We have audited the accompanying financial statements of Dynamic
Arehistructurcs Limited ("the Company''). which comprise the Balance
Sheet as at 31 March, 2015. the Statement of Profit and Loss and the
Cash Flow Statement for the year then ended, and a summary of the
significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act. 2013 ("the Act"') with respect
to the preparation of these financial statements that give a true and
fair view of the financial position., financial performance and cash
Hows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act. read with Rule 7 of the
Companies (Accounts) Rules. 2014. This responsibility also includes
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and for
preventing and detecting frauds and other irregularities, selection and
application of appropriate 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 statements that give a true and lair view and arc free from
material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We have taken into account the
provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the
provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and the disclosures in the financial statements. The
procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal financial control relevant
to the Company's preparation of the financial statements that give a
true and fair view in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing
an opinion on whether the Company has in place an adequate internal
financial controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the
appropriateness of the accounting policies used and the reasonableness
of the accounting estimates made by the Company's Directors, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
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 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 31 March 2013. and its profit and its cash flows for the year ended
on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order. 2015 ('the
Order') issued by the Central Government of India in terms of
sub-section (11) of Section 143 of the Act. we give in the Annexure, a
statement on the matters specified in paragraphs 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 best of our knowledge and belief were necessary for the
purposes of our audit;
(b) In our opinion, proper hooks of account as required by law have
been kept by the Company so far as it appears from our examination of
those hooks;
(c) The Balance Sheet, the Statement of Profit and Loss, land the Cash
Flow Statement dealt with by this Report are 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;
(e) In our opinion, there are no financial transactions or other matters
which have an adverse effect on the functioning of the company;
(f) On the basis of the written representations received from the
directors as on 31 March 2015 taken on record by the Board of
Directors, none of the directors is disqualified as on 31 March 2015
from being appointed as a director in terms of Section 164(2) of the
Act; and
(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 did not have any pending litigation for which there
were any material foreseeable losses.
ii. 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, to the Investor Education and Protection Fund by the
Company.
The Annexure referred to in our Independent Auditors' Report to the
members of the Company on the financial statements for the year ended
31st March 2015, we report that:
i. (a) The Company is maintaining proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) The Company has a regular programme of physical verification of its
fixed assets by which all fixed assets are verified in a phased manner
over a period of one year. In our opinion, this periodicity of physical
verification is reasonable having regard to the size of the Company and
the nature of its assets. No material discrepancies were noticed on
such verification.;
ii. Company is a non banking finance company and has no any stock.
Accordingly, we are not required to comments on the same.
iii. The Company has not granted any loans, secured or unsecured, to
companies, firms or other parties covered in the register maintained
under Section 189 of the Act. Accordingly, paragraphs (iii) (a) and (b)
of the Order arc not applicable to the Company.
iv. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business with regard
to purchase of inventories and fixed assets and with regard to the sale
of goods and services. We have not observed any major weakness in the
internal control system during the course of the audit.
v. In our opinion, and according to the information and explanations
given to us. the Company has not accepted deposits as per the directives
issued by the Reserve Rank of India under the provisions of Sections 73
to 76 or any other relevant provisions of the Act and the rules framed
there under. Accordingly, paragraph 3(v) of the Order is not applicable
to the Company.
vi. Company is a non banking finance company and The Central Government
has not prescribed the maintenance of cost records under section 148(1)
of the Act.
vii. (a) According to the information and explanations given to us and
on the basis of our examination of the records of the Company, amounts
deducted / accrued in the books of account in respect of undisputed
statutory dues including Provident Fund, Employees' State Insurance,
Income-tax, Sales-lax. Wealth lax. Service tax. Duty of Customs, Duty
of Excise. Value added lax, Cess, and other material statutory dues,
whichever is applicable to it, have been generally regularly deposited
during the year by the Company with the appropriate authorities.
According to the information and explanations given to us, no
undisputed amounts payable in respect of Provident Fund, Employees
State Insurance. Income-tax. Sales-tax. Wealth tax. Service tax. Duty
of Customs, Duty of Excise. Value added tax, Cess and other material
statutory cues were in arrears as at 31 March 2015 for a period of more
than six months from the date they became payable.
(b) According to the information and explanations given to us. there are
no material dues of Income tax. Sales tax. Wealth tax. Service tax, Duty
of Customs. Duty of Excise, Value added tax and Cess which have not been
deposited with the appropriate authorities on account of any dispute.
(c) According to the information and explanations given to us. the
amount required to he transferred to Investor Education and prodection
Fund in accordance with the relevant provisions of the Companies Act.
1956 (1 of 1956) and rules made there under has been transferred to
such fund within time.
viii. The Company does not have any accumulated losses) at the end of
the financial year and has not incurred cash losses in the financial
year and in the immediately preceding financial year.
ix. In our opinion and according to the information and explanations
given to us. the Company has not defaulted in repayment of tines to a
financial institution or banks. The Company did not have any
outstanding debentures.
x. According to the information and explanations given to us. the
Company has not given any guarantee for loans taken by others from
banks or financial institutions.
xi. The Company did not have any term loans outstanding during the
year.
xii. According to the information and explanations given to us. no
fraud on or by the Company has been noticed or reported during the
course of our audit.
For. V.M. Lodha & co
Chartered Accountants
Firm's Registration No: 305152E
Place : 7. Sarat Bose Road.
: Kolkata (W.B.) 700 020 (V. M. Lodha)
Proprietor
Date : 24th August 2015 Membership No: 008868
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