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    Auditors Report 2020-2021

    Uploaded by

    Saurabh Chaudhary

    Copyright:

    © All Rights Reserved
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    of 24
    ‘To be printed on the letter head of the Company To, ‘The members of the Company; Board of Directors; and Statutory Auditors, nN’ Ui Ru Irotng peerety sven that the Twentieth Annual General Meeting AGW’) of the members of Axis ae oto vate Limited for the financial year 2020-21 will be held on Thursday, Nove noe 18, 2021, Mover ius at the Registered Office of the Company situated at 19¢/16'8 ona Floor, Ramesh Market, East of Kallash, New Delhi- 140065, India to trensact the following business Statement for the financial year ended March the ‘ofthe of Directors and Auditors thereon pase wangert: the members of the Company are requested to consider end, if thought fit, to pass with or without modification/s, if any, the following resolution as sm Ordinary Resolution: SRESOLVED THAT the audited financial statements of the Company including the Balance Fence anon March 31, 2021, Statement of Profit and Loss and Cash Flow Statement for tre Freres pal, 2020 to March 31, 2021 and the Directors’ Report and the auditer’s Rene thereon, be and are hereby received and adopted by the members of the Company. 2, Any other business with the permission of Chairman, By Order of the Board of Directors of Axis Infoline PI ‘Sankalp 3ain Di DIN: 02634568 R/o House No.F-20,1* Floor, Sector-40, Noida-201301, Gautam Buddha Nagar, Uttar Pradesh, India Date: October 23, 2021 Place: New Delhi, India NOTES Fate tae ittied to attend and vote at the meeting is enttied to appoint a proxy to attend and rats instead of himself and the proxy need not be a member. The proxy torn duly completed cppulited rer ceaistered office of the Company not later than forty-elght hours before me time appointed for holding the meeting. The Register of Directors and Key Managerial Personne! and their shareholding and Register of Sontracts or arrangements in which the Directors are interested, maintained ace cea 170 Me ae? oF the Companies Act, 2013 respectively, will be avaliable for Wenecoes by the Members at the ensuing AGM. 4 Ai documents referred to in the Notice shall be open for inspection at the registered office of the Taanpany situated at 196/16-8 2nd Floor, Ramesh Market, East of Kallas, Wew Dein 110065, {ndia, on all working days, between 11.00 AM to 01.00 P.M, upto the date of the Acer 5. Members desirous of obtaining any information or clarification concerning the Annual Accounts er cperations of the Company are requested to address their questions to the Company's (martered office, so as to reach at least 12 (Twelve) hours before the date of the meeting so brat Sreuttormation/ documents (For inspection) may be made available at the mectiee eek best of extent possible. &fhe Members are requested to notify immediately change of address (including e-mail address), if any, to Compeny’s registered office. 7 The route map of the venue for the annual general meeting forms part of this netice. By Order of the Board of Directors of Axis Infoline Private Limited, or Axis Infoline Pye ad, Director Sankalp| Director} DIN: 02634568 R/o House No.F-20,1* Floor, Sector-40, Noida-201301, Gautam Buddha Nagar, Uttar Pradesh, India Date: October 23, 2021 Place: New Delhi, India ROUTE MAP TO THE VENUE OF THE TWENTIETH ANNUAL GENERAL MEETING 196/16-B 2nd Floor, Ramesh Market, East of Kallash New Darn 110065, India "OF Axia Infoling Pvt, «0 pep TDR or Axis Infoline Pvt, «10 bee RRSA & CO. CHARTERED ACCOUNTANTS INDEPENDENT AUDITOR'S REPORT fo the Members of M/s Axis Infoline Private Limited Report on the Audit of the Financial Statements 1. Opinion We have audited the financial statements of Axis Infoline Private Limited (“the Company”), which comprise the Balance Sheet as at 31st March 2021, the Statement of Profit and Loss, the Statement of Cash flows and notes to the financial statements, incluclinga summary of Significant Aceounting, policies and other explanatory information. {In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 ("the Act”) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2021, and its PROFIT for the year oncled on that cate. 2. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (5As) specitied under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Autit of the Financial Statements section of out report, We are independent of the Company in accordance with the Cali of Ethics issued by the Institute vf Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the finan auts under the provisions of the Companies Act, 2073 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics, We betieve that the audit ovi staten ence we have obtained is sulficient and appropriate to provide a basis for our opinion, 5. Information other than the financial statements and Auditor's Report thereon: The Company's Board of Directors is responsible for the preparation of the other information. ‘The other information comprises the information included in the Board’s Report inclucting its Annexure, but cioes not include the financial statements and our auditor's report thereon. Our Opinion on the financial statements docs not cover other information and we do not express any form of assurance conchusion thereon. In connection with our audit of the financial statement, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If based on the work we have performed, we conclude that there is the material misstatement of this other information; we are roport that fact. We have nothing to report in this regard, E-261, First Floor, Amar Colony, Lajpat Nagar IV, New Delhi-110024 Ph. 011-26215169, E-mail: rrco89@yahoo.com 4. Responsibility of Management for Financial Statements The Company's Board of Directors is responsible for the matiers stated in Section 134(5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Company in accordance with the accounting, principles generally accepted in India, including the accounting, Standards specified uncer Section 133 of the Act, This responsibility also includes maintenance of aclequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preven selection and application oF appropriate implementation and maintenance of accounting, policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating, effectively for ensuring the accuracy and completeness of the accounting, records, relevant to the preparation and presentation of the financial statement that give a true and fair view and ing, ancl detecting frauds and other irregularities; are free from material misstatement, whether due te fraud or error. In preparing the financial statements, management is responsible for assessing. the Company's ability to continue asa going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless management either intends to liquidate the Company or to cease operations, or has ao realistic alternative but to dose. Those Koard of Directors are also responsible for averseeing the company’s financial reporting process. 