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Symbiox Investment & Trading Co Ltd.

BSE: 539278 Sector: Financials
NSE: N.A. ISIN Code: INE653R01012
BSE 00:00 | 17 Aug 0.94 0.03
(3.30%)
OPEN

0.91

HIGH

0.94

LOW

0.89

NSE 05:30 | 01 Jan Symbiox Investment & Trading Co Ltd
OPEN 0.91
PREVIOUS CLOSE 0.91
VOLUME 3447
52-Week high 4.47
52-Week low 0.71
P/E 13.43
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.91
CLOSE 0.91
VOLUME 3447
52-Week high 4.47
52-Week low 0.71
P/E 13.43
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Symbiox Investment & Trading Co Ltd. (SYMBIOXINV) - Auditors Report

Company auditors report

To the Members of SYMBIOX INVESTMENT & TRADING CO LTD

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statements of M/s SYMBIOXINVESTMENT & TRADING CO LTD (‘the Company') which comprise the balance sheet asat 31st March 2017 the statement of profit and loss and the cash flow statement for theyear then ended and a summary of significant accounting policies and other explanatoryinformation (herein after referred to as "standalone Ind AS financialstatements").

Management's Responsibility for the Standalone 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 preparationand presentation of these standalone Ind AS financial statements that give a true and fairview of the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards (Ins AS) prescribed under Section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

Auditor's 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 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 standalone Ind AS financial statements are free from 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 auditor's 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 but not for the purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the standalone Ind AS financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis 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 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 of the Company as at 31st March 2017 and its profit and its cash flowsfor 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 of India in terms of sub-section (11) of Section 143 ofthe Act we give in the Annexure "A" a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable .

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 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;

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 Ind AS financial statements comply withthe Accounting 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 receivedfrom the directors as on 31st March 2017 taken on record by the Board of Directors noneof the directors is disqualified as on 31st March 2017 from being appointed as a directorin terms of Section 164 (2) of the Act; and

(f) with respect to the adequacy of Internal Financial Control over Financial Reportingof the company and the operating effectiveness of such control refer to our separatereport in Annexure B 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 pending litigations which would impact its financialposition ;

(ii) the Company did not have any long term contract including derivatives contract forwhich there were any material foreseeable losses; and (iii) there were no amountsrequired to be transferred to the Investor Education and Protection Fund by the Company.(iv) the Company has provided requisite disclosures in its standalone Ind AS financialstatements as to holdings as well as dealings in Specified Bank Notes during the periodfrom 8 November 2016 to 30 December 2016 and these are in accordance with the books ofaccounts maintained by the Company.

Refer Note 2.27 to the standalone Ind AS financial statements.

Poddar Agarwal & Co.

Chartered Accountants

FRN: 329486E

Date : 30/05/2017 Pravin Poddar

Place : Kolkata Partner

Annexure A

CARO 2016 Report on the Standalone Financial Statements of SYMBIOX INVESTMENT &TRADING CO LTD for the year ended 31st March 2017

To The Members of M/s SYMBIOX INVESTMENT & TRADING CO LTD

We refer to our report on the stand financial statements SYMBIOX INVESTMENT &TRADING CO LTD ( ‘the Company') for the year ended 31st March 2017We report that–

(i) (a) The company have fixed assets at the end of the financial year and hadpurchased fixed asset during the year and hence this clause is applicable to the company.

(b) The company have fixed assets of which physical verification done by the managementat reasonable intervals. No any material discrepancies were noticed on such verification.

(ii) The Company does inventory and the valuation of which is done on Market price orCost Price whichever

(iii) The Company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of CompaniesAct2013.

(iv) In respect of loans investments guarantees and security whether provisions ofsection 185 and 186 of the Companies Act 2013 have been complied with.

(v) According to the information and explanation given to us the company has notaccepted any deposit from the public.

(vi) In our opinion and according to information and explanation given to us thecompany does not manufacturing any goods and as such the provision related to maintenanceof cost records by the company under sub section (1) of section 148 of Companies Act 2013for any of its products as prescribed by Central Government are not applicable.

(vii) (a) The company is regular in depositing undisputed statutory dues includingprovident fund employees state insurance income-tax sales-tax service tax duty ofcustoms duty of excise value added tax cess and any other statutory dues to theappropriate authorities and according to informtion and explanation given to us. Accordingto information and explanations given to us no undisputed amounts payable in respect ofincome-tax sales-tax service tax value added tax cess were in arrears as at 31stMarch 2017 for a period of more than six months from the date they become payable.

(b) According to information and explanations given to us there are no due of Salestax income tax custom duty wealth tax value added tax cesses which have not beendeposited on account of any dispute.

(viii) In our opinion and according to information and explanations given to us thecompany has not defaulted in repayment of dues to a financial institution bank ordebenture holders.

(ix) In our opinion and according to information and explanations given to us thecompany has not raised money by way of initial public offer or further public offer(including debt instruments) and term loans.

(x) No fraud by the company or any fraud on the Company by its officers or employeeshas been noticed or reported during the year.

(xi) No managerial remuneration has been paid or provided during the year.

(xii) In our opinion and according to information and explanations given to us thecompany is not a nidhi company Accordingly clause (xii) of para 3 to Companies (Auditor'sReport) Order2016 is not applicable to company.

(xiii) In our opinion and according to information and explanations given to us therewas no transactions with the related parties during the year.

(xiv) The company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review.

(xv) The company has not entered into any non-cash transactions with directors orpersons connected with him.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

Poddar Agarwal & Co.

Chartered Accountants

FRN: 329486E

Date : 30/05/2017 Pravin Poddar

Place : Kolkata Partner Membership No. :309006

Annexure - A 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 SYMBIOXINVESTMENT & TRADING CO LTD ("the Company") as of 31st March 2017 inconjunction with our audit of the standalone Ind AS financial statements of the Companyfor the year ended on that date.

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 (‘ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required 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 judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained 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 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 that receipts andexpenditures 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.

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 our 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 31 March 2017 based on theinternal control over financial reporting criteria established by the Company 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.

Poddar Agarwal & Co.

Chartered Accountants

FRN: 329486E

Pravin Poddar

Date : 30/05/2017 Place : Kolkata Partner Membership No. : 309006