You are here » Home » Companies » Company Overview » Regency Trust Ltd

Regency Trust Ltd.

BSE: 511585 Sector: Financials
NSE: N.A. ISIN Code: INE425F01028
BSE 00:00 | 01 Apr Regency Trust Ltd
NSE 05:30 | 01 Jan Regency Trust Ltd
OPEN 2.80
PREVIOUS CLOSE 2.80
VOLUME 50
52-Week high 3.74
52-Week low 2.80
P/E
Mkt Cap.(Rs cr) 3
Buy Price 2.89
Buy Qty 40.00
Sell Price 2.80
Sell Qty 950.00
OPEN 2.80
CLOSE 2.80
VOLUME 50
52-Week high 3.74
52-Week low 2.80
P/E
Mkt Cap.(Rs cr) 3
Buy Price 2.89
Buy Qty 40.00
Sell Price 2.80
Sell Qty 950.00

Regency Trust Ltd. (REGENCYTRUST) - Auditors Report

Company auditors report

To The Members

Regency Trust Ltd.

Report on the Financial Statements

We have audited the accompanying financial statements of Regency Trust Ltd. whichcomprise the Balance Sheet as at 31 March 2017 & the Statement of Profit and Loss theCash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the company in accordance with accounting principlesgenerally accepted in India including the Accounting Standards specified under section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating 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 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 anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances but not for the purpose of expressing an opinion onwhether the company has in place an adequate internal financial control system overfinancial reporting and operating effectiveness of such control. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company's Directors as well as evaluating the overallpresentation 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 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: i. In the case of the Balance Sheet of the stateof affairs of the Company as at 31 March 2017 ii. In the case of the Statement of Profitand loss of the profit for the year ended on that date;

And iii. In the case of the Cash Flow Statement of the cash flows for the year endedon 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 Section 143(11) of the CompaniesAct 2013 we give in the Annexure a statement on the matters specified in paragraphs 3and 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 Statement of Profit and Loss and Cash Flow Statement dealt withby 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 written representations received from the directors as on 31 March2017 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2017 from being appointed as a director in terms of Section 164(2) of theAct;

f. 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 our best of ourinformation and accounting 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 derivativescontracts for which there were any material foreseeable losses; iii. There were no amountswhich required to be transferred to the Investor Education and Protection

Fund by the Company

For Prakash Modi & Associates

Chartered Accountants Firm Registration No: 116900W

PrakashModi

Partner M. No. 101463

Date: May 24 2017 Place: Mumbai

ANNEXURE TO THE AUDITOR'S REPORT

(Referred to in paragraph (1) under the heading ‘Report on the Legal andRegulatory Requirements' of our Report of even date)

1. The Company does not have inventory and thus Clause 1(a) and (b) of Companies(Auditors' Report) Order is not applicable to the Company.

2. The company does not have any inventory and thus clause 3 (ii) of the companies(Auditor's Report) Order 2016 is not applicable to the Company.

3. The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under section 189 of the Act.

4. In our opinion and according to the information and explanations given to us; thereis adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of fixed assets and for the sale of services.Further on the basis our examination of the books and records of the company andaccording to the information and explanations given to us no major weakness has not beennoticed or reported.

5. The company has not accepted any deposits from the public covered under section 73to 76 of the Companies Act 2013

6. According to the information and explanation given to us the Central Government hasnot prescribed maintenance of cost records under sub-section (1) of Section 148 of the Actin respect of the any activities of the Company.

7. (a) According to the information and explanations given to us and based on therecords of the company examined by us the company is regular in depositing the undisputedstatutory dues with the appropriate authorities. According to the information andexplanations given to us and the records of the Company examined by us investor Educationprotection Fund Employees State Insurance Custom Duty Excise Duty Cess are notapplicable to the Company. (b) According to the information and explanations given to usand based on the records of the company examined by us there are no dues of Income TaxWealth Tax Service Tax Sales Tax Customs Duty and Excise Duty which have not beendeposited on account of any disputes. (c) There has not been an occasion in case of theCompany during the year under report to transfer any sums to the Investor Education andprotection Fund. The question of reporting delay in transferring such sums does not ariseas at 31st March 2017.

8. The accumulated losses of the Company have exceeded fifty percent of its net worth.The Company has made profit during the financial year covered by our audit.

9. According to the records of the company examined by us and as per the informationand explanations given to us the company has not availed of any loans from financialinstitutions or banks and has not issued debentures. 10. In our opinion and according tothe information and explanations given to us the Company has not given any guarantee forloan taken by others from a bank or financial institution during the year. 11. In ouropinion and according to the information and explanation given to us the company has notraised any term loans during the year. 12. During the course of our examination of thebooks and records of the company carried in accordance with the auditing standardsgenerally accepted in India we have neither come across any instance of fraud on or bythe Company noticed or reported during the course of our audit nor have we been informedof any such instance by the Management.

For Prakash Modi & Associates

Chartered Accountants Firm Registration No: 116900W

PrakashModi

Partner M. No. 101463

Date: May 24 2017 Place: Mumbai