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Updated:07 May, 2021, 12:09 PM IST

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Disclosure in auditor’s report explanatory

Independent Auditors’ Report

To the Members of Aster DM Healthcare Limited

(formerly known as Aster DM Healthcare Private Limited)

Report on the Standalone Financial Statements

We have audited the accompanying standalonefinancial statementsof Aster DM Healthcare Limited(formerly known as Aster DM Healthcare Private Limited)(the “Company”), which comprise the balance sheet as at 31 March 2015 and 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 standalone 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 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 theAccounting 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 standalone 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 havetaken 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 thereunder.

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 standalone financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone 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 standalone financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion on the standalone financial statements. 

Aster DM Healthcare Limited

(formerly known as Aster DM Healthcare Private Limited)

Independent Auditors’ Report (continued)

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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 2015 and its loss 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 the paragraph 3 and 4 of the Order, to the extent applicable.

2.      As required bySection143(3) of the Act, we report that:

(a)             We have sought and obtained all the in formation 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 and the cash flow statement dealt with by this Report are in agreement with the books of account;

(d)             In our opinion, the aforesaid standalone 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)             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 on31 March 2015 from being appointed as a director in terms of Section 164 (2) of the Act; and

(f)              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 in formation 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  did not have any long term contracts including derivative contracts for which there were any material foreseeable losses; and

iii.          there were no amounts, which are required to be transferred to the Investor Education and Protection Fund by the Company.

 

forB S R and Associates

Chartered Accountants

Firm registration number: 128901W

 

 

 

 

Supreet Sachdev

Partner

Membership number: 205385

Kochi

21 July 2015

Aster DM Healthcare Limited

(formerly known as Aster DM Healthcare Private Limited)

Annexure to the Independent Auditors’ Report

Annexure referred to in our report to the members of Aster DM Healthcare Limited(formerly known as Aster DM Healthcare Private Limited)(the “Company”)on the standalone financial statementsfor the year ended 31 March 2015. We report that:

(i)   (a)   The Company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets.

      (b)   The Company has a regular programme of physical verification of its fixed assets by which fixed assets are verified in a phased manner over a period of three years. In accordance with this programme, certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

(ii)  (a)   The inventory has been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable.

      (b)   The procedures for the physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

      (c)   On the basis of our examination of the record of inventory, we are of the opinion that the Company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material.

(iii) (a)   The Company has granted unsecured loans to three subsidiaries covered in the register maintained under section 189 of the Companies Act, 2013. In our opinion and according to the information and explanations given to us and based on legal interpretation, the Company does not consider the reimbursement of costs and outstanding against the same to fall under the purview of loans. The terms of the loan arrangements do not stipulate any repayment terms of principle/ interest and are repayable on demand. As the repayment has not been demanded as at the year end, paragraph 3 (iii) (a) of the Order is not applicable.

       (b)             Since the terms of the agreement do not stipulate repayment terms of principle/ interest and as no demand has been made, there are no overdue amounts in excess of Rs 1 lakh. Accordingly, paragraph 3 (iii) (b) of the Order is not applicable.

(iv)                In our opinion and according to the information and explanations given to us and having regard to the explanation that provision of certain services are for the Company’s customers specialized requirements and suitable alternative sources are not available to obtain comparable quotations, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories and fixed assets and the sale of goods and services. We have not observed any major weakness in the internal control system during the course of our audit. 

(v)                  The Company has not accepted any deposits from the public. 

(vi) The maintenance of cost recordsas prescribed under Section 148(1)(d) of the Act are not applicable to the Company.

Aster DM Healthcare Limited

(formerly known as Aster DM Healthcare Private Limited)

Annexure to the Independent Auditors’ Report (continued)

(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 provident fund, employees’ state insurance, income tax, value added tax, cess, sales tax, service tax, customs duty, wealth tax and other material statutory dueshave generally been regularly deposited during the year by the Company with the appropriate authorities. As explained to us, the Company did not have any dues on account of excise duty.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, employees’ state insurance, income tax, wealth tax, sales tax, value added tax, customs duty, service tax and cess 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 dues of income tax, wealth tax, service tax, customs duty, value added tax, sales 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 Company did not have any dues on account of Investor Education and Protection Fund.

