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Dynamic Portfolio Management & Services Ltd.

BSE: 530779 Sector: Financials
NSE: N.A. ISIN Code: INE118C01018
BSE 00:00 | 19 Dec 1.78 0
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NSE 05:30 | 01 Jan Dynamic Portfolio Management & Services Ltd
OPEN 1.78
PREVIOUS CLOSE 1.78
VOLUME 200
52-Week high 3.11
52-Week low 1.48
P/E 19.78
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.78
CLOSE 1.78
VOLUME 200
52-Week high 3.11
52-Week low 1.48
P/E 19.78
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dynamic Portfolio Management & Services Ltd. (DYNAMICPORTFOL) - Auditors Report

Company auditors report

To

The Members of

Dynamic Portfolio Management & Services Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Dynamic Portfolio Management& Services Limited ("the Company") which comprise the Balance Sheet as at31st March 2018 the Statement of Profit & Loss Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 (‘the Act') with respect to the preparation andpresentation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rule2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding of assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriates accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that are operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 thereunder.

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 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 a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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 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.

a. In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2018;

b. In the case of the Statement of Profit & Loss of the profit for the year endedon that date; and

c. In the case of Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

i. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central

Government of India in terms of sub-section (11) of section 143 of the Act we give inthe "Annexure - A" a statement on the matters specified in paragraph 3 and 4 ofthe Order to the extent applicable.

ii. As required by the Section 143 (3) of the Act 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 purpose of our audit;

b) In our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books;

c) The Balance Sheet the Statement of Profit & Loss and Cash Flow Statement dealtwith by this report are in agreement with the books of accounts;

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 312018 and taken on record by the Board of Directors we report that none of the director isdisqualified as on March 31 2018 from being appointed as a director in terms of Section164 (2) 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) Rule 2014 in our opinionand to the best of our information and according to the explanations to us:

i. the Company does not have any pending litigations which would impact its financialpositions;

ii. the Company did not have any long term contacts including derivatives contracts forwhich there were any material foreseeable losses;

iii. there has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund . The question of delayin transferring such sums does not arise.

Date: 14.08.2018 For M A N V & Associates Chartered Accountants
Place: New Delhi Firm Registration No. 007351N
Vijay Kumar Jain Partner
M. No.087502

"Annexure- A" referred to in our Independent Auditors' Report to the Membersof Dynamic Portfolio Management & Services Limited on the financial statement for theyear ended on 31st March 2018 we report that:

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

b) The Fixed Assets have been physically verified by the management at reasonableintervals which in our opinion is reasonable having regard to the size of the Company andnature of its assets. As informed to us no material discrepancies have been noticed onsuch verification.

c) According to information and explanation given to us and on the basis of ourexamination of books of account the Company does not have immovable property during theyear and as on 31.03.2018. Therefore the provisions of paragraph 3(i)(c) of the Orderregarding the title deeds of the immovable properties is not applicable.

ii. According to information and explanation given to us and on the basis of ourexamination of books of account the quoted securities held as stock in trade have beenconfirmed with the statement of holding of depository at the end of the year. The unquotedsecurities held as stock in trade have been confirmed with share certificates at the endof the year. In our opinion the frequency of verification of securities is reasonable.

According to information and explanation given to us and on the basis of ourexamination of books of account the procedure of verification of securities held as stockin trade followed by the management were reasonable and adequate in relation to the sizeof the Company and the nature of its business.

