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Sea Gold Infrastructure Ltd.

BSE: 530361 Sector: Infrastructure
NSE: N.A. ISIN Code: INE428P01013
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Sea Gold Infrastructure Ltd. (SEAGOLDINFRA) - Auditors Report

Company auditors report

OPINION

To

The Members of

M/s SEA GOLD INFRASTRUCTURE LIMITED

Hyderabad.

Report on the Financial Statements:

We have audited the accompanying financial statements of M/s SEA GOLDINFRASTRUCTURE LIMITED Hyderabad which comprise the Balance Sheet as at 31stMarch 2019 the Statement of Profit & Loss and the Cash Flow Statement for theyear then ended and a summary of the significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements:

The Company's Management Is responsible for the matters stated In section 134(5) of theCompanies 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 the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provision 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 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 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.

Auditors' 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 theprovision of the Act and the Rules thereunder.

We have conducted our audit in accordance with the Standards on Auditing under Section143(10) of the Act Those Standards require that we comply with the ethical requirementsand plan and perform the audit to obtain reasonable assurance about whether the financialstatements are free from material misstatement

An audit Involves performing procedures to obtain audit evidence about the amounts andthe 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 the auditor considers the Internal financial controlrelevant to the Company's preparation and fair presentation of the financial statements inorder to design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by the Management as well as evaluating the overallpresentation of the financial statements. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion:

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the Information required by the Act in themanner 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 state of affairs of the Company as at 31stMarch 2019;

(b) in the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date and

(c) in the case of the Cash Flow Statement of the cash flows of the Company for theyear ended on 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 sub-section (1) of section 143 ofthe Act we give in the Annexure A statement on the matters specified in paragraphs 3 and4 of the Order to the extent applicable.

2. As required by Section 143 (3) of the Act we report that:

(a) We have obtained all the information and explanations which to the best of ourknowledge 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 the Cash Flow Statement dealtwith by this Report are In agreement with the books of account.

(d) In our opinion the Balance Sheet Statement of Profit and Loss and the Cash FlowStatement comply with the Accounting Standards referred to in Section 133 of the Act readwith Rule 7 of the Companies (Accounts) Rules 2014;

(e) On the basis of the written representations received from the directors as on 31stMarch 2019 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2019 from being appointed as a director in termsof sub-section (2) of section 164 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 reference 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 explanation given to us:

(i) The Company has no pending litigations which Impacts on its financial position inits financial statements.

(ii) The company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long term contracts includingderivative contracts.

(iii) The company does not have any such amounts required to be transferred to InvestorEducation and Protection Fund during the financial year under audit hence the provisionsrelating to transfer of amount to Investor Education and Protection Fund are notapplicable.

For RAMESH ATHASNIYA & COMPANY
Chattered Accountants
CA. RAMESH ATHASNIYA
Partner.
M.No. 204976
Firm Reg NO.007480S
Date : 30th May 2019.
Place: Hyderabad.