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Integra Switchgear Ltd.

BSE: 517423 Sector: Engineering
NSE: N.A. ISIN Code: INE0IPL01018
BSE 00:00 | 30 Aug Integra Switchgear Ltd
NSE 05:30 | 01 Jan Integra Switchgear Ltd
OPEN 4.52
PREVIOUS CLOSE 4.52
VOLUME 200
52-Week high 4.52
52-Week low 4.52
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.52
CLOSE 4.52
VOLUME 200
52-Week high 4.52
52-Week low 4.52
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Integra Switchgear Ltd. (INTEGRASWITCH) - Auditors Report

Company auditors report

To

The Members

INTEGRA SWITCHGEAR LIMITED Vadodara

Report on the Financial Statements:

We have audited the accompanying financial statements of INTEGRA SWITCHGEAR LIMITED(Company Limited by Shares) Vadodara as at 31st March 2021 which comprisesthe Balance Sheet as at March 31 2021 Statement of Profit and Loss for the year endedcash flow statements for the year ended and a summary of significant accounting policiesand other explanatory information.

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 state of affairs of the Company as at March31 2021; b) In the case of the Profit and Loss Statement of the Loss for the year endedon that date.

c) In the case of the Cash Flow Statement of the cash flow for the year ended on thatdate.

Basis for opinion:

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Act and other applicable authoritative pronouncements issuedby the Institute of Chartered Accountants of India. Our responsibilities under thoseStandards are further described in the 'Auditor's Responsibilities for the Audit of theStandalone Financial Results' section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Act and the Rules there under and wehave fulfilled our other ethical responsibilities in accordance with these requirementsand the Code of

Ethics. We believe that the audit evidence obtained by us is sufficient and appropriateto provide a basis for our opinion.

Management's Responsibility for the Financial Statements:

Management is responsible for the matter stated in Section 134 (5) of the CompaniesAct

2013("The Act") with respect to preparation of these financial statementsthat give a true and fair view of the financial position financial performance and cashflow of the Company in accordance with the accounting principles generally accepted inIndia including Accounting Standards specified under section 133 of the Act notifiedunder the Act read with Rule 07 of the Companies (Accounts) Rule 2015.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding the assets of the company andfor preventing and detecting fraud and irregularities selections and application ofappropriate accounting policies making judgments and estimates that are reasonable andprudent and design implementation and maintenance of adequate internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the standalone financial statements management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so. The Board of Directors are responsible for overseeingthe

Company's financial reporting process.

Auditors Responsibility:

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken in to accounts the provision of the Act the accounting and auditingstandards and the matters which are required to be included in the audit report under theprovisions of the Act and the rules made there under and order under section 143(11) ofthe Act.

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 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 financial control relevant to the company's preparation of 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 ofaccounting policies used and the reasonableness of the accounting estimates made by the

Company ‘s Board of Directors as well as evaluating the overall presentation ofthe 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.

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 in terms of section 143(11) of the Act we give in the Annexure‘A' statements on the matters specified in paragraphs 3 and 4 of the said 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 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 of the Company.

(c) The Balance Sheet Profit & Loss statements and cash flow statements dealt withby this report are in agreement with the Books of accounts of the Company.

(d) In our opinion the Balance Sheet Profit & Loss Statement and cash flowstatements comply with the Accounting Standards specified under section 133 of the Actread with Rule 07 of the Companies (Accounts) Rule 2015.

(e) On the basis of the written representations received from the Directors of theCompany as on 31st March 2021 taken on record by the Board of Directors of theCompany none of the Directors is disqualified as on 31st March 2021 frombeing appointed as a Director in terms section 164 (2) of the companies Act 2013.

(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 B".

(g) With respect to other matters to be included in the Auditor ‘s Report inaccordance with rule 11 of the companies (Audit & Auditors) Rule 2014 in our opinionand to the best of our information and according to the explanations given to us: 01. TheCompany has disclosed the impact of pending litigations on its financial

Statements as of 31st March 2021

02. The Company has made provision in its Financial Statements as required under theapplicable law or accounting standards for material foreseeable losses on long termscontracts 03. There were no amount which were required to be transferred to the Investor

Education and Protection Fund by the Company.

(h) In our opinion and to the best of our information and according to the explanationgiven to us the said accounts read with the notes on accounts in Notes annexed to andforming part of accounts give the information required by the Companies Act2013 in themanner so required give a true and fair view subject to: (i) Non Provision ofdepreciation on fixed assets of the company read with note no.3 forming part of the Notesto Accounts.

