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Sri Krishna Constructions (India) Ltd.

BSE: 539363 Sector: Infrastructure
NSE: N.A. ISIN Code: INE094T01015
BSE 00:00 | 31 Mar 9.44 0
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9.44

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NSE 05:30 | 01 Jan Sri Krishna Constructions (India) Ltd
OPEN 9.44
PREVIOUS CLOSE 9.44
VOLUME 103
52-Week high 28.65
52-Week low 6.17
P/E 24.21
Mkt Cap.(Rs cr) 10
Buy Price 11.40
Buy Qty 6.00
Sell Price 9.44
Sell Qty 53000.00
OPEN 9.44
CLOSE 9.44
VOLUME 103
52-Week high 28.65
52-Week low 6.17
P/E 24.21
Mkt Cap.(Rs cr) 10
Buy Price 11.40
Buy Qty 6.00
Sell Price 9.44
Sell Qty 53000.00

Sri Krishna Constructions (India) Ltd. (SRIKRISHNACON) - Auditors Report

Company auditors report

ANNEXURE ‘A’

TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements’ section of my report to the Members of Sri Krishna Constructions(India) Limitedof even date)

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

(b) The fixed assets are physically verified during the year by the Management duringthe year. In my opinion the frequency of such verification is reasonable having regards tothe size of the Company and the nature of it’s fixed assets. No materialdiscrepancies were noticed on such physical verifications. (c) According to theinformation and explanations given to me and on the basis of my examination of the recordsof the Company the title deeds of immovable properties included in the fixed assets areheld in the name of the Company.

(ii) Physical verification of inventory in the form of Land has been conducted atreasonable intervals by the management and no material discrepancies were noticed onphysical verification

(iii) According to the information and explanations given to me the Company has notgranted any loans secured or unsecured to companies firms limited liabilitypartnerships or other parties covered in the register maintained under Section 189 of theCompanies Act 2013 (‘the Act’). Accordingly Clause 3 (iii) (a) (b) and (c) ofthe Order are not applicable to the Company.

(iv) In my opinion and according to the information and explanation given to me theCompany has complied with the provisions of Section 185 and 186 of the Act with respectto loans and investments made.

(v) During the year The Company has not accepted any deposits from the public.

(vi) Maintenance of cost records has not been specified by the Central Government undersub-section (1) of section 148 of the Companies Act

(vii) (a) According to the information and explanations given to me and on the basis ofmy examination of the records of the Company amounts deducted/accrued in the books ofaccount in respect of undisputed statutory dues including Provident fund Employees’State Insurance Income-tax Goods and Service tax duty of customs duty of excise valueadded tax cess and other material statutory dues which are outstanding for a period ofmore than six months from the date they became payable as on 31.03.2019 as under :

Sl. No. Nature of Dues Amount
1 TDS 3872333
2 Professional Tax 11200
3 ESI Employees Contribution 8918
ESI Employers Contribution 14832
4 PF Employees Contribution 463435
PF Employers Contribution 500801
5 Income Tax 43536366

(b) According to the information and explanations given to me there are no dues ofIncome-tax Sales tax Service tax GST Duty of customs Duty of excise and Value addedtax as at 31 March 2019 which have not been deposited with the appropriate authorities onaccount of any dispute.

(viii) In my opinion and according to the information and explanations given to me theCompany has defaulted in repayment of dues to the banker and overdue amount as at 31stMarch 2019 payable towards principal and interest is Rs. 11344284/-

(ix) According to the information and explanations given to me and based on myexamination of the records of the Company the Company has not raised any moneys by way ofinitial public offer or further public offer (including debt instruments) and has notobtained any term loans during the year.

Accordingly Clause 3(ix) of the Order is not applicable to the Company.

(x) During the course of my examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to me I have neither come across anyinstance of material fraud by the Company or on the Company by its officers or employeesnoticed or reported during the year nor have I been informed of any such case by theManagement.

(xi) In my opinion and according to the information and explanations given to me theCompany has paid/provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Act.

(xii) In my opinion and according to the information and explanations given to me theCompany is not a Nidhi company and the Nidhi Rules 2014 are not applicable to it.Accordingly Clause 3(xii) of the Order is not applicable to the Company.

(xiii) According to the information and explanations given to me and based on myexamination of the records of the Company transactions with the related parties are incompliance with Sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the standalone financial statements as required byapplicable Ind AS.

(xiv) According to the information and explanations given to me and based on myexamination 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. Accordingly Clause 3(xiv) of the Order is not applicable to the Company.

(xv) According to the information and explanations given to me and based on myexamination of the records of the Company the Company has not entered into any non-cashtransactions with directors or persons connected with them. Accordingly Clause 3(xv) ofthe Order is not applicable to the Company.

(xvi) In my opinion and according to the information and explanations given to me theCompany is not required to be registered under Section 45-IA of the Reserve Bank of IndiaAct 1934. Accordingly Clause 3(xvi) of the Order is not applicable to the Company.

For BharathBohra& Co.

Chartered Accountants

Firm No. 019238S

Bharath Kumar A Bohra

Proprietor

Membership No.237648

Place: Bangalore

Date: 30th May 2019

ANNEXURE "B" TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 2(f) under ‘Report on Other Legal and RegulatoryRequirements’ section of my report to the Members of Sri Krishna Constructions(India) Limitedof even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

I have audited the internal financial controls over financial reporting of SriKrishna Constructions (India) Limited("the Company") as of March 31 2019 inconjunction with my audit of the financial statements of the Company for the year ended onthat date. Management’s Responsibility for Internal Financial Controls The Board ofDirectors of the Company 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 responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to respective company’s policies the safeguarding of its assetsthe prevention 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.

Auditor’s Responsibility

My responsibility is to express an opinion on the internal financial controls overfinancial reporting of the Company based on my audit. I conducted my audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants of Indiaand the Standards on Auditing prescribed under Section 143(10) of the Companies Act 2013to the extent applicable to an audit of internal financial controls. Those Standards andthe Guidance Note require that I comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects.

My audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. My 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 procedures/selected depend on the auditor’s judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion on the internal financial controls system overfinancial reporting of the Company.

Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that ( 1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; ( 2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures 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.

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 my opinion to the best of my information and according to the explanations given tome the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2019 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

For Bharath Bohra & Co.

Chartered Accountants

Firm No. 019238S

Bharath Kumar A Bohra

Proprietor

Membership No.237648

Place: Bangalore

Date: 30th May 2019