Mar 31, 2014
We have audited the accompanying financial statements of G-Tech Info
Training Limited (the Company) which comprise the balance sheet as at
31 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 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 211
of the 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 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, but not for the
purpose of expressing an opinion on the effectiveness of the entity''s
internal control. 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:
(i) in the case of the balance sheet, of the state of affairs of the
Company as at 31 March 2014;
(ii) in the case of the statement of profit and loss, of the profit for
the year ended on that date; and
(iii) 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''''), as amended, issued by the Central Government of India in
terms of 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
the 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 purpose 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, statement of profit and loss and cash flow
statement dealt with by this Report are in agreement with the books of
account;
a. in our opinion, the balance sheet, statement of profit 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 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.
; and
b. on the basis of written representations received from the directors
as on 31 March 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31 March 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
Referred to in paragraph 1 of our report of even date, on the accounts
of G-TECH INFO- TRAINING LIMITED for the year ended 31st March 2014.
On the basis of such checks as considered appropriate and in terms of
the information and explanations given to us, we report as under:
(i) The Company has no having any Fixed Assets, hence clause (b) & (c)
is not applicable.
(ii) The Company has not purchased/sold goods during the year nor is
there any opening stock, hence clause (b) & (c) is not applicable.
(iii) The Company has not granted or taken any loans, secured or
unsecured to companies, firms and other parties covered in the
registers maintained under section 301 of the Companies Act 1956,
therefore, the provisions of clause 4 (3) of the Companies (Auditors
Reports) Order 2003 are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchases and fixed assets and for sale of
services. During the course of our audit, no major weakness has been
noticed in internal control system.
(v) Based on the Audit procedure applied by us, we are of the opinion
that there were no transactions during the year that need to be entered
in the Registers maintained under section 301 of the Companies Act
1956.
(vi) The Company has not accepted any deposits from the public within
the meaning of provisions of section 58A, 58AA or any other relevant
provisions of the Companies Act 1956, and the Companies (Acceptance of
Deposits) rules 1975, therefore, the provisions of clause 4 (vi) of the
Companies (Auditors Reports) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the Company has adequate internal audit system
commensurate with the size and nature of its business.
(viii) As explained to us, the Central Government has not prescribed
the maintenance of cost records under section 209 (1) (d) of the
Companies Act, 1956 in respect of the business activities of the
Company.
(ix) (a) On the basis of our examination of the records of the Company
no undisputed amounts payable in respect of Provident Fund,
Investors'' Education and Protection Fund, Employees'' State
Insurance, Income Tax, Sales Tax, Wealth Tax, Custom duty, excise duty,
and cess were outstanding as at 31st March 2014 for a period of more
than 6 months from the date they became payable
(b) According to information and explanations given, there were no
disputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom duty, Excise duty, cess, which have been outstanding as at
31st March, 2014.
(x) The Company has neither accumulated losses as at March 31,2014 nor
has it incurred any cash losses during the financial year ended on that
date and loss of Rs.12109/-in the immediately preceding financial year
ended 31st March''2013.
(xi) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to
banks or financial institutions.
(xii) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of Companies (Auditors
Report) order, 2003 are not applicable to the Company.
(xiii) In our opinion, the Company is not a chit fund or a nidhi/
mutual benefit fund / society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditor''s Report) Order, 2003 are not
applicable to the Company.
(xiv) According to the information and explanations given to us, the
Company is not dealing or trading in shares, securities, debentures and
other investments.
(xv) According to the information given to us the Company has not given
any guarantee for loan taken by others from Banks or Financial
Institution.
(xvi) According to the records of the Company, the Company has not
borrowed any Term Loan; hence comment under the clause is not called
for.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the Company, we report
that no funds raised on short-term basis have been used for long term
investment.
(xviii) According to the information and explanations given to us, the
Company has not made preferential allotment of shares to parties and
companies covered in the Register maintained under section 301 of the
Act.
(xix) The Company has not issued any debentures during the year.
(xx) The Company has not raised funds from Public Issue during the year
under audit.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
cause of our audit.
