Mar 31, 2014
We have audited the accompanying financial statements of M/s Hittco
Tools Limited ("the Company"), which comprises the Balance Sheet as at
31st March 2014, the Statement of Profit and Loss of the Company for
the year then ended, the Cash Flow Statement of the Company 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 13th September. 2013 of Ministry of Corporate Affairs in
respect of Section 133 of the Companies Act, 2013. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor''s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements give the information
required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in
India:
(i) in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March 2014;
(ii) in the case of the Statement of Profit and Loss, of the loss for
the year ended on that date; and
(iii) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order"), as amended, issued by the Central Government of India in terms
of sub-section (4A) of section 227 of the Act, we give in the Annexure
a statement on the matters specified in paragraphs 4 and 5 of the
Order.
2. As required by section 227(3) of the Act, we report that:
a. we have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. in our opinion proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c. the Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement dealt with by this report are in agreement with the books of
account; and
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 read with the
General Circular 15/2013 dated 13th September. 2013 of Ministry of
Corporate Affairs in respect of Section 133 of the Companies Act, 2013.
e. on the basis of written representations received from the directors
as on 31 March 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on 31st March 2013, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
For S.Janardhan and Associates
Chartered Accountants
Firm Registration No. 005310S
B.Anand
Partner
Membership Number: 029146
Place: Bangalore
Date :28.05.2014
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of M/s Hittco
Tools Limited ("the Company"), which comprises the Balance Sheet as
at 31st March 2013, the Statement of Profit and Loss of the Company for
the year then ended, the Cash Flow Statement of the Company 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 state-
ments that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with
the Ac- counting 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 prepa- ration 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 state-
ments 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 require-
ments 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 proce-
dures 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:
(i) in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March 2013;
(ii) in the case of the Statement of Profit and Loss, of the loss for
the year ended on that date; and
(iii) in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003
("the Order"), as amended, issued by the Central Government of
India in terms of sub-section (4A) of section 227 of the Act, we give
in the Annexure a statement on the matters specified in para- graphs 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; and
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 direc-
tors as on 31 March 2013, and taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March 2013,
from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956.
For S.Janardhan and Associates
Chartered Accountants
Firm Registration No. 005310S
B.Anand
Partner
Membership Number: 029146
Place: Bangalore
Date :25.05.2013
Mar 31, 2012
1. We have audited the attached Balance Sheet of M/s. Hittco Tools
Limited, Bangalore 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 an opinion on these
financial statements based on our audit.
2. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (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 in paragraph 4 and 5 of the said Order.
4. Further to our comments in Annexure referred to in paragraph 3
above:-
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 as far as appears from our examination of the
books.
c) The Balance Sheet and Profit and Loss Account referred to in this
report are in agreement with books of Accounts.
d) In our opinion, the Balance Sheet and the Profit & 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 the written representations received from the
Directors, as on March 31, 2012 and taken on record by the Board of
Directors, we report that none of the directors is disqualified from
being appointed as Director in terms of clause (g) of sub section (1)
of Section 274 of the Companies Act 1956.
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read with Accounting
Poli- cies and Notes on Accounts thereon, gives 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 Profit of the
company for the year ended on that date.
iii) in the case of Cash Flow Statement, of Cash Flows for the year
ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE
Re: HITTCO TOOLS LIMITED
1 . The Company has maintained proper records showing full particulars,
including quantitative details and situation, of fixed assets. Physical
verification of fixed assets is performed by the management in
accordance with a rotational plan, which is intended to cover all the
fixed assets of the company over a period of two years. We are informed
that no material discrepancies were noted, during the course of such
verification. In our opinion, the frequency of such verification is
reasonable. There was no substantial disposal and additions of fixed
assets during the year.
2. The management has conducted physical verification of inventory at
reasonable intervals during the year. The procedures of physical
verification of inventory (except for goods in bond and in transit)
followed by the management are reasonable and adequate in relation to
the size of the company and the nature of its business. The company is
maintaining proper records of inventory and no material discrepancies
were noticed on physical verification.
3. In our opinion, based on the information and explanation furnished,
the amount advanced to the Companies, firms or other parties listed in
the register maintained under section are not prejudicial to the
interest of the Company.
4. According to the information and explanation given to us,
transactions that need to be entered into register in pursuance of
section 301 of the Act have been so entered.
5. In our opinion and based on our audit, internal control procedure
has to be strengthened with the size of the Company and nature of its
business.
6. The Company has not accepted any deposits from the public during
the year under review. The company has accepted unsecured loan from
directors and shareholders.
7. The Central Government has not prescribed maintenance of cost
records by the company under section 209(1 )(d) of the Act.
