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Adhbhut Infrastructure Ltd.

BSE: 539189 Sector: Infrastructure
NSE: N.A. ISIN Code: INE578L01014
BSE 00:00 | 15 Mar Adhbhut Infrastructure Ltd
NSE 05:30 | 01 Jan Adhbhut Infrastructure Ltd
OPEN 195.10
PREVIOUS CLOSE 195.10
VOLUME 1
52-Week high 195.10
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 215
Buy Price 195.10
Buy Qty 50.00
Sell Price 153.05
Sell Qty 2.00
OPEN 195.10
CLOSE 195.10
VOLUME 1
52-Week high 195.10
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 215
Buy Price 195.10
Buy Qty 50.00
Sell Price 153.05
Sell Qty 2.00

Adhbhut Infrastructure Ltd. (ADHBHUTINFRA) - Auditors Report

Company auditors report

The Members of M/s Adhbhut Infrastructure Limited Report on the Standalone Ind ASFinancial Statements

We have audited the accompanying standalone Ind AS financial statements of AdhbhutInfrastructure Limited (The Company) which comprises the Balance Sheet as at 31s1March 2021 the statement of Profit and Loss (including other comprehensive Income) thestatement of Change in Equity and the statement of Cash Flow for the year then ended anda summary 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 specified in section134(5) of the Companies Act 2013 ("the Act1') with respect to thepreparation of these Ind AS financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income change inequity and cash flows of the company in accordance with the accounting principlesgenerally accepted in India including the Indian accounting standards (Ind AS) prescribedunder section 133 of the Act read with relevant rules issued there under.

This responsibility also includes the maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the companyand for preventing and detecting the frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

In conducting our audit we have taken into account the Provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit of the standalone Ind AS financial statements in accordance withthe Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone Ins AS financial statements are free.from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone Ind AS financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the standalone Ind AS financial statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the company's preparation of the standalone Ind AS financial statements thatgive a true and fair view in

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order to design audit procedures that are appropriate in the circumstances. An auditalso includes 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 standalone 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 standalone Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of thecompany as at March 31 2021 and its profit and loss total comprehensive income thechange in equity and its cash flows for the year ended on that date.

Emphasis of Matter Paragraph

a) Note 12 of the financial statements which describes that the company is not paidtheir outstanding statutory dues of Rs. 621 890 /- to the credit of Government for morethan 6 months. Our opinion is not modified in respect of this matter but we consider thatit is material important for the understanding of financial statement user.

b) In Note. 13 It is also important for the understanding of the financial users thatthe other current liabilities include advance against property which is verified with thememorandum of understating only. However it is not possible to verify detail plan of theproject due to nonavailability of documents which may result in unprecedented dues payableon the demand.

Report on other Legal and Regulatory Requirements

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 of the act we give inannexure A a

statement on the matters specified in paragraph 3 & 4 of the Order to the extentapplicable.

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 (including other comprehensiveincome) and the Statement of Changes in Equity and Statement of Cash Flow dealt with bythis Report are in agreement with relevant the books of account;

(d) In our opinion the aforesaid standalone Ind AS financial statements comply withthe Indian Accounting Standards prescribed under section 133 of the Act;

(e) On the basis of the written representations received from the directors as on 31s'March 2021 and taken on record by the board of directors none of the directors isdisqualified as on March 31 2021 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". Our report expresses an unmodified opinion onthe adequacy and the operating effectiveness of the company's internal financial controlsover financial reporting; 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 as amended inour opinion and to the best of our information and according to the explanations given tous:

i. The company has not any pending litigations on its financial position in itsstandalone Ind AS financial statements.

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 were required to be transferred to the InvestorEducation and Protection Fund by the company.

Annexure - A to the Independent Auditors' Report

The Annexure referred to in Independent Auditors' Report to the members of the Companyon the

standalone financial statements for the year ended 31st March 2021

(i) The Company has no any property plant and equipment as on 31st March2021 nor at any time during the financial year ended 31st March 2021.Accordingly paragraph 3{i) of the order is not applicable.

(ii) The Company has not purchased/ sold goods during the year nor there is any openingstock requirement of reporting on physical verification of stocks or maintenance ofinventory records in our opinion does not arise.

(iii) The Company has not granted any loan to body corporate covered in the registermaintained under section 189 of the Companies Act 2013 ('the Act'). Accordinglyparagraph 3(iii) of the order is not applicable.

(iv) 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 with respectto the loans investments guarantees and security.

(v) Since the company has not accepted any deposit from public the directives issuedby the Reserve Bank of India and the provisions of section 73 to 76 or any other relevantprovisions-of the Companies Act 2013 and the rules framed there under with regard to thedeposits accepted from the public are not applicable.

(vi) Section 148(1) of the Companies Act 2013 ('the Act') is not applicable. Thusparagraph 3(vi) is not applicable.

(vii) (a) According to the information and explanations given to us the Company has notdeposited their statutory dues as specified in Note. 12 for more than 6 Month.

(b) According to information and explanations given to us and the records of thecompany examined by us the company has not any pending any disputed statutory dues.

(viii) Company does not have any outstanding loan or borrowings from any financialinstitutions bank government or debentures holders during the year. Accordinglyparagraph 3(viii) of the order is not applicable.

(ix) According to the information and explanations given to us and as per ourverification of the records of the company the company has not raised moneys by way ofinitial public offer or further public offer (Including debt instruments). The term loansavailed by the company have been applied for the purpose for which the loans wereobtained.

(x) According to the information and explanations given to us no fraud by the companyor on the company by its officers or employees has been noticed or reported during theYear ended 31st March 2021.

(xi) According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has not been paid or provided anymanagerial remuneration during the year. Accordingly paragraph 3(xi) not applicable.

(xii) In our opinion and according to the information and explanations given to usthe company is not a

Nidhi company. Therefore the provisions of Clause 3 (xii) of the Order are notapplicable to the company.

(xiii) According to the information and explanations given to us and as per ourverification of the records

of the company all transactions with the related parties are in compliance with theSections 177 and 188 of the Companies Act 2013 where applicable and the details have beendisclosed in the financial statements as required by the applicable accounting standards.

(xiv) According to the information and explanations given to us and as per ourverification of the records

of the company the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the period underreview. Accordingly the provisions of Clause 3 (xiv) of the order are not applicable tothe company

(xv) According to the information and explanations given to us and as per ourverification of the records of the company the company has not entered into any non-cashtransactions with directors or persons connected with him. Accordingly the provisions ofClause 3 (xv) of the order are not applicable to the company.

(xvi) In our opinion the company is not required to be registered under section 45-iAof the reserve Bank of India Act 1934. Accordingly the provisions of Clause 3 (xvi) ofthe order are not applicable to the company.

Annexure - B to the Independent Auditors' Report

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of AdhbhutInfrastructure Limited ("the Company") as of 31st March 2021 in conjunction withour audit of the standalone Ind AS 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 ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the 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 judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company's internal financial controls system overfinancial 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 materia! 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 2021based 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 by the Institute ofChartered Accountants of India.

For SSRA & Company
Chartered Accountants
FRN: 014266N
S d/-
Place ; New Delhi Suresh Goyal
Date : 30.07.2021 (Partner)
M.No.: 093711

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