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Orient Tradelink Ltd.

BSE: 531512 Sector: Media
NSE: N.A. ISIN Code: INE681D01013
BSE 00:00 | 20 Feb 31.75 1.00
(3.25%)
OPEN

31.50

HIGH

31.95

LOW

30.25

NSE 05:30 | 01 Jan Orient Tradelink Ltd
OPEN 31.50
PREVIOUS CLOSE 30.75
VOLUME 59775
52-Week high 31.95
52-Week low 2.71
P/E 37.80
Mkt Cap.(Rs cr) 35
Buy Price 31.75
Buy Qty 100.00
Sell Price 32.20
Sell Qty 2100.00
OPEN 31.50
CLOSE 30.75
VOLUME 59775
52-Week high 31.95
52-Week low 2.71
P/E 37.80
Mkt Cap.(Rs cr) 35
Buy Price 31.75
Buy Qty 100.00
Sell Price 32.20
Sell Qty 2100.00

Orient Tradelink Ltd. (ORIENTTRADELINK) - Auditors Report

Company auditors report

Annexure-A

To THE MEMBERS OF ORIENT TRADELINK LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of Orient Tradelink Limited("theCompany") which comprise the Balance Sheet as at 31st March 2018 the Statement ofProfit and Loss the Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information.

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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditors’ 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 there under.

We have conducted our audit in accordance with the Standards on Auditing specifiedunder Section 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company’s Directors as well as evaluating theoverall 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 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:

(i) In case of balance sheet of the state of affairs of the Company as at 31st March2018

(ii) In case of the statement of profit and loss of the profit of the Companyfor the year ended on that date and

(iii) In case of statement cash flows cash flows of the company for the yearended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2015 we give a statement on the matters specified inparagraphs 3 & 4 of the Order refer "Annexure "A".

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 it appears from our examination of those books

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with 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 of the Companies(Accounts) Rules 2O14.

(e) On the basis of the written representations received from the directors as on 31March 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2018 from being appointed as a director in terms of Section164 (2) of the Act.

(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) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2O14 in our opinionand to the best of our information and according to the explanations given to us:

i. As informed by the management the company does not have any pending litigationswhich would impact its financial position.

ii. As informed by the management the Company did not have any long-term contractsincluding derivative contracts for which there were any material foreseeable losses.

iii. There has not been any amount which is required to be transferred to the InvestorEducation and Protection Fund by the Company.

For MITTAL NIRBHAY & CO.

Chartered Accountants

FRN: 013097c

Sd/-

Kamal Kumar

Partner

Membership No. 502549

Place: New Delhi

Date: May 29 2018

"ANNEXURE – A" REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING OF"REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS OF OUR REPORT OF EVEN DATE ON THEFINANCIAL STATEMENTS OF ORIENT TRADELINK LIMITED

I. (a) The Company is maintaining proper records showing full particulars includingquantitative details & situation of fixed assets.

(b) As explained to us these fixed assets have been physically verified by themanagement at reasonable intervals during the year. No material discrepancies were noticedon such verification.

(C) According to information & explanations given to us and on the basis ofexamination of the books of accounts the company does not have immovable properties. Thusparagraph 3 (i) (c) is not applicable

II. On the basis of information & explanations obtained the stocks of finishedgoods stores spare parts and raw materials have been physically verified by themanagement at reasonable intervals during/at the end of the year

(b) we are unable to comment upon the discrepancies noticed on such verification ofstocks as compared to book records in absence of proper records. III. According toinformation & explanations given to us and on the basis of our examination of booksof accounts forms & registers the company has not granted any loans Secured orunsecured loan to companies firms Limited Liability Partnerships or other partiescovered in the register maintained under Section 189 of the Companies Act 2013.Accordingly the provisions of clause 3 (iii) (a) to (c) of the order are not applicableto the company and hence not commented upon.

IV. According to information & explanations given to us and on the basis of ourexamination of books of accounts forms & registers the Company has not given any loanor made any investments guarantee to its director or in any other in the company. Theprovisions of section 185 & 186 of the Companies Act 2013 are not applicable to thecompany. Hence clause (iv) para 3 of caro is not applicable.

V. During the year the company has not accepted any deposits from the public durng theyear. Accordingly the provisions of clause (v) para 3 of the order is not applicable tothe company and hence not commented upon.

VI. The company is not required to maintain cost accounting records under subSection (1) of section 148 of the Companies Act 2013.

VII. (a) According to the records of the company is not regular in depositing itsundisputed statutory dues.

(b) According to the information and explanations given to us there are no undisputedamounts payable In respect of provident fund ESI Income tax wealth tax sales taxcustoms duty & excise duty value added tax cess and other statutory dues outstandingfor a period of more than six months as at 31st March 2018 from the date they becomepayable. VIII. On the basis of the verification of records and information andexplanations given by the management the company has not defaulted in repayment of duesto financial institutions and banks.

IX. Based upon the audit procedures and the information and explanations given by themanagement the Company has not raised money by way of initial public offer or furtherpublic offer including debt instruments and term loans. Accordingly the provisions ofclause 3 (ix) of the order is not applicable to the company and hence not commented upon.

X. Based upon the audit procedures performed and the information and explanationsgiven by the management we report that no fraud by the Company or on the company by tsofficers or employees has been noticed or reported during the year.

XI. According to the information and explanations given to us and records of thecompany examined by us the manegrial has been paid / provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act 2013.

XII. In our opinion and According to the information and explanations given to usthe company is not a Nidhi Company. Therefore provisions of clause 3 (xii) of the orderare not applicable to the company.

XIII. According to the information and explanations given to us writtenrepresentations obtained nad records of the company examined by us all transactions withrelated parties are in compliance with section 177 & 188 of the Companies Act 2013.

XIV. The company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review. Accordingly theprovisions of clause 3 (xiv) of the order are not applicable to the company and hence notcommented upon.

XV. Based upon the audit procedures and as per the information and explanations givenby the management As per the information and explanations given by the management thecompany has not entered into any non-cash transaction with directors or persons connectedwith him. Accordingly the provisions of clause 3 (xv) of the order are not applicable tothe company and hence not commented upon

XVI. In our opinion the company is not required to be registered under section 45-IA ofthe Reserve Bank of India Act 1934. Accordingly the provisions of clause 3 (xvi) of theorder are not applicable to the company and hence not commented upon.

For MITTAL NIRBHAY & CO.

Chartered Accountants

FRN: 013097c

Sd/-

Kamal Kumar

Partner

Membership No. 502549

Place: New Delhi

Date: May 29 2018

"ANNEXURE-B REFERRED TO IN PARAGRAPH 2 UNDER THE HEADING "REPORT ON OTHERLEGAL AND REGULATORY REQUIREMENTS" OF OURREPORT OF EVEN DATE ON THE FINANCIALSTATEMENTS OF ORIENT TRADELINK LIMITED.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of ORIENTTRADELINK LIMITED ("the Company") as of 31st March 2018 inconjunction with our audit of the financial statements of the Company for the year endedon that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internalfinancial controls based on "the internal control over financial reporting"criteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on "Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India". Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company’s policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under Section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor’s judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company’s internal financial controlssystem over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31st March 2018 basedon "the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India".

For MITTAL NIRBHAY & CO.

Chartered Accountants

FRN: 013097c

Sd/-

Kamal Kumar

Partner

Membership No. 502549

Place: New Delhi

Date: May 29 2018