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Datasoft Applications Software (India) Ltd.

BSE: 526443 Sector: IT
NSE: N.A. ISIN Code: INE072B01019
BSE LIVE 15:14 | 29 Nov 1.24 -0.06
(-4.62%)
OPEN

1.24

HIGH

1.24

LOW

1.24

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.24
PREVIOUS CLOSE 1.30
VOLUME 1863
52-Week high 1.48
52-Week low 1.24
P/E 4.13
Mkt Cap.(Rs cr) 0.39
Buy Price 1.36
Buy Qty 2000.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.24
CLOSE 1.30
VOLUME 1863
52-Week high 1.48
52-Week low 1.24
P/E 4.13
Mkt Cap.(Rs cr) 0.39
Buy Price 1.36
Buy Qty 2000.00
Sell Price 0.00
Sell Qty 0.00

Datasoft Applications Software (India) Ltd. (DATASOFTAPPLICA) - Auditors Report

Company auditors report

To

The Members of Datasoft Application Software (India) Limited.

Report on the Financial Statements

We have audited the accompaying financial statements of Datasoft ApplicationSoftware (India) Limited. ("the Company") which comprise the Balance Sheetas at March 31 2015 and the Statement of Profit and Loss and Cash Flow Statement for theyear then ended and a summary of significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of Companies Act 2013 ("the Act") with respect to the preparation andpresentation of these standalone financial statements that give a true and fair view ofthe financial positions financial performance and cash flows of the Company in accordancewith the Accounting principles generally accepted in India including the AccountingStandards specified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor's Responsibility

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

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 thereunder.

We conducted our audit in accordance with the standards on Auditing Specified underSection 143 (10) of the Act and other applicable authoritative pronouncements issued bythe Institute of Chartered Accountants of India. Those standards and Pronouncementsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about wthether the financial statements are free from materialmisstatement.

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 judgement including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such Controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the 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 for our audit opinion on 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 :

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 profit for the year ended onthat date; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Emphasis of Matter :

Without Qualifying Our Opinion :

We draw attention to Note No. 3 and 4 of Notes of the Financial Statement regardingfollowing factors raise substantial doubt on the assumption of going concern concept inpreparation of financial statements :

i) There is no business activity during the year.

ii) Management has already laid off its entire staff and they have not shown anyevidence for the revival of the business by recruiting any employee.

In view of the above we are unable to express any opinion as regards theappropriateness of going concern assumption followed in preparation of the financialstatements.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015; issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act we(hereinafter referred to as the "Order") and on the basis of such checks of thebooks and records of the Company as we considered appropriate and according to theinformation and explanations given to us we give in the Annexure a statement on thematter specified in paragraphs 3 and 4 of the 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 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 by this report are in agreement with the books of account.

d) In our opinion the Balance Sheet the Statement of Profit and Loss and Cash FlowStatement 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 written representations received from the directors as on March31st 2015 and taken on record by the Board of Directors we report that none of thedirectors is disqualified as on March 31st 2015 from being appointed as a director interms of Section 164(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 :

1. The Company does not have any pending litigations that will affect the financialposition of the Company.

2. The Company did not have any long-term contracts including derivative contracts forwhich there wereany material foreseeable losses.

3. There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company during the year ended March 312015.

For KANU DOSHI ASSOCIATES
Chartered Accountants
Firm Registration No. : 104746W
PLACE : MUMBAI ARATI PARMAR
DATE : 29-05-2015 Partner
Membership No. : 102888

ANNEXURE TO THE AUDITORS' REPORT

Referred to in paragraph 1 of 'Report on other Legal and Regulatory Requirements'in our Report of even date on the accounts of Datasoft Application Software (India)Limited for the year ended 31st March 2015.

(i) The Company does not have any fixed assets. Hence the question of maintainingproper records carrying out physical verification and disposing off a substantial part ofthe fixed assets does not arise.

(ii) The Company does not have any inventory. Hence the question of carrying outphysical verification and maintaining proper records does not arise.

(iii) As per information and explanations given to us the Company has not grantedloan secured or unsecured to companies firms or other parties covered in the registermaintained under Section 189 of the Companies Act 2013. Accordingly the sub-clause (a)and (b) of clause (iii) are not applicable to the Company.

(iv) During the year the company has not been engaged in purchase of inventory andfixed assets and sale of goods and services. Hence clause 3 (iv) is not applicable to thecompany.

(v) The Company has not accepted any deposits from the public within the meaning of theSection 73 and 76 of the Act and the rules framed there under to the extent notified.

(vi) We have been infomred that the Central Government has not prescribed themaintenance of cost records under Section 148(1) of the Companies Act 2013.

(vii) a) According to the information and explanations given to us and on the basis ofrecords produced before us the Company is generally regular in depositing withappropriate authorities undisputed statutory dues including Income Tax Wealth Tax andother material statutory dues applicable to it. According to the information andexplanations given to us no undisputed arrears of statutory dues were outstanding as at31st March 2015 for a period of more than six months from the date they became payable.

b) There are no cases of non-deposit with appropriate authorities of disputed due ofsales tax / income tax / custom tax / wealth tax / exicse authorities.

c) The amount required to be transferred to Investor Education and Protection Fund hasbeen transferred within the stipulated time in accordance with the provisions of theCompanies Act 1956 and the rules made thereunder.

(viii) The Company does not have accumulated losses at the end of the financial yearand has not incurred cash losses in the current financial year and in immediatelypreceding financial year.

(ix) In our opinion and according to the information and explanations given to us theCompany has not taken any loans from any financial institutions banks or debentureholders and hence the question of defaulting in repayment of dues does not arise.

(x) According to the information and explanations given to us and the record examinedby us the Company has not given any guarantee for loans taken by others from banks orfinancial institutions.

(xi) The Company has not taken any Term loan during the year. Hence this clause is notapplicable.

(xii) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of material fraud on or by the Company noticed or reported during the year norhave we been informed of any such case by the Management.

For KANU DOSHI ASSOCIATES
Chartered Accountants
Firm Registration No. : 104746W
PLACE : MUMBAI ARATI PARMAR
DATE : 29-05-2015 Partner
Membership No. : 102888

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