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City Pulse Multiplex Ltd.

BSE: 542727 Sector: Media
NSE: N.A. ISIN Code: INE056001014
BSE 00:00 | 25 Feb 11.25 0
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NSE 05:30 | 01 Jan City Pulse Multiplex Ltd
OPEN 11.25
PREVIOUS CLOSE 11.25
VOLUME 4000
52-Week high 21.65
52-Week low 9.25
P/E 36.29
Mkt Cap.(Rs cr) 4
Buy Price 8.85
Buy Qty 4000.00
Sell Price 12.00
Sell Qty 4000.00
OPEN 11.25
CLOSE 11.25
VOLUME 4000
52-Week high 21.65
52-Week low 9.25
P/E 36.29
Mkt Cap.(Rs cr) 4
Buy Price 8.85
Buy Qty 4000.00
Sell Price 12.00
Sell Qty 4000.00

City Pulse Multiplex Ltd. (CITYPULSEMULTI) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

CITY PULSE MULTIPLEX LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of CITY PULSE MULTIPLEX LIMITED (the Company) which comprise the Balance Sheet as at 31/03/2019 the Statement of Profit and Loss the cash flow statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

Responsibilities of Management and those charged with governance for the financial statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act 2013 (the Act) with respect to the preparation of these financial statements that give a true and fair view of the financial position financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India including the Accounting Standards specified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing the Company's ability to continue as a going concern disclosing as applicable matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the company's financial reporting process

Auditor's Responsibility

Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from material misstatement whether due to fraud or error and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if individually or in the aggregate they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Company as at 31/03/2019 and its Profit and it's cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment including the assessment of the risks of material misstatement of the financial statements whether due to fraud or error. In making those risk assessments the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors as well as evaluating the overall presentation of the financial statements.

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

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditors' Report) Order 2016(the Order) issued by the Central Government of India in terms of sub section (11) of section 143 of the Companies Act 2013. We give in the Annexure A statements on the matters specified in paragraphs 3 and 4 of the order to the extent applicable.

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 best of 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 the Company 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 statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31/03/2019 taken on record by the Board of Directors none of the directors is disqualified as 31/03/2019 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls refer to our separate report in Annexure B.

(g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements.

ii. The Company has made provision as required under the applicable law or accounting standards for material foreseeable losses if any on long-term contracts including derivative contracts.

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

Date: 04/04/2019FOR O R MALOO & CO.
Place: Ahmedabad(Chartered Accountants)
Reg No. :135561W
CA OMKAR MALOO
(Partner)
Mem. No : 044074

ANNEXURE - A

Reports under The Companies (Auditor's Report) Order 2016 (CARO 2016) for the year ended on 31st March 2019

