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Stellar Capital Services Ltd.

BSE: 536738 Sector: Financials
NSE: N.A. ISIN Code: INE325P01011
BSE LIVE 15:00 | 17 Nov 4.73 -0.52
(-9.90%)
OPEN

4.80

HIGH

4.80

LOW

4.73

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.80
PREVIOUS CLOSE 5.25
VOLUME 210000
52-Week high 12.19
52-Week low 4.35
P/E 157.67
Mkt Cap.(Rs cr) 12
Buy Price 0.00
Buy Qty 0.00
Sell Price 5.60
Sell Qty 6000.00
OPEN 4.80
CLOSE 5.25
VOLUME 210000
52-Week high 12.19
52-Week low 4.35
P/E 157.67
Mkt Cap.(Rs cr) 12
Buy Price 0.00
Buy Qty 0.00
Sell Price 5.60
Sell Qty 6000.00

Stellar Capital Services Ltd. (STELLARCAPITAL) - Auditors Report

Company auditors report

To

The Members of

M/s. Stellar Capital Services Limited

Report on the Financial Statements

We have audited the accompanying nancial statements of Stellar Capital ServicesLimited ("the company") which comprises the Balance Sheet as at 31st March2017 Statement of Pro t and Loss Cash Flow Statement for the year then ended and asummary of signi cant 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 thesenancial statements that give a true and fair view of the nancial position nancialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards speci ed under Section 133of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibilityalso includes the maintenance of adequate accounting records in accordance with theprovision of the Act for safeguarding of the assets of the Company and for preventing anddetecting the frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of internal nancial control that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the nancial statements that give a true and fairview and are free from material misstatement whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these nancial 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 accordance with the Standards on Auditing speci ed 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 nancial 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 the adequate internal financialcontrol 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 as well as evaluating the overall presentation of thefinancial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the nancial statements.

Opinion

In our opinion and to the best of our information and the explanations given to us thefinancial statementsgive the information required by the Act in the manner so required andgive a true and fair view in conformity with accounting principles generally accepted inIndia of the state of affairs of the company as at 31st March 2017 and its profit and itscash flows for the year ended on that date.

(i) In case of the Balance Sheet of the state of affairs of the company as at31st March 2017; (ii) In case of Statement of Profit and Loss of the profit forthe year ended on that date; and (iii) In case of Cash Flow Statement of the cashflows 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) of section 143 of theCompanies Act 2013 We give in the Annexure -A statement on the matters specifiedin paragraph 3 & 4 of the said order.

2. The Company is a Non- Banking Financial Company not accepting public deposit and theCertificate of Registration No. B-14.02359 dated 23rd March 2001 from Reserve Bank ofIndia has been issued to the Company: -

a) The Board of Directors of the company has passed a resolution for the non-acceptanceof any public deposits.

b) The company has not accepted any public deposits during the relevant year.

c) The company has complied with the prudential norms relating to income recognitionaccounting standards assets classification and provisioning for bad and doubtful debts asapplicable.

3. As required by section 143(3) of the Act we report that: - a) We have sought andobtained all the information and explanations which to the best of b) In our opinionproper books of account as required by law have been kept by the Company so far as appearsfrom our examination of those books.

c) The Balance Sheet the Statement of Pro t and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid nancial statements comply with the AccountingStandards speci ed 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 31 March2017 taken on record by the Board of Directors none of the directors is disquali ed ason 31 March 2017 from being appointed as a director in terms of Section 164(2) of theAct.

f) The observation of financial transactions does not reveal any matter which has anyadverse effect on the functioning of the Company.

g) With respect to adequacy of internal financial controls over financial reporting ofthe Company and the operating effectiveness of such controls refer to our separate Reportin

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

nancial 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.

For V.N. PUROHIT & CO.

Chartered Accountants

Firm Regn. No. 304040E

Gaurav Joshi

Partner

Membership No. 516027

Place: New Delhi

Date: 30th May 2017

ANNEXURE- A TO THE AUDITOR’S REPORT

The Annexure referred to in Paragraph 1 under the heading of "Report on otherLegal and Regulatory Requirements" of our report of even date to the members of StellarCapital Services Limited (the Company) for the year ended on 31st March 2017.

