You are here » Home » Companies » Company Overview » Sindhu Trade Links Ltd

Sindhu Trade Links Ltd.

BSE: 532029 Sector: Others
NSE: N.A. ISIN Code: INE325D01017
BSE 00:00 | 18 Feb 57.00 0
(0.00%)
OPEN

57.00

HIGH

57.00

LOW

57.00

NSE 05:30 | 01 Jan Sindhu Trade Links Ltd
OPEN 57.00
PREVIOUS CLOSE 57.00
VOLUME 20
52-Week high 139.90
52-Week low 57.00
P/E 6.37
Mkt Cap.(Rs cr) 293
Buy Price 59.00
Buy Qty 1.00
Sell Price 59.00
Sell Qty 599.00
OPEN 57.00
CLOSE 57.00
VOLUME 20
52-Week high 139.90
52-Week low 57.00
P/E 6.37
Mkt Cap.(Rs cr) 293
Buy Price 59.00
Buy Qty 1.00
Sell Price 59.00
Sell Qty 599.00

Sindhu Trade Links Ltd. (SINDHUTRADE) - Auditors Report

Company auditors report

To

The Members of

Sindhu Trade Links Limited

Report on the Standalone Financial Statements

Wc have audited the accompanying standalone financial statements of Sindhu Trade LinksLimited("thc Company") which comprise the Balance Sheet as at 31st March 2017the Statement of Profit and Loss and the Cash Flow Statement for the year then ended anda summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Financial Statements

1 he 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 preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including 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 provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

Wc conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that wc comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe standalone financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe standalone financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the standalone financial statements that give a true and fair view in orderto design audit procedures that are appropriate in the circumstances but not for thepurpose of expressing an opinion on whether the Company has in place an adequate internalfinancial control system over financial reporting and the operating effectiveness of suchcontrols. An audit also includes evaluating the appropriateness of the accounting policiesused and the reasonableness of the accounting estimates made by the Company's Directorsas well as evaluating the overall presentation of the standalone financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2017 and its profit and its cash flows for the year 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 in terms of Section 143(11) of the Act we give in theAnnexurc(A) a statement on the matters specified in paragraphs 3 and 4 of the Order tothe extent applicable.

2. As required by Section 143(3) of the Act we report to the extent applicable 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 the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under section 133 of the Act read with Rule 7 of theCompanies ( Accounts) Rules 2014.

(e) On the basis of the written representations received from the Directors as on 31stMarch 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 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 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. There is no pending litigation which would have its impact on financial statement.

ii. The Company did not have any long-term contracts including derivative contracts forwhich 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 Nagar Goel & Chawla

Chartered Accountants

FRN: 009933N

(New Delhi)

Deepak Nagar

Partner

Membership Number: 087456

Place: New Delhi

Date: 30th May 2017

ANNFXURE (A) TO THE INDEPENDENT AUDITORS' REPORT

The Annexure referred to in Independent Auditors' Report to Ihe members of the Companyon the standalone financial statements for the year ended 31 March 2017 we report that:

(i) In respect of its fixed assets:

(a] The Company has maintained proper records showing full particulars includingquantitative details and situation of the fixed assets;

(b) The Company has a regular programme of physical verification of its fixed assets.In accordance with this programme certain fixed assets were verified during the year andno material discrepancies were noticed on such verification. In our opinion thisperiodicity of physical verification is reasonable having regard to the size of theCompany and the nature of its assets:

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company;

(ii) In respect of its inventory:

(a) As explained to us the inventories were physically verified during the year by theManagement at reasonable intervals;

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the Management werereasonable and adequate in relation to the size of the Company and the nature of itsbusiness;

(c) In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification;

(iii) The Company has granted loans to eight bodies corporate covered in the registermaintained under section 189 of the Companies Act 2013 ('the Act').

(a) In our opinion the rate of interest and other terms and conditions on which theloans had been granted to the bodies corporate listed in the register maintained underSection 189 of the Act were not prima facie prejudicial to the interest of the Company

(b) In the case of the loans granted to the bodies corporate listed in the registermaintained under section 189 of the Act the borrowers have been regular in the payment ofthe principal and interest as stipulated.

(c) There arc no overdue amounts in respect of the loan granted to a body corporatelisted in the register maintained under section 189 of the Act.

(iv) In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Act with respectto the loans and investments made.

(v) According to the information and explanations given to us the Company does nothave any outstanding deposit during the year and has not accepted any deposit during theyear;

(vi) The company is not required to maintain the cost records under sub section (1) ofSection 148 of the Companies Act 2013; and therefore paragraph vi of the Order is notapplicable;

(vii) According to the information and explanations given to us in respect of statutorydues;

(a ) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company amounts deducted/ accrued in the books ofaccount in respect of undisputed statutory dues including provident fund income-taxsales tax value added tax duty of customs service tax cess and other materialstatutory dues have been regularly deposited during the year by the Company with theappropriate authorities. As explained to us the Company did not have any dues on accountof employees' state insurance and duty of excise.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax sales tax value added tax duty ofcustoms service tax cess and other material statutory dues were in arrears as at 31March 2017 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us ther e are no materialdues of duty of customs which have not been deposited with the appropriate authorities onaccount of any dispute. However according to information and explanations given to usthe following dues of income tax and custom duty have not been deposited by the Company onaccount of disputes:

Forum where dispute is pending Amount involved Amount deposited PERIOD
Income Tax
CIT(.A) 39513 NIL 2007-08
CIT(A) 26819 NIL 2008-09
CIT(A) 26819 NIL 2009-10
CIT[A) 4288122 NIL 2010-11
CIT(A) 51105 NIL 2011-12
C1T(A) 125557 NIL 2012-13
CIT(A) 83928 NIL 2013-14
Custom Duty:-
Appellate Tribunal 98732309 NIL 2015-16

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted in the repayment of dues to banks financial institutionsGovernment or dues to debenture holders;

(ix) The company does not raised moneys by way of initial public offer or furtherpublic offer (including debt instruments) and term loans were applied for the purposes forwhich those are raised;

(x) To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the company or any fraud on the Company by its officers oremployees has been noticed or reported during the year;

(xi) To the best of our knowledge and according to the information and explanationsgiven to us managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act;

(xii) In our opinion and according to the information and explanations given to us theCompany is

not a rridhi company. Accordingly paragraph 3(xii) of the Order is not applicable;

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 180 of the Act where applicable and details of suchtransactions have been disclosed in the standalone financial statements as required by theapplicable accounting standards;

(xiv) According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year;

(xv) According to the information and explanations given to us and based on ou rexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable;

(xvi) To the best of our knowledge and according to the information and explanationsgiven to us the company not is r equired to be registered under section 45IA of theReserve Rank ot India Act 1034.

For Nagar Geol & Chawla

Chartered Accountants

FRN:009933N

Deepak Nagar

Partner

Membership Number: 0874S6

Place: New Delhi

Date: 30th May 2017

ANNEXURF- B to the Auditors' 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 SindhuTrade Links Limited ("the Company") as of March 31 2017 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

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". These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired 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 judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence wrc have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols system over 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 (1J 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 those receipts andexpenditures of the company arc 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 cur 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 March 31 2017 based on"the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India".

For Nagar Gocl & Chawla

Chartered Accountants

FRN:009933N

Deepak Nagar

Partner

Membership Number: 087456

Place: New Delhi

Date: 30th May 2017.