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Auditor Report of Emed.com Technologies Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of M/S. EMED.COM TECHNOLOGIES LIMITED which comprise the Balance Sheet as at 31st March, 2014 and the Statement of the Profit & Loss and Cash Flow Statement for the period then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements:

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. 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:

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on

Auditing issued by the Institute of Chartered Accountants of India.

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 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.

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

Opinion:

In our opinion and to the best of our information and according to the explanations given to us, 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 Profit and Loss Account, 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 the sub-section(4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of Order.

2. As required by section 227 (3) of the Act, we report that:

a) We have 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 appears from our examination of those books;

c) The Balance Sheet, Profit & Loss Account, and the Cash Flow Statement dealt with by this report are in agreement with the books of account:

d) In our opinion, the Balance Sheet, Profit & Loss Account and the Cash flow Statement comply with the Accounting standards notified under the Companies Act, 1956 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 31st March, 2014 and taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 20.14 from being appointed director in terms of clause(g) of sub-section(1) of section 274 of Companies Act, 1956.

ANNEXURE TO THE AUDITORS'' REPORT

I. COMPANY''S PHILOSOPHY ON CODE OF GOVERNANCE:

a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

c) The company has not disposed off substantial part of the fixed assets during the year.

II.

a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

b) In our opinion, the procedures if the physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

III.

a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other parties covered in the register maintained under section 301 of Companies Act, 1956.

b) As the Company has not granted any loans, the Clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under Section 301 prejudicial to the interest of the company, is not applicable.

c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties is not applicable to the company.

d) No loans have been granted to Companies, Firms & other parties listed in the register U/s. 301 of the Companies Act, 1956, Hence, overdue Amount of more than rupees one Lac does not arise and the clause is not Applicable.

e) The Company has not taken any loans, secured or unsecured from Companies, Firms or other parties covered in the register maintained U/s.301 of the Companies Act, 1956.

f) As the Company has not taken any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties is not applicable to the company.

IV. In our opinion and according to the information and explanations given to us, there are generally adequate internal control systems commensurate with the size of company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services.

There is no continuing failure by the company to correct any major weaknesses in internal control.

V.

a) In our opinion and according to the information and explanation given to us, since no contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the company in respect of any party in the financial year, the entry in the register U/s. 301 of the Companies Act, 1956 does not arise.

b) According to the information and explanations give to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price having regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

VII. In our opinion, the company is having internal audit system, commensurate with its size and nature of its business.

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX.

a) The Company Is regular in depositing statutory dues including Income Tax, Cess & Other statutory dues with the appropriate authorities and at the end of last financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

b) According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, Cess and any other statutory dues as at the end of the period, for a period more than six months from the date they became payable.

X. The company has been registered for a period of not less than 5 years, and the Company has accumulated losses at the end of the financial year and the Company has incurred cash losses during the current financial year and no cash losses were incurred in the immediately preceding financial year.

XI. According to information and explanations given to us, the Company has not taken any loans from Banks or Financial Institutions. Hence this Clause of repayment of dues to financial institutions or banks or debenture holders and defaulted payment there in is not applicable to the company.

XII. According to the information and explanations given to us, the company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures and other securities and hence the applicability of the clause regarding maintenance of adequate documents in respect of loans does not arise.

XIII. This clause is not applicable to this company as this company is not covered by the provisions of special status applicable to Chit Fund in respect of Nidhi I Mutual Benefit Fund / Societies.

XIV. According to the information and explanations given to us. the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditor''s Report) order 2003, are not applicable to the company.

XV. According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the company has not taken any Term Loans, so the application for the purpose for which such loans were obtained does not arise.

XVII. According to the information and explanations given to us, no funds are raised by the company on short-term basis. Hence the clause of short term funds being used for long-term investment does not arise.

XVIII. According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does not arise.

XIX. According to the information and explanations given to us, the company does not have any debentures and hence the applicability of the clause regarding the creation or security or charge in respect of debentures issued does not arise.

XX. According to information and explanations given to us, the company has not raised money by way of public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by public issue is not applicable.

XXL According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year under audit.

For, Arpan Chudgar & Associates Chartered Accountants

FRN: 133877W Sd/- (CA. Arpan Chudgar) Proprietor M. No. 131876

Place: Ahmedabad Date: 29.05.2014


Mar 31, 2013

We have audited the accompanying financial statements of M/S. EMED.COM TECHNOLOGIES LIMITED which comprise the Balance Sheet as at 31 st March, 2013 and the Statement of the Profit & Loss and Cash Flow Statement for the period then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements:

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 referred to in sub-section (3C) of section 201 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 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 conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. 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 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.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion:

In our opinion and to the best of our information and according to the explanations given to us, 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, 2013.

(b) In the case of the Profit and Loss Account, loss for the year ended on that date; and

(c) In the case of the Cash Row 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 the sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of Order.

2. As required by section 227 (3) of the Act, we report that:

(a) We have 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 appears from our examination of those books;

(c) The Balance Sheet, Profit & Loss Account, and the Cash Flow Statement dealt with by this report are in agreement with the books of account:

(d) In our opinion, the Balance Sheet, Profit & Loss Account and the Cash flow Statement comply with the Accounting standards referred to in sub-section (3C) of section 211 of Companies Act, 1956;

(e) On the basis of written representations received from the Directors, as on 31 st March, 2013 and taken on record by the Board of Directors, none of the Directors is disqualified as on 31 st March, 2013 from being appointed director in terms of clause(g) of sub-section(l) of section 274 of Companies Act, 1956.

