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Beryl Securities Ltd.

BSE: 531582 Sector: Financials
NSE: N.A. ISIN Code: INE508J01015
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NSE 05:30 | 01 Jan Beryl Securities Ltd
OPEN 8.63
PREVIOUS CLOSE 8.63
VOLUME 321
52-Week high 16.65
52-Week low 6.68
P/E 12.51
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.63
CLOSE 8.63
VOLUME 321
52-Week high 16.65
52-Week low 6.68
P/E 12.51
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Beryl Securities Ltd. (BERYLSECURITIES) - Auditors Report

Company auditors report

To

The Members of

Beryl Securities Limited

Report on the Audit of the financial statements

Opinion

1. We have audited the accompanying financial statements of Beryl Securities Limited("the Company") which comprise the Balance Sheet as at 31 March 2021 theStatement of Profit and Loss (including other comprehensive income) the statement ofChanges 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 (hereinafter referred to as "the financial statements").

2. 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 theCompanies Act 2013 ("the Act") in the manner so required and give a true andfair view in conformity with the accounting principles generally accepted in India of thestate of affairs of the Company as at 31 March 2021its profit (including othercomprehensive income) changes in equity and its cash flows for the year ended on thatdate.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder Section 143(10) of the Act. Our responsibilities under those standards are furtherdescribed in the Auditor's Responsibilities for the Audit of the financial statementssection of our report. We are independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act 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 sufficient and appropriate to provide a basisfor our opinion on the financial statements.

Emphasis of Matters

4. We draw attention to Note 42 of the financial statements which describes that TheCompany has paid advance against purchase of one residential flat at Jaypee Greens NoidaRs. 3319967/- and one flat at Sohna Haryana Rs. 2404163/- & a plot at R.R.Industrial Park Indore Rs. 2000000/- in earlier years. But the possession and registryof said properties were pending till 31st March 2021. Thus the amount has been shown asCapital advance as per Note 9. Management has opined the said Capital Advance as good andrecoverable.

Key Audit Matters

5. Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements for the financial year ended 31stMarch 2021. These matters were addressed in the context of our audit of the financialstatements as a whole and in forming our opinion on these matters and we do not providea separate opinion on these matters.

We have determined that there are no key audit matters to be communicated in ourreport.

Information other than the financial statements and Auditor's Report thereon

6. The Company's management and Board of Directors are responsible for the otherinformation. The other information comprises the information included in the Company'sannual report but does not include the Financial Statements and our auditors' reportthereon. Our opinion on the Financial Statements does not cover the other information andwe do not express any form of assurance conclusion thereon.

In connection with our audit of financial statements our responsibility is to read theother information and in doing so consider whether the other information is materiallyinconsistent with the Financial Statements or our knowledge obtained in the audit orotherwise appears to be materially misstated. If based on the work we have performed weconclude that there is a material misstatement of this other information; we are requiredto report that fact. We have nothing to report in this regard.

Management's Responsibility for the financial statements

7. The Company's management and Board of Directors are responsible for the mattersstated in Section 134(5) of the Act with respect to the preparation of these FinancialStatements that give a true and fair view of the financial position financial performanceincluding other comprehensive income changes in equity and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Ind AS) specified under Section 133 of the Act read with thecompanies (Indian Accounting Standards) rules 2015 as amended. This responsibility alsoincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of adequate internal financial controls that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the Financial Statements that give a true and fairview and are free from material misstatement whether due to fraud or error.

8. In preparing the financial statements management and Board of Directors areresponsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless Board of Directors and management either intends to liquidatethe Company or to cease operations or has no realistic alternative but to do so. Board ofDirectors is also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the financial statements

9. 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.

10. As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Under Section 143(3)(i)of the Act we are also responsible for expressing our opinion on whether the company hasadequate internal financial controls with reference to Financial Statements in place andthe operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe Financial Statements or if such disclosures are inadequate to modify our opinion.Our conclusions are based on the audit evidence obtained up to the date of our auditors'report. However future events or conditions may cause the Company to cease to continue asa going concern.

• Evaluate the overall presentation structure and content of the financialstatements including the disclosures and whether the Financial Statements represent theunderlying transactions and events in a manner that achieves fair presentation.

