Mar 31, 2014
Report on the Financial Statements
We have audited the accompanying financial statements of TECHNOJET
CONSULTANTS LIMITED, Mumbai ("the Company"), which comprise the Balance
Sheet as at March 31, 2014 and the Statement of Profit and Loss and
Cash Flow Statement for the year then ended, and a summary of
significant accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
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 September 13, 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 judgement, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the Company''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:
(a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2014;
(b) in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 as
amended by Companies (Auditor''s Report) (Amendment) Order, 2004
(together ''the Order''), 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;
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 Act read with the General
Circular 15/2013 dated September 13, 2013 of the Ministry of Corporate
Affairs in respect Section 133 of the Companies Act, 2013.;
e. on the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Act;
The Annexure referred to in paragraph 1 of the our Report of even date
to the Members of "Technojet Consultants Limited" on the accounts of
the Company for the year ended 31st March, 2014.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. (a) The company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets.
(b) As explained to us, fixed assets have been physically verified by
the management at reasonable intervals; no material discrepancies were
noticed on such verification.
(c) In our opinion and according to the information and explanations
given to us, no fixed asset has been disposed during the year and
therefore does not affect the going concern assumption.
2. The Company had no inventories, hence there are not statements to
be made on the matters contained in para 4(ii) of CARO.
3. (a) The Company had not granted any loans, secured or unsecured, to
companies, firms or other parties listed in the register maintained
under Section 301 of the Companies Act, 1956. Consequently, the
provisions of clauses iii (b), iii(c) and iii (d) of the order are not
applicable to the Company.
(b) The Company had not taken loans from companies, firms or other
parties listed in the register maintained under Section 301 of the
Companies Act, 1956. Thus sub clauses (f) & (g) are not applicable to
the company.
4. In our Opinion there are adequate internal control procedure
commensurate with the size of the company and the nature of its
business, for the purchase of inventories & fixed assets and payment
for expenses & for sale of goods. No major weaknesses in the internal
controls have been observed during the course of audit.
5. 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 were no contracts or arrangements referred to in
Section 301 of the Act that needed to be entered into the Register
required to be maintained under that Section.
6. The Company has not accepted any deposits from the public within
the meaning of the provisions of Section 58A and 58AA of the Companies
Act, 1956 or any other relevant provision of the Act and the rules
framed there under.
7. As per information & explanations given by the management, the
Company has an internal audit system commensurate with its size and the
nature of its business.
8. As informed to us the maintenance of cost records has not been
prescribed by the Central Government under section 209(1)(d) of the
Companies Act, 1956, in respect of the activities carried on by the
Company.
9. (a) Based on the audit procedures applied by us and according to
the information and explanation provided by Management, the Company is
generally regular in depositing undisputed statutory dues including
Provident Fund, Investor Education and Protection Fund, Employees''
State Insurance, Income-tax, Sales- tax, Wealth Tax, Service Tax,
Custom Duty, Excise Duty, cess and any other statutory dues as may be
applicable with the appropriate authorities. There are no arrears of
undisputed outstanding statutory dues as at the last day of the
financial year for a period of more than six months from the date they
became payable.
(b) There are no disputed dues and hence question of details does not
arise.
10. The Company has no accumulated losses at the end of the financial
year. The Company has not incurred cash loss in the current year or
immediately preceding financial year.
11. The Company has not obtained borrowings from financial
institutions during the year ended 31st March, 2014.
12. The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Hence, there is no statement to be made on the matters contained in
para 4 (xii) of CARO.
13. In our opinion, and according to the information and explanation
given to us, the nature of activities of the Company does not attract
any special statue applicable to chit fund or a nidhi /mutual benefit
fund/society.
14. In our opinion, the Company has maintained proper records of the
transactions and contracts of shares, securities, debentures and other
investments and timely entries have been made therein. The shares,
securities, debentures and other investments are held in its own name
except to the extent of exemption if any granted under section 49 of
the Act.
15. According to the information and explanations given to us, the
Company had not during the year given any guarantee for loans taken by
others from a banks or financial institutions.
16. The Company has not obtained any term loans as of 1st April, 2013
or during the year.
17. On the basis of an overall examination of the Balance Sheet as at
31st March, 2014 and the information and explanations given to us,
funds raised on short-term basis have prima facie, not been used for
long-term investment by the Company.
18. The Company has not made any preferential allotment of shares
during the year.
