To the Members of DSJ Communication Limited Report on the StandaloneFinancial Statements Opinion
We have audited the standalone financial statements of M/s. DSJCommunication Limited ("the Company") which comprise the balance sheet as at 31stMarch 2019 and the statement of Profit and Loss Statement of changes in Equity andStatement of Cash flows for the year then ended and notes to the financial statementsincluding a summary of significant accounting policies and other explanatory information.In our opinion and to the best of our information and according to the explanations givento us the aforesaid standalone financial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2019 its loss changes in equity and its cash flows for theyear ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing(SAs) specified under section 143(10) of the Companies Act 2013. Our responsibilitiesunder those Standards are further described in the Auditor's Responsibilities for theAudit of the Financial Statements section of our report. We are independent of the Companyin accordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the financial statements of the current period.These matters were addressed in the context of our audit of the financial statements as awhole and in forming our opinion thereon and we do not provide a separate opinion onthese matters.
We have determined that there are no key audit matters to communicatein our report.
Management's Responsibility for the Standalone FinancialStatements
The Company's Board of Directors is responsible for the mattersstated in section 134(5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these standalone financial statements that give a true and fair view ofthe financial position financial performance changes in equity and cash flows of theCompany in accordance with the accounting principles generally accepted in Indiaincluding the accounting Standards specified under section 133 of the Act. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of 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 thatgive a true and fair view and are free from material misstatement whether due to fraud orerror. In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.
The Board of Directors are also responsible for overseeing theCompany's financial reporting process Auditor's Responsibilities for theAudit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether thefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonableassurance is a high level of assurance but is not a guarantee that an audit conducted inaccordance with SAs will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if individuallyor in the aggregate they could reasonably be expected to influence the economic decisionsof users taken on the basis of these financial statements.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order2016 ("the Order") issued by the Central Government in terms of Section 143(11)of the Act we give in "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 we report that:
a. We have sought and obtained all the information andexplanations which to the best of our knowledge and belief were necessary for the purposesof our audit;
b. In our opinion proper books of account as required by lawhave been kept by the Company in so far as it appears from our examination of those books;
c. The Balance Sheet the Statement of Profit and Loss includingOther Comprehensive Income the Cash Flow Statement and Statement of Changes in Equitydealt with by this Report are in agreement with the relevant books of account.
d. In our opinion the aforesaid standalone Ind AS financialstatements comply with the Indian Accounting Standards prescribed under section 133 of theAct read with relevant rules issued thereunder.
e. On the basis of the written representations received from thedirectors as on 31st March 2018 and taken on record by the Board of Directorsnone of the directors is disqualified as on 31stMarch 2018 from being appointed as adirector in terms of Section 164(2) of the Act;
f. With respect to the adequacy of the internal financialcontrols over financial reporting of the Company and the operating effectiveness of suchcontrols refer to our separate Report in "Annexure B"
g. With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 as amended in our opinion and to the best of our information and accordingto the explanations given to us:
(i) The Company has disclosed the impact of pending litigationson its financial position in its standalone Ind AS financial statements. Refer note 19 tothe standalone Ind AS financial statements.
(ii) The Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses.
(iii) There has been no delay in transferring amounts requiredto be transferred to the Investor Education and Protection Fund by the Company.
3. With respect to the matter to be included in theAuditor's Report under section 197(16) of the Act:
In our opinion and according to the information and explanations givento us the Company has not paid any remuneration to its directors during the current year.Therefore comment required under section 197(16) of the Companies Act 2013 has not beengiven. Moreover the Ministry of Corporate Affairs has not prescribed other details underSection 197(16) of the Act which are required to be commented upon by us
| ||For J. D. Jhaveri & Associates |
| ||Chartered Accountants |
| ||Firm Registration No. 111850W |
| ||Jatin Jhaveri |
| ||Proprietor |
|Place of Signature: Mumbai ||Membership No. 045072 |
|Date: 30th May 2019 || |