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Urja Global Ltd.

BSE: 526987 Sector: Others
NSE: URJA ISIN Code: INE550C01020
BSE 00:00 | 12 Aug 12.92 -0.01
(-0.08%)
OPEN

12.90

HIGH

13.05

LOW

12.81

NSE 00:00 | 12 Aug 12.90
(%)
OPEN

12.95

HIGH

13.05

LOW

12.80

OPEN 12.90
PREVIOUS CLOSE 12.93
VOLUME 197338
52-Week high 34.85
52-Week low 6.01
P/E 1292.00
Mkt Cap.(Rs cr) 679
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 12.90
CLOSE 12.93
VOLUME 197338
52-Week high 34.85
52-Week low 6.01
P/E 1292.00
Mkt Cap.(Rs cr) 679
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Urja Global Ltd. (URJA) - Auditors Report

Company auditors report

To the Members of URJA GLOBAL LIMITED

Report on the IND AS Financial Statements

We have audited the accompanying IND AS financial statements of URJA GLOBAL LIMITED

("the Company") which comprise the Balance Sheet as at March 31 2021 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of the 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 IND AS 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 Standards(INDAS) specified 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 of the assets of the Companyand for preventing and detecting 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 financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these IND AS financial statements basedon our audit. We 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 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of theIND ASfinancial 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 ASfinancial 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 financial statements.

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

Other Matters

The Company has not classified the balance sheet items as current/non-current in caseof the balance sheet items outstanding more than 12 months. The amount and balances inDebtors/Creditors/other parties and write off Rs. 9700000/- from the creditors accountare subject to confirmation from such parties.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid IND ASfinancial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2020and its profit/loss and its cash flows for the year ended on thatdate.

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

Companies Act 2013 we give in the ‘Annexure A' a statement on the mattersspecified in paragraphs 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 bythe Company so far as it appears from our examination of those books.

c) 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 financial statements 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 the written representations received from the directors as on 31stMarch 2021taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2021from being appointed as a director in terms of Section164 (2) of the Act.

f) 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. Thereis an Income Tax demand of Rs.368443/-for the A.Y 2006-07 for which company has optedVivad Se Vishwas Scheme and Rs. 10011781/- for the A.Y. 2012-13 plus interest as on 31stMarch 2021against which the company has filed an appeal with CIT(A) IX New Delhi. ii. Thecompany has income tax liability(unpaid)for a period from A.Y. 2011-12 to 2020-21aggregating amount ofRs.36100481/- other than interest on such liability. iii. There isdemand of TDS of Rs. 183889/- for F.Y. 2012-13 and Rs. 67750/- for F.Y. 2013-14 otherthan interest as on date. iv. There is a Sales Tax (DVAT) Demand of Rs. 5779007including Rs. 2168055 as an Interest for the F.Y. 2014-15 for which company has filed anappeal with Joint Commissioner Appellate. v. The Company did not have any long-termcontracts including derivative contracts for which there were any material foreseeablelosses. vi. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For ASHM & Associates
Chartered Accountants
Firm's Registration No. 005790C
Sd/-
Place: New Delhi
Date: 31st May 2021 Manoj Kumar Bajaj
Partner
M.No-091107
UDIN: 210911107AAAAAY3583

