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Navigant Corporate Advisors Ltd.

BSE: 539521 Sector: Financials
NSE: N.A. ISIN Code: INE364T01012
BSE 00:00 | 22 Sep 21.15 0
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NSE 05:30 | 01 Jan Navigant Corporate Advisors Ltd
OPEN 21.15
PREVIOUS CLOSE 21.15
VOLUME 20000
52-Week high 21.15
52-Week low 8.98
P/E 5.97
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 21.15
CLOSE 21.15
VOLUME 20000
52-Week high 21.15
52-Week low 8.98
P/E 5.97
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Navigant Corporate Advisors Ltd. (NAVIGANTCORP) - Auditors Report

Company auditors report

To

The Members of

NAVIGANT CORPORATE ADVISORS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statement of NAVIGANT CORPORATE ADVISORSLIMITED (the "Company") which comprise the Balance Sheet as at 31stMarch 2022 and the Statement of Profit and Loss for year ended 31st March 2022and Cash Flow Statement for year ended 31st March 2022 and a summary ofsignificant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statement that give atrue and fair view of the financial position and financial performance of the Company inaccordance with the sec.134(5) of the Companies Act 2013 Accounting Standards Notifyunder Companies Act 2013 read with General Circular 08/2014 dated 04-04-2014 issued byThe Ministry of Corporate Affairs in respect of Section 133 of the Companies Act2013 andin accordance with the accounting principle generally accepted in India. Thisresponsibility includes the designs implementation and maintenance of internal controlrelevant to the preparation and presentation of the financial statement that gives a trueand fair view and is free from material misstatement whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. 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.

We conducted our audit in accordance with the standards on auditing issued by theInstitute of Chartered Accountants of India. Those standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment to the risks of material misstatement of the financialstatement whether due to fraud or error. In making those risk assessments; the auditorconsiders internal control relevant to the company's preparation and fair presentation offinancial statements in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe Company's Internal Control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well as evaluating the overall presentation of the financial statements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationgiven to us the financial statement give the information required by the act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India.

a. In the case of the Balance Sheet of the State of Affairs of the Company as at 31stMarch2022; and

b. In the case of the Statement of Profit and Loss of the profit for the year ended 31stMarch2022; and

c. In the case of the Cash Flow Statement of the cash flows for the year ended 31stMarch 2022; and Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2020 ("the Order")issued by the Central Government in terms of sub-section (11) of the section 143 of theAct ("the Order") and on the basis of such checks of the books and records ofthe Company as we considered appropriate and according to the information and explanationgiven to us we give in "Annexure" a statement on matters specified inparagraphs 3 and 4 of the said order.

2. As required by section 143(3) of the Act we reportthat:

a. We have obtained all the information and explanation which to the best of ourknowledge 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 appears from our examination of those books;

c. The Balance Sheet and the Statement of Profit and Loss and cash flow statement arein agreement with the books of account;

d. In our opinion the Balance Sheet and Statement of Profit and Loss and cash flowstatement comply with the Accounting Standards notify under the Act read with the GeneralCircular 15/2013 dated 13-09-2013 of the Ministry of Corporate Affairs in respect ofsection 133 of the Act read with Rule 7 of the Companies (Accounts) Rule2014;

e. On the basis of written representation received from the directors as on 31stMarch 2022 and taken on record by the board of directors none of the directors isdisqualified as on 31st March 2022 from being appointed as a director in termsof section 164 of the Companies Act 2013.

f. In our opinion 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 2022 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 issue by the Institute ofChartered Accountants of India.

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 litigation which would affect its financialposition.

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 management has represented that to the best of its knowledge and belief otherthan as disclosed in the notes to the accounts no funds have been advanced or loaned orinvested (either from borrowed funds or share premium or any other sources or kind offinds) by the company to or in any other person(s) or entity(ies) including foreignentities 'intermediaries' with the understanding whether recorded in writing orotherwise that the intermediary shall whether directly or indirectly lend or invest inother persons or entities identified in any manner whatsoever by or on behalf of thecompany 'Ultimate Beneficiaries' or provide any guarantee security or the like on behalfof the Ultimate Beneficiaries;

v. The management has represented that to the best of its knowledge and belief otherthan as disclosed in the notes to accounts no funds have been received by the companyfrom any person(s) or entity(ies) including foreign entities 'Funding Parties' with theunderstanding whether recorded in writing or otherwise that the company shall whetherdirectly or indirectly lend or invest in other persons or entities identified in anymanner whatsoever by or on behalf of the Funding Party 'Ultimate Beneficiaries' or provideany guarantee security or the like on behalf of the Ultimate Beneficiaries; and

vi. Based on our audit procedures nothing has come to our notice that has caused us tobelieve that the representations under sub-clause (iv) and (v) contain any materialmis-statements.

