Mar 31, 2012
1. We have audited the attached Balance Sheet of M/s. ZIGMA SOFTWARE
LTD. as at 31st March 2012 and Profit & Loss Account of the Company for
the year ended on that date annexed thereto. These financial
statements are the responsibility of the Company''s Management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
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 principle 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 (Auditors Report) Order 2003 as
amended by the companies (Auditor Report) (Amendment) order 2004 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 of the
matters specified in Paragraphs 4&5 ofthe said order.
4. Further to our comments in Annexure referred to in paragraph 3
above we report that: -
(i) We have obtained all the information and explanations, which, to
the best of our knowledge and belief, were necessary for the purpose of
our audit.
(ii) In our opinion, proper books of account as required by the law
have been kept by the company so far as appears from our examination of
those books and proper returns certified by the Branch Manager adequate
forthe purpose of ouraudit have been received from some ofthe branches
which have not been visited by us.
(iii) The Balance Sheet and Statement of Profit and Loss dealt with in
this report are in agreement with the Books of Account.
(iv) In our opinion the Balance Sheet and Statement of Profit and Loss
ofthe Company dealt with in this report complied with the Accounting
Standard referred to in sub Section (3C) of Section 211 ofthe Companies
Act, 1956;
(v) As per the information and explanations given to us, none of the
Directors of the Company is disqualified from being appointed as a
Director under clause (g) of sub-section (i) of section 274 of the
Companies Act, 1956;
5. In our opinion, and to the best of our information and according to
the explanations given to us, the said accounts read together with
schedules thereon and subject to Significant Accounting Policies and
notes on account given in Schedule "24" give the information required
by the Companies Act, 1956, in the manner so required and give a true
and fair view.
a) In the case of the Balance Sheet, of the State of affairs of the
company as at 31st March, 2012 and
b) In the case of the statement of Profit & Loss account, of the Loss
of the Company for the year ended on that date.
ANNEXURE TO THE AUDITOR''S REPORT OF ZIGMA SOFTWARE LIMITED
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
Fixed assets have been physically verified by the management during the
year, which in our opinion is reasonable having regards of the size of
the Company and the nature of its fixed assets.
There was no substantial disposal of fixed assets during the year,
which would affect the going concern of the Company.
2. (a) Physical Verification of Inventory has been conducted by the
Management of the Company at a reasonable interval.
(b) The procedure of physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company.
(c) The Company maintains proper records of inventory and no material
discrepancies were noticed on such physical verification.
3. As informed to us, the Company has not granted any loan, secured or
unsecured to/from companies, firms or other parties covered in the
registered maintained under Section 301 of the companies Act. 1956 and
as such clause (iii) (a) to (iii) (d) are not applicable.
4. In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business forthe purchase of inventory and fixed assets and sale of
goods and services. There is no continuing failure to correct major
weaknesses in the internal control.
5. (a) 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 the transactions that need to be entered into the
register maintained under Section 301 have been so entered.
(b) In our opinion and according to the information and explanations
given to us, the transactions with the aforesaid parties with whom
transaction exceeding value of Rupees five laks have been entered into
during the financial year are at price which are reasonable having
regard to the prevailing market price at the relevant time.
6. In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from public within
the meaning of Section 58Aand 58AA or any other provision of the
companies Act, 1956.
7. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8. To the best of our knowledge and as explained, the Central
Government has not prescribed the maintenance of cost records under
Section 209(I) (d) of the Act, 1956 for these types of companies.
9. a) According to the record of the Company, the Company is generally
regular in depositing undisputed statutory dues such as Income-tax,
sales -tax, wealth tax, customs Duty, Excise Duty, Cess, Service Tax
and other statutory dues applicable to it with the appropriate
authorities. According to the information and explanations given to us,
there are no undisputed amount payable in respect of Income Tax, wealth
tax, sales tax, customs duty, excise duty and service tax which were
outstanding, at the year end fora period or more than six months from
the date they become payable.
10. The Company''s accumulated Loss at the end of the financial year
are less than of its net worth. The Company has not incurred cash
losses in current year as well as in the immediately preceding
financial year.
11. As per books and records maintained by the company and according
to the information and explanation given to us, the company has not
defaulted in repayment of dues to a financial institution or bank or
debenture holders.
