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Likhami Consulting Ltd.

BSE: 539927 Sector: Others
NSE: N.A. ISIN Code: INE920T01011
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NSE 05:30 | 01 Jan Likhami Consulting Ltd
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VOLUME 1
52-Week high 51.95
52-Week low 42.00
P/E 2500.00
Mkt Cap.(Rs cr) 50
Buy Price 49.50
Buy Qty 21.00
Sell Price 54.50
Sell Qty 16.00
OPEN 50.00
CLOSE 50.00
VOLUME 1
52-Week high 51.95
52-Week low 42.00
P/E 2500.00
Mkt Cap.(Rs cr) 50
Buy Price 49.50
Buy Qty 21.00
Sell Price 54.50
Sell Qty 16.00

Likhami Consulting Ltd. (LIKHAMICONSULT) - Auditors Report

Company auditors report

To the Members of

Likhami Consulting Limited

Report on the Financial Statements: -

We have audited the accompanying financial statements of Likhami Consulting Limited("the Company") which comprise the Balance Sheet as at 31st March 2019 theStatement of Profit and Loss (including Other Comprehensive Income) the Cash FlowStatement and the Statement of Changes in Equity for the year then ended and a summary ofthe significant accounting 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 the information required by theCompanies Act 2013 ('the Act’) in the manner so required and give a true and fairview in conformity with the accounting principles generally accepted in India of thestate of affairs of the Company as at 31 March 2019 its profit (including othercomprehensive income) changes in equity and its cash flows for the year ended on thatdate.

Basis for Opinion: -

We have conducted our audit in accordance with the Standards on Auditing (SAs)specified under Section 143(10) of the Act. Our responsibilities under those SAs arefurther described in the Auditor’s Responsibilities for the Audit of the financialStatements section of our report. We are independent of the Company in accordance with theCode of Ethics issued by the Institute of Chartered Accountants of India together with theethical requirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules thereunder and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our opinion.

Key Audit Matters: -

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

We have determined that there are no key audit matters to communicate in our report.

Other Information: -

The Company’s management and Board of Directors are responsible for the otherinformation. The other information comprises the information included in theCompany’s annual report but does not include the financial statements and ourauditors’ report thereon.

Our opinion on the financial statements does not cover the other information and we donot express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the other information ismaterially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If based on the work we haveperformed we conclude that there is a material misstatement of this other information weare required to report that fact. We have nothing to report in this regard.

Management's Responsibility for the 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 financial statements that give a true and fair view of the financial positionfinancial performance (including other comprehensive income) cash flows and changes inequity of the Company in accordance with the accounting principles generally accepted inIndia including the Indian Accounting Standards ("IND AS") specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

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 butto 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 ahigh level of assurance but is not a guarantee that an audit conducted in accordance withSAs will always detect a material misstatement when it exists. Misstatements can arisefrom fraud 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.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statementswhether due to fraud or error design and perform audit procedures responsive to thoserisks and obtain audit evidence that is sufficient and appropriate to provide a basis forour opinion. The risk of not detecting a material misstatement resulting from fraud ishigher than for one resulting from error as fraud may involve collusion forgeryintentional omissions misrepresentations or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to designaudit procedures that are appropriate in the circumstances. Under Section 143(3) (i) ofthe Act we are also responsible for expressing our opinion on whether the company hasadequate internal financial controls with reference to financial statements in place andthe operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by management.

Conclude on the appropriateness of management’s use of the going concern basis ofaccounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on theCompany’s ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor’s report to therelated disclosures in the financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor’s report. However future events or conditions may cause theCompany to cease to continue as a going concern.

Evaluate the overall presentation structure and content of the financial statementsincluding the disclosures and whether the financial statements represent the underlyingtransactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the financial statements of thecurrent period and are therefore the key audit matters. We describe these matters in ourauditors’ report unless law or regulation precludes public disclosure about thematter or when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

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 "Annexure A" a statement on the mattersspecified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act based on our audit we report to theextent applicable 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 financial statements dealt with by this Report are in agreement with therelevant books of account;

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

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

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

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 does not have any pending litigations which would have any materialimpact on its financial Position;

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;

For Mohindra Arora & Co.
Chartered Accountants
Firm registration No: 006551N
Ashok Katial
Partner
Membership No: 09096
Place: Kolkata
Date: May 272019

(Referred to in paragraph 1 under the heading ‘Report onOther Legal and Regulatory Requirements' of our Report of even date)

i. In respect of its fixed assets:

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

b. As explained to us the fixed assets have been physically verified by the managementat reasonable intervals. No material discrepancies were noticed on such physicalverification.

