You are here » Home » Companies » Company Overview » P.M. Telelinnks Ltd

P.M. Telelinnks Ltd.

BSE: 513403 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE092C01015
BSE 00:00 | 23 Sep 6.36 0.30
(4.95%)
OPEN

6.36

HIGH

6.36

LOW

6.36

NSE 05:30 | 01 Jan P.M. Telelinnks Ltd
OPEN 6.36
PREVIOUS CLOSE 6.06
VOLUME 8154
52-Week high 14.89
52-Week low 3.10
P/E 3.48
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.36
CLOSE 6.06
VOLUME 8154
52-Week high 14.89
52-Week low 3.10
P/E 3.48
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

P.M. Telelinnks Ltd. (PMTELELINNKS) - Auditors Report

Company auditors report

TO THE MEMBERS OF P.M. TELELINNKS LIMITED

Report on the Ind AS Financial Statements

Opinion

We have audited the accompanying Ind AS financial statements of P.M.TELELINNKS LIMITED ("the Company") which comprise the balance sheet asat 31 March 2021 and the statement of Profit and Loss (including other comprehensiveincome) statement of changes in equity and statement of cash flows for the year thenended and notes to the financial statements including a summary of significantaccounting policies and other explanatory information.

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at March 31 2021 and profit total comprehensive income changes in equityand its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing(SAs) specified under section 143 (10) of the Companies Act 2013. Our responsibilitiesunder those Standards are further described in the Auditor's Responsibilities for theAudit of the Financial Statements section of our report. We are independent of the Companyin accordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of the Ind ASfinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our unmodified opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the financial statements of the current period.These matters were addressed in the context of our audit of the financial statements as awhole and in forming our opinion thereon and we do not provide a separate opinion onthese matters

We have determined that there are no key audit matters to communicatein our report.

Other information

The Company's management and Board of Directors is responsible forthe other information. The other information comprises the information included in theCompany's annual report but does not include the financial statements and ourauditor's report thereon. Our opinion on the financial statements does not cover theother information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the financial statements or ourknowledge obtained in the audit or otherwise appears to be materially misstated. If basedon the work we have performed we conclude that there is a material misstatement of thisother information we are required to report that fact. We have nothing to report in thisregard.

Responsibilities of Management and those charged with governance forthe standalone Ind AS financial statements

The Company's Board of Directors is responsible for the mattersstated in section 134 (5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these Ind AS financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income changes inequity and cash flows of the Company in accordance with accounting principles generallyaccepted in India including Indian Accounting Standards (Ind AS) prescribed under section133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015 asamended. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand 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 Ind AS financial statement that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the Ind AS financial statements management is responsiblefor assessing the Company's ability to continue as a going concern disclosing asapplicable matters related to going concern and using the going concern basis ofaccounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditors' Responsibility for the Audit of the Ind AS FinancialStatements

Our objectives are to obtain reasonable assurance about whether the IndAS financial statements as a whole are free from material misstatement whether due tofraud or error and to issue an auditor's report that includes our opinion.Reasonable assurance is a high level of assurance but is not a guarantee that an auditconducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material ifindividually or in the aggregate they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these Ind AS financial statements.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the standalone Ind AS financial statements. Theprocedures selected depend on the auditor's judgment including the assessment of therisks of material misstatement of the standalone Ind AS financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the standalone Ind ASfinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overallpresentation of the standalone Ind AS financial statements.

As part of an audit in accordance with SAs. We exercise professionaljudgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of theInd AS financial statements whether due to fraud or error design and perform auditprocedures responsive to those risks and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraud is higher than for one resulting from error as fraudmay involve collusion forgery intentional omissions misrepresentations or the overrideof internal control.

• Obtain an understanding of internal control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. Undersection 143(3)(i) of the Companies Act 2013 we are also responsible for expressing ouropinion on whether the company has adequate internal financial controls system in placeand the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of thegoing concern basis of accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or conditions that may cast significantdoubt on the Company's ability to continue as a going concern. If we conclude that amaterial uncertainty exists we are required to draw attention in our auditor'sreport to the related disclosures in the Ind AS financial statements or if suchdisclosures are inadequate to modify our opinion. Our conclusions are based on the auditevidence obtained up to the date of our auditor's report. However future events orconditions may cause the Company to cease to continue as a going concern

• Evaluate the overall presentation structure and content of theInd AS financial statements including the disclosures and whether the Ind AS financialstatements represent the underlying transactions and events in a manner that achieves fairpresentation.

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit. We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

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 sub-section(11) of section 143 of the Companies Act 2013 and on the basis of such checks of thebooks and records of the Company as we considered appropriate and according to theinformation and explanation given to us we give in "Annexure 1" a statement onthe matters specified in paragraphs 3 & 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 explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

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

c) The Balance Sheet the Statement of Pro t and Loss including othercomprehensive income the Cash Flow Statement and the statement of changes in equity dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid Ind AS Financial Statements complywith the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Actread with relevant rules issued thereunder.

e) On the basis of the written representations received from thedirectors as on 31st March 2021 taken on record by the Board of Directors none of thedirectors is disquali ed as on 31st March 2021 from being appointed as a director interms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls wegive our separate Report in "Annexure 2".

g) With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us:

i. The Company has not reported any pending litigations which wouldimpact its financial position.

