koth-ari co · standards specified under section 133 of the act, read with rule 7 of the companies...

t .R. KOTH-ARI COChartered Accountants

9, Churchgate Mansion,`A' Road, Churchgate,N1umhai - 400 020Mobile : 9322874357

Proprietor

D. R. KO' I'HAR!

R.('OM., F.('.A.

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF SEAWIND INVESTMENT & TRADING COMPANY LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of SEAWIND INVESTMENT &

TRADING COMPANY LIMITED ("the Company"), which comprise the Balance Sheet as at March 31,

2017, the Statement of Profit and Loss and the Cash Flow statement for the year then ended, and a

summary of 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 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 provision 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.

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

t .R. KOTI-IAR(^ COChartered Accountants

view in order to design audit procedures that are appropriate in the circumstances. 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 standalone financial statements.

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 March 31, 2017 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' a statement on the matters specified in the paragraph 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 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 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 March 31, 2017

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 Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of the

Company and the operating effectiveness of such controls, refer to our separate Report in

'Annexure B'.

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 .R. fWTHARI CDChartered Accountants

a. There are no pending litigations.

b. The Company does not have any long term contracts including derivative contracts for

which there were any material foreseeable losses.

c. There were no amounts which were required to be transferred to the Investor

Education and Protection Fund by the Company.

d. The Company has provided requisite disclosures in the Standalone Financial Statements

as to holdings as well as dealings in Specified Bank Notes during the period from 8

November, 2016 to 30 December, 2016. Based on the audit procedures and relying on

the management representation, we report that the disclosures are in accordance with

the books of account maintained by the Company and as produced to us by the

Management- Refer Note 22 to the Standalone Financial Statements.

For and on behalf of

D.R. KOTHARI & CO.

Chartered Accountants

Registration No.105301W

Mumbai; 26"' May, 2017

D. R. Kothari

Proprietor

Membership No.4337

p.RR. k OTEfARl CDChartered Accountants

'Annexure A' to the Independent Auditor's Report(Referred to in Para 1 of our Report of even date to the members of the Company on the standalone

financial statements for the year ended March 31, 2017)

i) a) The Company has maintained records showing full particulars, including quantitative details

and situation of fixed assets.

b) According to the information and explanation given to us by the management of the

Company, as per its program of physical verification of fixed assets , verifies it in a phased

manner over a period of three years. In our opinion, the interval of such verification is

reasonable, having regard to the size of the Company and the nature of its assets. No

material discrepancies were noticed in respect of the assets physically verified during the

year.

c) According to the information and explanation given to us and on the basis of our examination

of the records of the Company, the title deeds of immovable properties are held in the name

of the Company.

The nature of business is such that it does not require the Company to have inventory.

Accordingly, Clause 3(ii) of the said Order is not applicable.

iii) The Company has not granted any unsecured loans/ deposits, secured or unsecured, to

companies, firms or other parties listed in the register maintained under section 189 of the

Companies Act. Consequently, the provisions of clauses iii (a) & iii (b) of the order are not

applicable to the Company.

iv) In our opinion and according to the information and explanation given to us, the Company

has complied with the provisions of section 185 and 186 of the Companies Act,2013 with

respect to loans, investments guarantees and security.

v) As the Company has not accepted deposits from the public, relevant directives of the RBI are

not applicable.

As informed to us that maintenance of cost records has not been prescribed by the Central

Government under section 148 (1) of the Companies Act in respect of activities carried out by

the Company.

vii) According to the information and explanation given to us and the records examined by us,

the Company is generally regular in depositing undisputed statutory dues, including dues

pertaining to Income-tax and any other statutory dues with the appropriate authorities. We

have been informed that there are no undisputed dues which have remained outstanding as

at the end of the financial year, for a period of more than six months from the date theybecame payable.

viii) As the Company has not taken any loans from the banks or financial institutions and not

issued any debentures, the question of default in repaying does not arise.\,

p.R. K DTI fARJ COChartered Accountants

ix) The Company has not taken any term loans nor raised any moneys by way of public offers,

hence Clause 3(ix) is not applicable to the Company.

x) Based upon the audit procedures performed by us, to the best of our knowledge and belief

and according to the information and explanations given to us by the Management, no fraud

on, or by the company, has been noticed or reported during the year.

The Company has not employed any person to whom managerial remuneration is payable

during the year under review.

xii) In our opinion and according to the information and explanations given to us, the Company is

not a Nidhi Company.

xiii) According to the information and explanations given to us and based on the examination of

the records of the Company, transactions with the related parties are in compliance with

section 188 of the Act where applicable and details of such transactions have been disclosed

in the financial statements as required by the applicable statements.

xiv) According to the information and explanations given to us and based on our examination of

the records of the Company, the Company has not made any preferential allotment or

private placement of shares or fully or partly convertible debentures during the year.

xv) According to the information and explanations given to us and based on the examination of

the records of the Company, the Company has not entered into any non-cash transactions

with directors or persons connected with him.

xvi) The Company is registered as a Non- Banking Financial Company (NBFC) under section 45-1A

of the Reserve Bank of India Act,1934.