ANNEXURE TO THE AUDITORS'' REPORT

I. COMPANY''S PHILOSOPHY ON CODE OF GOVERNANCE:

a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

(c) The company has not disposed off substantial part of the fixed assets during the year.

II. a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) In our opinion, the procedures if the physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

III. a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other parties covered in the register maintained Under section 301 of Companies Act, 1956.

(b) As the Company has not granted any loans, the Clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under Section 301 prejudicial to the interest of the company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s. 301 of the Companies Act, 1956, Hence, over due Amount of more than rupees one Lac does not arise and the clause is not Applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies, Firms or other parties covered in the register maintained U/s.301 of the Companies Act, 1956.

(f) As the Company has not taken any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties is not applicable to the company. ''

IV. In our opinion and according to the information and explanations given to us, there are generally adequate internal control systems commensurate with the size of company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services. There is no continuing failure by the company to correct any major weaknesses in internal control.

V. a) In our opinion and according to the information and explanation given to us, since no contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the company in respect of any party in the financial year, the entry in the register U/s. 301 of the Companies Act, 1956 does not arise.

(b) According to the information and explanations give to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price having regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

VII. In our opinion, the company is having internal audit system, commensurate with its size and nature of its business.

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX. a) The Company is regular in depositing statutory dues including Income Tax, Cess & Other statutory dues with the appropriate authorities and at the end of last financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

(b) According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, Cess and any other statutory dues as at the end of the period, for a period more than six months from the date they became payable.

X. The company has been registered for a period of not less than 5 years, and the Company has accumulated losses at the end of the financial year and the Company has incurred cash losses during the current financial year and no cash losses were incurred in the immediately preceding financial year.

XI. According to information and explanations given to us, the Company has not taken any loans from Banks or Financial Institutions. Hence this Clause of repayment of dues to financial institutions or banks or debenture holders and defaulted payment there in is not applicable to the company.

XII. According to the information and explanations given to us, the company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures and other securities and hence the applicability of the clause regarding maintenance of adequate documents in respect of loans does not arise.

XIII. This clause is not applicable to this company as this company is not covered by the provisions of special status applicable to Chit Fund in respect of Nidhi / Mutual Benefit Fund / Societies.

XIV. According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditor''s Report) order 2003, are not applicable to the company.

XV. According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the company has not taken any Term Loans, so the application for the purpose for which such loans were obtained does not arise.

XVII. According to the information and explanations given to us, no funds are raised by the company on short-term basis. Hence the clause of short term funds being used for long-term investment does not arise.

XVIII. According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does not arise.

XIX. According to the information and explanations given to us, the company does not have any debentures and hence the applicability of the clause regarding the creation or security or charge in respect of debentures issued does not arise.

XX. According to information and explanations given to us, the company has not raised money by way of public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by public issue is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year under audit.

For P Murali & Co.,

Chartered Accountants

FRN No.: 007257S

Sd/-

Place: Hyderabad M.V.Joshi

Date : 23.05.2013 Partner

Membership No. 24784


Mar 31, 2010

We have audited the all attached Balance Sheet of EMED. COM TECHNOLOGIES LIMITED as at 31st March, 2010 end also the Profit & Loss Account for the penned ended on that date. these annexed there to and the cash flow statement for the period ended on that date. These financial statements are the responsibility of ten Company's Management Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financed statement. An audit also includes assessing the accounting principal used and significant estimates made by management as well as evaluating the overall statement presentation We believe that our aridity provides a reasonable basis of our opinion

As required by the Companies (Auditor's report) order 2003 and as amended by the Companies (Auditor's report) (Amendment) order 2004. issued by the of central Government of India In terms of the sub-section 4(A) of section 227 of the Compares Act.1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of The said order.

Further to our comments In the annexure referred to above, we report that;

(i) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

(ii) In our opinion, proper books of account as required by law have been kept by me company so far as appears from nor examination of those books;

(iii) The balance Sheet, profit & Loss Account and the Cash flow Statement dealt with by this report are In agreement with the books of account:

(iv) In our opinion, the Balance Sheet, Profit & Loss Account and the Cash flow Statement dealt with by this report comply with the Accounting standards referred to in sub- section (S3C) of section 211 of Companies Act, 1956;

(v) On the basis of written representations received from the Directors, as on 31st March 2010 and taken or record by the Board of Directors, we report that none of the Directors is Disqualified as on 31- March, 2010 from being appointed Director In terms of clause{g) of sub-section(1) of section 274 of Companies Act, 1956:

(vi) In our opinion and to the best of our information and according to 1he explanations given to us, the said accounts 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;

(a) In the case of toe balance sheet of the state of affairs of the Company as at 31st March. 2010:

(b) In the case of the Profit & Loss Account, of the Profit for the period ended on that date; and

And

(c) In the case of the Cash Flow, of the cash flows for the year ended on that date;

For PMURALI & CO. CHARTERED ACCOUNTANTS

FRN : 007257S

P. Mural Mohan Road

PLACE : HYDERABAD PARTNER

DATE: 02/09/2010 Membership No 23412

 
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