You are here » Home » Companies » Company Overview » Standard Capital Markets Ltd

Standard Capital Markets Ltd.

BSE: 511700 Sector: Financials
NSE: N.A. ISIN Code: INE625D01010
BSE LIVE 09:15 | 30 Nov 1.76 0.08
(4.76%)
OPEN

1.76

HIGH

1.76

LOW

1.76

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.76
PREVIOUS CLOSE 1.68
VOLUME 500
52-Week high 3.09
52-Week low 1.60
P/E 10.35
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.76
CLOSE 1.68
VOLUME 500
52-Week high 3.09
52-Week low 1.60
P/E 10.35
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Standard Capital Markets Ltd. (STDCAPITALMKT) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF STANDARD CAPITAL MARKETS LIMITED

Report on Financial Statements

We have audited the accompanying financial statements of Standard Capital MarketsLimited ("the Company") which comprise the Balance Sheet as at March 31 2016the Statement of Profit and Loss and the Cash Flow Statement for the year then ended anda 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 in section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial controls thatwere operating 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 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 theamounts and 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 true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company’s Directors as well as evaluating the overallpresentation of the financial statements. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our audit opinion on thefinancial 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;

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2016;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

c) in the case of 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 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection143 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 purpose of our audit;

b) in our opinion proper books of account as required by law have been kept by theCompany so far as 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 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 effectiveness of such control refer to our separatereport in Annexure Rs. B’ and

g) With respect to the other matters to be included in the Auditor’s Report inaccordance with the Rule 11 of the Companies (Audit and Auditors) Rules 2014 in ouropinion and to the best of our information and according to the explanations given to us :

i. The Company does not have any pending litigation which would have any impact on itsfinancial position.

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

iii. There has not been any occasion during the year in case of the Company underreport to transfer any sums to the Investor Education and Protection Fund.

Place : New Delhi For TIWARI & ASSOCIATES
Dated: 30.05.2016 Chartered Accountants
(FRN-002870N)
Sd/-
(KRISHAN KUMAR)
Partner
(M. No. 085415)

Annexure Rs. A’ to the Auditors’ Report

Enclosure to Auditors’ Report pursuant to the Companies (Auditor’s Report)Order’2016 under section 143(11) of Companies Act 2013.

i. a) The Company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

b) We are informed that the Fixed Assets of the company have been physically verifiedby the management during the year and no material discrepancies were identified on suchverification.

c) The Company doesn’t have any immovable property in its name.

ii. As per information given to us the management has conducted physical verificationof inventory at reasonable intervals during the year and no material discrepancies werenoticed on physical verification.

iii. The company has granted loans to parties covered in the register maintained undersection 189 of the Companies Act.

a) The terms and conditions of grant of such loans are not prejudicial to the interestof the Company;

b) In our opinion and according to the information and explanations given to us thereceipt of principal amount and interest wherever applicable are also regular;

c) As informed to us the company has taken reasonable steps for recovery of principaland interest in case of amount overdue for more than ninety days.

iv. In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of section 186 and 186 of the Companies Act withrespect to the loans and investments made. The company has not given any guarantee(s) andhas not provided any security for loan taken by third party.

v. The company has not accepted any deposits from public. Accordingly the Directivesissued by the Reserve Bank of India and the provisions of sections 73 to 76 or any otherrelevant provisions of the Companies Act 2013 and the rules framed thereunder are notapplicable to the company for the year under Audit.

vi. As explained to us the Central Govt. has not prescribed for the maintenance ofcost records under sub-section (1) of

section 148 of the Companies Act. According this clause is not applicable.

vii. a) According to the information and explanations given to us and as per recordsexamined by us the company is generally regular in depositing undisputed statutory duesincluding Provident Fund Employee’s State Insurance Income Tax Sales Tax WealthTax Service Tax Duty of Customs Value Added Tax Cess and any other statutory duesapplicable to it with the appropriate authorities. There are no arrears of undisputedstatutory dues outstanding for a period of more than six months form the date on whichthey become payable.

b) According to the information and explanations given to us and as per ourverification of the records of the company there are no dues of Income Tax Sales TaxWealth Tax Service Tax Duty of Customs Duty of Excise Value Added Tax or Cess whichhave not deposited on account of any dispute.

viii. The company does not have any loans or borrowings from any financial institutionbanks government or debenture holders during the year. Therefore clause (viii) of thepara 3 of the order is not applicable to the Company.

ix. The company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Thereforeclause (ix) of the para 3 of the order is not applicable to the Company.

x. Based upon the audit procedures performed and as per information and explanationsgiven by the management we report that no fraud by the company or any fraud on theCompany by its officers or employees has been noticed or reported during the course of ouraudit.

xi. Accordingly to the information and explanations given to us and based on ourexamination of the records of the company the company has paid/provided for themanagerial remuneration in accordance with the requisite approvals mandated by theprovisions of section 197 read with Schedule V of the Act.

xii. In our opinion and according to the information and explanations given to us theCompany is not a Nidhi company. Therefore clause (xii) of the para 3 of the order is notapplicable to the Company.

xiii. According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with section 177 and 188 of the Act wherever applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

xiv. According to the information and explanations given to us and based on ourexamination of the records of the company the company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

xv. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with them. Accordingly paragraph 3(xv)of the Order is not applicable.

xvi. The Company is a Non Banking Finance Company and is registered under section 45-IAof the Reserve Bank of India Act 1934.

Place : New Delhi For TIWARI & ASSOCIATES
Dated: 30.05.2016 Chartered Accountants
(FRN-002870N)
Sd/-
(KRISHAN KUMAR)
Partner
(M.No. 085415)

Annexure- Rs. B’ to the Auditors' Report

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 STANDARDCAPITAL MARKETS LIMITED ("the Company") as of 31ST March 2016 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat 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'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including 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 if such controls operated effectively in all material respects. Our auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit of internal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. We believe thatthe audit evidences we have obtained are sufficient and appropriate to provide a basis forour audit opinion on the Company's internal financial controls system over financialreporting.

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 I) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; II) 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 III) 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 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.

Place : New Delhi For TIWARI & ASSOCIATES
Dated: 30.05.2016 Chartered Accountants
(FRN-002870N)
Sd/-
(KRISHAN KUMAR)
Partner
(M.No. 085415)