(i) (a) As per information and explanation given to us the Company is maintainingproper records showing full disclosures of the fixed assets;

(b) As per information and explanation given to us physical verification of fixedassets has been conducted once in a year by the management and no material discrepancieswere noticed during the course of verification;

(c) According to information and explanation given to us the company does not hold anyimmovable property during the period dealt with by this report;

(ii) As per information and explanation given to us physical verification of inventoryhas been conducted once in a year by the management and no material discrepancies werenoticed during the course of verification;

(iii) According to information and explanations given to us the Company has notgranted unsecured loans to parties covered in register maintained under section 189 of theCompanies Act 2013 and hence provisions of this sub- clause are not applicable;

(iv) According to information and explanations given to us the Company hascomplied with the provisions of Section 185 and section 186 to the extent applicable ofthe Companies Act 2013 in respect of loans investments guarantees and security given;

(v) According to information and explanations given to us the Company has not acceptedpublic deposits and the provision of section 73 to 76 or other relevant provisions of theCompanies Act 2013 and rules framed thereunder are not applicable to the Company;

(vi) According to information and explanations given to us the Company is not liableto maintain cost records as prescribed under section 148(1) of the Companies Act 2013;

(vii) (a) According to information and explanations given to us the company isgenerally regular in depositing undisputed statutory dues including income-tax and anyother applicable statutory dues to the appropriate authorities. However there is an TDSpayable amounting to Rs. 40933 as on the last day of the financial year concerned for aperiod of more than six months from the date they became payable;

(b) According to information and explanations given to us there are no outstandingstatutory dues on the part of Company which is not deposited on account of dispute;

(viii) According to information and explanations given to us the company has notobtained any loans from bank or financial institutions. Hence this clause is notapplicable;

(ix) According to information and explanations given to us the Company has not raisedmoney by way of initial public offer or further public offer. The Company has not takenany term loans from any bank or financial institution;

(x) According to information and explanations given to us there is no noticed orunreported fraud on or by the Company during the year under audit;

(xi) According to information and explanations given to us the Company has paidmanagerial remuneration in accordance with applicable provisions of the Companies Act2013;

(xii) As per information the Company is not a Nidhi Company hence provisions of sub-clause (xii) of the Paragraph 3 of the Order are not applicable;

(xiii) According to information and explanations given to us all transactions with therelated parties are in compliance with sections 177 and 188 of Companies Act 2013wherever applicable and the details have been disclosed in the standalone financialstatements etc. as required by the applicable accounting standards;

(xiv) According to information and explanations given to us the Company has not madeany preferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review;

(xv) According to information and explanations given to us the Company has not enteredinto non- cash transactions with directors or persons connected with him;

(xvi) According to information and explanations given to us the Company is a Non-Banking Financial Company duly registered under Section 45-1A of the Reserve Bank of IndiaAct 1934.

For V.N. PUROHIT & CO.

Chartered Accountants

Firm Regn. No. 304040E

Gaurav Joshi

Partner

M. No. : 516027

Place: New Delhi

Date: 30th day of May 2017

ANNEXURE- B TO THE AUDITOR’S REPORT

Report on the Internal Financial Controls under Clause (i) of Sub- section (3) ofSection 143 of the Companies Act 2013

We have audited the internal financial controls over financial reporting of STELLARCAPITAL SERVICES LIMITED ("the Company") as on 31st March 2017 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat date.

Management’s Responsibility for the 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 controlsstated in the Guidance Note on Audit of Internal Financial Control over FinancialReporting issued 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 safeguardingof its assets the prevention and detection of fraud and errors the accuracy andcompleteness of 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 deemed to beprescribed under Section 143(10) of the Companies Act 2013 to the extent applicable to anaudit 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 materialaspects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial control 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 risks ofmaterial misstatement of the standalone financial statements whether due to fraud orerror.

We believe that the audit evidences 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 standalone financial statements for external purposes in accordancewith generally accepted accounting principles. A Company’s internal financial controlover financial reporting includes those policies and procedures that: -

(1) Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the Company;

(2) Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of standalone financial statements in accordance with generally acceptedaccounting principles and the receipt and expenditures of the Company are being only inaccordance with authorisations of management and directors of the Company; and

(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the Company’s assets that could havea material effect on the standalone 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 could not bedetected. Also projections of any evaluation of the internal financial control overfinancial reporting to future periods are subject to the risk that the internal financialcontrols over financial reporting may became inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material aspects 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"the internal financial controls over financial reporting criteria considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial Controls over Financial Reporting issued by the Institute of Chartered

Accountants of India".

FOR V.N. PUROHIT & CO.

Chartered Accountants

Firm Regn. No. 304040E

Gaurav Joshi

Partner

Membership No. 516027

New Delhi the 30th day of May 2017