vii. The Company has not declared any dividend during the year.

For Divya M & Co.

Chartered Accountants

Firm Registration No.: 152428W

Sd/-

Tirupati Murarka

Partner

Membership no. 143830

Place: Mumbai

Date: 16.05.2022

UDIN: 22143830AJAZCU2641

Annexure to Independent’s Auditor’s Report

i. a) The Company is maintaining proper records showing full particulars includingquantitative details and situation of Property Plant and Equipment.

b) The Company is maintaining proper records showing full particulars of intangibleassets. (The Company has no intangible assets)

c) As per the information and explanation given to us and records examined by us theseProperty Plant and Equipment have been physically verified by the management atreasonable intervals. No material discrepancies were noticed on such verification.

d) According to the information and explanations given to us and on the basis ofexamination of the records of the Company the title deeds of all the immovable propertiesdisclosed in the financial statements are held in the name of the Company.

e) The company has not revalued its Property Plant and Equipment (including Right ofUse assets) or intangible assets or both during the year.

f) No proceedings have been initiated or are pending against the company for holdingany benami property under the Benami Transactions (Prohibition) Act 1988 (45 of 1988) andrules made thereunder.

ii. a) As per the information and explanation given to us and based on examined ofrecords of the company inventories have been physically verified by the management atreasonable intervals in accordance with its programme and no material discrepancies werenoticed on such physical verification by the management.

b) As per the information and explanation given to us and based on examination ofrecords of the company the company has not been sanctioned working capital limits inexcess of five crore rupees in aggregate from banks or financial institutions on thebasis of security of current assets. (The Company has no working Capital Limit from Bankor Financial Institutions)

iii. During the year the company has not provided any guarantee or security or grantedany loans or advances in the nature of loans secured or unsecured to companies firmsLimited Liability Partnerships or any other parties.

iv. As per the information and explanation given to us and based on examination ofrecords of the company in respect of loans investments guarantees and security whetherprovisions of sections 185 and 186 of the Companies Act have been complied.

v. As per the information and explanation given to us and based on examination ofrecords of the company in respect of deposits accepted by the company or amounts which aredeemed to be deposits whether the directives issued by the Reserve Bank of India and theprovisions of Section 73 to 76 or any other relevant provisions of the Companies Act andthe rules made thereunder where applicable have been complied.

vi. As per the information and explanation given to us and based on examination ofrecords of the company maintenance of cost records have not been specified by the CentralGovernment under sub-section (1) of section 148 of the Companies Act.

vii. (a) As per the information and explanation given to us and based on examination ofrecords of the company the company is regular in depositing undisputed statutory duesincluding Goods and Services Tax provident fund employees' state insurance income taxsales-tax service tax duty of customs duty of excise value added tax cess and anyother statutory dues to the appropriate authorities.

(b) As per the information and explanation given to us and based on examination ofrecord of the company no statutory dues referred to in sub-clause (a) are pending.

viii. As per the information and explanation given to us and based on examination ofrecords of the company no transactions which are not recorded in the books of accounthave been surrendered or disclosed as income during the year in the tax assessments underthe Income Tax Act 1961 (43 of 1961).

ix. (a) As per the information and explanation given to us and based on examination ofrecords of the company the company has not defaulted in repayment of loans or otherborrowings or in the payment of interest thereon to any lender.

(b) As per the information and explanation given to us and based on examination ofrecords of the company the company is not declared as wilful defaulter by any bank orfinancial institution or other lender;

(c) As per the information and explanation given to us and based on examination ofrecords of the company The Company has not awaited any term loan.

(d) As per the information and explanation given to us and based on examination ofrecords of the company No funds raised on short term basis have been utilized for longterm purposes.

