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Unishire Urban Infra Ltd.

BSE: 537582 Sector: Infrastructure
NSE: N.A. ISIN Code: INE210P01015
BSE LIVE 15:28 | 15 Dec 5.85 0.11
(1.92%)
OPEN

5.75

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5.85

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5.63

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.75
PREVIOUS CLOSE 5.74
VOLUME 210000
52-Week high 7.01
52-Week low 4.00
P/E
Mkt Cap.(Rs cr) 14
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.75
CLOSE 5.74
VOLUME 210000
52-Week high 7.01
52-Week low 4.00
P/E
Mkt Cap.(Rs cr) 14
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Unishire Urban Infra Ltd. (UNISHIREURBAN) - Auditors Report

Company auditors report

To The Members of Unishire Urban Infra Limited

Report on the Standalone Financial Statements

We have audited the accompanying standalone Financial Statements of M/s UnishireUrban Infra Limited ("the Company") which comprise of the Balance Sheet asat March 31 2017 the Statement of Profit and Loss and the Cash Flow Statement for theyear then ended and a summary of the significant accounting policies and otherexplanatory information.

Management's Responsibility for the Standalone 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 standalone Financial Statements that give a true and fair view of the financialposition financial performance and cash flows of the Company accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under section 133 of the Act read with Rule7 of the Companies (Accounts) Rule2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgment and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone Financial Statements that give a true and fair view and are free frommaterial misstatement whether due to fraud error.

Auditor's responsibility

Our responsibility is to express an opinion on these standalone Financial Statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provision of the Act the Rules made there under.

We conducted our audit in accordance with the Standard 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 standalone 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 thestandalone Financial Statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluatingthe appropriateness of the accounting policies used and the reasonableness of theaccounting estimates made by the Company's Directors as well as evaluating the overallpresentation 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 standalone Financial Statements given the information requiredby the Act in the manner so required and given a true and fair view conformity withaccounting principles generally accepted in India;

a) In the case of Balance Sheet of the State of Affairs of the Company as at March312017

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 Cash Flow Statement of the Cash Flow for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of subsection (11) of section 143 ofthe Act we give in the ‘Annexure A' a statement on the matters specified inparagraph 4 and 5 of the Order to the extent applicable.

As required by Section 143(3) of the Act we report that:

a) We have sought and obtained all the information and explanation which to the best ofour knowledge and belief were necessary for the purposes of our audit.

b) In our opinion proper books of accounts 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 standalone Financial Statement comply with theAccounting Standards specified under Section 133 of the Act read with rule 7 of theCompanies (Accounts) Rules 2014.

e) On the basis of the written representations received from the directors as on March31 2016 from being appointed as a director in terms of Section 164(2) of the Act

f) With respect to the adequacy of the internal financial controls refer to ourseparate Report ‘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 are no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the company.

For Arun Jain & Associates
Chartered Accountants
FRN: 325867E
Arun Kumar Jain
Place: Kolkata Proprietor
Dated: 30th May 2017 Membership No. 053693

ANNEXURE A' TO THE INDEPENDENT AUDITOR'S REPORT Report on Companies (Auditor's Report)order 2016 (‘the Order') issued by the Central Government in terms of Section143(11) of the Companies Act 2013 (‘the Act') of Unishire Urban Infra Limited.(‘The Company')

1. In respect of the Company's fixed assets:

a. The company has maintained proper records showing full particulars of fixed assetsincluding quantitative details and situation of fixed Assets.

b. These fixed Assets have been verified by the Management at reasonable intervals.According to information and explanations given to us no material discrepancies have beennoticed on such verification.

c. The title deeds of immovable properties belonging to the company are held in thename of the company.

2. Physical verification of inventory has been conducted by the management during theyear under review at reasonable intervals. According to information and explanation givento us no material discrepancies have been noticed.

3. The Company has not granted any loans secured or unsecured to companies firmLimited Liability Partnership or other parties covered in the registered maintained undersection 189 of the Companies Act 2013.Accordingly the provisions of clause 3(iii)(a) and(c) are not applicable to the Company

4. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Section 185 and 186 of the Act in respect ofgrant of loans making investments and providing guarantees and securities as applicable.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits hence the directives issued by the Reserve Bank ofIndia and the provisions of section 73 to 76 or any other relevant provisions of theCompanies act and the rules framed there under are not applicable to it. According to theinformation and explanations given to us no order has been passed against the company byCompany Law Board or National Company Law Tribunal or Reserve Bank of India or any othertribunal.

