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Auditor Report of Funny Software Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of FUNNY SOFTWARE LIMITED ("the Company). Which comprise the balance sheet as at 31st March 2014, 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

Management is responsible for the preparation of these financial statements that give true and fair view of the financial position, financial performance and cash flows of the company in accordance with accounting standard referred to in sub section (3G) of section 211 of companies Act 1956 ("the Act") read with the General Circular 15/2013 dated 13 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 maintenances of internal control relevant to the preparation and presentation of 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 accountant 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 statement 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 statement 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 the 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 explanation 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 balance sheet, the state of affairs of the company as at March 31, 2014,

(b) the case of 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 of the company 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 section227 of the Act, we give in the annexure a statement on the matters specified in paragraphs 4 and 5 of the order.

2. As required by the 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 purpose of the audit.

(b) In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(c) The balance sheet, the statement of profit and loss 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, statement of profit and loss, and the cash flow statement comply with the accounting standards referred to in sub-section (3C)of section 211 of companies act 1956 read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013.

(e) On the basis of written representation received from the directors as on 31st march 2013, and taken on record by the board of directors, none of the directors is disqualified as on 31st March 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of Companies Act, 1956.

(f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

(ANNEXURE TO THE AUDITORS REPORT)

1. (a) The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets.

(b) According to the information and expiations given to us, the company has formulated a regular program me of verification by which all the assets of company shall be verified in a phased manner, which in my opinion, is reasonable having regard to the size of the company and nature of its assets. To the best of my knowledge, no material misstatement is noticed on verification conducted during the year as compared with the book records.

(c) There was no disposal during the year of fixed assets.

2. (a) The company does not have any Inventories during the year, therefore clauses (b) and (c) are not applicable.

3. The company has not taken/granted any loans secured or unsecured from companies, firms or other parties listed in the register maintained u/s 301 of the companies act 1956 in terms of subsection (6) of the section 370 of the companies act, 1956 the provisions of the section are not applicable to a company on or after the commencement of the companies (amendment) act, 1999.

4. In respect of loans & advances, the company in the nature of advances given by the company, the parties are generally re-paying the principal amount as stipulated and have also been regular in paying of interest where applicable.

5. In our opinion and according to the information and explanation given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business with regard to purchase of inventory, fixed assets and with regard to the sales of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

6. Based on the audit procedures applied by us and according to the information and explanation provided by the management, we are of the opinion that there are no transactions that need to be entered into the registers management under section 301 of the Companies Act, 1956.

7. The company has not accepted any deposit from the public. Therefore the provisions of Section 58A, & 58AA of the Companies Act, 1956, and the Rules framed there under do not apply.

8. In our opinion, the company has an internal audit system commensurate with the size and nature of its business.

9. To the best of our knowledge and according to the information given to us, the Central Government has not prescribed the maintenance of cost records under section 209(1) (d) of the Companies Act, 1956 for the company.

10. (a) According to the books and records as produced and examined by us in accordance with generally accepted auditing practices in India and also based on management representations the provident funds Act and employees state insurance Act is not applicable to the company, undisputed statutory dues in respect of income tax and other material statutory dues have generally been regularly deposited by the company during the year with the appropriate authorities in India.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth-tax, sales tax, customs and excise duty were outstanding , as at 31st March, 2013 for a period of more than six months from the date they become payable.

(c) According to the records of the company, there are no dues of sales tax, income tax, customs tax/ wealth tax, excise duty/ cess which have not been deposited on account of any dispute.

11. The company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures &i other similar securities.

12. According to the information and explanation given to us the company has not given any guarantee for loan taken by other from banks or financial institutions.

13. According the information and explanation given to us and as shown by the records examined by us there were no dues payable to financial institutions or banks.

14. The company has not taken any term loan during the year.

15.In our opinion, the company is not a chit fund or a nidhi, mutual benefit fund or society therefore the provision of clause 4 (xiii) of the companies (Auditor's report) Order 2003 are not applicable to the company.

16. Based on the information and explanation given to us and on an overall examination of the books of accounts as on 31.03.2014, we report that no funds raised on short term basis have used for long- term investments by the company and vice versa.

17. Based on the audit procedure performed and the information and explanation given to us by the management we report that the company has made any preferential allotment of shares during the year however it is not prejudicial to the company.

18. The company has no outstanding debentures during the period under audit.

19. As per the information and explanation given to us and on the basis of examination of records, no material fraud on or by the company was noticed or reported during the year.

For Mrigank Raj & Associates Chartered Accountants

(CA Mrigank Rai) Partner

FRN: 023818N M.No.: 517684

Place: New Delhi Date:


Mar 31, 2011

1. We have audited the attached Balance Sheet of M/s Funny Software Private Limited as at 31st March'2011 and the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these statements based on our audit.

