You are here » Home » Companies » Company Overview » Paisalo Digital Ltd

Paisalo Digital Ltd.

BSE: 532900 Sector: Financials
NSE: PAISALO ISIN Code: INE420C01042
BSE 00:00 | 18 Apr 326.00 -1.10
(-0.34%)
OPEN

327.90

HIGH

329.50

LOW

326.00

NSE 00:00 | 18 Apr 321.55 -8.95
(-2.71%)
OPEN

321.75

HIGH

334.00

LOW

321.00

OPEN 327.90
PREVIOUS CLOSE 327.10
VOLUME 2532
52-Week high 370.00
52-Week low 237.20
P/E 23.54
Mkt Cap.(Rs cr) 1,322
Buy Price 311.00
Buy Qty 1.00
Sell Price 326.00
Sell Qty 435.00
OPEN 327.90
CLOSE 327.10
VOLUME 2532
52-Week high 370.00
52-Week low 237.20
P/E 23.54
Mkt Cap.(Rs cr) 1,322
Buy Price 311.00
Buy Qty 1.00
Sell Price 326.00
Sell Qty 435.00

Paisalo Digital Ltd. (PAISALO) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

M/S PAISALO DIGITAL LIMITED

(FORMERLY KNOWN AS M/S S. E. INVESTMENTS LIMITED)

NEW DELHI

REPORT ON THE STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying standalone financial statements of M/S PAISALODIGITALLIMITED (FORMERLY KNOWN AS M/S S. E. INVESTMENTS LIMITED ) (“theCompany”) which comprise the Balance Sheet as at 31st March 2018the Statement ofProfit the Cash Flow Statement for the year then ended and a summary of significantaccounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE STANDALONE 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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance 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 financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

AUDITOR'S RESPONSIBILITY

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

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 performingprocedures to obtain audit evidence about the amounts and the disclosures in the financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the 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 financial statements thatgive a true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by Company'sDirectors as well as evaluating the overall 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 standalone financial statements.

OPINION

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:

In the case of the Balance Sheet of the “State of Affairs” of the Company asat 31st March 2018;

In the case of the Statement of Profit and Loss of the “Profit” for the yearended on that date; and

In the case of the Cash Flow Statement of the “Cash Flows” for the yearended 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) ofSection 143 of the Companies Act 2013 we give in Annexure ‘A' a statement on thematters specified in paragraphs 3 and 4 of 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 it appears from our examination of those books;

c. The audit of all the branch offices of the Company has been conducted by us hencesection 143(8) is not applicable;

d. 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;

e. In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

f. On the basis of written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in terms ofSection 164(2) of the Act;

g. 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”; and

h. With respect to the other matters included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest of our information and according to the explanations given to us:

i. The Company does not have any pending litigations (other than in the ordinary courseof business) which would impact its financial position.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

Place : New Delhi For MUKESH KUMAR & CO.
Date : May 2 2018 Chartered Accountants
Firm Reg. No.002040C
Sd/-
(CA. MUKESH KUMAR)
Proprietor
Membership No. 070471

ANNEXURE ‘A' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in our Report of even date for F. Y. 2017-18)

i. The Company has maintained proper records to show full particulars includingquantitative details and situation of fixed assets. As explained to us the fixed assetshave been physically verified by the management at reasonable interval. According to theinformation and explanations given to us no material discrepancies were noticed on suchverification.

According to information and explanations given to us the title deeds of immovableproperties of the company are held in the name of the company.

ii. As explained to us inventory have been physically verified by the management atreasonable interval and no material discrepancies were noticed during physicalverification.

iii. The Company has granted loans secured or unsecured to companies firms Limitedliability partnership or other parties listed in the register maintained under Section 189of the Companies Act 2013. The terms & conditions of grant of such loans are notprejudicial to the interest of the company.

