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सिल्वरलाइन टेक्नॉलजी

बीएसई: 500389  |  NSE: SILVERLINE  |  ISIN: INE368A01021  |  Computers - Software Medium & Small

खोजें सिल्वरलाइन टेक्नॉलजी कनेक्शन Jun 10
लेखा परीक्षकों की रिपोर्ट वर्षांत : Jun '11
We have audited the attached Balance sheet of Silverline Technologies
 Ltd as at 30th June 2011, the Profit and Loss Account and the Cash Flow
 Statement 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.

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 statement. An audit also 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.

As required by the Companies (Auditor's Report) Order 2003, issued by the Department of Company Affairs on 12th June 2003 and as amended under Notification at 25th November 2004 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 paragraph 4 and 5 of the said Order.

Further to the comments contained in the annexure mentioned in Para 3 above, we state the following:

a. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes 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 the books of accounts.

c. The Balance sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account,

d. In our opinion, the Balance sheet and Profit and 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 subject to

Not provisioning of deferred tax liability under AS-22 relating to impairment of assets particularly debtors under AS-28 and AS-15 relating to non provision of retirement benefits

e. On the basis of written representations received from the directors, as on 30th June 2011, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 30th June 2011 from being appointed as a director in terms of clause (g) of sub-section (I) of section 274 of the Companies Act, 1956.

f. In our opinion and to the best of our information and according to the explanation given to us, the said accounts read together with the qualification in para

(d) above give a true and fair view with respect to the following

a) In the case of Balance Sheet, of the state of affairs of the company as at 30th June 2011,

b) In the case of the Profit and Loss account of the Profit for the year ended on that date.

c) In the case of the Cash Flow Statement, of the cash flow for the year ended on that date.

i) a) The Company has maintained proper records, showing full particulars including quantitative details and situation of fixed assets.

b) Most of the fixed assets of the company have been physically verified.

c) None of the fixed assets have been revalued during the year.

ii) a) There is no physical stock.

b) As the company does not have any stock, question of physical verification does not arise.

c) As no stock has been held by the company clause does not apply.

iii) The Company has maintained register under section 301 but not updated the register.

iv) In our opinion, and according to the information and explanations given to us, the company has adequate internal control procedures commensurate with the size of the company and the nature of its business with regards to purchase of fixed assets and for the sale of goods.

v) All particulars required for contract/ arrangements

a) Referred to Sec 301of the Companies Act of 1956, have been entered.

b) No any transaction entered in pursuance of contracts during the year

vi) The Company has not accepted any Fixed Deposits from the public during the year and therefore, the question of compliance with the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under does not arise.

vii) In our opinion, the Company does not have an adequate Internal Audit System commensurate with its size and nature of its business. However the company is in the process of appointing an internal auditor for the ensuing financial year.

viii) The Central Government has not prescribed the maintenance of cost accounting records by the company under section 209(1)(d) of the Act for any of its product.

ix) According to the information and explanations given to us, the company is reasonably regular in payment of Provident fund and ESI; however there have been delays. TDS has not been deducted during the year and the effect there on is not quantified. . Hence we are unable to determine the undisputed amounts outstanding beyond six months. We have obtained management representation that there are no undisputed amounts payable in respect of Wealth tax, Sales tax, Customs duty & Excise duty outstanding as at 30th June 2011 for a period exceeding 6 months from the day they became payable. In the absence of information we are unable to check Service tax calculation, remittances and filing of returns. Also we unable to comment on the outcome of any proceedings of enquiries / adjudications pending before statutory authorities like Ministries, Income tax tribunals etc to the extent we are not informed of the same.

x) Based on the management representation we report that

there is a disputed amount of Rs 64 Crores payable in respect of Income Tax as at 30th June 2011. The status of earlier assessments has not been updated and we are also not able to comment on the outcome of Income Tax proceedings. Also the current year tax returns have not been filed and paid.

xi) At the end of the financial year, the accumulated losses of the Company are not more than 50% of its Net Worth. However, our calculation does not take into account the effect of qualifications in the audit report. The company has not incurred cash losses during this year and in the immediately preceding previous year.

xii) The company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.

xiii) No loans or advances have been granted by the Company against pledge of Shares and Debentures and other securities.

xiv) The Company is not a chit fund or a nidhi mutual benefit fund/society.

xv) The Company is not dealing in or trading in Shares, Securities, Debentures and other instruments.

xvi) According to the information and explanation given to us, the Company has not given any Corporate Guarantee during the year.

xvii) The Company has not received any Term Loan during the year and therefore the question of application for the purpose for which they were obtained does not arise.

xviii)\According to the information and explanations give 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.

xix) During the year the Company has not made any preferential allotment to parties and companies covered in the register maintained under Section 301 of the companies act, 1956.

xx) The Company has not issued any debentures during the year and therefore the question of creation of security or charge does not arise.

xxi) During the year, the Company has not raised any money by way of public issue and the question of disclosing the end use of money by the management does not arise.

xxii) According to the information and explanations give to us, no fraud on or by the Company was noticed or reported during the course of our audit.

For CNGSN & ASSOCIATES Chartered Accountants


Chennai, 29th February 2012 Memb.No.11205 F.R.No.004915S

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `60.18 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `425.98 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `1569.80 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `528.06 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `720.14 Cr की बिकवाली
  • MARKET CUES : स्टॉक फ्यूचर्स में `367.32 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `45.72 Cr की खरीदारी
  • MPC MEET ON CREDIT POLICY : आज क्रेडिट पॉलिसी का एलान
  • JEFFERIES ON GODREJ PROPERTIES : Buy रेटिंग, लक्ष्य बढ़ाकर `1,040/Sh
  • HDFC : आज से खुलेगा QIP, फ्लोर प्राइस `1,838.94/Sh

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