You are here » Home » Companies » Company Overview » Unijolly Investments Company Ltd

Unijolly Investments Company Ltd.

BSE: 503671 Sector: Financials
NSE: N.A. ISIN Code: INE130N01010
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Unijolly Investments Company Ltd. (UNIJOLLYINVEST) - Auditors Report

Company auditors report

To the Members of UNIJOLLY INVESTMENTS COMPANY LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of UNIJOLLY INVESTMENTSCOMPANY LIMITED ("the Company") which comprise the

Balance Sheet as at March 31 2017 the Statement of Profit and Loss the Cash FlowStatement for the year then ended and a summary of significant accounting policies andother 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 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 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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

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

Basis for qualified opinion

The Company has not obtained Certificate of Registration from Reserve Bank of India orits consent in accordance with the provisions of Section 45 IA of the Reserve Bank ofIndia Act 1934 for carrying on the business of dealing in investment in shares and othersecurities.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us except for the effect of the matter described in the Basis for QualifiedOpinion Paragraph the 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 2017;

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

c) 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 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act (hereinafterreferred to the "Order") and on the basis of such checks of the books andrecords of the Company as we considered appropriate and according to the information andexplanations given to us we give in the Annexure 1 a statement on the matters specifiedin paragraphs 3 and 4 of the Order.

2. As required by Section 143 (3) (i) of the Companies Act 2013 we have given inAnnexure 2 the report on Internal Financial Controls over Financial Reporting.

3. As required by the Non-Banking Financial Companies Auditor's Report (Reserve Bank)Directions 2008 issued by the Reserve Bank of India we give in the Annexure 3 astatement on the matters specified in paragraphs 3 and 4 of the said Directions.

4. 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 Balance Sheet Statement of Profit and Loss and the Cash Flow

Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion the aforesaid financial statements comply with the

Accounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e. In our opinion the matter described in the Basis for Qualified Opinion paragraphabove may have an adverse effect on the functioning of the Company in accordance with theprovisions of RBI Act 1934 and the Rules made thereunder.

f. On the basis of written representations received from the Directors as on

March 31 2017 and taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2017 from being appointed as a director in terms of Section164(2) of the Act.

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) 2014 in our opinion and tothe 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. In our opinion and as per the information and explanations provides to usthe Company has not entered into any long-term contracts including derivative contractsrequiring provision under applicable laws or accounting standards for materialforeseeable losses and

iii. The Company has no amounts required to be transferred to the Investor Educationand Protection Fund during the year under audit.

iv. The Company has provided requisite disclosures in the financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8thNovember 2016 to 30th December 2016. Based on audit procedures and relying onthe management representation we report that the disclosures are in accordance with booksof account maintained by the Company and as produced to us by the Management.

For C K S ASSOCIATES

Chartered Accountants

(F.R.No. 007390S)

N.V.S.SRIKRISHNA

Partner

M.No.025139

HYDERABAD

May 30 2017

ANNEXURE 1 TO THE INDEPENDENT AUDITORS' REPORT:

(Referred to in Paragraph 1 under section ‘Report on Other Legal and RegulatoryRequirements' of our report of even date)

1.1. The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

1.2. All the fixed assets have been physically verified by the management at reasonableintervals and no material discrepancies were noticed on such verification.

1.3. As the Company does not have any immovable properties paragraph 3(iii) of theOrder is not applicable.

2. The Company is an investment company primarily dealing in shares/securities.Accordingly it does not hold any physical inventories. Thus paragraph 3(ii) of the Orderis not applicable.

3. As informed to us the company has not granted any loans secured or unsecured tocompanies firms limited liability partnerships or other parties covered in the registermaintained under section 189 of the Companies Act 2013. Accordingly the sub-clauses (a)(b) and (c) are not applicable to the company.

4 In our opinion and according to the information and explanations given to us thereare no loans investments guarantees and security attracted by provisions of Section 185and 186 of the Companies Act 2013.

5 According to the information and explanations given to us the Company has notaccepted any deposits in terms of the directives issued by Reserve Bank of India and theprovisions of Sections 73 to 76 or any other relevant provisions of the Companies Act2013 and the rules framed there under.

6 As per the information and explanations given to us maintenance of Cost Records hasnot been specified by the Central Government under section 148 of the Companies Act2013.

7.1 According to the information and explanations given to us the Company is generallyregular in depositing undisputed statutory dues during the year wherever applicableincluding income tax sales tax service tax duty of customs duty of excise value addedtax cess and any other statutory dues with the appropriate authorities. According to theinformation and explanations given to us no undisputed amount is payable in respect ofincome tax or sales tax or wealth tax or service tax or duty of customs or duty of exciseor value added tax or cess and other Statutory dues which have remained outstanding as atMarch

31 2017 for a period of more than six months from the date they became payable.

7.2 According to the information and explanations given to us 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.

8. According to the information and explanations given to us there are no loans orborrowing from financial institutions bank government or dues to debenture holders.Thus paragraph 3(viii) of the Order is not applicable.

