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Cyberscape Multimedia Ltd.

BSE: 532364 Sector: IT
NSE: N.A. ISIN Code: INE519B01019
BSE LIVE 12:19 | 10 Nov Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.85
PREVIOUS CLOSE 3.00
VOLUME 552
52-Week high 3.00
52-Week low 1.55
P/E
Mkt Cap.(Rs cr) 2.88
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.85
Sell Qty 15290.00
OPEN 2.85
CLOSE 3.00
VOLUME 552
52-Week high 3.00
52-Week low 1.55
P/E
Mkt Cap.(Rs cr) 2.88
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.85
Sell Qty 15290.00

Cyberscape Multimedia Ltd. (CYBERSCAPMULTI) - Auditors Report

Company auditors report

To the Members of

CYBERSCAPE MULTIMEDIA LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of CYBERSCAPE MULTIMEDIA LIMITED(the "Company") which comprise the Balance Sheet as at March 31 2015 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for Financial Statements

The Company's Management is responsible for the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the company in accordance with the Accounting Standards notified underthe Companies Act 2013 (the Act) and in accordance with the accounting principlesgenerally accepted in India. This responsibility includes the design implementation andmaintenance of internal control relevant to the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatements 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 misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatements of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's presentation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe Company's internal Control. 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.

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 accounting principles generally accepted in India:

a) In the case of the Balance sheet of the state of affairs of the company as at 31stMarch 2015;

b) In the case of the Statement of Profit and loss of the loss of the Company for theyear ended on that date; and

c) In the case of the Cash Flow Statement of the cash flows of the Company of the yearended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms Section 143 (11) of the Act we give inthe Annexure a statement on the matters specified in paragraph 4 and 5 ofthe Order.

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

a) We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose of our audit;

b) In our opinion proper books of accounts as required by law have been kept by thecompany as far as appears from our examination of those books.

c) The Balance Sheet and the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the Books of account.

d) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementcomply with the Accounting Standards notified under the Act.

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 31st March 2015 from being appointed as a director interms of Section 164(2) of the Act.

f) In our opinion company has adequate internal financial control system in place andthe operating effectiveness of such controls.

For SHABBIR & RITA ASSOCIATES LLP

Chartered Accountants Firm Regn. No. 109420W

Shabbir S. Bagasrawala

Partner

Membership No: 39865

The Annexure referred to in paragraph 1 of the Our Report of even date to the membersof Cyberscape Multimedia Limited on the accounts of the company for the year ended 31March 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

1. In respect of its fixed assets:

(a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

2. In respect of its inventories:

(a) As explained to us inventories have been physically verified during the year bythe management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to 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) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of stocks by the management as compared to book records.

3. (a) The company has taken unsecured loans covered in

the register maintained under section 189 of the Companies Act 2013. Balanceoutstanding as on March 312015 and maximum amount outstanding during the year are asfollows:

Name of the Lender Balance Outstanding as on March 312015 Maximum Outstanding during the year (In
Anand S K 243116/- 243116/-
Smart Solution. 65000/- 65000/-

(b) According to the information and explanations given to us and on the basis of ourexamination of the books of account the rate of interest and other terms and conditionsof such loans are not prima facie prejudicial to the interest of the Company.

(c) According to the information and explanations given to us the company has notgranted any loans to companies and parties covered in the register maintained undersection 189 of the Companies Act 2013.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories & fixed assetsand payment for expenses & for sale of goods. During the course of our audit no majorinstance of continuing failure to correct any weaknesses in the internal controls has beennoticed.

5. The Company has not accepted any deposits from the public covered under section 73to 76 of the Companies Act 2013.

6. As per information & explanation given by the management maintenance of costrecords has been prescribed by the Central Government under sub-section (1) of section 148of the Act and we are of the opinion that prima facie the prescribed accounts and recordshave been made and maintained. We have not however made a detailed examination ofrecords with a view to determine whether they are accurate or complete.

7. In respect of statutory dues:

(a) Based on the records produced before us the company is generally regular indepositing with appropriate authorities undisputed statutory dues including ProvidentFund Employees' State Insurance Income- tax Sales-tax Wealth Tax Service Tax CustomDuty Excise Duty and other material statutory dues wherever applicable except in case ofcess tax. There are no arrears as at March 312015 which were due for more than six monthsfrom the date they became payable except Rs. 649019/- on account of Cess Tax.

(b) According to the information and explanations given to us there is no amountspayable in respect of income tax wealth tax service tax sales tax customs duty andexcise duty which have not been deposited on account of any disputes.

(c) As per information & explanation given by the management the company do notrequired to transfer any amount to investor education and protection fund in accordancewith the relevant provisions of the Companies Act 1956 and rules made there under.

8. The accumulated loss of the company exceed fifty percent of its net worth as onMarch 31 2015 and it has incurred cash loss during the financial year covered by ouraudit and in the immediately preceding financial year.

9. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank or debenture holders.

10. According to the information and explanations given to us the Company has notgiven any guarantees for loan taken by others from a bank or financial institution.

11. In our opinion and according to the information and explanation given to us thecompany has not raised any term loan during the period.

12. Based on the audit procedures performed and the information and explanations givento us we report that no fraud on or by the Company has been noticed or reported duringthe year nor have we been informed of such case by the management.

For SHABBIR & RITA ASSOCIATES LLP
Chartered Accountants
Firm Regn. No. 109420W
Shabbir S. Bagasrawala
Partner
Membership No: 39865
Mumbai May 292015

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