12. According to the information and explanations given to us and
based on the documents and records produced to us, the company has not
granted loans and advances on the basis of security by way of pledge of
shares, debentures and others securities.
13. In our opinion and according to the information and explanations
given to us, the nature of activities of the company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund/societies.
14. As informed and explained to us, the company has not dealt /
traded in securities or debentures during the year. In our opinion and
according to the information and explanation given to us, proper
records have been maintained of the transactions and contracts relating
to dealing/tradings in shares and other investments and timely entries
have been made therein. The shares and other investments have been held
by the company, in its own name.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by its associates
from bank or financial institutions.
16. There are term loans outstanding as at the end of the year.
17. On the basis of information received from the management and based
on our examination of the balance sheet of the Company as at March 31,
2012 we find that the funds raised on a short-term basis have not been
used for long term investment.
18. The company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under Section
301 of the Companies Act, 1956.
19. The company did not have any outstanding debentures during the
year.
20. The company has not raised any money through a public issue during
the year.
21. Based on information and explanations furnished by the management,
which have been relied upon by us, there were no frauds, on or by the
company, noticed or reported during the year.
For BIJAN GHOSH & ASSOCIATES
Chartered Accountants
(BIJAN GHOSH)
Proprietor
Membership No. 009491
Firm Regtn. No. 323214E
The 13th day of August, 2012
Kolkata
Mar 31, 2011
1. We have audited the attached Balance Sheet of M/s. ZIGMA SOFTWARE
LTD. as at 31st March 2011 and Profit & Loss Account of the Company for
the year ended on that date annexed thereto. These financial
statements are the responsibility of the Company's Management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
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 principle 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 (Auditors Report) Order 2003 as
amended by the companies (Auditor Report) (Amendment) order 2004 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 of the
matters specified in Paragraphs 4 & 5 of the said order.
4. Further to our comments in Annexure referred to in paragraph 3
above we report that: -
(i) We have obtained all the information and explanations, which, to
the best of our knowledge and belief, were necessary for the purpose of
our audit.
(ii) In our opinion, proper books of account as required by the law
have been kept by the company so far as appears from our examination of
those books and proper returns certified by the Branch Manager adequate
for the purpose of our audit have been received from some of the
branches which have not been visited by us.
(iii) The Balance Sheet and Profit and Loss Account dealt with in this
report are in agreement with the Books of Account.
(iv) In our opinion the Balance Sheet and Profit and Loss Account of
the Company dealt with in this report complied with the Accounting
Standard referred to in sub Section (3C) of Section 211 of the
Companies Act, 1956;
(v) As per the information and explanations given to us, none of the
Directors of the Company is disqualified from being appointed as a
Director under clause (g) of sub-section (i) of section 274 of the
Companies Act, 1956;
5. In our opinion, and to the best of our information and according to
the explanations given to us, the said accounts read together with
schedules thereon and subject to Significant Accounting Policies and
notes on account given in Schedule "M" give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view.
a) In the case of the Balance Sheet, of the State of affairs of the
company as at 31st March, 2011 and
b) In the case of the Profit & Loss account, of the Profit of the
Company for the year ended on that date.
ANNEXURE TO THE AUDITOR'S REPORT OF ZIGMA SOFTWARE LIMITED
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
Fixed assets have been physically verified by the management during the
year, which in our opinion is reasonable having regards of the size of
the Company and the nature of its fixed assets.
There was no substantial disposal of fixed assets during the year,
which would affect the going concern of the Company.
2. (a) Physical Verification of Inventory has been conducted by the
Management of the Company at a reasonable interval.
(b) The procedure of physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company.
(c) The Company maintains proper records of inventory and no material
discrepancies were noticed on such physical verification.
3. As informed to us, the Company has not granted any loan, secured or
unsecured to/from companies, firms or other parties covered in the
registered maintained under Section 301 of the companies Act. 1956 and
as such clause (iii) (a) to (iii) (d) are not applicable.
4. In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business for the purchase of inventory and fixed assets and sale of
goods and services. There is no continuing failure to correct major
weaknesses in the internal control.
5. (a) 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 the transactions that need to be entered into the
register maintained under Section 301 have been so entered.
