Mar 31, 2015
I have audited the accompanying financial statements of Aurum Soft
Systems Limited ("the Company"), which comprise the Balance Sheet as at
March 31, 2015, the Statement of Profit and Loss and 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 Management 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 these financial statements that give a true and fair
view and are free from material misstatement, whether due to fraud or
error.
Auditor's Responsibility
My responsibility is to express an opinion on these financial
statements based on my audit.
I 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
thereunder.
I conducted my audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those Standards require
that I 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 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 control relevant to the Company's preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
I believe that the audit evidence I have obtained is sufficient and
appropriate to provide a basis for my audit opinion on the financial
statements.
Opinion
In my opinion and to the best of my information and according to the
explanations given to me, 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 of affairs of the
Company as at March 31, 2015;
b. in the case of the Statement of Profit and Loss, of the Loss for
the year ended on that date; and
c. in the case of the Cash Flow Statement, of the 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 in terms of Section 143(11) of
the Act, I give in the Annexure a statement on the matters specified in
paragraphs 3 and 4 of the Order.
2. As required by section 143(3) of the Act, I report that:
a. I have obtained all the information and explanations which to the
best of my knowledge and belief were necessary for the purpose of my
audit;
b. in my opinion proper books of account as required by law have been
kept by the Company so far as appears from my examination of those
books;
c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. in my opinion, the aforesaid 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 written representations received from the directors
as on March 31, 2015, and taken on record by the Board of Directors,
none of the Director is disqualified as on March 31, 2015, from being
appointed as a Director in terms of Section 164(2) of the Act.
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 my opinion and to the best of my information and
according to the explanation given to me:
i. The Company has disclosed that the Company does not have any
pending litigations which will impact its financial position in its
financial statements.
ii. The Company has made provision for material foreseeable losses, if
any, as required under the applicable law or accounting standards, and
as required on long- term contracts.
iii. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
Company.
ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT
(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory
Requirements' section of my report of even date)
I. 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. The fixed assets have been physically verified during the year by
the management on a periodical manner, which in my 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.
II. The Company does not hold any physical inventories.
III. In respect of the unsecured loan granted by the Company to its
wholly owned subsidiary which is covered in the register maintained
under Section 189 of the Companies Act, 2013, the principal amount is
not overdue and the interest which is payable annually is overdue. The
Company has not granted any loans,
secured or unsecured, to any other companies, firms or other parties
covered in the Register maintained under Section 189 of the Act.
IV. In my opinion and according to the information and explanations
given to me, the Company has an adequate internal control system
commensurate with its size and the nature of its business for the
purchase of inventory and fixed assets and for the sale of services.
During the course of my audit, I have not observed any continuing
failure to correct major weaknesses in such internal control system.
V. According to the information and explanations given to me, the
Company has not accepted any deposit from the public. Therefore, the
provisions of Clause (v) of paragraph 3 of the Order are not applicable
to the Company.
VI. The provisions of clause (vi) of paragraph 3 of the Order are not
applicable to the Company as the Company is not covered by the
Companies (Cost Records and Audit) Rules, 2014.
VII. In respect of statutory dues:
a. According to the records of the Company, undisputed statutory dues
including Provident Fund, Employees' State Insurance, Income Tax, Sales
Tax, Wealth Tax, Service Tax, Cess and other material statutory dues
have been generally regularly deposited with the appropriate
authorities. According to the information and explanations given to me,
no undisputed amounts payable in respect of the aforesaid dues were
outstanding as at March 31, 2015 for a period of more than six months
from the date of becoming payable.
b. According to the records of the company and the information and
explanations given to me, there are no dues of sales tax, income tax,
customs duty, wealth tax, service tax, excise duty and cess which have
not been deposited with the appropriate authorities on account of any
dispute.
c. According to the records of the Company, there are no amounts that
are due to be transferred to the Investor Education and Protection Fund
in accordance with the relevant provisions of the Companies Act, 1956
(1 of 1956) and rules made there under.
VIII The accumulated losses of the Company do not exceed 50% of the
Networth of the Company as at the end of the financial year. The
Company has not incurred cash losses during the financial year covered
by the audit and in the immediately preceding financial year.
