The Members of
STELLANT SECURITIES (INDIA) LIMITED Report on the Financial Statements
We have audited the accompanying financial statements ofSTELLANT SECURITIES (INDIA)LIMITED("the Company") which comprises the Balance Sheet as at March 31 2017Statement of Profit and Lossand Cash Row Statement for the year then ended and a summaryof significant accounting policies and other explanatory information.
Management's Responsibility for the 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 preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudentanddesign implementation and maintenance of adequate internal financial control that wereoperating effectively for ensuring the accuracy and completeness of the 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.
Our responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provisions of the Act and the Rules made there underincluding the accounting standards and matters which are required to be included in theaudit report.
We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act and other applicable pronouncements issued by The Institute ofChartered Accountants of India. Those Standards and pronouncements require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures (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 theauditor considers internal financial control relevant to the Company's preparation of thefinancial 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 accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.
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 the Actin the manner 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 2017;
(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 (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 3 and4 of the Order.
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 purpose 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 and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.
d) In our opinion the financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014
e) On the basis of written representations received from the directors as on March 31
. 2017 taken on record by the Board of Directors none of the directors isdisqualified as
on March 31 2017 from being appointed as a director in terms of Section 164(2) of theAct.
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 A"; and
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 litigation pending and hence there is no impact on itsfinancial position in the aforesaid financial statements.
II. The company did not have any long term contract including derivative contracts forwhich there were any material foreseeable losses.
III. There were no amounts which were required to be transferred to Investor Educationand Protection Fund by the company.
IV. The company has provided requisite disclosure in the financial statements as toholdings as well as dealing in specified Bank Notes during the period from 8th November2016 to 30th December 2016. Based on the audit procedures and relying on themanagement representation we report that the disclosures are in accordance with books ofaccount maintained by the Company and as produced to us by the Management. (Refer Note No:20)
| ||For P R AGARWAL & AWASTHI |
| ||CHARTERED ACCOUNTANTS |
| ||FRlN : 117940W |
| || |
| || |
| ||PAWAN KR AGARWAL |
|Place : Mumbai ||(Partner) |
|Date: 30/05/2017 ||M.No: 034147 |