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NMS Resources Global Ltd.

BSE: 522289 Sector: Others
NSE: N.A. ISIN Code: INE169F01014
BSE 00:00 | 17 May NMS Resources Global Ltd
NSE 05:30 | 01 Jan NMS Resources Global Ltd
OPEN 5.88
PREVIOUS CLOSE 5.88
VOLUME 2
52-Week high 6.35
52-Week low 4.47
P/E 42.00
Mkt Cap.(Rs cr) 2
Buy Price 5.89
Buy Qty 20.00
Sell Price 6.18
Sell Qty 20.00
OPEN 5.88
CLOSE 5.88
VOLUME 2
52-Week high 6.35
52-Week low 4.47
P/E 42.00
Mkt Cap.(Rs cr) 2
Buy Price 5.89
Buy Qty 20.00
Sell Price 6.18
Sell Qty 20.00

NMS Resources Global Ltd. (NMSRESOURCES) - Auditors Report

Company auditors report

To the Members of

IFM Impex Global Limited

Delhi-110033

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of IFM IMPEXGLOBAL LIMITED Delhi which comprise the Balance Sheet as at March 31 2018 the Statementof Profit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

The Company's Board of Directors is responsible for the matters statedin Section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone Ind AS financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards (Ind AS) specified under Section 133 of the Act read with theCompanies (Indian Accounting Standards) Rules 2015 as amended.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding of the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

AUDITORS' RESPONSIBILITY

Our responsibility is to express an opinion on these standalone Ind ASfinancial statements based on our audit. We have taken into account the provisions of theAct the accounting and auditing standards and matters which are required to be includedin the audit report under the provisions of the Act and the Rules made thereunder. Weconducted our audit of the standalone Ind AS financial statements in accordance with theStandards on Auditing specified under section 143(10) of the Act and 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 aboutthe amounts and disclosures in the financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe standalone Ind AS financial statements whether due to fraud or error. In making thoserisk assessments the auditor considers internal financial control relevant to theCompany's preparation and fair presentation of the standalone Ind AS financial statementsin order to design audit procedures that are appropriate in the circumstances but not forthe purpose of expressing an opinion on the effectiveness of the Company's internalcontrol. An audit also includes evaluating the appropriateness of accounting policies usedand the reasonableness of the accounting estimates made by management as well asevaluating the overall presentation of the standalone Ind AS financial statements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion.

OPINION

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone Ind AS financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India:

(a) In the case of the Balance Sheet of the state of affairs of theCompany as at March 31 2018.

(b) In the case of the Statement of Profit and Loss of the Profit ofthe Company for the year ended on that date; and

(c) In the case of the Cash Flow Statement of the cash flows of theCompany 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 (theOrder) issued by the Central Government of India in terms of Sub Section (11) of Section143 of the Act we give in the Annexure a statement on the matters specified in paragraphs3 and 4 of the Order.

2. As required by Section 143(3) of the Act we report that:

a. We have sought & obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purpose of our audit;

b. In our opinion proper books of account as required by law have beenkept by the Company so far as appears from our examination of those books.

c. The Balance Sheet the Statement of Profit and Loss and the CashFlow Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion aforesaid standalone Ind AS financial statementscomply with Accounting Standards specified in under section 133 under the Act read withCompanies (Indian Accounting Standards) Rules 2015 as amended.

e. On the basis of the written representations received from thedirectors as on March 31 2018 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2018 from being appointed as a director interms of Section 164 (2) of the Act.

f. With respect to the adequacy of internal financial controls overfinancial reporting of the company and operating effectiveness of such controls thecompany has in all material respects an adequate internal financial controls system overfinancial reporting and such internal financial controls over financial reporting wereoperating effectively as at 31st March 2018 based on the internal control over financialreporting criteria established by the company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India.

g. With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

i. The Company does not have any pending litigations for whichfinancial impact to be ascertained in the standalone Ind AS financial statements.

ii. The Company does not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses.

iii. There has been no amount required to be transferred to theInvestor Education and Protection Fund by the Company.