19. The Company has not issued any debentures during the year and no
debentures were outstanding as on 1st April, 2013.
20. The Company has not raised any money by public issue during the
year.
21. Based on the audit procedures performed and the information and
explanations given by the management, no fraud on or by the Company has
been noticed or reported during the year.
For D.R.Kothari & Co.,
Chartered Accountants
(Firm Registration No.105301W)
(D.R.Kothari)
Proprietor
(Membership No.4337)
Mumbai, dated: 26th May, 2014
Mar 31, 2013
We have audited the accompanying financial statements of TECHNOJET
CONSULTANTS LIMITED. Mumbai ("the Company''), which comprise the
Balance Sheet as at March 31. 2013 and the Statement of Profit and Loss
and Cash Flow Statement for the year then ended, and a summary of
significant accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
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"). 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 judgement, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error, in making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate In the Circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
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 Ine Information
required by the Act in the manner so required and give a true and feir
view in conformity with the accounting principles generally accepted In
India:
(a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2013;
(b) in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1 As required by the Companies (Auditor''s Report) Order. 2003 as
amended by Companies (Auditors Report) (Amendment) Order, 2004
(together the Order1), 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;
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:
e. on the basis of written representations received from the directors
as on March 31. 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31; 2013, from being
appointed as a director In terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956:
The Annexure referred to In paragraph 1 of the our Report of even date
to the Members of "Technojet Consultants Limited" on the accounts of
the Company for the year ended 31st March, 2013.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
1. (a) The company has maintained proper records showing full
particulars including quantitative details and situation of its fixed
assets.
(b) As explained to us, fixed assets have been physically verified by
the management at reasonable intervals: no material discrepancies were
noticed on such verification.
c) In our opinion and according to the information and explanations
given to us, no fixed asset has been disposed during the year and
therefore does not affect the going concern assumption.
2 The Company had no inventories, hence there are not statements to be
made on the matters contained In para 4(ii) of CARO.
3, (a) The Company had not granted any loans, secured or unsecured, to
companies, firms or other parties listed in the register maintained
under Section 301 of the Companies Act, 1956. Consequently, the
provisions of clauses iii (b), iii(c) and iii (d) of the order are not
applicable to the Company.
(b) The Company had not taken loans from companies, firms or other
parties listed in the register maintained under Section 301 of the
Companies Act, 1956 Thus sub clauses (f) & (g) are not applicable to
the company.
A. In our Opinion there are adequate internal control procedure
commensurate with the size of the company and the nature of its
business, for the purchase of inventories & fixed assets and payment
for expenses & for sale of goods. No major weaknesses in the internal
controls have been observed during the course of audit,
5. 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 were no contracts or arrangements refined to in
Section 301 of the Act that needed to be entered Into the Register
required to be maintained under that Section.
6. The Company has not accepted any deposits from the public within
the meaning cf the provisions of Section 58A and 58AA of the Companies
Act, 1956 or any other relevant provision of the Act and the rules
framed there under.
7. As per information & explanations given by the management, the
Company has an internal audit system commensurate with its size and the
nature of its business.
8 As informed to us the maintenance of cost records has not been
prescribed by the Central Government under section 209(1 )(d) or the
Companies Act, 1956. in respect of the activities carried on by the
Company
9, (a) Based on the audit procedures applied by us and according to the
information and explanation provided by Management, the Company is
generally regular in depositing undisputed statutory dues including
Provident Fund, Investor Education and Protection Fund, Employees''
State insurance, Income-tax, Sales- tax. Wealth Tax, Service Tax,
Custom Duty, Excise Duty, cess and any other statutory dues as may be
applicable with the appropriate authorities. There are no arrears of
undisputed outstanding statutory dues as at the last day of the
financial year for a period of more than six months from the date they
became payable.
(b) There are no disputed dues and hence question of details does not
arise.
10. The Company has no accumulated losses at the end of the financial
year. The Company has not Incurred cash toss in the current year or
immediately preceding financial year.
11. The Company has not obtained borrowings from financial institutions
during the year ended 31st March. 2013
12. The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures end other securities.
Hence, there is no statement to be made on the matters contained in
para 4 (xii) of CARO.
13. in our opinion, and according to the information and explanation
given to us, the nature of activities of the Company does not attract
any special statue applicable to chit fund or a nidhi /mutual benefit
fund/society.
