You are here » Home » Companies » Company Overview » Catvision Ltd

Catvision Ltd.

BSE: 531158 Sector: Others
NSE: N.A. ISIN Code: INE660B01011
BSE 00:00 | 30 Oct 5.05 -0.23
(-4.36%)
OPEN

5.54

HIGH

5.54

LOW

5.05

NSE 05:30 | 01 Jan Catvision Ltd
OPEN 5.54
PREVIOUS CLOSE 5.28
VOLUME 160
52-Week high 8.82
52-Week low 4.94
P/E
Mkt Cap.(Rs cr) 3
Buy Price 5.05
Buy Qty 60.00
Sell Price 5.54
Sell Qty 107.00
OPEN 5.54
CLOSE 5.28
VOLUME 160
52-Week high 8.82
52-Week low 4.94
P/E
Mkt Cap.(Rs cr) 3
Buy Price 5.05
Buy Qty 60.00
Sell Price 5.54
Sell Qty 107.00

Catvision Ltd. (CATVISIONLTD) - Auditors Report

Company auditors report

The Members of Catvision Limited

Report on the Audit of the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statementsof CATVISION LIMITED ("the Company") which comprises of the Balance Sheet as at31st March 2019 the Statement of Profit and Loss the Statement of Changes inEquity and the Statement of Cash Flows for the year then ended and summary of thesignificant information (hereinafter referred to as "the standalone Ind AS financialstatements')..

Management's Responsibility for the Standalone Ind AS FinancialStatements

The Company's Board of Directors is responsible for the matters inSection 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone Ind AS financial statements that give a true and fair viewof the state of affairs profit/loss comprehensive income) changes in equity and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Accounting Standards (Ind AS) prescribed under Section 133 of theAct.

This responsibility also includes the maintenance of adequateaccounting records in accordance with the provision of the Act for safeguarding of theassets of the Company and for preventing and detecting the 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 control that were operating effectively andcompleteness of the accounting records relevant to the preparation and presentation ofthe Ind AS financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error. In preparing the financial statementsmanagement is responsible for assessing the Company's ability to continue as a goingconcern disclosing as applicable matters related to going concern and using the goingconcern basis of accounting unless management either intends to liquidate the Company orto cease operations or has no realistic alternative but to do so.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone Ind ASfinancial statements based on our audit.

We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditingspecified under section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and disclosures in the financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of materialmisstatement of the standalone Ind AS financial statements whether due to fraud or error.

In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the financial statementsthat give true and fair view in order to design audit procedures that are appropriate inthe circumstances.

An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by Company'sBoard of Directors as well as evaluating the overall presentation of the standalone IndAS financial statements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion on the standalone Ind ASfinancial statements.

Opinion

In our opinion and to the best of our information and according to theexplanations 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 its loss its changes in equity and cashflows for the year ended on March 31 2019.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order 2016("theOrder") issued by the Central Government in terms of Section 143(11) of the Act wegive in the "Annexure 1" a statement on the matters specified in the paragraph 3and 4 of the Order to the extent applicable.

2. As required by section 143(3) of the Act we report that:

a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

b) In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books and properreturns adequate for the purposes of our audit have been received from branches notvisited by us.

c) The accounts of the branch offices of the Company have been auditedby us.

d) The Balance Sheet the Statement of Profit and Loss and the CashFlow Statement dealt with by this Report are in agreement with the books of account.

e) In our opinion the aforesaid standalone Ind AS financial statementscomply with the Accounting Standards specified under Section 133 of the Act asapplicable.

f) In our opinion the financial statements of the Company have beenprepared on a going concern basis no transaction have an adverse effect on thefunctioning of the Company.

g) On the basis of written representations received from disqualifiedthe directorsnone of the directors as on 31st March 2019 from beingappointed as a director in terms of Section 164(2) of the Act.

h) With respect to the adequacy of the internal financial controls overfinancial reporting of the company and the operating effectiveness of such controls referto our separate report in "Annexure II" to this report.

i) With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 and to the best of our information and according to the explanations given tous

i. The Company has disclosed the impact of pending litigations whichwould impact its financial position in the standalone Ind AS financial statements - ReferPara vii(b) of Annexure 1.

ii. The Company did not have any long-term contracts includingderivatives contracts for which there were any material foreseeable losses.

For Agrawal and Gaur
Chartered Accountants
FRN: 010550N
Pavan Kumar Agrawal
Place : Noida Partner
Date : 28th May 2019 Membership No. 085376

"Annexure 1"referred to in our report of even date"Report on other legal & regulatory requirement" of our report even date

i. In respect of its fixed assets:

a) The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets on basis of availableinformation.

b) As explained to us all the fixed assets have been physically atregular intervals which in our opinion is reasonable having regard to the size of theCompany and nature of its assets. According to the information and explanation given to usno material discrepancies were noticed on such physical verification.

c) According to the information and explanation given to us and recordsexamined by us and based on the examination of the title deeds of immovable propertiesincluded in fixed are held in the name of the Company as at the balance sheet date.

ii. In respect of its inventories:

a) The inventories have been physically verified during the year by themanagement at reasonable intervals and no material discrepancies were noticed on physicalverification.

b) In our opinion and according to the information and explanationsgiven to us the procedures of physical verification of inventories followed by themanagement are reasonable and adequate in relation to the size of the Company and thenature of its business.