11. We communicate with those charged with governance regarding among other mattersthe planned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

12. We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

13. From the matters communicated with those charged with governance we determinethose matters that were of most significance in the audit of the Financial Statements ofthe current period and are therefore the key audit matters. We describe these matters inour auditors' report unless law or regulation precludes public disclosure about the matteror when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

14. The Balance Sheet and the Profit & Loss Account have been drawn up inaccordance with the provision of Section 133 of the Act read with rule 7 of the CompaniesRules 2014 (as amended).

15. As required by the Companies (Auditors' Report) Order 2016 ("the Order")issued by the Central Government of India in terms of Section 143(11) of the Act we givein the "Annexure A" a statement on the matters specified in paragraphs 3and 4 of the Order to the extent applicable.

16. With respect to the matter to be included in the Auditors' Report under section197(16) we report that In our opinion and according to the information and explanationgiven to us the remuneration paid by the Company to its directors during the current yearis in accordance with the provisions of Section 197 read with Schedule V of the Act.

17. (A) As required by Section 143(3) of the Act based on our Audit we report to theextent applicable 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 and the Statement of Profit and Loss (including othercomprehensive income) statement of changes in equity and statement of cash flows dealtwith by this Report are in agreement with the books of account .

(d) In our opinion the aforesaid Financial Statements comply with the Ind AS specifiedunder Section 133 of the Act.

(e) On the basis of the written representations received from the directors as on 31March 2021 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 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 with reference toFinancial Statements of the Company and the operating effectiveness of such controlsrefer to our separate Report in "Annexure B" to this report.

(B) With respect to the other matters to be included in the Auditors' Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations as at 31st March 2021 onits financial position in its financial statements- Refer Note 27 to the financialstatements;

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses as at 31st March 2021;

iii. There were no amounts which were required to be transferred to the investoreducation & protection fund by the company.

For PRATEEK JAIN & CO.
CHARTERED ACCOUNTANTS
FRN - 009494C
Date : 30/06/2021 [PRATEEK JAIN]
Place : Indore PROPRIETOR
M.No. 079214
UDIN- 21079214AAAABJ3190

ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 15 under ‘Report on Other Legal and RegulatoryRequirements' section of our Report of even date for Beryl Securities Limited for the yearended 31st March 2021)

1. In respect of its fixed assets:

• The Company has maintained adequate records showing full particulars includingquantitative details and situation of fixed assets.

• As explained to us all the items of property plant and equipment have beenphysically verified by the management in a phased periodical manner which in our opinionis reasonable having regard to the size of the Company and nature of its assets. Nomaterial discrepancies were noticed on such physical verification.

• The Company does not have any immovable property therefore the requirement ofthis sub-clause is not applicable to the Company.

2. Inventory

The nature of the Company is such that it is not required to hold any inventories andas such matters specified in clause 3(ii) of the order is not applicable.

3. Loan given by company

According to the information and explanations given to us the company has not grantedany loans secured or unsecured to companies firms limited liability partnerships orother parties covered in the register maintained under Section 189 of the Companies Act2013 ("the Act") in during the year. Accordingly the provisions of clause 3(iii) (a) (b) and (c) of the order are not applicable to the Company.

4. Loan to directors and investment by the company

In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of sections 185 & 186 of the Companies Act2013 with respect to the Loans & Investments made.

5. Deposits

According to the information and explanations given to us the Company has not acceptedany deposits under sections 73 & 76 or any other relevant provision of companies act("the act") and the rule framed there under. Therefore the provisions of Clause3(v) of the Order is not applicable to the Company.

6. Cost records

The Central Government has not prescribed maintenance of cost records to the companypursuant to the Companies (Cost Records and Audit) Rules 2014 as amended by sub section(1) of Section 148 of the Companies Act 2013.

7. Statutory dues

• According to the information and explanations given to us and on the basis ofour examination of the records of the company all undisputed statutory dues have beengenerally regularly deposited with the appropriate authorities.

