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Dhanuka Commercial Ltd.

BSE: 538446 Sector: Financials
NSE: N.A. ISIN Code: INE296Q01012
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NSE 05:30 | 01 Jan Dhanuka Commercial Ltd
OPEN 4.26
PREVIOUS CLOSE 4.26
VOLUME 10000
52-Week high 9.80
52-Week low 3.20
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.26
CLOSE 4.26
VOLUME 10000
52-Week high 9.80
52-Week low 3.20
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dhanuka Commercial Ltd. (DHANUKACOMMERC) - Auditors Report

Company auditors report

To

The Members

Dhanuka Commercial Limited

Report on the financial Statements

We have audited the accompanying financial statements of Dhanuka Commercial Limited("the Company") which comprise the Balance Sheet as at March 31 2018 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management responsibilities 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 ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the Accountingprinciples generally accepted in India including the accounting standards specified undersection 133 of the act read with rule 7 of the companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provisions of the act for safeguarding the assets of the company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgment and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of financial statements that give atrue and fair view and are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the act and the rules made there under. We conducted our audit in accordancewith the Standards on Auditing issued by the Institute of Chartered Accountants of India.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

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 control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating the overall presentation of the financial statements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India: a) in the case of the Balance Sheet of the stateof affairs of the Company as at March 31 2018; b) in the case of the Statement Profit andLoss Account of the losses for the year ended on that date; c) in the case of the CashFlow Statement of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors' Report) Order 2016 ('the Order) issued bythe Central Government of India in terms of sub-section (11) of section 143 of the Act wegive in "Annexure-A" a statement on the matters specified in the paragraph 3and 4 of the order.

2. As required by section 143(3) of the Act we report that: a) We have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purpose of our audit; b) In our opinion proper books ofaccount as required by law have been kept by the Company so far as it appears from ourexamination of those books; c) the Balance Sheet Statement of Profit and Loss and CashFlow Statement dealt with by this report are in agreement with the books of account; d) Inour opinion the Balance Sheet Statement of Profit and Loss and Cash Flow Statementcomply with the Accounting Standards referred to in section 133 of the Companies Act2013 read with rule 7 of the Companies (Accounts) Rules 2014; e) On the basis of writtenrepresentations received from the directors as on March 31 2018 and taken on record bythe Board of Directors none of the directors is disqualified as on March 31 2018 frombeing appointed as a director in terms of sub section (2) of section 164 of the CompaniesAct 2013; f) 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-B"; and g) With respect to the other mattersincluded in the auditor's report and to best of our information and according to theexplanation given to us.

1) The company has disclosed the impact of pending litigation on its financial positionin its financial statement.

2) The company has made provision as required under the applicable law or AccountingStandards for material foreseeable losses if any on long term contracts includingderivative contracts.

3) There has been no delay in transferring amounts required to be transferred to theinvestor's education and protection fund by the company.

3. As per Non-Banking Financial Companies Auditors Report (Reserve Bank) Directions1998 issued by Reserve Bank of India vide Notification No.-DFC117/DG(SPT)-98 dated January2 1998 we further report to the extent to which matters specified therein are applicableto the company that : a) The company is a Non-Banking Financial Company not acceptingpublic deposits and the certificate of registration no. B-14.03301 dated 22.05.2014 fromReserve Bank of India has been issued to the company. b) The Board of Directors of thecompany has passed a resolution for the non-acceptance of any public deposits. c) Thecompany has not accepted any public deposits during the relevant year. d) The company hascomplied with the prudential norms relating to income recognition accounting standardsassets classification and provisioning for bad and doubtful debts as applicable to it.

For DSP & ASSOCIATES
Chartered Accountants
(FRN -006791N)
Sd/-
Place: Delhi (SANJAY KUMAR)
Date: 17th May 2018 PARTNER
M.No.093720

"ANNEXURE-A" TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements'section of our report of even date)

(i) In Respect of its Fixed Assets:

(a) The Company has maintained proper records showing full particulars includingquantitative details and situation of 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. According to theinformation and explanation given to us no material discrepancies were noticed on suchverification.

(c) There is no immovable properties held in the name of the company.

(ii) In Respect of its inventory:

According to the information and explanations given to us Physical verification ofinventory has been conducted at reasonable intervals by the management and no materialdiscrepancies were noticed on physical verification during the year.

(iii) According to information and explanations given to us the company has notgranted loans secured or unsecured to companies firms Limited Liability Partnerships orother parties covered in the register maintained under section 189 of the Companies Act2013.

(iv) According to information and explanations given to us the Company has compliedwith the provisions of section 185 and 186 of the Companies Act 2013 in respect of loansinvestments guarantees and security. (v) According to information and explanations givento us the company has not accepted any deposits during the year.

(vi) According to the information and explanations given to us the Central Governmenthas not prescribed maintenance of cost records under sub-section (1) of section 148 of theCompanies Act' 2013.

(vii) According to the information and explanations given to us in respect of statutorydues:

(a) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company amounts deducted/accrued in the books ofaccount in respect of undisputed statutory dues including Provident fund Employees' StateInsurance Income tax Sales tax Wealth tax Service tax Customs duty Excise dutyValue added tax Cess Professional tax and other material statutory dues have beenregularly deposited during the year by the Company 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 SalestaxWealth tax Service tax Customs duty Excise duty Value added tax CessProfessional tax and other material statutory dues were in arrears as at March 31 2018for a period of more than six months from the date they became payable. (c) According tothe information and explanations given to us there are no dues of Income tax Wealth taxSales tax Value added tax Service tax Customs duty Excise duty and Cess which have notbeen deposited with the appropriate authorities on account of any dispute except following:

Name of Statute Name of Dues Forum where dispute is pending Assessment Year Amount Outstanding
Income Tax Act Income Tax CIT (Appeals) 2014-15 Rs. 236610/-

(viii) The company has not defaulted in repayment of loans or borrowing to a financialinstitution bank Government or dues to debenture holders.

(ix) The Company has not raised moneys by way of initial public offer or further publicoffer (including debt instruments) and term loans during the year.

(x) According to the information and explanations given to us no instances of materialfraud on or by the Company has been noticed or reported during the course of our audit.

(xi) The managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act (xii) In our opinion and according to information and explanations given tous the Company is not a nidhi company. Accordingly paragraph 3(xii) of the order is notapplicable.

(xiii) According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013where ever applicable and the details have been disclosed in the Financial Statementsetc. as required by the applicable accounting standards

(xiv) According to the information and explanations given to us the company has notmade any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year under review.

(xv) According to the information and explanations given to us the company has notentered into any non-cash transactions with directors or persons connected with him andthe provisions of section 192 of Companies Act 2013 have been complied with; (xvi)According to the information and explanations given to us the company is required to beregistered under section 45-IA of the Reserve Bank of India Act 1934 and the company hasduly obtained the registration vide certificate of registration no. B-14.03301 dated22.05.2014.

For DSP & ASSOCIATES
Chartered Accountants
(FRN -006791N)
Sd/-
Place: Delhi (SANJAY KUMAR)
Date: 17th May 2018 PARTNER
M.No.093720

"ANNEXURE-B" TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 2(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 DhanukaCommercial Limited ("the Company") as of March 31 2018 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 Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 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 judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for my /our audit opinion on the Company's internal financial controls system overfinancial 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 authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany'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 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 March 31 2018 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 DSP & ASSOCIATES
Chartered Accountants
(FRN -006791N)
Sd/-
Place: Delhi (SANJAY KUMAR)
Date: 17th May 2018 PARTNER
M.No.093720