You are here » Home » Companies » Company Overview » Nikki Global Finance Ltd

Nikki Global Finance Ltd.

BSE: 531272 Sector: Financials
NSE: N.A. ISIN Code: INE526C01012
BSE 00:00 | 29 Nov 4.23 0
(0.00%)
OPEN

4.23

HIGH

4.23

LOW

4.23

NSE 05:30 | 01 Jan Nikki Global Finance Ltd
OPEN 4.23
PREVIOUS CLOSE 4.23
VOLUME 22
52-Week high 5.05
52-Week low 4.18
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.23
CLOSE 4.23
VOLUME 22
52-Week high 5.05
52-Week low 4.18
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Nikki Global Finance Ltd. (NIKKIGLOBFIN) - Auditors Report

Company auditors report

To the Members of Nikki Global Finance Limited New Delhi.

Report on the Financial Statements

We have audited the accompanying Financial Statements of M/s Nikki Global FinanceLimited 1-9 LGF Lajpat Nagar-1 New Delhi which comprise the Balance Sheet as at 31stMarch 2020 and the statement of Profit and Loss and Cash Flow Statement for theyear then ended and a summary of significant Accounting Policies and other explanatoryinformation.

Management's responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 (“the Act”) with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

This responsibility also includes the maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding of the assets of the Company andfor preventing and detecting the frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 thereunder.

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 about whetherthe 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 our judgmentincluding the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments we considersinternal financial control relevant to the Company's preparation of the financialstatements that give true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made byCompany's Directors as well as evaluating the overall presentation of the financialstatements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.

Opinion

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 the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India;

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 (“the Order”)issued by the Central Government of India in terms of section 143(11) of the Act we givein the “Annexure A” a statement on the matters specified in paragraphs 3 and 4of the Order.

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 purposes 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 the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under 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 31 March2016 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2016 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”.

g) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014:

i) The Company has disclosed the impact of pending litigations on its financialposition in

its financial statements.

ii) The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii) As informed by the company there were no amounts which required to be transferredby the Company to the Investor Education and Protection Fund.

"Annexure A" to the Independent Auditors' Report

The Annexure referred to in Independent Auditors' Report to the members of the Companyon

the financial statements of the Company for the year ended March 312020:

(i) In respect of its fixed assets:

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

(b) As explained to us fixed assets have been physically verified by the managementduring the year in accordance with the phased programmeof verification adopted by themanagement which in our opinion provides for physical verification of all the fixedassets at reasonable intervals. According to the information and explanations given to usno material discrepancies were noticed on such verification.

(c) No immovable properties are held by the Company so this clause of the Order is notapplicable.

(ii) In respect of its inventory:

(a) As explained to us the inventories of finished goods semi-finished goods storesspare parts and raw materials were physically verified at regular intervals/ (at the endof the year) by the Management. In case of inventories lying with third partiescertificates of stocks holding have been received. In our opinion and according to theinformation and explanation given to us the procedures of physical verification ofinventories followed by the Management were reasonable and adequate in relation to thesize of the Company and the nature of its business.In our opinion and according to theinformation and explanations given to us no material discrepancies were noticed onphysical verification of stocks as compared to book records.

(iii) In respect of loans secured or unsecured granted to the parties covered inregister maintained under section 189 of the Companies Act 2013:

According to the information and explanations given to us the Company has not grantedany loans to companies firms or other parties covered in the Register maintained underSection 189 of the Companies Act 2013; and therefore paragraph 3 (iii) of the Order isnot applicable.

(iv) In our opinion and according to the information and explanations given to us theCompany has complied with the requirements of section 185 and section 186 of the CompaniesAct 2013.

(v) The Company has not accepted any deposits from the public and hence the directivesissued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from the public are not applicable.

(vi) As informed to us the Central Government has not prescribed maintenance of costrecords under sub-section (1) of Section 148 of the Act in respect of the activitiescarried on by the Company.

(vii) In respect of statutory dues:

(a) According to the records of the company and information and explanations given tous the disputed statutory dues including Provident Fund employees state insurance(ESI) Investor Education and Protection Fund Income-tax Tax deducted at sources Taxcollected at source. Professional Tax Sales Tax value added tax (VAT) Wealth TaxService Tax Custom Duty Excise Duty Cess and other material statutory dues applicableto it that have been not deposited on account of matters pending before appropriateauthorities are as follows:

Nature of dues/Payments Amount due(Rs in Lacs) Period of which the amount relates Forum where amount is pending
Income Tax 1.04 A.Y 2010-11 CIT appeal kanpur
Income Tax 14.56 A.Y 2011-12 CIT appeal kanpur
Income Tax 8.33 A.Y 2012-13 CIT appeal kanpur
Income Tax 6.82 A.Y 2013-14 CIT appeal kanpur
Income Tax 1.91 A.Y 2014-15 CIT appeal kanpur
Income Tax 1.8 A.Y 2015-16 CIT appeal kanpur
Income Tax 7.65 A.Y 2016-17 CIT appeal kanpur

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted in the repayment of dues to financial institutions banksand debenture holders.

(ix) The company has not raised any money by way of initial public offer or furtherpublic offer

and has not obtained any term loans during the year so this para of the Order is notapplicable.

(x) To the best of our knowledge and according to the information and explanationsgiven to us

no fraud by the Company and no material fraud on the Company has been noticed orreported during the year.

(xi) In our opinion and according to the information and explanations given to us theCompany

has paid and provided the managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with schedule V to the CompaniesAct.

(xii) The Company is not a Nidhi Company so this para of the Order is not applicable.

(xiv) In our opinion and according to the information and explanations given to us theCompanyhas not made any preferential allotment or private placement of shares or fullyconvertible debentures during the year under review so this para of the Order is notapplicable.

(xv) In our opinion and according to the information and explanations given to us theCompany

has not entered into any non-cash transaction with directors or person connected withhim so this para of the Order is not applicable.

(xvi) The Company is registered under section 45 IA of the Reserve Bank of India Act1934.

.