Annual Report 2016-17

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Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone

Ind AS onancial 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 March 31, 2017, and its proot, total comprehensive income, its cash pows and the changes in equity for the year ended

on that date.

Report on Other Legal and Regulatory Requirements

As required by Section 143(3) of the Act, based on our audit we report, to the extent applicable 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 Proot and /oss including Other Comprehensive Income, the Cash Flow

Statement and Statement of Changes in Equity dealt with by this Report are in agreement with the relevant

books of account.

d) In our opinion, the aforesaid standalone Ind AS onancial statements comply with the Indian Accounting

Standards prescribed under section 133 of the Act.

e) On the basis of the written representations received from the directors as on March 31, 2017 taken on record

by the Board of Directors, none of the directors is disqualioed as on March 31, 2017 from being appointed as a

director in terms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal onancial controls over onancial reporting of the Company and the

operating effectiveness of such controls, refer to our separate Report in “Annexure A”. Our report expresses

an unmodioed opinion on the adequacy and operating effectiveness of the Company’s internal onancial

controls over onancial reporting.

g) With respect to the other matters to be included in the Auditors’ Report in accordance with Rule 11 of the

Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to the best of our information

and according to the explanations given to us:

The Company has disclosed the impact of pending litigations on its onancial position in its standalone Ind

AS onancial statements;

ii. The Company has made provision, as required under the applicable law or accounting standards, for

material foreseeable losses, if any, on long-term contracts including derivative contracts;

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education

and Protection Fund by the Company;

iv. The Company has provided requisite disclosures in the onancial statements as regards its holding and

dealings in Specioed Bank Notes as deoned in the Notiocation S.O. 3407(E) dated the November 08, 2016

of the Ministry of Finance, during the period from November 08, 2016 to December 30, 2016; and such

disclosures are in accordance with the books of account maintained by the Company.