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Sikozy Realtors Ltd.

BSE: 524642 Sector: Infrastructure
NSE: N.A. ISIN Code: INE528E01022
BSE 00:00 | 12 Aug 1.10 0.05






NSE 05:30 | 01 Jan Sikozy Realtors Ltd
OPEN 1.10
VOLUME 143697
52-Week high 1.39
52-Week low 0.81
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.10
CLOSE 1.05
VOLUME 143697
52-Week high 1.39
52-Week low 0.81
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sikozy Realtors Ltd. (SIKOZYREALTORS) - Auditors Report

Company auditors report

The Members

Sikozy Realtors Limited

Report on the Audit of Financial Statements


We have audited the accompanying financial statements of Sikozy Realtors Limited (TheCompany) which comprise the Balance Sheet as at March 31 2021the Statement of Profit andLoss(Including Other Comprehensive Income) the Cash Flow Statement the Statement ofChanges in Equity and Notes to theFinancial Statementfor the year then endedincluding asummary of significant accounting policies and other explanatory information(Hereinafterreferred to as the " Financial Statement").

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 theCompanies Act 2013 (The‘Act') in the manner so required and give a true and fair viewin conformity with the accounting principles generally accepted in India including IndianAccounting Standards(‘Ind AS') specified under Section 133 of the Actof thefinancial position of the Company as at March 31 2021 and its Profit (including otherComprehensivesincome)its Cash Flows and changes in equity for the year ended on thatdate.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder Section 143 (10) of the Act.Our responsibilities under those standards are furtherdescribed in the Auditor's Responsibilities for the Audit of the Financial StatementsSection of our report. We are Independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India (TCAI')together with theethical requirements that are relevant to our audit of the Financial Statements under theprovisions of the Act and the Rules there-underand we have fulfilled our ethicalresponsibilities in accordance with these requirements and the Code of the Ethics.Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our opinion on the Financial Statements.

Key AuditMatters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period.

We have determined that there are no key audit matters to communicate in our report.

Information other than the Financial Statements and Auditor's Report thereon

The Company's Board of Directors is responsible for the other information.The Otherinformation comprises the information included in Management Discussion and AnalysisBoard's Report including Annexures in the Board Report and Shareholder information butdoes not include the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we donot express any form of assuranceconclusion thereon.

In connection with our audit of the financial statements our responsibility is to readthe other information and in doing soconsider whether the other information ismaterially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated.If based on the work we haveperformedwe concluded that there is a material misstatement of this other information weare required to report that fact.We have nothing to report in this regard.

Responsibilities of management and Those Charged with Governance for the StandaloneFinancial Statements.

The Company's Board of Director is responsible for the matters stated in Section 134(5)of The Companies Act 2013("The Act")with respect to the preparation andpresentation of these financial statements that give a true and fair view of the state ofaffairs (financial position) Profit or Loss (financial performance)(Including OtherComprehensive Income)and changes in the Equity and cash flows of the Company in accordancewith the Accounting principles generally accepted in Indiaincluding the Ind AS specifiedunder section 133 of the Act read with the Companies (Indian Accounting Standard )Rules2015as amended.This responsibility also includes the maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding of the assets of theCompany and for preventing and detecting frauds and other irregularities;selection andapplication of appropriate accounting policies;making judgement and estimates that arereasonable and prudent;and design implementation and maintenance of adequate internalfinancial controls

that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany' s ability to continue as a going concerndisclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operation or has no realisticalternative but to do so.

The Board of Directors of the Companyare also responsible for overseeing the financialreporting processof the Company.

Auditor's Responsibilities for the Audit of theInd AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Financialstatementsas whole are free from material misstatementwhether due to fraud or errors and to issuean auditor's report that includes our opinion.Reasonable assurance is a high level ofassurancebut is not a guarantee that an audit conducted in accordance with Standards onAuditing will always detect a material misstatement when it exists.Misstatements can arisefrom fraud or errors and are considered material if individually or in the aggregatethey could reasonably be expected to influence the economic decisions of users taken onthe basis of these financial statements.

As part of an audit in accordance with Standards on Auditingwe exerciseprofessionaljudgmentmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financialstatementswhether due to fraud or errors design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion.The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from erroras; fraud mayinvolvecollusionforgeryintentional omissions misrepresentationsor the override ofinternal control.

• Obtain an understanding of the internal controls relevant to the audit in orderto design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Actwe are also responsible for explaining our opinion on whether the Companyhas adequate internal financial controls system in place and the operating effectivenessof such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtainedwhether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern.If we conclude that a material uncertaintyexistswe are required to draw attention our auditor's report to the related disclosuresin the financial statements or if such disclosures are inadequate to modify ouropinion.Our conclusions are based on the audit evidence obtained upto the date of auditreport.However future conditions or events may cause the Company to cease to continue as agoing concern.