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

iii. There were no amounts which were required to be transferred to theInvestor Education and Protection Fund by the Company.

Annexure 1 to the Independent Auditors' Report

(i) In respect of its fixed assets:

(a) The company has maintained proper records showing full particularsincluding quantitative details and situation of the fixed assets. However no registerspecifying the Asset is maintained by the Company.

(b) The fixed assets are physically verified by the managementaccording to a phased program designed to cover all the items over a period which in ouropinion is reasonable having regard to the size of the company and the nature of itsassets. Pursuant to the program a portion of the fixed assets have been physicallyverified by the management during the year and no material discrepancies were noticed onsuch physical verification. However no written report is available.

(c) The title deeds of immovable properties recorded in the books ofaccount of the Company are held in the name of the Company.

(ii) The company do not hold any inventory at the year end. As informedby the management the company had required control over the inventory & its operationduring the year however since there is no inventory paragraph 3(ii) of the Order is notapplicable to the Company.

(iii) In our opinion and according to information and explanationsgiven to us the Company has not granted any loans secured or unsecured to companiesfirms Limited Liability Partnerships or other parties covered in the register maintainedunder section 189 of the Act. Accordingly paragraph 3(iii) of the Order is not applicableto the Company.

(iv) As per the information and explanation given to us in respect ofloans investments guarantees and securities the Company has complied with theprovisions of Section 185 and 186 of the Act.

(v) In our opinion and according to the information and explanationsgiven to us the Company has not accepted any deposits from the public within theprovisions of Sections 73 to 76 of the Act and the rules framed there under. Thereforethe provisions of clause (v) of paragraph 3 of the Order are not applicable to theCompany.

(vi) As per the information and explanations given to us in respect ofthe class of industry in which the Company falls the maintenance of cost records has notbeen prescribed by the Central Government under sub-section (1) of section 148 of theCompanies Act 2013. Therefore the provisions of clause (vi) of paragraph 3 of the Orderare not applicable to the Company.

(vii) In respect of statutory dues:

(a) The company is generally regular in depositing with appropriateauthorities undisputed statutory dues including provident fund employees' stateinsurance income tax sales tax service tax duty of customs duty of excise Goods andService Tax cess and any other statutory dues applicable to it with the appropriateauthorities. According to the information and explanations given to us no undisputedamounts payable in respect of above dues were in arrears as at 31 March 2021 for aperiod of more than six months from the date they became payable.

(b) According to the information and explanations given to us thereare no dues of income tax goods and service tax duty of customs duty of excise whichhave not been deposited with the appropriate authorities on account of any dispute.

(viii) According to the information and explanation given to us thecompany has not defaulted in repayment of dues to bank / financial institutions. TheCompany has not taken loan from government or has no dues to debenture holders.

(ix) The Company has not raised moneys by way of initial public offeror further public offer (including debt instrument) or term loans hence reporting underclause (ix) of the CARO 2016 order is not applicable to Company

(x) During the course of our examination of the books and records ofthe Company carried out in accordance with the generally accepted auditing practices inIndia and according to the information and explanations given to us we have neither comeacross any instance of fraud by the Company or any fraud on the Company by its officers oremployees noticed or reported during the year nor have we been informed of any suchinstance by the management.

(xi) As per the information and explanations given to us no managerialremuneration has been paid / provided to directors during the year and hence point no.(xi) of the Order is not applicable to the company.

(xii) In our opinion the Company is not a Nidhi Company. Thereforethe provisions of clause (xii) of paragraph 3 of the Order are not applicable to theCompany.

(xiii) As per the information and explanation given to us alltransactions entered into by the Company with the related parties are in compliance withSections 177 and 188 of Act where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards.

(xiv) The Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Therefore the provisions of clause (xiv) of paragraph 3 of the Order are notapplicable to the Company

(xv) The Company has not entered into any non-cash transactions withdirectors or persons connected with him. Therefore the provisions of clause (xv) ofparagraph 3 of the Order are not applicable to the Company.

(xvi) As per the information and explanation given to us the Companyis not required to be registered under Section 45-IA of the Reserve Bank of India Act1934 .

Annexure 2 to the Independent Auditors' Report

Report on the Internal Financial Controls under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financialreporting of P.M. TELELINNKS LIMITED ("the Company") as of 31st March2021 in conjunction with our audit of the Ind AS financial statements of the Company forthe year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls 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("ICAI"). These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business including adherence tocompany's policies the safeguarding of its assets the prevention and detection offrauds and errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the "Guidance Note") and the Standards on Auditing specified undersection 143(10) of the Act to the extent applicable to an audit of internal financialcontrols both issued by the ICAI. Those Standards and the Guidance Note require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operated effectively in all materialrespects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness. Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor's judgement including the assessment ofthe risks of material misstatement of the financial statements whether due to fraud orerror.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internalfinancial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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 FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequateinternal financial controls system over financial reporting and such internal financialcontrols over financial reporting were operating effectively as at 31st March 2021 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 ICAI. Ouropinion is not modified in respect of this matter.

.