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 31st March2017 and the Statement of Profit and Loss for year ended 31st March 2017 and Cash FlowStatement for year ended 31st March 2017 and a summary of significant accounting policiesand other explanatory information.
Managements 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.
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 theauditors judgment including the assessment to the risks of material misstatement ofthe financial statement whether due to fraud or error. In making those risk assessments;the auditor considers internal control relevant to the companys preparation and fairpresentation of financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Companys Internal Control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for audit opinion on the financial statements.
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 31stMarch 2017; and
b. In the case of the Statement of Profit and Loss of the profit for the year ended31st March 2017; and
c. In the case of the Cash Flow Statement of the cash flows for the year ended 31stMarch 2017; and
Report on Other Legal and Regulatory Requirements
1. The Companies (Auditors Report) Order 2016 issued by the Central Governmentof India in terms of section 143(3) of the Companies Act 2013 is enclosed as Annexure tothis report.
2. As required by section 143(3) of the Act we report that:
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 are in agreement with thebooks of account;
d. In our opinion the Balance Sheet and Statement of Profit and Loss comply with the
Accounting Standards notify under the Act read with the General Circular 15/2013 dated13-09-2013 of the Ministry of Corporate Affairs in respect of section 133 of the Act readwith Rule 7 of the Companies (Accounts) Rule2014;
e. On the basis of written representation received form the directors as on 31 March
2017 and taken on record by the board of directors none of the directors isdisqualified as on 31st March 2017 from being appointed as a director in terms of section164 of the Companies Act 2013.
For M.S. Jhanwar & Co.
Membership no. 143830
Annexure to Independent Auditors Report
The Members of Navigant Corporate Advisors Limited
We refer to our report on the financial statements of Navigant Corporate AdvisorsLimited (the Company) for the year ended March 31 2017 issued on 29th May 2017. This maybe treated as an Annexure to our aforesaid Report on financial statements for the yearended March 31 2017. i. In respect of its fixed assets: a) The Company hasmaintained proper records showing full particulars including quantitative details andsituation of fixed assets on the basis of available information. b) As explained to usall the fixed assets have been physically verified by the management in a phasedperiodical manner which in our opinion is reasonable having regard to the size of theCompany and nature of its assets. No material discrepancies were noticed on such physicalverification. c) The title of immovable property held in the name of company. ii. Inrespect of its inventories: The company being in to consultancy business hence do not haveany inventories accordingly instant clause is not applicable in this case. iii. In respectof the loans secured or unsecured granted by the Company to companies firms or otherparties covered in the register maintained under Section 189 of the Companies Act 2013:The company has not granted any loans whether secured or unsecured to any of partiescovered in the register maintained under Section 189 of the Companies Act 2013accordingly instant clause is not applicable in this case. iv. According to theinformation and explanations given to us in respect of loans investments guaranteesand security provisions of section 185 and 186 of the Companies Act 2013 have beencomplied with.
v. According to the information and explanations given to us the Company has notaccepted any deposit from the public. Therefore the provisions of Clause (v) of CARO 2016are not applicable to the Company. vi. The company is in to consultancy operations hencemaintenance of cost records as specified by the Central Government under sub-section (1)of section 148 of the Companies Act 2013 is not applicable to company. vii. In respectof statutory dues: a) According to the records of the Company undisputed statutorydues including Provident Fund Employees State Insurance Income Tax Sales TaxWealth Tax Service Tax duty of Customs Duty of Excise Value Added Tax Cess and othermaterial statutory dues as applicable to company have been generally regularly depositedwith the appropriate authorities. According to the information and explanations given tous no undisputed amounts payable in respect of the aforesaid dues were outstanding as atMarch 31 2017 for a period of more than six months from the date of becoming payable. b)According to records of company there are no dues of income tax or sales tax or wealthtax or service tax or duty of customs or duty of excise or value added tax or cess havenot been deposited on account of any dispute. viii. The company has not defaulted inrepayment of loans or borrowings to a finanial institution bank Government or dues toany debenture holder. ix. According to the information and explanations given to us thecompany has not raised any money by way of initial public offer or further public offer(including debt instruments) during the year under review. x. According to the informationand explanations given to us no fraud by the company or any fraud on the Company by itsofficers or employees has been noticed or reported during the year under review.
xi. According to the information and explanations given to us managerial remunerationhas been paid or provided in accordance with the requisite approvals mandated by theprovisions of section 197 read with Schedule V to the Companies Act 2013.
xii. Company is not a Nidhi Company.
xiii. According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013 andthe details have been disclosed in the Financial Statements etc. as required by theapplicable accounting standards.
xiv. According to the information and explanations given to us company has not madeany private placement of shares during the year under review.
xv. According to the information and explanations given to us company has not enteredinto any non-cash transactions with directors or persons connected with him.
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 of India Act 1934.
For M.S. Jhanwar & Co.
Membership no. 143830