14. In our opinion, the Company has maintained proper records of the
transactions and contracts of shares, securities, debentures and other
investments and timely entries have been made therein. The shares,
securities, debentures and other investments are held in its own name
except to the extent of exemption if any granted under section 49 of
the Act.
15. According to the information and explanations given to us, the
Company had not during the year given any guarantee for loans taken by
others from a banks or financial institutions.
16. The Company has not obtained any term loans as of 1B! April, 2012
or during the year.
17. On the basis of an overall examination of the Balance Sheet as at
31st March, 2013 and the information and explanations given to us,
funds raised on short-term basis have prima fade, not been used for
long-term investment by the Company.
18. The Company has not made any preferential allotment of shares
during the year.
19. The Company has not Issued any debentures during the year and no
debentures were outstanding as on 1st April, 2012.
20. The Company has not raised any money by public issue during the
year.
21. Based on the audit procedures performed and the information and
explanations given by the management, no fraud an or by the Company has
bean noticed or reported during the year
For D.R.Kothari&Co..
Chartered Accountants
(Firm Registration No. 105301W)
(D.R.Kothari)
Proprietor
(Membership No 4337)
Mumbai, dated: 23 MAY 2013
Mar 31, 2012
1. We have audited the attached Balance Sheet of TECHNOJET CONSULTANTS
LIMITED, Mumbai as at 31st March 2012 and also the Profit and 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 our opinion on these
financial statements based on our audit.
2. We have conducted our audit in accordance with auditing standards
generally accepted in India. These 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
(CARO) issued by the Central Government in terms of Section 227(4A) of
the Companies Act, 1956 we give in Annexure, a statement on the matters
specified in paragraphs 4 and 5 of the said Order.
4. 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 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 examination of
those books and proper returns adequate for the purpose of our audit
have been received.
(c) The balance Sheet and Profit and Loss Account dealt with by the
report are in agreement with the Books of Account.
(d) In our opinion, the Balance Sheet and Profit and Loss Account dealt
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 are disqualified as on 31st March,
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 balance Sheet and the Profit and
Loss Account read together with the notes thereon, give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(i) In the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March 2012.
(ii)In the case of the Profit and Loss Account, of the ÂPROFIT'' for
the year ended 31st March, 2012.
(iii) in the case of Cash flow statements, of the cash flow for the
year ended on that date
As per the information and explanations given to us, we report under
paragraph 4 & 5 of the said order:
i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets,
(b) the management has physically verified the fixed assets during the
year and no material discrepancies were noticed on such verification
between the physical and book records. In our opinion, the frequency of
verification is reasonable having regard to the size of the Company and
nature of its fixed assets.
(c) Since there is no disposal of substantial part of fixed assets
during the year paragraph 4(i)(c) of the said order is not applicable.
ii) As there is no stock in trade the question in paras ii) (a) (b) (c)
do not require.
iii)
(a) (i) The Company has not granted loans, secured or unsecured to the
companies/firms or others parties listed in the Register maintained
under Section 301 of the Companies Act, 1956 and hence number of
parties and maximum balance does not arise.
(ii) The question of rate of interest and the terms and conditions of
loans granted, secured or unsecured, are prima facie not prejudicial to
the interest of the Company does not arise.
(iii) The question of payment of the principal amount of the above
loans and interest thereon does not arise.
(iv) The question of overdue amounts on the above loans not exceeding
Rs.1 lac and taking reasonable steps does not arise.
(b) (i) The Company has not taken any loans secured or unsecured from
the companies/firms or other parties listed in the Register maintained
under Section 301 of the Companies Act, 1956.
(ii) Since the Company has not taken loans secured or unsecured from
companies/firms or other parties listed in the register maintained
under Section 301 of the Act, paragraphs 4(iii)(f) and (g) of the said
order are not applicable.
iv) There are adequate internal control systems commensurate with the
size of the Company and the nature of its business for the purchase of
inventory and fixed assets and for sale of goods and services in our
opinion there is no weakness in internal control system.
v) The Company has not entered into any transaction that need to be
entered into a register in pursuance of section 301 of the Act and so
paragraphs 4 (v) (a) and 4 (v) (b) of the said Order are not
applicable.
vi) The Company has not accepted any deposits from the public and thus
paragraph 4 (vi) of the said Order is not applicable.
vii) The Company is having internal audit system commensurate with the
size of the Company.
viii) The activities carried on by the Company are not covered for
maintenance of cost records under Section 209(1 )(d) of the Act.
ix) (a) The statutory dues payable by the Company comprises of
income-tax, tax deducted at source and profession tax only. According
to the records of the Company, it is observed that the Company has
deposited its dues with appropriate authorities.