IX. In my opinion and according to the information and explanations
given to me, the Company has not availed any loan from Banks, Financial
Institutions or issued any debentures
X. According to the information and explanations given to me, the
company has not given any guarantee for loans taken by others from
banks or financial institutions.
XI. According to the information and explanations given to me, the
company has not availed any term loans.
XII. In my opinion and according to the information and explanations
given to me, no fraud by the Company and no material fraud on the
Company has been noticed or reported during the year.
Place : Chennai S. Ramanath
Date : May 30, 2015 Chartered Accountant
Membership No: 029416
Mar 31, 2014
I have audited the accompanying financial statements of Aurum Soft
Systems Limited ("the Company"), which comprise the Balance Sheet as at
March 31, 2014, the Statement of Profit and Loss and 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 Management is responsible for the preparation of these
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 Standards notified under the Companies
Act,1956 (the Act) read with the General Circular 15/2013 dated 13th
September, 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013 and in accordance with the
accounting principles generally accepted in India. This responsibility
includes the design, implementation and maintenance of internal control
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
My responsibility is to express an opinion on these financial
statements based on my audit. I conducted my audit in accordance with
the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that I 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 disclosures in the financial statements. 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. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
I believe that the audit evidence I have obtained is sufficient and
appropriate to provide a basis for my audit opinion.
Opinion
In my opinion and to the best of my information and according to the
explanations given to me, 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 of affairs of the
Company as at March 31, 2014;
(b) in the case of the Statement of Profit and Loss, of the Profit for
the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the 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, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, I give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, I report that:
a. I have obtained all the information and explanations which to the
best of my knowledge and belief were necessary for the purpose of my
audit;
b. in my opinion proper books of account as required by law have been
kept by the Company so far as appears from my examination of those
books;
c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. in my opinion, the Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards notified under
the Act read with the General Circular 15/2013 dated 13th September,
2013 of the Ministry of Corporate Affairs in respect of Section 133 of
the Companies Act, 2013.
e. on the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
Annexure to the Auditors'' Report:
The Annexure referred to in my report to the members of
Aurum Soft Systems Limited ("the Company") for the year
ended March 31, 2014. I report that:
1. The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. The
company has a regular program of physical verification of its fixed
assets. No material discrepancies were noticed on such verification.
2. The Company does not hold any physical inventories.
3. The company has not granted any loans to parties covered in the
register maintained under section 301 of the Companies Act, 1956. The
company has not taken any loans, secured or unsecured, to or from
companies, firms or other parties covered in the register maintained
under section 301 of the companies act, 1956.
4. In my opinion and according to the information and explanations
given to me, there is adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to purchase of fixed assets and the sale of services. The activities of
the company do not involve purchase of inventory and the sale of goods.
Further on the basis of my examination of the books and records of the
Company carried out in accordance with the auditing standards generally
accepted in India, and according to the information and explanations
given to me, I have neither come across nor have I been informed of any
continuing failure to correct major weaknesses in the internal control
system.
5. In my opinion, and according to the information and explanations
given to me, there are no contracts / arrangements, the parti culars of
which need to be entered into the register required to be maintained
u/s 301 of the Companies Act, 1956.
6. The Company has not accepted any deposits from the public during
the year and consequently, the directive issued by the Reserve Bank of
India and the provisions of Section 58A and 58AA of the Companies Act,
1956, and rules framed there under are not applicable.
7. The company has no internal audit department as such. However, its
control procedures ensure reasonable internal checking of its financial
and other records which is commensurate with the size and nature of its
business.
8. As per the information and explanation given to me, the company is
not required to maintain cost records as prescribed by the Central
Government under the section 209(1)(d) of the Companies Act, 1956 for
any of the services rendered by the company.
9. According to the information and explanations given to me and on the
basis of my examination of the books of account, the company, during
the year has been regular in depositing, undisputed statutory dues
including Provident Fund, Employees State Insurance, Income tax,
service tax, cess and other statutory dues, wherever applicable, with
the appropriate authorities.
According to the information and explanations given to me, no
undisputed amounts payable in respect of Provident Fund, Employees
State Insurance, Income tax, service tax, cess and other Statutory dues
were in arrears as at March 31, 2014 for a period of more than six
months from the date they became payable.