For Verma Mehta & Associates
Chartered Accountants
Sd/-
Mrugen H. Shah
Partner.
Firm Reg No: 112118W Place :Mumbai,
Membership. No: 114770 Date : 28th May, 2014
Mar 31, 2013
We have audited the accompanying financial statement of G-Tech Info
Training Ltd ("the Company") which comprise the Balance Sheet as at
31st March 2013, 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
The Management is responsible for the preparation of these financial
statements that give a true and fair view of financial position,
financial performance and cash flows of the company in according with
the Accounting Standards referred to in sub-section (3C) of Section 211
of the Company 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 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
Accounts 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 assessment, 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 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
explanations given to us, the financial statements gives the
information required by the Act in the manner so required and give a
true and fair view in conformity with the according 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 2013; (ii) In the
case of the Statement of Profit and Loss, of the profit for the year
ended on that date; and (iii) 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"), as amended, issued by the Central Government of India in terms
of 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 the said
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 purpose 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, Statement of Profit and Loss and 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
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 31st March 2013, and taken on record by the Board of Directors,
none of the directors are disqualified as on 31st March 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
Referred to in paragraph 3 of our report of even date, on the accounts
of G- TECH INFO- TRAINING LIMITED for the year ended 31st March 2013.
On the basis of such checks as considered appropriate and in terms of
the information and explanations given to us, we report as under:
(i) The Company is not having any Fixed Assets, hence clause (b) & (c)
is not applicable.
(ii) The Company has not purchased/sold goods during the year nor is
there any opening stock, hence clause (b) & (c) is not applicable.
(iii) The Company has not granted or taken any loans, secured or
unsecured to companies, firms and other parties covered in the
registers maintained under section 301 of the Companies Act 1956,
therefore, the provisions of clause 4 (3) of the Companies (Auditors
Reports) Order 2003 are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchases of inventory and fixed assets and for
sale of goods and services. During the course of our audit, no major
weakness has been noticed in internal control system.
(v) Based on the Audit procedure applied by us, we are of the opinion
that there were no transactions during the year that need to be entered
in the Registers maintained under section 301 of the Companies Act
1956.
(vi) The Company has not accepted any deposits from the public within
the meaning of provisions of section 58A, 58AA or any other relevant
provisions of the Companies Act 1956, and the Companies (Acceptance of
Deposits) rules 1975, therefore, the provisions of clause 4 (vi) of the
Companies (Auditors Reports) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the Company has adequate internal audit system
commensurate with the size and nature of its business.
(viii) As explained to us, the Central Government has not prescribed
the maintenance of cost records under section 209 (1) (d) of the
Companies Act, 1956 in respect of the business activities of the
Company.
(ix) (a) On the basis of our examination of the records of the Company
no undisputed amounts payable in respect of Provident Fund, Investors''
Education and Protection Fund, Employees'' State Insurance, Income Tax,
Sales Tax, Wealth Tax, Custom duty, excise duty, and cess were
outstanding as at 31st March 2013 for a period of more than 6 months
from the date they became payable.
(b) According to information and explanations given, there were no
disputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom duty, Excise duty, cess, which have been outstanding as at
31st March, 2013.
(c) The Company has accumulated losses of Rs. 96,802,987 exceeding more
than 50% of its net worth at the end of the financial year 2013.
However, the Company has incurred cash loss Rs. 12,109/- during the
financial year and a loss of Rs. 25,825/- in the immediately preceding
financial year ended 31st March, 2012.
(d) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to
banks or financial institutions.
(e) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of Companies (Auditors
Report) order, 2003 are not applicable to the Company.
(f) In our opinion, the Company is not a chit fund or a nidhi / mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(g) According to the information and explanations given to us, the
Company is not dealing or trading in shares, securities, debentures and
other investments.
(h) According to the information given to us the Company has not given
any guarantee for loan taken by others from Banks or Financial
Institution.
(i) According to the records of the Company, the Company has not
borrowed any Term Loan; hence comment under the clause is not called
for.
(j) According to the information and explanations given to us and on an
overall examination of the balance sheet of the Company, we report that
no funds raised on short-term basis have been used for long term
investment.
