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Winro Commercial (India) Ltd.

BSE: 512022 Sector: Financials
NSE: N.A. ISIN Code: INE837E01019
BSE 00:00 | 08 Mar Winro Commercial (India) Ltd
NSE 05:30 | 01 Jan Winro Commercial (India) Ltd
OPEN 244.45
PREVIOUS CLOSE 244.45
VOLUME 5
52-Week high 244.45
52-Week low 244.45
P/E 0.60
Mkt Cap.(Rs cr) 31
Buy Price 244.45
Buy Qty 1520.00
Sell Price 0.00
Sell Qty 0.00
OPEN 244.45
CLOSE 244.45
VOLUME 5
52-Week high 244.45
52-Week low 244.45
P/E 0.60
Mkt Cap.(Rs cr) 31
Buy Price 244.45
Buy Qty 1520.00
Sell Price 0.00
Sell Qty 0.00

Winro Commercial (India) Ltd. (WINROCOMMERCIAL) - Auditors Report

Company auditors report

to tHe memBerS oF

winro CommerCial (india) limited

report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of winro CommerCial(india) limited which comprise the Balance Sheet as at 31st March 2018the Statement of Profit and Loss Cash Flow Statement for the year ended and a summary ofsignificant accounting policies and other explanatory information. management'sresponsibility 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 with respect to the preparation of these standalonefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards referred under Section 133of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibilityalso includes the maintenance of adequate records in accordance with the provision of theAct for safeguarding of the assets of the Company and for preventing and detecting thefrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of internal financial control that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the standalone financial statements that give atrue and fair view and are free from material misstatement whether due to fraud or error.auditor's responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

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 accordancewith the Standards on Auditing specified under section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the standalone financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thestandalone 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 true and fair view in orderto design audit procedures that are appropriate in the evaluating circumstances. An auditalso includes the appropriateness of accounting policies used and the reasonableness ofthe accounting estimates made by Company's Directors as well as evaluating the overallpresentation of the standalone financial statements.

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

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the 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 ofthe state of affairs of the Company as at 31st March 2018 b) In the case ofthe Statement of Profit and Loss of the profit' ‘ for the year ended on thatdate; and c) In the case of the Cash Flow Statement of the cash flows for the year endedon 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 ofthe Act we give in the Annexure ‘A' a statement on the matters specified in theparagraph 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 by theCompany so far as appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid standalone 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 written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director interms of Section 164(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 overseparate report in ‘ Annexure B'; and

g) With respect to the other matters included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to ourbest of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its standalone financial statements Refer Note. 22.1 to the standalonefinancial statements.

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 required to be transferred to the Investor Education andProtection Fund by the Company.

For aJay SHoBHa & Co.
Firm regiStration no.317031e
CHartered aCCountantS
Sd/-
aJay gupta
place : mumbai partner
date: 28thmay 2018 memBerSHip no. 053071

anneXure 'a' to tHe independent auditorS' report

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the standalone financial statements for the year ended 31stMarch2018 we report that:

1. (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of Fixed Assets.

(b) As per the information and explanations given to us physical verification of fixedassets has been carried out once during the year and no material discrepancies werenoticed on such verification. In our opinion the frequency of verification is reasonablehaving regard to the size of the company and nature of its business.

(c) The title deeds of immovable properties are held in the name of the company.

2. The Inventory consists of equity shares and mutual fund units held in dematerializedform Mutual Fund Statement and physical certificates. The Company verifies the balancesin Depository Participant Account Mutual Fund statements and physical certificates withBooks at regular interval. In our opinion the frequency of verification is reasonable. Onthe basis of our examination of inventory records in our opinion the company ismaintaining proper records of inventory and there is no material discrepancies noticed.