6. In respect of the records maintained by the company in accordance with the Rule madeby the Central Government regarding maintenance of Cost Records under the provisions ofsubsection (1) of section 148 of the Companies Act 2013 we have broadly reviewed thesame and we are the opinion that the prescribed accounts and records have been kept andmaintained. However we have not carried out a detailed audit of the same.

7. According to the information and explanations given to us and on the basis ofexamination of the records of the Company in respect of statutory dues:

a. the company is generally regular in depositing undisputed statutory dues includingProvident Fund Employees' State Insurance Income Tax sales Tax Service Tax Customsand excise Duty or Value Added Tax Cess and other statutory dues applicable to it withthe appropriate authorities and further there are no undisputed statutory dues payablefor a period of more than six months from the date they become payable as at 31stMarch 2017.

b. The company did not incur any dues on account of any dispute in respect of SalesTax Customs and Excise Duty or Value Added Tax during the year under review.

8. The company has not defaulted in repayment of loans/borrowings from FinancialInstitutions Banks. The company does not have any borrowings from Government or DebentureHolders.

9. The company has not raised any monies by way of any Public Offer or Terms Loansduring the year under review.

10. To the best of our information and according to explanations given to us no fraudby the company by its officers or employees has been noticed or reported during the yearunder review.

11. The overall remuneration paid to the Managing Director and Whole Time Directors andthe remuneration paid to each of them taken individually is not in excess of the limitsspecified under section 197 of the Companies Act 2013.

12. The company is not a Nidhi Company and reporting under clause 3(xii) of the Orderis not applicable.

13. The transactions with related parties are in compliance with the provisions ofsection 177 and 188 of the Companies Act 2013 and the details have been disclosed in thefinancial statements as required by the applicable Accounting Standards.

14. The company has not made any preferential allotment or private placement of sharesor debentures during the year under review.

15. The company has not entered into any non-cash transactions with its Directors orpersons connected with them and hence provisions of Section 192 of the Act are notapplicable. Accordingly paragraph 3(xv) of the Order is not applicable.

16. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For Arun Jain & Associates
Chartered Accountants
FRN: 325867E
Arun Kumar Jain
Place: Kolkata Proprietor
Dated: 30th May 2017 Membership No. 053693

ANNEXURE B' TO THE INDEPENDENT AUDITOR'S REPORT Report on the Internal FinancialControls over Financial Reporting 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 UnishireUrban Infra Limited ("the Company) as of March 312017 in conjunction with ouraudit of the standalone Financial Statements of the Company for the year ended on thatdate.

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.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on ou r audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting(the "Guidance Note") and the Standards on auditing issued byInstitute of Chartered Accountants of India and deemed to be prescribed under section143(10) of the Companies Act2013 to the extent applicable to an audit of internalfinancial controls both applicable to an audit of Internal Financial Controls and bothissued by the Institute of Chartered Accountants of India. Those Standards and theGuidance Note require that we comply with ethical requirement and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material 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 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 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 tothe financial statements whether due to fraud or error. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion on the Company's internal financial controls system over 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 standalone financial statements for external purpose in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that;

1) pertain to the maintenance of record 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 that receipts and expenditures of the company are being madeonly in accordance with authorizations of management and directors of the company and

3) Provide reasonable assurance regarding prevention or timely detection ofunauthorized 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 Alsoprojections of any evaluation of the internal financial controls over financial reportingto future periods are subject to the risk that the internal financial control overfinancial reporting may become inadequate because of changes in conditions or that thedegree of compliance with the policies or procedures may deteriorate. Opinion the Companyhas in all material respect an adequate internal financial controls system overfinancial reporting and such internal financial controls over financial reporting issuedby the Institute of Chartered Accountants of India.

Opinion

In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects and adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2017 based on the internal controlover financial reporting criteria established by the company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

For Arun Jain & Associates
Chartered Accountants
FRN: 325867E
Arun Kumar Jain
Place: Kolkata Proprietor
Dated: 30th May 2017 Membership No. 053693