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IFM Impex Global Ltd.

BSE: 522289 Sector: Others
NSE: N.A. ISIN Code: INE169F01014
BSE 12:27 | 19 Feb IFM Impex Global Ltd
NSE 05:30 | 01 Jan IFM Impex Global Ltd
OPEN 5.91
PREVIOUS CLOSE 5.91
VOLUME 99
52-Week high 6.19
52-Week low 4.43
P/E 42.21
Mkt Cap.(Rs cr) 2
Buy Price 5.91
Buy Qty 101.00
Sell Price 6.20
Sell Qty 74.00
OPEN 5.91
CLOSE 5.91
VOLUME 99
52-Week high 6.19
52-Week low 4.43
P/E 42.21
Mkt Cap.(Rs cr) 2
Buy Price 5.91
Buy Qty 101.00
Sell Price 6.20
Sell Qty 74.00

IFM Impex Global Ltd. (IFMIMPEXGLOBAL) - Auditors Report

Company auditors report

To the Members of IFM Impex Global Limited Delhi-110033

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of IFM IMPEX GLOBAL LIMITED NewDelhi which comprise the Balance Sheet as at March 31 2017 the Statement of Profit andLoss and Cash Flow Statement for the year ended and a summary of significant accountingpolicies 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 ofthese standalone 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)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 financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

AUDITORS' RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act and issued by the Institute of Chartered Accountants of India.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial 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 preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe Company's internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well as evaluating the overall presentation of the financial statements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion.

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 stateof affairs of the Company as at March 31 2017; (b) In the case of the Statement of Profitand Loss of the Loss of the Company for the year ended on that date; and (c) Inthe case of the Cash Flow Statement of the cash flows of the Company for the year endedon that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

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

Government of India in terms of Sub Section 11 of Section 143 of the Act we give inthe Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act we report that:

a. We have sought & 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 appears from our examination 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 Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with Accounting Standards specified in under section 133 under theAct read with Rule 7 of the Companies (Accounts) Rules 2014.

e. On the basis of the written representations received from the directors as on March31 2017 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2017 from being appointed as a director in terms of Section 164 (2) ofthe Act.

f. With respect to the adequacy of internal financial controls over financial reportingof the company and operating effectiveness of such controls the company has in allmaterial respects an adequate internal financial controls system over financial reportingand such internal financial controls over financial reporting were operating effectivelyas at 31st March 2017 based on the internal control over financial reportingcriteria established by the company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India.

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 does not have any pending litigations for which financial impact to beascertained in the financial statements. ii. The Company does not have any long-termcontracts including derivative contracts for which there were any material foreseeablelosses. iii. There has been no amount required to be transferred to the InvestorEducation and Protection Fund by the Company. iv. The Company has provided requisitedisclosures in the financial statements as regards its holding and dealings in SpecifiedBank Notes as defined in the Notification S.O. 3407(E) dated the 8th November 2016 of theMinistry of Finance during the period from 8th November 2016 to 30th December 2016; andsuch disclosures are in accordance with the books of accounts maintained by the Company.

For Neeraj Ramesh Chandra & Associates
Chartered Accountants
FRN: 017155N
Sd/-
Place: New Delhi Manish Goyal (Partner)
Date: 27.05.2017 M. No.541591

Annexure referred to in Para 1 of our report of even date to the shareholders of IFMImpex Global Limited on accounts for the year ended 31stMarch 2017.

1. a) During the year under audit the Company could not produce the fixed assetsrecords/registers before us for verification which as explained to us are underpreparation. In view of above we are unable to comment on the matter. b) As explained tous major fixed assets have been physically verified by the management during the year. Wehave been informed that the discrepancies noticed on such verification as compared to bookrecord were not material and have been properly dealt with in the books of account. In ouropinion the frequency of verification is reasonable.

2. a) As informed to us physical verification of inventory has been conducted atreasonable intervals by the management. (b) In our opinion the procedures of physicalverification of inventory followed by the management are reasonable and adequate inrelation to the size of the Company and the nature of its business. (c) In our opinion theCompany is maintaining proper records of inventory. As informed to us no materialdiscrepancies were noticed on physical verification. As explained to us the discrepanciesnoticed have been properly dealt with in the books of account.

3. During the year the Company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the register maintained under Section 189 ofthe Companies Act 2013. Therefor the provisions of clause 3(iii) [(a) to (c)] of the saidOrder are not applicable to the Company.

4. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Section 186 of the Act with respect to theInvestment made. The Company has not given any loans to which the provisions of section185 of the Act is applicable.

5. According to the information and explanations given to us the Company has notaccepted any deposits in terms of the directives issued by the Reserve Bank of India andthe provisions of sections 73 to 76 or any other relevant provisions of the Companies Act2013 and the rules framed there under.

6. In respect of business activities of the Company maintenance of cost records hasnot been specified by the Central Government under sub-section (l) of section 148 of theCompanies Act 2013 read with rules framed thereunder.

7. a) As per information and explanations given to us there are no undisputed statutoryliabilities lying unpaid as at the year-end for a period of more than six months from thedate they become payable.

b) No amounts were required to be transferred to investor education and protection fundin accordance with the relevant provisions of the Companies Act 1956 (1 of 1956) andrules made thereunder.

8. The accumulated losses of the Company as at the end of the financial year haveexceeded 50% of its net worth. The Company has incurred cash losses in the financial yearunder audit and in the immediately preceding financial year.

9. During the year the Company has not borrowed any loan/funds from bank or/andfinancial institution. Also the Company has not issued any debentures or raised money byway of initial public offer or further public offer during the year.

10. The Company has not given any guarantee for loans taken by others from bank orfinancial institutions.

11. Based upon the audit procedures and information and explanations given by themanagement we report that no fraud on or by the Company or its employees has beennoticed or reported during the course of our audit nor have we been informed of any suchcases by the Management for the year ended 31st March 2017.

12. In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly paragraph 3(xii) of the Order is notapplicable.

13. According to the information and explanations given to us and based on ourexamination of the records of the Company no transactions with the related parties havebeen undertaken as per section 177 and 188 of the Act.

14. According to the information and explanations given to us and based on 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.

15. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with Directors or persons connected with them. Accordingly paragraph 3(xv)of the Order is not applicable.

16. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company is not required to be registeredunder section 45-IA of the Reserve Bank of India Act 1934.

For Neeraj Ramesh Chandra & Associates
Chartered Accountants
FRN: 017155N
Sd/-
Place: New Delhi Manish Goyal (Partner)
Date: 27.05.2017 M.No.541591