(k) According to the information and explanations given to us, the
Company has not made preferential allotment of shares to parties and
companies covered in the Register maintained under section 301 of the
Act.
(l) The Company has not issued any debentures during the year.
(m) The Company has not raised funds from Public Issue during the year
under audit.
(n) According to the information and explanations given to us, no fraud
on or by the Company has been noticed or reported during the cause of
our audit.
For AGARWAL DESAI & SHAH
Chartered Accountants
FRNo: 124850W
sd/-
(Mrugen H. Shah)
Partner
M. No. : 114770
Place: Mumbai
Date: 28th May, 2013
Mar 31, 2012
1. We have audited the attached Balance Sheet of G-TECH INFO-TRAINING
LTD as at 31st March 2012, the Profit and Loss Account and also the
Cash Flow Statement 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
financial statements based on our audit.
2. We conducted 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 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 management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003 as
amended by the Companies (Auditor's Report) (Amendment) order, 2004
(now herein after referred to as the 'Order') issued by the Central
Government of India in terms of sub-section (4A) of Section 227 of the
Companies 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:-
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 and Loss Account and 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 Cash
Flow Statement deal with by this report comply with the Accounting
Standards referred to in section 211 (3C) of the Companies Act, 1956.
e) On the basis of written representations received from the directors,
as on 31st March 2012, and taken on record by the Board of Directors,
we report that none of the Directors were disqualified as on March
31st, 2012 from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 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 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 :
1. In the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March 2012.
2. In the case of the Profit and Loss Account of the Profit for the
year ended on 31st March 2012.
3. In case of the Cash Flow statement of the Cash Flow for the year
ended on 31st March 2012.
Referred to in paragraph 3 of our report of even date, on the accounts
of G-TECH INFO-TRAINING LIMITED for the year ended 31st March 2012.
On the basis of such checks as considered appropriate and in terms of
the information and explanations given to us, we report as under:
(i) The Company is not having any Fixed Assets, hence clause (b) & (c)
is not applicable.
(ii) The Company has not purchased/sold goods during the year nor is
there any opening stock, hence clause (b) & (c) is not applicable.
(iii) The Company has not granted or taken any loans, secured or
unsecured to companies, firms and other parties covered in the
registers maintained under section 301 of the Companies Act 1956,
therefore, the provisions of clause 4 (3) of the Companies (Auditors
Reports) Order 2003 are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchases of inventory and fixed assets and for
sale of goods and services. During the course of our audit, no major
weakness has been noticed in internal control system.
(v) Based on the Audit procedure applied by us, we are of the opinion
that there were no transactions during the year that need to be entered
in the Registers maintained under section 301 of the Companies Act
1956.
(vi) The Company has not accepted any deposits from the public within
the meaning of provisions of section 58A, 58AA or any other relevant
provisions of the Companies Act 1956, and the Companies (Acceptance of
Deposits) rules 1975, therefore, the provisions of clause 4 (vi) of the
Companies (Auditors Reports) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the Company has adequate internal audit system
commensurate with the size and nature of its business.
(viii) As explained to us, the Central Government has not prescribed
the maintenance of cost records under section 209 (1) (d) of the
Companies Act, 1956 in respect of the business activities of the
Company.
(ix) (a) On the basis of our examination of the records of the Company
no undisputed amounts payable in respect of Provident Fund, Investors'
Education and Protection Fund, Employees' State Insurance, Income Tax,
Sales Tax, Wealth Tax, Custom duty, excise duty, and cess were
outstanding as at 31st March 2012 for a period of more than 6 months
from the date they became payable except Rs.34,448/- TDS.
(b) According to information and explanations given, there were no
disputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom duty, Excise duty, cess, which have been outstanding as at
31st March, 2012.
(c) The Company has accumulated losses exceeding more than 50% of its
net worth at the end of the financial year 2012. However, the Company
has incurred cash loss Rs.3,56,00,817/- during the financial year and a
profit of Rs. 59,183/- in the immediately preceding financial year
ended 31st March 2011.
(d) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to
banks or financial institutions.
