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Kama Holdings Ltd.

BSE: 532468 Sector: Industrials
NSE: N.A. ISIN Code: INE411F01010
BSE 00:00 | 19 Sep 5606.70 10.45






NSE 05:30 | 01 Jan Kama Holdings Ltd
OPEN 5551.00
52-Week high 6044.00
52-Week low 2650.00
P/E 97.85
Mkt Cap.(Rs cr) 3,616
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5551.00
CLOSE 5596.25
52-Week high 6044.00
52-Week low 2650.00
P/E 97.85
Mkt Cap.(Rs cr) 3,616
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Kama Holdings Ltd. (KAMAHOLD) - Auditors Report

Company auditors report




Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of KAMA HOLDINGSLIMITED("the Company") which comprise the Balance Sheet as at 31st March 2017the Statement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of the significant accounting policies and other explanatory information.

Management's Responsibility for the 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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance 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.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under and the Order under section 143(11)of the Act.

We conducted our audit of the standalone financial statements in accordance with theStandards on Auditing specified under Section 143(10) of the Act. Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

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


In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2017;

b) in the case of the Statement of Profit and Loss of the Profit for the year ended onthat date; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

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 of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure ‘A' a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable to the Company.

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 it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2017 taken on record by the Board of Directors none of the directors isdisqualified as on31st March 2017 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 over financialreporting of the Company and the operating effectiveness of such controls it is theprimarily responsibility of the Board of Directors to see the Controls and reporting areeffective and faithful. During the course of audit it has been observed that Board ofDirectors have made adequate arrangement for the same and it is being operatedeffectively.

(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 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements Refer Note Para B(1)(1.1) of annexure to thefinancial statements.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

iv. The company has provided requisite disclosures in the financial statements as toholding as well as dealing in specific Bank Notes during the period from 8th November2016 and 30th December 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with books of accountsmaintained by the company as produced to us by the management (refer Note Para B (10)).

For Thakur Vaidyanath Aiyar & Co.
Chartered Accountants
FRN: 000038N
(V. Rajaraman)
M. No. : 002705
Place: New Delhi


Annexure ‘A' referred to in paragraph 1 under the heading "Report on OtherLegal and Regulatory Requirements" of Independent Auditors' Report of even date onthe Financial Statements for the year ended March 312017

i) Fixed Assets

The company has no fixed assets therefore this clause is not applicable.

ii) Inventories

Since the company does not have inventories during the year under audit hence clause(ii) of the order is not applicable.

iii) Transactions with Parties covered under Section 189 of the Act

The company has granted interest free unsecured loan to the following wholly ownedsubsidiary companies covered in the register maintained under section 189 of the Act.

(Rs in crores)
Name of the Party Outstanding balance as on 01.04.2016 Loan given during the year Refund received during the year Outstanding Balance as on 31.03.2017
KAMA Realty (Delhi) Limited 4.30 0.21 4.51
SRF Transnational Holding Limited 56.48 39.25 11.51 84.22
Shri Educare Ltd - 1.25 - 1.25
Total 60.78 40.71 16.02 85.47

(a) The terms and conditions of the grant of such loans are not prejudicial to thecompany's interest.

(b) The loan is repayable on demand and the same have been repaid wherever demanded.

(c) There is no over due amount of principal and interest as at the year end.

iv) Loans Investments Guarantees& Securities etc. covered u/s 185 & 186 of theAct

In our opinion and according to the information and explanations given to us theCompany has complied with the provision of Sections 185 & 186 of the Companies Act2013 in respect of grant of loans making investments and providing guarantees andsecurities as applicable.

v) Deposits

The company has not accepted any deposits during the year or in earlier years which arecovered under the directives issued by the Reserve Bank of India or under the provisionsof Section 73 to 76 or any other relevant provisions of the Act and the rules framed thereunder where applicable.

vi) Cost Records

The requirements of maintenance of cost records under Section 148 (1) of the CompaniesAct 2013 is not applicable to the company.

vii) Statutory Dues & Requirements

According to the books of accounts and records examined by us and the information andexplanation given to us the company has been regular in depositing undisputed statutorydues including provident fund employees state insurance income tax sales tax servicetax duty of customs duty of excise value added tax cess and other statutory dues whereapplicable with the appropriate authorities.

a. No amount is payable in respect of the statutory dues as mentioned above wereoutstanding as at March 312017 for a period of more than six months from the date theybecome payable.

b. The details of disputed dues of Income Tax which have not been deposited as on 31stMarch 2017 are given below:-

Nature of Statute Where dispute is Forum Pending Nature of dues Period of Dispute Amount (Rs In Crores)
High Court 2003-04 0.06
Supreme Court 2007-08 0.37
Appellate Tribunal 2003-10 0.10
Commissioner (Appeals) 2014-15 0.02
Total 0.55

viii) The Company has not taken loans or borrowing from financial institutionsbank Government and no dues are outstanding against debenture holders hence this clauseof the order is not applicable.

ix) The Company has not raised any money by way of initial public offer or furtherpublic offer (including debts instruments). The Company has not taken any term loan fromfinancial institutions.

x) Based upon the audit procedures performed and on the basis of information andexplanations provided by the management we report that no frauds by the company or anyfraud on the company by its officers or employees has been noticed or reported during theyear.

xi) The Managerial remuneration has been paid in accordance with the requisiteapprovals mandated by the provisions of section 197 read with schedule V to the CompaniesAct 2013.

xii) The Company is not a Nidhi Company and hence this clause is not applicable.

xiii) According to the records of the company and information and explanationprovided to us all the transactions with the related parties are in compliance withSection 177 and 188 of the Companies Act 2013 and the details have been disclosed in theFinancial Statement as required by the applicable Accounting Standards.

xiv) The Company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review as such theclause is not applicable to the company.

xv) As per the records of the company and information and explanation provided tous the company has not entered into any non-cash transactions with directors or otherpersons connected with him and hence the clause is not applicable to the company.

xvi) The Company is not required to get registered as NBFC under Section 45-IA ofthe Reserve Bank of India Act 1934.

For Thakur Vaidyanath Aiyar & Co.
Chartered Accountants
FRN: 000038N
(V. Rajaraman)
M.No. : 002705
Place: New Delhi
Date: 30-05-2017