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Sujala Trading & Holdings Ltd.

BSE: 539117 Sector: Financials
NSE: N.A. ISIN Code: INE029H01016
BSE 00:00 | 14 Aug 62.70 0
(0.00%)
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62.70

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62.70

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NSE 05:30 | 01 Jan Sujala Trading & Holdings Ltd
OPEN 62.70
PREVIOUS CLOSE 62.70
VOLUME 1
52-Week high 69.30
52-Week low 62.70
P/E
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 62.70
CLOSE 62.70
VOLUME 1
52-Week high 69.30
52-Week low 62.70
P/E
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sujala Trading & Holdings Ltd. (SUJALATRADING) - Auditors Report

Company auditors report

To the Members of

SUJALA TRADING & HOLDINGS LIMITED

REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS

We have audited the accompanying consolidated financial statements of SUJALA TRADING& HOLDINGS LIMITED ('the Company') and its subsidiary companies ("the companyand its subsidiary companies together referred as "the Group") which comprisethe consolidated balance sheet as at 31st March 2017 the consolidatedStatement of profit and loss and the consolidated cash flow statement for the year thenended and a summary of significant accounting policies and other explanatory information("the Consolidated financial statements").

MANAGEMENT'S RESPONSIBILITY FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The Holding Company's Board of Directors are responsible for the preparation of theseconsolidated financial statements in terms of the requirements of the Companies Act 2013('the Act') that give a true and fair view of consolidated financial performance andconsolidated cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act as applicable. The respective Board of Directors of the Company and itssubsidiary companies are responsible for maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Group and forpreventing 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 adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatementswhether due to fraud or error which have been used for the purpose of preparation of theseconsolidated financial statements by the Board of Directors of the Comoany.

AUDITOR'S RESPONSIBILITY

Our responsibility is to express an opinion on these consolidated financial statementsbased on our audit.

While conducting the audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made there under.

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

An audit involves performing procedures to obtain audit evidences about the amounts andthe disclosures in the consolidated financial statements. The procedures selected dependon the auditor's judgment including the assessment of the risks of material misstatementsof the consolidated financial statements whether due to fraud or error. In making thoserisk assessments the auditor considers internal financial control relevant to theCompany's preparation of the consolidated financial statements that give a true and fairview in order to design audit procedures that are appropriate in the circumstances. Anaudit also includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidences obtained by us and the audit evidence obtained bythe other auditors referred to in the 'Other Matter' paragraph below is sufficient andappropriate to provide a basis for our audit opinion on the consolidated financialstatements.

OPINION

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid consolidated 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 consolidated state of affairs ofthe Group as at 31st March 2017 and its consolidated profit and itsconsolidated cash flows for the year ended on that date.

OTHER MATTER

We did not audit the financial statements of 14 wholly owned subsidiary companieswhose financial statements reflect total assets of Rs. 298.61 Lacs as at March 31 2017Nil total revenues and net cash inflow amounting to Rs. 0.22 Lacs for the year ended onthat date as considered in the consolidated financial statements. These financialstatements have been audited by other auditors whose reports have been furnished to us bythe Management and our opinion on the consolidated financial statements in so far as itrelates to the amounts and disclosures included in respect of these subsidiaries is basedsolely on the reports of the other auditors.

Our opinion on the consolidated financial statements and are report on Other Legal andRegulatory requirements below is not modified in respect of the above matter with respectto our reliance on the work done and the reports of the other auditors.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by Section 143 (3) of the Act we report to the extent applicablethat:

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 of the aforesaidconsolidated financial statements.

b. In our opinion proper books of account as required by law relating to preparation ofthe consolidated financial statements have been kept so far as it appears from ourexamination of those books and reports of the other auditors.

c. The Consolidated Balance Sheet the Consolidated Statement of Profit and Loss andthe Consolidated Cash Flow Statement dealt with by this Report are in agreement with therelevant books of account maintained for the purpose of preparation of the consolidatedfinancial statements.

d. In our opinion the consolidated financial statements comply with the Accounting

