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R G F Capital Markets Ltd.

BSE: 539669 Sector: Financials
NSE: N.A. ISIN Code: INE684D01025
BSE 00:00 | 18 Apr R G F Capital Markets Ltd
NSE 05:30 | 01 Jan R G F Capital Markets Ltd
OPEN 1.57
PREVIOUS CLOSE 1.57
VOLUME 5
52-Week high 1.57
52-Week low 1.25
P/E
Mkt Cap.(Rs cr) 24
Buy Price 1.57
Buy Qty 1650.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.57
CLOSE 1.57
VOLUME 5
52-Week high 1.57
52-Week low 1.25
P/E
Mkt Cap.(Rs cr) 24
Buy Price 1.57
Buy Qty 1650.00
Sell Price 0.00
Sell Qty 0.00

R G F Capital Markets Ltd. (RGFCAPITAL) - Auditors Report

Company auditors report

To

The Members of

RGF CAPITAL MARKETS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of M/S RGF CAPITAL MARKETSLIMITED which comprise the Balance Sheet as at March 31 2017 the Statement of Profitand Loss 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

Management is responsible for the matters stated in section 134(5) of the companies act2013 (“the Act”) with respect to the preparation & presentation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the Accounting principlesgenerally accepted in India including the Accounting Standards referred under Section 133of the act. This responsibility includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the company andfor preventing and detecting frauds and other irregularities selection and application ofappropriate accounting policies making judgements and estimates that are reasonable andprudent and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 rules made there under. We conducted our audit in accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement. An audit involves performing procedures to obtain audit evidence about theamounts and 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 control relevant to the Company's preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement 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 these 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 stateof affairs of the Company as at March 31 2017; b) In the case of the Statement of Profitand Loss of the Profit for the year ended on that date. c) In the case of the Cash FlowStatement of the cash flows for the period ended 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 Act to report on the matters Specified in paragraphs 3 and 4 of thesaid Order we annex annexure B hereto a statement on the matters specified therein.

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 purpose of our audit. b. In our opinionproper books of account as required by law have been kept by the Company so far as appearsfrom our examination of those books. c. The Balance Sheet the statement of Profit andLoss and the cash flow statement dealt with by this Report are in agreement with the booksof account. d. In our opinion the aforesaid financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of thecompanies (Accounts) Rules 2014 ; e. On the basis of written representations receivedfrom the directors as on March 31 2017 and taken on record by the Board of Directorsnone of the directors is disqualified as on March 31 2017 from being appointed as adirector in terms of section 164(2) of the Companies Act 2013. f. With respect toadequacy of internal financial controls over financial reporting of the Company andoperating effectiveness of such controls refer to our separate report in “ AnnexureA” g. In our opinion and to the best of our information and according to theexplanations given to us we report as under with respect to other matters to be includedin the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014:

(i) The Company does not have any pending litigations which would impact its financialposition (ii) The Company does not have any long term contracts including derivativescontracts for which there were any material foreseeable losses; (iii) There has not beenan occasion in case of the Company during the year under report to transfer any sums tothe Investor Education and Protection Fund. The question of delay in transferring suchsums does not arise. (iv) The Company has provided requisite disclosures in the financialstatements as to dealing in specified bank notes during the period from November 8 2016to Dedember 30 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with books of accountmaintained by Company and as produced to us by the management. Refer note no. 20

Place: Kolkata

Date: 30.05.2017

For C.GHATAK & CO

Chartered Accountants

(CHINMAY GHATAK)

Partner

M.No.003591

FIRM REG NO: 302162E

Annexure A to the Auditors' 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 RGF CAPITALMARKETS LIMITED (“the Company”) as of 31 March 2017 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

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.

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 controls systemover 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 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.

