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Global Infratech & Finance Ltd.

BSE: 531463 Sector: Financials
NSE: N.A. ISIN Code: INE377M01035
BSE LIVE 14:38 | 17 Oct 106.00 0.40
(0.38%)
OPEN

106.00

HIGH

106.00

LOW

106.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 106.00
PREVIOUS CLOSE 105.60
VOLUME 1
52-Week high 108.00
52-Week low 88.20
P/E
Mkt Cap.(Rs cr) 278
Buy Price 105.50
Buy Qty 50.00
Sell Price 106.00
Sell Qty 99.00
OPEN 106.00
CLOSE 105.60
VOLUME 1
52-Week high 108.00
52-Week low 88.20
P/E
Mkt Cap.(Rs cr) 278
Buy Price 105.50
Buy Qty 50.00
Sell Price 106.00
Sell Qty 99.00

Global Infratech & Finance Ltd. (GLOBALINFRATECH) - Auditors Report

Company auditors report

To the Members of M/s. Global Infratech & Finance Limited

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. Global Infratech &Finance Limited which comprises the balance sheet as at 31st March 2015the statements of profit and loss and the cash flow statement for the year then ended anda summary of significant accounting policies and other explanatory information.

Management 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 with respect to the preparation and presentations 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 undersection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding the assets of the company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgements and estimates that are reasonable andprudent ; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatementswhether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. 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 Rules made there under.

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.

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 misstatementsof the financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to theCompany’s preparation of the financial statements that give a true and fair view inorder to design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of the 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.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner 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 state of affairs of the Company as at 31stMarch 2015;

b) In the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date.

c) In the case of the cash flows statements of the cash flows of the Company for theyear ended on that date.

Reports 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 inparagraphs 3 and 4 of the Order.

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 statementsdealt with by this report are in the agreement with the books of accounts; (d) In ouropinion the Balance Sheet the Statement of Profit and Loss and cash flow statementcomply with the Accounting Standards referred to in section 133 of the Companies Act 2013read 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 records by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in termsof Section 164(2) of the Companies Act 2013;

(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 knowledge and according the explanations given to us none of theclauses are applicable to the Company.

For Pradeep Gupta
Chartered Accountants
Sd/-
Pradeep Gupta
Proprietor
M No. 048979
Place : Mumbai
Date : 28th May 2015

Annexure referred to in paragraph 1 of our report of even date to the members of M/s.Global Infratech & Finance Limited on the accounts for the year ended 31st March2015.

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. a. The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

b. These fixed assets have been physically verified by the management at reasonableintervals; no material discrepancies were noticed on such verification the same have beenproperly dealt with in the books of account;

2. a. The management of the company conducts physical verification of its inventoriesat reasonable intervals.

b. The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

c. The company is maintaining proper records of inventory and no material discrepancywere noticed on physical verification.

3. The Company has not granted any loan to any parties covered in the registermaintained under section 189 of the Companies Act 2013. Hence clauses (b) & (c) arenot applicable.

4. In our opinion and according to information and explanations given to us there areadequate internal control procedures commensurate with the size of the Company and natureof its business with regard to purchase of fixed assets and with regard to the sale ofgoods. During the course of our audit no major weakness has been noticed in the internalcontrols.

5. In our opinion and according to the information and explanations given to us thecompany has not accepted deposits from the public and therefore the provisions of section73 and 74 of the Companies Act 2013 and rules there under are not applicable to thecompany.

6. In the best of our knowledge and explanations the Central Government has notprescribed maintenance of cost records under subsection (1) of section 148 of theCompanies Act 2013 for the products of the company.

7. a. The Company is regular in depositing with appropriate authorities undisputedstatutory dues including provident fund investor education and protection fundemployees’ state insurance income-tax sales-tax wealth-tax service tax customsduty excise duty cess and other material statutory dues applicable to it.

b. According to the information and explanations given to us no disputed amountspayable in respect of provident fund investor education and protection fundemployees’ state insurance income-tax wealth-tax service tax customs duty exciseduty cess and other material statutory dues were outstanding at the year end for aperiod of more than six months from the date they became payable.

c. The Company is not required to transfer any funds to the Investor Education and

Protection Fund in accordance with the relevant provisions of the Companies Act.

8. In my opinion and according to the information given to me and explanationsprovided the company has no accumulated losses and the Company has not incurred cash lossduring the current financial year as well as in the immediately preceding financial year.

9. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto the financial institutions banks and debenture holders.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from banks and financial institutions.

11. To the best of our knowledge and belief and according to the information andexplanations given to us the company has not availed any Term Loan.

12. Based on information and explanation furnished by the management which have beenrelied upon by us there were no frauds on or by the Company noticed or reported duringthe year.

None of the other matters are either applicable or call for a statement for the yearunder audit.

For Pradeep Gupta
Chartered Accountants
Sd/-
Pradeep Gupta
Proprietor
M No. 048979
Place : Mumbai
Date : 28th May 2015