You are here » Home » Companies » Company Overview » Zota Health Care Ltd

Zota Health Care Ltd.

BSE: 538426 Sector: Health care
NSE: ZOTA ISIN Code: INE358U01012
BSE 05:30 | 01 Jan Zota Health Care Ltd
NSE 00:00 | 27 Sep 384.65 5.00
(1.32%)
OPEN

385.00

HIGH

397.85

LOW

380.00

OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Zota Health Care Ltd. (ZOTA) - Auditors Report

Company auditors report

TO THE MEMBERS OF ZOTA HEALTH CARE LIMITED

REPORT ON THE AUDIT OF THE STANDALONE FINANCIAL STATEMENTS

I have audited the accompanying Ind AS financial statements of ZOTA HEALTH CARE LIMITED(the "company") which comprise the Balance Sheet as at March 312020 theStatement of Profit and Loss (including Other Comprehensive Income) the Statement ofChanges in Equity and the Cash Flows for the year ended on that date and a summary of thesignificant accounting policies and other explanatory information (hereinafter referred toas the “standalone financial statements”).

In my opinion and to the best of my information and according to the explanations givento me the aforesaid standalone financial statements give the information required by theCompanies Act 2013 (“the Act”) in the manner so required and give a true andfair view in conformity with the Indian Accounting Standards prescribed under section 133of the Act read with the Companies (Indian Accounting Standards) Rules 2015 as amended(“Ind AS”) and other accounting principles generally accepted in India of thestate of affairs of the Company as at March 312020 the profit and total comprehensiveincome changes in equity and its cash flows for the year ended on that date.

BASIS FOR OPINION

I conducted my audit of the Standalone Financial Statements in accordance with theStandards on Auditing (SAs) specified under section 143(10) of the Companies Act 2013. Myresponsibilities under those Standards are further described in the Auditor'sResponsibilities for the Audit of the Standalone Financial Statements section of myreport. I am independent of the Company in accordance with the Code of Ethics issued bythe Institute of Chartered Accountants of India (ICAI) together with the independencerequirements that are relevant to my audit of the standalone financial statements underthe provisions of the Act and the Rules made thereunder and I have fulfilled my otherethical responsibilities in accordance with these requirements and the ICAI's Code ofEthics. I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion on the standalone financial statements.

KEY AUDIT MATTERS

I have determined that there are no key audit matters to communicate in my report.

INFORMATION OTHER THAN THE STANDALONE FINANCIAL STATEMENTS AND AUDITOR'S REPORT THEREON

"The Company's Board of Directors is responsible for the preparation of the otherinformation. The other information comprises the information included in the ManagementDiscussion and Analysis Board's Report including Annexures to Board's Report BusinessResponsibility Report Corporate Governance and Shareholder's Information but does notinclude the standalone financial statements and my auditor's report thereon.

My opinion on the standalone financial statements does not cover the other informationand I do not express any form of assurance conclusion thereon.

In connection with my audit of the standalone financial statements my responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the standalone financial statements or my knowledgeobtained during the course of my audit or otherwise appears to be materially misstated.

If based on the work I have performed I conclude that there is a materialmisstatement of this other information I am required to report that fact. I have nothingto report in this regard."

MANAGEMENT'S RESPONSIBILITY FOR THE STANDALONE FINANCIAL STATEMENTS

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance totalcomprehensive income changes in equity and cash flows of the Company in accordance withthe Ind AS and other accounting principles generally accepted in India. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting 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 financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the standalone 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.

The Board of Directors are responsible for overseeing the Company's financial reportingprocess.

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

My objectives are to obtain reasonable assurance about whether the standalone financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes my opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these standalone financial statements.

As part of an audit in accordance with SAs I exercise professional judgment andmaintain professional skepticism throughout the audit.

I also:

- Identify and assess the risks of material misstatement of the standalone financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for my opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

- Obtain an understanding of internal financial controls relevant to the audit in orderto design audit procedures that are appropriate in the circumstances. Under section143(3)(i) of the Act I am also responsible for expressing my opinion on whether theCompany has adequate internal financial controls system in place and the operatingeffectiveness of such controls.

- Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by management.

- Conclude on the appropriateness of management's use of the going concern basis ofaccounting 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 I conclude that a material uncertainty existsI am required to draw attention in my auditor's report to the related disclosures in thestandalone financial statements or if such disclosures are inadequate

to modify my opinion. My conclusions are based on the audit evidence obtained up to thedate of my auditor's report. However future events or conditions may cause the Company tocease to continue as a going concern.

- Evaluate the overall presentation structure and content of the standalone financialstatements including the disclosures and whether the standalone financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

Materiality is the magnitude of misstatements in the standalone financial statementsthat individually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the financial statements may be influenced. I considerquantitative materiality and qualitative factors in (i) planning the scope of my auditwork and in evaluating the results of my work; and (ii) to evaluate the effect of anyidentified misstatements in the financial statements.

I communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that I identify during my audit.

I also provide those charged with governance with a statement that I have complied withrelevant ethical requirements regarding independence and to communicate with them allrelationships and other matters that may reasonably be thought to bear on my independenceand where applicable related safeguards.

From the matters communicated with those charged with governance

I determine those matters that were of most significance in the audit of the standalonefinancial statements of the current period and are therefore the key audit matters. Idescribe these matters in my auditor's report unless law or regulation precludes publicdisclosure about the matter or when in extremely rare circumstances I determine that amatter should not be communicated in my report because the adverse consequences of doingso would reasonably be expected to outweigh the public interest benefits of suchcommunication.”

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS:

1 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 accounts as required by Law have been kept by thecompany so far as it appears from my examination of the books;

c The Balance Sheet the Statement of Profit and Loss (including other comprehensiveincome) the Cash Flow Statement and the Statement of Changes in Equity dealt with by thisreport are in agreement with the books of account.

d In my opinion the aforesaid standalone financial statements comply with the Ind ASspecified 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 March312020 taken on record by the Board of Directors none of the directors is disqualifiedas on March 312020 from being appointed as a director in terms of Section 164(2) of theAct.

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 myseparate Report in ”Annexure A”.

g With respect to the other matters to be included in the Auditor's Report inaccordance with the requirements of section 197(16) of the Act as amended:

In my opinion and to the best of my information and according to the explanations givento us the remuneration paid by the Company to its directors during the year is inaccordance with the provisions of section 197 read with Schedule V to the Act.

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 as amended inmy opinion and to the best of my knowledge and belief and according to the information andexplanations given to me:

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

(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 which required to be transferred to the Investor Educationand Protection Fund by the Company

2 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 (the"Order”) and according to the information and explanations given to me Ienclose in the ”Annexure B” a statement on the matters specified in paragraphs 3and 4 of the Order to the extent applicable

For Shivangi Parekh & Co.
Chartered Accountants
Date: 23/06/2020 Sd/-
Place: Surat CA Shivangi Mehta
Proprietor M. No. 118936
UDIN:20118936AAAAAV6569

ANNEXURE “A”

TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal and RegulatoryRequirements' section of my report to the Members of Zota Health Care Limited)

REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (I) OF SUB-SECTION 3 OF SECTION143 OF THE COMPANIES ACT 2013 (“THE ACT”)

I have audited the internal financial controls over financial reporting of ZOTA HEALTHCARE LIMITED (“the Company”) as of 31st March 2020 in conjunction with my auditof the standalone financial statements of the Company for the year ended on that date.