8. According to the records of the company, the company is generally
regular in depositing undisputed statutory dues including withholding
of taxes, provident fund, employees state insurance, income tax, sales
tax, wealth tax, custom duty and other statutory dues applicable to it
with the appropriate authorities. According to the information and
explanations given to us no undisputed amounts payable in respect of
income tax, wealth tax, sales tax, custom duty and excise duty were
outstanding, at the year end for a period of more than six months from
the date they became payable.
9. The Company has accumulated losses at the end of the financial year
and it has not incurred cash losses in the current financial year and
not incurred cash losses in the immediately preceding financial year.
10. 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 other securities.
11. In our opinion, the company is not a chit fund or a nidhi/mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
12. In our opinion, the Company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditor's Report) Order,
2003 are not applicable to the Company.
13. According to the information and explanation given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
14. Based on information and explanations given to us by the
management, term loans were applied for the purpose for which the loans
were obtained.
15. According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the company, we report
that no funds raised on short term basis have been used for long term
investment and no long term funds have been used to finance short term
assets (excludes permanent working capital).
16. The company did not have any outstanding debentures during the
year.
17. The Company has not raised any money by way of public issue during
the year.
18. Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statement and as per
the 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 SUDHAKAR HEGDE & CO.,
Chartered Accountants,
K.SudhakarHegde
Proprietor
Membership No.: 200007
Place Bangalore
Date: 09.07.2012
Mar 31, 2011
1 . We have audited the attached Balance Sheet of M/s. Hitteo Tools
Limited, Bangalore 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 an opinion on these
financial statements based on our audit.
2. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (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 it on the
matters specified in paragraph 4 and 5 of the said Order,
4. Further to our comments in annexure referred to in paragraph 3
above:-
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 is required by law have
been kept by the company as far as appears from our examination of the
books.
c) The Balance Sheet and Profit and Loss Account referred to in this
report are in agreement with books of Accounts.
d) In our opinion, the Balance Sheet and the Profit & 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 the written representations received from the
Directors, as on March 31, 2011 and taken on record by the Board of
Directors, we report that none of the directors is disqualified from
being appointed as Director in terms of clause (g) of sub section (1)
of Section 274 of the Companies Act 1956.
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read with Accounting
Poli- cies and Notes on Accounts thereon, gives 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 Profit of the
company for the year ended on that date.
iii) in the case of Cash Flow Statement, of Cash Flows for the year
ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE Re:
HITTCO TOOLS LIMITED
1. The Company has maintained proper records showing full particulars,
including quantitative details and situation, of fixed assets. Physical
veri- fication of fixed assets is performed by the management in
accordance with a rotational plan, which is intended to cover all the
fixed assets of the company over a period of two years. We are informed
that no material discrepancies were noted, during the course of such
verification. In our opinion, the frequency of such verification is
reasonable. There was no substantial disposal and additions of fixed
assets during the year.
2. The management has conducted physical verification of inventory at
reasonable intervals during the year. The procedures of physical
verifica- tion of inventory (except for goods in bond and in transit)
followed by the management are reasonable and adequate in relation to
the size of the company and the nature of its business. The company is
maintaining proper records of inventory and no material discrepancies
were noticed on physical verification.
3. In our opinion, based on the information and explanation furnished,
the amount advanced to the Companies, firms or other parties listed in
the register maintained under section are not prejudicial to the
interest of the Company.
4. According to the information and explanation given to us,
transactions that need to be entered into register in pursuance of
section 301 of the Act have been so entered.
5. In our opinion and based on our audit, internal control procedure
has to be strengthened with the size of the Company and nature-oftts
business.
6. The Company has not accepted any deposits from the public during
the year under review. The company has accepted unsecured loan from
direc- tors and shareholders.
7. The Central Government has not prescribed maintenance of cost
records by the company under section 209(1)(d) of the Act.
8. According to the records of the company, the company is generally
regular in depositing undisputed statutory dues including withholding
of taxes, provident fund, employees state insurance, income tax, sales
tax, wealth tax, custom duty and other statutory dues applicable to it
with the ap- propriate authorities. According to the information and
explanations given to us no undisputed amounts payable in respect of
income tax, wealth tax, sales tax, custom duty and excise duty were
outstanding, at the year end for a period of more than six months from
the date they became payable.
9. The Company has accumulated losses at the end of the financial year
and it has not incurred cash losses in the current financial year and
not incurred cash losses in the immediately preceding financial year.
10. 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 other securities.
11. In our opinion, the company is not a chit fund or a nidhi/mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
12. In our opinion, the Company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditor's Report) Order,
2003 are not applicable to the Company.
13. According to the information and explanation given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
14. Based on information and explanations given to us by the
management, term loans were applied for the purpose for which the loans
were ob- tained.
