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Aneri Fincap Ltd.

BSE: 531252 Sector: Financials
NSE: N.A. ISIN Code: INE720D01019
BSE 00:00 | 11 Nov 2.70 0
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2.70

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2.70

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2.70

NSE 05:30 | 01 Jan Aneri Fincap Ltd
OPEN 2.70
PREVIOUS CLOSE 2.70
VOLUME 100
52-Week high 6.28
52-Week low 2.24
P/E 0.05
Mkt Cap.(Rs cr) 1
Buy Price 2.58
Buy Qty 9766.00
Sell Price 2.24
Sell Qty 891.00
OPEN 2.70
CLOSE 2.70
VOLUME 100
52-Week high 6.28
52-Week low 2.24
P/E 0.05
Mkt Cap.(Rs cr) 1
Buy Price 2.58
Buy Qty 9766.00
Sell Price 2.24
Sell Qty 891.00

Aneri Fincap Ltd. (ANERIFINCAP) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR’S REPORT

To the Members of ANERI FINCAP LIMITED (Formerly Known as Farry Industries LimitedReport on the Standalone Ind AS Financial Statements

We have audited the accompanying Standalone Ind AS Financial Statements of ANERI FINCAPLIMITED (Formerly Known as Farry Industries Limited) (“the Company”) whichcomprise the Balance Sheet as at March 31 2018 and the Statement of Profit and Loss theStatement of Cash Flows 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 Standalone 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 Standalone Ind AS Financial Statements that give a true and fair view of thefinancial position financial performance including cash flows in accordance with theIndian Accounting Standards (Ind AS) prescribed under section 133 of the Act read with theCompanies (Indian Accounting Standards) Rules 2015 as amended and other accountingprinciples generally accepted in India. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe 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 Standalone Ind AS Financial Statements that give atrue and fair view and are free from material misstatement whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these Standalone Ind AS FinancialStatements based on our audit. In conducting our audit we have taken into account theprovisions of the Act the accounting and auditing standards and matters which arerequired to be included in the audit report under the provisions of the Act and the Rulesmade thereunder and the Order issued under section 143(11) of the Act. We conducted ouraudit of the Standalone Ind AS Financial Statements in accordance with the Standards onAuditing specified under Section 143(10) of the Act. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the Standalone Ind AS Financial Statements are free from materialmisstatement. An audit involves performing procedures to obtain audit evidence about theamounts and the disclosures in the Standalone Ind AS Financial Statements. The proceduresselected depend on the auditor’s judgment including the assessment of the risks ofmaterial misstatement of the Standalone Ind AS Financial Statements whether due to fraudor error. In making those risk assessments the auditor considers internal financialcontrol relevant to the Company’s preparation of the Standalone Ind AS FinancialStatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Company’s Directors as well as evaluating the overall presentation of theStandalone Ind AS Financial Statements. We believe that the audit evidence obtained by usis sufficient and appropriate to provide a basis for our audit opinion on the StandaloneInd 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 2018 and its profit and its cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act based on our audit 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 and the Statement of Cash Flowdealt with by this Report are in agreement with the books of account.

d) In our opinion the aforesaid Standalone Ind AS Financial Statements comply with theIndian Accounting Standards prescribed under section 133 of the Act.

e) On the basis of the written representations received from the directors of theCompany as on March 31 2018 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2018 from being appointed as a director in termsof Section 164(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 operating effectiveness of the Company’s internal financial controlsover financial reporting.

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 disclosed the impact of pending litigations on its financialposition in its Standalone Ind AS Financial Statements.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts. iii. There has been no delay in transferring amounts required to betransferred to the Investor Education and Protection Fund by the Company.

2. OTHER MATTER

a) In our opinion and to the best of our information and according to theexplanations given to us as per audited financial statement and financial statementsubmitted to BSE of F.Y.2016-2017 are materially changed and same has been reported toconcern authority. However we have considered audited financial statement forfinalization books of accounts.

b) In our opinion and to the best of our information and according to theexplanations given to us company has not considered sales of investment.

c) In our opinion and to the best of our information and according to theexplanations given to us Share of Database Trading Pvt Ltd. are sold during the year buteffect of the same are already taken in previous year financials

3. As required by the Companies (Auditor’s Report) Order 2016 (“theOrder”) issued by the Central Government in terms of Section 143(11) of the Act wegive in “Annexure A” a statement on the matters specified in paragraphs 3 and 4of the Order.

4. As per section 138 of the Companies Act 2013 read with Rule 13 of the Companies(Accounts) Rules 2014 Company is required to appoint Internal Auditor; however companynot appointed Internal Auditor for the year ended March 2018.

