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Almondz Global Securities Ltd.

BSE: 531400 Sector: Financials
NSE: ALMONDZ ISIN Code: INE326B01027
BSE 00:00 | 24 Sep 97.75 4.65
(4.99%)
OPEN

96.75

HIGH

97.75

LOW

94.35

NSE 00:00 | 24 Sep 97.25 4.60
(4.96%)
OPEN

96.70

HIGH

97.25

LOW

93.10

OPEN 96.75
PREVIOUS CLOSE 93.10
VOLUME 19741
52-Week high 97.75
52-Week low 10.27
P/E 67.41
Mkt Cap.(Rs cr) 253
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 96.75
CLOSE 93.10
VOLUME 19741
52-Week high 97.75
52-Week low 10.27
P/E 67.41
Mkt Cap.(Rs cr) 253
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Almondz Global Securities Ltd. (ALMONDZ) - Auditors Report

Company auditors report

To the Members of

Almondz GlobAl SecuritieS limited report on the Standalone Financial Statements opinion

We have audited the standalone financial statements

Almondz GlobAl SecuritieS limited ("the company") which comprise thebalance sheet as at 31st March 2019 and the statement of Profit and Loss the statementof changes in equity and statement of cash flows for the year then ended and notes to thefinancial statements including a summary of significant accounting policies and otherexplanatory information In our opinion and to the best of our information and according tothe explanations given to us the aforesaid standalone financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at March 31 2019 and profit/loss changes in equity and itscash flows date. basis for opinion

We conducted our audit in accordance with the Standards on

Auditing (SAs) specified under section 143(10) of the Companies

Act 2013. Our responsibilities under those Standards are further described in theAuditor's Responsibilities for the Audit of the Financial Statements section of ourreport. We are independent of the Company in accordance with the Code of Ethics issued bythe Institute of Chartered Accountants of India together with the ethical requirementsthat are relevant to our audit of the financial statements under the provisions of theCompanies Act 2013 and the Rules there under and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficientand opinion.

Key Audit matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters. Wehave determined the matters described below to be the key audit matters to be communicatedin our report.

Key Audit matters How our audit addressed the key audit matter
Revenue recognition for advisory and consultancy services (As described in accounting policies) The company has adopted AS- 09 Revenue Recognition for the Advisory and Consultancy services provided to Customers. We have read the company's revenue recognition accounting policies and assessed compliance of the policies with AS-09.
The Company has applied Proportionate Completion Method and Completed Service Contract Method. Claims litigations and contingencies (As described in Note-2.28)
The company is having various ongoing litigations court and other legal proceedings before tax and regularity authorities and courts. Our audit procedures included:
The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements We understood management's process relating to the identification and impact analysis of claims litigations and contingencies;
We analyzed responses obtained from management.
– Refer Note 6 to the standalone financial statements for the year ended on that We have read the minutes of meeting of the audit committee and the board of directors. We have assessed management assumptions and estimates related to disclosures of contingent liabilities in the financial statements.
Assessing the carrying value of the Inventory (As described in Note: 2.16) The company inventory comprise of Shares and Our audit procedures/testing included:
Securities. As at 31st March 2019 the carrying values of inventories amounts to Rs.16884886/-. We read and evaluated the accounting policies and disclosures made in the financial statement with respect to Inventories/Investment. shares and securities we have tested accounting policies in line with AS-13 (Accounting for Investment).
The inventories are carried at the lower of the cost and fair value. The fair value is arrived appropriatetoprovidea basisforour Since the inventory consist at with reference to the market value if available quotation in any stock exchange or any other available information to indicate a transaction between unrelated willing buyer and willing seller at arm's length price. We have checked the document provided by the management related to ascertaining fair value of inventories.

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 changes in equity and cash flows of the

Company in accordance with1 the accounting principles generally accepted inIndia including the accounting Standards specified under section 133 of the Act. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateimplementation and maintenance of accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the

Ltd. Annual Report 2018-19 49 accuracy and completeness of the accounting recordsrelevant to the preparation and presentation of the financial statement that give a trueand fair view and are free from material misstatement whether due to fraud or error. isresponsible Inpreparing the financial for assessing the Company's ability to continue as agoing concern disclosing as applicable matters related to going concern and using thegoing concern basis of accounting unless management either intends to liquidate theCompany or to cease operations or has no realistic alternative but to do so. That Boardof Directors is also responsible for overseeing the Company's financial reporting process.

