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A Infrastructure Ltd.

BSE: 539620 Sector: Industrials
NSE: N.A. ISIN Code: INE534E01020
BSE 00:00 | 19 Sep 17.65 0
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NSE 05:30 | 01 Jan A Infrastructure Ltd
OPEN 17.65
PREVIOUS CLOSE 17.65
VOLUME 100
52-Week high 54.25
52-Week low 16.30
P/E 8.87
Mkt Cap.(Rs cr) 75
Buy Price 17.05
Buy Qty 95.00
Sell Price 17.90
Sell Qty 100.00
OPEN 17.65
CLOSE 17.65
VOLUME 100
52-Week high 54.25
52-Week low 16.30
P/E 8.87
Mkt Cap.(Rs cr) 75
Buy Price 17.05
Buy Qty 95.00
Sell Price 17.90
Sell Qty 100.00

A Infrastructure Ltd. (AINFRASTRUCTURE) - Auditors Report

Company auditors report

TO THE MEMBERS OF A INFRASTRUCTURE LIMITED

Report on the Ind AS Financial Statements

We have audited the accompanying Ind AS financial statements of A InfrastructureLimited ("the Company") which comprise the Balance Sheet as at 31 March2018 the Statement of Profit and Loss (including other comprehensive income) the CashFlow Statement and the statement of changes in equity for the year then ended and asummary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Ind AS 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 Ind AS financial statements that give a true financial position financialperformance and fair view of the cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Indian (Ind AS)Accounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the Ind AS financial statements that give a true and fairview and are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these Ind AS financial statements basedon 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 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 Ind AS financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Ind As financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of theInd AS financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the Ind AS financial statements that give a true and fair view in order todesign audit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of the Ind AS financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Ind AS financial statements give the information required bythe Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India including the Ind AS of the financialposition of the company as at 31st March 2018 and its financial performance includingother comprehensive income its cash flow and the changes in equity for the year ended onthat date.

Other Matters

The comparative financial information of the Company for the year ended 31st March2017 included in these Ind AS financial statements is based on the financial statementfor the year ended 31st March 2017 which were audited by the predecessor auditor who hadexpressed an unmodified opinion. Our opinion on the financial statements and our report onOther Legal and Regulatory Requirements below is not modified in respect of this matter.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order2016 ( "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 inparagraphs 3 and 4 in the 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 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 the cash flow statement and thestatement of the changes in equity dealt with by this Report are in agreement with thebooks of account.

d) In our opinion the aforesaid Ind AS financial statements comply with the AccountingStandards specified under Section 133 of the Act read with relevant rules issuedthereunder.

e) On the basis of the written representations received from the directors as on 31March 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2018 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-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 our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements – Refer note 45(i)(a) of the Ind AS financialstatements.

ii. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

FOR K. N. GUTGUTIA & CO.
Chartered Accountants
Firm Registration Number 304153E
Sd/-
K. C. SHARMA
Date : 29th May 2018 Partner
Place : New Delhi Membership No.50819

ANNEXURE ‘A' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph I of Report on other legal and Regulatory Requirements'section of our report of even date)

I. a) The company has maintained proper records showing full particulars includingquantitative details and situations of Property Plant and Equipments.

b) The Property Plant and Equipments were physically verified during the year by themanagement in accordance with a regular program of verification which in our opinionprovides for physical verification of all Property Plant and Equipments at reasonableintervals. According to the information and explanation given to us no materialdiscrepancies were noticed on such verification.

c) According to the information and explanations given to us and the record examined byus and based on the examination of the registered sale deed/transfer deed/conveyance deedprovided to us we report that the title deeds comprising all the immovable propertiesof buildings which are freehold are held in the name of the company as at the balancesheet date.

II. As explained to us inventories were physically verified during the year by themanagement at reasonable intervals except for inventories lying with third parties whereconfirmations of inventories held by such third parties have been received and no materialdiscrepancies were noticed on physical verification.

