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Disha Resources Ltd.

BSE: 531553 Sector: Financials
NSE: N.A. ISIN Code: INE193D01019
BSE 00:00 | 17 Dec Disha Resources Ltd
NSE 05:30 | 01 Jan Disha Resources Ltd
OPEN 5.36
PREVIOUS CLOSE 5.36
VOLUME 25
52-Week high 5.36
52-Week low 5.36
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.36
CLOSE 5.36
VOLUME 25
52-Week high 5.36
52-Week low 5.36
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Disha Resources Ltd. (DISHARESOURCES) - Auditors Report

Company auditors report

To the Members of

DISHA RESOURCES LIMITED

REPORT ON THE FINANCIAL STATEMENTS:

We have audited the accompanying financial statements of DISHA RESOURCES LIMITED("the Company") which comprise the Balance Sheet as at March 31 2018 theStatement of Profit and Loss (Including Other Comprehensive Income) the Statement ofChanges In Equity and the Statement of Cash Flows for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS:

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance including other comprehensive income cash flows and changes in equity of theCompany in accordance with the Indian Accounting Standards (Ind AS) accounting principlesgenerally accepted in India including the Indian Accounting Standards specified underSection 133 of the Act read the Companies (Indian Accounting Standard) Rules 2015 asamended.

This responsibility also includes the maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding of the assets of the Company andfor preventing and detecting the frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial 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 financial statements based on 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 thereunder and the Orderissued under section 143(11) of the Act..

We conducted our audit of the Financial Statements in accordance with the Standards onAuditing specified under section 143(10) of the Act. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the financial statements are free from material 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 financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe 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.

OPINION:

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India: i. In the case of the Balance Sheet of the stateof the affairs of the company as at

31st March 2018;

ii. In the case of Statement of Profit & Loss of PROFIT (including Other

Comprehensive Income) for the year ended on that date

iii. In the case of Statement of Changes in Equity of the changes in Equity for the

year ended on that date AND

iv. In the case of the Statement of Cash Flows of the cash flows for the year

ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS:

1. As required by section 143(3) of the Act based on our audit 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 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 appears from our examination of those books;

c) The Balance Sheet the Statement of Profit and Loss including Other ComprehensiveIncome Statement of Changes in Equity & the Statement of Cash Flow Statement dealtwith by this Report are in agreement with the books of account;

d) In our opinion the Balance Sheet the Statement of Profit and Loss including OtherComprehensive Income the Statement of Changes in Equity & the Statement of Cash Flowcomply with the Indian Accounting Standards prescribed under section 133 of the Act;

e) On the basis of written representations received from the directors of the Companyas on March 31 2018 and taken on record by the Board of Directors none of the directorsis disqualified as on March 31 2018 from being appointed as a director in terms ofsub-section (2) of section 164 of Act;

f) With respect to the adequacy of internal financial control over financial reportingof the Company and the operating effectiveness of such controls refer to our separatereport in Annexure-A; g) With respect to the other matters included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 asamended in our opinion and to the best of our information and according to theexplanations given to us :

i. The Company did not have any pending litigation as at the end of the

financial year which may impact its financial position.

ii. The Company did not have any long-term contracts including derivatives

contracts for which there were any material foreseeable losses.

iii. As at 31st March 2018 there were no amounts which were required to be transferredto the Investor Education and Protection Fund by the Company.

2. As required by The Companies (Auditor's Report) Order 2016 issued by The CentralGovernment Of India in term of section 143 (11) of The Companies Act 2013 we enclose inthe Annexure-B hereto a statement on the matters specified in paragraphs 3 and 4 of thesaid order to the extent applicable to the company.

FOR AND ON BEHALF OF
S. N. SHAH & ASSOCIATES
CHARTERED ACCOUNTANTS
FIRM REG. NO. 109782W
PLACE: AHMEDABAD FIROJ G. BODLA
DATED: 30 MAY 2018 PARTNER
M. No. 126770

ANNEXURE "A" TO THE INDEPENDENT AUDITORS' REPORT

[REFERRED TO IN PARAGRAPH 1(f) UNDER "REPORT ON OTHER LEGAL AND

REGULATORY REQUIREMENTS SECTION OF OUR REPORT OF EVEN DATE] FINANCIAL YEAR ENDED 31STMARCH 2018

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 DISHARESOURCES LIMITED ("the Company") as of March 31 2018 in conjunction withour audit of the Ind AS financial statements of the company for the year ended on thatdate.

