Mar 31, 2014
We have audited the accompanying financial statements of UNIMODE
OVERSEAS LIMITED ("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"). This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion. Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2014 ;
b) in the case of the Statement of Profit and Loss Account, of the
profit of the Company for the year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4A) of section 227 of the Act, 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 subsection (3C) of section 211 of the Companies Act, 1956;
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 Directors in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
Annexure to the Auditors Report - March 31, 2014
THE ANNEXURE REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING "REPORT ON
OTHER LEGAL AND REGULATORY REQUIREMENTS" OF THE OUR REPORT OF EVEN
DATE TO THE MEMBERS OF M/S UNIMODE OVERSEAS 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. (a) As explained to us, inventories have been physically verified by
the management at reasonable intervals during the year.
(b) In our opinion and according to the information and explanations
given to us, 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) In our opinion and on the basis of our examination of the records,
the company is generally maintaining proper records of its inventories.
No material discrepancy was noticed on physical verification of stocks
by the management as compared to book records.
3. (a) According to the information and explanation given to us and on
the basis of examination of the books of account, the Company has 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 claus iii (b), iii
(c) and iii (d) of the order are not applicable to the company.
(e) According to the information and explanation given to us and on the
basis of examination of the books of account, the Company has 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. Thus sub clauses (f) to (g) are not applicable to
the Company.
4. In our opinion and according to the information and explanations
given to us, there is generally an adequate internal control procedure
commensurate with the size of the Company and nature of its business,
for the purchase of inventories & fixed assets and payment for expenses
& for sale of goods. During the course of our audit, no major instance
of continuing failure to correct any weaknesses in the internal
controls has been noticed.
5. (a) Based on the Audit procedures applied by us and according to the
information and explanations provided by the management, the
particulars of contracts or arrangements referred to in Section 301 of
the Act have been entered in the register required to be maintained
under that section.
(b) As explained to us , the transactions made in pursuance of
contracts or arrangements entered in theregister maintained under
section 301 of the Companies Act, 1956 and exceeding during the year to
Rs.5,00,000/- or more in respect of each party have been made at prices
which are reasonable having regard to the prevailing market prices as
available with the company.
6. The company has not accepted any deposits from the public covered
under section 58A and 58AA of the Companies Act, 1956.
7. As per information & explanation given by the management, the
company has an internal Audit System commensurate with the size of the
Company and the nature of its business.
8. As per information & explanation given by the management,
maintenance of cost records has been prescribed by the Central
Government under section 209(1)(d) of the Companies Act, 1956 and we
are of the opinion that prima facie the prescribed accounts and records
have been made and maintained.
9. (a) According to the records of the company, undisputed statutory
dues including Provident Fund, Investor Education Protection Fund,
Employees State Insurance, Income-Tax, Sales-Tax, Wealth Tax, Service
Tax, Custom Duty, Excise Duty, cess to the extent applicable and any
other statutory dues have generally been regularly deposited with the
appropriate authorities. According to the information and explanations
given to us there were no outstanding statutory dues as on 31st march,
2014 for a period of more than six months from the date they became
payable.
(b) according to the information and explanations given to us, there is
no amounts payable in respect of income tax, wealth tax, service tax ,
sales tax, customs duty and excise duty which have not been deposited
on account of any disputes.
10. The company does not have any accumulated loss and has not incurred
cash loss during the financial year covered by our audit and in the
immediately preceding financial year.
11. Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that, the
company has not defaulted in repayment of dues to a financial
institution or bank or debenture holder.
12. According to the information and explanations given to us, the
company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities.
13. The company is not a Chit Fund or a Nidhi/mutual benefit
fund/Society. Therefore, the provision of this clause of the Companies
(Auditor''s Report) order, 2003 ( as amended) is not applicable to the
company.
14. According to the information and explanations given to us, the
company is trading in shares, Mutual funds and other investments.
Proper records & timely entries have been maintained in this regard &
further investments specified are held in their own name.
15. According to the information and explanations given to us, the
company has not given guarantees for loan taken by others from a bank
or financial institution.
16. Based on our audit procedures and on the information given by the
management, we report that the company has not raised any term loans
during the year.
17. Based on the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company as at 31st
March, 2014, we report that no funds raised on short-term basis have
been used for long-term investment by the company.