No undisputed amounts in respect of the statutory dues referred to the
above were outstanding as at 31st March, 2012 for a period of more than
six months from the date they became payable.
(b) There are no disputed dues and hence question of details does not
arise.
x) The Company has no accumulated losses in the immediately preceding
financial year.
xi) The Company has not obtained borrowings from financial institutions
during the year ended 31st March, 2012.
xii) Since the Company has not granted any loans or advances on the
basis of security by way of pledge of shares, debentures and other
securities paragraph 4(xii) of the said Order is not applicable.
xiii) As the Company is not a nidhi / mutual benefit fund / society to
which the provisions of special statute relating to chit fund are
applicable, paragraph 4(xiii) of the said Order is not applicable.
xiv) The Company is dealing or trading in shares, securities,
debentures and other investments and is maintaining proper records of
the transactions and contracts and making timely entries therein. The
shares, securities and debentures have been held by the Company in its
own name except to the extent of the exemption, if any, granted under
section 49 of the Act.
xv) The Company has not given any guarantee for loans taken by others
from banks or financial institutions.
xvi) The Company has not obtained term loan from Bank/s, hence question
of utilization does not arise.
xvii) No short term loans have been used for the acquisition of long
term investments.
xviii) As there was no allotment of shares during the year question of
preferential allotment does not arise.
xix) The Company has not issued any debentures during the year hence
question of creating security or charge does not arise.
xx) Since the Company has not raised any money by way of public issue
during the year, paragraph 4(xx) of the said Order is not applicable.
xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the year.
For and on behalf of
D.R. KOTHARI & CO.
Chartered Accountants
Firm Reg No. 105301W
D.R.KOTHARI
Proprietor
Place: Mumbai.
Date : 31 MAY 2012
Mar 31, 2011
1. We have audited the attached Balance Sheet of TECHNOJET CONSULTANTS
LIMITED, Mumbai as at 31st March 2011 and also the Profit and 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 our opinion on these
financial statements based on our audit.
2. We have conducted our audit in accordance with auditing standards
generally accepted in India. These 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
(CARO) issued by the Central Government in terms of Section 227(4A) of
the Companies Act, 1956 we give in Annexure, a statement on the matters
specified in paragraphs 4 and 5 of the said Order.
4. 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 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 examination of
those Books and proper returns adequate for the purpose of our audit
have been received.
(c) The balance Sheet and Profit and Loss Account dealt with by the
report are in agreement with the Books of Account.
(d) In our opinion, the Balance Sheet and Profit and Loss Account dealt
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 are disqualified as on 31st March,
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, the said balance Sheet and the Profit and
Loss Account read together with the notes thereon, give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India.
(i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March 2011.
(ii) In the case of the Profit and Loss Account of the 'LOSS' for
the year ended 31st March, 2011.
ANNEXURE TO AUDITORS REPORT As per the information and explanations
given to us, we report under paragraph 4 & 5 of the said order:
i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) the management has physically verified the fixed assets during the
year and no material discrepancies were noticed on such verification
between the physical and book records. In our opinion, the frequency of
verification is reasonable having regard to the size of the Company and
nature of its fixed assets.
(c) Since there is no disposal of substantial part of fixed assets
during the year paragraph 4(i)(c) of the said order is not applicable.
ii) (a) The inventories were physically verified by the management at
reasonable intervals.
(b) The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the Company and the nature of its business.
(c) The Company has maintained proper records of its inventories and no
discrepancies were noticed on such physical verification between
physical stock and the book records.
iii) (a) (i) The Company has not granted loans, secured or unsecured to
the companies/firms or others parties listed in the Register maintained
under Section 301 of the Companies Act, 1956 and hence number of
parties and maximum balance does not arise.
(ii) The question of rate of interest and the terms and conditions of
loans granted, secured or unsecured, are prima facie not prejudicial to
the interest of the Company does not arise.
(iii)The question of payment of the principal amount of the above loans
and interest thereon does not arise.
(iv) The question of overdue amounts on the above loans not exceeding
Rs.1 lac and taking reasonable steps does not arise.