(b) In our opinion and according to the information and explanations
given to us, the transactions with the aforesaid parties with whom
transaction exceeding value of Rupees five laks have been entered into
during the financial year are at price which are reasonable having
regard to the prevailing market price at the relevant time.
6. In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from public within
the meaning of Section 58A and 58AA or any other provision of the
companies Act, 1956.
7. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8. To the best of our knowledge and as explained, the Central
Government has not prescribed the maintenance of cost records under
Section 209(1) (d) of the Act, 1956 for these types of companies.
9 According to the record of the Company, the Company is generally
regular in depositing undisputed statutory dues such as Income-tax.
sales-tax, wealth tax, customs Duty, Excise Duty, Cess, Service Tax and
other statutory dues applicable to it with the appropriate authorities.
According to the information and explanations given to us, there are no
undisputed amount payable in respect of income Tax, wealth tax, sales
tax, customs duty, excise duty and service tax which were outstanding,
at the year end for a period or more than six months from the date they
become payable.
10. The Company's accumulated Loss at the end of the financial year
are less than of its net worth. The Company has not incurred cash
losses in current year as well as in the immediately preceding
financial year.
11. As per books and records maintained by the company and according
to the information and explanation given to us, the company has not
defaulted in repayment of dues to a financial institution or bank or
debenture holders.
12. According to the information and explanations given to us and
based on the documents and records produced to us, the company has not
granted loans and advances on the basis of security by way of pledge of
shares, debentures and others securities.
13. In our opinion and according to the information and explanations
given to us, the nature of activities of the company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund/societies.
14. As informed and explained to us, the company has not dealt /
traded in securities or debentures during the year. In our opinion and
according to the information and explanation given to us, proper
records have been maintained of the transactions and contracts relating
to dealing/trading in shares and other investments and timely entries
have been made therein. The shares and other investments have been held
by the company, in its own name.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by its associates
from bank or financial institutions.
16. There are term loans outstanding as at the end of the year.
17. On the basis of information received from the management and based
on our examination of the balance sheet of the Company as.at March 31,
2011 we find that the funds raised on a short-term basis have not been
used for long term investment.
18. The company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under Section
301 of the Companies Act, 1956.
19. The company did not have any outstanding debentures during the
year.
20. The company has not raised any money through a public issue during
the year.
21. Based on information and explanations furnished by the management,
which have been relied upon by us, there were no frauds, on or by the
company, noticed or reported during the year.
For BIJAN GHOSH & ASSOCIATES
Chartered Accountants
(BIJAN GHOSH)
Proprietor
Membership No. 009491
Firm Regtn. No. 323214E
The 3rd day of September, 2011
Kolkata
Mar 31, 2010
1. We have audited the attached Balance Sheet of M/s. ZIGMA SOFTWARE
LTD. as at 31st March 2010 and Profit & Loss Account of the Company for
the year ended on that date annexed thereto. These financial
statements are the responsibility of the Companys Management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
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 principle 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 (Auditors Report) Order 2003 as
amended by the companies (Auditor Report) (Amendment) order 2004 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 of the
matters specified in Paragraphs 4 & 5 of the said order.
4. Further to our comments in Annexure referred to in paragraph 3
above we report that: -
(i) We have obtained all the information and explanations, which, to
the best of our knowledge and belief, were necessary for the purpose of
our audit.
(ii) In our opinion, proper books of account as required by the law
have been kept by the company so far as appears from our examination of
those books and proper returns certified by the Branch Manager adequate
for the purpose of our audit have been received from some of the
branches which have not been visited by us.
(iii) The Balance Sheet and Profit and Loss Account dealt with in this
report are in agreement with the Books of Account.
(iv) In our opinion the Balance Sheet and Profit and Loss Account of
the Company dealt with in this report complied with the Accounting
Standard referred to in sub Section (3C) of Section 211 of the
Companies Act, 1956;
(v) As per the information and explanations given to us, none of the
Directors of the Company is disqualified from being appointed as a
Director under clause (g) of sub-section (i) of section 274 of the
Companies Act, 1956;
5. In our opinion, and to the best of our information and according to
the explanations given to us, the said accounts read together with
schedules thereon and subject to Significant Accounting Policies and
notes on account given in Schedule "M" give the information required by
the Companies Act, 1956, in the manner so required and give a true and
fair view.
a) In the case of the Balance Sheet, of the State of affairs of the
company as at 31st March, 2010 and
b)In the case of the Profit & Loss account, of the Profit of the
Company for the year ended on that date.
