You are here » Home » Companies » Company Overview » Chartered Capital & Investment Ltd

Chartered Capital & Investment Ltd.

BSE: 511696 Sector: Financials
NSE: N.A. ISIN Code: INE953B01010
BSE 00:00 | 19 Mar 56.60 0
(0.00%)
OPEN

56.60

HIGH

56.60

LOW

56.60

NSE 05:30 | 01 Jan Chartered Capital & Investment Ltd
OPEN 56.60
PREVIOUS CLOSE 56.60
VOLUME 2
52-Week high 64.65
52-Week low 48.80
P/E 41.31
Mkt Cap.(Rs cr) 17
Buy Price 59.50
Buy Qty 50.00
Sell Price 59.40
Sell Qty 200.00
OPEN 56.60
CLOSE 56.60
VOLUME 2
52-Week high 64.65
52-Week low 48.80
P/E 41.31
Mkt Cap.(Rs cr) 17
Buy Price 59.50
Buy Qty 50.00
Sell Price 59.40
Sell Qty 200.00

Chartered Capital & Investment Ltd. (CHARTERCAPITAL) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF CHARTERED CAPITAL AND INVESTMENT LIMITED Report on the Ind ASFinancial Statements

We have audited the accompanying Ind AS financial statements of CHARTERED CAPITALAND INVESTMENT LIMITED (‘the Company’) which comprise the Balance Sheet asat 31st March 2018 and the Statement of Profit and Loss (including OtherComprehensive Income) the Cash Flow Statement and the Statement of Changes in Equity forthe year then ended and a summary of the significant accounting policies and otherexplanatory information.

Management’s Responsibility for the 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 Ind AS financial statements that give a true and fair view of the financialposition financial performance including other comprehensive income cash flows andchanges in equity of the Company in accordance with the Indian Accounting Standards(‘Ind AS’)prescribed under Section 133 of the Act read with the Companies(Indian Accounting Standard) Rules 2015 as amended and other accounting principlesgenerally accepted in India.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the Ind ASfinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these Ind AS financial statements basedon our audit.

In conducting 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 theaudit report under the provisions of the Act and the Rules made there under and orderissued under section 143(11) of the Act.

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

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Ind AS financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe Ind AS financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial controls relevant to theCompany’s preparation of the Ind AS financial statements that give a true and fairview in order to design audit procedures that are appropriate in the circumstances. Anaudit also includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company’s Directors as wellas evaluating the overall presentation of the Ind AS financial statements.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid 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 the IndAS and other accounting principles generally accepted in India of the state of affairs ofthe Company as at 31st March 2018 and its profit total comprehensive incomeits cash flows and the changes in equity for the year ended on that date.

Other Matters

The comparative financial information of the Company for the year ended 31st March2017 and the transition date opening Balance Sheet as at 1st April 2016 included in theseInd AS financial statements are based on the previously issued statutory financialstatements prepared in accordance with the Companies(Accounting Standards) Rules 2006audited by the predecessor auditor whose report for the year ended 31st March 2017 and31st March 2016 dated 30th May 2017 and 26th May 2016 respectively expressed anunmodified opinion on those financial statements as adjusted for the differences in theaccounting principles adopted by the Company on transition to the Ind AS which have beenaudited by us.

Our opinion on the Ind AS financial statements and our report on Other Legal andRegulatory Requirements below is not modified in respect of these matters.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of Section 143(11) of theAct we give in the "Annexure A" a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. 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 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 including Other ComprehensiveIncome the Cash Flow Statement and Statement of Changes in Equity dealt with by thisreport are in agreement with the relevant books of account;

d) In our opinion the aforesaid Ind AS financial statements comply with the IndianAccounting Standards prescribed under Section 133 of the Act;

e) On the basis of the written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31stMarch 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 Ind AS financial statements -Refer Note 32 to the financial statements.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For F P& Associates
Chartered Accountants
Firm Registration No: 143262W
F.S. SHAH
Ahmedabad Partner
May 30 2018 Membership No. 133589

ANNEXURE A TO THE INDEPENDENT AUDITOR’S REPORT (Referred to the paragraph 1 under"Report on Other Legal and Regulatory Requirements" section of our report ofeven date)

(i) (a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets;

(b) The fixed assets were physically verified during the year by the Management inaccordance with a regular programme of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals having regard to thesize of the company nature and value of its assets. According to the information andexplanation given to us no material discrepancies were noticed on such verification.

(c) In our opinion and according to information and explanations given to us and on thebasis of an examination of the records of the Company the title deeds of immovableproperties are held in the name of the Company.

(ii) As explained to us the Securities held as stock in trade have been verified by theManagement with the statement of holdings provided by depository participants and brokersat reasonable intervals which in our opinion is reasonable having regard to the size ofthe Company and nature of its business. No material discrepancies between the book recordsand the statement of holding provided by brokers and other depository participants werenoticed.

(iii) In our opinion and according to information & explanation given to us thecompany has not granted any loans secured or unsecured to companies _rms LimitedLiability Partnership or other parties covered in the register maintained under section189 of the Companies Act 2013.Accordingly the provisions of Clause (iii) of paragraph 3of the order are not applicable to the Company.

