98 / 236
96
year ended 31 March 2016 and the transition date opening
balance sheet as at 1 April 2015 included in these Standalone
Ind AS financial statements, are based on the previously issued
statutory financial statements prepared in accordance with the
Companies (Accounting Standards) Rules, 2006 audited by us,
whose audit report for the year ended 31 March 2016 & 31
March 2015 dated 28 April 2016 & 29 April 2015 respectively
expressed an unmodified opinion on those Standalone financial
statements, as adjusted for the differences in the accounting
principles adopted by the Company on transition to the Ind AS,
which have been audited by us.
Our opinion is not modified in respect of above matter:
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 in
terms of Section 143(11) of the Act, and on the basis of
such checks of the books and records of the Company as we
considered appropriate and according to the information
and explanations given to us, we give in “Annexure I” a
statement on the matters specified in paragraphs 3 and 4
of the said Order.
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 best of 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 the Company so far as it
appears from our examination of those books.
(c) The Balance Sheet, the Statement of Profit and Loss
(including the Other Comprehensive Income), the
Cash Flow Statement and the Statement of Changes in
Equity dealt with by this Report are in agreement with
the books of account.
(d) In our opinion, the aforesaid Standalone Ind
AS financial statements comply with the Indian
Accounting Standards prescribed under Section 133 of
the Act read with the Companies (Indian Accounting
Standards) Rules, 2015 as amended.
(e) On the basis of the written representations received
from the directors as on 31st March, 2017 taken on
record by the Board of Directors, none of the directors
is disqualified as on 31st March, 2017 from being
appointed as a director in terms of Section 164 (2) of
the Act.
(f) We are enclosing herewith a report in Annexure II for
our opinion on adequacy of internal financial controls
system in place in the company and the operating
effectiveness of such controls.
(g) With respect to the other matters to be included in
the Auditor’s Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, in
our opinion and to the best of our information and
according to the explanations given to us:
i. The Company has disclosed the impact of pending
litigations on its financial position in its Standalone
Ind AS financial statements. Refer Note 34 to the
financial statements.
ii. According to the information and explanations
provided to us, the Company did not have any
long-term contracts including derivative contracts
for which there were any material foreseeable
losses.
iii. There has been no delay in transferring amounts,
required to be transferred during the year, to the
Investor Education and Protection Fund by the
Company.
iv. The Company has provided requisite disclosures
in Note no.10 of its financial statements as to
holdings as well as dealings in Specified Bank
Notes (SBN) during the period from 8 November
2016 to 30 December 2016. Based on the audit
procedures and relying on the management
representation, we report that the disclosures are
in accordance with the books of accounts and
records maintained by the Company.
For
O. P. Bagla & Co.
Chartered Accountants
Firm Regn No. 000018N
(Atul Bagla)
Place : New Delhi
Partner
Dated : 15 May, 2017
Membership No. 91885