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White Hall Commercial Company Ltd.

BSE: 512431 Sector: Financials
NSE: N.A. ISIN Code: INE416X01012
BSE 05:30 | 01 Jan White Hall Commercial Company Ltd
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White Hall Commercial Company Ltd. (WHITEHALLCOMM) - Auditors Report

Company auditors report

To

The Members of Whitehall Commercial Company Limited

Report on the audit of Ihe Standalone Financial Statements

Opinion

We have audited the accompanying Standalone Ind AS financial statements WhitehallCommercial Company Limited ("the Company") which comprises the Balance Sheet asat March 31. 2021. the Statement of Profit and Loss and statement statement of changes inequity and cash flows for the year then ended and notes to the Standalone financialstatements including a summary of significant accounting policies and other explanatoryinformation.

i In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind 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 India of the state of affairs of theCompany as at March 31 2021 and pm fit/loss and its cash Hows for the year ended onthat 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 theStandalone Financial Statements section of our report. We are independent of the Companyin accordance 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 theStandalone financial statements under the provisions of the Companies Act. 2013 and theRules thereunder and we have fulfilled our other ethical responsibilities in accordancewith these requirements and the Code of Ethics.

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

Emphasis of Matter

On the background of outbreak of COYID -19 pandemic we wish to report that -

We could not visit the workplace of the auditee physically due to lockdown & travelrestrictions after the end of the year. However we have performed alternative auditprocedures to obtain sufficient appropriate audit evidence.

• On the basis of its assessment of the impact of the outbreak of COVID-19 onbusiness operations of the Company the Management has concluded that no adjustments arerequired in the financial statements as it does not impact the current financial year.However the situation with COVID-19 is still evolving. Also the various preventivemeasures taken (such as lockdown & travel restrictions etc.) are still in forceleading to a highly uncertain economic environment. Due to these circumstances themanagement's assessment of the impact on the subsequent period is dependent upon thecircumstances as they evolve.

Our opinion is not modified in respect of above matters.

Information other than the Standalone lnd AS financial statements and auditors' reportthereon

The Company's board of directors is responsible i'or the preparation of the otherinformation. The other information comprises the information included in the Board'sReport including Annexures to Board's Report Business Responsibility Report but does notinclude the Standalone hid AS financial statements and our auditor's report thereon.

Our opinion on the Standalone Ind AS financial statements does not cover the otherinformation and we do not express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Ind AS financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the standalone Ind AS financialstatements or our knowledge obtained during the course of our audit or otherwise appeal'sto be materially misstated.

If based on the work we have performed we conclude that there is a materialmisstatement of this other information we are required to report that fact. We havenothing to report in this i regard.

Management's Responsibility for the Standalone hid AS 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 standalone Ind AS financial statements that give a true and fair view of thefinancial position financial performance changes in equity and cash flows of the Companyin accordance with the accounting principles generally accepted in India including theaccounting Standards specified under section 133 of the Act. This responsibility alsoincludes maintenance of adequate

accounting records in accordance with the provisions oi‘the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate implementation and maintenance ofaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the Standalone Ind AS financialstatement that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the Standalone Ind AS financial statements management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the company's financialreporting process.

Auditor's Responsibility for the Audit of the Standalone Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone Ind ASfinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these Standalone bid AS financial statements.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of rite Standalone Ind ASFinancial statements whether due in fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.

• Obtain an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Under section 143(3)(i)of the Companies Act. 2013 we are not responsible for expressing our opinion on whetherthe company has adequate internal financial controls system in place and the operatingeffectiveness of such controls

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe Standalone Ind AS Financial statements or if such disclosures arc inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedale of our auditor's report.

• However future events or conditions may cause the Company to cease lo continuens a going concern.

