Mar 31, 2014
We have audited the accompanying financial statements of SHYAMA
INFOSYS LIMITED which comprise the Balance Sheet as at 31st March,
2014 and the Statement of Profit and Loss for the year then ended and
a summary of significant accounting policies and other explanatory
information.
MANAGEMENT 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 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 :
(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 REPORT ON OTHER LEGAL AND REGULATORY
REQUIREMENTS
1. 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, we enclose in the annexure,
a statement on the matters specified in paragraphs 4 and 5 of the said
order.
2. As required by section 227(3) of the Act, we report that :
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
(b) In our opinion proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
(c) The Balance Sheet, Statement of Profit and Loss dealt with by this
Report are in agreement with the books of account.
(d) In our opinion, the Balance Sheet and the Statement of Profit and
Loss 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, and taken on record by the Board of Directors, none of the
directors is disqualified as on 31st March, 2014 from being appointed
as a director in terms of clause (g) of sub-section (1) of section 274
of the Companies Act, 1956.
ANNEXURE TO THE AUDITORS'' REPORT
(i) The Company has maintained proper records of fixed assets showing
full particulars, including quantitative details and situation
thereof.
(ii) The company does not carry any inventory as such other sub
clauses are not applicable for reporting.
(iii) The Company has not granted or taken any loans, secured or
unsecured during the year from/to Companies, firms or other parties
listed in the Register maintained under Section 301 of the Companies
Act, 1956 as such other sub clauses are not applicable for reporting.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedure
commensurate with the size of the Company and the nature of its
business for purchase of fixed assets etc and sell thereof.
(v) (a) To the best of our knowledge and belief and according to the
information and explanations provided by the management, we have been
informed that company has not made any transactions that needed to
record in the register maintained under section 301 of the companies
Act 1956 as such other sub clauses are not applicable for reporting.
(b) According to the information and explanations given to us, the
transactions have been made at prices which are prima facie reasonable
having regard to the prevailing market prices at the relevant time.
(vi) According to the information and explanations given to us, the
company has not accepted any deposits within the meaning of Sections
58A and 58AA of the Companies Act, 1956.
(vii) The Company does not have an Independent Internal Audit system.
(viii) The Company''s management has informed us that the Central
Government has not prescribed the maintenance of cost records under
section 209(1)(d) of the Companies Act, 1956, for any product/s of the
Company.
(ix) (a) According to the information and explanation give to us and
the records of the Company examined by us, in our opinion the Company
is generally regular in depositing the undisputed statutory dues
including Income tax and other taxes, cess and other material
statutory dues as applicable with the appropriate authorities of
India.
(b) The Company has been regular in making payment of its Income tax
and other taxes, cess and other material statutory dues as applicable
during the year. According to the records of the Company examined by
us and the information and explanation given to us, there were no
disputed amounts payable in respect of Income tax except serial no 14
to note 15 and other taxes, cess and other material statutory dues
that were outstanding as on the end of the financial year.
(X) The Company has accumulated losses as at the Balance Sheet date
but does not exceed the limit as required under order and it has
incurred cash losses during the financial year and in the immediately
preceding financial year.
(XI) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not defaulted
in repayment of dues to any financial institution or bank or debenture
holders as at the Balance Sheet date.
(XII) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not granted
any loans and advances on the basis of security by way of pledge of
shares, debentures and other securities.
(XIII) The provisions of any special statute applicable to chit
fund/nidhi/mutual benefit fund/societies are not applicable to the
Company.
(XIV) The company is not dealing in or trading in shares, securities
and dentures. Accordingly, the provisions of clause 4(xiv) of the
companies (Auditor''s Report) order, 2003 are not applicable.
(XV) In our opinion and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken
by others from banks or financial institutions during the year.
(XVI) The Company has not taken any term loans during the current
financial year.
(XVII) Based on the information and explanations given to us and on
overall examination of the Balance Sheet of the Company, no funds
raised on short term basis have been used during the year for long
term purpose or vice versa.
(XVIII) 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, have been priced which are not
prejudicial to the interest of the Company.
(XIX) The Company has not issued any debentures during the year.
(XX) The Company has not raised any money by public issue during the
year.
(XXI) To the best of knowledge and belief and according to the
information and explanations given to us, no fraud on or by the
Company was noticed or reported during the year.
For S. K. DAS & ASSOCIATES
Chartered Accountants
Address : 45, B. B. Ganguly Street FRN 313040E
Kolkata - 700 012 T. K. DATTA
Dated : 29th May, 2014 PARTNER
M. No. 51814
Mar 31, 2013
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of SHYAMA INFOSYS
LIMITED which comprise the Balance Sheet as at 31 st March, 2013 and
the Statement of Profit and Loss for the year then ended and a summary
of significant accounting policies and other explanatory information.