According to the records of the company and the information and
explanations given to me, there are no dues of sales tax, income tax,
customs duty, wealth tax, service tax, excise duty and cess which have
not been deposited with the appropriate authorities on account of any
dispute.
10. The company does not have any accumulated losses as at March 31,
2014 and has not incurred cash losses in the financial year and in the
immediately preceding financial year.
11. In my opinion and according to the information and explanations
given to me, the Company has not availed any loan from Banks, Financial
Institutions or issued any debentures.
12. In my opinion and according to the information and explanations
given to me, the company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and other
securities.
13. In my opinion and according to the information and explanations
given to me, the company is not a chit fund or a nidhi / mutual benefit
fund / society.
14. In my opinion and according to the information and explanations
given to me, the company has not deal in shares, securities, debentures
& other investments.
15. According to the information and explanations given to me, the
company has not given any guarantee for loans taken by others from
banks or financial institutions.
16. According to the information and explanations given to me, the
company has not availed any term loans.
17. In my opinion, the company has not raised any funds on short-term
basis.
18. The Company during the year has not made any preferential allotment
of shares to any party or companies covered in the register maintained
under section 301 of the Companies Act, 1956.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. During the course of my examination of the books and records of the
company, carried out in accordance with the generally accepted auditing
practices in India and according to the information and explanations
given to me, I have neither come across any instance of fraud on or by
the company, noticed or reported during the year under report nor have
I been informed of such case by the management.
Place: Chennai S. Ramanath
Date: May 30, 2014 Chartered Accountant
Membership No: 029416
Mar 31, 2013
Report on the Financial Statements
I have audited the accompanying fi nancial statements of Aurum Soft
Systems Limited ("the Company"), which comprise the Balance Sheet as at
March 31, 2013, the Statement of Profi t and Loss and Cash Flow
Statement for the year then ended and a summary of signifi cant
accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these fi nancial
statements that give a true and fair view of the fi nancial position,
fi nancial performance and cash fl ows of the Company in accordance
with the Accounting Standards referred to in sub-section (3C) of
section 211 of the Companies Act, 1956 ("the Act"). This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the fi nancial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor''s Responsibility
My responsibility is to express an opinion on these financial
statements based on my audit. I conducted my audit in accordance with
the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that I 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 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 control relevant to the Company''s preparation and
fair presentation of the fi nancial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the fi nancial
statements.
I believe that the audit evidence I have obtained is suffi cient and
appropriate to provide a basis for my audit opinion.
Opinion
In my opinion and to the best of my information and according to the
explanations given to me, the fi nancial 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 of affairs of the
Company as at March 31, 2013;
b. in the case of the Statement of Profi t and Loss, of the Profi t
for the year ended on that date; and
c. in the case of the Cash Flow Statement, of the cash fl ows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, I give in the Annexure a
statement on the matters specifi ed in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, I report that:
a. I have obtained all the information and explanations which to the
best of my knowledge and belief were necessary for the purpose of my
audit;
b. in my opinion proper books of account as required by law have been
kept by the Company so far as appears from my examination of those
books;
c. the Balance Sheet, Statement of Profi t and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. in my opinion, the Balance Sheet, Statement of Profi t and Loss,
and Cash Flow Statement comply with the Accounting Standards referred
to in sub- section (3C) of section 211 of the Companies Act, 1956; and
e. on the basis of written representations received from the directors
as on March 31, 2013, and taken on record by the Board of Directors,
none of the directors is disqualifi ed as on March 31, 2013, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
Annexure to the Auditors'' Report:
The Annexure referred to in my report to the members of Aurum Soft
Systems Limited ("the Company") for the year ended March 31, 2013. I
report that:
1. The Company has maintained proper records showing full particulars,
including quantitative details and situation of fi xed assets. The
company has a regular program of physical verifi cation of its fi xed
assets. No material discrepancies were noticed on such verifi cation.
2. The Company does not hold any physical inventories.
3. The company has not granted any loans to parties covered in the
register maintained under section 301 of the Companies Act, 1956. The
company has not taken any loans, secured or unsecured, to or from
companies, fi rms or other parties covered in the register maintained
under section 301 of the companies act, 1956.
