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Halder Venture Ltd.

BSE: 539854 Sector: Others
NSE: N.A. ISIN Code: INE115S01010
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NSE 05:30 | 01 Jan Halder Venture Ltd
OPEN 46.00
PREVIOUS CLOSE 46.00
VOLUME 300
52-Week high 78.00
52-Week low 12.12
P/E 66.67
Mkt Cap.(Rs cr) 15
Buy Price 54.00
Buy Qty 1.00
Sell Price 43.90
Sell Qty 212.00
OPEN 46.00
CLOSE 46.00
VOLUME 300
52-Week high 78.00
52-Week low 12.12
P/E 66.67
Mkt Cap.(Rs cr) 15
Buy Price 54.00
Buy Qty 1.00
Sell Price 43.90
Sell Qty 212.00

Halder Venture Ltd. (HALDERVENTURE) - Auditors Report

Company auditors report

We have audited the accompanying standalone Ind AS financial statementsof M/S Halder Venture Limited ("The Company") which comprise the Balance Sheetas at March 31 2018 the Statement of Profit and Loss (including Other ComprehensiveIncome) Statement of changes in Equity and Statement of Cash Flows for the year thenended and notes to the financial statements including a summary of significantaccounting policies and other explanatory information

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters statedin Section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone Ind AS financial statements that give a true and fair viewof the financial position financial performance including other comprehensive incomecash flows and changes in equity of the Company in accordance with the Indian AccountingStandards (Ind AS) prescribed under section 133 of the Act read with the Companies (IndianAccounting Standards) Rules 2015 as amended and other accounting principles generallyaccepted in India.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and 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 standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone Ind ASfinancial statements based on our audit. In conducting our audit we have taken intoaccount the provisions of the Act the accounting and auditing standards and matters whichare required to be included in the audit report under the provisions of the Act and theRules made there under and the Order issued under section 143(11) of the Act.

We conducted our audit of the standalone financial statements inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the standalone financial statements arefree from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the standalone Ind AS financial statements. Theprocedures selected depend on the auditor's judgment including the assessment of therisks of material misstatement of the standalone Ind AS 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 standalone Ind AS financialstatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Company's Directors as well as evaluating the overall presentation of the standaloneInd AS financial statements.

Opinion

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone Ind AS financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at March 31 2018 and its profit total comprehensive incomethe changes in equity and its 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 wereport that:

a. We have sought and obtained all the information and explanationswhich to the best of 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 beenkept by the Company so far as it appears from our examination of those books

c. the Balance Sheet the Statement of Profit and Loss including OtherComprehensive Income Statement of Changes in Equity and the Statement of Cash Flow dealtwith by this Report are in agreement with the books of account

d. in our opinion the aforesaid standalone Ind AS financial statementscomply with the Indian Accounting Standards prescribed under section 133 of the Act

e. on the basis of the written representations received from thedirectors of the Company as on March 31 2018 taken on record by the Board of Directorsnone of the directors is disqualified as on March 31 2018 from being appointed as adirector in terms of Section 164(2) of the Act

f. with respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate Report in "Annexure A". Our report expresses an

unmodified opinion on the adequacy and operating effectiveness of theCompany's internal financial controls over financial reporting.

g. with respect to the other matters to be 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 has disclosed the impact of pending litigations on itsfinancial position in its standalone Ind AS financial statements

ii. The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses if any on longtermcontracts including derivative contracts.

iii. There has been no delay in transferring amounts required to betransferred to the Investor Education and Protection Fund by the Company

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

Central Government in terms of Section 143(11) of the Act we give in"Annexure B" a statement on the matters specified in paragraphs 3 and 4 of theOrder

For SEN & RAY

Chartered Accountants

(Firm's Registration No.303047E)

Soumik Ray (Partner)

Membership No.122465

Kolkata May 30 2018

ANNEXURE-A

Report on the Internal Financial Controls under Clause (i) ofSub-section 3 of Section 143 of the Companies' Act 2013 ("the Act")

We have audited the internal financial controls over financialreporting of Halder Venture Limited ("the Company") as of March 31 2018 inconjunction with our audit of the standalone Ind AS financial statements of the Companyfor the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting 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.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. 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 audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness.

Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor's judgments including the assessment of therisks of material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence I/we have obtained is sufficient andappropriate to provide a basis for my / our audit opinion on the Company's internalfinancial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures 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 FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls

material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Disclaimer of Opinion

Framework for Internal Financial Control over financial reporting notestablished but does not impact the audit opinion on Financial Statement.