• Evaluate the overall presentationstructure and content of the financialstatementsincluding the disclosuresand whether the financial statements represent theunderlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements thatindividually or in aggregate makes it probable that the economic decisions of a reasonablyknowledgeable user of the financial statements may be influenced. We consider quantitativemateriality and qualitative factors in (i) planning the scope of our audit work and inevaluating the results of

our work and (ii) to evaluate the effect of any identified misstatements in thefinancial statements.

We communicate with those charged with governance regarding among other matterstheplanned scope and timing of the audit and significant audit findingsincluding anysignificant deficiency in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independenceand to communicate with them all

relationships and other matters that may reasonably be thought to bear on ourindependenceand where applicable related safeguard.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in audit of financial statements of the currentperiod and are therefore the key audit matters .We describe these matters in our auditor'sreport unless law or regulation precludes about public disclosures about the matters orwhen in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report ) Order2016 (The ‘Order')issued by the Central Government of India in terms of Section 143(11) of the Act we givein the Annexure Aa statement on the matters specified in paragraphs 3 and 4 of theOrder.\

2. Further to our comment in Annexure ‘A' As required by section 143 (3) of theAct 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 purpose 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 financial statementsdealt with by this report are in agreement with the books ofaccount.

d. In our opinionthe aforesaid Financial Statement comply with the IndAS specifiedunder section 133 of the Actread with Companies (Indian Accounting Standards) Rules2015as amended.

e. On the basis of written representation received from the directors and taken onrecord by the Board of Directors none of the directors is disqualified as on March 312021 from being appointed as a director in terms of Section 164(2) of the Act.

f. We have also audited the internal financial controls over financial reporting(IFCoFR) of the Company as on 31st March 2021in conjunction with our audit of the

financial statements of the Company for the year ended on that date and our report asper Annexure B expressed an unmodified opinion;

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 explanation given to us:

i. The Company does not have any pending litigation as at 31st March2021which wouldimpact its financial position.

ii. The Company did not have any long term contracts including derivative contracts asat 31st March 2021.

iii. There has been no delay in transferring amounts to the Investor Education andProtection Fund by the Company during the year ended on 31st March 2021.

Firm Reg. No.: 114852W
Place: Mumbai CA. B.K. Gupta
Date :28-05-2021 ( Partner)
M. No.: 040889

Annexure A to the Independent Auditors' Report

(Referred to in paragraph 1 under "Report on Other Legal and RegulatoryRequirements"

Of our report to the Members of SikozyRealtors Limited (‘the Company") forthe year ended March 31st 2021.

1. In respect of its Fixed Assets:

i. The company is maintaining proper records showing full particulars including

quantitative details and situation of fixed assets;

ii. As explained to usall the fixed assets have been physically verified by the

management during the year and no material discrepancies were identified on suchverification.The frequency of physical verification is reasonable having regard to thesize of the Company and nature of its business.

iii. As the company does not have any immovable properties Clause (i)(c) of the

Paragraph 3 of the Order is not applicable to the Company.

2. In our opinion the management has conducted physical verification of inventoryatreasonable intervals during the year. As per the information given no materialdiscrepancies were noticed on such verification.

3. According to the Information and explanations given to us The Company has notgranted any loans to bodies corporate covered in the register maintained under section 189of the Companies Act 2013 ('the Act') hence clause 3(iii) is not applicable.

4. In our opinion and according to the information and explanation given to us inrespect of Loans investment guarantees and securities the provisions of section 185 and186 of the Companies Act 2013 have been complied with.

5. The company has not accepted any deposits from the public within the meaning ofsections 73 to 76 of the Act and The Companies (Acceptance of Deposits)Rules2014(asamended).Accordingly the provisions of clause3(v) of the Order are not applicable.

6. The Central Government of India has not prescribed the maintenance of cost recordsunder sub-section 1 of section 148 of the Companies Act.


a) According to the information and explanations given to us and records of the companyexamined by us The company has generally beenregular in depositing liability towardsundisputed statutory dues including Provident Fund Employees State InsuranceIncometaxSales Tax Service Tax Duty of Custom Duty of Excise Value added Tax GST cess andother material statutory duesas applicablewith the appropriate authorities.According tothe information and explanations given to us and records of the company examined by usthere are no dues of income tax or wealth tax or service tax or duty of customs or duty ofexcise or value added taxGST or cess which were

in arrears as at 31-03-2021for a period of more than six months from the day theybecome payable.

b) According to the information and explanations given to us there are no dues of dutyof customsgoods and service tax and Income tax which have not been deposited with theappropriate authorities on account of dispute except the following

(i)Income Tax Demand u/s 271(1)(c) Rs 210720

(ii) Income tax Demand u/s 222Rs.6160

(iii) Income Tax Demand 2010-11 143 (1)(a) Rs 387940

8. The Company does not have anyloans or borrowings from any BanksFinancialInstitutionsGovernment and debenture holders during the year and accordingly the clauseis not applicable to the Company.