• Evaluate the overall presentation structure and content of the Standalone IndAS financial statements including the disclosures and whether the Standalone Ind ASfinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

We communicate with those charged with governance regarding among other matters theplanned scope and liming of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards. From the matters communicated withthose charged with governance we determine those matters that were of most significancein the audit of the Standalone Ind AS financial statements of the current period and aretherefore the key audit matters. We describe these matters in our auditor's report unlesslaw or regulation precludes public disclosure about the matter or when >n extremelyrare circumstances we determine that a matter should not be communicated in our reportbecause the adverse consequences of doing so would reasonably be expected to outweigh thepublic interest benefits of such communication.

Other Matters

There is no such other matter which we need to he mention in our Audit Report.

Report on Other Legal and Regulatory Requirements:

I. Companies (Auditor's Report) Order 2016. issued by Central Government oflndia interms of sub section (11) of the Section 143 of the Companies Act 2013 we give inAnnexure a

2. statement on the matters specified in paragraph 3 & 4 of the Order to the extentpossible. (Annexure 1)

3. As required by Section 143(3) of the Act we report that:

We have sought and obtained all the information and explanations which to the best ofour knowledge and belief were necessary for the purposes of our audit.

a. We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for tile 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 Other ComprehensiveIncome) the Cash Flow Statement and Statement of changes in equity dealt with by thisReport are in agreement with the books of accounts.

d. In our opinion the aforesaid standalone Ind AS financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e. On the basis of the written representations received from the directors as on 31slMarch 2020 taken on record by the Doard of Directors none of the directors isdisqualified as

f. on 31sl March 2020 from being appointed as a director in terms of Section 164 (2) ofthe Act.

g. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effective ness of such controls refer to ourseparate Report in Annexure 2

h. 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:

• The Company does not have any pending litigations which would impact itsfinancial position.

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

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

For Maps Company Chartered Accountants FRN- I18913W

Manik A JLodh Partner

Membership No. - 10.3253 COIN: 21103253AAAAJ3B3737

Place : Pune
Date : 411 June 2021

AIMNEXURE TO INDEPENDENT AUDITORS' REPORT

on the Standalone jhul AS Financial Statements for the year ended 31s1 March 2021 Asper Companies (Auditor's Report) Order 2016 dt.29th March 2016.

Referred to in Paragraph 1 under the heading of "Report on other legal &regulatory requirements" of our report of even date.

Re: - Whitehall Commercial Company Limited for the F.Y. 2020-21

1. Fixed assets -

The Company does not have any fixed assets. As such our comments on the followingmatters are not attracted -

• The Company has maintained proper record showing full particulars includingquantitative details and situation of fixed assets.

• The management has a regular program of physical verification at the end of theyear has physically verified the fixed assets and we have been informed that no materialdiscrepancies were noticed on such verification as compared to book records.

• The title deeds of immovable properties of Company are held in the name of thecompany.

2. Inventory -

• The company does not have any stock of inventory and hence the question offrequency of verification does not arise.

• The company does not have any stock of inventory hence the question of propermaintenance of records does not arise.

3. Loans eranted-

Company has not granted any secured or unsecured ioans to Companies firms LimitedLiability partnerships or other parties listed in the register maintained u/s 189 ofCompanies Act 2013. Hence our comments on following matters are not attracted -

• Whether the terms and conditions of the grant of such loans are not prejudicialto the company's interest;

• Whether the schedule of repayment of principal and payment of interest has beenstipulated and

• Whether the repayments or receipts are regu ar:

• In case the amount is overdue the total amount overdue for more than ninetydays and

• Whether reasonable steps have been taken by the company for recovery of theprincipal and interest.

4. Loans. Investment. Guarantees & Security -

• Company has not granted any ioans or given guarantees - directly or indirectly -to Directors or any other person in whom Directors are interested in contravention ofSection 185 and section 186 of Companies Act 2013.

• Company has not granted any loan or given guarantee or made investment orprovided security in contravention of Section 186 of Companies Act 2013.