MANAGEMENT RESPONSIBILTY 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 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 :
(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
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. 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, we enclose in the annexure, a
statement on the matters specified in paragraphs 4 and 5 of the said
order.
2. As required by section 227(3) of the Act, we report that :
(a) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
(b) In our opinion proper books of account as required by law have been
kept by the company so far as appears from our examination of those
books;
(c) The Balance Sheet, Statement of Profit and Loss dealt with by this
Report are in agreement with the books of account.
(d) In our opinion, the Balance Sheet and the Statement of Profit and
Loss 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, and taken on record by the Board of Directors, none of the
directors is disqualified as on 31 st 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.
(i) The Company has maintained proper records of fixed assets showing
full particulars, including quantitative details and situation thereof.
(ii) The company does not carry any inventory as such other sub clauses
are not applicable for reporting.
(iii) The Company has not granted or taken any loans, secured or
unsecured during the year from/to Companies, firms or other parties
listed in the Register maintained under Section 301 of the Companies
Act, 1956 as such other sub clauses are not applicable for reporting.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedure commensurate
with the size of the Company and the nature of its business for
purchase of fixed assets etc and sell thereof.
(v) (a) To the best of our knowledge and belief and according to the
information and explanations provided by the management, we have been
informed that company has not made any transactions that needed to
record in the register maintained under section 301 of the companies
Act 1956 as such other sub clauses are not applicable for reporting.
(b) According to the information and explanations given to us, the
transactions have been made at prices which are prima facie reasonable
having regard to the prevailing market prices at the relevant time.
(vi) According to the information and explanations given to us, the
company has not accepted any deposits within the meaning of Sections
58A and 58AA of the Companies Act, 1956.
(vii) The Company does not have an Independent Internal Audit system.
(viii) The Company''s management has informed us that the Central
Government has not prescribed the maintenance of cost records under
section 209(1 )(d) of the Companies Act, 1956, for any product/ s of
the Company.
(ix) (a) According to the information and explanation give to us and
the records of the Company
examined by us, in our opinion the Company is generally regular in
depositing the undisputed statutory dues including Income tax and other
taxes, cess and other material statutory dues as applicable with the
appropriate authorities of India.
(b) The Company has been regular in making payment of its Income tax
and other taxes, cess and other material statutory dues as applicable
during the year. According to the records of the Company examined by us
and the information and explanation given to us, there were no disputed
amounts payable in respect of Income tax except serial no 14 to note 15
and other taxes, cess and other material statutory dues that were
outstanding as on the end of the financial year.
(X) The Company has accumulated losses as at the Balance Sheet date but
does not exceed the limit as required under order and it has incurred
cash losses during the financial year and in the immediately preceding
financial year.
(XI) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not defaulted
in repayment of dues to any financial institution or bank or debenture
holders as at the Balance Sheet date.
(XII) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not granted
any loans and advances on the basis of security by way of pledge of
shares, debentures and other securities.
(XIII) The provisions of any special statute applicable to chit
fund/nidhi/mutual benefit fund/societies are not applicable to the
Company.
(XIV) The company is not dealing in or trading in shares, securities
and dentures. Accordingly, the provisions of clause 4(xiv) of the
companies (Auditor''s Report) order, 2003 are not applicable.
(XV) In our opinion and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
(XVI) The Company has not taken any term loans during the current
financial year.
(XVII) Based on the information and explanations given to us and on
overall examination of the Balance Sheet of the Company, no funds
raised on short term basis have been used during the year for long term
purpose or vice versa.
(XVIII) 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, have been priced which are not
prejudicial to the interest of the Company.
(XIX) The Company has not issued any debentures during the year.
(XX) The Company has not raised any money by public issue during the
year.
(XXI) To the best of knowledge and belief and according to the
information and explanations given to us, no fraud on or by the Company
was noticed or reported during the year.
For S. K. DAS & ASSOCIATES
Chartered Accountants
Address : 45, B. B. Ganguly Street FRN313040E
Kolkata - 700 012 T- K'' DATTA
Partner
Dated : 10th May, 2013 M. No. 51814
Mar 31, 2009
We have audited the attached Balance Sheet of SHYAMA INFOSYS LIMITED
(Formerly known as Poonam Corporation Limited) as at 31 st March, 2009
and also the Profit & Loss Account for the year ended on that date
annexed thereto. These financial statements are the responsibilities of
the Companys management. Our responsibility is to express an opinion
on these financial statements based on our audit.
We have 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 auditalso 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.
We hereby report thai :-
(i) We have obtained all the information and explanation, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
(ii) In our opinion, the company has kept proper books of account as
required by law so far as appears from our examination of those books.
(iii) The Balance Sheet and Profit & Loss Account dealt with by this
report are in agreement with the books of account.