(viii)      In our opinion, the accumulated losses of the Company are not more than fifty percent of its net worth. The Company has incurred cash losses during the current financial year. However, the Company did not incur any cash losses during the preceding financial year.

(ix)        As per the information and explanations given to us, the Company has not defaulted in repayment of dues to banks. The Company did not have any outstanding dues to any financial institutions or debenture holders.

(x)         According to the information and explanations given to us, the Company has given guarantees for loans taken by its subsidiaries from banks. In our opinion and according to the information and explanations given to us, the terms and conditions of such guarantees are not prejudicial to the interest of the Company. The Company has not given any guarantee for loans taken by others from financial institutions.

(xi)        In our opinion and according to the information and explanations given to us, the term loans taken by the Company have been applied for the purpose for which they are raised.

(xii)       According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit.

forB S R and Associates

Chartered Accountants

Firm registration number: 128901W

 

 

 

Supreet Sachdev

Partner

Membership number: 205385

 

Kochi

21 July 2015

Disclosure in auditors report relating to fixed assets

a) The Company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets. (b) The Company has a regular programme of physical verification of its fixed assets by which fixed assets are verified in a phased manner over a period of three years. In accordance with this programme, certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

Disclosure relating to quantitative details of fixed assets

The Company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets.

Disclosure relating to physical verification and material discrepancies of fixed assets

The Company has a regular programme of physical verification of its fixed assets by which fixed assets are verified in a phased manner over a period of three years. In accordance with this programme, certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

Disclosure in auditors report relating to inventories

The inventory has been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable. (b) The procedures for the physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) On the basis of our examination of the record of inventory, we are of the opinion that the Company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material.

Disclosure of physical verification of inventories at fixed intervals

The inventory has been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable.

Disclosure of procedure followed for physical verification of inventories

The procedures for the physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

Disclosure in auditors report relating to guarantee given

According to the information and explanations given to us, the Company has given guarantees for loans taken by its subsidiaries from banks. In our opinion and according to the information and explanations given to us, the terms and conditions of such guarantees are not prejudicial to the interest of the Company. The Company has not given any guarantee for loans taken by others from financial institutions.

Disclosure in auditors report relating to term loans used for purpose other than for purpose they were raised

In our opinion and according to the information and explanations given to us, the term loans taken by the Company have been applied for the purpose for which they are raised.

Disclosure in auditors report relating to any material fraud reported during period

According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit.

Disclosure about maintenance of inventory records and material discrepancies

On the basis of our examination of the record of inventory, we are of the opinion that the Company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material.

Disclosure in auditors report relating to loans

(a) The Company has granted unsecured loans to three subsidiaries covered in the register maintained under section 189 of the Companies Act, 2013. In our opinion and according to the information and explanations given to us and based on legal interpretation, the Company does not consider the reimbursement of costs and outstanding against the same to fall under the purview of loans. The terms of the loan arrangements do not stipulate any repayment terms of principle/ interest and are repayable on demand. As the repayment has not been demanded as at the year end, paragraph 3 (iii) (a) of the Order is not applicable. (b) Since the terms of the agreement do not stipulate repayment terms of principle/ interest and as no demand has been made, there are no overdue amounts in excess of Rs 1 lakh. Accordingly, paragraph 3 (iii) (b) of the Order is not applicable.

Disclosure in auditors report relating to internal control system

(iv) In our opinion and according to the information and explanations given to us and having regard to the explanation that provision of certain services are for the Company’s customers specialized requirements and suitable alternative sources are not available to obtain comparable quotations, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories and fixed assets and the sale of goods and services. We have not observed any major weakness in the internal control system during the course of our audit.

Disclosure in auditors report relating to maintenance of cost records

(vi) The maintenance of cost records as prescribed under Section 148(1)(d) of the Act are not applicable to the Company

Disclosure in auditors report relating to accumulated losses

In our opinion, the accumulated losses of the Company are not more than fifty percent of its net worth. The Company has incurred cash losses during the current financial year. However, the Company did not incur any cash losses during the preceding financial year.

Disclosure in auditors report relating to default in repayment of financial dues

As per the information and explanations given to us, the Company has not defaulted in repayment of dues to banks. The Company did not have any outstanding dues to any financial institutions or debenture holders.

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