(b)(i) The Company has not taken any loans secured or unsecured from
the companies/firms or other parties listed in the Register maintained
under Section 301 of the Companies Act, 1956.
(b)(ii) Since the Company has not taken loans secured or unsecured from
companies/firms or other parties listed in the register maintained
under Section 301 of the Act, paragraph 4(iii)(f) and (g) of the said
order are not applicable.
iv) There are adequate internal control systems commensurate with the
size of the Company and the nature of its business for the purchase of
inventory and fixed assets and for sale of goods and services in our
opinion there is no weakness in internal control system.
v) The Company has not entered into any transaction that need to be
entered into a register in pursuance of section 301 of the Act and so
paragraphs 4 (v) (a) and 4 (v) (b) of the said Order are not
applicable.
vi) The Company has not accepted any deposits from the public and thus
paragraph 4 (vi) of the said Order is not applicable.
vii) The Company is having internal audit system commensurate with the
size of the Company.
viii) The activities carried on by the Company are not covered for
maintenance of cost records under Section 209(1)(d) of the Act.
ix) (a) The statutory dues payable by the Company comprises of
income-tax, tax deducted at source, sales tax and profession tax only.
According to the records of the Company, it is observed the Company has
deposited its dues with appropriate authorities.
No undisputed amounts in respect of the statutory dues referred to the
above were outstanding as at 31st March, 2011 for a period of more than
six months from the date they became payable.
(b) There are no disputed dues and hence question of details does not
arise.
x) The Company has no accumulated losses in the immediately preceding
financial year.
xi) The Company has not obtained borrowings from financial institutions
during the year ended 31st March, 2011.
xii) Since the Company has not granted any loans or advances on the
basis of security by way of pledge of shares, debentures and other
securities paragraph 4(xii) of the said Order is not applicable.
xiii) As the Company is not a nidhi / mutual benefit fund / society to
which the provisions of special statute relating to chit fund are
applicable, paragraph 4(xiii) of the said Order is not applicable.
xiv) The Company is dealing or trading in shares, securities,
debentures and other investments and is maintaining proper records of
the transactions and contracts and making timely entries therein. The
shares, securities and debentures have been held by the Company in its
own name except to the extent of the exemption, if any, granted under
section 49 of the Act.
xv) The Company has not given any guarantee for loans taken by others
from banks or financial institutions.
xvi) The Company has not obtained term loan from Banks, hence question
of utilization does not arise.
xvii) No short term loans have been used for the acquisition of long
term investments.
xviii) As there was no allotment of shares during the year question of
preferential allotment does not arise.
xix) The Company has not issued any debentures during the year hence
question of creating security or charge does not arise.
xx) Since the Company has not raised any money by way of public issue
during the year, paragraph 4(xx) of the said Order is not applicable.
xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the year.
For and on behalf of
D.R. KOTHARI & CO.
Chartered Accountants
Firm Reg No.105301W
Sd/-
D. R. KOTHARI
D.R.KOTHARI
Proprietor
Mumbai, 31st MAY 2011
Mar 31, 2010
1. We have audited the attached Balance Sheet of TECHNOJET CONSULTANTS
LIMITED, Mumbai as at 31st March 2010 and also the Profit and 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 our opinion on these
financial statements based on our audit.
2. We have conducted our audit in accordance with auditing standards
generally accepted in India. These 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
(CARO) issued by the Central Government in terms of Section 227(4A) of
the Companies Act, 1956 we give in Annexure, a statement on the matters
specified in paragraphs 4 and 5 of the said Order.
4. 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 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 examination of
those Books and proper returns adequate for the purpose of our audit
have been received.
(c) The balance Sheet and Profit and Loss Account dealt with by the
report are in agreement with the Books of Account.
(d) In our opinion, the Balance Sheet and Profit and Loss Account dealt
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, 2010 and taken on record by the Board of Directors,
we report that none of the Directors are 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 the Profit and
Loss Account read together with the notes thereon, give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India.
(i) In the case of the Balance Sheet of the state of affairs of the
Company as at 31st March 2010.
(ii) In the case of the Profit and Loss Account of the 'LOSS' for
the year ended 31st March, 2010.
ANNEXURE TO AUDITORS REPORT As per the information and explanations
given to us, we report under paragraph 4 & 5 of the said order:
i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) the management has physically verified the fixed assets during the
year and no material discrepancies were noticed on such verification
between the physical and book records. In our opinion, the frequency of
verification is reasonable having regard to the size of the Company and
nature of its fixed assets.
