The Members of
TTI ENTERPRISE LIMITED
Report on the Financial Statements
We have audited the accompanying Financial Statements of TTI Enterprise Limited("the Company") which comprise the Balance Sheet as at 31st March2018 the Statement of Profit and Loss and the Cash Flow Statement for the year then endedand a summary 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 ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detecting the 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 financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.
Our responsibility is to express an opinion on these financial statements based on ouraudit.
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 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 financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditors'judgment 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 financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.
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 confirmity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31st 2018 of its Profit and of the cash flow for 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 of the Act wegive in the "Annexure A" a statement on the matters Specified in paragraphs 3and 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 purpose 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 Statement of Profit and Loss and the Cash Flow Statement for theyear ended dealt with by this Report are in agreement with the books of account.
d) In our opinion the aforesaid financial statement comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.
e) On the basis of written representations received from the directors as on March 31st2018 taken on record by the Board of Directors none of the directors is disqualified ason March 31st 2018 from being appointed as a director in terms of section164(2) of Act.
f) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014:
i) The Company does not have any pending litigations which would impact its financialposition in its Financial Statements.
ii) The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.
iii)There were no amounts which were required to be transferred by the Company to theInvestor Education and Protection Fund.
For Jhawar Vithal & Co.
M. No.: 300406
"ANNEXURE-A" TO THE AUDITORS' REPORT
The Annexure referred to in Our Report of even date to the members of M/S. TTIENTERPRISE LTD. on the financial statements of the company for the year ended 31st March2018.
On the basis of such checks as we considered appropriate and according to theinformation and Explanations given to us during the course of our audit we report that:i) The Company does not have any fixed assets. Consequently para 3(i) of the Order arenot applicable.
ii) As per the information and explanation made available to us the Company does nothave physical inventory/ stock. The inventory of the Company comprises of shares onlyconsequently clause 3(ii)(a) and 3(ii)(b) of the order are not applicable to the Company.
iii) As per the information and explanation given to us the Company has not grantedany loans secured or unsecured to companies firms Limited Liability Partnerships orother parties covered in the Register maintained under Section 189 of the Companies Act2013. Consequently clause 3(iii)(a) 3(iii)(b) of the order are not applicable to thecompany.
iv) The provisions of Section 185 of the Act are not applicable to the Company. TheCompany has complied with the provisions of Section 186 of the Act to the extentapplicable.
v) In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public during the year. Therefore thedirectives issued by the Reserve Bank of India and the provisions of Section 73 to 76 orany other relevant provisions of the Companies Act 2013 and the rules framed thereunderare not applicable to the company. vi) As informed to us the Central Government has notprescribed maintenance of cost records under sub section (1) of Section 148 of the Act inrespect of the activities carried on by the Company. Thus para 3(vi) of the Order is notapplicable to the Company.
vii)In respect of statutory dues according to information and explanations given tous:
(a) The Company has generally been regular in depositing undisputed statutory duesincluding income-tax Tax deducted at sources Professional Tax Service Tax and othermaterial statutory dues as applicable to it with the appropriate authorities. Thus thereare no arrears of statutory dues which are outstanding as at 31st March2018for a period of more than six months from the date they became payable.
(b) There were no undisputed amounts payable in respect of Income Tax and othermaterial statutory dues on net basis.
viii) The Company has not defaulted in the repayment of dues to financial institutionbanks government or debenture holders as at Balance Sheet date.
ix) The Company has not raised any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglypara 3(ix) of the order is not applicable.
x) To the best of our knowledge and belief and according to the information andexplanations given to us no material fraud by the company and on the Company by itsofficers/ employees were noticed or reported during the year while conducting audit.
xi) The Company has paid for managerial remuneration within the limits of Section 197read with schedule V of the Act.
xii)The Company is not a Nidhi Company. Therefore clause xii of paragraph 3 of theOrder is not applicable to the Company.
xiii) According to information and explanation given to us and based on our examinationof the records of the Company transactions with related parties are in compliance withSection 177 and 188 of the Act where applicable and details of such transaction have beendisclosed in the financial statements as required by applicable accounting standard.
xiv) Based on our examination of the records of the Company and according to theinformation and explanations given to us the Company has not made any preferentialallotment / private placement of shares or fully or partly convertible debentures duringthe year.
xv) Based on our examination of the records of the Company and according to theinformation and explanations given to us the Company has not entered into any non-cashtransactions as referred to section 192 of the Companies Act 2013 with Directors orpersons connected with them. Accordingly clause 3(xv) of the Order is not applicable.xvi) According to the information and explanation given to us the Company is required tobe registered under section 45-IA of the Reserve Bank of India Act 1934 and holds a validcertificate of registration under the same.
For Jhawar Vithal & Co.
M. No.: 300406