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Luminaire Technologies Ltd.

BSE: 526045 Sector: IT
NSE: STRAUSIND ISIN Code: INE682C01021
BSE LIVE 10:04 | 29 Aug Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.20
PREVIOUS CLOSE 0.20
VOLUME 900
52-Week high 0.20
52-Week low 0.20
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.20
Sell Qty 820319.00
OPEN 0.20
CLOSE 0.20
VOLUME 900
52-Week high 0.20
52-Week low 0.20
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.20
Sell Qty 820319.00

Luminaire Technologies Ltd. (STRAUSIND) - Auditors Report

Company auditors report

INDEPENDENT AUDITORS

To

The Members

Luminaire Technologies Limited.

Mumbai

Report on the Financial Statements

We have audited the accompanying financial statements of Luminaire TechnologiesLimited which comprise the Balance Sheet as at 31st March 2014 the Statement ofProfit and Loss and the Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information.

Management’s Responsibility for the 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 referred to insub-section (3C) of section 211 of the Companies Act 1956 ("the Act"). Thisresponsibility includes the design implementation and maintenance of internal controlrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material misstatement 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 withthe ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the 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 theauditors’ judgment including the assessment of the risks of material misstatement inthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers the internal control relevant to the Company’s preparation andfair presentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made by theManagement as well as evaluating the overall presentation of the financial statements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea 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 accountingprinciples generally accepted in India:

(a) in the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2014;

(b) in the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on 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

1. As required by the Companies (Auditor’s Report) Order 2003 ("theOrder") issued by the Central Government of India in terms of sub-section (4A) ofsection 227 of the Act we give in the Annexure a statement on the matters specified inparagraphs 4 and 5 of the Order

2. As required by Section 227(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 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account.

(d) In our opinion the Balance Sheet Statement of Profit and Loss and Cash FlowStatement comply with the Accounting Standards referred to in sub-section (3C) of section211 of the Act.

(e) On the basis of the written representations received from the directors as on 31stMarch 2014 taken on record by the Board of Directors none of the directors aredisqualified from being appointed as a director in terms of clause (g) of sub-section (1)of section 274 of the Act.

For D K Chhajer & Co.
Chartered Accountants
FRN o.: 304138E
Niraj K Jhunjhunwala
Place: Mumbai Partner
Date: 5th September 2014 M No.: 057170

The Annexure referred to in paragraph 1 of the Our Report of even date to the membersof Luminaire Technologies Limited on the accounts of the company for the year ended 31stMarch 2014.

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. The Company has maintained proper records showing full particulars includingquantitative details and situation of its Fixed Assets. These fixed assets were physicallyverified by the management during the year. We have been informed that no materialdiscrepancies were noticed on such physical verification. No fixed assets have beendisposed of during the year by the Company.

2. Physical verification of inventory has been conducted during the year by themanagement at reasonable intervals.

(a) The procedure of physical verification of inventory followed by the management isreasonable and adequate in relation to the size of the Company and nature of its business.

(b) The Company is maintaining proper records of inventory. No material discrepancieswere noticed on physical verification.

3. (a) The Company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 301 of the CompaniesAct 1956. As the company has not granted any loans to the parties listed in the registermaintained under section 301 of the Companies Act 1956 paragraphs (iii) (b) (c) and (d)are not applicable in respect of loans given.

(b) As the company has not granted any loans to the parties listed in the registermaintained under section 301 of the Companies Act 1956 this clause is not applicable tothe Company.

(c) According to the information and explanation given to us the company has takenloan from companies firms or other parties covered in the register maintained undersection 301 of the Companies Act 1956 and it was reported that the amount is payable asand when demanded. The amount taken on loan from Vandana Cloth Center Pvt. Ltd is Rs.11500000/-. Maximum amount outstanding during the year was Rs. 11500000/-. No interestwas provided on that loan. The terms and conditions of such loan is not prejudicial to theinterest of the company.

4. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the Company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods.

5. (a) In our opinion and according to the information and explanations given to ustransactions that need to be entered into a Register in pursuance of Section 301 of theCompanies Act 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us thetransactions exceeding Rupees five lakhs each have been made at prices which arereasonable having regard to prevailing market prices at the relevant time.

6. The Company has not accepted any deposits from the public covered under section 58Aand 58AA of the Companies Act 1956.

7. As per information & explanations given by the management the Company has aninternal audit system commensurate with its size and the nature of its business.

8. The Company has no liability towards payment of any provident fund ESIC Exciseduty Sales tax or any other Government dues.

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 notgranted loans and advances on the basis of security by way of pledge of shares debenturesand other securities.

11. The Company is not a chit fund or a nidhi /mutual benefit fund/society. Thereforethe provision of this clause of the Companies (Auditor’s Report) Order 2003 (asamended) is not applicable to the Company.

12. 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.

13. Based on our audit procedures and on the information given by the management wereport that the company has not raised any term loans during the year.

14. The funds raised on short-term basis have not been used for long term investment.The Company has not raised any funds during the year on long-term basis.

15. The Company has not made any preferential allotment of shares to parties andcompanies covered in the register maintained under Section 301 of the Act during the year.

16. The Company has no outstanding debentures during the period under audit.

17. The Company has not raised any money by public issue during the year.

18. According to the information and explanations given to us no fraud on or by theCompany has been noticed or reported during the financial year.

For D K Chhajer & Co.
Chartered Accountants
FRN o.: 304138E
Niraj K Jhunjhunwala
Place: Mumbai Partner
Date: 5th September 2014 M No.: 057170