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CCL International Ltd.

BSE: 531900 Sector: Others
NSE: N.A. ISIN Code: INE778E01031
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NSE 05:30 | 01 Jan CCL International Ltd
OPEN 9.40
PREVIOUS CLOSE 9.40
VOLUME 2
52-Week high 19.10
52-Week low 5.95
P/E 8.95
Mkt Cap.(Rs cr) 18
Buy Price 10.00
Buy Qty 250.00
Sell Price 9.40
Sell Qty 88.00
OPEN 9.40
CLOSE 9.40
VOLUME 2
52-Week high 19.10
52-Week low 5.95
P/E 8.95
Mkt Cap.(Rs cr) 18
Buy Price 10.00
Buy Qty 250.00
Sell Price 9.40
Sell Qty 88.00

CCL International Ltd. (CCLINTER) - Auditors Report

Company auditors report

To

The Members of

CCL INTERNATIONAL LIMITED

1. Report on the Audit of the Standalone IND AS Financial Statements:

We have audited the accompanying Standalone Ind AS Financial statements of CCLInternational Limited ("the Company") which comprise the Balance Sheet as atMarch 312018 the Statement of Profit and Loss (including Other Comprehensive Income)the Statement of changes in Equity and Statement of Cash Flows for the year then ended anda summary of significant accounting policies and other explanatory information (hereinafter referred to as "Standalone Ind As financial statements").

2. Management's Responsibility for the Standalone IND AS Financial Statements

The Company's Board of Directors are 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 the stateof affairs profit/loss (including Other Comprehensive Income) changes in equity and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Indian Accounting Standards ("Ind AS") prescribed underSection 133 of the Act.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and effectively design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe Standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

3. Auditors' Responsibility

Our responsibility is to express an opinion on these Standalone Ind As financialstatements based on our audit. We have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be

included in the audit report under the provisions of the Act and the Rules madethereunder.

We conducted our audit of the Standalone Ind AS financial statements in accordance withthe Standards on Auditing specified under section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders 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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's management and Board ofDirectors as well as evaluating the overall presentation of 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 standalone Ind AS financial statement.

4. Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the Standalone Ind AS financial statements give the information required bythe Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India including the Ind AS of the state ofaffairs of the Company as at March 312018 its Profit (including Other ComprehensiveIncome) its changes in equity and its cash flows for the year ended on that date.

5. Other Matters:

The comparative financial information of the

company for the year ended 31st March 2017 and Transition date opening balance sheetas on 1st April 2016 included in these Standalone Ind AS financial statements are basedon the previously issued statutory financial statements prepared in accordance with theCompanies (Accounting Standards) Rules 2006 audited by the then auditors as on 31stMarch 2017 and 1st April 2016 and their reports for the year ended 31st March 2017 and31st March 2016 dated 30th May 2017 and 30th May 2016 respectively expressed unmodifiedopinion on those financial statements.

6. Report on Other Legal and Regulatory Requirement

i. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Government of India in terms of sub-section (11) of Section 143 of the Actwe give in the "Annexure-A" a statement on the matters specified in paragraphs 3and 4 of the Order to the extent applicable.

ii. As required by Section 143(3) of the Act 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 purpose 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 the statement of changes inEquity and Statement of Cash Flow dealt with by this Report are in agreement with thebooks of account;

d. In our opinion the aforesaid standalone Ind AS financial statements comply with theIndian Accounting Standards specified under Section 133 of the Companies Act 2013.

e. On the basis of written representations received from the directors as on March 312018 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2018 from being appointed as a director in terms of Section 164(2) of theAct.

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 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 does not have any litigation on its financial position.

ii. The Company has not made provision as required under the applicable law oraccounting standards for material foreseeable losses if any on long-term contractsincluding derivative contracts.

iii. The company was not required to deposit or pay any dues in respect of the InvestorEducation and Protection Fund during the year.

For KPMC & Associates Chartered Accountant Firm Reg. No. 005359C

Sd/-
Date: 30.05.2018 (Sanjay Mehra)
Partner
Place: Ghaziabad M No. 075488

The Annexure-A referred to in our Independent Auditors' Report to the members of thecompany on the Standalone Ind AS financial statements for the year ended March 312018 wereport that:

1. In respect of Fixed Assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situations of Fixed Assets.

b. The fixed assets have been physically verified by the management during the year andno material discrepancies were noticed on such verification. In our opinion the frequencyof verification of the fixed assets is reasonable having regard to the size of the Companyand the nature of its assets.

c. The title deeds of all the immovable properties (which are included under the head'fixed assets') are held in the name of the Company.

