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Aashee Infotech Ltd.

BSE: 519319 Sector: Others
NSE: N.A. ISIN Code: INE847M01011
BSE LIVE 12:26 | 21 Sep Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.28
PREVIOUS CLOSE 2.20
VOLUME 120
52-Week high 2.28
52-Week low 1.54
P/E
Mkt Cap.(Rs cr) 0.84
Buy Price 2.26
Buy Qty 55.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.28
CLOSE 2.20
VOLUME 120
52-Week high 2.28
52-Week low 1.54
P/E
Mkt Cap.(Rs cr) 0.84
Buy Price 2.26
Buy Qty 55.00
Sell Price 0.00
Sell Qty 0.00

Aashee Infotech Ltd. (AASHEEINFOTECH) - Auditors Report

Company auditors report

The Members of Aashee Infotech Limited Report on the standalone Financial Statements

We have audited the accompanying standalone financial statements of Aashee InfotechLimited (“the Company”) which comprise the balance sheet as at 31stMarch 2015 the statement of profit & loss the cash flow statement forthe year ended and a summary of the significant accounting policies and other explanatoryinformation. Management's Responsibility for the Financial Statements

The Company's Board of the Directors is responsible for the matters stated in Section134(5) of The Companies Act 2013 (“the Act”) with respect to the preparation ofthese standalone financial statements that give a true & fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of theAct read with rule 7 of the Companies (accounts) Rules2014. This responsibility also includes maintenance of the adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that are operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give true & fair view and free from material misstatement whether dueto fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit A

We have taken into account the provision of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirement and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of the material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditors considers internal financial control relevant to the company's preparation ofthe financial statements that give a true & fair view in order to design auditprocedure that are appropriate in the circumstances but not for the purpose of expressingan opinion on whether the company has in place an adequate internal controls systemoverfinancial reporting and the operating effectiveness of such controls.

An audit also includes evaluating the appropriateness of the accounting policies usedand the reasonableness of the accounting estimates made by Company's Directors as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis forour audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2015 and profit & loss and its cash flows forthe yearended on that date Report on Other legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 (“the Order”)as amended issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in theAnnexure a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act We report that:

We have sought and obtained all the information & explanations which to thebestofour knowledge and belief were necessary for the purpose of our audit.

a) In our opinion proper books of accounts as required by law have been kept by theCompany so far as it appears from our examination of the those books.

b) The Balance sheet the statement of Profit & Loss and Cash Flow Statementsdealt with by this Report are in agreement with the books of accounts.

c) In our opinion the aforesaid standalone financial statements comply with theaccounting standards specifies under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

d) On the basis of the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on March 312015 from being appointed as a director in terms of Section164(2) of theAct.

(e) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

(i) The details about the pending litigation against the company and its financialimpact have been stated in their Notes to accounts 2.23 of standalone financial statement.

(ii) . The Company did not have any long-term contracts including derivative contractsfor which there were any material foreseeable losses.

(iii) . There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For UBS & Company
Chartered Accountants
FRN No. 012351N
SHISHIRGUPTA
Partner
M.NO. : 093589
DATE : 29.05.2015
PLACE :DELHI

Annexure to the Auditors' Report

The Annexure referred to in our report to the members of Aashee Infotech Limited ('theCompany') for the year ended 31 March 2015. We report that:

1. a) The company has maintained proper records of fixed assets showing fullparticulars including quantitative details and situation of fixed Assets

b) The fixed assets were physically verified by the management at reasonable intervals.There is a regular program of verification which in our opinion

is reasonable having regard to the size of the company and the nature of its assets. Asexplained to us no material discrepancies have been noticed on such verification by themanagement

2. a) As explained to us the inventories have been physically verified by themanagement at reasonable intervals during the year. In our opinion the frequency of suchVerification is reasonable.

b) In our opinion and according to the information and explanations given by us theProcedures of physical verification of inventories followed by the management areReasonable and adequate in relation to the size of the company and the nature of itsbusiness.

c) On the basis of our examination of the inventory we are of the opinion that thecompany is maintaining proper records of inventory. As explained to us materialdiscrepancies have been noticed on physical verification of stocks as compared to bookrecords.

3. The company has not granted any loans secured or unsecured loans to companiesfirms or other parties covered in the register maintained under section 189 of the Act.Accordingly sub-clause (a) and (b) are not applicable to the company.

4. In our opinion and according to the information and explanations provided to usthere are adequate internal control procedures commensurate with the size of the companyand the nature of its business for purchase of inventory and for sale of inventory. Duringthe course of our audit we have not observed any continuing failure to correct majorweakness in internal controls.

5. In our opinion and according to the information an explanations given to us thecompany has not accepted any deposits from the public.

6. According to the information and explanation given to us the central govt has notprescribed for the maintenance of cost record under sub-section (1) of section 148 of thecompanies act.

7. a) In our opinion and according to the information and explanations given to us thecompany is regular in depositing undisputed statutory dues including provident fundemployee's state insurance income tax sales tax service tax custom duty value addedtax cess and other material statutory dues with appropriate authorities.

b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund employees' state insurance income tax sales taxservice tax custom duty value added tax cess and other material statutory dues wereoutstanding as at 31st March 2015 for a period of more than six months from thedate of they become payable.

c) The Company is not required to transfer any amount to investor education andprotection fund as per Companies Act 1956 and rules made there under.

8. The accumulated loss of the company at the end of year is of Rs. 33895180/- whichare not less than 50% of its net worth. Further the company has not incurred cash loss incurrent financial year as well as in immediately preceding financial year.

9. Based on our audit procedure and on the information and explanation given by themanagement that the company has not any outstanding due to any bank financialinstitutions or debenture holders. Hence this clause is not applicable.

10. As per information and explanations provided to us the company has not given anycorporate guarantee for loan taken by others from bank orfinancial institutions as no loanhas been taken by others from bank orfinancial institutions.

11. Based on our information and explanation given by the management there is no termloan in the company so this clause is not applicable.

12. According to the information and explanations given to us no fraud on orby thecompany has been noticed or reported during the course of our audit.

For UBS & Company
Chartered Accountants
FRN No. 012351N
SHISHIR GUPTA
Partner
M.NO. 093589
DATE : 29.05.2015
PLACE: DELHI

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