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Kashyap Tele-Medicines Ltd.

BSE: 531960 Sector: IT
NSE: N.A. ISIN Code: INE108B01029
BSE 00:00 | 03 Mar Kashyap Tele-Medicines Ltd
NSE 05:30 | 01 Jan Kashyap Tele-Medicines Ltd
OPEN 0.68
PREVIOUS CLOSE 0.68
VOLUME 11800
52-Week high 0.68
52-Week low 0.00
P/E 68.00
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.68
Sell Qty 200.00
OPEN 0.68
CLOSE 0.68
VOLUME 11800
52-Week high 0.68
52-Week low 0.00
P/E 68.00
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.68
Sell Qty 200.00

Kashyap Tele-Medicines Ltd. (KASHYAPTELEMED) - Auditors Report

Company auditors report

To

The Members

KASHYAP TELE-MEDICINES LIMITED

Mumbai

Report on the Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statements of KashyapTele-Medicines Limited. CIN L29110MH1995PLC085738 ("the Company") whichcomprise the Balance Sheet as at 31st March 2018 the Statement of Profit andLoss (including Other Comprehensive Income) the Cash Flow Statement and the Statement ofChanges in Equity for the year ended and a summary of the significant accounting policiesand other explanatory information (herein after referred to as "Ind AS financialstatements").

Management’s Responsibility for the Ind AS Financial Statements

The Company’s Board of Directors are responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone Ind AS 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 accounting principlesgenerally accepted in India including the Indian Accounting Standards (Ind AS) prescribedunder Section 133 of the Act read with relevant rules issued there under.

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 standalone IndAS 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 Ind AS 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 there under.

We conducted our audit of the standalone Ind AS 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 standalone Ind AS financial statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone Ind AS financial statements. The procedures selecteddepend on the auditor’s judgment including the assessment of the risks of materialmisstatement of the standalone Ind AS 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 standalone Ind AS 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 standaloneInd AS financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS 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 31st March 2018 and its Profit/loss total comprehensive incomeits cash flows and the changes in equity for the year ended on that date.

Report on other Legal and Regulatory Requirements

1 As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub Section (11) ofSection 143 of the Act we give in the "Annexure – A" a statement on thematters specified in paragraphs 3 and 4 of the Order to the extent applicable.

2. As required by Section 143(3) of the Act we report to the extent applicable that:a) We have sought and obtained all the information and explanations which to the best ofour knowledge and belief were necessary for the purposes of our audit; b) In our opinionproper books of accounts as required by law have been kept by the Company so far as itappears from our examination of those books; c) The balance sheet the statement of Profitand loss including Other comprehensive income the statement of cash flows and statementof changes in equity dealt with by this Report are in agreement with the books of account;d) In our opinion the aforesaid standalone Ind AS financial statements comply with theAccounting Standards specified under Section 133 of the Act read with relevant ruleissued there under;

KASHYAP TELE-MEDICINES LIMITED

e) On the basis of written representations received from the directors as on 31st March2018 taken on record by the Board of Directors none of the directors is disquali3ed as on31stMarch 2018 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 overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate report in "Annexure A"; and g) With respect to the other mattersto 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 our best of our information andaccording to the explanations given to us : i. the Company do not have any pendinglitigations on its financial position in its standalone Ind AS financial statements; ii.the Company did not have any long-term contracts including derivatives contracts for whichthere were any material foreseeable losses; iii. there were no amounts which were requiredto be transferred to the Investor Education and Protection Fund by the Company.

2. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub Section (11) ofSection 143 of the Act we give in the "Annexure – B" a statement on thematters specified in paragraphs 3 and 4 of the Order to the extent applicable.

For Saremal & Co.
Firm Registration No. 109281W
Chartered Accountants
Pravin Lavana
Place : Ahmedabad Partner
Date : 19th May 2018 Mem. No. 037180

Annexure -A to the Independent Auditors’ Report

(Referred to in paragraph 1(f) under ‘Report on Other Legal and RegulatoryRequirements’ section of our Report of even date)