Management's Responsibility for Internal Financial Controls

The management of the company 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 include the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information 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 prescribed under section143(10) of the Companies Act 2013 to the extent applicable to an audit of internalfinancial controls. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate 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 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 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 and to the best of our information and according to the information andexplanations 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 commensurate with the nature of the business of the companyand operating effectively as at March 31 2018 based on the internal control overfinancial reporting criteria established by the company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

FOR AND ON BEHALF OF
S. N. SHAH & ASSOCIATES
CHARTERED ACCOUNTANTS
FIRM REG. NO. 109782W
PLACE: AHMEDABAD FIROJ G. BODLA
DATED: 30 MAY 2018 PARTNER
M. No. 126770

ANNEXURE-B TO THE INDEPENDENT AUDITOR'S REPORT

[Referred to in paragraph 2 under "Report On Other Legal And RegulatoryRequirements' section of our report of even date to the members of DISHA RESOURCES LIMITEDon the financial statements of the company for the year ended 31st March 2018

On the basis of such checks of the books and records of the company as we consideredappropriate and according to the information and explanation given to us during the courseof audit we further report that:

i. In respect of its fixed assets:

a) According to the information and explanations given to us the company did not ownor hold any fixed assets at any time during the year and hence this clause relating tomaintenance of proper records of fixed assets showing full particulars includingquantitative details and situation of fixed assets is not applicable.

b) As explained to us the management in accordance with a phased programme ofverification adopted by the company has physically verified the fixed asset. To the bestof our knowledge no material discrepancies have been noticed on such verification or havebeen reported to us.

c) According to the information and explanations given to us and on the basis of theexamination of the records of the company the title deeds of immovable properties areheld in the name of the Company as at the balance sheet date.

ii. In respect of its Inventories:

a) As explained to us the company held inventories of the shares/securities during theyear and accordingly it did not hold any physical inventories during the year. The clause3(ii) of The Companies (Auditor's Report) Order 2016 is not applicable.

iii. Loans/Advances Granted:

As informed to us during the year the company has not granted any secured/unsecuredloans to any Company Firms Limited Liability Partnerships or Other Parties covered inthe register maintained under section 189 of the Companies Act 2013 and hence othermatters related thereto referred to in clause III of The Companies (Auditor's Report)Order 2016 is not applicable .

iv. According to the information and explanations given to us the company has notentered into any transaction of the nature referred to in Sections 185 and 186 of TheCompanies Act 2013 in respect of any loans investments guarantees and security.

v. According to the information and explanations given to us the company has notaccepted any deposits from the public within the meaning of section 73 to 76 of the Actand Rules framed thereunder during the year and therefore the provisions of clause 3(v)of The Companies (Auditor's Report) Order 2016 is not applicable to the Company.

vi. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Companies Act 2013 for the kind of business the company hascarried out during the year and accordingly clause 3(vi) of The Companies (Auditor'sReport) Order 2016 is not applicable to the Company.

vii. In respect of Statutory Dues:

a) As per the information & explanations furnished to us in our opinion thecompany is generally regular in depositing with appropriate authorities undisputedstatutory dues of T.D.S. and other material statutory dues applicable to it. There hasbeen no outstanding as at 31st March 2018 of undisputed liabilities outstanding for morethan six months.

b) According to information and explanations given to us and so far as appears from ourexamination of books of account there were no statutory dues outstanding as at 31stMarch 2018 which have not been deposited on account of any dispute.

viii. According to the information and explanations given to us the Company did nothave any loans or borrowings from Banks or Financial Institutions or dues to any debentureholders during the year and accordingly clause 3(viii) of The Companies (Auditor's Report)Order 2016 is not applicable to the Company.

ix. The company has not raised moneys by way of initial public offer or further publicoffer and term loans during the year and accordingly clause 3(ix) of The Companies(Auditor's Report) Order 2016 is 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 Officers or Employees has been noticed or reported to usby the management during the year.

xi. In our opinion and according to the information and explanations given to us thecompany had paid/provided managerial remuneration in accordance with the provisions ofSection 197 of the Companies Act 2013 read with Schedule V of the Companies Act 2013.

xii. As the company is not the Nidhi Company clause (xii) of paragraph 3 of TheCompanies (Auditor's Report) Order 2016 is not applicable to it.

xiii. According to the information and explanations given to us the company is incompliance with the provisions of sections 177 and 188 of the Companies Act 2013 whereapplicable for related party transactions and the details of related party transactionshave been disclosed in the Notes to the Financial Statements in accordance with theapplicable Accounting Standards.

xiv. The company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year clause (xiv) of paragraph 3 ofThe Companies (Auditor's Report) Order 2016 is not applicable to it during the year.

xv. According to the information and explanations given to us the company has notentered into any non cash transaction with directors or persons connected with them andhence clause (xv) of paragraph 3 of The Companies (Auditor's Report) Order 2016 is notapplicable to it during the year.

xvi. As the company is not required to be registered under section 45-IA of the ReserveBank of India 1934 clause (xvi) of paragraph 3 of The Companies (Auditor's Report)Order 2016 is not applicable to it.

FOR AND ON BEHALF OF
S. N. SHAH & ASSOCIATES
CHARTERED ACCOUNTANTS
FIRM REG. NO. 109782W
PLACE: AHMEDABAD FIROJ G. BODLA
DATED: 30 MAY 2018 PARTNER
M. No. 126770