You are here » Home » Companies » Company Overview » Sanjivani Paranteral Ltd

Sanjivani Paranteral Ltd.

BSE: 531569 Sector: Health care
NSE: N.A. ISIN Code: INE860D01013
BSE 00:00 | 10 Feb 8.70 0
(0.00%)
OPEN

9.13

HIGH

9.13

LOW

8.70

NSE 05:30 | 01 Jan Sanjivani Paranteral Ltd
OPEN 9.13
PREVIOUS CLOSE 8.70
VOLUME 2
52-Week high 9.13
52-Week low 3.17
P/E
Mkt Cap.(Rs cr) 5
Buy Price 8.72
Buy Qty 231.00
Sell Price 8.70
Sell Qty 1255.00
OPEN 9.13
CLOSE 8.70
VOLUME 2
52-Week high 9.13
52-Week low 3.17
P/E
Mkt Cap.(Rs cr) 5
Buy Price 8.72
Buy Qty 231.00
Sell Price 8.70
Sell Qty 1255.00

Sanjivani Paranteral Ltd. (SANJIVPARANT) - Auditors Report

Company auditors report

To

The Members of

SANJIVANI PARANTERAL LIMITED.

Report on the Standalone Financial Statements

We have audited the accompanying standalone IND AS financial statements of SANJIVANIPARANTERAL LIMITED. ("the Company") which comprise the Balance Sheet as at31st March 2018 the Statement of Profit and Loss Cash flow Statement and Statement ofChanges in Equity for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management's Responsibility for the Standalone 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 preparationand presentation of these standalone IND AS financial statements that give a true and fairview of the financial position and financial performance of the Company in accordance withthe accounting principles generally accepted in India including the Indian AccountingStandards (IND AS) specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone IND AS financialstatements based on our audit. We have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made thereunder. We conductedour audit in accordance with the Standards on Auditing specified under Section 143(10) ofthe Act. Those Standards require that we comply with ethical requirements and plan andperform the audit to obtain reasonable assurance about whether the financial statementsare free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone IND AS financial statements. The procedures selecteddepend on the auditor's judgement including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error.

In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation and fair presentation of the standalone IND ASfinancial 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 standalone Ind ASfinancial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Standalone IND AS Financial Statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone IND AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at 31st March 2018 and its loss for the year ended on that date.

Emphasis of Matter

Attention is drawn to :

a) Point (viii) to Annexure A to Audit Report regarding loans taken by company fromvarious Banks have been declared as Non Performing Asset(NPA) by the bank in previousfinancial year and non provision of interest on these loans by the compnay in FInancialStatements.

b) Note No 27 of Notes to Accounts regarding credit of Rs. 96836479 in cash creditaccount with State Bank of India on 26th March 2018. In absence of any explanation frombank the said amount is reflected as "other Liabilities" in FinancialStatements.

Our opinion is not modified with respect to these matters.

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) of section 143 ofthe Companies Act 2013 we give in the Annexure "A" a statement on the mattersspecified in paragraphs 3 and 4 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 appears from our examination of those books.

c) the Balance Sheet and Statement of Profit and Loss dealt with by this Report are inagreement with the books of account.

d) In our opinion the aforesaid standalone IND AS financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with Rule 7 ofthe 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 Directros 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 outstanding long-term contracts including derivativecontracts as at 31st March 2018 for which 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.

For M/s R.B. Gohil & Co.
Chartered Accountants
FRN :- 119360W
Place : Mumbai (Raghubha B Gohil)
Dated : 30 th May 2018 Partner
Membership No. 104997

ANNEXURE- A TO THE AUDIT REPORT

The Annexure referred to the Independent Auditor's Report to the members of the Companyon the standalone IND AS financial statements for the year ended 31st March 2018 wereport that:

(I) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets. "

(b) As explained to us these fixed assets have been physically verified by themanagement at reasonable intervals. No material discrepancies were noticed on suchphysical verification.

(c) The title deeds of immovable properties are held in the name of the company

(ii) As explained to us inventories have been physically verified by the management atregular intervals during the year and there were no material discrepancies noticed onphysical verification of inventory as compared to the book records.

(iii) As informed to us the Company has not granted any loans secured or unsecured tocompanies firms limited liability partnership firm or other parties covered in theregister maintained under section 189 of the Companies Act 2013. Accordingly clause3(a) 3 (b) & 3 (c) are not applicable.

iv) There are no transactions undertaken by the company which attracts provisions ofsection 185 and 186 of the Companies Act 2013 and hence this clause is not applicable.

(v) The company has not accepted any deposits from the public.

(vi) We have broadly reviewed the books of accounts relating to materials labour andother items of cost maintained by the company pursuant to the Rules made by the CentralGovernment for the maintenance of cost records under sub-section (1) of section 148 of theCompanies Act 2013 and we are of the opinion that prima facie the prescribed accounts andrecords have been made and maintained.

(vii) In respect of statutory dues :

a) According to the records of the company undisputed statutory dues includingProvident Fund Employee's State Insurance Income Tax Sales Tax Service Tax duty ofcustoms duty of excise value added tax Cess and other statutory dues have beengenerally regularly deposited with the appropriate authorities except in respect of belowmentioned dues which were outstanding as at the balance sheet date for a period of morethan 6 months from the date of becoming payable.

Nature of Dues Period to which it relates Amount Outstanding (Rs.)
TDS 2017-18 2616666

(b) According to information and explanation given to us there are no disputed dueswhich have not been deposited by the company in respect of Income Tax/Sales Tax/Duty ofCustoms/Duty of excise or Value added tax.

viii) Based on our audit procedures and according to the information and explanationsgiven to us the company has defaulted in repayment of loans or borrowings to thefinancial institutions banks government or debenture holders and the details are asunder :

Particulars Amount of default as at balance sheet date Period of default
Term Loan 31982802 JANUARY 2017 ONWARDS
State Bank Of India Bank CC 156136479 JANUARY 2017 ONWARDS
The Shamrao Vitthal Co-Op. Bank CC 136504224 JANUARY 2017 ONWARDS
Axis Bank CC 209878468 JANUARY 2017 ONWARDS

(ix) The company has not raised any money by way of initial public offer or furtherpublic offer {including debt instruments) and term loans. Hence this clause is notapplicable.

(x) Based on our audit procedures and the information and explanation made available tous no fraud by the company or any fraud on the Company by its officers or employees hasbeen noticed or reported during the year.

xi) Managerial remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the CompaniesAct.

(xii) The Company is not a Nidhi Company and hence this clause is not applicable.

(xiii) All transactions with the related parties are in compliance with section 177 and188 of Companies Act 2013 where applicable and the details have been disclosed in the INDAS Financial Statements etc. as required by the applicable accounting standards.

(xiv) The company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review and hencethis clause is not applicable.

(xv) The company has not entered into any non-cash transactions with directors orpersons connected with him.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of lndia Act1934.

ANNEXURE - B TO THE AUDITOR'S 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 SanjivaniParanteral Ltd as of 31st March 2018 in conjunction with our audit of the standalone INDAS financial statements of the Company for the year ended on that date.

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 authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised 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 2018 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.

For M/s R.B. Gohil & Co.
Chartered Accountants
FRN :- 119360W
PLACE : MUMBAI (Raghubha B Gohil)
Dated : 30th May 2018 Partner
Membership No. 104997