of the Company the Company has not made any preferential allotment orprivate placement of shares or fully or partly convertible debentures during the year.

xv. NON CASH TRANSACTIONS:

According to the information and explanations given to us and based on our examinationof the records of the Company the Company has not entered into non-cash transactions withdirectors or persons connected with him. Accordingly paragraph 3(xv) of the order is notapplicable.

xvi. The Company is not required to be registered under Section 45-IA of theReserve Bank of India Act 1934.

For Manoj Acharya & Associates
Chartered Accountants
Manoj Acharya
Partner Place: Ahmedabad
Mem. No. 45714 Date: 29th May 2017
Firm Reg. No. 114984W