4. In my opinion and according to the information and explanations
given to me, there is adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to purchase of fi xed assets and the sale of services. The activities
of the company do not involve purchase of inventory and the sale of
goods. Further on the basis of my examination of the books and records
of the Company carried out in accordance with the auditing standards
generally accepted in India, and according to the information and
explanations given to me, I have neither come across nor have I been
informed of any continuing failure to correct major weaknesses in the
internal control system.
5. In my opinion, and according to the information and explanations
given to me, there are no contracts / arrangements, the particulars of
which need to be entered into the register required to be maintained
u/s 301 of the Companies Act, 1956.
6. The Company has not accepted any deposits from the public during
the year and consequently, the directive issued by the Reserve Bank of
India and the provisions of Section 58A and 58AA of the Companies Act,
1956, and rules framed there under are not applicable.
7. The company has no internal audit department as such. However, its
control procedures ensure reasonable internal checking of its fi
nancial and other records which is commensurate with the size and
nature of its business.
8. As per the information and explanation given to me, the company is
not required to maintain cost records as prescribed by the Central
Government under the section 209(1)(d) of the Companies Act, 1956 for
any of the services rendered by the company.
9. According to the information and explanations given to me and on
the basis of my examination of the books of account, the company,
during the year has been regular in depositing, undisputed statutory
dues including Provident Fund, Employees State Insurance, Income tax,
service tax, cess and other statutory dues, wherever applicable, with
the appropriate authorities.
According to the information and explanations given to me, no
undisputed amounts payable in respect of Provident Fund, Employees
State Insurance, Income tax, service tax, cess and other Statutory dues
were in arrears as at March 31, 2013 for a period of more than six
months from the date they became payable.
According to the records of the company and the information and
explanations given to me, there are no dues of sales tax, income tax,
customs duty, wealth tax, service tax, excise duty and cess which have
not been deposited with the appropriate authorities on account of any
dispute.
10. The company does not have any accumulated losses as at March 31,
2013 and has not incurred cash losses in the fi nancial year and in the
immediately preceding fi nancial year.
11. In my opinion and according to the information and explanations
given to me, the Company has not availed any loan from Banks, Financial
Institutions or issued any debentures.
12. In my opinion and according to the information and explanations
given to me, the company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and other
securities.
13. In my opinion and according to the information and explanations
given to me, the company is not a chit fund or a nidhi / mutual benefi
t fund / society.
14. In my opinion and according to the information and explanations
given to me, the company has not dealt in shares, securities,
debentures and other investments.
15. According to the information and explanations given to me, the
company has not given any guarantee for loans taken by others from
banks or fi nancial institutions.
16. According to the information and explanations given to me, the
company has not availed any term loans.
17. In my opinion, the company has not raised any funds on short-term
basis.
18. The Company during the year has not made any preferential
allotment of shares to any party or companies covered in the register
maintained under section 301 of the Companies Act, 1956.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. During the course of my examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India and according to the information and
explanations given to me, I have neither come across any instance of
fraud on or by the company, noticed or reported during the year under
report nor have I been informed of such case by the management.
Place: Chennai S. Ramanath
Date: May 30, 2013 Chartered Accountant
Membership No: 029416
Mar 31, 2012
1. I have audited the attached Balance Sheet of M/s Aurum Soft Systems
Limited (the company) as at March 31, 2012, the Profit and Loss Account
and also the Cash Flow Statement for the year ended on that date,
annexed thereto, which I have signed under reference to this report.
These financial statements are the responsibility of the company's
management. My responsibility is to express an opinion on these
financial statements based on my audit.
2. I have conducted the audit in accordance with auditing standards
generally accepted in India. Those standards require that I plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by the management, as well as evaluating the overall financial
statement presentation. I believe that my audit provides a reasonable
basis for my opinion.
3. As required by the Companies (Auditor's Report) Order, 2003, issued
by the Central Government of India in terms of sub-section (4A) of
Section 227 of the Companies Act, 1956, as amended from time to time, I
enclose in the Annexure hereto a statement on the matters specified in
paragraphs 4 and 5 of the said order.