(c) Since there is no disposal of substantial part of fixed assets
during the year paragraph 4(i)(c) of the said order is not applicable.
ii) (a) The inventories were physically verified by the management at
reasonable intervals.
(b) The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the Company and the nature of its business.
(c) The Company has maintained proper records of its inventories and no
discrepancies were noticed on such physical verification between
physical stock and the book records.
iii)(a)(i) The Company has granted loans, secured or unsecured to the
companies/firms or others parties listed in the Register maintained
under Section 301 of the Companies Act, 1956 during the year. It is to
only one party and maximum amount outstanding at any time during the
year is Rs.2,75,000/-
(ii) The rate of interest and the terms and conditions of loans
granted, secured or unsecured, are prima facie not prejudicial to the
interest of the Company.
(iii)The payment of the principal amount of the above loans and
interest thereon are also regular.
(iv) The overdue amounts on the above loans are not exceeding Rs.1 lac
the question of taking reasonable steps does not arise.
(b)(i) The Company has not taken any loans secured or unsecured from
the companies/firms or other parties listed in the Register maintained
under Section 301 of the Companies Act, 1956.
(b)(ii) Since the Company has not taken loans secured or unsecured from
companies/firms or other parties listed in the register maintained
under Section 301 of the Act, paragraph 4(iii)(f) and (g) of the said
order are not applicable.
iv) There are adequate internal control systems commensurate with the
size of the Company and the nature of its business for the purchase of
inventory and fixed assets and for sale of goods and services in our
opinion there is no weakness in internal control system.
v) The Company has not entered into any transaction that need to be
entered into a register in pursuance of section 301 of the Act and so
paragraphs 4 (v) (a) and 4 (v) (b) of the said Order are not
applicable.
vi) The Company has not accepted any deposits from the public and thus
paragraph 4 (vi) of the said Order is not applicable.
vii) The Company is having internal audit system commensurate with the
size of the Company.
viii) The activities carried on by the Company are not covered for
maintenance of cost records under Section 209(1)(d) of the Act.
ix) (a) The statutory dues payable by the Company comprises of
income-tax, tax deducted at source and profession tax only. According
to the records of the Company, it is observed the Company has deposited
its dues with appropriate authorities.
No undisputed amounts in respect of the statutory dues referred to the
above were outstanding as at 31st March, 2010 for a period of more than
six months from the date they became payable.
(b) There are no disputed dues and hence question of details does not
arise.
x) The Company has no accumulated losses in the immediately preceding
financial year.
xi) The Company has not obtained borrowings from financial institutions
during the year ended 31st March, 2010.
xii) Since the Company has not granted any loans or advances on the
basis of security by way of pledge of shares, debentures and other
securities paragraph 4(xii) of the said Order is not applicable.
xiii) As the Company is not a nidhi / mutual benefit fund / society to
which the provisions of special statute relating to chit fund are
applicable, paragraph 4(xiii) of the said Order is not applicable.
xiv) The Company is dealing or trading in shares, securities,
debentures and other investments and is maintaining proper records of
the transactions and contracts and making timely entries therein. The
shares, securities and debentures have been held by the Company in its
own name except to the extent of the exemption, if any, granted under
section 49 of the Act.
xv) The Company has not given any guarantee for loans taken by others
from banks or financial institutions.
xvi) The Company has not obtained term loan from Banks, hence question
of utilization does not arise.
xvii) No short term loans have been used for the acquisition of long
term investments.
xviii) As there was no allotment of shares during the year question of
preferential allotment does not arise.
xix) The Company has not issued any debentures during the year hence
question of creating security or charge does not arise.
xx) Since the Company has not raised any money by way of public issue
during the year, paragraph 4(xx) of the said Order is not applicable.
xxi) Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the year.
For and on behalf of
D.R. KOTHARI & CO.
Chartered Accountants
Firm Reg No.105301W
SD/-
D.R.KOTHARI
D.R.KOTHARI
Proprietor
Mumbai, 31st MAY 2010
Mar 31, 2002
A We have audited the attached Balance Sheet of TECHNOJET CONSULTANTS
LIMITED, Mumbai as at 31st March 2002 and also the Profit and Loss
Account of the Company for the year ended 31st March 2002 annexed
thereto. These financial statements are the responsibility of the
Companys management. Our responsibility is to express our opinion on
these financial statements based on our audit.