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 KashyapTele-Medicines Limited ("the Company") as of 31st March 2018 inconjunction with our audit of standalone Ind AS financial statements of the Company forthe year ended on that 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 (‘ICAI’). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and e3cientconduct of its business including adherence to company’s policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the 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") issued by the Institute of Chartered Accountants of Indiaand the Standards on Auditing prescribed under Section 143(10) of the Companies Act2013 to the extent applicable to an audit of internal financial controls. Those Standardsand the Guidance Note require that we comply with ethical requirements and plan andperform the audit to obtain reasonable assurance about whether adequate internal financialcontrols over financial reporting was established and maintained and if such controlsoperated 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 judgment including the assessment of the risks ofmaterial misstatement of the standalone Ind AS financial statements whether due to fraudor 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 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 and to the best of our information and according to the explanationsgiven to us the Company has in all material respects an adequate internal financialcontrols system over financial reporting and such internal financial controls overfinancial reporting were operating effectively as at 31st March 2018 based onthe internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India.

For Saremal & Co.
Firm Registration No. 109281W
Chartered Accountants
Pravin Lavana
Place : Ahmedabad Partner
Date : 19th May 2018 Mem. No. 037180

ANNEXURE - B TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal and RegulatoryRequirements’ section of our Report of even date)

(i) a) The Company has maintained proper records showing full particulars includingquantitative details and situation of its 3xed assets; b) The Company do not have any 3xedassets during the respective financial year; c) According to the information andexplanations given to us and on the basis of our examination of the records of theCompany the title deeds of the immovable property are held in the name of the Company.

(ii) As explained to us the Company do not have any inventory during the respectivefinancial year.

(iii) According to information and explanation given to us the Company has not grantedloans secured or unsecured to companies 3rms Limited Liability Partnerships or otherparties covered in the register maintained under Section 189 of the Companies Act 2013.

(iv) In our opinion and according to information and explanations given to us theCompany has complied with the provisions of Sections 185 and 186 of the Companies Act2013 in respect of loans investments guarantees and security.

(v) According to information and explanation given to us the Company has not acceptedany deposits as defined in The Companies (Acceptance of Deposits) Rules 2014. Accordinglythe provision of Clause 3(v) of the Order is not applicable to the Company.

(vi) The Central Government has not prescribed maintenance of cost records undersub-section(1) of Section 148 of the Companies Act 2013 for any of the services renderedby the Company. (vii) (a) According to the information and explanations given to us and onthe basis of our examination of the records of the Company amounts deducted/accrued inthe books of account in respect of undisputed statutory dues including provident fundincome-tax sales tax value added tax employee state insurance service tax goods andservice tax cess and other material statutory dues have been regularly deposited duringthe year by the Company with the appropriate authorities. As explained to us the Companydid not have any dues on account of employees’ state insurance and duty of excise andcustom.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax goods and service tax sales tax valueadded tax duty of custom employee state insurance service tax cess and other materialstatutory dues were in arrears as at 31st March 2018 for a period of more thansix months from the date they became payable.

(b) According to information and explanations given to us the Company has no disputedoutstanding statutory dues as at 31st March 2018

(viii) In our opinion and according to information and explanations given to us theCompany has not defaulted in the repayment of loans and borrowings to financialinstitutions banks government or dues to debenture holders during the year.

(ix) In our opinion and according to information and explanations given to us theCompany did not raise any money by way of initial public o3er or further public o3er(including debt instruments) and term loans during the year. Accordingly paragraph 3 (ix)of the Order is not applicable.

(x) To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company and no material fraud on the Company by its Officersor employees has been noticed or reported during the course of our audit.

(xi) In our opinion and according to the information and explanations give to us andbased on our examination of the records of the Company the Company has not paid/providedany managerial remuneration. Accordingly reporting under clause 3(xi) of the Order is notapplicable to the Company.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly reporting under clause 3(xii) of the Order isnot applicable.

(xiii) In our opinion and according to the information and explanations given to usthe Company is in compliance with Sections 177 and 188 of the Act where applicable for alltransactions with related parties and details of such transactions have been disclosed inthe standalone Ind AS financial statements as required by the applicable accountingstandards.

(xiv) During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures and therefore the reportingunder clause(xiv) of the Order is not applicable to the Company.

(xv) In our opinion and according to the information and explanations given to usduring the year the Company has not entered into non-cash transactions with directors orpersons connected with him. And hence provisions of Section 192 of the Companies Act 2013are not applicable.

(xvi) The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934

For Saremal & Co.
Firm Registration No. 109281W
Chartered Accountants
Pravin Lavana
Place : Ahmedabad Partner
Date : 19th May 2018 Mem. No. 037180