Mumbai ; 26t'' May, 2017

For and on behalf of

D.R. KOTHARI & CO.

Chartered Accountants

Registration No.105301W

D. R. Kothari

Proprietor

Membership No.4337

I.R. K.OTH-AR(,^ CO('hartered Accountants

'Annexure B' to the independent Auditor's Report of even date on the Standalone Financial

Statements of Seawind Investment & Trading Company Limited

Report on the Internal Financial Controls under Clause ( i) of Sub-section 3 of Section 143 of the

Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of Seawind Investment &

Trading Company Limited ("the Company"), as of March 31, 2017 in conjunction with our audit of the

standalone financial statements of the Company for the year ended on that date.

Management 's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internal financial

controls based on the internal Control over financial reporting criteria established by the company

considering the essential components of internal control stated in the Guidance Note on Audit of

Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants

of India. These responsibilities include the design, implementation and maintenance of adequate

internal financial controls that were operating effectively for ensuring the orderly and efficient

conduct of its business, including adherence to company's policies, the safeguarding of its assets, the

prevention and detection of frauds and errors, the accuracy and completeness of the accounting

records, and the timely preparation of reliable financial information, as required under the

Companies Act, 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial

reporting based on our audit. We conducted our audit in accordance with the Guidance Note on

Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the Standards

on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies

Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an

audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of

India. Those Standards and the Guidance Note require that we comply with ethical requirements and

plan and perform the audit to obtain reasonable assurance about whether adequate internal

financial controls over financial reporting was established and maintained and if such controls

operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the

internal financial controls system over financial reporting and their operating effectiveness. Our audit

of internal financial controls over financial reporting included obtaining an understanding of internal

financial controls over financial reporting, assessing the risk that a material weakness exists, and

testing and evaluating the design and operating effectiveness of internal control based on the

assessed risk. The procedures selected depend on the auditor's judgement, including the assessment

of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis

for our audit opinion on the Company's internal financial controls system over financial reporting.

Sea Wind Investment and Trading Company Limited

Balance sheet

I( urrencs: Indian Rupee.)

\oir> 31 March 201- ',1 March 2016

I•:QI I Il \\l) I,L\RII.I Ills

Shareholders' funds

Share capital 3 598,200 598.200

Re.ene..nld <urplu. 4 14.943,085 11.78 I. S I I15,541, 285 15.3 79.711

Current liabilities

AdNa nccs recei.rd 5 - I (1(10,(10))

( )thcr current liahiliuc. 6 25,11111) 23,000

28,0011 I.023.001)

Sol \I 15,569,285 16.402.711

%%",I Is

\on-current assets

I• used \sscts

- I ane.ible assets 7 ,547,952 ,507.9^2

sson-current ills e.llllenl. N 9,122,424 9.072.124I ong term luau. and ad, ances 9 2,571,680 2.562.755

13.242.059) 13.143.13 I

( urrenl assets

Current inseaments /1) 4,895 4.895('ash and bank balance 11 610.692 .1.11 11.269

Short-term loan; and adsances / 2 1,540.000 2.6 10.01(0( )Iher current asscls 14 171.642 221.417

2.327,229 : 259.i50

TOFU. 15,569, 285 16.102,71 1

Significant accounting policies

\otes referred to abose form an integral part of the financial statements.

A. per our report of es en date attached.

For I). It. kulhari & Cu.

( h,l17c'r,' / 4, ..aml( 111(5

Firm's Registration ho: 105301

I). It. kothari1'501'P ie! r

Menlhcr.hip No: 114337

Mumhai: 216th \la\. 2017

For and on behalf of the hoard of Director. of

Sea \\ ind Insestment and I railing (nmpam Limited

IN- I'65993'1111988p1 C047564

II I)ahu»sulu R.lasshree

l'ln,, 1,u Ihrec/,,r

I)I\ - 110047 5 11 I)I\ - ))))1181620

\lunlhai: 26th Van. ?1117


Statement of Profit and Loss

Jar 1/h' vew, cv)clecl 31 ;1/(irc•h 1)1

(( urrenc\ : Indian Rupees)

\'o/e% For the ear ended Ior the sear ended

31 larch 201' 31 March 2016

Re%enue from operations

Other operating income 14 283,3'5 244.781

283,375 244.7X I

Expenses

( )tier expenses 15 51.801 60.311)

51,801 60.319

f rolit(loss) hetiire extraordinar items and tax 231.574 184.462

I.xtraordinars item

Prior period expenses ( tax refund for earlier years ^srittcn oil )

Proliti I.oss before tax 231,574 174.462

Ias expense:

- Current tax 70,000 I)))).))0i

- I)elcrred tax charge (credit) - -

Protit loss l or the sear 161,574 74.40'

Earnings per equity share

l1asic and diluted earnings per share ON is 27.01 12.45(Pace %alue Rs IOO per share)


N d h ilc o l f h fi i lotes re to a statements.rre oy c ) rm an ntegra part o t e nanc a

As per our report of e\ en date attached.