5. Denosits-

• The Company has not accepted any deposits. Hence our comments on compliance ofthe directives cf Reserve Bank of India provisions of Sec.73 to 76 or any other relevantprovisions of the Companies Act 2013 & the rules framed there under are not required.

• The nature of contravention - not applicable.

• No order has been passed by Company Law Board or National Company Law Tribunalor Reserve Bank of India or any court or 3ny other Tribunal requiring any compliance.

6. Cost records-

The Company is not required to maintain cost records pursuant to Section 148(1) of theCompanies Act 2013.

7. Statutory dues-

• According to the information & explanations given to us Company is regularin depositing undisputed statutory dues including Income-tax Goods & Service Taxcess and any other statutory dues with appropriate authority for year ended 31s' March2021.

• No such undisputed dues were outstanding as at the last day of financial yearfor a period of more than six months from due date.

• No such dues of Income tax Goods & Service Tax and Custom Duty wereoutstanding on account of any dispute pending with any forum.

8. Defaults in repavment-

Based on the records examined by us and according to the information and explanationsgiven to us the Company has not defaulted in repayment of dues to any financialinstitution or bank or Government or debenture holders as at the Balance Sheet date. Henceit is not necessary to report the period & amount of such default.

9. Utilization of funds-

• The Company has not raised funds by way of IPO or any Public offer (includingDebt instrument).

* The company has not raised funds by way of term loans.

10. Fraud-

• No fraud by the company or on the company by its officers or employees has beennoticed or reported during the year. Hence our comments on the nature of fraud and theamount involved are not required.

11. Managerial remuneration -

• The manager al remuneration has not been paid or provided during the year. Henceour comments regarding requisite approvals mandated by the previsions of section 197 readwith Schedule V to the Companies Act 2013 are not required.

12. Nidhi company -

• The Company is not a Nidhi Company & hence our comments related to NidhiCompany are not attracted.

13. Related party transactions -

• All transactions with the related parties are in compliance with sections 177and 188 of Companies Act 2013 where applicable and

• The details have been disclosed in the Financial Statements by the way of NoteNo.19 as per Ind AS-24.

14. Preferential allotment & private placement -

• The company has not made any private placement or preferential allotment ofshares or fully or partly convertible debentures during the year under review.

* Our comments on compliance with the provisions of section 42 of Companies Act 2013are not attracted.

• Our comments on the application of amount raised are not attracted.

15. Non-cash transactions with Directors -

• The company has not entered into any non-cash transactions with directors orpersons connected with him.

• Our comments on compliance with the provisions of section 19? of Companies Act2013 are not attracted.

16. Registration with RBI -

• Company is not required to be registered under section 45-IA of the Reserve Bankof India Act 1934 and hence the registration has not been obtained.

For Maps & Company Chartered Accountants
FRN - 118913W
Mamk A. Lodh
Partner

Membership No -103253

UDIN:  21103253AAAABB3737
Place:  Pune
Date: 4th June 2021

ANNEXIJRE 2

ANNEXIIRE TO THE INDEPENDENT AUDITOR'S REPORT

of Even Dale on Ihe standalone Ind AS Financial Statements of WHITEHALL C OMMERCIALCOMPANY LIMITED

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 of WhitehallCommercial Company Limited as of March 31. 2021 in conjunction with our audit of thestandalone Ind AS financial 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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on tlic 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 deemedto be prescribed under section 143(10) of the Companies Act 2013. to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls 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 included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgement including (he assessment of the risks of materialmisstatement ol'lhe standalone Tnd AS financial statements whether due to fraud or error.

We believe that (he 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

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 Ind AS financial statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies 1 and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of Ind ASfinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorisations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorised acquisition use. ordisposition of the company's assets that could have a material effect on the Ind ASfinancial 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 controls over financialreporting to future periods arc 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 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.

For Maps & Company
Chartered Accountants
FRN-1JL8913W
Manik A. Lodh
Partner
Membership No. - 103253
LIDIN : 21103253AA AAHB3737
Place : Pune
Date :4th June 2021

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