B We conducted our audit in accordance with auditing standards
generally accepted in India. These 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.
C As required by the Manufacturing and Other Companies (Auditors
Report) Order, 1988 issued by the Central Government in terms of
Section 227(4A) of the Companies Act, 1956 we give in 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:
1. 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.
2. 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 the
Books of account.
3. The Balance Sheet and Profit and Loss Account, dealt with by the
Report are in agreement with the Books of Account.
4. On the basis of written representations received from the Directors
as on 31st March, 2002 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2002 from being appointed as a Director in terms of Clause (g) of
sub-section 1 of Section 274 of the Companies Act, 1956.
5. In our opinion, the Profit and Loss Account and Balance Sheet
comply with the accounting standards referred to in sub-section (3C) of
section 211 of the Companies Act.
6. In our opinion and to the best of our information and according to
the explanations given to us, the accounts along with the 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 2002.
(ii) In the case of the Profit and Loss Account of the LOSS for the
year ended on that date.
ANNEXURE TO AUDITORS REPORT
Referred to in paragraph C of our Report of even date on the accounts
for the year ended on 31st March, 2002 of TECHNOJET CONSULTANTS
LIMITED.
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
All the assets have been physically verified by the Management during
the year and no material discrepancies were noticed on verification.
2. None of the Fixed Assets have been revalued during the year.
3. The Company has not obtained Loans from companies, firms or other
parties listed in the Register maintained under section 301 and 370 of
the Companies Act, 1956, under the same management under section 370(1
B) of the Companies Act, 1956, hence the question does not arise for
comment on rate of interest etc.
4. The Stock of Raw Materials, components and finished goods have been
verified by the management at reasonable intervals during the year.
5. We have been informed that no material discrepancies have been
noticed by the management on physical verification as compared to book
of records.
6. We are satisfied that the valuation of these stock is fair and
proper in accordance with the normally accepted accounting principles
and is on the same basis as in the earlier year.
7. The Company has advanced loans to Companies, firms or other parties
listed in Register maintained under section 301 and 370(1C) and/or the
Companies under the same management under section 370(1B) and
according to explanations and information given to us, rate of interest
and other terms of such loans are prima facie not prejudicial to the
interest of the Company.
8. The parties to whom loans and advances have been given are
re-paying the principal amounts as stipulated and are also regular in
payment of interest were applicable.
9. In our opinion and according to the information and explanations
given to us, there are adequate internal control procedure commensurate
with the size of the Company and the nature of its business with regard
to purchase of stores, plant and machinery equipment and sther assets
and stores for the sale of goods.
10. There are no contracts or arrangements to be entered in the
register(s) maintained under section 301 of the Companies Act, 1956 for
purchase of raw materials and goods or sale of goods.
11. As per explanations and information given to us there are no
unserviceable or damaged stores and hence question of provision does
not arise.
12.The Company has not accepted any deposits from the public.
13.As per explanations and information given to us there are no
by-products and realizable scrap.
14. The Government has not prescribed cost records under section 209(1
)(d) of the Companies Act, 1956.
15. The Companys paid-up capital at the commencement of the year is
below Rs.25 lacs and average annual turnover does not exceed Rs.2
crores, the Company does not have internal audit system.
16. We have informed that:
(i) Provident Fund Act is not applicable, as the number of employees
does not exceed 20.
(ii) The Company has been legally advised that Employees State
Insurance Scheme is not applicable. But the Company has been
voluntarily contributing to Provident Fund and payments have been
regularly made.
17.There was no amount outstanding as on 31.3.2002 in respect of
undisputed, Income-tax, Sales-tax, Custom duty and Excise Duty which
were due for more than six months from the date they became payable.
18. No personal expenses have been charged to revenue account.
19. The Company is not a Sick Industrial Company under the provisions
of Section 3(1) (0) of the Sick Industrial Companies (Special
Provisions) Act, 1985.
20. The Company has reasonable systems of:
(i) Recording receipts and issues of materials and allocating materials
consumed as well as
(ii) Allocating man-hours utilized to the relative job and
(iii) Authorization at proper levels and internal control commensurate
with the size of the Company and nature of its business.
For and on behalf of
D.R. KOTHARI & CO.
Chartered Accountants
D. R. KOTHARI
Proprietor
Mumbai - Dated 27 June, 2002.
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