For I). R. kothari & Co. for and on hchalfol'the Board of Directors o f('hcuh'rcd I( C . 1)1111111111 % Sea % ind Investment and Trading ( ompan,^ LimitedFirm's Rceistration No: 1053(11\1` (IN- I h5993MI I I9981)I ('0475h4

I,

I). R. Kothari

Pro1u'relnr

\lemhership No: 04337

MIunthai: 26th .\1a\. 2017

^1 ^C)'^^^ elf

N H I)atanwala R .Iavshree

l )ir. , for l W ITT ,r

DIN- 1)1)1)47544 DIN- 01)1)8 1620

Mumhai: 26th alas. 2017

Sea Wind Ins estment and I riding Compan\ Limited

Cash now statementI t rh,•r ,,rr e ,td,•<! ?/ I1; 1)•, h 2(11'

(('mimes Indian Rupees)

( ' %Sit Fl O\\ F R ( ► \ 1 Ol'FIR.\IIN (: \( l 1 \ I I IFS

Net 1 'rorit I' to e cis

For the scar ended I

31 Starch 2 01"

231,574

or the sear ended 31

\larch 2016

1 74.462

Idjt,snrrenr b n

1)I%idrnd income ( 210)

I oss on sale of msestmcnts

Interest uuonte (2113.375) (24-1.531)(283.3-5 ) (244 781 )

Opera t ing loss before corking capital changes (51,801) 171'.+19)

I //ucrmenr, tot rlnui¢r, In „begins „r/1rrt /

I)ckrca,c nl other current ha(11ms, 5,1100 (V,' (,;0j

5,1111(1 (Xi 0,30)

Cash used in operatln)' acuvucs (46,8111) (155 949)

T;I\es paid (?8,9251 1122_,1141

Net cash used in operating actin ilic% I \ ) (125,1260 (_278.1x631

('\Sit FIO\\ FRO\1IN%FSIINC \( I1\ II IFS

I quits 10nu1hullun Ill associate

Insesunent In I-.yugc Shares (511.000)

D o\ Idend rccers ed 250

Interest Income 2%3,375 2 L1's31

Interest received 211%,02')

Interest recelsahle 115R.254) 1'_21.417)

l'roccedsfront repa,Inentof loan 1,200,11181 249,900

Loans eisen (140,(100) (2,600000)

Loans taken I .00(),000

Repacment of I oan taken 1 I,111111,(11)I))

I'm, „! 'Iced asset, 1411.1111111 (Ml (,x100 )

Net rash (loss generated frurn investing actisit lies (131 303,151) ( 1.406.816 )

( \1111 FI O\\ I. R ( ► \t I IN \N( I N ( I \l II\ I t

Net cash nos from(uscd in) financing act is ii es (()

Net increase in cash and cash cyutsalent (A ' It , (') I'-.)2_4 (.684.899)

Cash and cash equivalents at the beginning of the sear 43.1,2611 2.118.167

Cash and cash eymsalcnts at the end of the sear I refer note 10) 6111,692 411 2h8

Notes

I I he Cash thins statement has been prepered under the indirect method as set out in Accounting Standard - 3 CAS i') on Cash Flow Statement

Fresco bed in (onlpanres (Accounlmg Standard) Rnles 201)6

2 Components of cash and cash equlcalents

Balances will hanks

- in current ,ie%O(inls


\,Ites Ielerre l to ahose 1i,rin an Inte-pal pan of the financial statements

610.692 4±3._r s

611),6')2 43 ;,2t,8

As per our report of es con date attached

for 1). R. Kothari & (o.

( harrl' I.',l a, ,rllitani,

Ilnns Replsuation Ni, I ti5 30l AA (I\- I i6 r993M11I98R1 'I 0047664 1,it u

I). R. hothari

l'ru,', (I7" t

\lcmherslup No (14317

hlumhal 26th \las 2,117

I or and on hehall of the Huard of I )Irecturs of

Sea \\ ind Incestrnent and I rading ( ompan Limited

N II I)atansala R.racshree

l 'irecf t / I:, ,' 1 -

I)IN- 0(n.17544

\1umh;tl 226th \las 2",1'

I)IN 001'e I n2n


Notes to the financial statementsJi,r file tear etc%cl 31 tlare/i 201

(Currenc\: Indian rupees)

1. Company os erg ie%%

Sea Wind Imcstmcnt and Trading Compan\ Limited ("the ('ompan)") is it public lintited

company incorporated under the Companies Act. I1),;6 ('the Act') and it subsidiary of I he

Bombay f;urmah Trading Corporation, Limited. Hie Company is a registered Non-

l;ankimg Financial ('ompan\.

2. Significant Accounting Policies

(i) Basic for preparation of financial statements

'I hese financial statements have been prepared and presented on the accrual basis of

accounting and comply with the accounting standards notified under Section 133 of the

Companies Act. 2013 read with Rule 7 of Companies (Accounts) Rules. 2014 to the extent

applicable and other accounting principles generally accepted in India, to the extent

applicable.

