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Vistar Amar Ltd.

BSE: 538565 Sector: Others
NSE: N.A. ISIN Code: INE878P01019
BSE LIVE 11:49 | 07 Nov Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 11.62
PREVIOUS CLOSE 12.23
VOLUME 300
52-Week high 15.65
52-Week low 7.26
P/E 55.33
Mkt Cap.(Rs cr) 4
Buy Price 11.62
Buy Qty 200.00
Sell Price 0.00
Sell Qty 0.00
OPEN 11.62
CLOSE 12.23
VOLUME 300
52-Week high 15.65
52-Week low 7.26
P/E 55.33
Mkt Cap.(Rs cr) 4
Buy Price 11.62
Buy Qty 200.00
Sell Price 0.00
Sell Qty 0.00

Vistar Amar Ltd. (VISTARAMAR) - Auditors Report

Company auditors report

To the Members of

Vistar Amar Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Vistar Amar Limited ("theCompany") which comprise the Balance Sheet as at 31 March 2017 and the Statement ofProfit and Loss for the year then ended Cash Flow Statement for the Year then ended and asummary of the 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 stated in Section134(5) of the Companies

Act 2013 ("the Act") with respect to the preparation and presentation ofthese financial statements that give a true and fair view of the financial position andfinancial performance 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.

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 judgments 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.

Auditors' 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 there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act and other applicable authoritative pronouncements issued by theInstitute of Chartered Accountants of India. Those Standards and pronouncements requirethat 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 the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditors' judgement 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. 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.

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 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 of the state of affairs of the Company as at 31March 2017 and its profit for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. The matters specified in paragraphs 3 and 4 of the Companies (Auditors' Report)Order 2016 (‘the Order') issued by the Central Government of India in terms ofsub-section (11) of Section 143 of the Act we give in annexure A a statement on thematters specified in paragraph 3 and 4 of the Order to the extent applicable.

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 purposes 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 & the Statement of Profit and Loss and the Cash FlowStatement dealt with 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 the written representations received from the directors as on 31March 2017 taken on record by the Board of Directors none of the directors aredisqualified as on 31 March 2017 from being appointed as a director in terms of Section164(2) of the Act;

(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 A".

Report on Other Legal and Regulatory Requirements

(g) With respect to the other matters to be included in the Auditors' 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. theCompany has no pending litigations as at 31 March 2017.

ii. the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. there were no amounts which are required to be transferred to the InvestorEducation and Protection Fund of the Company.

iv. The Company has represented that there were Nil holding of Specified Bank Notes asat8 th November 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with the books of accountsmaintained by the Company.

For S.P. Gupta & Associates
Chartered Accountants
Firm's Registration No: 103445W
Shashikant Gupta
Mumbai Partner
Date:29/05/2017
Membership No: 031899

Annexure A to the Independent Auditors' Report of even date on the Financial statementsof Vistar Amar Limited – 31 March 2017

With reference to the Annexure A referred to in the Independent Auditors' Report to themembers of the Company on the financial statements for the year ended 31 March 2017 wereport the following: i. There are no Fixed Assets in the company accordingly paragraph3(i) of the Order is not applicable to the

Company ii. The inventory has been physically verified by the management during theyear. In our opinion the frequency of such verification is reasonable. The discrepanciesnoticed on verification between the physical stocks and the book records were notmaterial.

iii. According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to companies firms limited liabilitypartnerships or other parties covered in the register maintained under Section 189 of theCompanies Act 2013 (‘the Act'). Accordingly paragraphs 3 (iii) (a) (b) and (c) ofthe Order are not applicable to the Company.

iv. In our opinion and according to the information and explanations given to us theCompany has not granted any loan given any guarantee or provided any security for loanstaken by others or made any investments covered under Section 185 and 186 of the Act asapplicable. Accordingly paragraph 3 (iv) of the Order is not applicable to the Company.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits in terms of the directives issued by the Reserve Bank ofIndia or under the provisions of Sections 73 to 76 or any other relevant provisions of theAct and the rules framed there under. Accordingly paragraph 3(v) of the Order is notapplicable to the Company.

vi. The Central Government has not prescribed the maintenance of cost records underSection 148(1) of the Act for any of the products manufactured/ services rendered by theCompany. Accordingly paragraph 3(vi) of the Order is not applicable to the Company.

vii. (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted/accrued in the books ofaccount in respect of undisputed statutory dues including Income Tax Service TaxSales-tax Duty of customs Duty of excise Value added tax and other material statutorydues have generally been regularly deposited during the year by the Company with theappropriate authorities. As explained to us the Company did not have any dues on accountof Cess.

According to the information and explanations given to us no undisputed amountspayable in respect of Income-tax Sales-tax Service tax Duty of customs Duty of exciseValue added tax Cess and other material statutory dues were in arrears as at 31 March2017 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us there are no dues ofIncome-tax Sales-tax Service tax Duty of customs Duty of excise and Value added taxwhich have not been deposited with the appropriate authorities on account of any disputeas at 31 March 2017.

viii. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of any loans or borrowings from banks financialinstitutions government or dues to debenture holders during the year. Accordinglyparagraph 3(viii) of the Order is not applicable to the Company.

ix. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not raised any moneys by way ofinitial public offer or further public offer (including debt instruments) and has notobtained any term loans during the year. Accordingly paragraph

3(ix) of the Order is not applicable to the Company x. According to the information andexplanations given to us no fraud by the Company or on the Company by its officers oremployees has been noticed or reported during the course of our audit.

xi. According to the information and explanations given to us and based on ourexamination of the records of the Company the managerial remuneration is not applicablein accordance with the requisite approvals mandated by the provisions of Section 197 readwith 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. Accordingly paragraph 3(xii) 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 Sections 177 and 188 of the

Act where applicable and details of such transactions have been disclosed in thefinancial statements as required by the applicable accounting 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. Accordingly paragraph 3 (xiv) of the Order is not applicable to the Company.

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 any non-cash transactions with directors orpersons connected with them. Accordingly paragraph 3(xv) of the Order is not applicableto the Company.

xvi. In our opinion and according to the information and explanation given to us theCompany is not required to be registered under Section 45-IA of the Reserve Bank of IndiaAct 1934.Accordingly paragraph 3(xvi) of the Order is not applicable to the Company.

For S.P. Gupta & Associates
Chartered Accountants
Firm's Registration No: 103445W
Shashikant Gupta
Mumbai Partner
Date:29/05/2017
Membership No: 031899

Annexure B to the Independent Auditors' Report of even date on the Financial statementsof Vistar Amar Limited – 31 March 2017

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 Vistar AmarLimited ("the Company") as of 31 March 2017 in conjunction with our audit of thefinancial statements of the Company for the year 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'). 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 safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Act.

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 Act to the extent applicable to an audit ofinternal financial controls both applicable to an audit of Internal Financial Controlsand both issued by the Institute of Chartered Accountants of India. Those Standards andthe Guidance Note require that we comply with ethical requirements and plan and performthe audit to obtain reasonable assurance about whether adequate internal financialcontrols over financial reporting was established and maintained and if such controlsoperated effectively 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 auditors' judgement 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 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 regardingprevention or timely detection of unauthorised 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 31 March 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 S.P. Gupta & Associates
Chartered Accountants
Firm's Registration No: 103445W
Shashikant Gupta
Mumbai Partner
Date:29/05/2017
Membership No: 031899