III. a) The Company has granted unsecured loans to companies firms Limited LiabilityPartnerships or other parties covered in the register maintained under Section 189 of thecompanies Act 2013 which is not prejudicial to the interest of the company.

b) The schedule of repayment of principal and interest of the above loan has beenstipulated and the company is regular in receipt of the same.

c) There is no amount overdue of more than 90 days in respect of recovery of principaland interest of the above loan.

IV. In our opinion and according to the information and explanation given to us thecompany has complied with the provisions of section 185 and 186 of the Companies act 2013in respect of making loans investments and guarantees as applicable.

V. The company has not accepted any deposit from public under Section 73 to 76 and anyother relevant provisions of the Companies Act 2013 during the year. Therefore theprovisions of clause (v) of the Companies Auditor Report) Order 2016 is not applicable.

VI. According to the information and explanations given to us in our opinion thecompany has prima facie made and maintained the prescribed cost records pursuant to thecompanies (Cost Records and Audit) Rules 2015 as amended and prescribed by the centralgovernment under section (1) of section 148 of the Companies Act 2013.

We have however not made a detailed examination of the cost records with a view todetermine whether they are accurate or complete.

VII. According to the information and explanation given to us in respect of statutorydues:

a) The company has generally been regular in depositing undisputed statutory duesincluding provident fund employees state insurance income tax sales tax service taxcustoms duty excise duty value added tax Goods and Service tax Cess and any othermaterial statutory dues applicable to it with the appropriate authorities.

b) There were no undisputed amount payable in respect of provident fund employeesstate insurance income tax sales tax service tax customs duty excise duty valueadded tax Goods and Service tax Cess and any other material statutory dues in arrearsas at 31st March 2018 for a period of more than six months from the date theybecame payable.

c) Details of dues of income tax sales tax service tax customs duty and excise dutywhich have not been deposited as on 31st March 2018 on account of disputes.(Refer Annexure -C)

VIII. In our opinion and according to the information and explanations given to us thecompany has not defaulted in the repayment of loans or borrowings to financialinstitutions banks and government. The company has not issued any debentures.

IX. In our opinion and according to the information and explanations given to us theterm loans have been applied by the company for the purposes for which they were raised.The company has not raised monies by way of initial public offer or further public offer(including debt instruments).

X. Based upon the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and as per the information and explanations given bythe management we report that no fraud by the company and fraud on the company by itsofficers or employees has been noticed or reported during the course of audit.

XI. The managerial remuneration has been paid or provided by the company in accordancewith the requisite approvals mandated by the provisions of section 197 read with scheduleV to the companies Act 2013.

XII. The company is not a Nidhi company and hence reporting under clause (xii) of theCompanies (Auditors Report) Order 2016 is not applicable.

XIII. In our opinion and according to the information and explanations given to us thecompany is in compliance with section 177 and 188 of the Companies Act 2013 whereapplicable for all transactions with the related parties and the details of related partytransactions have been disclosed in the financial statements etc as required by theapplicable accounting standards.

XIV. During the year the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures and hence reporting underclause (xiv) of the Companies (Auditors Report) Order 2016 is not applicable to thecompany.

XV. During the year the company has not entered into any non cash transactions withits directors or persons connected with him and so clause (xv) of the Companies (AuditorsReport) Order 2016 is not applicable.

XVI. The company is not a non-banking financial company and hence the company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act 1934.

FOR K. N. GUTGUTIA & CO.
Chartered Accountants
Firm Registration Number 304153E
Sd/-
K. C. SHARMA
Date : 29th May 2018 Partner
Place : New Delhi Membership No.50819

"ANNEXURE B"

ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE IND AS

FINANCIAL STATEMENTS OF A INFRASTRUCTURE LIMITED

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 AInfrastructure Limited ("the Company") as of March 31 2018 in conjunctionwith our audit of the Ind AS financial statements of the Company for the year ended onthat 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 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 Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated 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 auditor's judgement including the assessment of the risks ofmaterial misstatement of the Ind AS 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 Ind AS financial statements for external purposes 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 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 Ind AS 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 Ind AS 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 2018 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 K. N. GUTGUTIA & CO.
Chartered Accountants
Firm Registration Number 304153E
Sd/-
K. C. SHARMA
Date : 29th May 2018 Partner
Place : New Delhi Membership No.50819