NO (!.se of eclimate.%

The preparation of financial statements in conformity with Generally Accepted Accounting

Principles ('(IAAP') requires management to make estimates and assumptions that affect

the reported amounts of assets and liabilities and disclosure of contingent liabilities as of

the date of financial statements. and the reported amount of revenue and expenses during

the reporting period . The estimates and assumptions used in the accompanying financial

statements are based upon management ' s evaluation of the relevant facts and

circumstances as of the date of the financial statements . Actual results may differ from

those estimates used in preparing the accompan\ lug financial statements . Any revision to

accounting estimates i, reco (nired prospectivel\ in current and future periods.

(iii) Current-non-current classification

f he Schedule III to the Companies Act. 201 3 requires assets and liabilities to he classified

either Current or Non-current.

a) An asset shall he classified as current \\ hen it satisfies any of the following criteria:

it it is expected to he realised in. or is intended fir sale or consumption in. thecompany's normal operating cycle:

ii) it is held primarily for the purpose of being traded:

iii) it is expected to he realised t\ ithin twei e months after the reporting date: or

iv) it is Cash or cash equivalent unless it is restricted from being exchanged or used

to settle it liability for at least twelve months after the reporting (fate.

b) All assets other than current assets shall he classified as non-current


Notes to the financial statements (Continued)for the veer ended 31 :4lurch 201

(Currency: Indian rupees)

2. Significant Accounting Policies (Continue(l)

(iii) Current-non-current classification (Continued)

c) A liability shall be classified as current when it satisfies any of the following criteria:

i) it is expected to he settled in the company's normal operating cycle:

ii) it is held primarily for the purpose of being traded:

iii) it is due to be settled within twelve months after the reporting date: or

iv) the company does not have an unconditional right to deter settlement of the

liabilit for at least twelve months after the reporting date.

d) All liabilities other than current liabilities shall he classified as non-current.

Operating cycle

An operating cycle is the time between the acquisition of assets and theirrealization in cash or cash equivalents.

(it) Fired assets

Tangible assets

Fixed assets are stated at cost less accumulated depreciation and impairment losses, ifany.

The cost of fixed assets includes inward freight, duties. taxes and incidental expenses

related to acquisition and installation incurred up to the date of commissioning of the

assets.

Depreciation and amortisation

Depreciation in respect of all the assets is provided on straight line method. The rates of

depreciation prescribed in Schedule II to the Act are considered as minimum rates.

(t) Inrestinents

Long term investments are stated at cost. A provision for diminution is made to recognise

a decline. other than temporary, in the value of long term investments. Current

investments are stated at lower of cost and fair value. Profit or loss on sale of investments

is determined on the basis of weighted average carrying amount of investments disposed

off.

(t'i) Impairment of assets

Vile Company assesses at each balance sheet date whether there is any indication that an

asset may he impaired. If any such indication exists. the Company estimates the

recoverable amount of the asset. "I-he recoverable amount is the greater of the net selling

price and value in use. In assessing value in use, the estimated future cash flows are

discounted to their present value based on an appropriate discount factor. If such

recoverable amount of' the asset or the recoverable amount of the cash generating unit to

which the asset belongs is less than its carrying amount, the carrying amount is reduced to

its recoverable amount. The reduction is treated as an impairment loss and is recognized in

the statement of profit and loss. If at the balance sheet date there is an indication that a

previously assessed impairnient loss no longer exists, the recoverable amount is reassessed


Notes to the financial statements (Continued)/Or the year c'rnlc'(13 / 1 /,orb 201 "

(Currency: Indian rupccII

2. Significant Accounting Policies (Continued)

(vi) Impairment ofassets (Continued)

and the asset is reflected at the recoverable amount subject to it maximum of depreciable

historical cost.

(vii) Revemn ' recognition

Dividend income

Dividend income is accounted for the year in ^yhich the right to receive the same is

established.

Interest income

Interest income is recognised on tittle proportion basis.

(viii) Earnings per share (EPS)

Basic FPS and diluted FPS are calculated h% dividing the net profit or loss for the year

attributable to equity shareholders by the weighted average number of equity shares

outstanding during the year.

(ix) Taxes

Income tax expense comprises of current tax ( i.e. amount of tax for the period determined

in accordance with the income tax law) and deferred tax charge or credit (reflecting the tax

eflect of' timing difference between the accounting income and taxable income for the

period). Hie deferred tax charge or credit and the corresponding deferred tax liability or

asset are recognised using the tax rates that have been enacted or substantively enacted by

the balance sheet date. Deferred tax assets are recognised only to the extent of there is

reasonable certaint\ that the asset can he realised in future: hosseyer. where there is

unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are

recognised only if there is virtual certainty of realisation of such assets. Deferred tax assets

are revie\sed as at each balance sheet date and \%ritten do%kn or \%ritten up to reflect the

amount that is reasonahly virtually certain (as the case may be) to be realised.