18. Based on audit procedures performed and the information and
explanations given to us by the management, we report that the company
has not made any preferential allotment of shares during the year.
19. The company has no outstanding debentures during the period under
audit.
20. The company has not raised any money by a public issue during the
year.
21. Based on the audit procedures performed and the information and
explanations given to us, we report that no fraud on or by the company
has been noticed or reported during the year, nor have we been informed
of such case by the management.
For: K. L. Datta and Co.
CHARTERED ACCOUNTANTS
FRN: 001127C
(V.K. Datta)
(Partner)
M. NO. 070466
PLACE: NEW DELHI
DATED: 30/05/2014
Mar 31, 2013
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of Unimode
Overseas Limited ("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 judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
OPINION
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted In
India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31st, 2013;
b) in the case of the Statement of Profit and Loss, of the Loss for the
year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. As required by the Companies (Auditor''s Report) Order, 2003 ("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
subsection (3C) of section 211 of the Companies Act, 1956;
e) On the basis of representations received from the Directors as on
March 31st, 2013, and taken on record by the Board of Directors, none
of the Directors is disqualified as on March 31st, 2013, from being
appointed as a Director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
The Annexure referred to in paragraph 1 under the heading "Report on
Other Legal and Regulatory Requirements" of the Our Report of even date
to the members of M/s Unimode Overseas Limited on the accounts of the
company for the year ended 31" 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. (a) As explained to us, inventories have been physically verified
during the year by the management at reasonable intervals.
(b) In our opinion and according to the information and explanations
given to us, 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) In our opinion and on the basis of our examination of the records,
the Company is generally maintaining proper records of its inventories.
No material discrepancy was noticed on physical verification of stocks
by the management as compared to book records.
3. (a) According to the information and explanations given to us and
on the basis of our examination of the books of account, the Company
has 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) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
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 and according to the information and explanations
given to us, there is generally an 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. During the course of our audit, no
major instance of continuing failure to correct any weaknesses in the
internal controls has been noticed.
5. a) Based on the audit procedures applied by us and according to the
information and explanations provided by the management, the
particulars of contracts or arrangements referred to in section 301 of
the Act have been entered in the register required to be maintained
under that section,
b) As per information & explanations given to us and in our opinion,
the transaction entered into by the company with parties covered u/s
301 of the Act does not exceeds five lacs rupees in a financial year
therefore requirement of reasonableness of transactions does not
arises.
6. The Company has not accepted any deposits from the public covered
under section 58A and 58AA of the Companies Act, 1956.
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 per information & explanation given by the management,
maintenance of cost records has been prescribed by the Central
Government under clause (d) of sub-section (1) of section 209 of the
Act and we are of the opinion that prima facie the prescribed accounts
and records have been made and maintained.
9. (a) According to the records of the company, 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 to the extent applicable and any
other statutory dues have generally been regularly deposited with the
appropriate authorities. According to the information and explanations
given to us there were no outstanding statutory dues as on 31st of
March, 2013 for a period of more than six months from the date they
became payable, (b) According to the information and explanations given
to us, there is no amounts payable in respect of income tax, wealth
tax, service tax, sales tax, customs duty and excise duty which have
not been deposited on account of any disputes.
10. The Company does not have any accumulated loss and has not
incurred cash loss during the financial year covered by our audit and
in the immediately preceding financial year.
11. Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that, the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
12. According to the information and explanations given to us, the
Company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities.
14. The Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore, the provision of this clause of the Companies
(Auditor''s Report) Order, 2003 (as amended) is not applicable to the
Company.
14. According to information and explanations given to us, the Company
is trading in Shares, Mutual funds & other Investments. Proper records
& timely entries have been maintained in this regard & further
investments specified are held in their own name.
15. According to the information and explanations given to us, the
Company has not given any guarantees for loan taken by others from a
bank or financial institution.
16. Based on our audit procedures and on the information given by the
management, we report that the company has not raised any term loans
during the year.
17. Based on the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company as at 31st
March, 2013, we report that no funds raised on short-term basis have
been used for long-term investment by the Company.
18. Based on the audit procedures performed and the information and
explanations given to us by the management, we report that the Company
has not made any preferential allotment of shares during the year.
19. The Company has no outstanding debentures during the period under
audit.
