By Himanshu V. Kishnadwala
Chartered Accountant
Qualified Limited Review report pending receipt of independent
investigation report for M&A and other financial statements related matters
INFIBEAM AVENUES LTD
From Notes to Statement of Standalone Unaudited
Results For The Quarter Ended 30th September, 2018
During the quarter ended 30th June, 2018, we were requested
by our statutory auditor ____ to perform an independent investigation in
relation to certain matters such as merger and acquisition and other financial
statements related matters. The Company has received report from an independent
firm of chartered accountants who were appointed to perform the investigation
which does not contain any material adverse observations. However, the auditors
have requested for detailed report, accordingly, prior period/year financial
results are as published for those respective periods. Pending which the
auditors have modified their limited review report for this matter.
From Statutory Auditors’ Limited Review Report
As explained in Note 3 to the financial results, during the quarter
ended 30th June, 2018, based on third party information, we had
requested management to perform an independent investigation in relation to
certain matters such as merger and acquisition and other financial statements
related matters. The prior period/year financial results are as published for
those respective periods and pending the receipt of the detailed report from
the Company, which we are informed is currently under preparation, we are
unable to comment on the impact, if any, on the prior period results and
consequential impact, if any, on the financial results for the quarter and six
months period ended 30th September, 2018.
Based on our review conducted as above, except for the possible effects
of the our observation in the paragraph 4 above, nothing has come to our
attention that causes us to believe that the accompanying Statement of
unaudited financial results prepared in accordance with recognition and
measurement principles laid down in the applicable Indian Accounting Standards
specified u/s. 133 of the Companies Act, 2013, read with relevant rules issued
thereunder and other recognised accounting practices and policies has not
disclosed the information required to be disclosed in terms of the Regulation, read
with the Circular, including the manner in which it is to be disclosed, or that
it contains any material misstatement.
Compilers’
Note: Similar disclosure and reporting was also done for the quarter ended
30th June, 2018.