(x) provisions and contingencies

The Company creates a provision when there is present obligation as it result of a past

event that probably requires an out floss of resources and it reliable estimate can he made of

the amount of the obligation.. disclosure for it contingent liability is made when there is it

possible obligation or a present obligation that may. but probably will not. require an

outtlo%% of resources. When there is a possible obligation or a present obligation in respect

of which the likelihood of outflow of resources is remote. no provision or disclosure is

made. Loss contingencies arising from claims, litigation. assessment, fines, penalties, etc

are recorded when it is probable that it liabilit\ has been incurred and the amount can he

reasonable ascertained.

\1^

Seawind Investment and Trading Company Limited

Notes to the financial statements (Continued)

u.v u/ 3 1 tlurc•h 2 (1 1 -

(I.urrenc\: Indian RupeesI

31 March 201'

3 Share capital

authorised:

0,100 (I'rc\ loos \ car 6 , 1 1 1 1 1 ) 1- quit\ Shard of R. 11111 each

250 (prc\ious car 25)1)1 I0 Non-Ctinmlatt' e Redeemable 1'relerence

Share. of Rs. 11111 each

I50 (1)re\ioit s scar 150) Non-f timulati\r RedeentLit, le I'rclcrencc Sharesof Rs, 11111 each

Issued , subscribed and paid up:5,98' I Pees iuus \car: 5.98_' 1 I quit\ Shares of Rs. 100 each

Notes:I he reconciliation of shares outstanding at the beginning and at the end of the reporting sear:

Particular. 31 March 2017

No. of shares [mount

Number of cqutt\ shares at the is. 'mnlnv I.f the %c-,r 5.982 5'18.2)8)

Add egmt\ shares issued during the year - -

Number of egmh shares at the end of the \car 5.982 59 8.21M)

?I Alrch (110

61 1.0)1(1 (,I(1.000

25.1)11(1 '5,0(10

15,111111 15,(1(1(1

0511,111111 0,;0. 000

598,21111 598 '1111

598.21111 598,20(1

I March _'Illh

No of shares Amount

98' 5()S.,00

98' 598_200

I lie Compam has a single class ofequit\ share,,. Accordingh. all equit\ shares rank equal l\ \\ith regard to di\idends and share in

the Compan\'s residual assets. I he equit\ shares are entitled to recei\e d i \ idend as declared from Iinte to lime. I Ire (ompan\

declares al id pa\ s dividend in hid an Rupees. I he \ OIiitL' rights of ;tit egt i it\ shareholder on it poll not on sho\\ of hands I arc in

proport ion to its share ol Ilse paid-up equiI\ capital of the contpam . Voting rights cannot he exercised in respect of share,, on \\hich

an\ call or other sums prescntt\ pa\ahle h:oe not been paid.

I ailure to pay am amount called up on shares ma\ lead to lirrlcilure of the share..

()n \\ incline tip of the Contpan\, the holders of equit\ shares \\ ill he entitled to recei\e the residual assets of the (ontp;ut\.

I shares held h\ Holding contpam and their associates

1 he Hontt ur tiurmalr I radml, ( ortx ration tunited , tire holding

Compans

31 March 201" it March 20th

\o.ofcquit %muun1 \o of equity shares

%hares

5,920 59^,6110 5,970 597,60

5,9_11 5'17,61 NI 5,470 597.600

4 I quite shares in the ( ompan\ held b\ each shareholder holdin_, more than 5 io shares

I he finmha\ tiurmah I radmg Corporation IImnted . the holding

Culttpam

31 March 21)17 ' I March 20 It,

No. of equity N. holding No of cquns shares

share.

5976 99,901111 aJ 76

54-1. 99,90°-6

holdlnl'

Seavvind Invcstmcnt and Trading Company Linifted

Notes to the financial statements ((onlinued)

as u( 31 tlcuch _'(1/ -

((-urrcncy Indian Rupees)

31 March 2017 1 Va reh 2(116

4 Rc%er%es and surplus

Capital redemption recer%c I,81111 1,8(It1

Statutory reser%c fund

I )peeing balance 14.969.205 14.954.205Add: Iranslcr from surplus in statcrnent ol'prulit and loss 32,3211 15.000

15,00 1 ,525 14.969205

Surplus in the statement of profit and lo..

Opening balance (189,494 ) (248.956)

Add: Net profit after tax lift the scar I( 1.574 74.462Less: I run.ler to tatutor\ rc.cr e fund 32.320 15.00(1

160,2401 189,49-1)

14,943,085 14,79 L5 I I

Current Liabilities^d^unces nrei\r i 1.011(1,1)110

1.1111,001)

(0 Other current liabilities

Dues to Micro and Small Enterprises (Rclcr note 16)

Dues to others 28,111111 2 ".OO1)

28,11011 2 ±,nuu


Notes to the financial statements (('untiuued)

tt X11 . +; 11,1rc?i .'r)r, ..

r('urren.y Indian Rupeesl

7 Fi\ed assets

t irn„ hl,,ck I)eprcoation amortisation \ct hlr.l.