MANAGEMENT'S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Board of Directors of the Company is responsible for establishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria 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 (‘ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

AUDITORS' RESPONSIBILITY

My responsibility is to express an opinion on the Company's internal financial controlsover financial reporting based on my audit. I conducted my audit in accordance with theGuidance Note on Audit of Internal Financial Controls over Financial Reporting (the“Guidance Note”) and the Standards on Auditing issued by ICAI and deemed to beprescribed under section 143(10) of the Companies Act 2013 to the extent applicable toan audit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that I comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

My audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. My 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 judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my 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 financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on the condensed financial 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 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 my 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 2020 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For Shivangi Parekh & Co.
Chartered Accountants
Sd/-
CA Shivangi Mehta
Proprietor
Date: 23/06/2020 M. No. 118936
Place: Surat UDIN:20118936AAAAAV6569

ANNEXURE “B”

TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal and RegulatoryRequirements' section of my Report to the Members of Zota Health Care Limited of evendate)

As required by the Companies (Auditor's Report) Order 2016 and according to theihforfiation and explanations given to me during the course of audit and on the basis ofsuch checks as were considercd appropriate I report that:

(i) In respect of the Company's fixed assets :

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

b According to the information and explanations given to me the fixed assets have beenphysically verified by the management during the period at reasonable intervals. Asexplained to me no material discrepancies were noticed as compared to the books recordson such physical verification.

c According to the information and explanations given to me all the immovableproperties are in the name of the company.

(ii) As explained to me inventory of the Company has been physically verified duringthe period by the management at regular intervals. No material discrepancies were noticedas compared to the books records on such physical verification.

(iii) As per the information and explantions given to me the company has not grantedany loans secured or unsecured to companies firms or other parties covered by clamee(76) of Section 2 of the Companies Act 2013. Accordingly reporting under clamee 3 (iii)of the Order is not applicable to the Company.

(iv) In my opinion and according to the information and explanations given to me theCompany has complied with the provisions of Sections 185 and 186 of the Act in respect ofgrant of loans making investments and providing guarantees and securities as applicable.

(v) According to the information and explanations given to me the Company has notaccepted deposits from the public and the other security deposits accepted are notconsidered as deposits as per section 73 to 76. Therefore the provisions of the clamee3(v) of the Order are not applicable to the Company.

(vi) According to the information & explanation given to me cost records have beenmaintained by the company as prescribed under sub section (1) of section 148 of theCompanies Act 2013.

(vii) According to the information and explanations given to me in respect ofstatutory dues :

a According to the information and explanations given to me and according to therecords the Company has generally been regular in depositing undisputed statutory dueswith appropriate authorities during the year.

b There were no undisputed amounts payable in respect of Provident Fund Employees'State Insurance Income Tax Goods and Service Tax Customs Duty Cess and other materialstatutory dues in arrears as at March 312020 for a period of more than six months fromthe date they became payable.

c According to the information and explanations given to me and the statutoryexamination of the records there are no disputed dues which have not been deposited onaccount of Disputed matters pending before the appellate authorities.

(viii) The Company has not taken any loans or borrowings from financial institutionsbanks and government or has not issued any debentures. Hence reporting under clause3(viii) of the Order is not applicable to the Company.

(ix) The Company has not raised moneys by way of initial public offer or further publicoffer (including debt instruments) or term loans and hence reporting under clause 3(ix) ofthe Order is not applicable to the Company.

(x) To the best of my knowledge and according to the information and explanations givento me no fraud by the Company or no material fraud on the Company by its officers oremployees has been noticed or reported during the year.

(xi) In my opinion and according to the information and explanations given to me theCompany has paid / provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Act.

(xii) The Company is not a Nidhi Company and hence reporting under clause 3(xii) of theOrder is not applicable to the Company.

(xiii) In my opinion and according to the information and explanations given to me theCompany is in compliance with Section 177 and 188 of the Companies Act 2013 whereapplicable for all transactions with the related parties and the details of related partytransactions have been disclosed in the standalone financial statements as required by theapplicable accounting standards.

(xiv) During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly paid convertible debentures and hence reportingunder clause 3(xiv) of the Order is not applicable to the Company.

(xv) In my opinion and according to the information and explanations given to meduring the year the Company has not entered into any non-cash transactions with itsDirectors or persons connected to its directors and hence provisions of section 192 of theCompanies Act 2013 are not applicable to the Company.

(xvi) The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For Shivangi Parekh & Co.
Chartered Accountants
Sd/-
CA Shivangi Mehta
Proprietor
Date: 23/06/2020 M. No. 118936
Place: Surat UDIN:20118936AAAAAV6569

.