To the members of Trans Medicare Limited
We have audited the accompanying financial statements of Trans Medicare Limited as
at 31st March 2017 which comprise the Balance Sheet as at 31st March
2017, Profit and Loss Statement for the year ended and Cash Flow Statement on that date
and a summary of significant accounting policies and other explanatory information.
Managements Responsibility for the Financial Statements:
The Companys 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 standalone financial statements that give a true and fair view of the financial
position, financial performance and cash flows 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 fair view and are free from material
misstatement, whether due to fraud or error.
Auditors Responsibility:
Our responsibility is to express an opinion on these Standalone 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
auditors 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 Companys 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 Companys 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 standalone financial statements.
Opinion:
In our opinion and to the best of our information and according to the explanations
given to us, the 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
a) in the case of the Balance Sheet, of the state ofaffairs of the Company as at March
31st 2017
b) in the case of the Profit and Loss Statement, of the Profit for the year ended on
that date
c) in the case of the Cash Flow Statement for the year ended on that date;
Report on Other Legal and Regulatory Requirements:
1. The Scheme of Arrangement for reduction and re-organisation of share capital and for
further issue of shares and convertible warrants approved by the Honble High Court of
Andhra Pradesh and Telangana is pending completion.
2. As required by the Companies (Auditors Report) Order, 2016 ("the Order"),
issued by the Central Government of India in terms of sub-section (11) of Section 143 of
the Act, based on the comments in the auditors reports of the company, we give in the
Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the
extent applicable.
3. As required by section 143(3) of the Act, we report that:
(a) we have obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audit;
(b) in our opinion proper books of account as required by law have been kept by the
Company so far as appears from our examination of those books
(c) The Balance Sheet and the Profit and Loss 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 referred to in section 133 of the Companies Act, 2013, read with Rule 7 of the
Companies (Accounts) Rules, 2014;
(e) On the basis of written representations received from the directors as on March 31,
2017, and taken on record by the Board of Directors, none of the directors is disqualified
as on March 31, 2017, from being appointed as a director in terms of section 164(2) of the
Companies Act, 2013.
(f) 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, 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 its financial
position.
ii. The Company does not have any long-term contracts including derivative contracts
for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company,
For Y. Raghuram & Co Chartered Accountants (FRN 009415S)
Sd/-
Y Raghuram Partner
(Memb No: 022678)
Place of Signature: Hyderabad Date: 07.08.2017
Annexure to the Auditors Report Of Trans Medicare Limited ("The
Company") on the financial statement of the company for the year ended 31st
March, 2017.
1} In respect of its fixed assets
a) The Company has maintained proper records showing full particulars, including
quantitative details and situation of fixed assets.
b) As explained to us, the Company has only Factory Building and Land in its fixed
assets and they have been physically verified by the management, which in our opinion is
reasonable, having regard to the size of the Company and nature of its assets. No material
discrepancies were noticed on such physical verification
2) The Company does not have any manufacturing and trading activity in the current and
previous financial years. Accordingly, it does not hold any physical inventories. Thus,
paragraph 3(ii) of the Order is not applicable.
3) The Company has not granted any loans, secured or unsecured to companies, firms,
Limited Liability partnerships or other parties covered in the Register maintained under
section 189 of the Act. Accordingly, the provisions of clause 3 (iii) (a) to (C) of the
Order are not applicable to the Company and hence not commented upon.
4) In our opinion and according to the information and explanations given to us, the
company has not granted any loans as per the provisions of section 185 and 186 of the
Companies Act, 2013 and hence this clause is not applicable,
5} The Company has not accepted any deposits from the public and hence the directives
issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other
relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with
regard to the deposits accepted from the public are not applicable
6) The Central Government has not prescribed the maintenance of cost records under
section 148(1} of the Act, for any of the services rendered by the Company,
7) In respect of statutory dues
a) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company has been generally regular in
depositing undisputed statutory dues including Income-Tax and any other statutory dues
with the appropriate authorities.
b) According to the information and explanations given to us, the following are the
undisputed amounts payable in respect of the above were in arrears as at March 31, 2017
for a period of more than six months from the date on when they become payable.
| Nature of dues |
Amount Rs |
| TDS Payable for FY 2007-08 |
25,169 |
| TDS Payable for FY 2009-10 |
1,194 |
| TDS Payable for FY 2010-11 |
5,420 |
| TDS Payable for FY 2015-16 |
5,620 |
| TDS Payable for FY 2016-17 |
12,448 |
| Total |
49,851 |
c) According to the information and explanation given to us, there are no dues of
income tax, sales tax, service tax, duty of customs, duty of excise, value added tax
outstanding on account of any dispute.
8) In our opinion and according to the information and explanations given to us, the
Company has not taken any loan either from financial institutions or from the government
and has not issued any debentures.
9} Based upon the audit procedures performed and the information and explanations given
by the management, the company has not raised moneys by way further public offer including
debt instruments and term Loans. Accordingly, the provisions of clause 3 (ix) of the Order
are not applicable to the Company and hence not commented upon.
10) Based upon the audit procedures performed and the information and explanations
given by the management, we report that no fraud by the Company or on the company by its
officers or employees has been noticed or reported during the year.
11) In our opinion and according to the information and explanations given to us, no
managerial remuneration has been paid by the company,
12) In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of
clause 4 (xii) of the Order are not applicable to the Company.
1.3) In our opinion and according to the information and explanations given to us, no
transactions with related parties have been entered by the company during the financial
year,
14) Based upon the audit procedures performed and the information and explanations
given by the management, the company has not made any preferential allotment or private
placement of shares or fully or partly convertible debentures during the year under
review. Accordingly, the provisions of clause 3 (xiv) of the Order are not applicable to
the Company and hence not commented upon.
15] Based upon the audit procedures performed and the information and explanations
given by the management, the company has not entered into any non-cash transactions with
directors or persons connected with them. Accordingly, the provisions of clause 3 (xv) of
the Order are not applicable to the Company and hence not commented upon,
16] In our opinion, the company is not required to be registered under section 45 1A of
the Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3 (xvi] of
the Order are not applicable to the Company.
For Y. Raghuram & Co
Chartered Accountants
(FRN 009415S)
Sd/
V Raghuram
Partner
{MembNo: 022678)
Place of Signature: Hyderabad
Date: 07.08.2017
+91-9892691696