Sr. \s at I \dditiuns Deductions \s at 31 \s at I For the Deletions \s at 31 \s at 31 March at 31\o. Description April 21116 March 201" \pril 21)16 scar March 2017 21117 March 2)116

anzthie a„et,

lal reehnld I and 2111 JJu2 - - 21111.7112 - - - - '()11-7n2

(h) I and under de'.elopntent 1.3117.250 40.01111 - I.347.2511 - - - - 1.347.25)) 1.3(17,250

Total 1.50- .952 411.0011 - 1.^4".91;2 - - - I,c4 1952 1. 11 .') 2

I.42 7.')i2 K0.1h 1111C\oat, \eur 1.507 );_2

Sca\1 Ind Ins cstnicnt and I railing Company Limited

'Votes to the financial statements (('unforme'd)

a's ur.^/ ihrre/I :ul

((urrencs Indian RupeesI

31 March 2111' it March 2(11)'

8 Non - current im estrttents

Other nun - current insesttnents (Non-trade and tincli j oled)

Investments in equity shares

49.991, (prey sous sru 40.00i) Fyum shares of Rs l0 each tulle paid of Shadhak

nvesuncn(s and Irad rig Prnate I milted

5(18,934 5(18 9 34

(9.0(111 Ipresb us year 39,00011 -quits shares o1'Rs Ill each lulls paid of Inor

Medical Products Private Limited

3,127,8011 1.I'? S!)11

01(10 (previous sear 5.01(0) 1 tIMIy shares of Rs I)) each Rills pail ut Uu Airlines

tIndial Prrsate I united

111)1,11011 50,11(10

1.500 (previous sear (I Slit)) Fquits shares of Rs 10 each lulls paid of Karnla

I orttrtdc 1.111itted

315,110(1 15.000

75.0((0 (previous year T;.000) I quits shares of Ks It) each Culls paid of Medical

Micro I echnologs lint lied

376.11011 276.1100

4 99'11 pre%lous sear 4.9991 I quits shares of Ks Iu each tulle paid of \1SII

lllseSinien1S Limned

519,490 519,490

175 I I I'restotu Year 4751) 1 quits shares of Ks 1(81 each tull\ paid on Ilarsard

Planlauuns I invited

4-;. I O11 475,100

I'Sitl'revi„-lr.u ^lilyus.li,ire.,^tl: I^^^^eerslull,),u ivil'!asi,1

111.mt,nii 115 I ii Heel

Investments in 5"1., Non -( uu%ertihle Redeemahle Preference Shares t\( KIN

475,1011 475.100

I(0l)II 1prevwus yt:u .10000) N( IfI''s of K; iii each Of] utus Vnusog I'nsatc

I united400,1100 400.0((0

4000 (picsuuts sear 4011(1) NCRPS of Ks 101) each of Lima Investinent & I rading

Company Prnate I invited

4011,0110 10(1.1(1111

3751l(piesrous sear 3750) NCRPS of Ks 1110 each of(lncinnati Investment &

Trading Company Prnate I.nnned

375,0011 (75111)1)

3750 (prey oils sear 3751() NCRPS ut Ks 100 each ut Roshnara Investment &

Trading Company Pr sate Limited

375.1111(1 (11111

400)0 (prey sous sear 41)(H IM NCR PS ut Ks Pl eacti ul' Shadhak Investment &

Wading Company Private Limned

41111.111111 4t 8)-1100

4000 (prey ions dear 4t)1511 NCRPS of Ks 100 each of MSII. Investments Prnate

I muted411(1.111(0 4t-p.000

87500 (prey ious sear 87500) NCRPS of Ks ill each of I:psihon Medico Lquipment

Cumpans Prt%ate I milted

875,11(1(1 575,000

9, 122.424 , !'17_.42 1

The aggregate hook value and market value of quoted non-current nvest rents and Mirk value cif ungnoted non-current

noesiments are as lollosss

Aggregate hook value of quoted uscstrnent

Aggregate hook value of unquoted ins estmenl

Aggregate market value of quoted investment

'1,122,424 9.072.42-1

Sea\vind lmestment and Trading ('ompany Limited

Notes to the financial statements (Continued)

i1.% (11 I I/(//., /1 'nr -

ICLrrencv Indian Rupees)

Long- term loans and a(hances

(appal Ads ance

Advances Income Las :net of prov ision tilt tav Rs 6,52.0(111 (pies OUs veal Rsi82 1111(1);

31 Mark It 2111" ;I March 2016

2.351I,II1111 ^nl lO

2:1,6811 21_2 75i

2,5? 1.6811 ' .i62 ,7i

Ill Current im'esfrnents

Non-Trade ince%iment,

hlse,tincnn ni eg11Itl it trtunents (qu(Jted)

I I it I ( pros tou, sear I I HH I I Fqunc ,hares of Rs 0 each Fulls paid up of Industrial 95 4i

Imange Corporation of India I imited

it N l l pies Lou', seat 5001 [quits sha t cs of Rs 10 each fulls paid up of I antac 4,51111 4.50(1