PLACE: VADODARA. FOR C. MUKHERJEE & CO.
DATE:08/ 06/ 2021 Chartered Accountants
Firm Reg.. 0021495
UDIN:21050861AAAAAB4559
(C.MUKHERJEE)
Proprietor
M.No.050861

ANNEXURE ‘A' TO INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 01 under "Report on other legal and regulatoryrequirement" of our report of even date)

(i) In respect of fixed assets

(a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) All the assets have been physically verified by the management during the year andthere is a regular program of verification which in our opinion is reasonable havingregard to the size of the company and the nature of its assets. No material discrepancieswere noticed on such verification.

(c) On the basis of examination of books of accounts of the company it does not heldany immovable property hence clause related to Title deed of immovable property held bythe company is not applicable to the company.

(ii) In respect of Inventories

(a) The inventory has been physically verified during the year by the management. Inour opinion the frequency of verification is reasonable.

(iii) In respect of secured or unsecured loans to / from companies firms or otherparties listed under section 189 of the Companies Act.

The company has not granted or taken any loan secured or unsecured to/from companiesfirms or other parties covered under section 2 clause 76 of the Companies Act hencesub-clauses iii ( a & c) are not applicable.

(iv) In our opinion and according to information and explanation given to us thecompany has complied with the provision of the section 185 and 186 of Act with respect tothe loans and investments made.

(v) The company has not accepted deposit from public. Accordingly paragraph 3(v) notapplicable to the company.

(vi) The Central Government has not prescribed the maintenance of Cost Records underSection 148 (1) of the Companies Act for the products of the Company hence need nocomments.

(vii) According to the information and explanations given to us in respect of statutoryand other dues:

(a) The company is regular in depositing the statutory dues as applicable to thecompany for the year under report.

(b) There are no undisputed statutory dues payable in respect of provident fundinvestor education and protection fund employee state insurance income tax sales taxvalue added tax service tax customs duty excise duty and cess which are outstandingand in arrears as at 31st March 2021 for a period of more than six monthsfrom the date they became payable. There are no dues of sales tax income tax customsduty service tax wealth tax excise duty and cess which have not been deposited onaccount of any dispute

(viii) In our opinion and according to the information and explanations given to usthe company has not defaulted in repayment of dues to a financial institution bank ordebenture holders.

(ix) The company has not taken any term loans and hence requirement of reportingregarding application of term loans does not arise.

(x) According to the information and explanations given to us no fraud on company byits officers /employees nor by the company has been noticed or reported during the courseof our audit.

(xi) The company is a private limited and hence paragraph 3(xi) not applicable to thecompany.

(xii) In our opinion company is not a nidhi company hence paragraph 3(xii) notapplicable to company

(xiii) According to the information and explanation given to us and based on the ourexamination of books of accounts of the company transactions with related parties are incompliance with section 177 and 188 of the Act wherever applicable and details of suchtransactions have been disclosed in the financial statements as required by applicableaccounting standards.

(xiv) According to the information and explanation given to us and based on ourexamination of the records of the company the company has not made any preferentialallotment or private placements of shares or fully or partly convertible debenture duringthe year.

(xv) According to information and explanation given to us and based on our examinationof the records of the company the company has not entered in to non cash transactionswith directors or persons connected with him. Accordingly paragraph 3(xv) not applicableto the company.

(xvi) The company is not required to be registered under section 41-IA of the ReserveBank of India Act 1934.

PLACE: VADODARA. FOR C. MUKHERJEE & CO.
DATE: 08/ 06/ 2021 Chartered Accountants
Firm Reg.. 0021495
UDIN:21050861AAAAAB4559
(C.MUKHERJEE)
Proprietor
M.No.050861

ANNEXURE ‘B' TO INDEPENDENT AUDITOR'S REPORT

(Referred to in point (f) of paragraph 02 under "Report on other legal andregulatory requirement" of our report of even date)

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section

143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of INTEGRASWITCHGEAR LIMITED ("The Company") as of March 31 2021 in conjunction withour audit of the standalone financial statements of the Company for the year ended on thatdate.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the

"Guidance Note") and the Standards on Auditing issued by ICAI and deemed tobe prescribed under section 143(10) of the Companies Act 2013 to the extent applicableto an audit of internal financial controls both applicable to an audit of InternalFinancial

Controls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial control system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reportingassessing the risk that a material weakness exists and operating effectiveness ofinternal control based on the assessed risk. The procedures selected depend upon on theauditor's judgement including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations of

Management 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 Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2021 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls over Financial Reporting issues by the Institute of CharteredAccountants of India.

Date : 08/06/2021 FOR C.MUKHERJEE & CO
Place : VADODARA Chartered Accountants
FRN : 0021495
UDIN: 21050861AAAAAB4559
C MUKHERJEE
Proprietor
M.No. : 050861

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