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Shree Tulsi Online.Com Ltd.

BSE: 590128 Sector: IT
NSE: N.A. ISIN Code: INE130D01037
BSE LIVE 09:57 | 22 Nov 10.51 0.50
(5.00%)
OPEN

10.51

HIGH

10.51

LOW

10.51

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 10.51
PREVIOUS CLOSE 10.01
VOLUME 500
52-Week high 20.45
52-Week low 9.35
P/E 210.20
Mkt Cap.(Rs cr) 25
Buy Price 0.00
Buy Qty 0.00
Sell Price 10.51
Sell Qty 2960.00
OPEN 10.51
CLOSE 10.01
VOLUME 500
52-Week high 20.45
52-Week low 9.35
P/E 210.20
Mkt Cap.(Rs cr) 25
Buy Price 0.00
Buy Qty 0.00
Sell Price 10.51
Sell Qty 2960.00

Shree Tulsi Online.Com Ltd. (SHREETULSIONLI) - Auditors Report

Company auditors report

To

The Members of

Shree Tulsi Online.Com Limited

Report on the Financial Statements:

We have audited the accompanying financial statements of Shree Tulsi Online.ComLimited ("the Company") which comprise the Balance Sheet as at 31stMarch 2016 the Statement of Profit and Loss the Cash Flow Statement for the year thenended and a summary of 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 of 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 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. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by Company’s Directors as well as evaluating theoverall 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 31stMarch 2016 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 of India in terms of sub-section (11) ofSection 143 of the Act we give in the "Annexure A" a statement on the mattersspecified 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 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 written representations received from the directors as on 31stMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director interms of Section 164(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 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.

For Mohindra Arora & Co.
Chartered Accountants
(Firm Regn No : 006551N)
Ashok Kumar Katial
Place :: Mumbai (Partner)
Date :: 26/05/2016 M.No :: 09096

"ANNEXURE A" TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 1 under the heading 'Report on Other Legal and RegulatoryRequirements' of our Report of even date)

(i) In respect of its fixed assets:

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

(b) As explained to us the Fixed assets have been physically verified by themanagement at reasonable intervals. No material discrepancies were noticed on suchphysical verification.

(c) According to the information and explanations given to us there are no immovableproperties owned by the Company under Fixed Assets. Accordingly paragraph 3 (i) (c) ofthe Order is not applicable to the Company.

(ii) As explained to us Inventories have been physically verified by the Management atreasonable intervals. In our opinion the frequency of verification is reasonable. Nomaterial discrepancies were noticed on such physical verification.

(iii) The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained underSection 189 of the Companies Act 2013. Accordingly clauses 3 (iii) (a) to (C) ofparagraph 3 of the Order are not applicable to the Company.

(iv) According to the information and explanations given to us the Company has notdirectly or indirectly advanced loan to the persons covered under Section 185 of theCompanies Act 2013 or given guarantees or securities in connection with the loan taken bysuch persons. The Company has complied with the provisions of Section 186 of the Act inrespect of investments made and long term loans and advances given to other partiesoutstanding at the year- end except that such advances are given interest free.

(v) In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public in terms of the directives issuedby the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevantprovisions of the Companies Act 2013 and the rules framed thereunder.

(vi) As informed to us the maintenance of Cost Records has not been specified by theCentral Government under subsection (1) of Section 148 of the Companies Act 2013 inrespect of the activities carried on by the company.

(vii) In respect of its statutory dues:

(a) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company is generally regular in depositingundisputed statutory dues including provident fund employees’ state insuranceincome tax sales-tax service tax duty of customs duty of excise value added tax cessand any other statutory dues as applicable to the Company with the appropriateauthorities. According to the information and explanations given to us no undisputedamounts payable in respect of the aforesaid statutory dues were outstanding as 31stMarch 2016 for a period of more than six months from the date they became payable.

(b) According to the records of the Company there are no dues of sales tax or servicetax or duty of customs or duty of excise or value added tax which have not been depositedon account of any dispute other than the Income Tax . According to the Information andexplanations given to us the dues in respect of Income Tax that has not been depositedwith appropriate authorities on account of dispute and the forum where the disputes arepending are given below :

Name of the Statute Nature of Dues Period to which it relates Amount in Rs. Forum where dispute is pending
Income Tax Act 1961 Income Tax A.Y. : 2012-2013 1523656/- ITO

(viii) The Company has not raised loans from financial institutions or banks orgovernment or by issue of debentures.Accordingly paragraph 3 (viii) of the Order is notapplicable to the Company.

(ix) The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3 (ix) of the Order is not applicable to the Company.

(x) According to the information and explanations given to us no fraud by the Companyor no fraud on the Company by its officers or employees has been noticed or reportedduring the year.

(xi) According to the information and explanations given to us managerial remunerationhas been paid or provided in accordance with the requisite approvals mandated by theprovisions of the Section 197 read with Schedule V to the Companies Act 2013.

(xii) In our Opinion the company is not a Nidhi company. Accordingly paragraph 3(xii) of the Order is not applicable to the Company.

(xiii) According to the information and explanations given to us during the year underreview the Company has not entered into any transaction with Related Parties that requireapproval under Section 177 and Section 188 of the Companies Act 2013 and the rules madethereunder. Accordingly paragraph 3(xiii) of the Order is not applicable to the Company.

(xiv) During the year under review the Company has not made any preferential allotmentor private placement of shares or fully or partly convertible debentures. Accordinglyparagraph 3(xiv) of the Order is not applicable to the Company.

(xv) According to the information and explanations given to us the Company has notentered into any non-cash transactions with directors or persons connected with them andcovered under Section 192 of the Companies Act 2013. Accordingly paragraph 3(xv) of theOrder is not applicable to the Company.

(xvi) According to the information and explanations given to us the Company is notrequired to be registered under Section 45- IA of the Reserve Bank of India Act 1934.

For Mohindra Arora & Co.
Chartered Accountants
(Firm Regn No : 006551N)
Ashok Kumar Katial
Place :: Mumbai (Partner)
Date :: 26/05/2016 M.No :: 09096

"ANNEX1JRE B" TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 2(f) under the heading 'Report on Other Legal and RegulatoryRequirements' of our Report of even date)

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 Shree TulsiOnline.Com Limited ("the Company") as of 31st March 2016 inconjunction with our audit of the financial statements of the Company for the year endedon 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 Reporting (the"Guidance Note") issued by the Institute of Chartered Accountants ofIndia(ICAI). These responsibilities include the design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of its business including adherence to Company’spolicies the safeguarding of its assets the prevention and detection of frauds anderrors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information 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 andprescribed under Section 143(10) of the Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of internal financialcontrols and both issued by the ICAI. Those standards and the Guidance Note require thatwe comply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operated effectively in all materialrespects.

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 processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures 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 31st March 2016based on the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls over Financial Reporting issued by the Institute ofChartered Accountants of India.

For Mohindra Arora & Co.
Chartered Accountants
(Firm Regn No : 006551N)
Ashok Kumar Katial
Place :: Mumbai (Partner)
Date :: 26/05/2016 M.No :: 09096