9. The Company has not raised any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyprovisions of Clause 3(ix) of the Order are not applicable to the Company.

10. No fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the period covered by our audit.

11. As required by Section 197(16) of the Act we report that the company has paidremuneration to its directors during the year in accordance with the provisions of andlimits laid down under Section 197 read with Schedule V to the Act.

12. The Company is not a NidhiCompany. Hence reporting under clause (xii)of the CARO2016 Order is not applicable.

13. In our opinion all the transactions with the related parties are in compliance withsection 177 and 188 of the Act wherever applicableand the requisite details have beendisclosed in the financial required by the Ind. AS ( Refer Note 20 tofinancial statements).

14. The Company has not made any Preferential /private placement of shares or privateplacement of fully or partly convertible debentures during the year underreview.Accordingly provisions of clause 3(ivx)of the order are not applicable.

15. In our opinionThe Company has not entered into any non-cash transactions with thedirectors or persons connected with them covered under section 192 of the Act.

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

Firm Reg. No.: 114852W
Place: Mumbai CA. B.K. Gupta
Date28-05 2021 (Partner)
M. No.: 040889

ANNEXURE "B" TO THE INDEPENDENT AUDITORS' REPORT of even date to the Membersof Sikozy Realtors Limited on the Financial statement for the year ended 31st March 2021

Independent Auditor's report on the Internal Financial Controls under clause(i)ofSubsection 3 of Section 143 of The Companies Act2013 (The" Act")

In conjunction with our audit of financial Statements of SikozyRealtors Ltd(TheCompany)as at and for the year ended on March 312021we have audited the internalfinancial Controls over financial reporting (IFCoFR)of the Company as of 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 the internal controlstated in the Guidance Note on Audit of Internal Financial Controls Over Financialreporting (The "Guidance note") issued by the Institute of Chartered Accountantsof India(ICAI). These responsibilities include the design implementation and maintenanceof adequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of its business including adherence to company's policiesthe safeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Act

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting (IFCoFR)based on our audit. We conducted our audit inaccordance with the Standards on auditing issued by the ICAI and deemed to be prescribedunder section 143(10) of the Act to the extent applicable to an audit of IFCoFR andGuidance Note issued by ICAI . Those Standards and the Guidance Note require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate IFCoFR were established and maintained and if suchcontrols operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy oftheIFCoFR and their operating effectiveness. Our audit of IFCoFRincluded obtaining anunderstanding of IFCoFR assessing the risk that a material weakness exists and testingand evaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's IFCoFR.

Meaning of Internal Financial Controls Over FinancialReporting

A company's IFCoFR is a process designed to provide reasonableassurance regarding thereliability of financial reportingand the preparation of financial statements forexternalpurposes in accordance with the Generally AcceptedAccounting Principles. Acompany's IFCoFR includes those policiesand procedures that:(i) pertain to the maintenanceof records that inreasonable details accurately and fairly reflect thetransaction anddispositions of the assets of thecompany;(ii) Provide reasonable assurance thattransactions arerecorded as necessary to permit preparation offinancial statements inaccordance with the generallyaccepted accounting principles and that receiptsandexpenditures of the company are being made only inaccordance with authorizations ofmanagement anddirectors of the company; and(iii) Provide reasonable assurance regardingprevention ortimely detection of unauthorized acquisition use ordispositions of thecompany's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of IFCoFR including the possibility of collusionor improper management override of controls material misstatements due to error or fraudmay occur and not be detected. Also projections of any evaluation of theIFCoFRto futureperiods are subject to the risk that the IFCoFR may become inadequate because of changesin conditions or that the degree of compliance with the policies or procedures maydeteriorate.


In our opinionthe Company has in all material respects adequate internal financialcontrols system over financial reporting and such internal financial controls overfinancial reporting were operating effectively asat 31st March 2021 based on the internalcontrol over financial reporting criteria established by theCompany considering theessential components of internal control stated inthe Guidance Note issued by the ICAI.

Firm Reg. No.: 114852W
Place: Mumbai CA. B.K. Gupta
Date:28-05-2021 (Partner)
M. No.: 040889
UDIN: 21040889AAAAGT9873