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T & I Global Ltd.

BSE: 522294 Sector: Others
NSE: N.A. ISIN Code: INE811B01010
BSE 00:00 | 25 Jun 60.75 -6.20
(-9.26%)
OPEN

66.85

HIGH

66.85

LOW

60.00

NSE 05:30 | 01 Jan T & I Global Ltd
OPEN 66.85
PREVIOUS CLOSE 66.95
VOLUME 1954
52-Week high 102.90
52-Week low 39.20
P/E 7.57
Mkt Cap.(Rs cr) 31
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 66.85
CLOSE 66.95
VOLUME 1954
52-Week high 102.90
52-Week low 39.20
P/E 7.57
Mkt Cap.(Rs cr) 31
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

T & I Global Ltd. (TIGLOBAL) - Auditors Report

Company auditors report

To the Members of

T & I Global Limited

Report on the financial Statements

We have audited the accompanying financial statements of T & I Global Limited("the Company") which comprise the Balance Sheet as at March 312017 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of 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 andpresentation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and making estimates thatare reasonable and prudent; and design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe 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 financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing under section143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financialstatements are free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the entity's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe entity's internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion

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 atMarch 312017;

(b) In the case of the Statement of Profit and Loss of the Profit for the year endedon that date; and

(c) In the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirement

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 in paragraphs 3and 4 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 has been kept by theCompany so far as appears from our examination of those books and proper returns adequatefor the purpose of our audit have been received from branches not visited by us.

c. The report on the accounts of the branch offices audited under sub-section (8) ofsection 143 by a person other than a company's auditor has been sent to us under theproviso to the same sub-section as required and have been dealt with in preparing ourreport in the manner considered appropriate by us;

d. The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account and returns.

e. In our opinion the aforesaid Balance Sheet the Statement of Profit and Loss andCash Flow Statement comply with the Accounting Standards specified under Section 133 ofthe Act read with Rule 7 of the Companies (Accounts) Rules 2014.

f. The Company has not entered into any such financial transactions or matters whichhave any adverse effect on the functioning of the company.

g. On the basis of written representations received from the directors as on March312017 and taken on record by the Board of Directors none of the directors isdisqualified as on March 312017 from being appointed as a director in terms ofsub-section (2) of section 164 of the Companies Act 2013.

h. 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'; and

i. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditor's) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. There are no pending litigations on its financial position in its financialstatements.

ii. There were no material foreseeable losses on the long term contracts includingderivative contracts and as such the Company was not required to make any provision forthe same under the applicable law or accounting standards.

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

iv. The Company has provided requisite disclosures as to the holdings as well asdealings in Specified Bank Notes during the period from 8th November 2016 to 30thDecember 2016 and these are in accordance with the books of accounts maintained by thecompany - Refer note 2.25 of the Notes to Financial Statements.

For D. MURA & COMPANY
Chartered Accountants
Firm Reg. No. 328904E
(D. K. MITRA)
Place: Kolkata Proprietor
Date: 30th May 2017 M.No.:017334

Annexure A to Independent Auditors' Report

Referred to in paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirement" of our report of even date

(i) In respect of its Fixed assets:

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

b. As explained to us all the fixed assets of the Company have been physicallyverified by the management in phased periodical manner which in our opinion isreasonable having regard to the size of the Company and nature of its assets. No materialdiscrepancies have been noticed on such physical verification.

c. According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

(ii) The inventories of the Company have been physically verified during the year bythe management. In our opinion the frequency of verification is reasonable and asexplained to us there was no material discrepancies noticed on physical verification ofinventories.

(iii) The Company has not granted loans to any bodies corporate covered in the registermaintained under Section 189 of the Companies Act 2013 ('the Act'). Accordinglyparagraph 3(iii) of the Order is not applicable.

(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 with respectto the loans and investments made.

(v) According to the information and explanations given to us the Company has notaccepted any deposit in terms of directions issued by the Reserve bank of India and theprovision of section 73 to 76 or any other relevant provisions of the Companies Act andthe rules framed there under.

(vi) The Central Government has prescribed maintenance of cost records under Section148(1) of the Companies Act 2013 for any of the products of the Company. For suchproducts we have broadly reviewed the cost records maintained by the Company pursuant tothe Companies (Cost Records and Audit) Rules 2014. However not made a detailedexamination of the cost records with a view to determine whether they are accurate orcomplete.

(vii) In respect of statutory dues:

a. According to the records of the Company undisputed statutory dues includingProvident Fund Employees' State Insurance Income-Tax Sales Tax Service Tax Duty ofCustoms Duty of Excise Value Added Tax and Cess and other statutory dues have beengenerally regularly deposited with the appropriate authorities and no undisputed amountspayable in respect of statutory dues were in arrears as at 31 March 2017 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 materialdues of income tax sales tax service tax duty of customs duty of excise or value addedtax which have not been deposited with the appropriate authorities on account of anydispute. However according to information and explanations given to us the followingdues of Entry tax have not been deposited by the Company on account of dispute.

SI. No Nature of Dues Amount Due in Rs. Forum where pending Assessment Year
1. Entry-Tax 481099 Divisional bench of Calcutta High Court 2014-15
2. Entry Tax 837778 -Do- 2015-16
3. Entry Tax 555154 -Do- 2016-17
4. Entry Tax 606881 -Do- 2017-18
5. West Bengal Sales Tax Act1994 154938 Board Appeal 2014-2015

(viii) The Company has not defaulted in repayment of any loans or borrowings from anyfinancial institution banks government or debenture holders during the year.Accordingly paragraph 3(viii) of the Order is not applicable

(ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3(ix) of the Order is not applicable.

(x) According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

(xi) According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has paid / provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofSection 197 read with Schedule V to the Act.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(xiii) According to the information and explanations given to us and based on ourexamination 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 financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations given to us and based on ourexamination 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.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

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

For D. MURA & COMPANY
Chartered Accountants
Firm Reg. No. 328904E
(D. K. MITRA)
Place: Kolkata Proprietor
Date: 30th May 2017 M.No.:017334

Annexure B to Independent 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 ofT & IGlobal Limited ('the Company') as of 31 March 2017 in conjunction with our audit of thefinancial statements of the Company for 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 ('ICAI1). 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 the Company's policies the safeguardingof its 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 deemed to beprescribed under Section 143(10) of the Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting were established and maintained and if suchcontrols 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 auditors judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company's internal financial controls system overfinancial 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 financial reporting includes those policiesand procedures that (1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of theCompany; (2) provide reasonable assurance that transactions are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the Company are being madeonly in accordance with authorizations of the Management and directors of the Company; and(3) provide reasonable assurance regarding prevention or timely detection of unauthorizedacquisition use or disposition of the Company's assets that could have a material effecton 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 controlsover financial reporting to future periods are subject to the risk that the internalfinancial control over financial reporting may become inadequate because of changes inconditions or that the degree of compliance with the policies or procedures maydeteriorate.

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.

For D. MURA & COMPANY
Chartered Accountants
Firm Reg. No. 328904E
(D. K. MITRA)
Place: Kolkata Proprietor
Date: 30th May 2017 M.No.:017334