ANNEXURE TO THE AUDITORS REPORT OF ZIGMA SOFTWARE LIMITED
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
Fixed assets have been physically verified by the management during the
year, which in our opinion is reasonable having regards of the size of
the Company and the nature of its fixed assets.
There was no substantial disposal of fixed assets during the year,
which would affect the going concern of the Company.
2. (a) Physical Verification of Inventory has been conducted by the
Management of the Company at a reasonable interval.
(b) The procedure of physical verification of inventory followed by the
Management are reasonable and adequate in relation to the size of the
Company.
(c) The Company maintains proper records of inventory and no material
discrepancies were noticed on such physical verification.
3. As informed to us, the Company has not granted any loan, secured or
unsecured to/from companies, firms or other parties covered in the
registered maintained under Section 301 of the companies Act. 1956 and
as such clause (iii) (a) to (iii) (d) are not applicable.
4. In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business for the purchase of inventory and fixed assets and sale of
goods and services. There is no continuing failure to correct major
weaknesses in the internal control.
5. (a) 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 the transactions that need to be entered into the
register maintained under Section 301 have been so entered.
(b) In our opinion and according to the information and explanations
given to us, the transactions with the aforesaid parties with whom
transaction exceeding value of Rupees five laks have been entered into
during the financial year are at price which are reasonable having
regard to the prevailing market price at the Relevant time.
6. In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from public within
the meaning of Section 58A and 58AA or any other provision of the
companies Act, 1956.
7. In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
8. To the best of our knowledge and as explained, the Central
Government has not prescribed the maintenance of cost records under
Section 209(1) (d) of the Act, 1956 for these types of companies.
9. a) According to the record of the Company, the Company is generally
regular in depositing undisputed statutory dues such as Income-tax,
sales-tax, wealth tax, customs Duty, Excise Duty, Cess, Service Tax and
other statutory dues applicable to it with the appropriate authorities.
According to the information and explanations given to us, there are no
undisputed amount payable in respect of Income Tax, wealth tax, sales
tax, customs duty, excise duty and service tax which were outstanding,
at the year end for a period or more than six months from the date they
become payable.
10. The Companys accumulated Loss at the end of the financial year
are less than of its net worth. The Company has not incurred cash
losses in current year as well as in the immediately preceding
financial year.
11. As per books and records maintained by the company and according
to the information and explanation given to us, the company has not
defaulted in repayment of dues to a financial institution or bank or
debenture holders.
12. According to the information and explanations given to us and
based on the documents and records produced to us, the company has not
granted loans and advances on the basis of security by way of pledge of
shares, debentures and others securities.
13. In our opinion and according to the information and explanations
given to us, the nature of activities of the company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund/societies.
14. As informed and explained to us, the company has not dealt /
traded in securities or debentures during the year. In our opinion and
according to the information and explanation given to us, proper
records have been maintained of the transactions and contracts relating
to dealing/tradings in shares and other investments and timely entries
have been made therein. The shares and other investments have been held
by the company, in its own name.
15. According to the information and explanations given to us, the
company has not given any guarantee for loans taken by its associates
from bank or financial institutions.
16. There are term loans outstanding as at the end of the year.
17. On the basis of information received from the management and based
on our examination of the balance sheet of the Company as at March 31,
2010 we find that the funds raised on a short-term basis have not been
used for long term investment.
18. The company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under Section
301 of the Companies Act, 1956.
19. The company did not have any outstanding debentures during the
year.
20. The company has not raised any money through a public issue during
the year.
21. Based on information and explanations furnished by the management,
which have been relied upon by us, there were no frauds, on or by the
company, noticed or reported during the year.
For BIJAN GHOSH & ASSOCIATES
Chartered Accountants
(BIJAN GHOSH)
Proprietor
Membership No. 009491
Firm Regtn. No. 323214E
The 3rd day of September, 2010
Kolkata