Moneyboxx Finance Limited
Report on the Audit of the Standalone Financial Statements Opinion
We have audited the accompanying Standalone financial statements of Moneyboxx FinanceLimited (Formerly Known as Dhanuka Commercial Limited) ("the Company")which comprises the Balance Sheet as at March 31 2019 the Statement of Profit and Lossand statement of cash flows for the year then ended and notes to the financialstatements including a summary of significant accounting policies and other explanatoryinformation (hereinafter referred to as "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 of the state of affairs of the Companyas at March 31 2019 and the Profit and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our opinion.
Key Audit Matter
Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. 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.
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. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate implementation and maintenance ofaccounting 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 statement that givea 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 but to do so.
Those Board of Directors are also responsible for overseeing the company's financialreporting process
Auditor's Responsibility for the Audit of the Financial Statements
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.
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditors' Report) Order 2016 ('the Order) issued by theCentral Government of India in terms of sub-section (11) of section 143 of the Act wegive in "Annexure-A" a statement on the matters specified in the paragraph 3and 4 of the order to the extent applicable.
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 purpose 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 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 Standalone Financial Statements comply with theAccounting Standards referred to in section 133 of the Companies Act 2013 read with rule7 of the Companies (Accounts) Rules 2014;
e) On the basis of written representations received from the directors as on March 312019 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2019 from being appointed as a director in terms of Section 164(2) of theAct.
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-B"; and
g) With respect to the other matters included in the auditor's report and to best ofour information and according to the explanation given to us.
1) The company has disclosed the impact of pending litigation on its financial positionin its financial statement - Refer Note-17 to the financial statements
2) The company has made provision as required under the applicable law or AccountingStandards for material foreseeable losses if any on long term contracts includingderivative contracts.
3) There has been no delay in transferring amounts required to be transferred to theinvestor's education and protection fund by the company.
3. As per Non-Banking Financial Companies Auditors Report (Reserve Bank) Directions1998 issued by Reserve Bank of India vide Notification No.-DFC117/DG(SPT)-98 dated January2 1998 we further report to the extent to which matters specified therein are applicableto the company that:
a) The company is a Non-Banking Financial Company not accepting public deposits and thecertificate of registration no. B-14.03301 dated 13th March 2019 from ReserveBank of India has been issued to the company.
b) The Board of Directors of the company has passed a resolution for the nonacceptanceof any public deposits.
c) The company has not accepted any public deposits during the relevant year.
d) The company has complied with the prudential norms relating to income recognitionaccounting standards assets classification and provisioning for bad and doubtful debts asapplicable to it.
| ||For DSP & ASSOCIATES |
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| ||~Sd~ |
| ||(SANJAY KUMAR) |
|Place: Delhi ||PARTNER |
|Date: 30/05/2019 ||M.No.093720 |