The repayment/receipt of the principal and interest of loan granted is regular andthere is no amount which is overdue.

iv. According to the information and explanations given to us the provisions ofsection 185 and 186 of the Companies Act 2013 in respect of loans investmentsguarantees and security have been complied with.

v. The Company is a Non Banking Financial (Non-Deposit Accepting or HoldingSystemically Important ND_SI)

Company hence directives issued by Reserve Bank of India and provisions of section 73to 76 or any other relevant provisions of the Companies Act 2013 and the Rules framedthere under are not applicable to the Company.

vi. Maintenance of cost records as required under sub-section (1) of section 148 of theCompanies Act 2013 are not applicable to the company.

vii. a) According to the information and explanations given to us the Company hasbeen regular in depositing with appropriate authorities undisputed statutory dues andthere are no undisputed amounts of Income Tax Service Tax Goods & Service Tax CessEmployees State Insurance Wealth Tax Sales Tax Customs Duty Excise Duty ProvidentFund etc. outstanding as at the last day of financial year concerned for a period of morethan six months from the date they became payable.

b) There are no dues of Income Tax Sales Tax Service Tax Goods & Service TaxCustom Duty Excise Duty and Value Added Tax on account of any dispute. viii. The Companyhas not defaulted in the repayment of loans or borrowings to a Financial Institution orBank or Government or dues to Debenture holders.

ix. According to the information and explanations given to us the Company had notraised money by way of initial public offer or further public offer or term loan duringthe year.

x. According to the information explanations given to us no fraud by the company orany fraud on the company by its officers or employees has been noticed or reported duringthe year.

xi. According to the information & explanations given to us provision of section197 read with Schedule V to the Companies Act 2013 for managerial remuneration paid orprovided have been duly complied with.

xii. According to the information & explanation given to us the Company is NonBanking Financial (Non-Deposit Accepting or Holding Systemically Important ND_SI) Companytherefore the clause xii of para no. 3 of the said order is not applicable to the company.

xiii. According to the information & explanation given to us the provisions ofsection 177 and 188 of the Companies Act 2013 regarding transaction with related partieshave been complied with and details of the transaction as per applicable accountingstandard have been disclosed in the notes to accounts of the Financial Statements.

xiv. According to the information & explanation given to us the clause xiv of Parano. 3 of the said order is not applicable to the company because the company has not madepreferential allotment or private placement of share or fully or partly convertibledebenture during the year.

xv. According to the information & explanation given to us no non-cashtransactions with directors or persons connected with him have been taken place duringthe year hence the provisions of section 192 of the Companies Act 2013 are notapplicable to the company.

xvi. According to the information & explanation given to us the company isregistered under section 45-IA of the Reserve Bank of India Act 1934 as Non BankingFinancial (Non-Deposit Accepting or Holding) Company.

Place : New Delhi For MUKESH KUMAR & CO.
Date : May 2 2018 Chartered Accountants
Firm Reg. No.002040C
Sd/-
(CA. MUKESH KUMAR)
Proprietor
Membership No. 070471

ANNEXURE ‘B' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in our Report of even date for F. Y. 2017-18)

REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (I) OF SUB – SECTION 3 OFSECTION 143 OF THE COMPANIES ACT 2013

We have audited the internal financial controls over financial reporting of M/S PAISALODIGITALLIMITED (FORMERLY KNOWN AS M/S S. E. INVESTMENTS LIMITED)as of 31st March 2018 inconjunction with our audit of the standalone financial statements of the Company for theyear ended on 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 criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India (‘ICAI'). 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 safeguarding ofits 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.

AUDITOR'S 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 their operating effectiveness. Our audit of internalfinancial controls over financial system over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion on the Company's internal financial controls system over financialreporting.

MEANING OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING designed to providereasonable assurance A company's internal financial control over financial statements forexternal purposes in accordance regarding there liability of financial reporting and thepreparation of financial with generally accepted accounting principles. A company'sinternal financial control over financial reporting includes those policies and proceduresthat (1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permit preparation offinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorizations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorized acquisition use ordisposition of the company's assets that could have a material effect on the financialstatements.

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 controls over financial reporting were operatingeffectively as at 31 reporting and such internal financial March 2018 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

Place : New Delhi For MUKESH KUMAR & CO.
Date : May 2 2018 Chartered Accountants
Firm Reg. No.002040C
Sd/-
(CA. MUKESH KUMAR)
Proprietor
Membership No. 070471