According to the information and explanation given to us the Companyhas not established its internal financial control over financial reporting on criteriabased on or considering the essential components of internal control stated in theGuidance Note on Audit of Internal Financial Control over Financial Reporting issued bythe Institute of Chartered Accountants of India. Because of this reason we are unable toobtain sufficient and appropriate audit evidence to provide a basis for our opinionwhether the Company had adequate Internal Financial Control over financial reporting andwhether such internal financial controls were operating effectively as at March 31 2018.We have considered the disclaimer reported above in determining the nature timing andextent of audit test applied in our audit of the financial statement of the Company andthe disclaimer does not affect our opinion on the financial statement of the Company.

For SEN & RAY

Chartered Accountants

(Firm's Registration No.303047E)

Soumik Ray (Partner)

Membership No.122465

Kolkata May 30 2018

ANNEXURE B - REPORT UNDER THE COMPANIES (AUDITORS' REPORT) ORDER 2016.

Referred to in of our report of even date.

In terms of the information and explanations sought by us and given bythe company and the books and records examined by us in the normal course of audit and tothe best of our knowledge and belief we state that: -

i. In respect of its Fixed Assets

a. The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

b. The Fixed Assets have been physically verified by the management onthe last date of the financial year. Based on the Fixed Asset verification documentsreceived form the entity no material discrepancies

c. There is no immovable property held by the company therefore theprovisions of clause 3 (i)(c) of the Order are not applicable to the Company

ii. In respect of the Inventories

a. The management has conducted physical verification of inventory ason the last date of the financial year.

b. The discrepancies noticed on physical verification of the inventoryas compared to books records which has been properly dealt with in the books of accountwere not material

iii. The Company has not granted any loans secured or unsecured tocompanies firms Limited Liability partnerships or other parties covered in the Registermaintained under section 189 of the Act. Accordingly the provisions of clause 3 (iii) (a)to (c) of the Order are not applicable to the Company and hence not commented upon.

iv. In our opinion and according to the information and explanationgiven to us in respect of loans investments guarantees and security the provisions ofsection 185 and 186 of the Companies Act 2013 have been complied with.

v. The Company has not accepted any deposits from the public and hencethe directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76or any other relevant provisions of the Act and the Companies (Acceptance of Deposit)Rules 2015 with regard to the deposits accepted from the public are not applicable.

vi. As informed to us the maintenance of Cost Records has not beenspecified by the Central Government under sub section (1) of section 148 of the Act inrespect of the activities carried out by the Company

vii. a.) According to information and explanations given to us and onthe basis of our examination of the books of account and records the Company has beengenerally regular in depositing undisputed statutory dues including Provident FundEmployees State Insurance Income-Tax Sales tax Service Tax Duty of Customs Duty ofExcise Value added Tax Cess and any other statutory dues with the appropriateauthorities. According to the information and explanations given to us no undisputedamounts payable in respect of the above were in arrears as at March 31 2018 for a periodof more than 6 months from the date on when they become payable.

b ) According to the information and explanation given to us there areno dues of income tax sales tax service tax duty of customs duty of excise valueadded tax outstanding on account of any dispute

viii. According to the information and explanations given to us theCompany has not taken any loan either from financial institutions or from the governmentand has not issued any debentures.

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

explanations given by the management the company has not raised moneyby way of initial public offer or further public offer including debt instruments and termLoans. Accordingly the provisions of clause 3 (ix) of the Order are not applicable to theCompany and hence not commented upon.

x. Based upon the representation letter received and explanations givenby 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

explanations given by the management no Managerial Remuneration hasbeen paid or provided. Accordingly the provisions of clause 3 (xi) of the Order are notapplicable to the Company and hence not commented upon.

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

xiii. Based upon the audit procedures performed and according to theinformation and explanations given to us All transactions with related parties are incompliance with sections 177 and 188 of Companies Act 2013 where applicable and thedetails have been disclosed in the Financial statements etc. as required by the applicableaccounting standards.

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

explanations given by the management the company has not made anypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review. Accordingly the

provisions of clause 3 (xiv) of the Order are not applicable to theCompany 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 intoany non-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 undersection 45 IA of the Reserve Bank of India Act 1934 and accordingly the provisions ofclause 3 (xvi) of the Order are not applicable to the Company and hence not commentedupon.

For SEN & RAY

Chartered Accountants

(Firm's Registration No.303047E)

Soumik Ray (Partner)

Membership No.122465

Kolkata May 30 2018