You are here » Home » Companies » Company Overview » Unijolly Investments Company Ltd

Unijolly Investments Company Ltd.

BSE: 503671 Sector: Financials
NSE: N.A. ISIN Code: INE130N01010
BSE 05:30 | 01 Jan Unijolly Investments Company Ltd
NSE 05:30 | 01 Jan Unijolly Investments Company Ltd

Unijolly Investments Company Ltd. (UNIJOLLYINVEST) - Auditors Report

Company auditors report

To the Members of UNIJOLLY INVESTMENTS COMPANY LIMITED

Report on the Ind AS Financial Statements

I have audited the accompanying financial statements of UNIJOLLY INVESTMENTS COMPANYLIMITED ("the Company") which comprise the Balance Sheet as at March 312018 the Statement of Profit and Loss (including Other Comprehensive Income) the CashFlow Statement and the Statement of Changes in Equity for the year then ended and asummary of significant accounting policies and other explanatory information (hereinafterreferred to as "Ind AS financial statements").

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 Ind AS financial statements that give a true and fair view of the financialposition financial performance including other comprehensive income cash flows andchanges in equity of the Company in accordance with the accounting principles generallyaccepted in India including the Indian Accounting Standards (Ind AS) specified underSection 133 of the Act read with relevant rules issued 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 Ind ASfinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

My responsibility is to express an opinion on these Ind AS financial statements basedon my audit. I have taken into account the provisions of the Act the accounting andauditing standards and matters which are required to be included in the audit report underthe provisions of the Act and the Rules made thereunder.

I conducted my audit of Ind AS financial statements in accordance with the Standards onAuditing specified under Section 143(10) of the Act. Those Standards require that I complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the 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 Ind AS financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of theInd AS 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 Ind AS financial statements that give a true and fair view in order todesign audit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of the Ind AS financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my qualified audit opinion on the Ind AS financial statements.

Basis for qualified opinion

The Company has not obtained Certificate of Registration from Reserve Bank of India orits consent in accordance with the provisions of Section 45 IA of the Reserve Bank ofIndia Act 1934 for carrying on the business of dealing in investment in shares and othersecurities.

Opinion

In my opinion and to the best of my information and according to the explanations givento me except for the effect of the matter described in the Basis for Qualified OpinionParagraph the aforesaid Ind AS financial statements give the information required bythe Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:

a) in the case of the Balance Sheet of the state of affairs (financial position) ofthe Company as at March 31 2018;

b) in the case of Statement of Profit and Loss of the profit (financial performanceincluding other comprehensive income) for the year ended on that date;

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate; and

d) in the case of Statement of Changes in Equity of the changes in equity for the yearended on that date.

Other Matters

The comparative financial information of the Company for the year ended March 31 2017and the transition date opening balance sheet as at April 01 2016 included in these IndAS financial statements are based on the previously issued statutory financial statementsprepared in accordance with the Companies (Accounting Standards) Rules 2006 audited bythe previous auditor whose report for the year ended March 31 2017 and March 31 2016dated May 30 2017 and May 30 2016 respectively expressed a qualified opinion on thosefinancial statements as adjusted for the differences in the accounting principles adoptedby the Company on transition to the Ind AS which have been audited by me.

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 sub-section (11) of section 143 of the Act (hereinafterreferred to the "Order") and on the basis of such checks of the books andrecords of the Company as I considered appropriate and according to the information andexplanations given to me I give in the Annexure - 1 a statement on the matters specifiedin paragraphs 3 and 4 of the Order.

2. As required by Section 143 (3) (i) of the Companies Act 2013 I given in Annexure2 the report on Internal Financial Controls over Financial Reporting.

3. As required by the Non-Banking Financial Companies Auditor's Report (Reserve Bank)Directions 2008 issued by the Reserve Bank of India I give in the Annexure 3 astatement on the matters specified in paragraphs 3 and 4 of the said Directions.

4. As required by section 143(3) of the Act I report that:

a. I have sought and obtained all the information and explanations which to the best ofmy knowledge and belief were necessary for the purpose of my audit.

b. In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from my examination of those books.

c. The Balance Sheet Statement of Profit and Loss including Other ComprehensiveIncome the Cash Flow Statement and Statement of Changes in Equity dealt with by thisReport are in agreement with the books of account.

d. In my opinion the aforesaid Ind AS financial statements comply with the IndianAccounting Standards specified under Section 133 of the Act read with relevant rulesissued thereunder.

e. In my opinion the matter described in the Basis for Qualified Opinion paragraphabove may have an adverse effect on the functioning of the Company in accordance with theprovisions of RBI Act 1934 and the Rules made thereunder.

f. On the basis of written representations received from the Directors as on March 312018 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2018 from being appointed as a director in terms of Section 164(2) of theAct.