Indust Ies I united

4,895 1 svi

I he aggregate hook value and niaiket value of quoted non-current Investments and book value of unquoted non-cur Ienl

inseslments are as tiilloss,

Aggregate book value of quoted investment 4,895

Aggregate hook salve of unquoted noestinent -

\tgregatc market calve ofquoted riwcstment 33."20 I > u35

( ash and bank balance

('ink amt cavii equn'aleur.i

Rulances with hanks

- ID current accounts 111,692 , i _i,S

6101,692 4 33,2hv

12 Short- term loans and advancesII iaecurrd.

Loans and advances to other than related parties 1,5 4 (I,Iili(I _ id 111.1 )1111

I pans and adsances to related parties

1.54(1,1111(1 2.61111-1(INI

13 Other( urrent \ssests

htteli•,t recciiahle 171,642 221.417

1'1.642 2_21,417


Notes to the financial statements (Continued)/„ rlr^ tca yr!^c! I .1 /,rr !r '01-

(Currency: Indian Rupees)

For the % car ended

31 March 201"

For the \car ended

31 March 221) 16

14 Other Operating income

I)ividend income - 250

Interest income 283,375 244,531

283.3'5 244,781

15 Other Expenses

Rates and taxes 2,501) 2.500

Legal and Professional 18,625 23,233

I fling Fees 1,600 1.200Payment to :Auditors 25,000 28,360Miscellaneous Fxpenses 160Bank Char.;es 2,351 3,156Denial Char,-,es 1,725 1.'111

4,81)1 60,319


Notes to the financial statements (Continue toliar the tear cW /(/ 31 Alurc•h ?U! -

(CurrencN : Indian rupees)

16. Micro, Small and Medium Enterprises

Based on the information and records available with the management. there are no dues

outstanding to micro and small enterprises covered under the Micro. Small and Medium

I .nterprises I)evelopment Act. 2006 as at 3 I March 2(17 and as at 31 March 2016.

17. Payment to auditors ' ( excludin g service tax)

Statutor\ audit Ice

Particular. for the year ended

31 March 2017

25,IItrl

fatal 25,11100

18. Earnings per share

I or the year ended ^31 March 2016

20.(H)O

20.000

Particular. 31 March 21117 31 March 2016

Net (loss) i profit attributable to cqtiil% shareholder 1,61,574 74,462

(a, per the statement of prolil and loss)

( alculation ofNcighled average number ofcquit.N shares

for basic and diluted earnings per share

Number- ofeyuits ,hare, at the he2innin2 ol'the scar 082 59 2

Number ofcyuitN shares at the end of the scar 5982 5982

N eighted average number of equit\ shares outstanding 5982 5982during the year

Basic and diluted earnings per eyu6 share of R, 1(I(1 each 27.0l 12. 451

Information as required in terns of paragraph 18 of Master Direction - Non-Banking Financial Company --Non-

stemically Important Non-Deposit takint, Con any ( Reserve Bank) Direction 2016

( Rs. In Lakhs )

Particulars Amount

Outstandin

Amount

Overdue

Liab ilities Side

(1) Loans & Advances availed by the NBFCs inclusive of Interest

accrued thereon but not paid - -

a) Debentures :Secured - -

:Unsecured - -

(Other than falling within the meaning of public deposits')

h) Deferred Credit - -c) Terns Loans - -

d) Inter Corporate Loans & Borrowin gs - -e) Commercial Paper - -

f) Public Deposits - -Other Loans (S ecif\ nature)

(2) Break-up of (I)(t) abo%e (Outstanding public deposits inclusiveof interest accrued thereon but not paid)

a) In the form of Unsecured debentures - -h) In the loon of artfy secured debentures i.e. debentures

where there is a shortfall in the value of security - -

e) Other public deposits - -

Asse ts Side

AmountOutstanding

(3) Break up of Loans and Advances including hills receivables [other than those includedin (is) belowl

a) Secured -

b) Unsecured 38.90

(4) Break up of Leased Assets and stock on hire and other assets counting towards AFCactivities

(i) Lease assets including lease rentals under Sund Debtors(a) Financial Lease -

(h) Operating Lease -

(ii) Stock on hire including hire charges under Sundry Debtors:(a) Assets on hire -

(h) Repossessed Assets -

(iii) Other loans counting towards AFC activities

(a) Loans where assets have been repossessed(h) Loans other than (a) aho\e -

19

(5) Break u p of Investments

Current Investments

Quoted

(i) Shares(a) I uity 0.05

(h) Preference -

(ii) Debentures & Bonds -

(iii) knits of'Mutual Funds -

(i%) Government Securities -

(v) O(hers (Please Specify) -

2 Unq uoted

(i ) Shares

(a) L uit -

(b) Preference -

(ii) Debentures & Bonds -(iii) Units ol'Mutual hinds -(n ) Government Securities -

(v) Others (Please ti evil) -

Lon Term Investments

I Q uoted •

(i) Shares

(a) F.(ult^ -

(h)Preterence -

(ii) Debentures & Bonds -

(iii) Units of Mutual Funds -(iv) Government Securities -

(v) Others (Please Secifv) -

2 Un uoted

(i) Shares(a) Equity 58.97(h) Preference 32.25

(ii) Debentures & Bonds -(iii) Units of Mutual Funds

(iv) Government Securities -

(s) Others (S ee i t\) -

(6) 11ornnver croup - wise classification of assets financed in (3) and (4) above

