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Tradewell Holdings Ltd.

BSE: 531203 Sector: Infrastructure
NSE: N.A. ISIN Code: INE819G01012
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NSE 05:30 | 01 Jan Tradewell Holdings Ltd
OPEN 36.35
PREVIOUS CLOSE 36.35
VOLUME 82
52-Week high 43.05
52-Week low 22.55
P/E
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 36.35
CLOSE 36.35
VOLUME 82
52-Week high 43.05
52-Week low 22.55
P/E
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Tradewell Holdings Ltd. (TRADEWELLHOLD) - Auditors Report

Company auditors report

To

THE MEMBERS

BRAND REALTY SERVICES LIMITED

Report on the Standalone Ind AS Financial Statements

Opinion

We have audited the accompanying standalonelnd AS financial statements of M/S BrandRealty Services Limitedfthe Company") which comprise the Balance Sheet as at31st March 2021the Statement of Profit and Loss (including other comprehensive income)the Statement of Changes in Equity and the Statement of Cash Flows Statement for the yearended and a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalonelnd 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 Indiaincluding Indian AccountingStandards (Ind AS) specified under section 133 of the Act of the state of affairs of theCompany as at March 31 2021 and its loss the comprehensive income the change in equityand cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements and in forming ouropinion thereon and we do not provide a separate opinion on these matters.

We have determined that there are no key audit matters to communicate in our report.

Information other than the Financial Statements and Auditors' Report thereon

The Company's Board of Directors is responsible for theother information. The otherinformation comprises the information included in the Annual Report but does not includethe financial statements and our auditors' report thereon.

Our opinion on the financial statements does not cover the other information and we donot express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the other information ismaterially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If based on the work we haveperformed we conclude that there is a material misstatement of this other information weare required to report that fact.

We have nothing to report in this regard.

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 financial statements that give a true and fair view of the financial positionfinancial performance including other comprehensive income cash flowsand change in equityof the Company in accordance with the Indian Accounting Standards (Ind AS) prescribedunder Section 133 of the Act read with the Companies (Indian Accounting standards) Rules2015 as amended and other accounting principles generally accepted in India.

This responsibility also includes the maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting the frauds and other irregularities selection andapplication of appropriate accounting policies making judgments and estimates that arereasonable and prudent and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone financial statements that give a true and fair view and are free from anymaterial misstatement whether due to fraud or error.

Auditor's Responsibility

In conducting 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 and the Orderissued under Section 143(11) of the Act.

We conducted our audit of the standalone financial statements in accordance with theStandards on auditing specified under Section 143(10) of the Act. Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone financial statements are free from anymaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe standalone financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the standalone financial statements that give a true and fair view in orderto design audit procedures that are appropriate in the circumstances. An audit alsoincludes 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 standalone financial statements.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis forour audit opinion on the standalone financial statements.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of Section 143(11) of the Act we give in the 'Annexure A' astatement on the matters specified in paragraphs 3 and 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 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 comprehensive incomeStatement of Changes in Equity and the Statement of Cash Flows dealt with by this Reportare inagreement with the relevant books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act.

(e) On the basis of the written representations received from the directors as onMarch31 2021 taken on record by the Board of Directors none of the directors isdisqualified as on March 312021 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 on the adequacyand operating effectiveness of the Company's internal financial control over financialreporting.

(g) With respect to the other matters to be included in the Auditors' Report inaccordance with Rule 11 of the Companies(Audit and Auditors) Rules 2014as amended inour opinion and to the best of our information and according to the explanations give tous:

i. The Company has not disclosed the impact of pending litigation on its financialposition in its standalone financial statements of lease hold residential plot carryingvalue of Rs.3.69 lakhs which is under dispute.

ii. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii. There were no amounts which required to be transferred by the Company to theInvestor Education and Protection Fund.