Standards specified under Section 133 of the Act.

e. On the basis of the written representations received from the directors of theCompany as on 31st March 2017 taken on record by the Board of Directors of thecompany and the reports of the statutory auditors of its subsidiary companies incorporatedin India none of the directors are disqualified as on 31st March 2017 frombeing appointed as a director in terms of Section 164 (2) of the Act;

f. With respect to the adequacy of the internal financial controls over financialreporting and the operating effectiveness of such controls refer to our audit report in"Annexure A" which is based on the Auditor's Reports of the Company and itssubsidiary companies incorporated in India. Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the internal financial controls over financialreporting of the Company and its subsidiary companies incorporated in India.

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: .

a. The Group does not have any pending litigations on the consolidated financialposition.

b. The Group has made provisions in its consolidated financial statements as requiredunder the applicable law or accounting standards for material foreseeable if any.However the Group does not have any ongoing long-term contracts including derivativecontracts as on the Balance Sheet date.

c. There were no such amounts appearing in the books which are required to betransferred to the Investor Education and Protection Fund by the Group.

d. The Group has provided requisite disclosures in the financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8th iNovember 2016 to 30th December 2016. Based on audit procedures and I 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.

For MAROTI & ASSOCIATES
Chartered Accountants
Firm Registration No. 322770E
Radhika Patodia
Place- Kolkata Partner
Dated 30th May 2017 Membership No. 309219

Annexure - "A" To the Independent Auditors' Report

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")

We have audited the internal financial controls over financial reporting of SUJALATRADING & HOLDINGS LIMITED ("the Company") and its subsidiary companiesincorporated in India as at 31st March 2017 in conjunction with our audit ofthe consolidated financial statements of the Company for the year ended and as on thatdate.

MANAGEMENT'S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The respective Board of Directors of the Company and its subsidiary companiesincorporated in India are responsible for establishing and maintaining internal financialcontrols based on the respective internal control over financial reporting criteriaestablished by the Company and its subsidiary companies incorporated in India consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls over Financial Reporting issued by the Institute of CharteredAccountants of India (the 'Guidance note'). These responsibilities include the designimplementation and maintenance of adequate internal financial controls that were operatingeffectively for ensuring the orderly _ and efficient conduct of its business includingadherence to company's policies the safeguarding of its assets the prevention anddetection of frauds and errors the accuracy and completeness of the accounting recordsand the timely preparation of reliable 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 based on our audit. We conducted our audit in accordancewith the Standards on Auditing prescribed under section 143(10) of the Act and theGuidance Note to the extent applicable to an audit of internal financial controls overfinancial reporting. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate 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 judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidences we have obtained and the audit evidence obtained bythe other auditors of the subsidiary companies incorporated in India in terms of theirreports referred to in the other matter paragraph below is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover 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

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING

Misstatements due to error or fraud may occur and not be detected. Also projections ofany evaluation of the internal financial controls over financial reporting to futureperiods are subject to the risk that the internal financial control over financialreporting may become inadequate because of changes in conditions or that the degree ofcompliance with the policies or procedures may deteriorate.

OPINION

In our opinion to the best of our information and according to the explanations givento us the Company and its subsidiary companies incorporated in India have in allmaterial respects an adequate internal financial controls system over financial reportingand such internal financial controls over financial reporting were operating effectivelyas at 31st March 2017 based on the internal control over financial reportingcriteria established by the Company and its subsidiary companies incorporated in Indiaconsidering the essential components of internal control stated in the Guidance Note.

OTHER MATTER

Our aforesaid report under Section 143(3)(i) of the Act on the adequacy and operatingeffectiveness of the internal financial controls over financial reporting insofar as itrelates to wholly owned subsidiary companies incorporated in India based on thecorresponding reports of the auditors of such companies incorporated in India.

For MAROTI & ASSOCIATES
Chartered Accountants
Firm Registration No. 322770E
Radhika Patodia
Partner
Membership No. 309219
Place- Kolkata Dated 30th May 2017