Auditor's responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements. 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 sub-section (11) of section 143 ofthe Companies Act 2013 we give in the "Annexure A" a statement on thematters specified in paragraphs 3 and 4 of the Order to the extent applicable. Asrequired by Section 143(3) of the Act we report that: We have sought and obtained all theinformation and explanations which to the best of our knowledge and belief were necessaryfor the purposes of our audit. a. In our opinion proper books of account as required bylaw have been kept by the Company so far as it appears from our examination of thosebooks. b. 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. c. In our opinionthe aforesaid standalone financial statements comply with the Accounting Standardsspecified under

Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. d. Onthe basis of the written representations received from the directors as on 31st March2019 taken on record by the

Board of Directors none of the directors is disqualified as on 31st March 2019 frombeing appointed as a director in terms of Section 164 (2) of the Act. e. With respect tothe adequacy of the internal financial controls over financial reporting of the Companyand the operating effectiveness of such controls refer to our separate Report in "Annexureb". f. With respect to the other matters to be included in the Auditor's Reportin accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in ouropinion and 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 financial positionin its standalone financial statements Refer Note 2.28 to the standalone financialstatements. ii. As informed to us the company did not have any long-term contractsincluding derivative contracts for which there were any material foreseeable losses. iii.As informed to us the company has no amount for transferring to the Investor Educationand Protection Fund by the Company.

For mohan Gupta& company
chartered Accountants
Firm's Registration Number:-0006519N
cA mohan Gupta
Place: New Delhi Partner
Date: 27.05.2019 Membership Number-082466

Annexure-A to the independent Auditors' report

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the standalone financial statements for the year ended 31 March 2019 we reportthat: 1. a) In our opinion the Company has maintained proper records showing fullparticulars including quantitative details and situation of fixed

1. b) According to the information and explanations given to us fixed Assets have beenphysically verified by the management in a phased manner designed to cover all the itemswhich in our opinion is reasonable having regard to the size of the company and nature ofits business. Pursuant to the program a portion of the fixed asset has been physicallyverified by the management during the year and no material discrepancies between the booksrecords and the physical fixed . assets have been noticed

1. c) According to the information and explanations given to us and on the basis of ourexamination of the records of the company the title deeds of immovable properties areheld in the name of the company.

2. The inventory (consisting shares and securities) has been verified during the yearby the management. In our opinion the frequency of verification is reasonable. There isno material discrepancy was noticed on verification. The shares held as stock in tradehave been confirmed with the statement of holding of depository at the end of the year bythe management. In case of securities acquired during the year for which settlement ofdelivery as per stock exchanges regulations has happened post 31st March

2019 the holding has been confirmed with statement of holding of depository for theperiod subsequent to 31st

March 2019. In our opinionthefrequencyofverification of holding is reasonable. Nodiscrepancies have been noticed on verification between securities held as stock in tradeas per the statement of holding and as per books of account.

3. The Company has granted unsecured loans to companies firms Limited Liabilitypartnerships or other parties covered in the Register maintained under section 189 of theAct.

Accordingly the provisions of clause 3 (iii) (a) to (c) of the Order are applicable tothe Company.

S. name of Parties no. opening balance loan Given during the year repayment of loan Given maximum Amount outstanding closing balance as on 31/03/2019
1 Skiffle healthcare services limited 100000 19130000 6875000 15230000 12355000
2 Almondz Global Infra-consultant Limited 341000 80100000 50330000 30111000 30111000
3 Almondz Finanz Limited - 115879778 104038686 61570000 11841092
4 Almondz Wealth Advisors Limited - 17260300 14460300 2800000
5 North Square Projects Private Limited 830000 3800000 930000 3700000 3700000

(a) In our opinion the rate of interest and other terms and conditions on which theloan had been granted to the bodies corporate listed in the register maintained undersection 189 of the act were not prejudicial to the interest of the company.

(b) In the case of the loans granted to the bodies corporate listed in the registermaintained under section 189 of the act the borrowers have been regular in the payment ofthe principal and interest as stipulated. (c) There are no overdue amounts for more thanninety days in respect of the loan granted to a body corporate listed in the registermaintained under section 189 of the act.

4. In our opinion and according to the information and explanations given to us thecompany has given loan to and provide guarantee for its wholly owned subsidiaries to whichprovisions of section 185 and 186 of the Act are not applicable. The company has notprovided any security and it has complied with the provisions of section 186 of the Act tothe extent applicable to it with respect to the investments made.

