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SW Investments Ltd.

BSE: 503659 Sector: Financials
NSE: N.A. ISIN Code: INE948K01011
BSE 00:00 | 13 Feb 20.80 0
(0.00%)
OPEN

20.80

HIGH

20.80

LOW

20.80

NSE 05:30 | 01 Jan SW Investments Ltd
OPEN 20.80
PREVIOUS CLOSE 20.80
VOLUME 700
52-Week high 27.50
52-Week low 17.15
P/E 4.66
Mkt Cap.(Rs cr) 2
Buy Price 18.90
Buy Qty 300.00
Sell Price 20.80
Sell Qty 500.00
OPEN 20.80
CLOSE 20.80
VOLUME 700
52-Week high 27.50
52-Week low 17.15
P/E 4.66
Mkt Cap.(Rs cr) 2
Buy Price 18.90
Buy Qty 300.00
Sell Price 20.80
Sell Qty 500.00

SW Investments Ltd. (SWINVESTMENTS) - Auditors Report

Company auditors report

TO

THE MEMBERS OF SW INVESTMENT LIMITED

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statements of SWINVESTMENT LIMITED ("the Company") which comprise the Balance Sheet as at 31stMarch 2018 and the Statement of Profit and Loss (including Other Comprehensive Income)the Statement of Changes in Equity the Statement of Cash Flows for the year then endedand a summary of the significant accounting policies and other explanatory information(hereinafter referred to as "Standalone Ind AS Financial Statements").

Management's Responsibility for the Standalone Ind AS 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 standalone Ind AS financial statements that give a true and fair view of the stateof affairs (financial position)profit or loss (financial performance including othercomprehensive income) changes in equity and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Indian AccountingStandards (Ind AS ) prescribed under Section 133 of the Act and relevant rules thereunder.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing 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 standalone IndAS financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these standalone Ind AS financialstatements based on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit of the standalone Ind AS financial statements in accordance withthe Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone Ind AS financial statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone Ind AS financial statements. The procedures selecteddepend on the auditors' judgment including the assessment of the risks of materialmisstatement of the standalone Ind AS financial statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the standalone Ind AS financial statements thatgive a true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectors as well as evaluating the overall presentation of the standalone Ind ASfinancial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India including the Ind AS of thestate of affairs (financial position) of the Company as at 31st March 2018 and its profit(financial performance including other comprehensive income) its changes in equity andcash flows and the for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditors' Report) Order 2016 ("the Order")issued by the Central Government of India in terms of Section 143(11) of the Act we givein the "Annexure A" a statement on the matters specified in paragraph 3 and 4 ofthe Order.

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 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 (Including Other ComprehensiveIncome)the Statement of Changes in Equity and the Statement of Cash Flows dealt with bythis Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone Ind AS financial statements comply withthe Ind AS prescribed under Section 133 of the Act.

(e) On the basis of the written representations received from the directors as on 31stMarch 2018 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 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 the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B". Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

(g) With respect to other matter to be included in the Auditor's Report in accordancewith the Rule 11 of the Companies (Audit and Auditors ) Rules 2014 in our opinion andto the best of our information and according to the explanations given to us:

i. There are no pending litigations

ii. The Company did not have material foreseeable losses on long term contractsincluding derivative contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For M B A H & Co.
Chartered Accountants
(Firm's Registration No: 121426W)
MAHESH BHAGERIA
Place : Mumbai Partner
Date : 18th May 2018 Membership No: 034499

ANNEXURE "A" TO THE INDEPENDENT AUDITORS' REPORT

REFERRED TO IN PARAGRAPH 1UNDER REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS OFOUR REPORT OF EVEN DATE TO THE MEMBERS OF SW INVESTMENTS LIMITED ON THE STANDALONEFINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2018.

i) The Company does not have any fixed assets; therefore this clause is notapplicable.

ii) There is no inventory; therefore this clause is not applicable.

iii) As per the information and explanation given to us and the records produced beforeus for verification the Company has not granted any loans secured or unsecured tocompanies firms limited liability partnerships or other parties covered in the registermaintained 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 in respect ofthe loans investments guarantees and securities.

v) In our opinion and according to the information and explanations given to us theCompany has not accepted deposits in terms of directives issued by the Reserve Bank ofIndia and the provisions of Sections 73 to 76 or any other relevant provisions of the Actand the rules framed there under.

vi) According to the information and explanations given to us the maintenance of costrecords has not been specified by the Central Government under Section 148(1) of theCompanies Act.

vii) a) According to the information and explanations given to us the Company isregular in depositing undisputed statutory dues including provident fund employees' stateinsurance income-tax sales-tax service tax duty of customs duty of excise valueadded tax cess and other statutory dues with the appropriate authorities. There are noundisputed statutory dues which are in arrears as at 31st March 2018 for a period ofmore than six months from the date they became payable.

b) According to the information and explanations given to us there are no dues ofincome-tax or sales-tax or service tax or duty of customs or duty of excise or value addedtax which have not been deposited as on 31st March 2018 on account of any dispute

viii) The Company does not have any loans from financial institutions and banks.

ix) The Company has not taken any term loan.

x) According to the information and explanations given to us no fraud by the companyor any fraud on the Company by its officers or employees has been noticed or reportedduring the year.

xi) According to the information and explanations given to us no managerialremuneration has been paid or provided during the year under review.

xii) The provisions of Nidhi Company are not applicable to the Company. Therefore Para3 (xii) of the Order is not applicable to the Company.

xiii) According to the information and explanations given to us all transactionswith the related parties are in compliance with sections 177 and 188 of the Act whereapplicable and the details have been disclosed in the Financial Statements as required bythe applicable accounting standards

xiv) According to the information and explanations given to us The Company has notmade any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year under review. xv) According to the information andexplanations given to us during the year the Company has not entered into any non-cashtransactions with directors or persons connected with him under Section 192 of the Act.

xvi) The Company is not required to be registered under Section 45 IA of the ReserveBank of India Act 1934.

For M B A H & Co.
Chartered Accountants
(Firm's Registration No: 121426W)
MAHESH BHAGERIA
Place : Mumbai Partner
Date : 18th May 2018 Membership No: 034499