You are here » Home » Companies » Company Overview » Anupam Finserv Ltd

Anupam Finserv Ltd.

BSE: 530109 Sector: Financials
NSE: N.A. ISIN Code: INE069B01015
BSE 00:00 | 13 Nov 16.15 -0.05
(-0.31%)
OPEN

16.15

HIGH

16.15

LOW

16.05

NSE 05:30 | 01 Jan Anupam Finserv Ltd
OPEN 16.15
PREVIOUS CLOSE 16.20
VOLUME 2654
52-Week high 18.00
52-Week low 8.95
P/E 24.85
Mkt Cap.(Rs cr) 17
Buy Price 16.15
Buy Qty 18.00
Sell Price 16.15
Sell Qty 500.00
OPEN 16.15
CLOSE 16.20
VOLUME 2654
52-Week high 18.00
52-Week low 8.95
P/E 24.85
Mkt Cap.(Rs cr) 17
Buy Price 16.15
Buy Qty 18.00
Sell Price 16.15
Sell Qty 500.00

Anupam Finserv Ltd. (ANUPAMFINSERV) - Auditors Report

Company auditors report

To the Members of Vantage Corporate Services Limited Report on the Financial Statements

We have audited the accompanying financial statements of Vantage Corporate ServicesLimited(‘the Company') which comprise the Balance Sheet as at March 31 2018theStatement of Profit and Loss and the Cash Flow statement for the year then ended and asummary of 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 stated in Section134(5) of the Companies Act 2013 (“the Act”) with respect to the preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting 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 controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant tothe preparation and presentation of thefinancial statements that give a true.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken in to 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 there under.

We conducted our auditing 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 reason able assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as atMarch31 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 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 Act we give in the Annexure A a statement on the matters specified in the paragraph3 and 4 of the order.

2. As required by Section 143 (3) of the Act we repor 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 cash flow statementdealt with by this Report are in agreement with the books of account;

(d) in our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules2014; (e) on the basis of the written representations received from thedirectors as 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”; and

(g) with respect to the other matters to be included in the Auditor's Report inaccordance with Rule

11of the Companies (Audit and Auditors) Rules2014 in our opinion and to the best ofour information and according to the explanations given to us:

i. the Company does not have any pending litigations which would impact its financialposition;

ii. the Company did not have any long-term contracts including derivative contracts assuch the question of commenting on any material foreseeable losses thereon does not arise;

iii. There were no amounts required to be transferred to the Investor Education andProtection Fund by the Company.

forJ. K. Shah & Co.
Chartered Accountants
Firm's registration number:109606W
Sd/-
Sanjay Dhruva
Partner
Membership number: 038480
Place: Mumbai
Date: 28.05.2018

ANNEXURE - A TO THE AUDITORS' REPORT

The Annexure referred to in Independent Auditors' Report to the members of the Companyon the financial statements for the year ended 31st March 2018 we reportthat:

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

These fixed assets have been physically verified by the management at regular intervalconsidering the size of the Company and nature of assets. No material discrepancies havebeen noticed on such verification.

According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the Company does not have any immovableproperties.

(ii) The Company is trading and dealing in securities. The securities held in dematform have been verified with the demat statement and the securities held in physical formhave been physically verified with share certificate by the management at reasonableintervals during the year. According to the information and explanations given to us andon the basis of our examination of the records of the Company the discrepancies noticedon physical verification between physical stock and the book records were not material andhave been adequately dealt with in the books of account.

(iii) The Company has granted loans to the companies firms Limited LiabilityPartnerships or other parties covered in the register maintained under section 189 of theAct. The terms and conditions thereof are not prejudicial to the interest of the Company.The principal and the interest have been paid as stipulated and there has been no overduein respect of principal and interest.

(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 investments made.

(v) In our opinion and according to the information and explanations given to us theCompany during the year has not accepted the deposits from the public.

(vi) According to the information and explanations given to us the Central Governmenthas not prescribed maintenance of cost records under section (1) of section 148 of theCompanies Act 2013 with respect to the Company.

(vii) a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted / accrued in the books ofaccount in respect of undisputed statutory dues including Income tax have been regularlydeposited during the year by the Company with the appropriate authorities. According tothe information and explanations given to us no undisputed amounts payable in respect ofsuch statutory dues were in arrears as at 31st March 2018 for a period of morethan six months from the date they became payable.

b) According to information and explanation given to us there are no disputed dueswith statutory authorities

(viii) The Company does not have any loans or borrowings from any financialinstitution banks

(viii) The Company does not have any loans or borrowings from any financialinstitution banks government or debenture holders during the year.

(ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year.

(x) According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit for the year.

(xi) According to the information and explanations give to us and based on ourexamination of the records of the Company the company has not paid / provided anyManagerial Remuneration and accordingly the requisite approvals mandated by the provisionsof section 197 read with Schedule V to the Act are not required.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a Nidhi company. Accordingly Clause (xii) of the Order is not applicable

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has made preferentialallotment/private placement of 5000000 equity shares of Rs. 10/- each fully paid upduring the year. The requirements as specified in Section 42 of the Companies Act 2013have been complied with by the Company and the amount raised by the Company has beenutilized for the purposes for which the funds were raised and unused funds have beendisclosed as required by the relevant requirements.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him.

(xvi) On the basis of examination of relevant records and according to the informationand explanations given to us the Company is required to be registered under section 45-IAof the Reserve Bank of India Act 1934 and holds a valid certificate of registration underthe same.

for
J. K. Shah & Co.
Chartered Accountants
Firm's registration number : 109606W
Sd/-
Sanjay Dhruva
Partner
Membership number: 038480
Place: Mumbai
Date: 28.05.2018

ANNEXURE B TO THE AUDITORS' REPORT

Report on the Internal Financial Controls under Clause (i) of Sub-section (3) ofSection 143 of the Companies Act 2013 (“the Act”)

We have audited the internal financial controls over financial reporting of VantageCorporate Services Limited (“the Company”) as of March 31 2018 in conjunctionwith our audit of the financial statements of the Company for the year ended on 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'). 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 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.

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 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 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.

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 J. K. Shah & CO.

Chartered Accountants Firm's registration number:109606W

Sd/-

Sanjay Dhruva

Partner

Membership number: 038480

Place: Mumbai

Date: 28.05.2018

Independent Auditors' Report on the Financial Results of the Vantage Corporate ServicesLimited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements)Regulations2015.

To

The Board of Directors Vantage Corporate Services Limited

Mumbai India.

We have audited the accompanying Statement of Financial Results of Vantage CorporateServices Limited (“the Company”) for the quarter and year ended 31stMarch 2018(“the Statement”) attached herewith being submitted by the companypursuant to the requirement of the Regulation 33 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 as modified by Circular No. CIR/CFD/FAC/62/2016dated July 5 2016.

This Statement is the responsibility of the company's Management and approved by theBoard of Directors. The Statement as its related to the quarter ended 31stMarch 2018 has been compiled from the related interim financial statements which havebeen prepared in with Accounting Standard 25 “ Interim Financial Reporting” andas its relates to the year ended 31st March 2018 has been compiled from therelated annual financial statements prepared in accordance with the Accounting Standardsprescribed under Section 133of the Companies Act 2013 read with the relevant rules issuedthere under and other accounting principles generally accepted in India. Ourresponsibility is to express an opinion on the Statement based on our audit of suchfinancial statements.

We have conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the Statement is free from material misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and the disclosures in theStatement. The procedures selected depend on the auditor's judgement including theassessment of the risk of material misstatement of the Statement whether due to fraud orerror. In making those risk assessments the auditors considers internal control relevantto the Company's preparation and fair presentation of the Statement in order to designaudit procedure that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on the effectiveness of the Company's internal control. An auditalso includes evaluating the appropriateness of the accounting principles used and thereasonableness of the significant accounting estimates made by the Management as well asevaluating the overall presentation of the Statement. We believe that the audit evidencewe have obtained is sufficient and appropriate to provides a basis for our audit opinion.In our opinion and to the best of our information and according to the explanations givento us the Statement;

i. is presented in accordance with the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 as modified by CircularNo. CIR/CFD/FAC/62/2016 dated July 5 2016; and

ii. give a true and fair view in conformity with the aforesaid Accounting Standards andother accounting principles generally accepted in India of the profit and other financialinformation of the Company for the quarter and year ended 31st March 2018.

The Statement includes the results for the Quarter ended 31st March 2018being the balancing figure between audited figures in respect of the full financial yearand the published year to date figures up to the third quarter of the current financialyear which were subject to Limited Review.

For J K Shah & Co
Chartered Accountants
Firm's Registration No. : 109606W
Sd/-
Sanjay Dhruva
Partner
Membership No. 038480
Place: Mumbai
Date: 28/05/2018