c) The Company has maintained proper records of inventories. As per theinformation and explanation given to us no material discrepancies were noticed onphysical verification.

iii. According to the information and explanations given to us thecompany has not granted any loans secured or unsecured to companies firms and limitedliability partnerships or other parties covered in the registered maintained under section189 of the Act .

iv. In our opinion and according to the information & explanationgiven to us there are no loans guarantees and securities granted in respect of whichprovision of Section 185 & 186 of the Act however company has made investment in itsIndian Joint Venture and in its foreign Joint Venture in accordance with the provision ofthe Act.

v. According to the information and explanations given to us theCompany has accepted deposit from the shareholders of the Company. Necessary compliance ofdirectives issued by the Reserve Bank of India and the Act and Rules made there under hasbeen complied with.

vi. The company is registered under MSMED Act 2006 thereforemaintenance of cost records is not required as per Rule 3 of the Companies (Cost Recordsand Audit) Rules 2014 by the management

vii. In respect of statutory dues:

a) According to the information and explanations given to usundisputed statutory dues including Provident Fund Employees' State InsuranceIncomeTax Goods and Service Tax Cess and other material statutory dues have been regularlydeposited with the appropriate authorities. No undisputed amounts payable in respect ofthe aforesaid dues were outstanding as at March 31 2019 for a period of more than sixmonths from the date of becoming payable.

b) According to the records of the Company the dues of Income Taxoutstanding on account of dispute which has not been deposited on account of disputes ason March 31 2019 are given below:

Name of Statute Nature of Dues Forum Where dispute is pending Period to which the amount relates Amount Involved Amount Unpaid
Income Tax Act 1961 Income Tax ITAT AY 2014-15 400810/- 400810/-

viii. In our opinion and according to the information and explanationgiven by the management the Company has not defaulted in repayment of bank dues.

ix. According to the information and explanation given by themanagement the Company has not raised any money by way of Initial Public offer/furtherpublic offer (including debt instruments).

x. During the course of our examination of the books and records of theCompany carried out in accordance with the generally accepted auditing practices in Indiaand according to the information and explanations given to us no instances of fraud bythe Company or any fraud on the Company by its officers or employees have been noticed orreported during the year.

xi. According to the information & explanation given by themanagement managerial remuneration has been paid/provided in accordance with requisiteapprovals mandated by the provision of Section 197 read with Schedule V to the CompaniesAct 2013.

xii. In our opinion the Company is not Nidhi Company therefore theprovision of clause (xii) of the Order is not applicable.

xiii. According to the information & explanation given by themanagement transactions with the related parties are in compliance with section 177 and188 of the Act where applicable and the details have been disclosed in the notes to thefinancialstatements as required by the applicable Accounting Standards.

xiv. According to the information & explanation given to us and onan overall examination of the balance sheet the Company has not made any preferentialallotment or private placement of share or fully or partly convertible debentures duringthe year under review and hence reporting requirements under clause (xiv) of the Order isnot applicable to the company and not commented upon.

xv. According to the information & explanation given by themanagement the Company has not entered into any non-cash transactions with directors orpersons connected with him as referred to Section 192 of the Companies Act 2013. xvi. TheCompany for ensuring is not the orderly required to be and efficient conductregistered under section 45-I A of the Reserve Bank of India Act 1934.

For Agrawal and Gaur
Chartered Accountants
FRN: 010550N
Pavan Kumar Agrawal
Place : Noida Partner
Date : 28th May 2019 Membership No. 085376

Annexure - II to the Auditors' Report Report on the InternalFinancial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act2013 ("the Act")

We have audited the internal financial controls over financialreporting of Catvision Limited ("the Company") as of 31st March 2019in conjunction with our audit of the standalone financial statements of the Company forthe year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting 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 of itsbusiness including adherence to company's policies the safeguarding of its assetsthe prevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company'sinternal financial controls over financial reporting based on our audit. We conducted ouraudit in accordance with the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting (the "Guidance Note") and the Standards on Auditing issuedby ICAI and deemed to be prescribed under section 143(10) of the Companies Act 2013 tothe extent applicable to an audit of internal financial controls both applicable to anaudit of Internal Financial Controls and both issued by the ICAI. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects. Our audit involves performing procedures to obtainaudit evidence about the adequacy of the internal financial controls system over financialreporting and their operating effectiveness. Our audit of internal financial controls overfinancial reporting included obtaining an understanding of internal financial controlsover financial reporting assessing the risk that a material weakness exists testing andevaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor's judgment includingthe assessment of the risks of material misstatement of the financial statements whetherdue to fraud or error. We believe that the audit evidence we have obtained is sufficientopinion 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 isa process designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial controlover financial reporting includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of thecompany;

(2) provide reasonable assurance that transactions are recorded asnecessary to permit preparation of financial statements in accordance with generallyaccepted accounting principles and that receipts and expenditures of the company arebeing made only in accordance with authorizations of management and directors of theCompany; and

(3) provide reasonable assurance regarding prevention or timelydetection of unauthorized acquisition use or disposition of the company's assetsthat could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion and to the best of our information and according to theexplanations given to us 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 st March 2019 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 Agrawal and Gaur
Chartered Accountants
FRN: 010550N
Pavan Kumar Agrawal
Place : Noida Partner
Date : 28th May 2019 Membership No. 085376

.