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J Taparia Projects Ltd.

BSE: 538539 Sector: Financials
NSE: N.A. ISIN Code: INE075K01013
BSE 00:00 | 26 Mar 0.27 -0.01
(-3.57%)
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NSE 05:30 | 01 Jan J Taparia Projects Ltd
OPEN 0.27
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VOLUME 362
52-Week high 11.55
52-Week low 0.27
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.27
Buy Qty 440.00
Sell Price 0.27
Sell Qty 10.00
OPEN 0.27
CLOSE 0.28
VOLUME 362
52-Week high 11.55
52-Week low 0.27
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.27
Buy Qty 440.00
Sell Price 0.27
Sell Qty 10.00

J Taparia Projects Ltd. (JTAPARIAPROJ) - Auditors Report

Company auditors report

To the Members of

J. TAPARIA PROJECTS LIMITED

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statementsof J. TAPARIA PROJECTS LIMITED ("the Company") which comprise theBalance Sheet as at March 31 2018 and the Statement of Profit and Loss (including OtherComprehensive Income) the Statement of Changes in Equity and the Statement of Cash Flowsfor the year then ended and a summary of the significant accounting policies and otherexplanatory information (hereinafter referred to as

"standalone Ind AS financial statements").

Management's Responsibility for the Standalone Ind AS FinancialStatements

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 thereunder and the Order issued under section 143(11) of the Act.

We conducted our audit of the standalone Ind AS 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 Ind AS financialstatements are free from material misstatement. An audit involves performing procedures toobtain audit evidence about the amounts and the disclosures in the standalone Ind ASfinancial statements. The procedures selected depend on the auditor's judgment includingthe assessment of the risks of material misstatement of the standalone

Ind AS financial statements whether due to fraud or error. In makingthose risk assessments the auditor considers internal financial control relevant to theCompany's preparation of the standalone Ind

AS financial statements that give a true and fair view in order todesign audit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company's

Directors as well as evaluating the overall presentation of thestandalone Ind AS financial statements. We believe that the audit evidence obtained by usis sufficient and appropriate to provide a basis for our audit opinion on 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 explanations which tothe best of our knowledge and belief were necessary for the purposes of our audit. b) inour opinion proper books of account as required by law have been kept by the Company sofar as it appears from our examination of those books. c) the Balance Sheet the Statementof Profit and Loss including Other Comprehensive Income Statement of Changes in Equityand the Statement of Cash Flow dealt with by this Report are in agreement with the booksof account. d) in our opinion the aforesaid standalone Ind AS financial statements complywith the Indian Accounting Standards prescribed under section 133 of the Act. e) on thebasis of the written representations received from the directors of the Company as onMarch 31 2018 taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2018 from being appointed as a director in terms of Section164(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 unmodifiedopinion on the adequacy and operating effectiveness of the Company's internal financialcontrols over financial reporting. g) with respect to the other matters to be included inthe Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 as amended in our opinion and to the best of our information and accordingto the explanations given to us: i. The Company has disclosed the impact of pendinglitigations on its financial position in its standalone Ind AS financial statements. ii.The Company did not have any long-term contracts including derivative contracts for whichthere were any material foreseeable losses. . iii. There were no amounts which wererequired to be transferred 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) ofthe Act we give in "Annexure B" a statement on the matters specified inparagraphs 3 and 4 of the Order.

For R. K. KANKARIA & CO.

Chartered

Accountants Firm Reg. No. : 321093E

(R. K. KANKARIA) (Partner) M. No. : 082796

Place : Kolkata Date : 29.05.2018

ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal andRegulatory Requirements' section of our report to the Members of J. TAPARIA PROJECTSLIMITED of even date)

Report on the Internal Financial Controls Over Financial Reportingunder Clause (i) of Subsection 3 of Section 143 of the Companies Act 2013 ("theAct")

We have audited the internal financial controls over financialreporting of J. TAPARIA PROJECTS LIMITED ("the Company") as of March 312018 in conjunction with our audit of the standalone Ind AS financial statements of theCompany for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishingand maintaining 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.

These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business the safeguarding of itsassets the prevention and detection of frauds and errors the accuracy and completenessof the accounting records and the timely preparation of reliable financial informationas required under the Companies Act 2013.

Auditor's Responsibility

Our responsibility is to express an opinion on the internal financialcontrols over financial reporting of the Company based on our audit. We conducted ouraudit in accordance with the Guidance Note on

Audit of Internal Financial Controls Over Financial Reporting (the"Guidance Note") issued by the

Institute of Chartered Accountants of India and the Standards onAuditing prescribed under Section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls overfinancial reporting was established and maintained and if such controls operatedeffectively in all material respects. Our audit involves performing procedures to obtainaudit evidence about the adequacy of the internal financial controls system over financialreporting and their operating effectiveness. Our audit of internal financial controls overfinancial reporting included obtaining an understanding of internal financial controlsover financial reporting assessing the risk that a material weakness exists and testingand evaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor's judgement including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols 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 the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of thecompany; (2) provide reasonable assurance that transactions are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorisations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorisedacquisition use or disposition of the company's assets that could have a material effecton the financial statements.

