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VJTF Eduservices Ltd.

BSE: 509026 Sector: Others
NSE: N.A. ISIN Code: INE117F01013
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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 65.00
PREVIOUS CLOSE 63.00
VOLUME 500
52-Week high 74.10
52-Week low 32.00
P/E 232.14
Mkt Cap.(Rs cr) 114
Buy Price 0.00
Buy Qty 0.00
Sell Price 65.00
Sell Qty 100.00
OPEN 65.00
CLOSE 63.00
VOLUME 500
52-Week high 74.10
52-Week low 32.00
P/E 232.14
Mkt Cap.(Rs cr) 114
Buy Price 0.00
Buy Qty 0.00
Sell Price 65.00
Sell Qty 100.00

VJTF Eduservices Ltd. (VJTFEDUSERVICES) - Auditors Report

Company auditors report

TO The MEMBERS OF

M/s.VJTF EDUSERVICES LIMITED

REPORT ON The STANDALONEFINANCIAL STATEMENTS

We have audited The accompanying standalone Financial statements of M/sVJTFEDUSERVICES LIMITED (‘the Company') which comprise The Balance Sheet as at31stMarch 2016 theStatement of Profit and Lossandthe of Cash FlowStatementfor The yearThe n ended and notes to The Financial Statementsincludinga summary of significantaccounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITYFOR 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 andpresentation of The se standalonefinancial statements that give a true and fair view ofThe Financial position Financial performance and cash flows of The Company in accordancewith The accounting principles generally accepted in India including The AccountingStandards specified underSection 133 of The Act read with Rule 7 of The Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with The provisions of The Act for safeguarding Theassets of The Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal Financial controls that were operating effectively for ensuring Theaccuracy and completeness of The accounting records relevant to The preparation andpresentation of The Financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

AUDITORS' RESPONSIBILITY:

Our responsibility is to express an opinion on The se standalone Financial statementsbased on our audit.

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 The reunder.

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 pronouncementsrequirethat 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' 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. 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 standalonefinancial statements.

OPINION:

In our opinion and to The best of our information and according to The explanationsgiven to us The aforesaid standalone Financial statements give The information requiredby The Act in The manner so required and give a true and fair view in conformity with Theaccounting principles generally accepted in India of The state of affairs of The Companyas at31st March2016 and itsProfit and its cash flows for The year ended onthat date.

REPORT ON OTHER LEGAL and REGULATORYREQUIREMENTS:

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 on The basis of such checks of The books and records of The Company as weconsidered appropriate and according to The information and explanations given to uswegive in The Annexure A a statement on The matters specified in The paragraphs3 and 4 ofThe Order.

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 best ofour 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 Flow Statement dealtwith by this Report are in agreement with The books of account;

d.In our opinion The aforesaid standalone Financial statements 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 31stMarch 2016 andtaken on record by The Board of Directors none of The Directors isdisqualified as on 31st March 2016 from being appointed as aDirector in termsof Section 164 (2) of The Act; f. With respect to The adequacy of The internal Financialcontrols over Financial reporting of The Company and The operating effectiveness of suchcontrols refer to our separate report in ‘Annexure B'; and

g. With respect to The other matters to be included in The Auditors'Report inaccordance with Rule11 of The Companies (Audit and Auditors) Rules 2014 in our opinionand to The best of our information and according to The information and explanations givento us :

i. The Company has disclosed The impact of pending litigations on its Financialposition in its standalone Financial statements-Refer Clause 1 (a) of Note 22to TheFinancial statements.

ii. The Company does not have any Long-term contracts including derivative contractsfor which The re were any material foreseeable losses.

iii.No amounts were required to be transferred to The Investor Education andProtection Fundby The Company.

J. KALA & ASSOCIATES
CHARTERED ACCONTANTS
FIRM REGISTRATIONNO.: 118769W
Sd/-
PLACE: MUMBAI JAYESH KALA
DATE:30thMay 2016 PARTNER
MEMBERSHIP NO.:101686

M/s.VJTF EDUSERVICES LIMITED

ANNEXURE‘A'TO INDEPENDENT AUDITORS' REPORT

(Referred to in Paragraph (1) of our report of even date)

The Annexure referred to in Independent Auditors' Report to The members of The Companyonthe standalone Financial statements for The year ended31stMarch 2016 andonThe basis of such checks of The books and records of The Company as we consideredappropriate and according to The information and explanations given to us we reportthat:

(i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) As informed to us all fixed assets have been physically verified by The managementat reasonable intervals. No material discrepancies were noticed on such physicalverification.

(c) According to The information and explanations given to us and on The basis of ourexamination of The records of The Company The titledeeds of immovable property held asfixed assetare held in The name of The Company.

(ii) As The Company does not have any inventory The provisions of Clause 3 (ii) of TheOrder are not applicable to The Company.

(iii) As The Company has not granted any loans or advances in The nature of loans toparties covered in The register maintained under Section 189 of The Act The provisions ofClause 3 (iii) of The 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 loans or provided any guarantees or security in connectionwith any loan to any party covered under Section 185 of The Actexcept those mentionedinClause 5 of Note 22of accompanying Financial statements.In respect of loans granted andsecurity cum guarantee givenduring The year The provisions of Section 186 of TheActarebecomplied with.However The Company has not made any Investments during The year .