3. The Company has granted unsecured loans to companies covered in the Registermaintained under section 189 of the Act.

a) According to the information and explanations given to us and based on the auditprocedures conducted by us we are of the opinion that the terms and conditions of theaforesaid loans granted by the Company were not prejudicial to the interest of theCompany. b) In respect of the aforesaid loans the receipts of principal and interest wereregular. c) In respect of the aforesaid loans no overdue amount of loans granted tocompanies listed in the register maintained under Sec on 189 of the Act.

4. In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of section 185 and 186 of the Companies Act 2013in respect of loans investments guarantees and security.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public and hence the directives issued bythe Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevantprovisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 with regard tothe deposits accepted from the public are not applicable.

6. As informed to us the maintenance of Cost Records has not been specified by theCentral Government under sub-section (1) of Section 148 of the Act in respect of theactivities carried on by the company.

7. (a) According to the and explanations given to us and the records examined by usthe company is regular in depositing with appropriate authorities undisputed statutorydues including provident fund employees state insurance income-tax sales-tax servicetax goods and service tax duty of customs duty excise value added tax cess and otherstatutory dues wherever applicable.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of income tax sales tax wealth tax service tax goods and servicetax custom duty excise duty cess were in arrears as at 31st March 2018 for aperiod of more than six months from the date they became payable.

8. On the basis of our examination and according to the information and explanationgiven to us the company has not borrowed any loans from financial institutions anddebenture holders.

9. Based upon the audit procedures performed and the information and explanations givenby the management the company has not raised moneys by way of initial public offer orfurther public offer including debt instruments and term Loans. Accordingly the provisionof clause (ix) of paragraph 3 of the Order is not applicable to the Company and hence notcommented upon.

10. Based upon the audit procedures performed and the information and explanationsgiven by the management we report that no fraud by the Company or on the company by itsofficers or employees has been noticed or reported during the year.

11. As per information and explanations given by the management Company has compliedthe provisions of section 197 of Companies Act 2013.

12. In our opinion the Company is not a Nidhi Company. Therefore the provision ofclause (xii) of paragraph 3 of the Order is not applicable to the Company.

13. In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 and the details have been disclosed in thestandalone Financial Statements as required by the applicable accounting standards.

14. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provision of clause (xiv) of paragraph 3 of the Order is notapplicable to the Company and hence not commented upon.

15. Based upon the audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provision of clause (xv) ofparagraph 3 of the Order is not applicable to the Company and hence not commented upon.

16. The company is required to be registered under section 45 IA of the Reserve Bank ofIndia Act 1934 and has obtained registration vide registration no. B-13.01873 dated 6thJuly 2007.

For aJay SHoBHa & Co.
Firm regiStration no.317031e
CHartered aCCountantS
Sd/-
aJay gupta
place : mumbai partner
date: 28thmay 2018 memBerSHip no. 053071

ANNEXURE "B" TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THEFINANCIAL STATEMENTS OF WINRO COMMERCIAL (INDIA) LIMITED

report on the internal Financial Controls under Clause (i) of Sub-section 3ofSection143 of theact 2013 ("the act")

We have audited the internal financial controls over financial reporting of WINROCOMMERCIAL (INDIA) LIMITED. ("The Company") as of 31ST March 2018 inconjunction with our audit of the standalone financial statements of the Company for theyear 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 responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired 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") and the Standards on Auditing prescribed under section143(10) of the Companies Act 2013 to the extent applicable to an audit of internalfinancial controls both applicable to an audit of Internal Financial Controls and bothissued by the Institute of Chartered Accountants of India. Those Standards and theGuidance Note 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 judgement 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

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of reporting and the preparationof financial statements for external purposes in accordance with generally acceptedaccounting principles. A company's internal financial control over financial reportingincludes those policies and procedures that (1) pertain to the maintenance of recordsthat in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements. inherentlimitations ofinternal 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 31st March 2018 based on"the internal control over financial repo rting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India".

For aJay SHoBHa & Co.
Firm regiStration no.317031e
CHartered aCCountantS
Sd/-
aJay gupta
place : mumbai partner
date: 28thmay 2018 memBerSHip no. 053071