a. The company has not maintained proper records showing full particulars includingquantitative details and situation of its fixed assets. b. We could not find any Physicalverification report done by the management or third party. As explained to us theverification of fixed assets acquired including capitalization thereof would be reviewedsoon on updation of Fixed Assets Register by the management. ii. We could not find anyPhysical verification report done by the management or third party. Also there is noproper documentation like Gate Entry Gate Outward etc. for purchase or sale or storage ofgoods. iii. According to the information and explanations given to us and on the basis ofour examination of the books of account the Company has granted loans secured orunsecured to companies firms Limited Liability Partnerships or other parties orsubsidiaries company or to related parties we are unable to comment upon the complianceof provisions of clauses iii (a)(b) and (c) of the order; by the Company in the absenceof register as required to be maintained under Section 189 of the Companies Act 2013 .iv. In respect of loans investments guarantees and security in absence of registerinformation and record we are unable to comment upon the compliance of provisions ofsection 185 and 186 of the Companies Act 2013. v. The company has not accepted anydeposits from the public covered under sections 73 to 76 of the Companies Act 2013. vi.As per information & explanation given by the management maintenance of cost recordshas not been specified by the Central Government under sub-section (1) of section 148ofthe Companies Act 2013. vii. According to the records of the company undisputedstatutory dues including Provident Fund Investor Education and Protection FundEmployees' State Insurance Sales-tax Service Tax Custom Duty Excise Duty valueadded taxcess and any other statutory dues to the extent applicable have generally beenregularly deposited with the appropriate authorities. According to the information andexplanations given to us the company has income tax liability(unpaid)for a period fromA.Y. 2011-12 to 2020-21 aggregating amount of Rs.36100481/- other than interest on suchliability.

According to the information and explanations given to us there is no amount payablein respect of service tax customs duty excise duty value added tax and cess whicheverapplicable which have not been deposited on account of any disputes except the Income Taxdemand of Rs. 368443/- for the A.Y 2006-07 for which company has opted Vivad Se VishwasScheme and Rs. 10011781/- for the A.Y. 2012-13 plus interest as on 31stMarch 2021 against which the company has filed an appeal with CIT(A) IX New Delhi. AlsoThere is demand of TDS of Rs. 183889/- for F.Y. 2012-13 and Rs. 67750/- for F.Y.2013-14 and as explained to us the company has preferred an appeal. And there is a SalesTax (DVAT) Demand of Rs. 5779007 including Rs. 2168055 as an Interest for the F.Y.2014-15 for which company has filed an appeal with Joint Commissioner Appellate (DVAT).

viii. In our opinion and according to the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank Government or debenture holders as applicable to thecompany. ix. Based on our audit procedures and according to the information given by themanagement the company has issued 500 Lakhs Equity Shares of face value of Rs. 1/-each ata price of Rs. 5/- per Equity Share (Including a premium of Rs. 4/- per Equity Share)as aRight Issue for an aggregating amount up to Rs. 2500 Lakhs. On a Right basis to theeligible Equity Shareholders of Urja Global Limited (The Company or The Issuer) in theratio of 7 Right Equity Shares for every 71 fully paid up Equity Shares held by sucheligible Equity Shareholders on the record date i.e. on January 15 2021 ( The Issue). ThePayment schedule under which 25% of the Issue Price is payable on Application i.e. Rs.1.25 per Right Equity Share and the balance unpaid capital constituting 75% of the IssuePrice i.e. Rs. 3.75 will have to be paid by the shareholders on one or more subsequentcall(s)as determined by the Board at its sole discretion from time to time. The RightIssue offer was opened on 25th January 2021 and closed on 10thFebruary 2021. The company has Received On Application Rs. 6.25 crore as on 31.03.2021including Rs. 16164418.75/- has been adjusted against the outstanding Loan of thePromoter Shareholders in accordance with the terms of the Letter of Offer as filed withthe SEBI.

x. According to the information and explanations given to us we report that no fraudby the company or any fraud on the Company by its officers or employees has been noticedor reported during the year. xi. According to the information and explanations given touswe report that managerial remuneration has been paid in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the CompaniesAct. xii. The company is not a Nidhi Company. Therefore clause xii of the order is notapplicable to the company. xiii. According to the information and explanations given tous all transactions with the related parties are in compliance with sections 177 and 188of Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards. xiv. Thecompany has not made any preferential allotment or private placement of shares or fully orpartly convertible debentures during the year under review. xv. The company has notentered into non-cash transactions with directors or persons connected with him. xvi. Thecompany is not required to be registered under section 45-IA of the Reserve Bank of IndiaAct 1934.

For ASHM & Associates
Chartered Accountants
Firm's Registration No. 005790C
Sd/-
Manoj Kumar Bajaj
Place: New Delhi Partner
Date:31st May 2021 M.No-091107
UDIN: 210911107AAAAAY3583

.