To the Members of NDASECURITIES LIMITED.
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of NDA SecuritiesLimited (the Company) which comprise the Balance Sheet as at March 312017and the Statement of Profit and Loss and Cash Flow Statement for the year then ended anda summary of significant accounting policies and other explanatory information.
Management's Responsibility forthe 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 Standardspecified under Section 133 of the Act read with the provision of the Companies(Accounts) Rules 2014. This responsibility includes the maintenance of adequateaccounting records in accordance with the provision of the Act for safeguarding of theassets of the Company and for preventing and detecting the frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of internal financial control that were operating effectively for ensuringthe accuracy and completeness of the accounting records relevant to the preparation andpresentations of the financial statements that give a true and fair view and free frommaterial misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these Standalone financial statementsbased on our audit.
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 Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance aboutwhetherthe 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 of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial 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 entity'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.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Standalone financial statement.
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 312017 and its Profit and its Cash Flowforthe year ended on that date.
Emphasis of the Matter
1. We draw attention to note no.3.5.1 to the standalone financial statements of thecompany regarding the valuation of inventory of shares for which no provision has beenmade for deficiency or impairment loss in the value of stock of shares as at 31st March2017.
2. We draw attention to note no.3.4.3 to the standalone financial statements of thecompany regarding the membership cost of OTCEI is considered good and recoverable by themanagement of the company for the no reasons mentioned in the said note.
Ouropinion is not modified in respect of these matter
Report on Other Legal and Regulatory Requirement's
1. As required by the Companies (Auditor's Report) Order 2016 (the Order)issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure A a statement on the matters specified in the paragraph3 and 4 of the Order to the extent applicable.
2. 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 ouropinion proper books of account as required by law have been kept by theCompany so far as appears from ourexamination 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 specified under Section 133 of the Companies Act 2013 read withRule 7 of the Companies(Accounts) Rules2014;
e) On the basis of written representations received from the directors as on March312017 and taken on record by the Board of Directors none of the directors isdisqualified as on March 312017 from being appointed as a director in terms of section164(2) of the Companies Act 2013.
f) with respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such control refer to ourseparate report in Annexure B and our report expresses an unmodified opinion on theadequacy and operating effectiveness of the Company's internal financial controlsoverfinancial reporting.
g) With respect to the other matters included in the Auditor's Report in accordancewith Rule 11 of
Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of ourinformation and
according to explanations given to us:
i. The Company does not have any pending litigations which would impact its financialpositions..
ii. The company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses.
iii. There no amounts which required to be transferred to the Investor Education andProtection Fund by the company
iv. The Company has provide requisite disclosures in the financial statements as toholding as well as dealings in Specified Bank Notes during the period from November 82016 to December 30 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with books of accountmaintained by the Company and as produced to us by the Management- refer Note 3.12 to thefinancial Statement
| ||FOR GUPTA RUSTAGI &AGARWAL CHARTERED ACCOUNTANTS Firm No. 008084N |
|PLACE : New Delhi DATED : 29/05/2017 ||CAS.C.GUPTA Partner Membership No. 086839 |