4. Further to my comments in the Annexure referred to in paragraph 3
above, I report that:
a. I have obtained all the information and explanations which to the
best of my knowledge and belief were necessary for the purposes of my
audit;
b. In my opinion, proper books of account as required by law have been
kept by the company so far as appears from my examination of those
books;
c. The Balance Sheet, the Profit and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account;
d. In my opinion, the Balance sheet and the Profit and Loss account
and Cash Flow Statement dealt with by this report are in compliance
with the Accounting Standards referred to in sub-section (3C) of
section 211 of the Companies Act, 1956;
e. On the basis of written representations received from the directors
and taken on record by the Board of Directors, none of the Directors is
disqualified as on March 31, 2012 from being appointed as a director
under clause (g) of sub-section (1) of section 274 of the Companies
Act, 1956;
f. In my opinion and to the best of my information and according to
the explanations given to me, they said accounts together with
Significant Accounting Policies and Notes thereon give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India;
i. in the case of the Balance Sheet, of the state of affairs of the
company as at 31st March, 2012;
ii. in the case of the Profit and Loss account, of the profit for the
year ended on that date, and
iii. in the case of the Cash Flow Statement, of the cash flows of the
company for the year ended on that date.
Place: Chennai R.R.Rajkumar
Date: 14th August 2012 Chartered Accountant
M.No: 209877
Annexure to the Auditors' Report:
The Annexure referred to in the auditors' report to the members of
Aurum Soft Systems Limited (the Company) for the year ended March 31,
2012. I report that:
1. The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets. The
company has a regular program of physical verification of its fixed
assets. No material discrepancies were noticed on such verification.
2. The Company does not hold any physical inventories.
3. The company has not granted any loans to parties covered in the
register maintained under section 301 of the Companies Act, 1956. The
company has not taken any loans, secured or unsecured, to or from
companies, firms or other parties covered in the register maintained
under section 301 of the companies act, 1956.
4. In my opinion and according to the information and explanations
given to me, there is adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to purchase of fixed assets and the sale of services. The activities of
the company do not involve purchase of inventory and the sale of goods.
Further on the basis of my examination of the books and records of the
Company carried out in accordance with the auditing standards generally
accepted in India, and according to the information and explanations
given to me, I have neither come across nor have I been informed of any
continuing failure to correct major weaknesses in the internal control
system.
5. In my opinion, and according to the information and explanations
given to me, there are no contracts / arrangements, the particulars of
which need to be entered into the register required to be maintained
u/s 301 of the Companies Act, 1956.
6. The Company has not accepted any deposits from the public during
the year and consequently, the directive issued by the Reserve Bank of
India and the provisions of Sec 58A and 58AA of the Companies Act,
1956, and rule framed there under are not applicable.
7. The company has no internal audit department as such. However, its
control procedures ensure reasonable internal checking of its financial
and other records which commensurate with the size and nature of its
business.
8. As per the information and explanation given to me, the company is
not required to maintain cost records as prescribed by the Central
Government under the section 209(1 )(d) of the Companies Act, 1956 for
any of the services rendered by the company.
9. According to the information and explanations given to me and on
the basis of my examination of the books of accounts, the company,
during the year has been regular in depositing, undisputed statutory
dues including Provident Fund, Employees State Insurance, Income tax,
service tax, cess and other statutory dues, wherever applicable, with
the appropriate authorities. According to the information and
explanations given to me, no undisputed amounts payable in respect of
Provident Fund, Employees State Insurance, Income tax, service tax,
cess and other Statutory dues were in arrears as at 31st March 2012 for
a period of more than six months from the date they became payable.
According to the records of the company and the information and
explanations given to me, there are no dues of sales tax, income tax,
customs duty, wealth tax, service tax, excise duty and cess which have
not been deposited with the appropriate authorities on account of any
dispute.
10. The company does not have any accumulated losses as at 31st March,
2012 and has not incurred cash losses during the financial year ended
on that date. The company has not incurred cash losses in the financial
year and in the immediately preceding financial year.
11. In my opinion and according to the information and explanations
given to me, the Company has not availed any loan from Banks, Financial
Institutions or issued any debentures.
