The Members of
HEC INFRA PROJECTS LIMITED
Report on the Financial Statements
We have audited the accompanying financial statements of HEC INFRA PROJECTSLIMITED("the Company") which comprise the Balance Sheet as at 31st March 2017the Statement of Profit and Loss and the Cash Flow Statement for the year then ended anda summary of significant accounting policies and other explanatory informafion.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated in secfion134(5) of the Companies Act 2013 ("the Act") with respect to the preparafionand presentafion of these financial statements that give a true and fair view of thefinancial posifion financial performance and cash flows of the Company in accordance withthe accounfing principles generally accepted in India including the Accounfing Standardsspecified under Secfion 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes the maintenance of adequate accounfingrecords in accordance with the provision of the Act for safeguarding of the assets of theCompany and for prevenfing and detecfing the frauds and other irregularifies; selecfionand applicafion of appropriate accounfing policies; making judgments and esfimates thatare reasonable and prudent; and design implementafion and maintenance of internalfinancial controls that were operafing effecfively for ensuring the accuracy andcompleteness of the accounfing records relevant to the preparafion and presentafion ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.
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 accounfing and audifingstandards 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 Audifing specified undersecfion 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 control relevant to the Company's preparafion of the
financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluafingthe appropriateness of accounting policies used and the reasonableness of the accounfingesfimates made by the Company's Directors as well as evaluafing the overall presentafionof 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.
In our opinion and to the best of our informafion and according to the explanafionsgiven to us the aforesaid financial statements give the informafion required by the Actin the manner so required and give a true and fair view in conformity with the accounfingprinciples generally accepted in India of the state of affairs of the Company as at 31stMarch 2017 and its profit and its Cash Flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. 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 secfion 143 ofthe Act we give in the Annexure- "A" a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable to the company.
2. As required by secfion 143(3) of the Act we report that:
a) We have sought and obtained all the informafion and explanafions 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 relating to preparafionof the financial statements have been kept by the Company so far as it appears from ourexaminafion of those books.
c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.
d) In our opinion the aforesaid financial statements comply with the AccounfingStandards specified under secfion 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014 as applicable.
e) On the basis of written representafions received from the directors as on 31stMarch 2017 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms ofsecfion 164(2) of the Act.
f) With respect to the adequacy of internal financial controls over financial reporfingof the company and the operafing effectiveness of such controls refer to our separatereport in Annexure- "B" and
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 our best of our informafion and according to the explanafions given to us:-
i. The company did not have any pending litigations which could impact its financialposition in its financial 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 are required to be transferred to the InvestorEducation and Protection Fund by the company.
iv. The Company has provided requisite disclosures in the financial statements as toholdings as well as dealings in specified Bank Notes during the period from 8th November2016 to 30th December 2016. Based on audit procedures and relying on the managementrepresentation we report that. The disclosures are in accordance with the books ofaccounts maintained by the company and as produced by the management.
| ||For PARTH P SHAH & CO |
| ||CHARTERED ACCOUNTANTS |
| ||[FRN: 141540W] |
| ||(PARTH SHAH) |
|Place: Ahmedabad ||Proprietor |
|Date: 27/05/2017 ||Membership No: 167721 |