Board Meeting Details
The Board of Directors meeting was held on March 20, 2017, commencing at 04:00 PM and concluding at 05:00 PM.
Key Decision Approved
The Board considered and approved the unaudited financial results of the Company for the quarter/period ended December 31, 2016.
Financial Results Overview (Quarter Ended December 31, 2016)
The unaudited financial results show:
- Employee benefits expense: ₹27,000
- Other expenses: ₹49,936
- Total Expenses: ₹76,935
- Net Loss for the period: ₹(76,935) [in lacs]
- The results indicate consistent losses across all reported periods
Accounting Framework
The financial results have been prepared in compliance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013. The Company adopted Ind AS for the financial year commencing from April 1, 2016.
Auditor's Limited Review Report
P.D. Agrawal & Co., Chartered Accountants (Firm Registration No.: 077468) conducted a limited review of the unaudited financial results. Their report dated March 20, 2017, states:
- Review conducted in accordance with Standard on Review Engagement (SRE) 2410
- Provides moderate assurance that financial statements are free of material misstatement
- Nothing came to their attention indicating non-compliance with Ind AS or material misstatement
- They were not engaged to review comparative figures including reconciliation to Total Comprehensive Income
Notes to Financial Results
1. The results were reviewed by the Audit Committee and approved by the Board of Directors
2. Previous period figures have been regrouped where necessary to conform to current year classification
3. The Company is engaged in one business segment only
4. EPS calculations follow AS-20 issued by ICAI