(e) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Therefore, the provisions of clause 4 (xii) of Companies (Auditors
Report) order, 2003 are not applicable to the Company.
(f) In our opinion, the Company is not a chit fund or a nidhi / mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
(g) According to the information and explanations given to us, the
Company is not dealing or trading in shares, securities, debentures and
other investments.
(h) According to the information given to us the Company has not given
any guarantee for loan taken by others from Banks or Financial
Institution.
(i) According to the records of the Company, the Company has not
borrowed any Term Loan; hence comment under the clause is not called
for.
(j) According to the information and explanations given to us and on an
overall examination of the balance sheet of the Company, we report that
no funds raised on short-term basis have been used for long term
investment.
(k) According to the information and explanations given to us, the
Company has not made preferential allotment of shares to parties and
companies covered in the Register maintained under section 301 of the
Act.
(l) The Company has not issued any debentures during the year.
(m) The Company has not raised funds from Public Issue during the year
under audit.
(n) According to the information and explanations given to us, no fraud
on or by the Company has been noticed or reported during the cause of
our audit.
For AGARWAL DESAI & SHAH
Chartered Accountants
FRNo: 124850W
sd/-
(Mrugen H Shah)
Partner Place :Mumbai,
M. No: 114770 Date : 28th July, 2012
Mar 31, 2011
1. We have audited the attached Balance Sheet of G-TECH INFO-TRAINING
as at 31st March 2011, the Profit and Loss Account and Cash Flow
Statement 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
financial statements based on our audit.
2. 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 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 financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003 as
amended by the Companies (Auditor's Report) (Amendment) order, 2004
(now herein after referred to as the 'Order') issued by the Central
Government of India in terms of sub-section (4A) of Section 227 of the
Companies Act, 1956, we enclose in the Annexure, a statement on the
matters specified in the paragraphs 4 and 5 of the said Order.
4. Further subject to our comments in the Annexure referred to in
paragraph 1 above 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 the
books;
c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account of
the Company;
d) In our opinion, the Balance Sheet, Profit & Loss Account and Cash
Flow Statement deal with by this report comply with the Accounting
Standards referred to in section 211 (3C) of the Companies Act, 1956.
e) On the basis of written representations received from the directors,
as on 31st March 2011, and taken on record by the Board of Directors,
we report that none of the Directors of the company is disqualified as
on March 31,2011 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
f) In our opinion and to the best of our information and according to
the explanations given to us, they said Balance Sheet , Profit & Loss
Account and Cash Flow Statement read together with the other 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 and Loss Account of the Company of the
Profit for the year ended on 31st March 2011.
(iii) In case of the Cash Flow statement of the Company of Cash Flow
for the year ended on 31st March 2011.
ANNEXURE TO A UDITORS REPORT.
Referred to in paragraph 1 of our report of even date, to the share
holders of G-TECH INFO- TRAINING LIMITED of the account for the year
ended 31st March 2011.
(i) The Company is not having any Fixed Assets, hence clause (b) & (c)
is not applicable.
(ii) The Company has not purchased/sales the goods during the year nor
is there any opening stock hence clause (b) & (c) is not applicable.
(iii) (a) We have been informed that the company has not granted any
loans, secured or unsecured to companies, forms or other parties
covered in the registered maintained under section 301 of the Companies
Act 1956, hence clause (b), (c) & (d) is not applicable.
(b) We have been informed that the company has not taken any loans,
secured or unsecured to companies, firms or other parties covered in
the registered maintained under section 301 of the Companies Act 1956,
hence clause (f), & (g) is not applicable.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regards to purchases of inventory and fixed assets and
for sale of goods and services. During the course of our audit, no
major weakness has been noticed in internal control system.
(v) Based on the Audit procedure applied by us and the information and
explanation provided by management, we are of the opinion that there
were no transaction during the year that, need to be entered in the
Register maintained under section 301 of the Companies Act 1956.
(vi) The company has not accepted deposits from the public covered
under the provisions of section 58A of the Companies Act 1956 and rules
made there under are not applicable to the Company.
