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JLA Infraville Shoppers Ltd.

BSE: 538765 Sector: Others
NSE: N.A. ISIN Code: INE401Q01018
BSE 00:00 | 14 Jan 4.01 0
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NSE 05:30 | 01 Jan JLA Infraville Shoppers Ltd
OPEN 4.02
PREVIOUS CLOSE 4.01
VOLUME 25000
52-Week high 15.95
52-Week low 2.26
P/E 66.83
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.02
CLOSE 4.01
VOLUME 25000
52-Week high 15.95
52-Week low 2.26
P/E 66.83
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

JLA Infraville Shoppers Ltd. (JLAINFRAVILLE) - Auditors Report

Company auditors report

THE MEMBERS OF JLAINFRAVILLE SHOPPERS LIMITED

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS:

1) QUALIFIED OPINION

We have audited the accompanying financial statements of JLA INFRAVILLE SHOPPERS LIMITED ('the Company') which comprise the balance sheet as at 31 March 2019 and the statement of profit and loss (Including Other Comprehensive Income) the statement of changes in Equity and the Statement of cash flojys for the year then ended and a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us except for the effects of the matters described in the Basis for Qualified Opinion section of our report the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Company as at 31st March 2019 and its profit and its cash flows for the year ended on that date.

2) BASIS FOR QUALIFIED OPINION

Balances of Loans and Advances and Unsecured Loans are subject to confirmation (Refer Note No: 25(ix) of Annual Accounts).

We conducted our audit in accordance with 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 to be prescribed under section 143(10) of the Companies Act 2013 to the extent applicable to an audit of internal financial controls both applicable to an audit of Internal Financial Controls and both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respect. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

3) KEY AUDIT MATTERS

Key audit matters are those matters that in our professional judgment were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole and in forming our opinion thereon and we do not provide a separate opinion on these matters.

DESCRIPTION OF KEY AUDIT MATTERS

1. Company is generating material cash inflows from catering and restaurants services which is shown as other income.

2. In GSTR 1 Company has shown Exempt sales as (B to B) zero rated sales. Although it has no impact on the GST liability of the Company since it is correctly mentioned in GSTR 3B.

4) RESPONSIBILITES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR THE FINANCIAL STATEMENTS

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act 2013 (the Act) with respect to the preparation of these financial statements that give a true and fair view of the financial position financial performance including other comprehensive income cash flows and 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 (Indian Accounting Standards) Rules 2015 as amended and other accounting principles generally accepted in India.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records relevant to the preparation and presentation of financial statements that give a true and fair view and are free from material misstatement whether due to fraud or error.

In preparing the financial statements the Board of Directors is responsible for assessing the Company's ability to continue as a going concern disclosing as applicable matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Company's financial reporting process.

6) AUDITOR'S REPONSIBILITY:

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement whether due to fraud or error and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if individually or in the aggregate they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

7) REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS:

I) As required by the Companies [Auditor's Report) Order2016 [the Order) issued by the Central Government of India in terms of sub section (11) of section 143 of the Act we give in the Annexure A a statement on the matters specified in the paragraph 3 and 4 of the order to the extent applicable.

II) 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 best of 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 the Company so far as it appears from our examination of those books;

c. The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the books of account;

d. In our opinion the aforesaid financial statement comply with the Indian Accounting Standards specified under section 133 of the Act.

e. On the basis of written representations received from the directors as on 31st March 2019 and taken on record by the Board of Directors none of the directors is disqualified as on 31st March 2019 from being appointed as a director in terms of Section 164(2) of the Act;

f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls refer to our separate report in Annexure B and;

g. With respect to other matter to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors') Rules 2014 in our opinion and to the best of our information and according to the explanations given to us and as confirmed by the management of the company:-

i) There are no pending litigations on the company in respect of which a provision is required to be made.

ii) The company has made provisions as required under the applicable law or accounting standards for material foreseeable losses if any on long term contracts including derivative contracts;

iii) There are no amounts required to be transferred to the Investor Education and Protection Fund by the company.

The Annexure 'A' referred to in Independent Auditors' Report to the members of JLA INFRAVILLE SHOPPERS LIMITED on the financial statements for the year ended 31st March 2019.

Based on test checks and other generally accepted auditing procedures carried on by us and according to the information and explanations given to us we report that:-

(i) (a) The management has certified that proper records showing full particulars including quantitative details and situation of fixed assets has been maintained However the same was not produced for verification to us.

