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इंटेलविजंस सॉफ्टवेयर

बीएसई: 531777  |  NSE: N.A  |  ISIN: INE600C01015  |  Computers - Software Medium & Small

खोजें इंटेलविजंस सॉफ्टवेयर कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of Intellvisions
 Software Limited (the Company), which comprise the Balance Sheet
 as at March 31,2014, and the Statement of Profit and Loss and Cash Flow
 Statement for the year then ended, and a summary of significant
 accounting policies and other explanatory information.
 
 Management''s Responsibility for the Financial Statements
 
 Management is responsible for the preparation of these financial
 statements that give a true and fair view of the financial position,
 financial performance and cash flows of the Company in accordance with
 the Accounting Standards notified under the companies Act, 1956 read
 with the General Circular 15/2013 dated 13th September, 2013 of the
 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,
 but not for the purpose of expressing an opinion on the effectiveness
 of the entity''s internal control. An audit also includes evaluating
 the appropriateness of accounting policies used and the reasonableness
 of the accounting estimates made by management, as well as evaluating
 the overall presentation of the financial statements.
 
 We believe that the audit evidence we have obtained is sufficient and
 appropriate to provide a basis for our audit opinion.
 
 Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us, the financial statements give the information
 required by the Act in the manner so required and give a true and fair
 view in conformity with the accounting principles generally accepted in
 India:
 
 (a) in the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31,2014;
 
 (b) in the case of the Statement of Profit and Loss Account, of the
 profit for the year ended on that date; and
 
 (c) in the case of the Cash Flow Statement, of the cash flows for the
 year ended on that date.
 
 Report on Other Legal and Regulatory Requirements
 
 1. As required by section 227(3) of the Act, we report that:
 
 a. we have obtained all the information and explanations which to the
 best of our knowledge and belief were necessary for the purpose of our
 audit;
 
 b. in our opinion proper books of account as required by law have been
 kept by the Company so far as appears from our examination of those
 books;
 
 c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow
 Statement dealt with by this Report are in agreement with the books of
 account.
 
 d. in our opinion, the balance sheet, statement of profit and loss and
 cash flow statement comply with the Accounting Standards notified under
 the companies Act, 1956 read with the General Circular 15/2013 dated
 13th September, 2013 of the Ministry of Corporate Affairs in respect of
 Section 133 of the companies Act, 2013;
 
 2. As required by the Companies (Auditor''s Report) Order, 2003
 (the Order) issued by the Central Government of India in terms of
 sub-section (4A) of section 227 of the Act, we give in the Annexure a
 statement on the matters specified in paragraphs 4 and 5 of the Order.
 
 3. On the basis of written representations received from the directors
 as on March 31,2014, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31,2014, from being
 appointed as a director in terms of clause (g) of sub-section (1) of
 section 274 of the Companies Act, 1956.
 
 4. Since the Central Government has not issued any notification as to
 the rate at which the cess is to be paid under section 441A of the
 Companies Act, 1956 nor has it issued any Rules under the said section,
 prescribing the manner in which such cess is to be paid, no cess is due
 and payable by the Company.
 
 Intellvisions Software Limited - March 2014 Annexure Referred to in
 paragraph 3 of our report of even date
 
 1. Fixed Assets
 
 a) The Company has maintained proper records showing full particulars
 including the quantitative details and situation of fixed assets.
 
 b) We have been informed that the Fixed Assets of the company have been
 physically verified during the year by the management, and in respect
 of items for which proper records have been maintained, no materiel
 discrepancies have been noticed.
 
 c) The assets discarded/sold during the year are not substantial and
 are not affecting the operations of the company as a going concern.
 
 2. Inventories
 
 a) The management during the year under audit carried out the physical
 verification of inventories at regular intervals.
 
 b) Taking into consideration the nature of business, we are of the
 opinion that the procedure of physical verification and frequency of
 such verification is reasonable and adequate in relation to the size of
 the company and the nature of its business.
 
 c) The Company is maintaining proper stock of inventory. The
 discrepancies noticed on verification between the physical stocks and
 records were not material in relation to the operation of the company
 and the same have been properly dealt with in the books of account.
 