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 to us, we report that no fraud on or by the Company
has been noticed or reported during the year, nor have we been informed
of such case by the management.
For K.L. Datta & Company
Chartered Accountants
(V. K. Datta)
Place: New Delhi Partner
Date : 19.07.2013 Membership No.: 070466
Mar 31, 2011
1. We have audited the attached Balance Sheet of M/S UNIMODE OVERSEAS
LIMITED, as at 31st March 2011, and also the Profit & Loss Account for
the year ended on that date annexed thereto. These financial statements
are the responsibility of the Company's management. Our
responsibility is to express an opinion on these 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 the 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
issued by the Central Government of India in terms of sub-section (4A)
of section 227 of the Companies Act, 1956, and on the basis of such
checks of the books of records as we considered appropriate and
according to the information and explanations given to us during the
course of our audit. We give the Annexure a statement on 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
Books of Account.
c) The Balance Sheet and Profit and Loss Account deal with by this
report are in agreement with the Books of Account.
d) In our opinion and according to the explanations given to us, 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, 1956.
e) On the basis of written representations received from Directors,
taken on record by the Board of Directors, none of the directors are
disqualified under section 274(1)(g) of the Companies At, 1956 from
being appointed as directors as on 31.03.2011.
f) In our opinion and to the best of our information and according to
the explanations given to us the account read 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, and ;
ii) In the case of the Profit & Loss Account of the Profit for the year
ended on that date.
ANNEXURE TO THE AUDITOR'S REPORT
(Referred to in paragraph 3 of our Report of even date)
1. In respect of its fixed assets:
(a) The Company has not maintained Fixed Assets records, as no Fixed
Assets are owned by the Company, as per its Balance Sheet.
(b) No Fixed Assets can be verified by the Company's Management in
absence of any Fixed Assets during the year under review.
(c) There is no Fixed Assets owned by the Company but the going concern
status of the Company is not affected.
2. In respect of its inventories:
(a) The Inventory has been physically verified during the year by the
management. In our opinion, the frequency of verification is
reasonable.
(b) The procedures followed by the management for physical verification
of stocks appears to be reasonable and adequate in relation to the size
of the Company and nature of its business.
(c ) On the basis of our examination of the records of inventory, we
are of the opinion that the Company is maintaining proper records of
inventory. The discrepancies noticed on verification between the
physical stocks and the books records were not material.
3. The Company has not taken any loans from the Companies, firms or
other parties under section 372A of the Companies Act, 1956. As
explained to us there is no Company under the same management.
4. The Company has not granted any loans to Companies, firms or other
parties listed in the register maintained under section 301 of the
Companies Act,1956.
5. No Loans and Advances in the nature of loans have been given by the
Company.
6. The internal control procedure for the purchases of raw materials,
Plant & Machinery and equipment and other assets and for the sale of
goods are in our opinion and according to the information and
explanations given to us, adequate commensurate with the size of the
Company and nature of its business.
7. The Companies has not accepted any deposited under Section 58 A of
the Companies Act,1956.
8. In our opinion, the Company has an internal control/audit system
commensurate with the size and nature of its business.
9. The Central Govt. has not prescribed maintenance of cost records
under Section 209(1) (d) of the Companies Act,1956 for any of the
products of the Company.
10. (a) According to the records of the Company, the Company is
regular in depositing with appropriate authorities undisputed statutory
dues including provident fund, employees' state insurance, income
tax, sales tax, excise duty, cess and other statutory dues applicable
to it, wherever applicable.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of Income Tax, Sales Tax, cess
and excise duty, which were outstanding as at 31st March,2011 for a
period more than six months from the date they become payable.
11. Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
company has not defaulted in repayment of dues to a financial
institution or banks.
12. The Company has not given any guarantee for loans taken by others
from bank or financial institution.
13. 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 have been raised on short-term basis have been used for
long-term investment. No long-term funds have been used to finance
short-term assets except working capital.
14. The Company is not a Sick Industrial Company within the meaning of
Clause(i) of sub section 3(1)(o) of the Sick Industrial Companies
(Special Provisions) Act, 1985.
15. 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 course of our
audit.
For K.L. Datta & Company
Chartered Accountants
Place : New Delhi (V. K. Datta)
Date : 11th May 2011 Partner
Mar 31, 2010
1. We have audited the attached Balance Sheet of M/S UNIMODE OVERSEAS
LIMITED, as at 31st March 2010, and also the Profit & Loss Account 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.
