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

RSC International Ltd.

BSE: 530179 Sector: Industrials
NSE: N.A. ISIN Code: INE015F01019
BSE 00:00 | 19 Jun 4.53 0
(0.00%)
OPEN

4.53

HIGH

4.53

LOW

4.53

NSE 05:30 | 01 Jan RSC International Ltd
OPEN 4.53
PREVIOUS CLOSE 4.53
VOLUME 2
52-Week high 4.55
52-Week low 4.34
P/E
Mkt Cap.(Rs cr) 3
Buy Price 4.55
Buy Qty 147.00
Sell Price 4.53
Sell Qty 105.00
OPEN 4.53
CLOSE 4.53
VOLUME 2
52-Week high 4.55
52-Week low 4.34
P/E
Mkt Cap.(Rs cr) 3
Buy Price 4.55
Buy Qty 147.00
Sell Price 4.53
Sell Qty 105.00

RSC International Ltd. (RSCINTERNL) - Auditors Report

Company auditors report

To the Members of RSC International Limited

Report on the Financial Statements

We have audited the accompanying Ind AS financial statements of RSC International Limited (the Company) which comprise the Balance Sheet as at March 31 2019 the Statement of Profit and Loss the Cash Flow Statement for the year then ended and a summary of the significant accounting policies and other explanatory i nformation.

Management's Responsibility for the Financial Sta tements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act 2013 (the Act) with respect to the preparation of these financial statements to give a true and fair view of the financial position financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India including the Accounting Standards specified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and de tecting frauds and other irregularities selection and applica tion of appropriate accounting policies making judgments and estimates that are reasonable and prudent and design implementation and maintenance of adequate int ernal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into ac count the provisions of the Act and the Rules made thereunder including the Accounting and Auditing Standards and matters which are required to be included in th e audit report under the provisions of the Act and the Rules made thereunder and the Order under Section 143 (11) of the Act. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those Standards and pronouncements require that we comply with ethical re quirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment includin g the assessment of the risks of material misstatement of the financial statements whether due to fraud or error. In making those risk assessments the auditor co nsiders internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide 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 explanations given to us the aforesaid financial statements give the information required by the Act in the manner so requi red and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Company as a t March 31 2019 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by `the Companies (Auditor's Report) Order 201 6' issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act (hereinafter referred to as the Order) and on the basis of suc h checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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 best of 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 the Company 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 Statement dealt with by this Report are in agreement with the books of accounts.

(d) In our opinion the aforesaid Ind AS financial statements comply with the Accounting Standards speci fied 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 March 31 2019 taken on record by the Board of Directors none of the directors are disqualified as on March 31 2019 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the interna l financial controls over financial reporting of the Company and the operating effectiveness of such controls (refer to our separate Report in Annexure A) our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Com pany's internal financial controls over financial reporting. .

(g) With respect to the other matters t o be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to the best of our knowledge and belief and according to the information and explanations given to us:

i. The Company has no pending litigations as at March 31 2019;

ii. The Company has no long-term contracts including derivative contracts as at March 31 201 9;

iii. There were no amounts which were required to be trans ferred to the Investor Education and Protection Fund by the Co mpany during the year ended 31st March 2019.

As required by the Companies (Auditor's Report) Order 2016 (the Order) issued by the Central Government in terms of Section 143(11) of the Act we give in Annexure B a statement on the matters specified in paragraphs 3 and 4 of the Order.

Place: Mumbai For R.K.Mehta & Associates
Date: 27t hMay 2019 Chartered Accountant
FRN 106291W
Suresh Mehta- Partner
M. No 42524

ANNEXURE TO INDEPENDENT AUDITORS' RE PORT

(Referred to in paragraph 1 under the heading of `Reporting on other Legal and Regulatory Requirements' of our report of even date)

1. The company does not own any plant property & equipment during the said reporting year.

2. The physical verification of inventory has been conducted at reasonable intervals by the management and no material discrepancies were noticed by the management.

3. The company has not granted any loans secured or unsecured to companies firms Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the Companies Act 2013 during the said reporting year.

4. The company has no loans investments guarantees and security covered under section 185 and 186 of the Companies Act 2013 during the said reporting year.

5. The company has not accepted any deposits as per the provisions of the Companies Act 2013 and the rules framed thereunder.

6. The responsibility to maintain cost records has not been specified by the Central Government under sub-section (1) of section 148 of the Companies Act 2013.

7. a. The company is regular in depositing undisputed statutory dues including income-tax GST cess and any other statutory dues to the appropriate authorities. As on the last day of the said reporting year there are no arrears of outstanding statutory dues concerned for a period of more than six months from the date they became payable.

b. No dues of income tax or GST or duty of customs or duty of excise or value added tax have been disputed.

8. The company has not availed any loan or borrowing from any financial institution bank Government or debenture holders hence no default in repayment arises.

9. During the said reporting year the company did not raise any money by way of initial public offer or further public offer (including debt instruments) and term loans.

10. No kind of fraud by the company or any fraud on the Company by its officers or employees has been n oticed or reported during the said reporting year.

11. No managerial remuneration has been paid or provided during the said reporting year.

12. The company is not a Nidhi company.

13. There is no transactions with the related parties are in compliance with sections 177 and 188 of Companies Act 2013 where applicable and the details have been disclosed in the Financial Statements etc. as required by the applicable accounting standards.

14. The company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the said reporting year.

15. The company has not entered into any non-cash transactions with directors or persons connected with him during the said reporting period.

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

For R.K.Mehta& Associates
Place: Mumbai Chartered Accountant
Date: 27t hMay 2019 FRN 106291W
Suresh Mehta- Partner
M. No 42524