Categon Amount net of ro%isio n

Secured Unsecured TotalI. Related Parties'.

a) Subsidiaries - -

h) (ompanie, in the same group - I5.40 15.40c Other Related Parties - - -

2. ( )flier than Related Parties - 23.50 23.50TOTAL - 3K.yo 38.90

(7) Investors group - wise classification of all investments (Current and Long tern) in Shares and securities (both

quoted and unquoted)

Category Market value/

Break up or fair

value or NAV

Book Value

( Net of provision)

I. Related Parties"*

a) Subsidiaries - -

h) Companies in the same group 4 04 45.04

c) Other Related Parties - -

Other than Related Parties 43.52 41.2 3

TOTAL 91.56 91.27As per Accounting Standard of I('AI (Please see Note 3)

(8) Other Information

I 'art v a tar, Amount

(i) Gross Non - Perforttnnc Assets

(a) Related Partiest Ill ( )flier than Related Parties -

(ii) Net Non - Performing Assets

(a) Related Parties

(h) Other than Related Parties -

(iii) Assets Acquired in satisfaction ot'debt -

Note:

I As defined in point xix of paragraph 3 of Chapter -2 of these Directions.

2 Provisioning nouns shall he applicable as prescribed in these Directions.

3 All Accounting, Standards and Guidance Notes issued by I('AI are applicable including for valuation of

investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of

quoted investments and break up fair value NA\ in respect of unyuoted investments shall he disclosed

irrespective of whether they are classified as long tern or current in (5) above.


Notes to the financial statements (Continued)tar the year Aril[ i/ 3/ Mill-eh 20 1 -

(Currency Indian rupees)

20. Related party transactions

Related party and nature of the related party relationship where control exists, irrespective

ofwhether or not there ha\e been transactions between the related parties:

Iloldina (ompam:

the I;rnnha Hurncah I rading Corporalion I invited

%'sociate ( onipam:

Ilanard Plantation; I incited

Placid Plantations I imitcd

MSIL Investncents Private I incited

Shadhak lme.tnients & I rading Convpam I'ri%atc I invited.

Medical Mlicrotechnolop I.imilcd

Other Related parties

I olus Vini og I'rl\ate I imitcd

Roshnara Inestnu:nt & Trading ('ompam Private lunited

Cincinnati Imeslncenl Ar 1 rading Concpan^ I'rivatc I invited

I ima Inestncent X Trading Cnncpam Private Iincited

\1acrotil Imectments I incited.

LGo Airlines ( India) I invited

transactions with related party ha, a been set out as hclo-,s

Particulars 31 \larch 2017 3 1 March 2016

Imeslncents in I.quil\ Share. ofConcpam in the,anieGroup

5(1,111111

Interest received from Compam in the ;ante Group 99.406

Loans taken from I lolding Compam l,o(I(1.00I

I oan, repaid to I folding Conipan\ 1.111111.11110

I oans repa%menl from Cornpan% in the canto ( iroup 1 .21)0,000

I oan given to Concpam in the same ( iroup 2.4011,000I Daft given to Avsoci,uc ( oncp;mic' 2011 0()1)

Outstanding receivable from Compam in the same

14(1.111111.

( iroup 1,21)0,11110

21. Segment reporting

Based on guiding principles in the AS 17 - -Segment Reporting." the primary businesssegment of the Company is investments . As the Company operates in a single priniar\business segment, disclosure requirements are not applicable . There is no reportablesecondary segment.

tQ


Notes to the financial statements (Continued)for tiles t e-ar rnelr(l ? I .tlem h 2l)/

(Currency : Indian rupees)

22. Disclosure on Demonetization of Specified Bank Notes

Particular.tipccificd

Banl. Note.

Closin-, cash in hand as on 08" November. 2016

(+) Permitted receipts 1--

(-) Permitted payments - - -- --O Amount deposited in Banks

(-) Non-Permitted payments

(^) IOU

('losing cash in hand as on 30th December. _2016

23. Other information

I or and on behalf of the Board of Directors of

Sea N4ind Investment and Trading Company Limited

('1\- l'65 )')3M1-1I )88PLC017^6 1

Information %Nith regard to other matters specified in schedule III to the Companies Act.

2013, is either nil or not applicable to the Company for the year.

As per our report of even date attached.

For D. R . Kothari & Co.

( 7,017L re'd .1 -C-01rm,nits

Firm's Registration No: 105301 \4'

I). R. Kothari

Pro/)iii h'r

Membership No: 04337

MLill hai

Date: 2()''' • . 2017

Other

Denomination Total

Notes

11

Lt

N II Datam%ala R.laNshree

[)ir,eliu' I)ir, ctnr

DIN- 000-17544 DIN- 0008 1020

Mumhai Mumhai

Date : 2 0`" Mav . 2017 Date: 26" Mav. 2017

koth-ari co · standards specified under section 133 of the act, read with rule 7 of the companies...

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