You are here » Home » Companies » Company Overview » DRA Consultants Ltd

DRA Consultants Ltd.

BSE: 540144 Sector: Others
NSE: N.A. ISIN Code: INE746V01016
BSE 00:00 | 19 Jun 20.10 0
(0.00%)
OPEN

21.70

HIGH

21.70

LOW

20.10

NSE 05:30 | 01 Jan DRA Consultants Ltd
OPEN 21.70
PREVIOUS CLOSE 20.10
VOLUME 7500
52-Week high 47.45
52-Week low 20.10
P/E 7.67
Mkt Cap.(Rs cr) 22
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 21.70
CLOSE 20.10
VOLUME 7500
52-Week high 47.45
52-Week low 20.10
P/E 7.67
Mkt Cap.(Rs cr) 22
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

DRA Consultants Ltd. (DRACONSULTANTS) - Auditors Report

Company auditors report

To the Members of DRA Consultants Ltd.

We have audited the accompanying financial statements of DRA Consultants Ltd whichcomprise the Balance Sheet as at March 31 2017 and the Statement of Profit and Loss andCash Flow Statement for the year then ended and a summary of significant accuunlingpulicics and uLlicr cxplanatoiy ixifoxxxxatioxx.

Management's Responsibility for Financial Statements

The Company's Board of Directors is responsible fox' Lhe xxiallexs sLaLed ixx Seetioxx134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese ' financial statements that give a tme 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 maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and

• presentation of the financial statements that give a tme and fair view and arefree from material misstatement whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statement our audit. Wehave taken into account the provisions of the Act the accounting and

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

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers 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 Directors as well asevaluating 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 financial statements.

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: of the state of affairs of the Company as at 31March 2017 and its profit and its cash flows for the year ended on that date.

Report on Other Legal 8s Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure A statement on the matters specified in theparagraph 3 and 4 of the Order to the extent applicable.

2. As required by section 143 (3) of the Act we report that:

a) we have sought and obtained all the information and explanations which tg.the^est ofour knowledge and belief were necessary for the purpose of our audit;

b) in our opinion proper books of account as required by law have Company so far asappears from our examination of those books

c) the Balance Sheet Statement of Profit and Loss and' Cash Flow Statement dealt withby this Report are in agreement with the books of account.

d) in our opinion the aforesaid financial statements comply with the AccountingStandards specified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) on the basis of written representations received from the directors as on March 312017 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2017 from being appointed as a director in terms of subsection (2) ofsection 164 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".

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 doeo not have any pending litigationo on ito financial pooition in itofinancial statements.

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

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For AMIT GHARLUTE & CO.
Chartered Accountants
CA. AMIT GHARLUTE^
Partner
Membership No. . 137851
Nagpur May 30 2017 Firm Reg. No.: 133252W

ANNEXURE "A" TO THE INDEPENDENT AUDITORS* REPORT

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the financial statements for the year ended 31 March 2017 we report that:

i. a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

b) As explained to us fixed assets according to the practice of the company TheFixed Assets have been physically verified by the management in a phased . mannerdesigned to cover all the items over a period of three years which in our opinion isreasonable having regard to the size of the company and nature of its business. Pursuantto the program a portion of the fixed asset has been physically verified by themanagement during the year and no material discrepancies between the books records and thephysical fixed assets have been noticed.

c) According to all Information and explanation to uo and on the baoio of ourexamination of the records of the company the title deeds of immovable properties areheld in the name of the Company.

ii. The Company is a Service Company. Accordingly It does not hold any physicalinventories .Thus Paragraph 3 (ii) of the Order is not applicable to the Company.

iii. In respect of loans secured or unsecured Loan granted by the company toCompanies firms or other relatives covered in Register under Section 189 of the CompaniesAct 2013 according to the information and explanations given to us :

a) During the year The Company has not granted any unsecured Loans to companiescovered in the register maintained under section 189 the Companies Act 2013 (‘theAct').

iv. In Our opinion and according to the information and explanations given to usthe company has complied with the provisions of section 185 and 186 of the Companies Act2013 In respect of loans investments guarantees and security.

v. The Company has not accepted any deposits from the public and hence thedirectives issued by the Reserve Bank of India and the provisions of Sections 73. to 76 orany other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules2015 with regard to the deposits accepted from the public are . not applicable.

vi. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the Company.

viL (a) According to information and explanations given to us and on the basis ofour examination of the books of account and records the Company has been generallyregular in depositing undisputed statutory dues including Provident Fund Employees StateInsurance Income-Tax Sales tax Service Tax Cess and any other statutory dues with theappropriate authorities. According to the information and explanations given to us noundisputed amounts payable in respect of the above were in arrears as at March 31 2017for a period of more than six months from the date on when they become payable .

b) According to the information and explanation given to us there are no dues ofincome tax sales tax service tax duty of customs duty of excise value added

I tax outstanding on account of any dispute.

viii. In our opinion and according to the information and explanations given to usthe Company has not defaulted in the repayment of dues to banks.

ix. Based upon the audit procedures performed and the information and explanationsgiven by the During the Year The company has laised moneys by way of initial publicoffer Accordingly the provisions of clause 3 (ix) of the Order are applicable to theCompany are complied and hence not commented upon.

x. Based upon the audit procedures performed and the information and explanationsgiven by the management we report that no fraud by the Company or on the company by itsofficers or employees has been noticed or reported during the year. '

xi. Based upon the audit procedures performed and the information and explanationsgiven by the management the managerial remuneration has been paid or provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act;

xii. In our opinion the Company is not a Nidhi Company. Therefore the provisionsof clause 3 (xii) of the Order are not applicable to the Company.

xiii. In Our Opinion all transactions with the relatedparties are incompliancewith section 177 and 188 of Companies Act 2013 and the details have been disclosed in .the Financial Statements as required by the applicable accounting standards

xiv. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3 (xiv) of the Order are not applicable tothe Company and hence not commented upon.

xv. Based upon the audit procedures performed and the information and

• explanations given by the management the company has not entered into anynon-cash transactions with directors or persons connected with him. Accordingly theprovisions of clause 3 (xv) of the Order are not applicable to the Company and hence notcommented upon. ;

xvi. In our opinion the company is not required to be registered under section 45IA of the Reserve Bank of India Act 1934 and accordingly the provisions of clause 3(xvi) of the Order are not applicable to the Company and hence not commented upon

For AMIT GHARLUTE & CO.
Chartered Accountants
CA. AMIT GHARLUTE^
Partner
Membership No. . 137851
Nagpur May 30 2017 Firm Reg. No.: 133252W

ANNEXURE "B" TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THESTANDALONE FINANCIAL STATEMENTS OF DRA Consultants Ltd.

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 DRAConsultants Ltd. as of 31-Mar-2017 in conjunction with our audit of the standalonefinancial 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. These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business including adherence tocompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the acutely and completeness of the accounting records and the timelypreparation oi reliable 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 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 auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit of internal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal the assessed risk. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. We believe that the audit evidencewe have obtained is sufficient and appropriate to provide a basis for our audit opinion onthe 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 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 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 authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised 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 31-Mar-2017

For AMIT GHARLUTE & CO.
Chartered Accountants
CA. AMIT GHARLUTE^
Partner
Membership No. . 137851
Nagpur May 30 2017 Firm Reg. No.: 133252W