You are here » Home » Companies » Company Overview » Jatalia Global Ventures Ltd

Jatalia Global Ventures Ltd.

BSE: 519319 Sector: Others
NSE: N.A. ISIN Code: INE847M01011
BSE 00:00 | 25 Mar 4.50 0.21
(4.90%)
OPEN

4.50

HIGH

4.50

LOW

4.50

NSE 05:30 | 01 Jan Jatalia Global Ventures Ltd
OPEN 4.50
PREVIOUS CLOSE 4.29
VOLUME 1
52-Week high 4.50
52-Week low 2.43
P/E 3.24
Mkt Cap.(Rs cr) 7
Buy Price 4.50
Buy Qty 4009.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.50
CLOSE 4.29
VOLUME 1
52-Week high 4.50
52-Week low 2.43
P/E 3.24
Mkt Cap.(Rs cr) 7
Buy Price 4.50
Buy Qty 4009.00
Sell Price 0.00
Sell Qty 0.00

Jatalia Global Ventures Ltd. (JATALIAGLOBAL) - Auditors Report

Company auditors report

To the Members of

Aashee Infotech Limited

Report on the Mergedstandalone Financial Statements

We have audited the accompanying merged standalone financial statements of AasheeInfotech Limited (‘the Company’) which comprise the Balance Sheet as at March31 2018 the Statement of Profit and Loss (including other comprehensive income) theStatement of Changes in Equity and the Statement of Cash Flows for the year then ended anda summary of the significant accounting policies and other explanatory information.

Management’s Responsibility for the merged 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 merged standalone financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income cash flowsand changes in equity of the Company in accordance with the Indian Accounting Standards(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 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 mergedstandalone 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 merged standalone financialstatements based on our audit.

In conducting our audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made thereunder and the Orderissued under Section 143(11) of the Act.

We conducted our audit of the merged standalone financial statements in accordance withthe Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the merged standalone financial statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the merged standalone financial statements. The procedures selecteddepend on the auditor’s judgment including the assessment of the risks of materialmisstatement of the merged standalone financial statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the Company’s preparation of the merged standalone financial statementsthat give a true and fair view in order to design audit procedures that are appropriate inthe circumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by theCompany’s Directors as well as evaluating the overall presentation of the mergedstandalone financial statements.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the merged standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid merged standalone financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at March 31 2018 and its profit total comprehensive income the changes inequity and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. AsrequiredbySection143(3)oftheActbasedonourauditwereportthat:

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 it appears from our examination of those books.

c. The Balance Sheet the Statement of Profit and Loss including other comprehensiveincome Statement of Changes in Equity and the Statement of Cash Flows dealt with by thisReport are in agreement with the books of account.

d. In our opinion the aforesaid merged standalone financial statements comply with theIndian Accounting Standards prescribed under Section 133 of the Act.

e. On the basis of the written representations received from the directors of theCompany as on March 31 2018 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2018 from being appointed as a director in termsof Section 164(2) of the Act.

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 A’. Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company’s internal financial controlsover financial reporting.

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 as amended inour opinion and to the best of our information and according to the explanations given tous :

(i) The Company does not have any pending litigations which would impact its financialposition.

(ii) The Company did not have any long-term contracts including derivative contractsfor which 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.

2. As required by the Companies (Auditor’s Report) Order 2016 (‘theOrder’) issued by the Central Government in terms of Section 143(11) of the Act wegive in ‘Annexure B’ a statement on the matters specified in paragraphs 3 and 4of the Order.

For UBS & Company

Chartered Accountants

FRN No. 012351N

Sd/-

SHISHIR GUPTA

Partner

M.NO.: 093589

DATE: 03.08.2018

PLACE: DELHI

Annexure A to the Independent Auditors’ Report

(Referred to in paragraph 1(f) under ‘Report on Other Legal and RegulatoryRequirements’ section of our report to the members of Aashee Infotech Limited of evendate)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofsub-section 3 of Section 143 of the Companies Act 2013 (‘the Act’)

We have audited the internal financial controls over financial reporting of AasheeInfotech Limited (‘the Company’) as of March 31 2018 in conjunction with ouraudit of the merged standalone financial statements of the Company for the year ended onthat date.

Management’s Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishing and maintaininginternal financial controls 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. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business the safeguarding of its assets the prevention and detection offrauds and errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Companies Act 2013.