c. According to the information and explanations given to us there are no immovableproperties owned by the Company under Fixed Assets. Accordingly paragraph 3 (i) (c) ofthe Order is not applicable to the Company.

ii. The Company does not have any inventory. Accordingly clauses (ii) of paragraph 3of the Order is not applicable to the Company.

iii. The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained underSection 189 of the Companies Act 2013. Accordingly clauses 3 (iii) (a) to (c) ofparagraph 3 of the Order are not applicable to the Company.

iv. According to the information and explanations given to us the company has notprovided any loans guarantees or securities which fall under the purview of Section 185of the Companies Act 2013. The Company has complied with the provisions of Section 186 ofthe Act in respect of investments made and outstanding at the year- end.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public in terms of the directives issuedby the Reserve Bank oflndia and the provisions of Sections 73 to 76 of the Act or anyother relevant provisions of the Companies Act 2013 and the Rules framed thereunder.Accordingly clause (v) of paragraph 3 of the Order is not applicable to the Company.

vi. As informed to us the maintenance of Cost Records has not been specified by theCentral Government under sub - section (1) of Section 148 of the Companies Act 2013 inrespect of the activities carried on by the Company. Accordingly clause (vi) of paragraph3 of the Order is not applicable to the Company.

vii. In respect of statutory dues:

a. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company is generally regular in depositingundisputed statutory dues including provident fund employees’ state insuranceincome tax sales-tax goods & service tax duty of customs duty of excise valueadded tax cess and any other statutory dues as applicable to the Company with theappropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of the aforesaid statutory dues were outstanding as at 31st March2019 for a period of more than six months from the date they became payable.

b. According to the records of the Company there are no dues of income tax or salestax or goods & service tax or duty of customs or duty of excise or value added taxwhich have not been deposited on account of any dispute.

viii. The Company has not raised /obtained any loans or borrowings from financialinstitutions or banks or government or by issue of debentures. Accordingly paragraph 3(viii) of the Order is not applicable to the Company.

ix. The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3 (ix) of the Order is not applicable to the Company.

x. According to the information and explanations given to us and based on auditprocedures performed and representations obtained from the management we report that nofraud by the Company or any fraud on the company by its officers or employees has beennoticed or reported during the year under audit.

xi. According to the information and explanations given to us the Company has paid /provided managerial remuneration in accordance with the requirements of the provisions ofSection 197 read with Schedule V to the Companies Act2013.

xii. According to the information and explanations given to us the Company is not aNidhi Company. Accordingly paragraph 3 (xii) of the Order is not applicable to theCompany.

xiii. According to the information and explanations given to us during the year underreview the Company has not entered into any transaction with Related Parties that requireapproval under Section 177 and Section 188 of the Companies Act 2013 and the Rules madethereunder. Accordingly paragraph 3 (xiii) of the Order is not applicable to the Company.

xiv. During the year under review the Company has not made any preferential allotmentor private placement of shares or fully or partly convertible debentures. Accordinglyparagraph 3(xiv) of the Order is not applicable to the Company.

xv. According to the information and explanations given to us the Company has notentered into any non-cash transactions with its directors or persons connected to itsdirectors hence provisions of Section 192 of the Companies Act 2013 are not applicableto the company. Accordingly reporting under clause (xv) of Paragraph 3 of the Order isnot applicable to the Company.

xvi. According to the information and explanations given to us the Company is notrequired to be registered under Section 45- IA of the Reserve Bank ofindia Act 1934.

For Mohindra Arora & Co.
Chartered Accountants
Firm registration No: 006551N
Ashok Katial
Partner
Membership No: 09096
Place: Kolkata
Date: May 272019

(Referred to in paragraph 2(f) under the heading ‘Report onOther Legal and Regulatory Requirements' section of our Report of even date)

Independent Auditors' Report on the Internal Financial Controlsunder Clause (i) of Sub-section 3 of Section 143 of the Companies Act 2013 ("theAct")

We have audited the internal financial controls over financial reporting of LikhamiConsulting Limited ("the Company") as of 31st March 2019 in conjunction withour 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 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 theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditor's 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 Act 2013to the extent applicable to an audit of internal financial controls. Those standards andthe Guidance Note require that we comply with ethical requirements and plan and performthe 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 judgement including the assessment of the risks ofmaterial misstatement of the 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 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 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 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 31st March 2019 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 Mohindra Arora & Co.
Chartered Accountants
Firm registration No: 006551N
Ashok Katial
Partner
Membership No: 09096
Place: Kolkata
Date: May 272019