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Jointeca Education Solutions Ltd.

BSE: 534659 Sector: IT
NSE: N.A. ISIN Code: INE131N01018
BSE 00:00 | 25 Jan 17.30 2.30
(15.33%)
OPEN

17.90

HIGH

17.90

LOW

12.10

NSE 05:30 | 01 Jan Jointeca Education Solutions Ltd
OPEN 17.90
PREVIOUS CLOSE 15.00
VOLUME 32000
52-Week high 19.75
52-Week low 12.10
P/E
Mkt Cap.(Rs cr) 17
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.90
CLOSE 15.00
VOLUME 32000
52-Week high 19.75
52-Week low 12.10
P/E
Mkt Cap.(Rs cr) 17
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Jointeca Education Solutions Ltd. (JOINTECAEDUCATI) - Auditors Report

Company auditors report

l'he Members

M/s Jointcca Education Solutions Limited Mathura

Opinion

We have audited the standalone financial statements of M/s Jointccu Education SolutionsLimited ("the Company") which comprises the balance sheet as at March 31. 2021and the statement of Profit and Loss and the statement of cash flows for the year thenended and notes to the financial statements including a summary of significantaccounting policies and other explanatory information

In our opinion and to the best of our information and according to the explanationsgiven to us. the aforesaid financial statements give a true and fair view of in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at March 31st. 2d?. I and loss and its cash flows for the year ended on thisdate.

Basis for Opinion

We conducted our audit in accordance with Standards on Auditing (SAs) specifiedunder.scetion I43i. 10) of the Companies Act 2013. Our responsibilities under thoseStandards arelurlhcr described in the Auditor's Responsibilities for the Audit of theFinancial Statcmcntsseciiou of our report. We are independent of the Company in accordancewith the Code ofLihics issued by the Institute of Chartered Accountants of India togetherwith the cthicalrcquiremenis that are relevant to our audit of the financial statementsunder the provisions of the Companies Act. 2013 and we have fulfilled our other ethicalresponsibilities in aceordanccwitli these requirements and the IC'ALs Code of Lillies. Webelieve that the audit evidence wehavo obtained is sufficient and appropriate to provide abasis for our qualified opinion.

Emphasis of Matter

We draw attention to the fact that no confirmation of the amount of trade receivablesof INR 15.25.281 in Schedule 2.10 and short term loans and advances of INR 17.30000 inSchedule 2.12 have been furnished to us. hence we are unable to comment whether flicamount is recoverable or not. I lowever our opinion is not modified in respect of thismailer.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters suited in Section134(5) of the Companies Act. 2013 ("the Act") with respect to the preparation ofthese standalone

performance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand 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 financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

The board of directors are also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibility

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

Rcporl on Other Legal and Regulatory Requirements

!. As required by the Companies (Auditor's Report) Order 2016 (‘‘TheOrder") as amended issued by the Central Government of India in terms ofsub-section (11) of section 143 of the Actwe give in the "Annexure A" statementon the matters specified in paragraphs 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 hooks;

(c) The Balance Sheet. Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account;

(d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act. read with Rule 7 of the Companies(Accounts) Rules. 2014;

(e) On the basis of the written representations received from the directors as on 31stMarch. 2021 taken on record by the Board of Directors none of the directors isdisqualified as on 31 st March 2021 from being appointed as a director in terms ofSection 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

(g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 1 1 of the Companies (Audit and Auditors) Rules. 2014. in our opinionand to the best of our information and according to the explanations given lo us:

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 contracts lorwhich there were any material foreseeable losses.

III. Tliere were no amount which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

"ANNEXURE A" TO THE AUDITOR'S REPORT

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory' Requirements' of our report of even date to the financial statements of theCompany for the year ended March 31 2021:

1. FIXED ASSETS

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

b) According to the documents and explanations provided to us. the fixed assets havebeen physically verified by the Management and no material discrepancies have been noticedon such verification as stated by the Management;

c) In our opinion the Company has not disposed of any substantial part of its fixedassets so as to affect its going concern status.

2. INVENTORIES

a) There is no closing inventory with the Company.

3. As explained to us the Company has not granted any loans secured or unsecured tocompanies firms. Limited Liability partnerships or other parties covered in the Registermaintained under section 189 of the Act.

4. The Company has a loan oflNR 6513857 from a NBFC and 1NR 2054270 from Mr VishalMishra (Director) and 500000 as inter- corporate deposit as at 31st March2021. Further the Company has advanced moneys to few of the employees as imprest in cashand subsequently recovered from them in cash.

5. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Companies Act 2013in respect of loans investments guarantees and security.

6. The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from the public are not applicable.

7. To the best of our knowledge and as explained the maintenance of Cost Records hasnot been specified by the Central Government under sub-section (1) of Section 148 of theAct. in respect of the activities carried on by the company.

8. STATUTORY DUES

a) According to information and explanations given to us and on the basis of ourexamination of the books of account and records the Company is regular in depositingundisputed statutory dues including Income Tax GST Service Tax except for ProvidentFund Employees State Insurance with the appropriate

authorities. Further 1NR 46395 in respect oflncome Tax is outstanding as at March 31.2021 for a period of more than six months from the date on when they become payable.

b) According to the information and explanation given to us. there are no dues ofincome tax. sales tax service tax duty of customs duty of excise value added taxoutstanding on account of any dispute.

9. In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to banks.

10. Rased upon the audit procedures performed and the information and explanationsgiven by tire management during the year the company has not raised moneys by way ofinitial public offer or further public offer including debt instruments and term Loans.

i I. Based upon the audit procedures performed and the information and explanationsgiven by the management we report that no fraud by the Company or on the company by itsofficers or employees has been noticed or reported during the year.

12. Based upon the audit procedures performed and the information and explanationsgiven by the management the managerial remuneration has been paid or provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act.

13. In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 4 (xii) of the Order are not applicable to the Company.

14. In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 and the details have been disclosed in theFinancial Statements as required bv the applicable accounting standards.

15. Based upon the audit procedures performed and the information and explanationsgiven by the management during the year the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year under review.

16. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (\v) ofthe Order are not applicable to the Company and hence not commented upon.

"ANNEXURK B" TO THE AUDITOR'S REPORT

Report oit the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of JointecaEducation Solutions Limited ("the Company") as of March 31 2021 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat date.

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 deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of interna) financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance atom whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls 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 proceduresselected depend on the auditor's judgement including the assessment of the risks ofmateria) misstatement of (he financial 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 (I) 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 authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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.

17. In our opinion the company is not required to be registered under section 45 1A ofthe Reserve Bank of India Act. 1934 and accordingly the provisions of clause 3 (xvi) ofthe Order are not applicable to the Company and hence not commented upon.

For S.B. Ciupta &Co.
Chartered Accountants
Firm's Registration No: 000992C
Place : Mathura CA Sunil Kumar Singhal
Date : 28.06.202 t Partner
(Membership No. 0706i l)

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