As per our report of even date

FOR S S R V & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Reg. No.135901W

Satyendra S Sahu

Partner

Membership No. 126823

Date: 30th May 2018

Place: Mumbai

ANNEXURE ‘A’ TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal and RegulatoryRequirements’ section of our report to the Members of Infosys Limited of even date)i. In respect of the Company’s fixed assets:

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

(b) The Company has a program of verification to cover all the items of fixed assets ina phased manner which in our opinion is reasonable having regard to the size of theCompany and the nature of its assets. Pursuant to the program certain fixed assets werephysically verified by the management during the year. According to the information andexplanations given to us no material discrepancies were noticed on such verification.

ii. According to the information and explanations given to us the records examined byus and based on the examination of the conveyance deeds provided to us we report thatthe title deeds comprising all the immovable properties of land and buildings which arefreehold are held in the name of the Company as at the balance sheet date. In respect ofimmovable properties of land and building that have been taken on lease and disclosed asfixed assets in the Standalone Ind AS Financial Statements the lease agreements are inthe name of the Company.

i. a) The management has conducted the physical verification of inventory at reasonableintervals. b) The discrepancies noticed on physical verification of the inventory ascompared to books records which has been properly dealt with in the books of account werenot material.

iii. According to the information and explanations given to us the Company has takenunsecured loans from bodies corporate covered under section 189 of the Companies Act2013. However in our opinion and according to the information and explanations given tous Company has not maintained register covered under section 189 of the Companies Act.iv. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Sections 185 and 186 of the Act in respect ofgrant of loans making investments and providing guarantees and securities as applicable.

v. The Company has not accepted deposits during the year and does not have anyunclaimed deposits as at March 31 2018 and therefore the provisions of the clause 3 (v)of the Order are not applicable to the Company. vi. The maintenance of cost records hasnot been specified by the Central Government under section 148(1) of the Companies Act2013 for the business activities carried out by the Company. Thus reporting under clause3(vi) of the order is not applicable to the Company. vii. According to the information andexplanations given to us in respect of statutory dues:

(a)The Company has generally been regular in depositing undisputed statutory duesincluding Provident Fund Employees’ State Insurance Income Tax Sales Tax ServiceTax Value Added Tax Customs Duty Excise Duty Cess and other material statutory duesapplicable to it with the appropriate authorities. (b)There were no undisputed amountspayable in respect of Provident Fund Employees’ State Insurance Income Tax SalesTax Service Tax Value Added Tax Goods and Service Tax Customs Duty Excise Duty Cessand other material statutory dues in arrears as at March 31 2018 for a period of morethan six months from the date they became payable. viii. The Company has not taken anyloans or borrowings from financial institutions banks and government or has not issuedany debentures. Hence reporting under clause 3 (viii) of the Order is not applicable tothe Company.

ix. The Company has not raised moneys by way of initial public offer or further publicoffer (including debt instruments) or term loans and hence reporting under clause 3 (ix)of the Order is not applicable to the Company.

x. To the best of our knowledge and according to the information and explanations givento us no fraud by the Company or no material fraud on the Company by its officers oremployees has been noticed or reported during the year.

xi. In our opinion and according to the information and explanations given to us theCompany has paid/provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Act.

xii. The Company is not a Nidhi Company and hence reporting under clause 3 (xii) of theOrder is not applicable to the Company.

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 Standalone Ind AS Financial Statements as requiredby the applicable accounting standards.

xiv. During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly paid convertible debentures and hence reportingunder clause 3 (xiv) of the Order is not applicable to the Company.

xv. In our opinion and according to the information and explanations given to usduring the year the Company has not entered into any non-cash transactions with itsDirectors or persons connected to its directors and hence provisions of section 192 of theCompanies Act 2013 are not applicable to the Company.

xvi. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

As per our report of even date

FOR S S R V & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Reg. No.135901W

Satyendra S Sahu

Partner

Membership No. 126823

Date: 30th May 2018

Place: Mumbai

ANNEXURE “B” TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal and RegulatoryRequirements’ section of our report to the Members of ANERI FINCAP LIMITED of evendate)

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 ANERIFINCAP LIMITED (“the Company”) as of March 31 2018 in conjunction with ouraudit of the Standalone Ind AS Financial Statements of the Company for the year ended onthat date.

Management’s Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting issued by the Institute of Chartered Accountants of India. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business the safeguarding of its assets the prevention and detection offrauds and errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Companies Act 2013.

Auditor’s Responsibility

Our responsibility is to express an opinion on the internal financial controls overfinancial reporting of the Company based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the “Guidance Note”) issued by the Institute of Chartered Accountantsof India and the Standards on Auditing prescribed under Section 143(10) of the CompaniesAct 2013 to the extent applicable to an audit of internal financial controls. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand 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 performingprocedures to obtain audit evidence about the adequacy of the internal financial controlssystem over financial reporting and their operating effectiveness. Our audit of internalfinancial controls over financial reporting included obtaining an understanding ofinternal financial controls over financial reporting assessing the risk that a materialweakness exists and testing and evaluating the design and operating effectiveness ofinternal control based on the assessed risk. The procedures selected depend on theauditor’s judgement including the assessment of the risks of material misstatementof the financial statements whether due to fraud or error. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion on the Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

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 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 financial statements.

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 to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2018 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

As per our report of even date

FOR S S R V & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Reg. No.135901W

Satyendra S Sahu

Partner

Membership No. 126823

Date: 30th May 2018

Place: Mumbai