(e) As per the information and explanation given to us and based on examination ofrecords of the company the company has not taken any funds from any entity or person onaccount of or to meet the obligations of its subsidiaries associates or joint ventures

(f) As per the information and explanation given to us and based on examination ofrecords of the company the company has not raised loans during the year on the pledge ofsecurities held in its subsidiaries joint ventures or associate companies.

x. (a) As per the information and explanation given to us and based on examination ofrecords of the company moneys raised by way of initial public offer or further publicoffer (including debt instruments) during the year were applied for the purposes for whichthose are raised (No initial public offer or further public offer (including debtinstruments) during the year).

(b) As per the information and explanation given to us and based on examination ofrecords of the company the company has not made any preferential allotment or privateplacement of shares or convertible debentures (fully partially or optionally convertible)during the year.

xi. (a) As per the information and explanation given to us and based on examination ofrecords of the company no fraud by the company nor any fraud by the company nor any fraudon the company has been noticed or reported during the year.

(b) As per the information and explanation given to us and based on examination ofrecords of the company no report under sub-section (12) of section 143 of the CompaniesAct has been filed by the auditors in Form ADT-4 as prescribed under rule 13 of Companies(Audit and Auditors) Rules 2014 with the Central Government;

(c) As per the information and explanation given to us and based on examination ofrecords of the company no whistleblower complaints has been received

xii. As per the information and explanation given to us and based on examination ofrecords of the company the Company is not a Nidhi Company hence reporting under clausexii of the Order not applicable.

xiii. As per the information and explanation given to us and based on examination ofrecords of the company all transactions with related parties are in compliance withsections 177 and 188 of Companies Act where ever applicable and the details have beendisclosed in the financial statements etc. as required by the applicable accountingstandards.

xiv. (a) As per the information and explanation given to us and based on examination ofrecords of the company the company has an internal audit system commensurate with thesize and nature of its business.

(b) we have considered the report of internal auditors for the year.

xv. As per the information and explanation given to us and based on examination ofrecords of the company the company has not entered into any non-cash transactions withDirectors nor persons connected with them. The provisions of section 192 of Companies Acthave been complied.

xvi. (a) In our opinion the company is not required to be registered under section45-IA of the Reserve Bank of India Act1934.

Hence reporting under clause 3 (xvi) a b and c of the Order is not applicable.

(b) In our opinion there is no core investment company within the group (as defined inthe core Investment Companies (Reserve Bank) Directions 2016 and accordingly reportingunder clause 3 (xvi) (d) of the Order is not applicable.

xvii. The company has not incurred cash losses in the current financial year and in theimmediately preceding financial year.

xviii. M/s. M.S. Jhanwar & Co Chartered Accountants Mumbai (ICAI Registration No.130701W) existing Statutory Auditors have tendered their resignation from the position ofStatutory Auditors on 03.05.2021 due to their pre-occupation resulting into a casualvacancy in the office of Statutory Auditors of the company as envisaged by section 139 (8)of the Companies Act 2013 ("Act"). Accordingly We M/s. Divya M & Co.Chartered Accountants (ICAI Firm Registration No. 152428W) have been appointed asStatutory auditors.

xix. On the basis of the financial ratios ageing and expected dates of realisation offinancial assets and payment of financial liabilities other information accompanying thefinancial statements the auditor's knowledge of the Board of Directors and managementplans we are of the opinion that no material uncertainty exists as on the date of theaudit report that company is capable of meeting its liabilities existing at the date ofbalance sheet as and when they fall due within a period of one year from balance sheetdate;

xx. (a) As per the information and explanation given to us and based on examination ofrecords of the company Schedule VII of the Companies Act is not applicable to theCompany.

(b) As per the information and explanation given to us and based on examination ofrecords of the company subsection (5) and sub- section (6) of section 135 of theCompanies Act are not applicable to the Company.

xxi. There have not been any qualifications or adverse remarks.

For Divya M & Co.

Chartered Accountants

Firm Registration No.: 152428W

Sd/-

Tirupati Murarka

Partner

Membership no. 143830

Place: Mumbai

Date: 16.05.2022

UDIN: 22143830AJAZCU2641

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