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इंफॉर्मेशन टेक्नोलॉजी

बीएसई: 523758  |  NSE: ITIL  |  ISIN: INE569A01024  |  Computers - Software Medium & Small

खोजें इंफॉर्मेशन टेक्नोलॉजी कनेक्शन
लेखा परीक्षकों की रिपोर्ट वर्षांत : Aug '01
 We have audited the attached Balance Sheet of Information Technologies
 (India) Limited as at 31 st August, 2001 and also the Profit and Loss
 Account for the period ended on that date annexed there to and report
 that:
 
 1. As required by the Manufacturing and Other Companies (Auditors'
 Report) Order, 1988, issued by the Company Law Board in terms of
 section 227(4A) of the Companies Act, 1956 and on the basis of such
 checks of books and records of the Company as were considered
 appropriate and the information and explanations given to us during the
 course of audit, we annex hereto a statement on matters, specified in
 paragraphs 4 & 5 of the said order to the extent applicable.
 
 2. Further to our comments in the Para-1 above, we state 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 such
 books, and proper returns adequate for the purposes of our audit, have
 been received from the branches, not visited by us.
 
 c) The Balance Sheet and Profit and Loss Account dealt with by this
 report are in agreement with the books of accounts.
 
 d) In our opinion, the Profit and Loss Account and the Balance Sheet
 comply with the Accounting Standards referred to in Section 211 (3C) of
 the Companies Act, 1956 to the extent they are applicable.
 
 e) On the basis of written representation received from the directors
 as on August 31,2001 and taken on record by Board of directors, we
 report that none of the directors are disqualified from being appointed
 as director in terms of section 274 (1)(g) 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, subject to, revised
 valuation of intangible assets-brand value of Rs. 2577.39 million and
 human resource value of Rs. 1678.24 millions and correspondence
 adjustment made in the revaluation reserve (intangible assets)
 resulting overstatement of intangible assets to Rs. 4255.63 millions
 and corresponding revaluation reserve (intangible assets) by the same
 amount and permanent diminution in investments as further explaned in
 note no. 3 & 11 respectively of schedule 'N' of Notes to the accounts,
 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 Balance Sheet of the state of affairs of the company
 as at 31st August, 2001 and
 
 ii) In the case of Profit and Loss Account of the profit for the period
 ended on that date.
 
                                       For and on behalf of BANSAL & CO.
                                            Chartered Accountants
 
 Place: New Delhi                               (S.K.BANSAL)
 Date : 13-11-2001                                 Partner
 
 ANNEXURE TO THE AUDITORS' REPORT
 
 (Referred to in paragraph 1 of our report of even date to the members
 of Information Technologies (India) Ltd. on the accounts for the period
 ended 31 st August 2001). We report that:
 
 (i) The Company has maintained proper records to show full particulars,
 including quantitative details and situation of its fixed assets. The
 Company has done a physical verification of its fixed assets which, in
 our opinion, is reasonable having regard to the size of the company and
 nature of its assets. In accordance with this program, the management
 at the year end has physically verified the assets and no material
 discrepancies were noticed on such verification.
 
 (ii) None of the fixed assets of the Company has been revalued during
 the period.
 
 (iii) The company has not maintained any inventories during the period
 and thereby, paragraphs 4(A)(iii) to 4(A)(vi), 4(A)(xxii), 4(A)(xiv)
 and 4(A)(xvi) of the Manufacturing and Other Companies (Auditors'
 Report) Order 1988, are not applicable in relation to its activities.
 
 (iv) The Company has not taken any loans, secured or unsecured from the
 companies, firms or other parties listed in the register maintained
 under section 301 of the Companies Act, 1956 and from the company under
 the same management as defined under Section 370 (1B) of the Companies
 Act, 1956.
 
 (v) The Company has not granted any loans secured or unsecured to the
 companies, firms or other parties listed in the register maintained
 undersection 301 of the Companies Act, 1956 and to the company underthe
 same management as defined under Section 370 (1B) of the Companies Act,
 1956.
 
 (vi) The parties to whom the loan or advances in the nature of loans
 have been given by the company are repaying the principal amount as
 stipulated and are regular in payment of interest, wherever applicable
 except interest free loan and advances given to employees of the
 company.
 
 (vii) In our opinion. Internal control procedure are adequate
 commensurate with the size of the company and the nature of its
 business, for the purchases of consumable including components,
 hardware and plant and machinery, equipment and other assets and for
 sale of goods. However it needs to be strengthened.
 
 (viii) In our opinion and according to the information and explanations
 given to us, in respect of service activities, the company has a
 reasonable system of recording receipts issues and consumption of
 material and stores commensurate with the size and nature of business.
 The system provide reasonable allocation of man-hours consumed to the
 respective projects. Authorization at proper levels with necessary
 control on issue of labour cost on some project are in operation.
 
 (ix) There is no transactions for purchase/sale of goods, materials and
 services made in pursuance of contracts or arrangements entered in the
 register maintained under Section 301 of the Companies Act, 1956 which
 aggregated to Rs. 50000 or more during the year.
 
 (x) The Company has not accepted any deposit from the public during the
 year and the provisions of Section 58-A of the Companies Act, 1956 have
 been complied with.
 
 (xi) The company has an internal audit system commensurate with the
 size and nature of its business.
 
 (xii) Provident Funds and Employees State Insurance dues have been
 generally deposited regularly with the appropriate authorities during
 the year.
 
 (xiii) According to information and explanations given to us, there are
 no undisputed amounts payable in respect of wealth tax, sales tax,
 custom duty and excise duty outstanding as the end of financial year
 for more than six months from the date that they become payable.
 
 (xiv) According to information and explanations given to us, we have
 not come across any personal expenses, which have been charged to
 profit and loss account other than those payable under contractual
 obligations or in accordance with prevailing business practices.
 
 (xv) The Company is not a sick industrial company within the meaning of
 Clause (0) of Sub-Section (1) of section 3 of the Sick Industrial
 Companies (Special Provisions) Act, 1985.
 
 (xvi) In respect of trading activities of the company on the basis of
 evaluation by persons responsible for custody of stocks, there are no
 damaged goods.
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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