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Symbiox Investment & Trading Co Ltd.

BSE: 539278 Sector: Financials
NSE: N.A. ISIN Code: INE653R01012
BSE LIVE 19:10 | 19 Oct 3.01 -0.06
(-1.95%)
OPEN

3.07

HIGH

3.07

LOW

3.01

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.07
PREVIOUS CLOSE 3.07
VOLUME 341
52-Week high 26.00
52-Week low 3.01
P/E 100.33
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.01
Sell Qty 7307.00
OPEN 3.07
CLOSE 3.07
VOLUME 341
52-Week high 26.00
52-Week low 3.01
P/E 100.33
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.01
Sell Qty 7307.00

Symbiox Investment & Trading Co Ltd. (SYMBIOXINV) - Auditors Report

Company auditors report

To the Members of

M/s Symbiox Investment & Trading Co. Ltd.

1. Report on the Financial Statements

I have audited the accompanying financial statements of Symbiox Investment &Trading Co. Ltd. ("the Company") which comprises the Balance Sheet as atMarch 31 2016 the Statement of Profit and Loss for the year ended March 31 2016 and asummary of significant accounting policies and other explanatory information.

2. Management's Responsibility for the Financial Statements

Management is responsible for the matters stated in Section 134(5) of the CompaniesAct 2013 (‘the Act') with respect to the preparation of these financial statementsthat give a true and fair view of the financial position financial performance of theCompany in accordance with the Accounting principles generally accepted in Indiaincluding the Accounting Standards specified under section 133 of the Act read with Rule7 of the Companies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgements and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

3. Auditor's Responsibility

My responsibility is to express an opinion on these financial statements based on myaudit.

I have taken in to 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.

I conducted my audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that I 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 anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders 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 the Company's directors as well as evaluating the overall presentationof the financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion on the financial statements

4. Opinion

In my opinion and to the best of my information and according to the explanations givento me the aforesaid financial statements give the information required by the Act in themanner 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/ loss

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 endedMarch 31 2016.

5. Report on Other Legal and Regulatory Requirements

5.1 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 Act I give in the Annexure A statement on the matters specified in paragraphs 3 and 4of the Order to the extent applicable.

5.2 As required by section 143(3) of the Act I report that:

a) I have sought and obtained all the information and explanations which to the best ofmy knowledge and belief were necessary for the purpose of my audit;

b) In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from my examination of those books;

c) The Balance Sheet and Statement of Profit and Loss dealt with by this Report are inagreement with the books of account;

d) In my opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under the Section 133 of the Act read with rule 7 of theCompanies (Accounts) Rules 2014.

e) On the basis of written representations received from the directors as on March 312016 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of section 164 (2) ofthe Companies Act 2013;

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" and

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 my information and according to the explanations given to me:

(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 contractsfor which 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.

CA Pravin Poddar
Chartered Accountant
Membership No. : 300906
Date: 30.05.2016
Place: Kolkata

"Annexure A" to the Independent Auditor's Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory Requirement' of report of even date to the standalone financial statements ofthe company for the year ended March 31 2016; I report that:

3.1 Clause (i):

(a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) These fixed assets have been physically verified by the management at reasonableintervals; whether any material discrepancies were noticed on such verification and if sowhether the same have been properly dealt with in the books of account;

(c) The title deeds of immovable properties are held in the name of the company.

3.2 Clause (ii):

The physical verification of inventory has been conducted at reasonable intervals bythe management and no material discrepancies were noticed and they have been properlydealt with in the books of account.

3.3 Clause (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.

3.4 Clause (iv):

In respect of loans investments guarantees and security the provisions of section185 and 186 of the Companies Act 2013 have been complied with.

3.5 Clause (v):

According to the information and explanation given to me the company has not accepteddeposits from the public during the financial year under audit.

3.6 Clause (vi):

In my opinion and according to information and explanation given to me the companydoes not manufacturing any goods and as such the provision related to maintenance of costrecords by the company under sub section (1) of section 148 of Companies Act 2013 for anyof its products as prescribed by Central Government are not applicable.

3.7 Clause (vii):

(a) The company is regular in depositing undisputed statutory dues including providentfund employees' state insurance income-tax sales-tax duty of customs duty of excisevalue added tax cess and any other statutory dues to the appropriate authorities inIndia.

(b) According to the information and explanations given to me there are no dues ofincome tax or sales tax or service tax or duty of customs or duty of excise or value addedtax which have not been deposited on account of any dispute

3.8 Clause (viii):

According to the records of the company examined by me and as per the information andexplanation given to me the company has not availed of any loans from any financialinstitution or banks and has not issued debentures.

3.9 Clause (ix):

In my opinion and according to information and explanations given to me the companyhas not raised money by way of initial public offer or further public offer (includingdebt instruments) and term loans.

3.10 Clause (x):

No fraud by the company or any fraud on the Company by its officers or employees hasbeen noticed or reported during the year

3.11 Clause (xi):

Managerial remuneration has been paid or provided during the year in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act.

3.12 Clause (xii):

In my opinion and according to information and explanations given to me clause (xii)of para 3 to Companies (Auditor's Report) Order2016 w.r.t. Nidhi Company is notapplicable to company.

3.13 Clause (xiii):

In my opinion all transactions with the related parties are in compliance with sections177 and 188 of Companies Act 2013 where applicable and the details have been disclosed inthe Financial Statements etc. as required by the applicable accounting standards.

3.14 Clause (xiv):

The company has not made any preferential allotment or private placement of shares orfully or partly convertible debentures during the year under review.

3.15 Clause (xv)

The company has not entered into any non-cash transactions with directors or personsconnected with him

3.16 Clause (xvi):

The company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act 1934. Accordingly the paragraph 3(xvi) of the order is not applicable to thecompany and hence not commented upon.

CA Pravin Poddar
Chartered Accountant
Membership No. : 300906
Date: 30.05.2016 Place: Kolkata

"Annexure B" to the Independent Auditor's 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 SymbioxInvestment & Trading Co. Ltd. ("the Company") as of March 31 2016 inconjunction with my audit of the standalone financial statements of the Company for theyear 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). 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

My responsibility is to express an opinion on the Company's internal financial controlsover financial reporting based on my audit. I conducted my audit in accordance with theGuidance 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 toan audit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that I comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

My audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. My 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.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my 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 authorisations ofmanagement and directors of the company; and (3)

provide reasonable assurance regarding prevention or timely detection of unauthorisedacquisition use or disposition of the company's assets that could have a material effecton 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 my 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 March 31 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 (ICAI).

CA Pravin Poddar
Chartered Accountant
Membership No. : 300906
Date: 30.05.2016
Place: Kolkata