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Ranjit Securities Ltd.

BSE: 531572 Sector: Financials
NSE: N.A. ISIN Code: INE863D01017
BSE 05:30 | 01 Jan Ranjit Securities Ltd
NSE 05:30 | 01 Jan Ranjit Securities Ltd

Ranjit Securities Ltd. (RANJITSECURITIE) - Auditors Report

Company auditors report

TO THE MEMBERS OF M/s Ranjit Securities Limited

Report on the Financial Statements

We have audited the accompanying financial statements of M/s RanjitSecurities Limited as at 31st March 2018 which comprise the Balance Sheet as at March 312018 and the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

1. Management's Responsibility for the FinancialStatements

The Company's Board of Directors is responsible for the 'matter statedin Section 134(5)of the Companies Act 2013 with respect to the preparation andpresentation of these standalone financial statements that give a true and fair view ofthe financial position financial performance and cash flow of the company in accordancewith the Accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Companies Act 2013 read with Rule 7 ofCompanies(Accounts0 Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent ;and design implementation and maintenance ofadequate internal financial control relevant to the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

2. Auditors' Responsibility

Our responsibility is to express an opinion on these standalonefinancial statements based on our audit. We have taken into account the provisions of theCompanies Act Accounting and auditing standards and matters which are required to beincluded in the audit report under the provisions of the act and Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditingissued by the Institute of Chartered Accountants of India. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and disclosures in the financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor 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 but not for the purpose of expressing an opinion on theeffectiveness of the company's internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the standalone financialstatements.

3. Opinion

In our opinion and to the best of our information and according to theexplanations given to us the financial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of

a) In the case of the Balance Sheet of the state of affairs of theCompany as at March 31 2018;

b) In the case of the Profit and Loss Account of the profit for theyear ended on that date; and

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

Emphasis of Matter

The Company's shares are suspended from trading at Bombay StockExchange Ltd. (BSE) However the company has applied for Revocation of suspension ofshare with BSE which is yet to be concluded.

4. Report on Other Legal and RegulatoryRequirements

1. As required by the Companies (Auditor's Report) Order 2016 issuedby the Central Government of India in terms of subsection (11) of section 143 of theCompanies Act we give in the "Annexure -A" statement on the matters specifiedin paragraphs 3 and 4 of the Order to the extend 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 purpose of our audit;

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

c) The Balance Sheet Statement of Profit and Loss and Cash FlowStatement dealt with by this Report are in agreement with the books of account.

d) In our opinion the Balance Sheet Statement of Profit and Loss andCash Flow Statement comply with the Accounting Standards specified under section 133 ofthe Companies Act read with Rule 7 of the Companies (Accounts) Rules 2014

e) On the basis of written representations received from the directorsand taken on record by the Board of Director none of the directors is disqualified as on31st March 2018 from being appointed as a director in terms of section 164(2) of the Actas on 31st March 2018.

f) With respect to the adequacy of the internal financial controls overfinancial reporting of the company and the operating effectiveness of such controls referto our separate report in 'Annexure B'; and

g) With respect to other matters to be included in the Auditors Reportin accordance with Rule 11 of the companies (Audit and Auditors) Rule 2014 in our opinionand to the best of our information and according to explanation given to us as at 31stMarch 2018 :

I. The Company has disclosed the impact of pending litigations on itsfinancial position in its financial statements. Refer note no. 30(a) to (e) to thefinancial statement

II There was no material foreseeable losses on long term contractsincluding derivative contracts requiring to make provision under the applicable law oraccounting standards.

III. There were no amounts required to be transferred to the InvestorEducation and Protection Fund by the Company.

For Jain Doshi & Co.
Firm Reg. No.: 007365C
Chartered Accountants
Place: Indore
Date: 30/05/2018
(Rakesh Kumar Jain)
Membership No.: 075938