The Members Of
NIVI TRADING LIMITED
Report on the Financial Statements
We have audited the accompanying Ind AS financial statements of NIVI TRADING LIMITED("the Company) which comprise the Balance Sheet as at 31 March 2018the Statement of Profit and Loss (including other comprehensive income) the Cash FlowStatement and the Statement of changes in Equity for the year then ended and a summary ofsignificant accounting policies and other explanatory information (herein after referredto as "Ind AS financial Statements).
Management's Responsibility for the 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 Ind AS financial statements that give a true and fair view of the financialposition financial performance including other comprehensive income cash flows andchanges in Equity of the Company in accordance with the accounting principles generallyaccepted in India including the Indian Accounting Standards (Ind AS) prescribed underSection 133 of the Act read with the relevant rules issued thereunder.
This responsibility also includes the maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the Ind AS financial statementsthat give a true and fair view and are free from material misstatement whether due tofraud or error.
Our responsibility is to express an opinion on these Ind AS financial statements basedon our audit.
We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be incused 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 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 Ind AS financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the Ind AS financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of theInd AS financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the Ind AS financial statements that give true and fair view in order todesign audit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company's Directors as well as evaluating the overallpresentation of the Ind AS financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Ind AS financial statements.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Ind AS financial statements give the information required bythe Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India including the Ind AS of the state ofaffairs (financial position) of the Company as at 31st March 2018 and itsloss (financial performance including other comprehensive income) its cash flows Undchanges in equity for the year ended on that date.
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 4 of theOrder 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 purposes of our audit;
b) In our opinion proper books of accounts as required by law have been kept by theCompany so far as appears form our examination of those books;
c) The Balance Sheet the Statement of Profit and Loss the Cash Flow Statement and theStatement of changes in Equity dealt with by this Report are in agreement with the booksof account;
d) In our opinion the aforesaid Ind AS financial statements comply with the AccountingStandards specified under Section 133 of the Act read with the relevant rule issuedthereunder;
e) On the basis of written representations received from the directors as on 31 March2018 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2018 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 BM and
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) Rule 2014 in our opinionand to the nest of our information and according to the explanation given to us:
i. The Company does not have any pending litigations which shall impact its financialpositions.
ii. The Company does not have any long terms contracts for which provisions arerequired to be made.
iii. The Company is not liable to transfer any amount to the Investor Education andProtection Fund.
|For VORA & ASSOCIATES |
|CHARTERED ACCOUNTANTS |
|(ICAI Firm Reg. No.: I11612VV) |
|RONAICA. RAMBH1A |
|(Membership No. 140371) |
|PLACE: MUMBAI |
|DATED: 27 APR 2018 |