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 the 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 (Auditors Report) order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
section 227 of the Companies Act, 1956, and on the basis of such checks
of the books of records as we considered appropriate and according to
the information and explanations given to us during the course of our
audit. We give the Annexure a statement on 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 :he Company, so far as appears from our examination of
Books of Account.
c) The Balance Sheet and Profit and Loss Account deal with by this
report are in agreement with the Books of Account.
d) In our opinion and according to the explanations given to us, 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, 1956.
e) On the basis of written representations received from Directors,
taken on record by the Board of Directors, none of the directors are
disqualified under section 274(1 )(g) of the Companies At, 1956 from
being appointed as directors as on 31,03,2010.
f) In our opinion and to the best of our information and according to
the explanations given to us the account read 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, and ;
ii) In the case of the Profit & Loss Account of the Profit for the year
ended on that date,
ANNEXURE TO THE AUDITORS REPORT (Referred to in paragraph 3 of our
Report of even date)
1. In respect of its fixed assets:
(a) The Company has not maintained proper records, as no Fixed Assets
are recorded by the Company.
(b) No Fixed Assets were verified by the Companys Management in
absence of any Fixed Assets during the year under review,
(c) The Company has not disposed any of its fixed assets during the
year and the going concern status of the Company is not affected.
2. In respect of Its inventories:
(a) The Inventory has been physically verified during the year by the
management. In our opinion, the frequency of verification is
reasonable.
(b) The procedures followed by the management for physical verification
of stocks are reasonable and adequate in relation to the size of the
Company and nature of its business.
(c) On the basis of our examination of the records of inventory, we are
of the opinion that the Company is maintaining proper records of
inventory. The discrepancies noticed on verification between the
physical stocks and the books records were not material.
3. The Company has not taken any loans from the Companies, firms or
other parties under section 372A of the Companies Act, 1956. As
explained to us there is no Company under the same management.
4. The Company has not granted any loans to Companies, firms or other
parties listed in the register maintained under section 301 of the
Companies Act.1956.
5. No Loans and Advances in the nature of loans have been given by the
Company.
6. The internal control procedure for the purchases of raw materials,
Plant & Machinery and equipment and other assets and for the sale of
goods are in our opinion and according to the information and
explanations given to us, adequate commensurate with the size of the
Company and nature of its business.
7. The Companies has not accepted any deposited under Section 58 A of
the Companies Act, 1956.
8. In our opinion, the Company has an internal control/audit system
commensurate with the size and nature of its business.
9. The Central Govt, has not prescribed maintenance of cost records
under Section 209(1) (d) of the Companies Act, 1956 for any of the
products of the Company.
10. (a) According to the records of the Company, the Company is
regular in depositing with appropriate authorities undisputed statutory
dues including provident fund, employees state insurance, income tax,
sales tax, excise duty, cess and other statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income Tax, Sales Tax, cess
and excise duty, which were outstanding as at 31st March,2010 for a
period more than six months from the date they become payable.
11. Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
company has not defaulted in repayment of dues to a financial
institution or banks.
12. The Company has not given any guarantee for loans taken by others
from bank or financial institution.
13. 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 have been raised on short-term basis have been used for
long-term investment. No long-term funds have been used to finance
short-term assets except working capital.
14. The Company is not a Sick Industrial Company within the meaning of
Clause(i) of sub section 3(1 )(o) of the Sick Industrial Companies
(Special Provisions) Act, 1985.
15. 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 course of our
audit.
For K.L. Datta & Company
Chartered Accountants
Place: New Delhi (V. K. Datta)
Date : 28th July 2010 Partner
Mar 31, 2009
We have audited the attached Balance Sheet of UNIMODE OVERSEAS LIMITED
as at 31st March 2009 and the Profit & Loss Account and also the Cash
Flow Statement for the year ended on that date annexed thereto. We also
state that these financial statements are the responsibility of the
Company management and our responsibility is to express an opinion on
these financial statements based on our audit. As far the scope and
basis of our opinion, we state that we have conducted our audit in
accordance with auditing standards generally accepted in India and
obtained reasonable assurance about whether the financial statements
are free of material misstatements. Our audit includes, wherever
necessary, examining on a test basis, the evidence supporting the
amounts and disclosures in the financial statements and also including
assessing adherence to the accounting principles and significant
estimates made by management, as well as evaluating the overall
financial statements presentation. We believe that our audit provides a
reasonable basis for our opinion. We report as follows:
1. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of section 227 (4A) of the
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified on paragraphs 4 & 5 of the said order.