(vii) In our opinion, the Company has adequate internal audit system
commensurate with the size and nature of its business.
(viii) The rules made by the Central Government for the maintenance of
cost records under section 209 (1) (d) of the Companies Act, 1956 are
not applicable to the Company.
(ix) (a) According to the records of the Company the Company is
generally regular in depositing undisputed statutory dues including
Provident Fund, Investors' Education and Protection Fund, Employees'
State Insurance, Income Tax, Sales Tax, Wealth Tax, Custom duty, excise
duty, cess and other material statutory dues as applicable have been
regularly deposited by the company during the year with the appropriate
authorities.
According to information and explanations given to us, no undisputed
amounts payable were outstanding at the yearend for a period of more
than 6 months from the date they become payable.
(b) According to information and explanations given, there were no
disputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom duty, Excise duty, cess, which have been outstanding as at
31st March 2011.
(x) The company has accumulated losses exceeding more than 50% of its
net worth at the end of the financial year 2011. However, the Company
has not incurred cash losses during the financial year and also in the
immediately preceding financial year ended 31st March 2010.
(xi) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to
banks or financial institutions.
(xii) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares,
debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi /
mutual benefit fund / society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditor's Report) Order, 2003 are not
applicable to the Company.
(xiv) According to the information and explanations given to us, the
company is not dealing or trading in shares, securities, debentures and
other investments.
(xv) According to the information given to us the Company has not given
any guarantee for loan taken by others from Banks or Financial
Institution.
(xvi) According to the records of the Company the Company has not
borrowed any Term Loan hence comment under the clause is not called
for.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that the no funds raised on short-term basis have been used for long
term investment.
(xviii) According to the information and explanations given to us, the
Company has not made preferential allotment of shares to parties and
companies covered in the register maintained under section 301 of the
Act.
(xix) Company has not issued any debentures during the year.
(xx) The Company has not raised funds by public issue during the year
under audit.
(xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
cause of our audit.
For AGARWAL DESAI & SHAH
Chartered Accountants
Firm Reg. No: 124850W
Sd/-
(Mrugen H Shah)
Partner
M. Ship Number: 114770
Place : Mumbai,
Date : 30th August, 2010
Mar 31, 2010
We have audited the attached Balance sheet of G-TECH INFO-TRAINING
LIMITED as at 31ST MARCH 2010 and also the Profit & Loss Account of the
Company 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
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 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 financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
As required by the Companies (Auditor's Report) Order, 2003 as
amended by the Companies (Auditor's Report) (Amendment) order, 2004
(now herein after referred to as "the Order") issued by the Central
Government of India in terms of sub-section (4A) of section 227 of the
Companies Act, 1956, we enclose in the annexure a statement on the
matters specified in paragraphs 4 and 5 of the said Order.
Further subject to our comments in the annexure referred to in
paragraph 1 above 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 accounts as required by Law have
been kept by the Company, so far as appears from our examinations of
the Books;
c) The Balance-sheet and Profit & Loss Account dealt with by this
report are in agreement with the books of accounts of the Company;
d) In our opinion the Profit & Loss Account and Balance sheet comply
with the requirement of 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,
as on 31st March, 2010, and taken on record by the Board of Directors,
we report that none of the directors of the Company is disqualified as
on 31st March, 2010 from being appointed as a director in terms of
clause (g) of sub-section (1) of section 274 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 Balance-sheet and Profit & Loss
Account read together with the other notes thereon give the information
required by the Companies Act, 1956 in the manner so required, and give
a true and fair view :
1 In case of the Balance-sheet, of the state of affairs of the Company
as at 31st March 2010; and
2 In case of the Profit & Loss Account of the Profit for the year ended
on 31st March 2010.
3 In case of the Cash Flow Statement of Cash Flow for the year ended on
31st March 2010.
Referred to in the Paragraph 1 of our report of even date, to the
shares holders of G-TECH INFO- TRAINING LIMITED of the account for the
year ended 31st March 2010
(i) The Company is not having any Fixed Assets , hence clause (b) & (
c) is not applicable.