(iv) In our opinion, the Balance Sheet and Profit & Loss Account dealt
with by this report comply with the accounting standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956.
(v) On the basis of written representations received from the
directors, as on the Balance Sheet date, none of the Directors is
disqualified from being appointed as a Director in terms of clause (g)
of sub- section (1) of Section 274 of the Companies Act, 1956.
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
require by the Companies Act, 1956 in the manner so required and give a
true and fair view (subject to notes of Accounts) 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 31 st March, 2009 and
b) in the case of the Profit and Loss Account of the Loss of the
Company for the year ended on that date.
ANNEXURE TO AUDITORS REPORT
(i) The Company has maintained proper records of Fixed Assets showing
full particulars, including quantitative details and situation thereof.
a. The management informed us that the Fixed Assets have been
physically verified at the year- end and no material discrepancy
between the book records and the physical inventory has been noticed.
b. The Company has not disposed any substantial part of fixed assets
during the year affecting the going concern status of the Company.
(ii) The Investments in Shares, which are held in materialised/physical
form, has been physically verified by the management at reasonable
intervals. Those held by the Company in dematerialised form are in
accordance to the statement issued by the depositories and brokers.
a. The procedures of physical verification followed by the management
are reasonable and adequate in relation to the size of the company and
the nature of its business.
b. The Company has maintained proper records of investments; No
discrepancies were noticed on verification between the physical stock
and the book records.
(iii) The Company has not granted or taken any loans, secured or
unsecured during the year from / to Companies firms or other parties
listed in the Register maintained under Section 301 of the Companies
Act, 1956.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedure commensurate
with the size of the Company and the nature of its business with regard
to purchase of stock and other assets and sale of goods.
(v) To the best of our knowledge and belief and according to the
information and explanations provided by the management, we are of the
opinion that the transactions that need to be entered into the register
have been so entered.
(vi) According to the information and explanations given to us, the
transactions have been made at prices which are prima facie reasonable
having regard to the prevailing market prices at the relevant time.
(vii) According to the information and explanations given to us, the
Company has not accepted any deposits within the meaning of Sections
58A and 58AA of the Companies Act, 1956.
(viii) The Company does not have an Independent Internal Audit system.
(ix) The Companys management has informed us that the Central
Government has not prescribed the maintenance of cost records under
section 209 (1) (d) of the Companies Act, for any product/s of the
Company.
(x) According to the information and explanation give to us and the
records of the Company examined by us, in our opinion the Company is
generally regular in depositing the undisputed statutory dues including
Income Tax and the taxes, cess and other material statutory dues as
applicable with the appropriate authorities of India.
(xi) The Company has been regular in making payment of its Income tax
and other taxes, cess and other material statutory dues as applicable
during the year. According to the records of the Company examined by us
and the information and explanation given to us, there were no disputed
amounts payable in respect of Income Tax and other taxes, cess and
other material statutory dues that were outstanding as on the end of
the financial year.
(xii) The Company has accumulated losses as at the Balance Sheet date
and it has incurred cash losses during the financial year and also in
the immediately preceding financial year.
(xiii) According to the records of the company examined by us and the
information and explanation given to us, the Company has not defaulted
in repayment of dues to any financial institution or bank or debenture
holders as at the Balance Sheet date.
(xiv) According to the records of the company examined by us and the
information and explanation given to us, the Company has not granted
any loans and advances on the basis of security by way of pledge of
shares, debentures and other securities.
(xv) The provisions of any special statute applicable to chit fund /
nidhi / mutual benefit fund / societies are not applicable to the
Company.
(xvi) In respect of the Companys dealings and trading in shares,
securities, debentures and other investments, the Company has
maintained proper records of the transactions are contracts and regular
entries have been made. Since, the principal business of the Company is
not consists of buying and selling of shares / securities, section 49
does not require the Company to hold its shares / securities in its own
name.
(xvii) In our opinion and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions during the year.
(xviii) The Company has not taken any term loans during the current
financial year.
(xix) Based on the information and explanations given to us and on
overall examination of the Balance Sheet of the Company, funds raised
on short terms basis have prima facie, not been used during the year
for long term investment or vice versa, other than temporary deployment
pending application or for repayments.
(xx) The preferential allotment of shares to parties and companies
covered in the register maintained under section 301 of the Companies
Act, 1956, have been priced which are not prejudicial to the interest
of the Company.
(xxi) The Company has not issued any debentures during the year.
(xxii) The Company has not raised any money by public issue during the
year.
(xxiii) To the best of knowledge and belief and according to the
information and explanations given to us, no fraud on or by the Company
was noticed or reported during the year.
For S. K. DAS & ASSOCIATES
Chartered Accountants
45, B. B. Ganguly Street
Sd/-
Kolkata-700012 T. K.DATTA
Dated : 31 st July, 2009 Partner