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) 2014 in my opinion and tothe best of my information and according to the explanations given to me;

i. The Company does not have any pending litigations which would impact its financialposition.

ii. In my opinion and as per the information and explanations provides to me theCompany has not entered into any long-term contracts including derivative contractsrequiring provision under applicable laws or accounting standards for materialforeseeable losses and

iii. The Company has no amounts required to be transferred to the Investor Educationand Protection Fund during the year under audit.

For G NAGENDRASUNDARAM & CO
Chartered Accountants
FRN: 005355S
G. NAGENDRASUNDARAM
HYDERABAD Proprietor
May 30 2018 M.No. 050283

ANNEXURE 1 TO THE INDEPENDENT AUDITORS' REPORT:

(Referred to in Paragraph 1 under section ‘Report on Other Legal and RegulatoryRequirements' of my report of even date)

1.1. The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

1.2. All the fixed assets have been physically verified by the management at reasonableintervals and no material discrepancies were noticed on such verification.

1.3. The Company does not have any immovable properties and as such paragraph

3(iii) of the Order is not applicable.

2. The Company is an investment company primarily dealing in shares/securities.Accordingly it does not hold any physical inventories. Thus paragraph 3(ii) of the Orderis not applicable.

3 As informed to me the company has not granted any loans secured or unsecured tocompanies firms and limited liability partnerships or other parties covered in theregister maintained under section 189 of the Companies Act 2013. Accordingly thesub-clauses (a) (b) and (c) are not applicable to the company.

4 In my opinion and according to the information and explanations given to me thereare no loans investments guarantees and security which are attracted by the provisionsof section 185 and 186 of the Companies Act 2013.

5 According to the information and explanations given to me the Company has notaccepted any deposits in terms of the directives issued by Reserve Bank of India and theprovisions of Sections 73 to 76 or any other relevant provisions of the Companies Act2013 and the rules framed there under.

6 As per the information and explanations given to me maintenance of Cost Records hasnot been specified by the Central Government under section 148 of the Companies Act2013.

7.1 According to the information and explanations given to me the Company is generallyregular in depositing undisputed statutory dues during the year wherever applicableincluding income tax sales tax service tax duty of customs duty of excise value addedtax cess and any other statutory dues with the appropriate authorities. According to theinformation and explanations given to me no undisputed amount is payable in respect ofincome tax or sales tax or wealth tax or service tax or duty of customs or duty of exciseor value added tax or cess and other Statutory dues which have remained outstanding as atMarch 31 2018 for a period of more than six months from the date they became payable.

7.2 According to the information and explanations given to me 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 on account of any dispute.

8. According to the information and explanations given to me there are no loans orborrowing from financial institutions bank government or dues to debenture holders.Thus paragraph 3(viii) of the Order is not applicable.

9. During the year under review the Company has not raised any money by way of initialpublic offer further public offer or term loans and hence the reporting requirement onthe purpose of application of the same is not warranted.

10. According to the information and explanations given to me and based upon the auditprocedures performed by me no fraud by the Company or on the Company committed by itsofficers or employees has been noticed or reported during the year.

11. According to the information and explanations given to me and based upon the auditprocedures performed by me the Company neither paid nor provided for any remunerationduring the year. Thus paragraph 3(xi) of the Order is not applicable.

12. As the Company is not a Nidhi Company in terms of the provisions of the CompaniesAct 2013 read with Nidhi Rules 2014 the matters to be reported under clause (xii) arenot applicable.

13. The Company has complied with the provisions of Section 177 and 188 of theCompanies Act. 2013 wherever applicable. In my opinion the details as required by theapplicable accounting standards have been disclosed in the financial statements for theyear under review.

14. According to the information and explanations given to me the Company has not madeany preferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review. Hence reporting requirement on compliance withSection 42 of the Companies Act 2013 and purpose of application of the funds so raised isnot applicable

15. According to the information and explanations given to me the Company has notentered into any non-cash transactions with directors or persons connected with him andhence reporting requirement on compliance with the provisions of Section 192 of theCompanies Act 2013 is not applicable.

16. According to the information and explanations given to me the Company has notobtained Certificate of Registration from Reserve Bank of India or its consent inaccordance with the provisions of Section 45 IA of the Reserve Bank of India Act 1934for carrying on the business of dealing in investment in shares and other securities.

For G NAGENDRASUNDARAM & CO
Chartered Accountants
FRN: 005355S
G. NAGENDRASUNDARAM
HYDERABAD Proprietor
May 30 2018 M.No. 050283