2. 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
Books;
c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of accounts;
d) In our opinion and according to the explanations given to us, the
Profit and Loss Account, the Cash Flow Statement and the Balance Sheet
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 31st March2009 and taken on record by the Board of Directors,
our opinion, and explanations given to us, none of the directors are
disqualified as on 31st March 2009 from being appointed as directors
in terms of clause (g) of sub-section (1) of Section 274 of the
Companies Act1956.
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts together with the notes
thereon, subject to note No. 5 of Significant Accounting Policies and
note No.11,12 of Financial Note on Accounts as on date 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, 2009, and
ii) In the case of the Profit & Loss Account, of the Profit for the
year ended on that date.
iii) In the case of the Cash Flow Statement, of the cash flow for the
ended on that date.
ANNEXURE TO THE AUDITORS REPORT
(Referred to in paragraph 1 of our report of even date)
1. (a) The Company has maintained proper records showing full
particulars, including Quantitative details and situation of fixed
assets.
(b) No Fixed Assets were verified by the companys Management in
absence of any fixed assets during the year under
(c) We draw attention to our comments in Para 2 (f) in our audit report
of even date regarding sale of entire fixed assets by the company and
have the substantial doubt on going concern as a result of such sale.
2. No Comments are required on physical verification of stock in
absence of such stock.
3. The Company has not granted/taken any loans secured or unsecured
to/from Companies, Firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956.
4. The Company has not given Loans or Advances in the nature of loans
who are repaying the principal amount as per the policy of the Company.
No interest is recovered on such loans or advances.
5. No Comments are required on internal control procedure in absence
of any Commercial activity
6. (a) According to the information and explanations given to us there
are no transactions made in pursuance of contracts or arrangements,
that need to be entered into the register maintained under section 301,
of the Companies Act, 1956 have been recorded in the register;
(b) According to the information and explanations given to us, the no
transactions have been made referred to under sub clause (a) above
which exceed Rs. 5,00,000/- in each case .
7. The Company has not accepted any deposits from the public and
consequently the provisions of Section 58-A of the Companies Act, 1956
and the Companies (Acceptance of Deposit) Rules 1975 are not
applicable. We are informed that the Company Law Board has passed no
order in this regard.
8. The Company do not have any internal audit system in absence of any
commercial activities.
9. The Central Government has not prescribed maintenance of cost
records under section 209 (I) (d) of the Companies Act, 1956 for any of
the products of the Company.
10. During the year under review, we are informed that the company has
no employee on its payroll and as such provisions of ESI and EPF are
not applicable to this company during the year under review.
a. According to the information and explanations given to us there are
no dues of Sales tax, custom duty, wealth tax, excise duty and cess.
11. The Company is a Sick Industrial Company within the meaning of
Clause (o) of sub Section (1) of Section (3) and accumulated loss of
the Company is more than 50% of its net worth and the Company is
treated as a Sick Industrial Company as per the provision of the Sick
Industrial Companies (Specials Provisions) Act, 1985.
12. The Company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities
and therefore the question of maintenance of documents and records in
respect thereof does not arise.
13. In our opinion, the Company is not a chit fund, nidhi, mutual
benefit or a society. Therefore, the provisions of clause 4 (xiii) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
14. In our opinion the Company is not dealing in shares, debentures
and other investments. Accordingly, the provisions of clause 4 (xiv) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
15. According to the information and explanations given to us and 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
investments. No long term funds have been used to finance short term
investments assets except permanent working capital.
16. In our opinion, the Company has not made any preferential
allotment of shares to parties and Companies covered in the Register
maintained under section 301 of the Companies Act, 1956.
17. The Company has not issued or raised money through debentures.
18. The Company has not raised any money through public issue during
the year under review.
19. 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 K.L Datta & Company
Chartered Accountants
Place: New Delhi (V.K. Datta)
Date : 1a September 2009 Partner