12. In my opinion and according to the information and explanations
given to me, the company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and other
securities.
13. In my opinion and according to the information and explanations
given to me, the company is not a chit fund or a nidhi / mutual benefit
fund / society.
14. In my opinion according to the information and explanations given
to me, the company has not deal in shares, securities, debentures &
other investments.
15. According to the information and explanations given to me, the
company has not given any guarantee for loans taken by others from
banks or financial institutions.
16. According to the information and explanations given to me, the
company has not taken any term loans.
17. In my opinion, the company has not raised any short term funds.
18. The Company during the year has not made any preferential
allotment of shares to any party or companies covered in the register
maintained under section 301 of the Companies Act, 1956.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. During the course of my examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India and according to the information and
explanations given to me, I have neither come across any instance of
fraud on or by the company, noticed or reported during the year under
report nor have I been informed of such case by the management.
Place: Chennai R.R.Rajkumar
Date: 14th August 2012 Chartered Accountant
M.No: 209877
Mar 31, 2010
1. I have audited the atached Balance Sheet of M/s Aurum Sof Systems
Limited (the company) as at March 31, 2010, the Proft and Loss Account
and also the Cash Flow Statement for the year ended on that date,
annexed thereto, which I have signed under reference to this report.
These fnancial statements are the responsibility of the companyÃs
management. My responsibility is to express an opinion on these
fnancial statements based on my audit.
2. I have conducted the audit in accordance with auditing standards
generally accepted in India. Those standards require that I plan and
perform the audit to obtain reasonable assurance about whether the
fnancial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the fnancial statements. An audit also includes
assessing the accounting principles used and signifcant estmates made by
the management, as well as evaluating the overall fnancial statement
presentaton. I believe that my audit provides a reasonable basis for my
opinion.
3. As required by the Companies (AuditorÃs Report) Order, 2003, issued
by the Central Government of India in terms of sub-secton (4A) of
Secton 227 of the Companies Act, 1956, as amended from tme to tme, I
enclose in the Annexure hereto a statement on the maters specifed in
paragraphs 4 and 5 of the said order.
4. Further to my comments in the Annexure referred to in paragraph 3
above, I report that:
(a) I have obtained all the informaton and explanatons which to the
best of my knowledge and belief were necessary for the purposes of my
audit;
(b) In my opinion, proper books of account as required by law have been
kept by the company so far as appears from my examinaton of those
books;
(c) The Balance Sheet, the Proft and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account;
(d) In my opinion, the Balance sheet and the Proft and Loss account and
Cash Flow Statement dealt with by this report are in compliance with
the Accounting Standards referred to in sub-secton (3C) of secton 211 of
the Companies Act, 1956;
(e) On the basis of writen representatons received from the directors
and taken on record by the Board of Directors, none of the Directors is
disqualifed as on March 31, 2010 from being appointed as a director
under clause (g) of sub-secton (1) of secton 274 of the Companies Act,
1956;
(f) In my opinion and to the best of my informaton and according to the
explanatons given to me, the said accounts together with Signifcant
Accounting Policies and Notes thereon give the informaton required by
the Companies Act, 1956, in the manner so required and give a true and
fair view in conformity with the accounting principles generally
accepted in India;
(i) in the case of the Balance Sheet, of the state of afairs of the
company as at 31st March, 2010;
(ii) in the case of the Proft and Loss account, of the loss for the
year ended on that date, and
(iii) in the case of the Cash Flow Statement, of the cash fows of the
company for the year ended on that date.
Annexure to the Auditors Report
The Annexure referred to in the auditors report to the members of
Aurum Sof Systems Limited (the Company) for the period ended March 31,
2010. I report that:
1. The Company has maintained proper records showing full partculars,
including quanttatve details and situaton of fxed assets. The company
has a regular program of physical verifcaton of its fxed assets. No
material discrepancies were notced on such verifcaton.
2. The Company is primarily rendering IT Solutons & Consulting
services. The company does not hold any physical inventories.
3. The company has not granted any loans to partes covered in the
register maintained under secton 301 of the Companies Act, 1956. The
company has not taken any loans, secured or unsecured, to or from
companies, frms or other partes covered in the register maintained
under secton 301 of the companies act, 1956.
