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Peeti Securities Ltd.

BSE: 531352 Sector: Industrials
NSE: N.A. ISIN Code: INE328D01011
BSE 00:00 | 16 Jul 7.85 -0.40
(-4.85%)
OPEN

7.85

HIGH

7.85

LOW

7.85

NSE 05:30 | 01 Jan Peeti Securities Ltd
OPEN 7.85
PREVIOUS CLOSE 8.25
VOLUME 100
52-Week high 12.00
52-Week low 5.39
P/E 3.47
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.85
CLOSE 8.25
VOLUME 100
52-Week high 12.00
52-Week low 5.39
P/E 3.47
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Peeti Securities Ltd. (PEETISECURITIES) - Auditors Report

Company auditors report

To the Members Peeti Securities Limited Hyderabad.

Report on the Financial Statements

We have audited the accompanying financial statements of Peeti Securities Limited (‘theCompany') which comprise the balance sheet as at 31 March 2017 the statement of profitand loss and the cash flow statement for the year then ended and a summary of significantaccounting 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 preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting 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 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 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 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 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 of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances.

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 of the state of affairs of the Company as at 31March 2017 and its profit and its cash flows 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 sub-section (11) of section 143 ofthe Act we give in the Annexure A a statement on the matters specified in the paragraph3 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 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 7 of the Companies(Accounts) Rules 2014;

(e) On the basis of the written representations received from the directors as on 31March 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164 (2) of the Act;

(f) Our Separate report on adequacy of internal financial control system and operatingeffectiveness of such control is enclosed in Annexure-B

for MKA Associates
Chartered Accountants
FRN:005992S
Manoj Kumar Agarwal
Date : 25.05.2017 Partner
Place : Hyderabad M. No: 201740

Annexure-A to the Auditors' Report

The Annexure referred to in our report to the members of PEETI SECURITIES LIMITED forthe year ended 31st March 2017.

On the basis of the information and explanation given to us during the course of ouraudit we report that:

1. (a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

(b) These fixed assets have been physically verified by the management at reasonableintervals there was no Material discrepancies were noticed on such verification.

(c) The Company doesn't hold any immovable Property.

2. Physical verification of inventory has been conducted at reasonable intervals by themanagement and there is no material discrepancies were noticed

3. The company has not granted any loans secured or unsecured to companies firmsLimited Liability

Partnerships or other parties covered in the register maintained under section 189 ofthe Companies Act 2013.

4. The Company has complied to the provisions of section 185 and 186 of the CompaniesAct 2013 in respect of loans investments guarantees and securities.

5. The company has not accepted any deposits from the public with in the meaning ofSections 73 to 76 of the act and the rules framed thereunder to the extent notified.

6. Maintenance of cost records has not been specified by the Central Government undersub-section (1) of section 148 of the Companies Act 2013.

7 (a) The company is regular in depositing undisputed statutory dues includingprovident fund Employee's state insurance income-tax sales-tax service tax duty ofcustoms duty of excise value added tax cess and any other statutory dues to theappropriate authorities except for the following:

S No Name of the Statute Nature of the Dues Amount Period to which the Amount Relates
1 The Income Tax Act1961 TDS- Interest u/s 201 and Short Deduction 409/- A.Y 2016-2017
2 The Income Tax Act1961 TDS- Interest u/s 201 663/- A.Y 2015-2016
3 The Income Tax Act1961 TDS-Late filing fees 3600/- A.Y 2013-2014
4 The Income Tax Act1961 TDS- Interest U/S 201 5397/- Prior Years

(b) Dues of income tax or sales tax or service tax or duty of customs or duty of exciseor value added tax have been deposited on time there is no dispute is pending on the partof company.

8. The company hasn't made any default in repayment of loans or borrowing to afinancial institution bank Government or dues to debenture holders.

9. Neither any term loan has been obtained during the year nor any money was raised byway of public offer ( including debt instruments) during the year by the company.

10. No Fraud has been noticed or reported on or by the company during the Year.

11. Managerial remuneration has been paid or provided in accordance with the requisiteapprovals Mandated by the provisions of section 197 read with Schedule V to the CompaniesAct2013.

12. Company is not a Nidhi Company hence nothing to be disclosed for any provisionsapplicable on Nidhi Company.

13. All transactions with the related parties are in compliance with sections 177 and188 of Companies Act

2013 where applicable and the details have been disclosed in the Financial Statementsas required by the applicable accounting standards;

14. The company hasn't made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year.

15. The company hasn't entered into any non-cash transactions with directors or personsconnected with him.

16. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

for MKA Associates
Chartered Accountants
FRN:005992S
Manoj Kumar Agarwal
Date : 25.05.2017 Partner
Place : Hyderabad M. No: 201740

"Annexure B" to the Independent Auditor's Report

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 PeetiSecurities Limited ("the Company") as of 31 March 2017 in conjunction with ouraudit of the financial statements of the Company for the year 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

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. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company's internal financial controls system overfinancial 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 of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition useor disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent financial controls over financial reporting including thelimitations of internal 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 31 March 2017 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.

for MKA Associates
Chartered Accountants
FRN:005992S
Manoj Kumar Agarwal
Date : 25.05.2017 Partner
Place : Hyderabad M. No: 201740