(v) The Company has not accepted any deposits from The public.

(vi) As informed to us The maintenance of cost records has not been prescribed by TheCentral Government under Section 148(1) of The Act in respect of The activities carried onby The Company. The refore The provisions of Clause 3(vi) of The Order are not applicableto The Company.

(vii) (a) According to The information and explanations given to us and on The basis ofour examinationof The records of The Company The Company is regular in depositing Theundisputed statutory dues including provident fund employees' state insuranceincome-tax sales tax service tax duty of customs duty ofexcise value added taxcessandany otherstatutory dues with The appropriate authorities.

According to The information and explanations given to us no undisputed amounts inrespect of The aforesaid statutory dues were outstanding as at The last day of TheFinancial year for a period of more than six months from The date The y became payable.

(b)According to The information and explanations given to us The re are no dues ofincome tax sales tax service tax duty of customs duty of excise and value added taxwhich have not been deposited by The Company on account of disputesexcept for following:

Name of The statute Nature of dues Amount in Rs. Period to which the amount relates Forum where The dispute is pending
TheIncome TaxAct 1961 Tax 275 280 2007-08 ITATMumbai
The Income Penalty 179 292 2007-08 ITATMumbai
Tax Act 1961 The Income TDS 83 542 2009-10 CIT Mumbai
Tax Act 1961 The Income Mismatch TDS 285 409 2010-11 With I.T.O. for Rectification
Tax Act 1961 The Income Mismatch Tax 6 642 500 2013-14 CIT Mumbai
Tax Act 1961

(viii) In our opinion and according to The information and explanations given to usThe Company has not defaulted in repayment of loans or borrowings from Financialinstitutionsandbanks exceptfor minor delays in payment of interest to Banks. As TheCompany has not borrowed anymoney fromGovernments or issued any Debentures The questionof dues payable to The m does not arise.

(ix) In our opinion and according to The information and explanations given to us Theterm loans have been applied for The purpose for which those were obtained. However TheCompany has neither raised any moneys by way of Initial Public Offer or Further PublicOffer(including debt instruments).

(x) Based upon The audit procedures performed and information and explanations given byThe management we report that neither fraud on The Company by its officers or employeesnorany fraudby The Company has been noticed orreported during The course of our audit.

(xi) The Company has paidorprovided for managerial remuneration in accordance with Therequisite approvals mandated by The provisions of Section 197 read with Schedule V of TheAct.

(xii) As The Company is not a nidhi company The provisions of Clause 3(xii) of TheOrder are not applicable 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 related parties are incompliancewith Section177 and 188 of The Act wherever applicable and details have beendisclosed in The Financial Statements (Refer Clause 5 of Note 22) as required by Theapplicable accounting standards.

(xiv) As The Company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during The year theprovisionsof Clause3(xiv) of The Order arenot applicable to The Company.

(xv) As The Company has not entered intoanynon-cash transactionscovered under Section192of The Actwiththedirectors or persons connected with him The provisions of Clause3(xv)of The Orderarenot applicable to The Company.

(xvi) As The Company is not required to be registered under Section 45-IA of TheReserve Bank of India Act 1934 The provisions of Clause 3(xvi) of The Order are notapplicable to The Company.

J. KALA & ASSOCIATES
CHARTERED ACCONTANTS
FIRM REGISTRATIONNO.:118769W
Sd/-
PLACE:MUMBAI JAYESH KALA
DATE:30thMay 2016 PARTNER
MEMBERSHIP NO.:101686

M/s.VJTF EDUSERVICES LIMITED

ANNEXURE‘B'TO The AUDITORS' REPORT

REFERRED TO IN PARAGRAPH 2 (f) OF The INDEPENDENT AUDITORS' REPORT OF EVEN DATE TO TheMEMBERSofVJTF Eduservices Limitedon The standalone Financial statements forthe year ended31stMarch 2016.

Report on The Internal Financial Controls under Clause (i) of sub-section 3 of Section143 of The Act

We have audited The internal Financial controls over Financial reporting of M/s.VJTFEDUSERVICES LIMITED (‘the Company') as of 31st March 2016 inconjunction with our 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 forestablishingdown 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'). The seresponsibilities 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 The Company's policies The safeguardingof its assets The prevention and detection of frauds and errors The accuracy andcompletenessofthe 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 deemed to beprescribed 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 ICAI.Those Standards and The Guidance Note require that we complywith ethical requirements and plan and perform The audit to obtain reasonable assuranceabout whether adequate internal Financial controls over Financial reporting wereestablished and maintained and if such controls operated effectively in all materialrespects.

Our audit involves performing procedures to obtain audit evidence about The adequacy ofThe internal Financial controls system over Financial reporting and The ir 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' 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 processdesigned toprovide 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 controlover 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 reasonableassurance 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 authorizations of Themanagement and directors of The Company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized 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 31st March 2016based on The internal control over Financial reporting criteria established by The Companyconsidering The essential components of internal control stated in The Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued byICAI.

J. KALA & ASSOCIATES
CHARTERED ACCONTANTS
FIRM REGISTRATION. NO.: 118769W
Sd/-
PLACE: MUMBAI JAYESH KALA
DATE: 30thMay 2016 PARTNER
MEMBERSHIP NO.:101686