• According to the information and explanations given to us and on the basis ofour examination of the records of the Company no undisputed amount payable in respect ofthe aforesaid dues were outstanding as at March 31 2021 for a period of more than sixmonths from the date of they became payable except the following:

Sr. No. Nature of the Statute Nature of Dues Amount Period (F.Y.)
1 Goods & Services Tax Act GST 9000/- 2017-18
2 Service Tax Act Service Tax 7500/- 2016-17
3 Professional Tax Act Professional Tax 47500/- 1999-2000 to 2016-17
4 Income Tax Act Income Tax Demand 26400/- 2005-06
5 Income Tax Act Income Tax Demand 13702/- 2009-10
6 Wealth Tax Act Wealth Tax 116568/- Up to 2015-16

• According to the information and explanations given to us there are nostatutory dues which have not been deposited by the Company on account of disputes exceptthe following:

Sr. No. Nature of the Statute Nature of Dues Amount in (Rs.) Period to which the amount relates (F.Y.) Forum where dispute is pending
1 Income Tax Act Income Tax 234974/- 2005-2006 IT Department Indore
2 Income Tax Act Income Tax 456245/- 2007-2008 CIT A(1) Indore
3 Income Tax Act Income Tax 12570/- 2009-2010 IT Department Indore
4 Income Tax Act Income Tax 12230/- 2010-2011 CPC Bengaluru
5 Income Tax Act Income Tax 1560/- 2013-2014 CPC Bengaluru
6 Income Tax Act Income Tax 15450/- 2014-2015 CPC Bengaluru
7 Income Tax Act Income Tax 80/- 2017-2018 CPC Bengaluru

TDS Defaults on traces:

Financial Year Amount in (Rs.)
2020-21 3744/-
2017-18 415/-
2014-15 130/-
2011-12 280/-
2010-11 12950/-
2009-10 4180/-
2008-09 190/-
2007-08 120/-
Total Demand 22009/-

8. Repayments of loans

According to the information and explanations given to us the company has no loans orborrowings payable to any financial institutions or banks or Government and no duespayable to debenture holders during the year. Accordingly the provisions of clause3(viii) of the Order are not applicable.

9. Utilization of funds

During the year The Company has not raised money by way of initial public offer orfurther public offer (including debt instruments). The Company did not have any term loansoutstanding during the year. Accordingly the provisions of clause 3(ix) of the Order arenot applicable.

10. Reporting of frauds

According to the information and explanations given to us no material fraud on or bythe Company or on the Company by its Officers or Employees has been noticed or reportedduring the year under audit.

11. Approvals of managerial remuneration

According to the information and explanations give to us and based on our examinationof the records of the Company the Company has paid/provided for managerial remunerationin accordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Act.

12. Nidhi company

• In our opinion the company is not a Nidhi Company as prescribed under Section406 of the Act. Therefore the provisions of clause 3(xii) of the order are not applicableto the company.

13. Related party transaction

• 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 applicableIndian accounting standards.

14. Private Placement or preferential allotment

• According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Accordingly the Clause 3(xiv) of the order is not applicable to the Company.

15. Non cash transaction

According to the information and explanations given to us and based on our examinationof the records of the Company the Company has not entered into non-cash transactions withits directors or persons connected with him.

16. Registration of Reserve Bank of India (RBI) Act 1934

The Company is a NBFC Company registered under section 45-IA of the Reserve Bank ofIndia Act 1934 vide registration No. 03.00040 dated 03/03/1998 in category Non BankingFinancial Institution (Non Deposit taking Company) and accordingly the company iscarrying on financial services business.

For : PRATEEK JAIN & CO.
CHARTERED ACCOUNTANTS
FRN - 009494C
Date : 30/06/2021 [PRATEEK JAIN]
Place : Indore PROPRIETOR
M.No. 079214
UDIN- 21079214AAAABJ3190

ANNEXURE 'B' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 17(A)(f) under ‘Report on Other Legal and RegulatoryRequirements' of our report of even date of Beryl Securities Limited for the year ended31st March 2021)

REPORT ON THE INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING UNDER CLAUSE

(i) OF SUB SECTION 3 OF SECTION 143 OF THE COMPANIES ACT 2013 ("THE ACT")

We have audited the internal financial controls over financial reporting of BerylSecurities Limited ("the Company") as of 31st March 2021 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 Reporting (the"Guidance Note") issued by the Institute of Chartered Accountants of India("ICAI"). These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business including adherence toCompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information 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 deemed tohave been 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 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 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 31st March 2021 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 ("ICAI") .

For : PRATEEK JAIN & CO.
CHARTERED ACCOUNTANTS
FRN - 009494C
Date : 30/06/2021 [PRATEEK JAIN]
Place : Indore PROPRIETOR
M.No. 079214
UDIN- 21079214AAAABJ3190

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