FOR SHYAM RASTOGI & CO.
Chartered Accountants
(FRN 506951C)
Sd/-
SHYAM RASTOGI
Place:- Delhi (Partner)
Date :- 30-06-2021 M.No.085687 UDIN:21085687AAAADA6402

ANNEXURE ‘A' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements' section of our report to the members of Brand Realty Services Limited ofeven date)

Report on the matters specified in paragraph 3 of the Companies (Auditor's Report)Order 2016 issued by the Central Government of India in terms of Section 143 of theCompanies Act 2013 (‘the Act')

i) In respect of the Company's fixed assets:

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

b) These fixed assets have been physically verified by the management during the yearin accordance with a regular program of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals. According to theinformation and explanation given to us no material discrepancies were noticed on suchverification.

c) According to the information and explanations given to us and the records examinedby us and based on the examination of the conveyance deed provided to us we report thatthe title deeds comprising all the immovable freehold properties of land and buildingsare held in the name of the Company as at the balance sheet date except a lease holdresidential plot carrying value of Rs. 3.69 lakhs which is under dispute which wouldimpact its financial position.

ii) There is no inventory in the company therefore provisions of clause 3(ii)(a)(b)and(c) of the Order are not applicable to the company and hence not commented.

iii) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to a companies firms LLP or other partiescovered in the register maintained under Section 189 of the Companies Act 2013.Accordingly the provisions of clause 3(iii)(a) (b) and (c) of the Order are notapplicable to the Company and hence not commented upon.

iv) In our opinion and according to the information and explanations given to us theCompany has complied with the provision of Section 185 and 186 of the Act in respect ofgrant of loan and making investment in a company in which the Director is interested.

v) The Company has not accepted any deposits during the year. Therefore the provisionsof the clause 3(v) of the Order are not applicable to the Company.

vi) In our opinion the Central Government has not specified the maintenance of costrecords under Sub-Section (1) of Section 148 of the Companies Act2013 for any of theservices of the company.

vii) According to the information and explanations given to us in respect of statutorydues:

a) The Company was generally been regular in depositing undisputed statutory duesincluding Provident Fund Income Tax Good and Service Tax Cess and other materialstatutory dues applicable to it with the appropriate authorities.

b) There were no undisputed amounts payable in respect of Provident Fund Income TaxGood and Service Tax Cess and other material statutory dues in arrears as at March312021 for a period of more than six months from the date they became payable.

viii) In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of loans or borrowings to financialinstitutions. The Company has not taken any fresh loan or borrowing from any bank orfinancial institutions or government and has not issued any debentures.

ix) The Company did not raised any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyprovisions of clause 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) In our opinion and according to the information and explanations given to us theCompany has paid/ provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of Section 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) In our opinion and according to the information and explanations given to us theCompany is in compliance with Section 177 and 188 of the Companies Act2013 whereapplicable for all transactions with the related parties and the details of related partytransactions have been disclosed in the standalone Ind AS financial statements as requiredby the applicable accounting standards.

xiv) According to the information and explanations give 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 its directors or persons connected to its directors and hence provisionof Section 192 of the Companies Act 2013 are not applicable to the Company.

The Company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act 1934.

FOR SHYAM RASTOGI & CO.
Chartered Accountants
(FRN 506951C)
Sd/-
SHYAM RASTOGI
Place:- Delhi (Partner)
Date 30-06-2021 M.No.085687 UDIN:21085687AAAADA6402

ANNEXURE "B"TO INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 2 (f) under ‘Report on Other Legal and RegulatoryRequirements' section of our report of to the members of Brand Realty Services Limited ofeven date)

Report on the Internal Financial Controls Over Financial Reporting under Clause(l) ofsub-section 3 of Section 143 of the Companies Act 2013 (‘the Act')

We have audited the internal financial controls over financial reporting ofBrandRealty Services Limited ("the Company") as of March 312021 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat date.

Management's Responsibility for Internal Financial Controls

The Board of Directors of the company is responsible for establishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India". 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' issued by the Institute of Chartered Accountants of India andthe Standard on Auditing prescribed under Section 143(10) of the Companies Act 2013 tothe extent applicable to anaudit of internal financial controls. The Guidance Note andthose Standard require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively 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

1. A company's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting 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 authorisations of management and directors of the company; and

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

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 March 31 2021 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 SHYAM RASTOGI & CO.
Chartered Accountants
(FRN 506951C)
Sd/-
SHYAM RASTOGI
Place:- Delhi (Partner)
Date 30-06-2021 M.No.085687 UDIN:21085687AAAADA6402

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