The Members of Intec Capital Limited
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of Intec CaiptalLimited (the "Company") which comprise the Standalone Balance Sheet as at March31 2018 the Standalone Statement of Profit and Loss and Standalone Cash Flow Statementfor the year then ended and a summary of the significant accounting policies and otherexplanatory information.
Management's Responsibility for the Standalone 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 Companies Act 2013 read with Rule 7 of the Companies(Accounts) Rules 2014 and the Companies (Accounting Standards) Amendment Rules 2016 andthe directions and guidelines issued by Reserve Bank of India relating to SystemicallyImportant Non-Deposit taking Non Banking Financial Company ('NBFC Regulation') in thisregard to the extent applicable and in the manner so required.
This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the standalonefinancial 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 standalone 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 standalone financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the standalone financial statements. The procedures selected depend on theauditors' judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to
the Company's preparation of the standalone financial statements that give a true andfair view in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the standalone financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Companies Act 2013 and the directions and guidelines issued by Reserve Bank ofIndia as applicable to Systemically Important Non-Deposit taking Non Banking FinancialCompany in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at March 31 2018 and its loss 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' ("theOrder") 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 of the Order.
2. 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 appears from our examination of those books.
(c) the Standalone Balance Sheet the Standalone Statement of Profit and Loss and theStandalone Cash Flow Statement dealt with by this Report are in agreement with the booksof account.
(d) in our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Companies Act 2013 read withRule 7 of the Companies (Accounts) Rules 2014 and the Companies (Accounting Standards)Amendment Rules 2016 to the extent they are not inconsistent with the accountingprinciples prescribed in the NBFC Regulation.
(e) on the basis of the written representations received from the directors as on March31 2018 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2018 from being appointed as a director in terms of Section 164 (2) of theAct.
(f) with respect to the adequacy of the internal financial controls with reference tofinancial statements of the Company and the operating effectiveness of such controlsrefer to our separate report 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 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 financial statements - Refer Note 24.a to the standalone financialstatements;
ii. The Company has not entered into any long-term contracts including derivativecontracts.
iii. There has been no amount required to be transferred to the Investor Educationand Protection Fund by the Company.
| ||For S.P. CHOPRA & CO. |
| ||Chartered Accountants |
| ||Firm Regn. No. 000346N |
| ||Pawan K. Gupta |
| ||Partner |
| ||Membership Number: 092529 |
|Place : New Delhi || |
|Dated: May 24 2018 || |