2. We conduct our audit in accordance with the 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 from any 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 management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956 and on the basis of such checks as were considered appropriate and according to information and explanations given to us, we enclose in the annexure a statement on the matters specified in paragraph 4 & 5 of the said order.

4. Further 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 purpose of our audit.

(b) In our opinion, proper books of account as required by the law have been kept by the Company so far as appears from our examination of such books.

(c) The Balance Sheet and the Profit & Loss Account dealt with by the report are in agreement with the books of account.~

(d) In our opinion, the Balance Sheet and the Profit & Loss Account of the Company generally comply with the mandatory accounting standards referred to in Section 211(3C) of the Companies Act, 1956.

(e) As informed and explained to us none of the director are disqualified from being appointed as director under Section 274(1 )(g) of the Companies Act, 1956;

(f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read 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:-

(I) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March'2011 and

(II) in the case of the Profit & Loss Account, of the NIL position for the year ended on that date.

ANNEXURE TO THE AUDITOR'S REPORT (Re : FUNNY SOFTWARE PRIVATE LIMITED)

(Referred to in paragraph 3 of our report of even date)

1. The Company does not have any fixed assets and hence, provisions of Clause (i) of Paragraph 4 of the Companies ( Auditor's Report ) Order, 2003 are not applicable to Company.

2. The Company does not have any inventory and hence, provisions of Clause (ii) of Paragraph 4 of the Companies ( Auditor's Report ) Order, 2003 are not applicable to Company.

3. The Company has not granted or taken any loan, secured or unsecured to / from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. According, Clause (iii) of Paragraph 4 of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company.

4. In our opinion, and according to the information and explanations given to us, there is an internal control system commensurate with the size of the Company and nature of its business for investments and its disposal. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of particulars of contracts or arrangements and transactions entered in the register maintained in pursuance of section 301 of the Companies Act, 1956;

(a) To the best of our knowledge and belief and according to the information and explanations given to us, particulars of contracts or arrangements that need to be entered into the register have been so entered.

(b) According to the information and explanations given to us, these contracts or arrangements, if any, have been made at prices which are reasonable having regards to the prevailing market prices at the relevant time.

6. According to the records of the Company and to the best of our knowledge and according to the information and explanations given to us, the Company has not accepted any deposits from the public. Accordingly, provision of Clause (vi) of Paragraph 4 of the Companies ( Auditor's Report) Order, 2003 are not applicable to the Company.

7. In our opinion and according to the information and explanations given to us, the Company has an integral audit system commensurate with the size and nature of its business.

8. According to the information and explanation given to us, the Company has not prescribed maintenance of cost records under clause (d) of sub section 209 of the Companies Act, 1956 for the nature of business of the Company and hence, we are not required to comment in regard to maintenance of such records.

9. In respect of statutory and other dues :

(a) According to the records of the Company and to the best of our knowledge and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income- Tax, Sale-Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and other statutory dues, if any applicable to it with the appropriate authorities. Further, according to the information and explanation given to us, no undisputed amounts payable in respect of aforesaid were in arrear at the year end for a period of more than six months from the date they became payable.

(b) According to the records of the Company and to the best of our knowledge and according to the information and explanations given to us, there are no dues outstanding of sales tax, income tax, custom tax, wealth tax, excise duty, cess on account of any dispute.

10. The Company has no accumulated losses at the end of the financial year and has not incurred any cash losses in the current financial year.

11. According to the records of the Company, the Company has not taken any loan or advance from any financial institution or bank and has not issued any type of debentures. Accordingly Clause (xi) of Paragraph 4 of the Companies ( Auditor's Report) Order, 2003 is not applicable to the Company.

12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures, and other securities. Accordingly Clause (xii) of Paragraph 4 of the Companies ( Auditor's Report) Order, 2003 is not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the nature of activities of the Company does not attract any special statute applicable to chit fund and nidhii/ mutual benefit fund/societies.

14. In our opinion, the Company has maintained proper records of transaction and contracts in respect of dealing or trading in shares, securities, debentures and other investments and timely entries have been made therein. All shares, Debentures and other investments have been held by the Company in its own name.

15. In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by its subsidiaries and associates from bank or financial institutions.

16. The Company has not raised any term loan during the year.

17. The Company has not raised any funds either on short term basis or long term basis during the year.

18. The Company has not made any preferential allotment of shares to parties 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, the question of creation of security or charge in respect of debentures in issued does not arise.

20. The Company has not raised any money by way of public issue during the year.

21. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year.

For KAPOOR GOYAL & ASSOCIATES CHARTERED ACCOUNTANTS

PLACE : NEW DELHI [ANURAG KAPOOR] DATED : 16.08.2011 PARTNER [M.No.99061]












Mar 31, 2010

1. We have audited the attached Balance Sheet of M/s Funny Software Private Limited as at 31st March'2010 and the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these statements based on our audit.