4. In my opinion and according to the informaton and explanatons given
to me, there is adequate internal control system commensurate with the
size of the company and the nature of its business with regard to
purchase of fxed assets and the sale of services. The actvites of the
company do not involve purchase of inventory and the sale of goods.
Further on the basis of my examinaton of the books and records of the
Company carried out in accordance with the auditing standards generally
accepted in India, and according to the informaton and explanatons
given to me, I have neither come across nor have I been informed of any
continuing failure to correct major weaknesses in the internal control
system.
5. In my opinion, and according to the informaton and explanatons
given to me, there are no contracts / arrangements, the partculars of
which need to be entered into the register required to be maintained
u/s 301 of the Companies Act, 1956.
6. The Company has not accepted any deposits from the public during
the year and consequently, the directve issued by the Reserve Bank of
India and the provisions of Sec 58A and 58AA of the Companies Act,
1956, and rule framed there under are not applicable.
7. The company has no internal audit department as such. However, its
control procedures ensure reasonable internal checking of its fnancial
and other records which commensurate with the size and nature of its
business.
8. As per the informaton and explanaton given to me, the company is
not required to maintain cost records as prescribed by the Central
Government under the secton 209(1) (d) of the Companies Act, 1956 for
any of the services rendered by the company.
9. According to the informaton and explanatons given to me and on the
basis of my examinaton of the books of accounts, the company, during
the year has been regular in depositing, undisputed statutory dues
including Income tax, sales tax, service tax, customs duty, cess and
other material statutory dues, wherever applicable, with the
appropriate authorites.
According to the records of the company and the informaton and
explanatons given to me, the following are the partculars of disputed
dues on account of income tax that have not been deposited as on
31.3.10:
Name of the Statute : Income Tax Act, 1961
Nature of Due : Income Tax
Amount : Rs 4.99 lacs
Period to which amount relates : 1996 Ã 1997
Forum where dispute pending : CIT ( Appeals )
According to the records of the company and the informaton and
explanatons given to me, there are no dues of sales tax, wealth tax,
service tax, customs duty, excise duty and cess which have not been
deposited with the appropriate authorites on account of any dispute.
According to the informaton and explanatons given to me, no undisputed
amounts payable in respect of sales tax, wealth tax, service tax,
customs duty, excise duty and cess were in arrears as at 31st March
2010 for a period of more than six months from the date they became
payable.
10. The company does not have any accumulated losses as at 31st March,
2010 and has incurred cash losses during the fnancial year ended on
that date. The company has not incurred cash losses in the immediately
preceding fnancial year.
11. In my opinion and according to the informaton and explanatons
given to me, the Company has not availed any loan from Banks, Financial
Insttutons or issued any debentures.
12. In my opinion and according to the informaton and explanatons
given to me, the company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and other
securites.
13. In my opinion and according to the informaton and explanatons
given to me, the company is not a chit fund or a nidhi / mutual beneft
fund / society.
14. In my opinion according to the informaton and explanatons given to
me, the company is maintaining proper records of the transacton and
contracts about the dealings in securites & investments and has made
tmely entries in records. The shares, securites, debentures and other
securites wherever applicable have been held by the company in its own
name.
15. According to the informaton and explanatons given to me, the
company has not given any guarantee for loans taken by others from
banks or fnancial insttutons.
16. According to the informaton and explanatons given to me, the
company has not taken any term loans.
17. In my opinion, the company has not raised any short term funds.
18. The Company during the year has not made any preferental allotment
of shares to any party or companies covered in the register maintained
under secton 301 of the Companies Act, 1956.
19. The Company has not issued any debentures during the year.
20. The Company has not raised any money by public issue during the
year.
21. During the course of my examinaton of the books and records of the
company, carried out in accordance with the generally accepted auditing
practces in India and according to the informaton and explanatons given
to me, I have neither come across any instance of fraud on or by the
company, notced or reported during the year under report nor have I
been informed of such case by the management.
Place: Chennai R.R.RAJKUMAR
Date: 14th August 2010 Chartered Accountant
M.No: 209877