15. According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the company, we report
that no funds raised on short term basis have been used for long term
investment and no long term funds have been used to finance short term
assets (excludes permanent working capital).
16. The company did not have any outstanding debentures during the
year.
17. The Company has not raised any money by way of public issue during
the year.
18. Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statement and as per
the 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.
K. Sudhakar Hegde
for SUDHAKAR HEGDE & CO., Proprietor
Chartered Accountants, Membership No.: 200007
Place : Bangalore
Date : 31.05.2011
Mar 31, 2010
1 . We have audited the attached Balance Sheet of M/s. Hitteo Tools
Limited, Bangalore as at 31 st March 2010 and also the Profit and Loss
Account of the Company for the year ended on that date aim exed
thereto. These financial statements are the responsibility of the
Companys management. Our responsibility is to express an opinion on
these fir ancial statements based on our audit.
2. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis
forour opinion.
3. 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 statemei it on the
matters specified in paragraph 4 and 5 of the said Order,
4. Further to our comments in annexure referred to ir paragraph 3
above:-
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 is required by law have
been kept by the company as far as appears from our examination of the
books.
c) The Balance Sheet and Profit and LossAccount referred to in this
report are in agreement with books of Accounts.
d) In our opinion, the Balance Sheet and the Profit & Loss Account
dealt with by this report comply with the accounting standards referred
to in Section211(3C) of the Companies Act, 1956.
e) On the basis of the written representations received from the
Directors, as on March 31,2010 and taken on record by the Board of
Directors, we report that none of the directors is disqualified from
being appointed as 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 inform ation and according to
the explanations given to us, the said accounts read with Accounting
Poli- cies and Notes on Accounts thereon, gives 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 Profit of the
company for the year ended on that date.
iii) in the case of Cash Flow Statement, if Cash Flows for the year
ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE Re:
HITTCO TOOLS LIMITED
1. The Company has maintained proper records showing full particulars,
including quantitative details and situation, of fixed assets. Physical
veri- fication of fixed assets is performed by the management in
accordance with a rotational plan, which is intended to cover all the
fixed assets of the company over a period of two years. We are informed
that no material discrepancies were noted,during the courseof such
verification. In our opinion, the frequency of such verification is
reasonable. There was no substantial disposal and additions of fixed
assets during the year.
2. The management has conducted physical verification of inventory at
reasonable intervals during the year. The procedures of physical
verifica- tion of inventory (except for goods in bond and in transit)
followed by the management are reasonable and adequate in relation to
the size of the company and the nature of its business. The company is
maintaining proper records of inventory and no material discrepancies
were noticed on physical verification.
3. In our opinion, based on the information and explanation furnished,
the amount advanced to the Companies, firms or other parties listed in
the register maintained under section are not prejudicial to the
interest of the Company.
4. According to the information and explanation given to us,
transactions that need to be entered into register in pursuance of
section 301 of the Act have been so entered.
5. In our opinion and based on our audit, internal control procedure
has to be strengthened with the size of the Company and nature-oftts
business.
6. The Company has not accepted any deposits from the public during
the year under review. The company has accepted unsecured loan from
direc- tors and shareholders.
7. The Central Government has not prescribed maintenance of cost
records by the company under section 209(1 )(d) of the Act.
8. According to the records of the company, the company is generally
regular in depositing undisputed statutory dues including withholding
of taxes, provident fund, employees state insurance, income tax, sales
tax, wealth tax, custom duty and other statutory dues applicable to it
with the ap- propriate authorities. According to the information and
explanations given to us no undisputed amounts payable in respect of
income tax, wealth tax, sales tax, custom duty and excise duty were
outstanding, at the year end for a period of more than six months from
the date they became payable.
9. The Company has accumulated losses at the end of the financial year
and it has not incurred cash losses in the current financial year and
not incurred cash losses in the immediately preceding financial year.
10. 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 other securities.
11. In our opinion, the company is not a chit fund or a nidhi/mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
12. In our opinion, the Company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditors Report) Order,
2003 are not applicable to the Company.
13. According to the information and explanation given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
14. Based on information and explanations given to us by the
management, term loans were applied for the purpose for which the loans
were ob- tained.
15. According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the company, we report
that no funds raised on short term basis have been used for long term
investment and no long term funds have been used to finance short term
assets (excludes permanent working capital).
16. The company did not have any outstanding debentures during the
year.
17. The Company has not raised any money by way of public issue during
the year.
18. Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statement and as per
the 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 SUDHAKAR HEGDE & CO.,
Chartered Accountants,
K.Sudhakar Hegde
Proprietor
Membership No.: 200007
Place: Bangalore
Date : 26,h May, 2010