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Aramusk Infrastructure Investments Ltd.

BSE: 532068 Sector: Financials
NSE: N.A. ISIN Code: INE126F01014
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Aramusk Infrastructure Investments Ltd. (ARAMUSKINFRA) - Auditors Report

Company auditors report

ARAMUSK INFRASTRUCTURE INVESTMENTS LIMITED ANNUAL REPORT 2010-2011 AUDITORS' REPORT To The Shareholders of M/s. Aramusk Infrastructure Investments Limited I have audited the attached Balance Sheet of M/s. Aramusk Infrastructure Investments Limited as at 31st March 2011 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with auditing standards generally accepted in India. Those Standards require that I 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 audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government in terms of Section 227 (4A) of the Companies Act, 1956, I enclose in the Annexure a statement on the matters specified in paragraphs 4 & 5 of the said order. Further to my comments in the Annexure referred in paragraph above, I report that: i) I have obtained all the information and explanations, which to the best of my knowledge and belief were necessary for the purposes of my audit; ii) In my opinion, proper books of account as required by law have been kept by the company so far as appears from my examination of those books. iii) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account. iv) In my opinion, the Balance Sheet and Profit and Loss Account dealt with by this report comply with the accounting standards referred to in sub- section 3(C) of Section 211 of the Companies Act, 1956; v) On the basis of written representations received from the directors, as on 31st March, 2011, and taken on record by the Board of Directors, I report that none of the directors is disqualified as on 31st March 2011 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 my opinion and to the best of my information and according to the explanations given to me, the said accounts read together with the significant accounting policies and notes forming part thereof give the information required by the Companies Act, 1956, 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 the state of affairs of the Company as at 31st March, 2011; and 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 flows for the year ended on that date. Sd/- S. RANGANATHA GUPTA Chartered Accountant Membership No. 020442 Place: Chennai Date : 27/08/2011. ANNEXURE TO THE AUDITOR'S REPORT TO THE MEMBERS OF M/S. Aramusk Infrastructure Investments Limited. Annexure referred to in the Auditor's Report to the members of M/s. Aramusk Infrastructure Investments Limited on the accounts for the year ended 31st March 2011. i) The Company does not have fixed assets and stock in trade and hence the matters that are required to be stated for fixed assets and stock in trade are not stated. ii) The company has not taken any loans from parties listed in the register maintained under section 301 of the Companies Act, 1956 during the period under review. iii) The company has not granted any loans during the year, secured or unsecured to Companies, Firms or other parties listed in the Register maintained under Section 301 where the rate of interest and other terms and conditions are prima facie prejudicial to the interest of the company. iv) The company has adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods. v) There were no transactions of purchase of goods and materials and sale of goods and materials and services made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 and aggregating during the year to Rs.5,00,000/- or more at prices which are unreasonable having regard to the prevailing market prices for such goods, materials or services. vi) The company has not accepted any deposits from the public. vii) The company has an internal audit system commensurate with the size of the company and nature of its business. viii) I have been informed by the management that the Central Government has not prescribed the maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 for the period under review. ix) I have been informed by the management that the provisions of Provident Fund Act and Employees State Insurance Act does not apply to the company. x) There are no undisputed amounts payable in respect of Investor Education and Protection Fund, Income Tax, Sales Tax, Wealth Tax, Customs Duty and Excise Duty, cess and other statutory dues as on 31st March 2011, outstanding for a period of more than six months from the date on which they became payable. xi) The company has not incurred cash losses in the current financial year and in the immediately preceding financial year. There is no Accumulated losses as at the end of the year. xii) The company has not defaulted in repayment of its dues to bankers and debenture holders. xiii) According to the information and explanations given to me, the company has not given any guarantee for loans taken by others from banks and financial institutions. xiv) The company has neither availed nor had any outstanding balance of term loans during the year under review. xv) According to the Cash flow statement and other records examined by me and the information and explanations given to me, on an overall basis, short term funds have not been deployed in long term investments. xvi) 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 during the year. xvii) The company has not issued debentures during the year. xviii) The company has not raised any money by way of public issues during the year. xix) On the basis of my examination and according to the information and explanations given to me, no fraud, on or by the company, has been noticed or reported during the year. The other clauses specified in paras 4 & 5 of The Companies (Auditors Report) Order are not applicable to the company. Sd/- S. RANGANATHA GUPTA Chartered Accountant Membership No. 020442 Place: Chennai Date : 27/08/2011.

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