(b) All the assets have been physically verified by the Management during the year and there is a regular programme of verification which in our opinion is reasonable having regard to the size of the Company and the nature of its assets. No discrepancies were noticed on such verification.

(c) There are no immovable properties in the books of Company hence Para (i)(c) is not applicable.

(ii) Physical verification of inventory has been conducted at reasonable intervals by the management and no material discrepancies were noticed on physical verification.

(iii) The Company has not granted any loans to body corporate covered in the register maintained under section 189 of the Companies Act 2013 (the Act).

(iv) In our opinion and according to the information and explanations given to us the Company has neither granted any loans to directors etc. prescribed u/s 185 of the Act nor has made any loan and investment prescribed u/s 186 of the Act hence para (iv) of the order is not applicable.

(v) The Company has not accepted any deposits from the public.

(vi) The Central Government has not prescribed the maintenance of the cost records under section 148(1) of the Act for any of the services rendered by the company.

(vii) (a) The company is regular in depositing with appropriate authorities undisputed statutory including income tax service tax custom duty and other material statutory dues applicable to it.

Further to our information no undisputed amounts in respect of statutory dues were in arrears as at 31 March 2019 for a period of more than six months from the date these became payable.

(b) Further according to the information and explanations given to us there are no dues of income tax service tax and other material statutory dues which have not been deposited with the appropriate authorities on account of any dispute. Provident fund excise duty and cess are not applicable to the Company.

(viii) The Company has taken a vehicle loan from Bank and there is no default in the repayment of the same.

(ix) The Company did not raise any money by way of initial public offer or further public offer (including debt instruments) and term loans during the year. Accordingly paragraph 3(ix) of the order is not applicable.

(x) According to the information and explanations given to us no material fraud by the Company or on the Company by its officers or employees has been noticed or reported during the course of our audit.

(xi) The Company has not paid any managerial remuneration during the year.

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

(xiii) According to the information and explanations given to us and based on our examination of the records of the Company transactions with the related parties as identified by the management of the Company are in compliance with Sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable accounting standards.

(xiv) According to the information and explanations given to us and based on our examination of the records of the Company the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.

(xv) According to the information and explanations given to us and based on our examination of the records of the Company the Company has not entered into noncash transactions with directors or persons connected with him. Accordingly paragraph 3(xv) of the Order is not applicable.

(xvi) The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act 1934.

Annexure `B' to the Auditors' Report referred to in paragraph 5(IF)f of our Independent Auditors' Report to the members of JLA INFRAVILLE SHOPPERS LIMITED on the financial statements for the year ended 31st March 2019.

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 JLA 1NFRAVILLE SHOPPERS LIMITED (the Company) as of 31st March 2019 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (`ICAI'). These responsibilities includ^ the design implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business including adherence to company's policies the safeguarding of its assets the prevention and detection of frauds and errors the accuracy and completeness of the accounting records and the timely preparation of reliable financial information as required under the Companies Act 2013.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with 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 to be prescribed under section 143(10) of the Companies Act 2013 to the extent applicable to an audit of internal financial controls both applicable to an audit of Internal Financial Controls and both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respect.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting assessing the risk that a material weakness exists and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment including the assessment of the risks of material misstatement of the financial statements whether due to fraud or error.

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

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that in reasonable details accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition use or disposition of the company'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 financial reporting including the possibility of collusion or improper management override of controls material misstatements due to error or fraud may occur and not be detected. Also projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March 2019 based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

FOR V. P. ADITYA & COMPANY

CHARTERED ACCOUNTANTS

PARTNER M.No.: 411567

Place: Bangalore

Dated 29.05.2019

Auditors' Report On Yearly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

To

The Board of Directors

JLA INFRAVILLE SHOPPERS LTD.

Kanpur

We have audited the yearly financial results of [LA INFRAVILLE SHOPPERS LTD (`the Company') for the period 01.04.2018 to 31.03.2019 attached herewith being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. These financial results have been prepared on the basis of the yearly financial statements which are the responsibility of the company's management Our responsibility is to express an opinion on these financial results based on our audit of such yearly financial statements which have been prepared in accordance with the Accounting Standard notified under Section 133 of the Companies Act 2013 read with relevant rules issued there under and other accounting principles generally accepted in India.

We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement. An audit includes examining on a test basis evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanations given to us these yearly financial results:

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 in this regard; and

(ii) give a true and fair view of the net profit and other financial information for the year ended 31st March 2019

For V.P. ADITYA & COMPANY

Partner M. No. 411567

Place: Bangalore

Dated: 29.05.2019

.