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Amarnath Securities Ltd.

BSE: 538465 Sector: Financials
NSE: N.A. ISIN Code: INE745P01010
BSE 00:00 | 17 Jan Amarnath Securities Ltd
NSE 05:30 | 01 Jan Amarnath Securities Ltd
OPEN 20.70
PREVIOUS CLOSE 20.75
VOLUME 1500
52-Week high 38.00
52-Week low 11.45
P/E 62.88
Mkt Cap.(Rs cr) 6
Buy Price 15.86
Buy Qty 200.00
Sell Price 20.75
Sell Qty 1357.00
OPEN 20.70
CLOSE 20.75
VOLUME 1500
52-Week high 38.00
52-Week low 11.45
P/E 62.88
Mkt Cap.(Rs cr) 6
Buy Price 15.86
Buy Qty 200.00
Sell Price 20.75
Sell Qty 1357.00

Amarnath Securities Ltd. (AMARNATHSEC) - Auditors Report

Company auditors report

Independent Auditor's Report On Financial Result Of Amarnath Securities LimitedPursuant to the Regulation 33 Of the SEBI ( Listing obligations and DisclosureRequiremnets) Regulation 2015

TO THE BOARD OF DIRECTOR OF AMARNATH SECURITIES LIMITED

1. We Have Audited the Accompanying Statement Of Financial Results of AmarnathSecurities Limited ( "The Company") For the Year ended March 31 2018 ("theStatement") being submitted by the company pursuant to the requirement ofRegulation 33 of SEBI ( Listing obligations and Disclosure Requirements ) Regulation 2015as modified by circular No. CIR/CFD/FAD/62/2016 dated July 5 2016.

2. This Statement OF financial Result Which is the responsibility of the Company'sManagement and approved by Board Of Directors Has been compiled from the Relatedfinancial statements which has been prepared in accordance With the Indian AccountingStandards prescribed under section 133 of Companies Act 2013 read with the relevant rulesissued there under (‘ Ind AS') and other accounting principles generally Accepted inIndia. Our Responsibility is to express an option on the statement based on our Audit ofsuch Financial Statement.

3. We Conducted our Audit in Accordance With the Standards on Auditing issued by TheInstitute of Chartered Accountants Of India. Those Standards Require that we plan andPerform the audit to obtain Reasonable assurance about whether the Financial results arefree from material misstatements. An Audit includes examining on a test basis evidenceSupporting the amounts disclosed as standalone financial Results. An audit also includesassessing the Accounting principles used and significant estimate made by Management. WeBelieve that our audit provides a reasonable basis for our opinion.

4. In our opinion and to the best of our information and according to The explanationsgiven to us the statement:

(i) Are presented in accordance with the requirements of regulation 33 of the SEBI(Listing obligations and Disclosure requirements) Regulation 2015 as modified bycircular no. CIR/CFD/FAC/62/2016 Dated 5th July 2016 : and

(ii) Give a true and fair view of the net profit/ loss (including other Comprehensiveincome) and other financial information in Conformity with the accounting principlesgenerally accepted in India including Ind AS specified under section 133 of the Act forthe year ended 31st March 2018.

5. The statement includes the results for the Quarter ended March 31 2018 being thebalancing figure between audited figures in respect of the full financial year and thepublished year to date figures up To the third quarter of the current financial year whichwere subject to limited review by us.

For A N A M & Associates
Chartered Accountants
Firm Regn. no: 005496S
Sd/-
CA. Nazim F Rajaiwala
Place : Ahmedabad Partner
Date : August 10 2018 Membership no: 131829.

Annexure A to Independent Auditor's Report

Report on the internal financial controls under clause (i) of sub-section 3 of section143 of the Act

1. We have audited the internal financial controls over financial reporting of AmarnathSecurities Limited. (‘the Company') as of 31 March 2018 in conjunction with our auditof the financial statements of the Company for the year ended on that date.

Management's responsibility for internal financial controls

2. 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 Act.

Auditors' responsibility

3. 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 deemed to be prescribed undersection 143(10) of the Act to the extent applicable to an audit of internal financialcontrols both applicable to an audit of internal financial controls and both issued bythe ICAI. 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.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the 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.

5. 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

6. A company's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of 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 themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures 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 couldhave a material effect on the financial statements.

Inherent limitations of internal financial controls over financial reporting

7. 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

8. 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 2018based 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.

Annexure B to Independent Auditor's Report

1. (a) The Company is maintaining proper records showing full particulars includingquantitative details and situationof fixed assets.

(b) The fixed assets are physically verified by the Management according to a phasedprogramme designed to cover all the items over a period of three years which in ouropinion is reasonable having regard to the size of the Company and the nature of itsassets. Pursuant to the programme the fixed assets has been physically verified by theManagement during the year and no material discrepancies have been noticed on suchverification.

(c) There are no immovable properties held by the Company

2. The Company is an investment company and consequently does not hold any inventory.Therefore the provisions of clause 3(ii) of the said Order are not applicable to theCompany.

3. The Company has not granted any loans secured or unsecured to companies firmslimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Act. Therefore the provisions of clause 3(iii) (iii)(a)(iii)(b) and(iii)(c) of the said Order are not applicable to the Company.

4. The Company has not granted any loans or provided any guarantees or security to theparties covered under section 185. Company is registered as a Non Banking Finance Companyhence provisions of section 186 in respect of investments made are not applicable to theCompany.

5. The Company has not accepted any deposits from the public within the meaning ofsections 73 74 75 and 76 of the Act and the Rules framed there under to the extentnotified.

6. The Central Government of India has not specified the maintenance of cost recordsunder sub-section (1) of section 148 of the Act for any of the products of the Company.

7. (a) According to the information and explanations given to us and the records of theCompany examined by us in our opinion the Company is generally regular in depositing theundisputed statutory dues including provident fund employees' state insurance incometax service tax and other material statutory dues as applicable with the appropriateauthorities.

(b) According to the information and explanations given to us and the records of theCompany examined by us there are no dues of service tax which have not been deposited onaccount of any dispute. The particulars of dues of income tax as at 31st March 2018 whichhave not been deposited on account of a dispute are as follows:

8. As the Company does not have any loans or borrowings from any financial institutionor bank or Government nor has it issued any debentures as at the Balance Sheet date theprovisions of clause 3(viii) of the Order are not applicable to the Company.

9. The Company has not raised any moneys by way of initial public offer further publicoffer (including debt instruments) and term loans. Accordingly the provisions of clause3(ix) of the Order are not applicable to the Company.

10. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of material fraud by the Company or on the Company by its officers or employeesnoticed or reported during the year nor have we been informed of any such case by theManagement.

11. The Company has not paid/provided for managerial remuneration.

12. As the Company is not a Nidhi Company and the Nidhi Rules 2014 are not applicableto itthe provisions of clause 3(xii) of the Order are not applicable to the Company.

13. The Company has not entered into any transactions with related parties.

14. The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review. Accordingly theprovisions of clause 3(xiv) of the Order are not applicable to the Company.

15. The Company has not entered into any non-cash transactions with its directors orpersons connected with him. Accordingly the provisions of clause 3(xv) of the Order arenot applicable to the Company.

16. The Company is required to and has been registered under section 45-IA of theReserve Bank of India Act 1934 as Non–Deposit accepting NBFC.

For A N A M & Associates
Chartered Accountants
Firm Regn. no: 005496S
Sd/-
CA. Nazim F Rajaiwala
Place : Ahmedabad Partner
Date : August 10 2018 Membership no: 131829.