(iv) The Company has not granted any loans or provided any guarantees or security tothe parties covered under Section 185 of the Act. The Company has complied with theprovisions of Sections 186 of the Act in respect of investments made or loans orguarantees or security provided to the parties covered under Section 186.

(v) According to the information and explanations given to us the Company has notaccepted any deposit nor has any unclaimed deposit within the meaning of the provisions ofSections 73 to 76 or any other relevant provision of the Act and the rules framed thereunder. Accordingly the provisions of Clause (v) of paragraph 3 of the Order are notapplicable to the Company.

(vi) Company is engaged in service industries which are not covered by the Companies(Cost Records and Audit) Rules 2014. Accordingly the provisions of Clause (vi) ofparagraph 3 of the Order are not applicable to the company.

(vii) (a) According to the information and explanations given to us and the records ofthe Company examined by us in our opinion the Company is regular in depositing theundisputed statutory dues including Provident Fund Employees’ State InsuranceIncome Tax Sales Tax/ Value Added Tax Service Tax Customs Duty Excise Duty Cess andany other material statutory dues as applicable with the appropriate authorities.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of Provident Fund Employees’ State Insurance Income Tax SalesTax/ Value Added Tax Service Tax Customs Duty Excise Duty Cess and any other materialstatutory dues were in arrears as at 31st March 2018 for a period of more than six monthsfrom the date they became payable.

(c) According to the information and explanations given to us there are no dues ofIncome Tax Sales Tax Service Tax duty of customs duty of Excise Value Added Tax andcess which have not been deposited with the appropriate authorities on account of anydispute.

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted in the repayment of loans or borrowings to a bank. TheCompany does not have any loans or borrowings from financial institutions or governmentand has not issued any debentures.

(ix) The Company has not raised money by way of initial public offer or further publicoffer (including debt instruments) or term loans during the year. Accordingly theprovisions of Clause (ix) of paragraph 3 of the Order are not applicable to the Company.

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

(xi) In our opinion and according to the information and explanations given to usmanagerial remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of the Section 197 read with Schedule V to the Act(xii) In our opinion according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly the provisions of Clause (xii) of paragraph 3of the Order are 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 Act where applicable for alltransactions with the related parties and the details of related party transactions havebeen disclosed in the financial statements as required by the applicable Indian accountingstandards.

(xiv) According to the information and explanations given to us and based on ourexaminations 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.

(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 transaction with theDirectors or Persons connected with its Directors and covered under Section 192 of theAct. Accordingly the provisions of Clause (xv) of paragraph 3 of the Order are notapplicable to the Company.

(xvi) According to the information and explanations given to us the Company isexempted from registration under Section 45- IA of the Reserve Bank of India Act 1934.

For F P& Associates
Chartered Accountants
Firm Registration No: 143262W
F.S. SHAH
Ahmedabad Partner
May 30 2018 Membership No. 133589

ANNEXURE B TO THE INDEPENDENT AUDITOR’S REPORT (Referred to in paragraph 2(f)under "Report on Other Legal and Regulatory Requirements" section of our reportof even date)

Report on the Internal Financial Controls under Clause (i) of sub-section 3 of Section143of the Companies Act 2013 (the "Act")

We have audited the internal financial controls over financial reporting of CHARTEREDCAPITAL AND INVESTMENT LIMITED (the "Company")as of 31stMarch 2018in conjunction with our audit of the Ind AS financial statements of the Company for theyear 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 and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and eficient conduct of the Company’s business including adherence toCompany’s policies 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.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company’s Internal FinancialControl over Financial Reporting of the Company based on our audit. We conducted our auditin accordance with the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting (the "Guidance Note") issued by the Institute of Charteredaccountants of India and the Standards on Auditing prescribed under section 143(10) of theCompanies Act 2013 to the extent applicable to an audit of Internal Financial Controls.Those Standards and the Guidance Note require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate InternalFinancial Control over Financial Reporting was established and maintained and if suchcontrols 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 Control over Financial Reporting includedobtaining an understanding of Internal Financial Control 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 judgement 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 Controlsystem 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 Ind AS financial statements for external purposes in accordancewith generally accepted accounting principles.

A Company’s Internal Financial Control over Financial Reporting includes thosepolicies and procedures that:

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

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of Ind AS financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the

Company are being made only in accordance with authorizations of management anddirectors 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 havea material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of Internal Financial Controls system 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 Internal FinancialControls 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 to the best of our information and according to the explanations givento us the Company has in all material respects adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at 31stMarch 2018 based on thecriteria for internal financial controls over financial reporting established by theCompany considering the essential components of internal control stated in the GuidanceNote on Audit of Internal Financial Controls over Financial Reporting issued by theInstitute of Chartered Accountants of India.

For F P& Associates
Chartered Accountants
Firm Registration No: 143262W
F.S. SHAH
Ahmedabad Partner
May 30 2018 Membership No. 133589