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BLS Infotech Ltd.

BSE: 531175 Sector: IT
NSE: N.A. ISIN Code: INE606B01022
BSE LIVE 12:39 | 07 Dec 0.33 0.01
(3.13%)
OPEN

0.33

HIGH

0.33

LOW

0.33

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.33
PREVIOUS CLOSE 0.32
VOLUME 5100
52-Week high 0.45
52-Week low 0.20
P/E
Mkt Cap.(Rs cr) 14.44
Buy Price 0.33
Buy Qty 2505.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.33
CLOSE 0.32
VOLUME 5100
52-Week high 0.45
52-Week low 0.20
P/E
Mkt Cap.(Rs cr) 14.44
Buy Price 0.33
Buy Qty 2505.00
Sell Price 0.00
Sell Qty 0.00

BLS Infotech Ltd. (BLSINFOTECH) - Auditors Report

Company auditors report

To The Members of

M/s BLS INFOTECH LTD.

Report on Financial Statements

To the Board of Directors of M/s. Bis Infotech Ltd.

1. We have audited the accompanying standalone financial statements of M/s. BLSINFOTECH LTD. ("the Company") which comprise the Balance sheet as at 31stMarch 2015 the statement of profit and loss and cash flow statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

2. The Company Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 (the "Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting standards specified underthe Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the company and for preventingand detecting frauds and other irregularities; section and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditors’ Responsibility

3. Our responsibility is to express an opinion on these financial statements based onour audit.

4. We have taken into account the provisions 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.

5. 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 ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

6. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by the Company’s directors as wellas evaluating the overall presentation of the financial statements.

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

Opinion

8. 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 March 312015 and its profit and its cash flows for the year ended on that date.

(a) In the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2015;

(b) In the case of the Statement of Profit and Loss of the Profit for the year endedon that date; and

(c) In the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

9. As required by the Companies (Auditor's Report) Order 2015 ("the order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act (hereinafter referred to as the "Order") and on the basis of suchchecks of the books and records of the Company as we considered appropriate and accordingto the information and explanations given to us. We give in the Annexure a statement onthe matters specified in paragraphs 3 and 4 of the Order.

10. As required by section 143(3) of the Act we report that 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 appears from our examination of those books.

(c) The balance sheet the statement of profit and loss and cash flow statement dealtwith this report are in agreement with the books of account.

(d) In our opinion the Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with the Accounting Standards specified under section 133 of the actread with Rule 7 of the Companies (Accounts) Rules 2014.

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

For RANJIT JHA & ASSOCIATES
Chartered Accountants
Firm Registration No. 326969E
(Ranjit Jha)
Place : Kolkata Partner
Dated : 30h day of MAY 2015 Membership No.: 068333

(Referred to in paragraph 9 of the our report of even date)

i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of Fixed Assets.

(b) According to the information and explanations given to us the fixed assets werephysically verified during the year by the management in accordance with the programme ofverification which in our opinion is reasonable having regard to the size of the Companyand the nature of its assets. The discrepancies noticed on physical verification were notmaterial and have been properly dealt with in the books of account.

(c) There was no disposal of a substantial part of fixed asset.

ii) (a) The Company has conducted physical verification of inventory at reasonableintervals during the year.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventory followed by the Management are reasonableand adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion and according to the information and explanations given to us theCompany is maintaining proper records of inventory and no material discrepancies werenoticed on physical verification.

iii) (a) The Company has not granted any loans secured or unsecured to companiesfirms or other parties covered in the register maintained under Section 189 of the CompanyAct 2013.

(b) The Company has not taken any loans secured or unsecured from companies firms orother parties covered in the register maintained under Section 73 to 76 of the CompanyAct 2013 read with Companies (Acceptance of Deposits) Rules 2014.

iv) 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 with regard to purchase of inventory and fixed assets andfor sale of goods and services During the course of our audit no major weakness has beennoticed in the internal control system.

v) (a) To the best of our knowledge and belief and according to the information andexplanations given to us there have been no contracts or arrangement the particulars ofwhich are required to be entered during the year in the Register maintained under thatSection.

(b) To the best of our knowledge and belief and according to the information andexplanations given to us there have been no transactions made in pursuance of suchcontracts and exceeding the value of Rupees Five Lakhs in respect of any party during theyear.

vi) In our opinion and according to the information and explanations given to us theCompany has not accepted deposits from the public during the year. Therefore theprovisions of clause 4 (vi) of the Order are not applicable to the Company.

vii) Under the course of our audit and according to the comment of the Management theCompany has adequate in-house audit system considering the turnover and the nature of theCompany.

viii) We have broadly reviewed the books of account maintained by the Company inrespect of products where pursuant to the rule made by the Central Government of Indiathe maintenance of cost records has been specified under sub-section (1) of section 148 ofthe Act and are of the opinion that prime facie the prescribed accounts and records havebeen made and maintained.

ix) (a) As per records produced before us and according to the information andexplanations given to us the Company is generally regular in depositing undisputedstatutory dues applicable to it like income tax value added tax with the appropriateauthorities and there were no arrears of such dues at the year-end which have remainedoutstanding for a period of more than six months from the date they became payable.

(b) As per records produced before us and according to the information and explanationsgiven to us there are no dues of Income tax Sales tax Customs Duty Wealth tax Servicetax Excise Duty or Cess which have not been deposited on account of any dispute.

x) The Company has accumulated losses of Rs. 254.88 Lacs as at 31st March2015 (Prev. Year Rs. 254.72 Lacs) which is below fifty percent of its net worth and hasnot incurred cash losses during the financial year covered by our audit and in theimmediately preceding financial year.

xi) In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to any bank or financial institutions ordebenture holders.

xii) In our opinion and according to the information and explanations given to us theCompany has not granted loans and advances on the basis of security by way of pledge ofshares debentures and other securities.

xiii) The provisions of any special statute applicable to chit fund / nidhi /mutualbenefit fund/ societies are not applicable to the company.

xiv) In our opinion and according to the information and explanations given to us theCompany is not dealing in or trading in shares securities debentures and otherinvestments. Therefore the provisions of clause 4 (xiv) of the Companies (Auditor'sReport) Order 2003 are not applicable to the Company.

xv) In our opinion and according to the information and explanations given to us theCompany has not given any guarantee for loans taken by others from banks or financialinstitutions during the year.

xvi) In our opinion and according to the information and explanations given to us noterm loans have been applied for the purpose for which they were raised.

xvii) In our opinion and according to the information and explanations given to us andon an overall examination of the Balance Sheet of the Company we report that no fundsraised on short-term basis have been used for long-term investment.

xviii) According to the information and explanations given to us during the periodcovered by our audit report the Company has not made preferential allotment of shares toparties.

xix) The Company has not issue any debentures and accordingly the question of creationof securities or charge in this regard does not arise.

xx) The Com pany has not raised any money during the year through public issue of anyof its securities.

xxi) To the best of our knowledge and belief and according to the information andexplanations given to us no material fraud on or by the Company has been noticed orreported during the course of our audit.

For RANJIT JHA & ASSOCIATES
Chartered Accountants
Firm Registration No. 326969E
(Ranjit Jha)
Place: Kolkata Partner
Dated : 30h day of MAY 2015 Membership No.: 068333

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