 3. Secured or Unsecured Loans Granted or Taken
 
 a) The Company has granted unsecured loans to two parties being
 subsidiary companies covered in the register maintained under section
 301 of the Companies Act''1956. The maximum amount outstanding during
 the year was Rs.392.19 lac and closing balance was Rs. 305.03 Lac.
 
 b) In our opinion, the rate of interest and other terms and conditions
 of such loans are not, prima facie, prejudicial to the interest of the
 company. The company has not charged Interest on loan amounting to Rs.
 305.03 lac given to wholly owned subsidiary.
 
 c) The loan and interest was not receivable during the year as such
 there is no overdue amount in excess of Rs. 1 lakh in respect of above
 loan.
 
 d) The company has taken loan from one of its subsidiary Intellvisions
 Arabia (FZC). The maximum amount involved during the year was Rs. 10.15
 lac and closing balance was Nil.
 
 e) In our opinion and according to the information and explanation
 given to us, terms and condition of the loans is not prima facie
 prejudicial to the interest of the company.
 
 4. Internal Control
 
 According to the information and explanations given to us, there are
 adequate internal control systems commensurate with the size of the
 company and the nature of its business, with regard to purchase of
 inventory, fixed assets and with regard to sales of goods and services.
 
 5. Transactions under Section 301
 
 According to the information and explanation given to us, there are no
 contracts or arrangements entered during the year which needs to be
 entered in the register required to be maintained under Section 301 of
 the Companies Act, 1956.
 
 6. Public Deposits
 
 According to the information and explanation given to us, the Company
 has not accepted any deposits from the public.
 
 7. Internal Audit System
 
 The Company has an internal audit system, which in general is
 commensurate with the size of the company and nature of its business.
 
 8. Cost Records
 
 As explained to us, the maintenance of cost records has been prescribed
 by the Central Government under Section 209 (1) (d) of the Companies
 Act, 1956.  We have broadly reviewed the books of account maintained by
 the company pursuant to the rules made by the Central Government for
 the maintenance of cost records under section 209(1)(d) of the
 companies act, 1956 and are of the opinion that primafacie, the
 prescribed accounts and records have been made and maintained.
 
 9. Statutory Dues
 
 The company has been generally regular in depositing its undisputed
 statutory dues including Provident Fund, Employees State Insurance,
 Wealth Tax, Service Tax, Customs Duty, Excise Duty, Sales Tax, Cess and
 any other statutory dues as applicable with the appropriate authorities
 during the year.  According to the information and explanation given to
 us, no undisputed amounts payable in respect of Provident Fund,
 Employees State Insurance, Wealth Tax, Service Tax, Customs Duty,
 Excise Duty, Sales Tax, Cess and any other statutory dues were in
 arrears as at 31.3.2014 for a period of more than six months from the
 date they became payable.
 
 The detail of excise duty/ Income tax not deposited on account of
 pending dispute along with the amounts involved and the forum where
 dispute is pending is given as under:-
 
 Nature             Amount (Rs.in Lacs)       Forum Where dispute 
                                              is pending
 
 Excise Duty              228.83                CESTAT
 
 10. The Company has no accumulated losses at the end of the financial
 year and it has not incurred cash losses in the current and immediately
 preceding financial year.
 
 11. In our opinion and according to the information and explanations
 given to us, the company has not defaulted in repayment of dues to
 financial institutions and banks.
 
 12. As explained to us, the Company has not granted loans and advances
 on the basis of security by way of pledge of shares, debentures and
 other securities.
 
 13. In our opinion, the Company is not a chit fund or a nidhi / mutual
 benefit fund / society. Therefore, the provisions of clause 13 of Para
 4 of the Companies (Auditor''s Report) Order are not applicable to the
 Company.
 
 14. As explained and verified, the Company is not dealing or trading in
 shares, securities, debentures and other investments. The shares held
 by the company are in its own name.
 
 15. 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.
 
 16. The Company has not raised any new term loans during the year. The
 term loans outstanding at the beginning of the year have been applied
 for the purposes for which the same was raised.
 
 17. On an overall examination of the balance sheet of the Company, we
 report that funds raised on short-term basis have not been used for
 long-term investment.
 
 18. 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.
 
 19. According to the information and explanations given to us the
 Company has not issued any Debentures during the year.
 
 20. The company has not raised any money by way of public issues during
 the year.
 
 21. According to the information and explanation given to us, no fraud
 on or by the Company has been noticed or reported during the year
 
                                             For T.R Chadha & Co.
 
                                           Chartered Accountants
                                          Firm Regn. No: 006711N
 
                                                  Pramod Tilwani
 
 Place: Mumbai                                          (Partner)
 
 Date : 27th May 2014                   Membership Number: 76650
 
 
 
 
स्रोत: रेलीगरे टेचनोवा

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