You are here » Home » Companies » Company Overview » Pulsar International Ltd

Pulsar International Ltd.

BSE: 512591 Sector: Financials
NSE: N.A. ISIN Code: INE183U01014
BSE 00:00 | 13 Mar 1.05 0
(0.00%)
OPEN

1.05

HIGH

1.05

LOW

1.05

NSE 05:30 | 01 Jan Pulsar International Ltd
OPEN 1.05
PREVIOUS CLOSE 1.05
VOLUME 100
52-Week high 1.05
52-Week low 1.05
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.05
Sell Qty 1600.00
OPEN 1.05
CLOSE 1.05
VOLUME 100
52-Week high 1.05
52-Week low 1.05
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.05
Sell Qty 1600.00

Pulsar International Ltd. (PULSARINTL) - Auditors Report

Company auditors report

O THE MEMBERS OF PULSAR INTERNATIONAL LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of PULSAR INTERNATIONAL LIMITED("the Company") which comprise the Balance Sheet as at 31st March 2018 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of the significant 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.

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 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 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 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 overall presentationof 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:

a) In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2018;

b) In the case of the Statement of Profit & Loss of the loss for the year ended onthat date and

c) In the case of the Cash Flow Statement of the cash flows for the year on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("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 statement on the matters specified in paragraphs 3 and4 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 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 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 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 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financialposition;

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

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

Mumbai: 30th May 2018 For M.S. Parikh & Co.
Chartered Accountants
Firm Registration No.107558W
D. A. Parikh
Partner
Membership No:- 104671

ANNEXURE ‘A' TO THE INDEPENDENT AUDITORS' REPORT

Referred to in Paragraph 1 under the heading "Report on other legal and regulatoryrequirements" of our report of even date.

(i)(a) The Company has generally maintained proper records showing full particularsincluding quantitative details and situation of its fixed assets.

(b) All the major assets have been physically verified by the management during theyear. We are informed that no material discrepancies were noticed on such verification.

(c ) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

(i) Physical verification of inventory has been conducted as reasonable intervals bythe management and no discrepancies were noticed on such verification.

(iii) According the information and explanation given to us the company has notgranted any loans secured or unsecured to companies firms limited liabilitypartnerships or other parties covered in the register maintained under section 189 of theCompanies Act 2013. Accordingly the provisions of paragraph 3(iii) of the Order are notapplicable to the Company.

(iv) The Company has not advanced any other loan or given any guarantee or provided anysecurity or made any investment covered under section 185 and 186 of the Act.Consequently requirements of clause (iv) of paragraph 3 of the order are not applicable.

(v) The Company has not accepted any deposits from the public to which the provisionsof Sections 73 to 76 or any other relevant provisions of the Companies Act 2013 and rulesframed therunder and directions issued by R.B.I. would apply.

(vi) The Company is not engaged in production processing manufacturing or miningactivities. Therefore the provisions of maintenance of cost records specified by theCentral Government under section (1) of section 148 of the Companies Act 2013 mentioned inclause (vi) of paragraph 3 of the Order are not applicable.

(vii) (a)The Company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund Employees' state insurance IncomeTax Service Tax Cess and other statutory dues applicable to it. According to theinformation and explanations given to us no undisputed amounts payable in respect ofoutstanding statutory dues were in arrears as at March 31 2018 for a period of more thansix months from the date they became payable.

(b) There are no income tax dispute and demand pending of the Company.

(viii) The Company has not taken any loan from banks financial institutionsGovernment or debenture holder.

(ix) The Company has not raised money by way of initial public offer or further publicoffer (including debt instruments) or term loans. Consequently provisions of clause (ix)of paragraph 3 of the order are not applicable.

(x) To the best of our knowledge and belief and according to the information andexplanations given to us no fraud by the Company or on the Company by its officers oremployees has been noticed or reported during the year.

(xi) To the best of our knowledge and belief and according to the information andexplanations given to us managerial remuneration has been paid/ provided in accordancewith the requisite approvals mandated by the provisions of section 197 read with ScheduleV to the Act.

(xii) The Company is not a Nidhi Company. Consequently requirements of clause(xii) ofparagraph 3 of the order are not applicable.

(xiii) To the best of our knowledge and belief and according to the information andexplanations given to us all transactions with the related parties are in compliance withsection 177 and 188 of the Act where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards.

(xiv) To the best of our knowledge and belief and according to the information andexplanations given to us the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Consequently requirements of clause (xiv) of paragraph 3 of the Order are notapplicable.

(xv) To the best of our knowledge and belief and according to the information andexplanations given to us the Company has not entered into any noncash transactions withthe directors or persons connected with him.

(xvi) To the best of our knowledge and belief and according to the information andexplanations given to us the Company is not required to be registered under Section 45IAof the Reserve Bank of India Act 1934.

Mumbai: 30th May 2018 For M.S. Parikh & Co.
Chartered Accountants
Firm Registration No.107558W
D. A. Parikh
Partner
Membership No:- 104671