For Neeraj Ramesh Chandra & Associates Chartered Accountants FRN:017155N Sd/-

Manish Goyal M. No.541591

Place: New Delhi Date: 29.05.2018

ANNEXURE TO AUDITORS REPORT

Annexure referred to in Para 1 of our report of even date to theshareholders of IFM Impex Global Limited on accounts for the year ended 31stMarch 2018.

1. a) During the year under audit the Company could not produce thefixed assets records/registers before us for verification which as explained to us areunder preparation. In view of above we are unable to comment on the matter.

b) As explained to us major fixed assets have been physically verifiedby the management during the year. We have been informed that the discrepancies noticed onsuch verification as compared to book record were not material and have been properlydealt with in the books of account. In our opinion the frequency of verification isreasonable.

2. a) As informed to us physical verification of inventory has beenconducted at reasonable intervals by the management.

(b) In our opinion the procedures of physical verification of inventoryfollowed by the management are reasonable and adequate in relation to the size of theCompany and the nature of its business.

(c) In our opinion the Company is maintaining proper records ofinventory. As informed to us no material discrepancies were noticed on physicalverification. As explained to us the discrepancies noticed have been properly dealt within the books of account.

3. During the year the Company has not granted any loans secured orunsecured to companies firms or other parties covered in the register maintained underSection 189 of the Companies Act 2013. Therefor the provisions of clause 3(iii) [(a) to(c)] of the said Order are not applicable to the Company.

4. In our opinion and according to the information and explanationsgiven to us the Company has complied with the provisions of Section 186 of the Act withrespect to the Investment made. The Company has not given any loans to which theprovisions of section 185 of the Act is applicable.

5. According to the information and explanations given to us theCompany has not accepted any deposits in terms of the directives issued by the ReserveBank of India and the provisions of sections 73 to 76 or any other relevant provisions ofthe Companies Act 2013 and the rules framed there under.

6. In respect of business activities of the Company maintenance ofcost records has not been specified by the Central Government under sub-section (l) ofsection 148 of the Companies Act 2013 read with rules framed thereunder.

7. a) As per information and explanations given to us there are noundisputed statutory liabilities lying unpaid as at the year-end for a period of more thansix months from the date they become payable.

b) No amounts were required to be transferred to investor education andprotection fund in accordance with the relevant provisions of the Companies Act 1956 (1of 1956) and rules made thereunder.

8. The accumulated losses of the Company as at the end of the financialyear have exceeded 50% of its net worth.

9. During the year the Company has not borrowed any loan/funds frombank or/and financial institution. Also the Company has not issued any debentures orraised money by way of initial public offer or further public offer during the year.

10. The Company has not given any guarantee for loans taken by othersfrom bank or financial institutions.

11. Based upon the audit procedures and information and explanationsgiven by the management we report that no fraud on or by the Company or its employeeshas been noticed or reported during the course of our audit nor have we been informed ofany such cases by the Management for the year ended 31st March 2018.

12. In our opinion and according to the information and explanationsgiven to us the Company is not a Nidhi Company. Accordingly paragraph 3(xii) of theOrder is not applicable.

13. According to the information and explanations given to us and basedon our examination of the records of the Company no transactions with the related partieshave been undertaken as per section 177 and 188 of the Act.

14. According to the information and explanations given to us and basedon our examination of the records of the Company the Company has not made anypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year.

15. According to the information and explanations given to us and basedon our examination of the records of the Company the Company has not entered intonon-cash transactions with Directors or persons connected with them. Accordinglyparagraph 3(xv) of the Order is not applicable.

16. According to the information and explanations given to us and basedon our examination of the records of the Company the Company is not required to beregistered under section 45-IA of the Reserve Bank of India Act 1934.

For Neeraj Ramesh Chandra & Associates Chartered Accountants FRN:017155N Sd/-

Manish Goyal M. No.541591

Place: New Delhi Date: 29.05.2018