To The Members of
LINAKS MICROELECTRONICS LTD.
REPORT ON FINANCIAL STATEMENT
We have audited the accompanying financial statements of LINAKS MICROELECTRONICSLimited which comprise the Balance Sheet as at March 31 2016 and the Statement ofProfit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.
MANAGEMENT RESPONSIBILITIES FOR THE FINANCIAL STATEMENT
Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in Section 133 of theCompanies Act 2013 ("the Act"). This responsibility includes the designimplementation and maintenance of internal control 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.
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.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditors 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 control relevant to the Companys preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the entitys internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements.
We believe that the evidence we have obtained is sufficient and appropriate to providea 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 2016; b) in the case of theStatement of Profit and Loss of the loss for the year ended on that date. c) in the caseof the Cash Flow Statement of the cash flows for the year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENT;
1. As required by the Companies (Auditors Report) Order 2016 ("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 Order.
2. Further to our comments referred to in paragraph (1) above we refer note no. n(i)to (iiii) of Notes to Accounts attached to and forming part of Balance Sheet.
3. As required by Section 143(3) of the Act we report that: a) we have obtained allthe information and explanations which to the best of our knowledge and belief werenecessary for the purpose of our audit; b) in our opinion proper books of account asrequired by law have been kept by the Company so far as appears from our examination ofthose books. c) the Balance Sheet Statement of Profit and Loss and Cash Flow Statementdealt with by this Report are in agreement with the books of account. d) in our opinionthe Balance Sheet Statement of Profit and Loss and Cash Flow Statement comply with theAccounting Standards referred to in Section 133 of the Companies Act 2013; e) on thebasis of written representations received from the directors as on March 31 2016 andtaken on record by the Board of Directors none of the directors is disqualified as onMarch 31 2016 from being appointed as a director in terms of Section 164(2) of theCompanies Act 2013.
| ||For S.R. Gupta & Co. |
| ||Chartered Accountants |
| ||(F.R. No. 001939C) |
|Place: LUCKNOW. ||(CA V.K. Gupta) |
|Date : 30.05.2016 ||Partner |
| ||Membership No. 14745 |