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Baron Infotech Ltd.

BSE: 532336 Sector: IT
NSE: N.A. ISIN Code: INE228B01017
BSE LIVE 12:27 | 07 Dec 0.35 0.01
(2.94%)
OPEN

0.35

HIGH

0.35

LOW

0.35

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.35
PREVIOUS CLOSE 0.34
VOLUME 210
52-Week high 0.41
52-Week low 0.30
P/E
Mkt Cap.(Rs cr) 0.36
Buy Price 0.35
Buy Qty 101790.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.35
CLOSE 0.34
VOLUME 210
52-Week high 0.41
52-Week low 0.30
P/E
Mkt Cap.(Rs cr) 0.36
Buy Price 0.35
Buy Qty 101790.00
Sell Price 0.00
Sell Qty 0.00

Baron Infotech Ltd. (BARONINFOTECH) - Auditors Report

Company auditors report

To

The Members of BARON INFOTECH LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of BARON INFOTECH LIMITED("the Company") which comprises the balance sheet as at 31st March 2015 and thestatement of profit and loss and the cash flow for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresin the financial statements. The procedures selected depend on the auditor’sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made byManagement as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India: (a) in the case of the balance sheet of the stateof affairs of the Company as at 31st March 2015; (b) in the case of the statement ofprofit and loss of the loss for the year ended on that date; and (c) in the case of thestatement of cash flow for the year ended on that date;

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the matters specified inthe paragraph 3 and 4 of the Order to the extent applicable.

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

(a) we have sought and obtained all the information and explanations which to the bestof 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 theCompany so far as it appears from our examination of those books;

(c) the balance sheet the statement of profit and loss and the cash flow statementdealt with by this Report are in agreement with the books of account;

(d) in our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;

(e) 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 31 March 2015 from being appointed as a director in terms of Section164 (2) of the Act; and

(f) 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. TheCompany has no pending litigations on its financial position in its financial statements;

ii. The Company has no long-term contracts including derivative contracts to thefinancial statements;

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company;

For VENKATA PAVAN KUMAR & CO.
Chartered Accountants
Firm Registration No. 011599S
Sd/-
Place : Hyderabad A.V. PAVAN KUMAR
Date : 30.05.2015 Partner
Membership No. 215902

Annexure to the Auditor’s Report

Annexure referred to in paragraph 3 of the report of even date:-

The Annexure referred to in our Independent Auditors’ Report to the members of theCompany on financial statements for the period ended 31st March 2015 we report that:

(i) (a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) Fixed assets have been physically verified by the management at reasonableintervals; any material discrepancies were noticed on such verification and if so thesame have been properly dealt with in the books of account;

(ii) The Company doesn’t have physical inventories and hence clause 3(ii) of theOrder is not applicable;

(iii) The Company hasn’t granted any loans secured or unsecured to companiesfirms or other parties covered in the register maintained under section 189 of theCompanies Act. Thus clause 3(iii) of the Order is not applicable;

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business with regard to purchase of fixed assets and sale of services.The activities of the Company do not involve purchase of inventory and the sale of goods.We have not observed any major weakness in the internal control system during the courseof the audit;

(v) The Company has not accepted any deposits from the public. Thus clause 3(v) of theOrder is not applicable;

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the Company. Thus clause3(vi) of the Order is not applicable;

(vii) (a) The company is regular in depositing undisputed statutory dues includingprovident fund employees’ state insurance income-tax service tax cess and anyother statutory dues with the appropriate authorities;

(b) According to the information and explanations given to us there are no dues ofprovident fund employees’ state insurance income-tax service tax cess which havebeen deposited with the appropriate authorities on account without any dispute;

(c) According to the information and explanations given to us the amounts which wererequired to be transferred to the investor education and protection fund in accordancewith the relevant provisions of the Companies Act 1956 (1 of 1956) and rules there underhas been transferred to such fund within time;

(viii) The company has accumulated losses at the end of the financial year are not lessthan fifty per cent of its net worth and has incurred cash losses in such financial year;

(ix) The company has no dues to a financial institution or bank or debenture holders.Thus clause 3(ix) of the Order is not applicable;

(x) The company hasn’t given any guarantee for loans taken by others from bank orfinancial institutions. Thus clause 3(x) of the Order is not applicable;

(xi) The company doesn’t have any term loans. Thus clause 3(xi) of the Order isnot applicable;

(xii) According to the information and explanations given to us no material fraud onor by the Company has been noticed or reported during the course of our audit.

For VENKATA PAVAN KUMAR & CO.
Chartered Accountants
Firm Registration No. 011599S
Sd/-
Place : Hyderabad A.V. PAVAN KUMAR
Date : 30.05.2015 Partner
Membership No. 215902

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