To

The Members of

CITY PULSE MULTIPLEX LIMITED

We report that: -

Sr. No.Comment Required onAuditor's Opinion on Following MatterAuditor's Remark
(i)Fixed Assetsa) Whether the company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets?The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.
b) Whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so whether the same have been properly dealt with in the books of accounts?Fixed assets have been physically verified by the management at reasonable intervals; No material discrepancies were noticed on such verification.
c) Whether the title deeds of immovable properties are held in the name of the company? lf not provide the details thereof.There are no Title deeds of immovable properties which are held in the name of the company.
(ii)InventoryWhether physical verification of inventory has been conducted at reasonable intervals by the management and whether any material discrepancies were noticed and if so whether they have been properly dealt with in the books of account?Since the company is engaged in Entertainment business hence no inventory has been maintained.
(iii)Loans Secured or Unsecured GrantedWhether the company has granted any loans secured or unsecured to companies firms Limited Liability partnerships or other parties covered in the register maintained under section 189 of The Companies Act 2013? if soThe company has not granted any loans secured or unsecured to companies firms or other parties covered in the register maintained u/s 189 of the companies Act-2013.
a) Whether the terms and conditions of the grant of such loans are not prejudicial to the company's interest?In our opinion and according to the information and explanations given to us. The rate of interest and other terms and conditions for such loans are not prima facie prejudicial to the interest to the company.
b) Whether the schedule of repayment of principal and payment of interest has been stipulated and whether the repayments or receipts are regular?The loans granted are re-payable on demand. As informed the company has not demanded repayment of any such loan during the year thus there has been no default on the part of the parties to whom the money has been lent. The payment of interest has been regular.
c) If the amount is overdue state the total amount overdue for more than ninety days and whether reasonable steps have been taken by the company for recovery of the principal and interest?There is no overdue amount of loans granted to companies firms or other parties listed in the register maintained under section 189 of the companies Act 2013.
(iv)Loan to director and investment by the companyIn respect of loans investments guarantees and security whether provisions of section 185 and 186 of the Companies Act 2013 have been complied with. If not provide the details thereof.While doing transaction for loans investments guarantees and security provisions of section 185 and 186 of the Companies Act 2013 have been complied with.
(v)Public DepositsIn case the company has accepted deposits whether the directives lssued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act 2013 and the rules framed thereunder where applicable have been complied with? If not the nature of such contraventions be stated; lf an order has been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal whether the same has been complied with or not?The company has not accepted any Deposits.
(vi)Cost Accounting RecordsWhether maintenance of cost records has been specified by the Central Government under sub-section (1) of section 148 of the Companies Act 2013 and whether such accounts and records have been so made and maintained?The Company is not required to maintain cost records pursuant to the Rules made by the Central Government for the maintenance of cost records under sub-section (1) of section 148 of the Companies Act 2013.
(vii)Statutory Compliancea) Whether the company is regular in depositing undisputed statutory dues including provident fund employees' state insurance income tax sales-tax service tax duty of customs duty of excise value added tax cess and any other statutory dues to the appropriate authorities and if not the extent of the arrears of outstanding statutory dues as on the last day of the financial year concerned for a period of more than six months from the date they became payable shall be indicated?The company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund employees' state insurance income tax sales-tax service tax duty of customs duty of excise value added tax cess and any other statutory dues applicable to it.
b) Where dues of income tax or sales tax or service tax or duty of customs or duty of excise or value added tax have not been deposited on account of any dispute then the amounts involved and the forum where dispute is pending shall be mentioned. (A mere representation to the concerned Department shall not be treated as a dispute)Detail of Disputed amount payable to statutory authorities are as given below.
(viii)Loan from Banks/ Financial InstitutionWhether the company has defaulted in repayment of loans or borrowing to a repayment financial institution bank government or institution dues to debenture holders? If yes the holders. period and the amount of default to be reported (in case of defaults to banks financial institutions and government lender wise details to be provided)The company has not defaulted in of dues to financial bank or debenture
(ix)Application of Money Received from Equity or LoanWhether moneys raised by way of initial public offer or further public offer {including debt instrument} and term loans were applied for the purposes for which those are raised. If not the details together with delays or default and subsequent rectification? if any as may be applicable be reported.The company has not raised any money by way of initial public offer or further public offer {including debt instruments) and term loans. Hence this clause is not applicable.
(x)Fraud ReportingWhether any fraud by the company or any fraud on the Company by its officers or employees has been noticed or reported during the year? If yes the nature and the amount involved is to be indicated;Based on our audit procedures and the information and explanation made available to us no such fraud noticed or reported during the year.
(xi)Managerial RemunerationWhether managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act? If not state the amount involved and steps taken by the company for securing refund of the same.Managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act.
(xii)Nidhi Company - Compliance with DepositsWhether the Nidhi Company has complied with the Net Owned Funds to Deposits in the ratio of 1:20 to meet out the liability and whether the Nidhi Company is maintaining ten per cent unencumbered term deposits as specified in the Nidhi Rules 2014 to meet out the liability?As per information and records available with us The company is not Nidhi Company.
(xiii)Related Party TransactionsWhether all transactions with the related parties are in compliance with section 177 and 188 of Companies where applicable and the details have been disclosed in the Financial Statements etc. as required by the applicable accounting standards?Yes All transactions with the related parties are in compliance with Act 2013 section 177 and 188 of Companies Act 2013 where applicable and the details have been disclosed in the Financial Statements etc. as required by the applicable accounting standards.
(xiv)Issue of Share Capital and use of Amount RaisedWhether the company has made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review and if so as to whether the requirement of section 42 of the Companies Act 2013 have been complied with and the amount raised have been used for the purposes for which the funds were raised. If not provide the details in respect of the amount involved and nature of non- compliance?During the year under consideration company has made preferential allotment of 797386 shares. Company has been complied with the requirement of section 42 of Companies Act 2013.
(xv)Transaction with DirectorWhether the company has entered into any non-cash transactions with directors or persons connected with him and if so whether the provisions of section 192 of Companies Act 2013 have been complied with?The company has not entered into any non-cash transactions with directors or persons connected with him.
(xvi)Registration from RBIWhether the company is required to be registered under section 45-IA of the Reserve Bank of India Act 1934 and if so whether the registration has been obtained?The company is not required to be registered under section 45-IA of the Reserve Bank of India Act.

 

FOR O R MALOO & CO.
(Chartered Accountants)
Reg No. :135561W
Place : AhmedabadCA OMKAR MALOO
Date : 04/04/2019(Partner)
Membership No: 044074

Annexure B to the Independent Auditor's Report of even date on the Standalone Financial Statements of CITY PULSE MULTIPLEX LIMITED Company limited

Report on the Internal Financial Controls 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 CITY PULSE MULTIPLEX LIMITED Company Limited (The Company) as of March 31 2019 in conjunction with our audit of the standalone 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 internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business including adherence to company's policies the safeguarding of its assets the prevention and detection of frauds and errors the accuracy and completeness of the accounting records and the timely preparation 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 financial controls over financial reporting based on our audit. We conducted our audit in accordance with 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 to be prescribed under section 143(10) of the Companies Act 2013 to the extent applicable to an audit of internal financial controls both applicable to an audit of Internal Financial Controls and both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence amount the adequacy of the internal financial control system over financial reporting and their Operating effectiveness. Our audit of internal financial controls over financial reporting assessing the risk that a material weakness exists and operating effectiveness of internal control based on the assessed risk. The procedures selected depend upon on the auditor's judgment including the assessment of the risks of material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion 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 is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition use or disposition of the company'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 financial reporting including the possibility of collusion or improper management override of controls material misstatements due to error or fraud may occur and not be detected. Also projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31 2016 based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issues by the Institute of Chartered Accountants of India.

Date : 04/04/2019FOR O R MALOO & CO.
Place : Ahmedabad(Chartered Accountants)
Reg No. :135561W
CA OMKAR MALOO
Partner
M.No. : 044074

   

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