5. Auditor's Responsibilities for the Audit of the Financial Statements ‘Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audlit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stasements, AAs part of an audit in accordance with SAs, Wwe esereise professional judgment and maintain professional skepticism throughout the audit. We also: of material ynisstatement of the financial statements, i, Identify and assess the i whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting froin fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ii, Obtain an understanding of internal control relevant to the audit in order to design procedures that are appropriate in the cireumstances, but not for the purpose of au ‘expressing on the effectiveness of the company” internal financial control. iii, Evaluate the appropriateness of accounting, policies used and the reasonableness of accounting estimates and related disclosures made by managem iv, Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signilicant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw atiention in our auditor's report to the related disclosures in the finaicial statements or, if such disclosures are inadequate, to modify our opinion, Our conclusions are based on the audit evidence obtained up to the date of our auditor's report, However, future events or conditions may cause the Company to cease to contin ; ¥. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements: represent U 1e awa going cones underlying transactions and events in.a manner that achieves fair presentation, Materiality is the magnitude of misstatements in the financial statement thal, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in () planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial statement We commu icate with those charged with governance regarding, among other matters, the Planned scope and timing of the audit and significant audit findings, including. any ignificant deficiencies in internal control that we ilentily during, our audit, We also provide those charged with govemance with a statement that we have complied with relevant ethical requirements regarding independence, and to-communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards, 6. 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 of the Act, We give in “Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. IL. As required hy Section 197(16) of the Act, we report that the company being a private limited company, section 197 on payment of remuneration to its directors is not applicable to the company, Jil. 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 ind belic# were necessary for the purposes of our audit of our knowledge b) In our opinion, proper books of account as required by law haye been kept by the Company so far as it appears from our examination of those books. ©) The Balance Shect and the statement of Profit and Loss dealt with by this Report aee in agreement with the books of account. d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, ©) On the basis of the written representations received from the directors as on 1st March, 2021 and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2021 from being appointed as a director in terms of Section 164 (2) of the Act. 1) The para relating to adequacy of the internal financial controls is not applicable to the company as turnover/borrawings are loss than the limits specified in MCA notification dated 13.06.2017. &) With respect to the other matters to be included in the Auditor's Reportin 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 does not have any pending litigations which would impact as at 31st March 2021 on its financial position as at 31 march 2021. ‘The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses, fii, There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company, FOR RRSA & Co. Chartered Accountants Regd. No. 023539N wah, JK Aggarwal Partner UDIN-21091405AAAADX8454 Place of Signature: New Delhi Date: 23.10.2021 4! TO THE INDEPENDENT AUDITOR'S REPORT ent Auditors! Report to the members of the Company on the gy March, 2021, we report that: propet records showing full particulars, Inchidirg quanttetive : fave been physical verified by the management accordance i tion, which in our opinion is reasonable, considering the size of nd tie of es esses. The equerey ‘of physical verification 5 reasonable and 10) is es were noticed nn such verification. sions give to ox, none of the ltmaveble prepa Accordingly provision ‘of clause 1c) of the order Is not am pysicaly vii bythe management i Mg the year ju ification is reasonable. The discrepancies noticed on verification reat book records, whion were rot moteria, Nave been properly deal to's and on the besis of our examination of ie fot granted any ‘ans, secured OF unsecured’ to the sre reginter maintained under section 189 0 #Re A 5 3{ii)(a) to (c) of the Order are ‘not applicable to the Company ‘and hence not co tn our opinion and according te the {information andi explanations Bien to us, the Company has complied with the provisions of Sections. 185 nel 186 of the Cernpanies Act. 2013 in respect OF Joans, investments, ‘guarantees and security ‘pccoeding to the information and-explanations 2° to us the Company has not accepted oy deposits from the public within: the meaning ‘gf Section 73, 74, 75 and 76 of the Companies Act 2013, for the Company The Central Goverment has ney prescribed the maintenance.nf cost records under sector 148(1) of the Companies Act 2013, forthe.company: {a} According to the information and explanations given to us and on the basis of our examination of the records of the companys ‘amounts deducted /accrued in the books of account in respect of ‘undisputed statutory dues including provident fund, employees) state Wnsurpnrs ingame tax arte tax, service tax, duty of customs, duty of ev

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