Place: Kolkata

Date: 30.05.2017

For C.GHATAK & CO

Chartered Accountants

(CHINMAY GHATAK)

Partner

M.No.003591

FIRM REG NO: 302162E

Annexure B to the Auditors' Report

[Referred to in paragraph 1 under the heading ‘Report on Other Legal andRegulatory Requirements' of our Report of even date to the members of M/s RGF CAPITALMARKETS LIMITED on the accounts of the company for the year ended 31st March2017]

Based upon the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and in our opinion and in terms of the informationand explanations given to us and the books and records examined by us in the normal courseof audit we report that :- (i) In respect of its fixed assets : (a) The Company hasmaintained proper records showing full particulars including quantitative details andsituation of the fixed assets. (b) As explained to us fixed assets have been physicallyverified by the management at regular intervals during the year under audit in a phasedperiodical manner which in our opinion is reasonable having regard to size of thecompany and nature of its business. According to the information and explanations given tous no material discrepancies were noticed on such verification. (c) According to theinformation and explanations given to us and on the basis of our examination of therecords of the Company the title deeds of immovable properties are held in the name ofthe Company.

(ii) In respect of its inventory :

The Company has no inventory as on 31st March 2017.

(iii) There are no Companies covered in the registered maintained under section 189 ofthe Act for the purpose of loans granted by the Company.

(iv) In our opinion and according to the information and explanations given to us thecompany is a NBFC and the provisions of section 185 and 186 of the Act with respect tothe loans investments guarantees and security does not applicable to the Company.

(v) In our opinion and according to the information and explanation given to us thecompany has not accepted any deposits during the year under audit hence clause 3(v) of thesaid order is not applicable to the company.

(vi) In our opinion and according to the information and explanation given to us theCentral Government has not prescribed any maintenance of cost records under sub-section(1) of Section 148 of the Act in respect of the activities carried on by the Company;hence clause 3(vi) of the said order is not applicable to the company.

(vii) In respect of statutory dues :

(a) In our opinion and according to the information and explanation given to us theCompany has generally been regular in depositing undisputed statutory dues includingIncome-tax and any other statutory dues with the appropriate authorities. According to theinformation and explanations given to us no undisputed amounts payable in respect of theaforesaid dues were outstanding as at 31st March 2017 for a period of more thansix months from the date of becoming payable.

(b) According to the information and explanations given to us there were no amountspayable in respect of Income-tax or Cess which have not been deposited on account of anydispute.

(viii) In our opinion and according to the information and explanation given to us thecompany does not have any loans or borrowings from the financial institution bankGovernment or debenture holders during the year under audit .

(ix) In our opinion and according to the information and the explanation given to usthe company has not raised money by way of initial public offer or further public offer(including debt instruments) and term loans during the year.

(x) In our opinion and according to the information and the explanation given to us nofraud by the Company or any fraud on the Company by its officers or employees has beennoticed or reported during the course of our audit.

(xi) In our opinion and according to the information and the explanation given to usno managerial remuneration has been paid or provided by the Company.

(xii) In our opinion and according to the information and the explanation given to usthe company is not a nidhi company and hence clause 3(xii) of the said order is notapplicable to the company.

(xiii) In our opinion and according to the information and the explanation given to ustransactions with the related party are in compliance with sections 177 and 188 of the Actwhere applicable and details of such transactions have been disclosed in the financialstatements as required by the applicable accounting standards.

(xiv) In our opinion and according to the information and the explanation given to usthe company has not made any preferential allotment or private placement of shares orfully or partly convertible debentures during the year under review.

(xv) In our opinion and according to the information and explanations given to us thecompany has not entered into any non-cash transactions with directors or persons connectedwith him and hence clause 3(xv) of the said order is not applicable to the company.

(xvi) In our opinion and according to the information and explanations given to us thecompany is registered under section 45IA of the Reserve Bank Of India Act 1934 and theregistration Certificate of the same has been obtained by the Company. The Certificate ofRegistration No is.: B-05.00255 Dated 21.02.1998.

Place: Kolkata

Date: 30.05.2017

For C.GHATAK & CO

Chartered Accountants

(CHINMAY GHATAK)

Partner

M.No.003591

FIRM REG NO: 302162E