2. We conduct our audit in accordance with the 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 from any 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 management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956 and on the basis of such checks as were considered appropriate and according to information and explanations given to us, we enclose in the annexure a statement on the matters specified in paragraph 4 & 5 of the said order.

4. Further 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 purpose of our audit.

(b) In our opinion, proper books of account as required by the law have been kept by the Company so far as appears from our examination of such books.

(c) The Balance Sheet and the Profit & Loss Account dealt with by the report are in agreement with the books of account.~

(d) In our opinion, the Balance Sheet and the Profit & Loss Account of the Company generally comply with the mandatory accounting standards referred to in Section 211(3C) of the Companies Act, 1956.

(e) As informed and explained to us none of the director are disqualified from being appointed as director under Section 274(1 )(g) of the Companies Act, 1956;

(f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read 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:-

(I) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March'2011 and

(II) in the case of the Profit & Loss Account, of the NIL position for the year ended on that date.

ANNEXURE TO THE AUDITOR'S REPORT (Re : FUNNY SOFTWARE PRIVATE LIMITED)

(Referred to in paragraph 3 of our report of even date)

1. The Company does not have any fixed assets and hence, provisions of Clause (i) of Paragraph 4 of the Companies ( Auditor's Report ) Order, 2003 are not applicable to Company.

2. The Company does not have any inventory and hence, provisions of Clause (ii) of Paragraph 4 of the Companies ( Auditor's Report ) Order, 2003 are not applicable to Company.

3. The Company has not granted or taken any loan, secured or unsecured to / from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. According, Clause (iii) of Paragraph 4 of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company.

4. In our opinion, and according to the information and explanations given to us, there is an internal control system commensurate with the size of the Company and nature of its business for investments and its disposal. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of particulars of contracts or arrangements and transactions entered in the register maintained in pursuance of section 301 of the Companies Act, 1956;

(a) To the best of our knowledge and belief and according to the information and explanations given to us, particulars of contracts or arrangements that need to be entered into the register have been so entered.

(b) According to the information and explanations given to us, these contracts or arrangements, if any, have been made at prices which are reasonable having regards to the prevailing market prices at the relevant time.

6. According to the records of the Company and to the best of our knowledge and according to the information and explanations given to us, the Company has not accepted any deposits from the public. Accordingly, provision of Clause (vi) of Paragraph 4 of the Companies ( Auditor's Report) Order, 2003 are not applicable to the Company.

7. In our opinion and according to the information and explanations given to us, the Company has an integral audit system commensurate with the size and nature of its business.

8. According to the information and explanation given to us, the Company has not prescribed maintenance of cost records under clause (d) of sub section 209 of the Companies Act, 1956 for the nature of business of the Company and hence, we are not required to comment in regard to maintenance of such records.

9. In respect of statutory and other dues :

(a) According to the records of the Company and to the best of our knowledge and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income- Tax, Sale-Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and other statutory dues, if any applicable to it with the appropriate authorities. Further, according to the information and explanation given to us, no undisputed amounts payable in respect of aforesaid were in arrear at the year end for a period of more than six months from the date they became payable.

(b) According to the records of the Company and to the best of our knowledge and according to the information and explanations given to us, there are no dues outstanding of sales tax, income tax, custom tax, wealth tax, excise duty, cess on account of any dispute.

10. The Company has no accumulated losses at the end of the financial year and has not incurred any cash losses in the current financial year.

11. According to the records of the Company, the Company has not taken any loan or advance from any financial institution or bank and has not issued any type of debentures. Accordingly Clause (xi) of Paragraph 4 of the Companies ( Auditor's Report) Order, 2003 is not applicable to the Company.

12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures, and other securities. Accordingly Clause (xii) of Paragraph 4 of the Companies ( Auditor's Report) Order, 2003 is not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the nature of activities of the Company does not attract any special statute applicable to chit fund and nidhii/ mutual benefit fund/societies.

14. In our opinion, the Company has maintained proper records of transaction and contracts in respect of dealing or trading in shares, securities, debentures and other investments and timely entries have been made therein. All shares, Debentures and other investments have been held by the Company in its own name.

15. In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by its subsidiaries and associates from bank or financial institutions.

16. The Company has not raised any term loan during the year.

17. The Company has not raised any funds either on short term basis or long term basis during the year.

18. The Company has not made any preferential allotment of shares to parties 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, the question of creation of security or charge in respect of debentures in issued does not arise.

20. The Company has not raised any money by way of public issue during the year.

21. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year.

For KAPOOR GOYAL & ASSOCIATES CHARTERED ACCOUNTANTS

PLACE : NEW DELHI [ANURAG KAPOOR] DATED : 18.08.2010 PARTNER [M.No.99061]





 
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