5. According to the information and explanations given to us the company has notaccepted any deposits within the meaning of section 73 to 76 of the Act and the rulesframed there under to the extent notified. Accordingly paragraph

3(v) of the order is not applicable to the company.

6. In our opinion the maintenance of Cost Records has not been specified by theCentral Government under subsection (1) of Section 148 of the Act in respect of theactivities carried on by the company. Accordingly paragraph 3(vi) of the order is notapplicable to the company. 7 a). According to the information's and explanations given tous and the records of the company examined by us the Company has been generally regularin depositing with appropriate authorities undisputed statutory dues including employees'state insurance sales tax service tax goods & services tax value added tax cessand other statutory dues with appropriate authorities and no statutory dues areoutstanding for a period exceeding six months from the date they became payable. 7 b).According to the information's and explanations given to us and the records of the Companyexamined by us there are no dues of income-tax sales tax service tax goods &services tax value added tax or cess which have not been deposited on account of anydispute except as under:

name of the Statue nature of due Amount (rs.) Assessment year to which amount relates Forum where dispute is pending
The finance act2000 Service Tax 6444110 2008-2010 Additional Commissioner Service Tax New Delhi
The finance act2000 Service Tax 5000 2006-2010 Additional Commissioner Service Tax New Delhi

8. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to PFI and Banks. The company has notobtained any loan or borrowings from governments. Further the company does not have anydebentures issued/ outstanding at any time during the year.

9. Based upon the audit procedures performed and the information and explanations givenby the management the company has not raised moneys by way of initial public or furtherpublic offer including debt instruments and offer term Loans. Accordingly the provisionsof clause 3 (ix) of the Order is not applicable to the Company.

10. In our opinion and according to the information and explanation given to us nofraud by the company or any fraud on the Company by its officers/ employees has beennoticed or reported during the year.

11. Based upon the audit procedures performed and the information and explanationsgiven by the management the managerial remuneration has paid or provided during the yearin accordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act.

12. In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 3 (xii) of the Order is not applicable to the Company.

13. According to the information's and explanations given to us and the records of thecompany examined by us the company has complied all the provision of section 177 and 188of the Companies Act 2013 regarding the transaction with related parties. The company hasdisclosed all the

. transactionwithrelatedpartiesinfinancial statement

14. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3 (xiv) of the Order are not applicable tothe Company and hence not commented upon.

15. According to the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (xv) ofthe Order is not applicable to the Company and hence not commented upon.

16. According to the audit procedures performed and the information and explanationsgiven by the management 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 and hence not commented upon.

For mohan Gupta & company
chartered Accountants
Firm's Registration Number:-006519N
cA mohan Gupta
Place: New Delhi Partner
Date: 27.05.2019 Membership Number-082466

Annexure - b to the Auditors' report report on the nternali Financial controls underclause (i) of Sub-section 3 of Section 143 of the companies Act 2013 ("theAct")

We have audited the internal financial controls over financial reporting of ALMONDZGLOBAL SECURITIES LIMITED ("the Company") as of 31 March 2019 in conjunctionwith our audit of the standalone 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 (‘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

Companies Act 2013.

Auditors' responsibility

Our responsibility is to express an opinion on controls over the Company'sinternalfinancialcontrolsoverfinancialreporting basedon our reporting including thepossibility of collusion or improper audit. We conducted our audit in accordance with theGuidance 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 Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of Internal

Financial Controls and both issued by the Institute of Chartered Accountants of India.Those Standards and the Guidance Note require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols 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 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 procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the standalone financial statements whether due to fraud or We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion on the

Company's internal financial controls system over reporting. meaning of internalFinancial 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 purposes in accordance withgenerally accepted accounting principles. A company's internalfinancial reportingcontrol over 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 standalone financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorizations ofmanagement 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 standalone financial statements.inherent limitations of nternali Financial controls over Financial reporting

Because of the inherent limitations of internal financial financial management overrideof controls 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 as at 31 March 2019 based on the wereoperatingeffectivelyinternal control over financial reporting criteria established by the

Company considering the essential components of internal control stated in the GuidanceNote on Audit of Internal Financial Controls Over Financial Reporting issued by theInstitute of Chartered Accountants of India.

For mohan Gupta & company
chartered Accountants
Firm's Registration Number:-006519N
cA mohan Gupta
Place: New Delhi Partner
Date: 27.05.2019 Membership Number-082466

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