Limitations of Internal Financial Controls Over Financial Reporting

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.

Opinion

In our opinion to the best of our information and according to theexplanations given to us 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 2018 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 issued by the Institute of CharteredAccountants of India.

For R. K. KANKARIA & CO.

Chartered Accountants Firm Reg. No. : 321093E (R. K. KANKARIA)(Partner) M. No. : 082796

Place : Kolkata Date : 29.05.2018

ANNEXURE ‘B' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal andRegulatory Requirements' section of our report to the Members of J. TAPARIA PROJECTSLIMITED of even date)

i. In respect of the Company's fixed assets:

(a) The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets. (b) Fixed assets of thecompany are physically verified by the management at reasonable intervals. According tothe information and explanations given to us no material discrepancies were noticed onsuch verification. In our opinion the periodicity of the physical verification isreasonable having regard to the size of the Company and the nature of its assets. (c)According to the information and explanations given to us the Company does not haveimmovable property. Thus paragraph 3(i)(c) of the Order is not applicable to the Company.ii. The Company does not hold any inventory within the meaning of inventories as definedin Ind

AS -2. Hence in our opinion Paragraph 3(ii) of the order is notapplicable to the Company. iii. The Company has not granted any loans secured orunsecured to companies firms Limited

Liability Partnership or other parties covered in the Registermaintained under Section 189 of the Act therefore the provisions of paragraph 3(iii)(a) 3(iii) (b) and 3(iii) (c) of the Order are not applicable. iv. In our opinion andaccording to the information and explanations given to us the Company has complied withthe provisions of Sections 185 and 186 of the Act in respect of grant of loans makinginvestments and providing guarantees and securities as applicable. v. The Company has notaccepted deposits during the year and does not have any unclaimed deposits as at March 312018 and therefore the provisions of the clause 3 (v) of the Order are not applicable tothe Company. vi. The maintenance of cost records has not been specified by the CentralGovernment under section 148(1) of the Companies Act 2013 for the business activitiescarried out by the Company. Thus reporting under clause 3(vi) of the order is notapplicable to the Company. vii. In respect of statutory dues: a) According to the recordsof the Company undisputed statutory dues including provident fund employees' stateinsurance income-tax sales tax service Tax duty of customs duty of excise valueadded tax cess and other material statutory dues have been generally regularly depositedto the appropriate authorities. According to the information and explanations given to usno undisputed amounts payable in respect of the aforesaid dues were outstanding as on lastday of the financial year concerned for a period of more than six months from the datethey became payable. b) Details of dues of Income Tax Sales Tax Service TaxCustom duty Excise duty and Value Added Tax which have not been deposited as on March 312018 on account of disputes given below:

Name of the Statue Nature of Dues

Amount(Rs.)

Period to which amount relates

Forum where dispute is pending
Income Tax Act 1 1961 Income Tax

280260/-

A.Y. 2014-15

Commissioner of Income Tax (Appeal)

viii. The Company has not taken any loans or borrowings from financialinstitutions banks and government or has not issued any debentures. Hence reporting underclause 3 (viii) of the Order is not applicable to the Company. ix. The Company has notraised moneys by way of initial public offer or further public offer

(including debt instruments) or term loans and hence reporting underclause 3 (ix) of the Order is not applicable to the Company. x. To the best of ourknowledge and according to the information and explanations given to us no fraud by theCompany or no material fraud on the Company by its officers or employees has been noticedor reported during the year. xi. In our opinion and according to the information andexplanations given to us the Company has paid/provided managerial remuneration inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Act. xii. The Company is not a Nidhi Company and hence reportingunder clause 3 (xii) of the Order is not applicable to the Company. xiii. In our opinionand according to the information and explanations given to us the Company is incompliance with Section 177 and 188 of the Companies Act 2013 where applicable for alltransactions with the related parties and the details of related party transactions havebeen disclosed in the standalone Ind AS financial statements as required by the applicableaccounting standards. xiv. During the year the Company has not made any preferentialallotment or private placement of shares or fully or partly paid convertible debenturesand hence reporting under clause 3 (xiv) of the Order is not applicable to the Company.xv. In our opinion and according to the information and explanations given to us duringthe year the Company has not entered into any non-cash transactions with its Directors orpersons connected to its directors and hence provisions of section 192 of the CompaniesAct 2013 are not applicable to the Company. xvi. The Company is not required to beregistered under section 45-IA of the Reserve Bank of India

Act 1934.

For R. K. KANKARIA & CO.

Chartered Accountants Firm Reg. No. : 321093E

(R. K. KANKARIA) (Partner) M. No. : 082796

Place : Kolkata Date : 29.05.2018