9. During the year under review the Company has not raised any money by way of initialpublic offer further public offer or term loans and hence the reporting requirement onthe purpose of application of the same is not warranted.

10. According to the information and explanations given to us and based upon the auditprocedures performed by us no fraud by the Company or on the Company committed by itsofficers or employees has been noticed or reported during the year.

11. According to the information and explanations given to us and based upon the auditprocedures performed by us the Company neither paid nor provided for any remunerationduring the year. Thus paragraph 3(xi) of the Order is not applicable.

12. As the Company is not a Nidhi Company in terms of the provisions of the

Companies Act 2013 read with Nidhi Rules 2014 the matters to be reported underclause (xii) are not applicable.

13. The Company has complied with the provisions of Section 177 and 188 of the

Companies Act. 2013 wherever applicable. In our opinion the details as required bythe applicable accounting standards have been disclosed in the financial statements forthe year under review.

14. According to the 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. Hence reporting requirement on compliance withSection 42 of the Companies Act 2013 and purpose of application of the funds so raised isnot applicable.

15. According to the information and explanations given to us the Company has notentered into any non-cash transactions with directors or persons connected with him andhence reporting requirement on compliance with the provisions of Section 192 of theCompanies Act 2013 is not applicable.

16. According to the information and explanations given to us the Company has notobtained Certificate of Registration from Reserve Bank of India or its consent inaccordance with the provisions of Section 45 IA of the Reserve Bank of India Act 1934for carrying on the business of dealing in investment in shares and other securities.

For C K S ASSOCIATES

Chartered Accountants

(F.R.No. 007390S)

N.V.S.SRIKRISHNA

Partner

M.No.025139

HYDERABAD

May 30 2017

ANNEXURE 2 TO THE INDEPENDENT AUDITOR'S REPORT:

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of

Section 143 of the Companies Act 2013 ("the Act"):

We have audited the internal financial controls over financial reporting of UNIJOLLYINVESTMENTS COMPANY LIMITED ("the Company") as of March 31 2017 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 Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 accordance with the Guidance Note on Audit of InternalFinancial Controls over Financial Reporting (the "Guidance Note") and theStandards on

Auditing issued by ICAI and deemed to be prescribed under section 143(10) of theCompanies Act 2013 to the extent applicable to an audit of internal financial controlsboth applicable to an audit of Internal Financial Controls and both issued by theInstitute of Chartered Accountants of India. Those Standards and the Guidance Note requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting was established and maintained and if such controls operated effectively in allmaterial 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 reporting andoperating 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 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 financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made 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 have amaterial 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 March 31 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.

For C K S ASSOCIATES

Chartered Accountants

(F.R.No. 007390S)

N.V.S.SRIKRISHNA

Partner

M.No.025139

HYDERABAD

May 30 2017

ANNEXURE- 3 TO THE INDEPENDENT AUDITORS' REPORT:

(Referred to in Paragraph 3 under section ‘Report on Other Legal and RegulatoryRequirements' of our report of even date)

1. According to the information and explanations given to us the Company beingengaged in the business of investment in shares and other securities is an InvestmentCompany and has not obtained a Certificate of Registration from the Reserve Bank of Indiaas required under Section 45-IA of the Reserve Bank of India Act 1934.

2. According to the information and explanations given to us the Company is not anAsset Finance Company in accordance with Non-Banking Financial Companies Acceptance ofPublic Deposits (Reserve Bank) Directions 1998 with reference to the business carried onby it during the financial year under review.

3. According to the information and explanations given to us the Company is not aNBFC-MCI as defined the Non-Banking Financial Company Micro Finance Institutions ((ReserveBank) Directions 2011 with reference to the business carried on it during the financialyear under review

4. According to the information and explanations given to us the Company does not holdpublic deposits nor has it accepted the same during the year under review. Hence thematters to be reported under sub-paragraph B are not applicable.

5. According to the information and explanations given to us the Board of Directorshave passed a resolution for non-acceptance of public deposits.

6. According to the information and explanations furnished to us the Company has notaccepted any deposits from the public during the year under report.

7. According to the information and explanations given to us the Company has notadvanced any loans and hence the compliance with the prudential norms relating to incomerecognition accounting standards asset classification and provisioning for bad anddoubtful debts as applicable in terms of Systemically Important Non-Banking Financial(Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions2015 and Non-Systemically Non-Banking Financial (Non-Deposit Accepting or Holding)Companies Prudential Norms (Reserve Bank) Directions 2015 in accordance with Non-BankingFinancial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank)Directions 2015 does not arise.

8. According to the information and explanations provided to us the company is not aSystemically Important Non-Deposit taking NBFC as defined in paragraph 2(1)(xix) of theNon-Banking (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank)Directions 2015.

9. According to the information and explanations given to us the Company has notobtained a specific advice from the Reserve Bank of India that it is not required to holdCertificate of Registration which would be subject to the conditions stipulated by RBI.Hence comment on compliance with such conditions does not arise.

For C K S ASSOCIATES

Chartered Accountants

(F.R.No. 007390S)

N.V.S.SRIKRISHNA

Partner

M.No.025139

HYDERABAD

May 30 2017