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SE Investments Ltd.

BSE: 532900 Sector: Financials
NSE: SEINV ISIN Code: INE420C01042
BSE LIVE 15:00 | 13 Dec 226.00 3.10
(1.39%)
OPEN

221.00

HIGH

226.00

LOW

221.00

NSE 15:31 | 13 Dec 225.65 6.90
(3.15%)
OPEN

224.40

HIGH

228.00

LOW

216.55

OPEN 221.00
PREVIOUS CLOSE 222.90
VOLUME 214
52-Week high 269.90
52-Week low 140.70
P/E 15.90
Mkt Cap.(Rs cr) 917
Buy Price 221.00
Buy Qty 28.00
Sell Price 226.75
Sell Qty 41.00
OPEN 221.00
CLOSE 222.90
VOLUME 214
52-Week high 269.90
52-Week low 140.70
P/E 15.90
Mkt Cap.(Rs cr) 917
Buy Price 221.00
Buy Qty 28.00
Sell Price 226.75
Sell Qty 41.00

SE Investments Ltd. (SEINV) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

M/S S. E. INVESTMENTS LIMITED NEW DELHI

REPORT ON THE STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying standalone financial statements of M/S S. E.INVESTMENTS LIMITED (“the Company”) which comprise the Balance Sheet as at31st March 2017 the Statement of Profit and Loss the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

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 maintenance of adequate accounting recordsin accordance 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 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 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 Company's Directors as well as evaluating the overall presentation ofthe 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 2017;

2. In the case of the Statement of Profit and Loss of the profit 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 (“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 Annexure ‘A' a statement on the matters specifiedin 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 audit of all the branch offices of the Company has been conducted by us hencesection 143 (8) is not applicable;

d. The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account;

e. 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.

f. On the basis of written representations received from the directors as on 31stMarch 2017 taken on record by the Board of Directors none of the directors are disqualied as on 31st March 2017 from being appointed as a director in terms of Section 164(2)of the Act.

g. With respect to the adequacy of internal financial control over financial reportingof the company and operating effectiveness of such control. The Company has properinternal control system.

h. With respect to the other matters included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditor's) 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 (other than in the ordinary courseof business) which would impact its financial position.

ii) The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company

iv) The Company has provided requisite disclosures in the Financial Statementsas to holdings as well as dealings in Specified Bank Notes (SBN) during the period from8th November 2016 to 30th December 2016 these disclosures are in accordance with booksof accounts maintained by the Company.

Place : New Delhi For R. LAL & COMPANY
Date : 28th April 2017 Chartered Accountants
Firm Reg. No. 000926C
Sd/-
(CA. RAM LAL AGRAWAL)
Proprietor
M. No. 017583

ANNEXURE ‘A' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in our Report of even date for F. Y. 2016-17)

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 of the company are held in the name of the company.

ii. As explained to us inventory have been physically verified by the management atreasonable interval and no material discrepancies were noticed during physicalverification.

iii. The Company has granted loans secured or unsecured to companies firms limitedliability partnership or other parties listed in the register maintained under Section 189of the Companies Act 2013.

The terms & conditions of grant of such loans are not prejudicial to the interestof the company.

The repayment/receipt of the principal and interest of loan granted is regular andthere is no amount which is overdue.

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. The Company is a Non Banking Financial (Non-Deposit Accepting or HoldingSystemically Important ND_SI) Company hence directives issued by Reserve Bank of Indiaand provisions of section 73 to 76 or any other relevant provisions of the Companies Act2013 and the Rules framed there under are not applicable to the Company.

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

vii. a) 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.

b) There are no dues of Income Tax Sales Tax Service Tax Custom Duty Excise Dutyand Value 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 dues 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 or term loan duringthe year.

x. According to the information explanations given to us no fraud by the company orany fraud on the company by its officers or employees has been noticed or reported duringthe 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 duly complied with.

xii. According to the information & explanation given to us the Company is NonBanking Financial (Non-Deposit Accepting or Holding Systemically Important ND_SI) Companytherefore the clause xii of para no. 3 of the said order is not applicable to the company.

xiii. According to the information & explanation given to us the provisions ofsection 177 and 188 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 the clause xiv of Parano. 3 of the said order is not applicable to the company because the company has not madepreferential allotment or private placement of share or fully or partly convertibledebenture 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 isregistered under section 45-IA of the Reserve Bank of India Act 1934 as Non BankingFinancial (Non-Deposit Accepting or Holding) Company.

Place : New Delhi For R. LAL & COMPANY
Date : 28th April 2017 Chartered Accountants
Firm Reg. No. 000926C
Sd/-
(CA. RAM LAL AGRAWAL)
Proprietor
M. No. 017583

ANNEXURE ‘B' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in our Report of even date for F. Y. 2016-17)

REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (I) OF SUB SECTION 3 OF SECTION143 OF THE COMPANIES ACT 2013

We have audited the internal financial controls over financial reporting of M/S S. E.INVESTMENTS LIMITED as of 31st March 2017 in conjunction with our audit of the standalonefinancial 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 (‘ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

AUDITOR'S 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 judgment 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 controls systemover 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 authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized 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 31st March 2017 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.

Place : New Delhi For R. LAL & COMPANY
Date : 28th April 2017 Chartered Accountants
Firm Reg. No. 000926C
Sd/-
(CA. RAM LAL AGRAWAL)
Proprietor
M. No. 017583