(ii) The Company is not having trading business, hence clause (b) & (c)
is not applicable.
(iii) (a) We are informed that the company has not granted any loans,
secured or unsecured to companies , firms or other parties covered in
the registered maintained under section 301 of the Companies Act 1956,
hence clause (b), (c) & (d) is not applicable.
(b) We are informed that the company has not taken any loans, secured
or unsecured to companies , firms or other parties covered in the
registered maintained under section 301 of the Companies Act 1956,
hence clause (f), & (g) is not applicable
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of Inventory and fixed assets and for
sale of goods and services. During the course of our audit , no major
weakness has been noticed in internal control system.
(v) (a) According to the information and explanations given to us, we
are of the opinion that the transactions that need to be entered into
the register maintained under section 301 of the Companies Act, 1956
have been so entered.
(b) According to the information and explanations given to us, the
transactions made in pursuance of contracts or arrangements entered in
the register maintained under section 301of the Companies Act, 1956 and
exceeding the value of Rupee five lacs in respect of any party during
the year have been made at price which are reasonable, having regard to
the prevailing market price at the relevant time where such market
prices are available.
(vi) The Company has not accepted deposits from the public covered
under the provisions of section 58A of the Companies Act 1956 and rules
made there under are not applicable to the Company.
(vii) In our opinion, the Company has adequate internal audit system
commensurate with the size and nature of its business.
(viii) The Rules made by the Central Government for the maintenance of
cost records under section 209 (1) (d) of the Companies Act, 1956 are
not applicable to the Company.
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund,
investor education protection fund, employees' state insurance,
income tax, sales tax, wealth tax, custom duty, excise duty, cess and
other material statutory dues applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, customs duty, excise duty and cess were in arrears, as at 31st
March 2010 a period of more than six months from the date they became
payable.
(x) The Company have accumulated losses of Rs. 611.85 lacs at the end
of the financial year 2010. Further, the Company has not incurred cash
losses during the financial year ended 31st March 2010 and in the
immediately preceding financial year ended 31st March 2009.
(xi) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to
banks or financial institutions.
(xii) We are of the opinion that the Company has maintained adequate
records where the company has granted loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi/
mutual benefit fund/ society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditor's Report) Order, 2003 are not
applicable to the Company.
(xiv) According to the information and explanations given to us, the
company has maintained proper records of transactions and contracts
showing full particulars of investments including quantitative details.
The company has made entries timely.
(xv) As explained to us the Company has not given any guarantee for
loan taken by others from Banks or Financial Institution.
(xvi) As explained to us the Company has not taken any Term Loan.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that the no funds raised on short-term basis have been used for long
term investment.
(xviii) According to the information and explanations given to us, the
Company has not made preferential allotment of shares to parties and
companies covered in the register maintained under section 301 of the
Act.
(xix) Company has not issued any debentures during the year.
(xx) The Company has not raised funds by public issue during the year
under audit.
(xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
FOR AGARWAL DESAI & SHAH
Chartered Accountants
(Mrugen H Shah)
Partner
M. No. 114770
Place : Mumbai
Date : 27th August, 2010
Mar 31, 2009
We have audited the attached Balance sheet of G-TECH INFO-TRAING
LIMITED as at 31ST MARCH 2009 and also the Profit & Loss Account of the
Company for. the year ended on that date annexed thereto.
These financial statements are the responsibility of the Companys
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 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 financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
As required by the Companies (Auditors Report) Order, 2003 as amended
by the Companies (Auditors Report) (Amendment) order, 2004 (now herein
after referred to as "the Order") issued by the Central Government of
India in terms of sub-section (4A) of section 227 of the Companies Act,
1956, we. enclose in the annexure a statement oh the matters specified
in paragraphs 4 and 5 of the said Order.