According to information and explanation given to us and on the basis of ourexamination of books of account the Company has maintained proper records of securitiesheld as stock in trade and as informed to us no discrepancies have been noticed onverification.

iii. According to information and explanation given to us and on the basis of ourexamination of books of account the Company being a NBFC Company has not granted anyloans secured or unsecured to Companies Firms Limited Liability Partnerships or otherparties covered in the register maintained under section 189 of the Companies Act 2013.Therefore the provisions of the paragraph 3 (iii) of the Order is not applicable to theCompany.

iv. According to information and explanation given to us and on the basis of ourexamination of books of account the Company being a NBFC Company has not granted anyloans made any investments given any guarantees and security where provisions of section185 and 186 of the Act are required to be complied with. Therefore the provisions of theparagraph 3 (iv) of the Order is not applicable to the Company.

v. According to the information and explanations given to us and on the basis of ourexamination of books of accounts the Company has not accepted any deposits from thepublic covered under section 73 to 76 or other relevant provisions of the Companies Act2013 and rules framed thereunder. Therefore the provisions of the paragraph 3 (v) of theOrder is not applicable to the Company.

vi. As per information & explanation given by the management maintenance of costrecords has not been prescribed by the Central Government under sub-section (1) of section148 of the Companies Act 2013.

vii. According to information and explanations given to us in respect of statutorydues:

a) According to the records of the company undisputed statutory dues includingprovident fund employees' state insurance income tax sales tax service tax duty ofcustoms duty of excise value added tax cess and any other statutory dues to the extentapplicable have generally been regularly deposited with appropriate authorities.According to the information and explanations given to us there were no undisputedstatutory dues were outstanding as at 31st March 2018 for a period of morethan six months from the date they became payable.

b) According to information and explanation given to us and on the basis of ourexamination of books of account there are no disputed dues of income tax sales taxservice tax duty of customs duty of excise and value added tax.

viii. According to information and explanation given to us and on the basis of ourexamination of books of account the Company has not defaulted in the repayment of loansor borrowing to financial institution bank or government. The Company has not issued anydebentures.

ix. According to information and explanation given to us and on the basis of ourexamination of books of account the Company has not raised money by way of initial publicoffer or further public offer (including debt instruments) and term loans during the year.Therefore the provisions of the paragraph 3 (ix) of the Order is not applicable to theCompany.

x. In our opinion and according to the information and explanations given to us nomaterial fraud on or by the Company has been noticed or reported during the year.

xi. According to information and explanation given to us and on the basis of ourexamination of books of account the Company has paid/provided for managerial remunerationin accordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Act.

xii. According to the information and explanations given to us and in our opinion theCompany is not a Nidhi

Company. Therefore the provisions of the paragraph 3 (xii) of the Order is notapplicable to the Company. xiii. According the information and explanations given to usand on the basis of our examination of the records of the Company all transactions withthe related parties are in compliance with section 177 and 188 of the Act where applicableand the details have been disclosed in the Financial Statements as required by theapplicable accounting standards.

xiv. According the information and explanations given to us and on the basis of ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Therefore the provisions of the paragraph 3 (xiv) of the Order is notapplicable to the Company.

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 them.Accordingly the provisions of the paragraph 3 (xv) of the Order is not applicable to theCompany.

xvi. The Company holds a Certificate of Registration No. B-05.02311 issued by ReserveBank of India to carry the business of non banking financial services (Non-DepositAccepting or Holding) under section 45-IA of the Reserve Bank of India Act 1934.

Date: 14.08.2018 For M A N V & Associates Chartered Accountants
Place: New Delhi Firm Registration No. 007351N
Vijay Kumar Jain
Partner
M. No.087502

Annexure-B referred to the Independent Auditor's Report to the Members of DynamicPortfolio Management & Services Limited being report on the Internal FinancialControls under Clause (i) of Subsection 3 of Section 143 of the Companies Act 2013("the Act")

We have audited the internal financial controls over financial reporting of DynamicPortfolio Management & Services Limited ("the Company") as at March 31 2018in conjunction with our audit of the financial statements of the Company for the yearended 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 controlsstated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting bases 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 in accordance with section 143(10) of the Companies Act2013 to the extent applicable to an audit of internal financial controls both issued bythe Institute of Chartered Accountants of India. Those Standards and the Guidance Noterequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting were established and maintained and if such controls operated effectively in allmaterial respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls systems 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 authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized 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 controls stated in the Guidance Note on Audit ofInternal Financial Controls over Financial Reporting issued by the Institute of CharteredAccountants of India.