Auditor’s Responsibility

Our responsibility is to express an opinion on the internal financial controls overfinancial reporting of the Company based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the ‘Guidance Note’) issued by the Institute of Chartered Accountantsof India and the Standards on Auditing prescribed under Section 143(10) of the CompaniesAct 2013 to the extent applicable to an audit of internal financial controls. 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 controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed 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 and appropriate toprovide a basis for our audit opinion on the Company’s internal financial controlssystem over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorizations ofthe management and directors of the company; and (3) provide reasonable assuranceregarding prevention or timely detection of unauthorized acquisition use or dispositionof the company’s assets that could have a material effect on the financialstatements.

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 to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2018 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

For UBS & Company

Chartered Accountants

FRN No. 012351N

SHISHIR GUPTA

Partner

M.NO. : 093589

DATE : 03.08.2018

PLACE : DELHI

Annexure B to the Independent Auditors’ Report

(Referred to in paragraph 2 under ‘Report on Other Legal and RegulatoryRequirements’ section of our report to the members of Aashee InfotechLimited of evendate)

i. InrespectoftheCompany’sfixedassets:

a.TheCompanyhasmaintainedproperrecordsshowingfullparticularsincludingquantitativedetailsand situation of fixedassets.

b. The fixed assets were physically verified by the management at reasonable intervals.As explained to us no material discrepancies have been noticed on such verification bythe management.

c. The company has no immovable property in its records. Hence order 3(i)(c) is notapplicable on the company.

i As explained to us inventories have been physically verified by the management atreasonable intervals during the year. As explained to us no material discrepancies havebeen noticed on physical verification of stocks as compared to book records.

ii. In our opinion and according to explanation given to us by the Company no loanssecured or unsecured have been granted to Companies/Firm/other Parties covered in theregister maintained U/s 189 of the Companies Act 2013 and hence clause (a) (b) and (c)are not attracted to the company.

iii. According to the information and explanation given to us no loans investmentguarantees and security is provided. Hence provisions of Section 185 & 186 of thecompanies Act 2013 are not applicable.

iv. In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public.

v. According to the information and explanation given to us the Central Government hasnot prescribed for the maintenance of cost record under sub-section (1) of section 148 ofthe Companies Act 2013.

vi. a)According to the information and explanations given to us the company is regularin depositing undisputed statutory dues including provident fund employees’ stateinsurance income tax service tax custom duty cess with appropriate authorities exceptvalue added tax which has been raised by the dvat department in relation to F.Y 2012-13& 2013-14 Rs. 1094822/- & 25383/-. The company is in process of appeal with thedvat appellate authority zonal delhi. The matter is subject to pending with thedepartment.

b) According to the information and explanations given to us there are no dues ofincome-tax or sales-tax or.service tax or duty of customs or excise or value added taxwith the appropriate authorities on account of any . dispute. vii. As per information andexplanations provided to us the company has not defaulted in repayment of loans orborrowing to a financial institution bank and government.

viii. As per information and explanations provided to us no moneys raised by way ofinitial public offer or further public offer (including debt instruments) and term loanswere applied for the purposes for which those are raised.

ix. According to the information and explanations given to us no fraud by the companyor any fraud on the company by its officers or employees has been noticed or reportedduring the year.

x. As per information and explanations provided to us managerial remuneration has beenpaid or provided in accordance with requisite approvals mandated by the provisions ofsection 197 read with Schedule V of the companies Act.

xi. As the company is not a Nidhi company. Hence this clause is not applicable.Therefore the provisions of clause 3(xii) of the order are not applicable.

xii. According to the information and explanation given to us and records of thecompany examined by us transaction with related parties are in compliance with section 177and 188 of the act where applicable and details of such transactions have been disclosedin the financial statements etc as required by the applicable Indian Accounting Standards(Ind AS).

xiii. According to the information and explanation given to us and records of thecompany examined by us the Company has not made any preferential allotment of sharesduring the year.

xiv. As per information and explanations provided to us the company has not enteredinto any non-cash transactions with directors or persons connected with him.

xv. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For UBS & Company

Chartered Accountants

FRN No. 012351N

Sd/-

SHISHIR GUPTA

Partner

M.NO. : 093589

DATE: 03.08.2018

PLACE: DELHI