THE MEMBERS OF GOBLIN INDIA LIMITED
We have audited the accompanying Consolidated Financial Statements of Goblin IndiaLimited ("the Company") which comprise the Balance Sheet as at 31/03/2019.the Statement of Profit and Loss for the year then ended and c summery of thesignificant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Consolidated Financial Statements give the information requiredby the Act in the manner so required and give a true and fa;r view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at 31/03/2019 and its Profit for the year ended onthat date
Management's Responsibility for the Consolidated 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 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.
This responsibility also includes maintenance of adequate accounting records Inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting 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 controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe Consolidated Financial Statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these Consolidated Financial Statementsbased on our audit.
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 Consolidated Financial Statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Consolidated Financial Statements.
The procedures selected depend on the auditor's judgment including the assessment ofthe risks of material misstatement of the Consolidated Financial Statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the Consolidated FinancialStatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion onwhether the Company has in place an adequate internal financial controls system overfinancial 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 Consolidated Financial Statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Consolidated Financial Statements.
Report on Other Legal and Regulatory Requirements
This report doesn't include a statement on the matters specified in paragraph 3 and 4of the Companies (Auditor's Report) Order 2016 issued by the Central Government ofIndia in terms of sub section 11 of section 143 of the companies Act 2013 since in Ouropinion and according to the information and explanation given to us the said order is notapplicable to the company.
As required by 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 purposes 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 and Loss dealt with by this Report arein agreement with the books of account.
(d) In our opinion the aforesaid Consolidated Financial Statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.
(e) On the basis of the written representations received from the directors as on 31/03/2019taken on record by the Board of Directors none of the directors is disqualified as 31/03/2019from being appointed as a director in terms of Section 164 (2) 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 A'.
(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 has disclosed the impact of pending litigations on its financialposition in its Consolidated Financial Statements.
II. 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.
iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.
|Date: 24/05/2019 ||FOR O R MALOO & CO. |
|Place: Ahmedabad ||(Chartered Accountants) |
| ||Reg No. :135561W |
CA OMKAR MALOO Partner