2. In respect of Inventory:

a. The management has conducted physical verification of inventory at reasonableintervals during the year.

b. The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c. The Company is maintaining proper records of inventory and no material discrepanciesbetween physical inventory and book records were noticed on physical verification.

3. The Company has not granted any loan secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Act.

4. According to information and explanations given to us the Company has not grantedany loans or provided any guarantees or security to the parties covered under Section 185of the Act. The Company has complied with the provisions of Section 186 of the Act inrespect of investments made or loans or guarantee or security provided to the partiescovered under Section 186.

5. The Company has not accepted any deposits

within the meaning of Sections 73 to 76 of the Act and the rules framed thereunder.

6. According to the information and explanations given to us pursuant to the rulesprescribed by the Central Government for the maintenance of cost records under section148(1) of the Companies Act 2013 we have broadly reviewed the cost records a n d a r e of t he o p inion that prima facie the prescribed records have been made and maintained bythe Company.

7.

(i) According to the information and explanations given to us and on the basis ofexamination of the records of the Company the Company is generally regular in depositingundisputed statutory dues including income tax tds sales tax service tax goods andservice tax duty of customs duty of excise value added tax cess and any other materialstatutory dues as applicable to the appropriate authorities have generally been regularlydeposited during the year by the Company with the appropriate authorities.

(ii) According to the information and explanations given to us no undisputed statutorydues in respect of income tax tds sales tax service tax goods and service tax duty ofcustoms duty of excise value added tax cess and other material statutory were inarrears as at 31st March 2018 for a period of more than six months from the date theybecame payable.

8. According to the information and explanations given to us the Company has notdefaulted in repayment of dues to bankers & financial institutions. The Company doesnot have issued any debentures.

9. According to the information and explanations given to us the Company has notraised any moneys by way of initial public offer or further public offer (including debtinstruments). In our opinion the term loans availed during the year were applied for thepurposes for which the loans were obtained.

10. To the best of our knowledge and according to the information and explanation givento us no fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the period covered by our audit.

11. According to the information and explanations given to us and based on ourexamination of records of the company the company has paid managerial remuneration inaccordance with the provisions of section 197 read with Schedule V to the Companies Act2013.

12. According to the information and explanations given to us the company is not NidhiCompany as

prescribed under Section 406 of the Act.

13. According to the information and explanations given to us and based on ourexamination of records of the company all transactions with the related parties are incompliance with sections 177 and 188 of Companies Act 2013 where ever applicable and thedetails of such transactions have been disclosed in the Ind AS financial statements asrequired by the applicable accounting standards.

14. According to the information and explanations given to us and based on ourexamination of records of the company the Company has not made any preferential allotmentor private placement of shares or fully or partly convertible debentures during the year.

15. According to the information and explanations given to us and based on ourexamination of records of the company the company has not entered into any non-cashtransactions with directors or persons connected with them.

16. According to the information and explanation given to us the Company is notrequired to be registered under section 45-IAof the Reserve Bank of India Act 1934.

For KPMC & Associates Chartered Accountant Firm Reg. No. 005359C

Sd/-
(Sanjay Mehra)
Date: 30.05.2018 Partner
Place: Ghaziabad M No. 075488

(Referred to in paragraph 6(ii) (f) under 'Report on Other Legal and RegulatoryRequirements' section of our report of even date)

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of CCLInternational Limited

("the Company") as of 31st March 2018 in conjunction with our audit of theStandalone Ind AS 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 controlsstated in the Guidance Note on Audit of

Internal Financial Controls Over Financial Reporting (the "Guidance Note")issued by the Institute of Chartered Accountants of India (the "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. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls overfinancial reporting were established and maintained and if such controls operatedeffectively 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

generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that:-

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial 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 31st March2018 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 I ndia.

For KPMC & Associates Chartered Accountant Firm Reg. No. 005359C

Sd/-
(Sanjay Mehra)
Date: 30.05.2018 Partner
Place: Ghaziabad M No. 075488