Further subject to our cdmments in the annexure referred to in
paragraph 1 above 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 accounts as required by Law have
been kept by the Company, so far as appears from our examinations of
the Books;
c) The Balance-sheet and Profit & Loss Account deak with by this report
are in agreement with the books of accounts of the Company;
d) In our opinion the Profit & Loss Account and Balance sheet comply
with the requirement of 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,
as on 31st March, 2009, and taken on record by the Board of Directors,
we report that none of the directors of the Company is discussing as on
31st March, 2009 from being appointed as a director in terms of clause
(g) of sub-section section 274 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 Balance-sheet and Profit & Loss
Account read together with the other notes thereon give the information
required by the Companies Act, 1956 in the manner so required, and give
a true and fair view:
1 In case of the Balance-sheet, of the state of affairs of the Company
as at 31st March 2009; and
2 In case of the Profit & Loss Account of the Profit for the year ended
on 31st March 2009.
3 In case of the Cash Flow Statement of Cash Flow for the year ended on
31st March 2009.
ANNEXURE TO THE AUDITORS REPORT Referred to in the Paragraph 1 of our
report of even date, to the shares holders of G-TECH INFO-TRAINING
LIMITED of the account for the year ended 31st March 2009
(i) (a) The Company is not having any Fixed Assets, hence clause (b) &(
c) is not applicable.
(ii) (a) The Company is not having trading business, hence clause (b) &
(c) is not applicable.
(iii) (a) We are informed that the company has not granted any loans,
secured or unsecured to companies , firms or other parties covered in
the registered maintained under section 301 of the Companies Act 1956,
hence clause (b), (c) & (d) is not applicable.
(e) We are informed that the company has not taken any loans, secured
or unsecured to companies , firms or other parties covered in the
registered maintained under section 301 of the Companies Act 1956,
hence clause (f), & (g) is not applicable
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of Inventory and fixed assets and for
sale of goods and services. During the course of our audit, no major
weakness has been noticed in internal control system.
(v) (a)According to the information and explanations given to us, we
are of the opinion that the transactions that need to be entered into
the register maintained under section 301 of the Companies Act, 1956
have been so entered.
(b) According to the information and explanations given to us, the
transactions made in pursuance of contracts or arrangements entered in
the register maintained under section 301of the Companies Act, 1956 and
exceeding the value of Rupee five lacs in respect of any party during
the year have been made at price which are reasonable, having regard to
the prevailing market price at the relevant time where such market
prices are available.
(vi) The Company has not accepted deposits from the public covered
under the provisions of section 58A of the Companies Act 1956 and rules
made there under are not applicable to the Company.
(vii) In our opinion, the Company has adequate internal audit system
commensurate with the size and nature of its business.
(viii) The Rules made by the Central Government for the maintenance of
cost records under section 209 (1)
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund,
investor education protection fund, employees state insurance, income
tax, sales tax, wealth tax, custom duty, excise duty, cess and other
material statutory dues applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income tax, wealth tax, sales
tax, customs duty, excise duty and cess were in arrears, as at 31st
March 2009 a period of more than six months from the date they became
payable.
(x) The Company have accumulated losses of Rs. 612.65 lacs at the end
of the financial year 2009.which is more than the 50% of net worth of
the company . Further, the Company has not incurred cash losses during
the financial year ended 31st March 2009 and in the immediately
preceding financial year ended 31st March 2008.
(xi) In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to
banks or financial institutions.
(xii) We are of the opinion that the Company has maintained adequate
records where the company has granted loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi/
mutual benefit fund/ society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditors Report) Order, 2003 are not
applicable to the Company.
(xiv) According to the information and explanations given to us, the
company has maintained proper records of transactions and contracts
showing full particulars of investments including quantitative details.
The company has made entries timely.
(xv) As explained to us the Company has not given any guarantee for
loan taken by others from Banks or Financial Institution.
(xvi) As explained to us the Company has not taken any Term Loan.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that the no funds raised on short-term basis have been used for long
term investment.
(xviii) According to the information and explanations given to us, the
Company has not made preferential allotment of shares to parties and
companies covered in the register maintained under section 301 of
(xix) Company has not issued any debentures during the year.
(xx) The Company has not raised funds by public issue during the year
under audit.
(xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
FOR AGARWAL DESAI & SHAH
Chartered Accountants
(Mrugen H Shah)
Partner
Place: Mumbai
Date: 01.09.2009
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