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Mindvision Capital Ltd.

BSE: 530955 Sector: Financials
NSE: N.A. ISIN Code: INE259E01032
BSE LIVE 15:21 | 13 Nov Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 11.46
PREVIOUS CLOSE 12.06
VOLUME 50
52-Week high 12.07
52-Week low 8.10
P/E 1146.00
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 11.46
Sell Qty 24950.00
OPEN 11.46
CLOSE 12.06
VOLUME 50
52-Week high 12.07
52-Week low 8.10
P/E 1146.00
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 11.46
Sell Qty 24950.00

Mindvision Capital Ltd. (MINDVISIONCAP) - Auditors Report

Company auditors report

AUDITORS

To

The Members

Mindvision Capital Limited Vadodara(Guj.)

We have audited the attached Balance Sheet of MINDVISION CAPITAL Ltd. as at31st March 2014 and the annexed Profit and Loss Account and cash flow statement for theyear ended on that date. These financial statements are the responsibility of theCompany’s Management. Our responsibility is to express an opinion on these financialstatements bases on our audit.

We conducted our audit in accordance with auditing standards generally accepted inIndia Those standard require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. Anaudit includes examining on a test basis evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by the management as well as evaluating the overallfinancial statement presentation. We believe that our audit provides a reasonable basisfor our opinion. As required by the Companies (Auditor’s Report) Order 2003 issued bythe central Government of India in terms of section 227 (4A) of the Companies Act 1956 weenclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of thesaid order. Further to our comments in the Annexure referred to above 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 so far as appears from our examination of such books.

(c) The Balance Sheet and the Profit & Loss Account referred to in this report arein agreement with the books of account.

(d) In our opinion and to the best of our information the said Balance Sheet and Profit& Loss Account and cash flow statement comply with the Accounting standard referred toin section 211(3c) of the companies act 1956.

(e) On the basis of written representations received from the directors as on 31stMarch 2014 and taken on record by the Board of Directors we report that none of thedirectors is disqualified as on 31st March 2014 from being appointed as a director interms of clause (g) of sub-section (1) of section 274 of Companies Act 1956.

(f) In our opinion and to the best of our information and according to the explanationsgiven to us the said accounts give the information required by the Companies Act 1956in the manner so required and gives a true and fair view in conformity with the accountingprinciples generally accepted in India:-

i. In so far as it relates to the Balance Sheet of the state of affairs of the Companyas at 31st March 2014 and

ii. In so far as it relates to the Profit & Loss Account of the profit / (loss) ofthe company for the year ended on that date.

iii. In the case of the cash flow statement of the cash flow for the year ended onthat date.

PLACE : Vadodara For C B Mehta & Co.
DATE : 01/09/2014 CHARTERED ACCOUNTANTS
Sd/-
(Chinmay Mehta)
PROPRIETOR
Mem. no. : 517103

Referred in paragraph 3 of our report of even date.

i) The Company has maintained proper records to show full particulars includingquantitative details and situation of fixed assets. We are informed that the fixed assetsother than the assets let on lease have been physically verified by the management atreasonable intervals during the year and no material discrepancies between the bookrecords and physical inventory have been noticed on such verification.

ii) Note of fixed assets of the company have been revalued during the year.

iii) In our opinion and according to the information and explanations given to us theprocedure of physical verification of inventory followed by the management reasonable andadequate in relation to the size of the company and the nature of its business.

iv) No material discrepancy have been noticed between the physical stocks as verifiedand book records.

v) In our opinion on the basis of our examination of the stock record the valuation ofstock is fair and proper in Accordance with the normally accepted accounting principals.

vi) The company has not taken any loans from companies firms or other parties listedin registers maintained u/s. 301 of the Co. Act 1956 except Fixed deposit. The rate ofinterest and other terms and conditions are in our opinion prima-facie non prejudicial tothe interest of the Companies under the same management as defined u/s. (1B) of section370 of the said Act.

vii) The company has not granted or taken any loans secured or unsecured to /fromcompanies firms or other parties covered in the register maintained u/s. 301 of the Act.

viii) The company has not given any loans or advances in the nature of loans to thecompanies under the same management as defined under subsection (1B) of section 370 of theCompanies Act 1956.

ix) 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 thenature of its business for purchase of inventory (Shares & Securities).

x) On the basis of information and explanation given to us in respect of transactionsentered into for purchase and sale of shares and securities and services rendered with theparties whose name are entered in the registered maintained under section 301 of thecompanies act 1956 and aggregating during the year to Rs. 50000 /- or more we are ofthe opinion that the transactions are made at prices which are reasonable having regardsto prevailing market price.

xi) In our opinion and according to the information and explanation given to us withregards to the deposits accepted from public the company has complied with directionissued by the Reserve Bank of India and the provisions of section 58A of the CompaniesAct 1956.

xii) The company does not have any formal system of internal audit. However in ouropinion an according to information and explanation given to us the internal controlprocedures are adequate considering the size and nature of business of the Company.

xiii) The provision of the section 209(1) (d) of the Companies Act 1956 regarding themaintenance of the cost records are not applicable.

xiv) As informed to us the provision of Provident Fund Act and employees stateInsurance Act are not applicable to the company.

xv) According to the Information and explanation given to us no undisputed amounts isrespect of Income-tax Wealth Tax Sales Tax Custody Duty and Excise duty wereoutstanding as at 31st March 2014 for a period of more than six months from the date daybecome payable.

xvi) According to the information and explanation given to us and based on thegenerally accept audit procedure carried out by us no personal expenses of employees ordirectors have been charged to Revenue Account Other that those payable under contractualobligations or in accordance with generally accepted business practice.

xvii) In relation to the service activities of the company there exists a reasonableinternal control system commensurate with the size of the company and nature of itsbusiness.

xviii) In our opinion and on the basis of information and explanation given to us theservices rendered by the company do not require my allocation of men hours.

xix) The company has not granted any loans and advances on the basis of securities byway of pledge of shares debentures and other securities.

xx) The provision of any special statue applicable to chit funds nidhi or mutualbenefit society do not apply to the company.

xxi) The company has maintained proper records of transactions in respect of trading inshares and other securities and timely entries have been made therein. All sharesdebentures and other securities held by the company in its own name accept to the extentexemption granted u/s. 49 of the companies act 1956 or in respect of certain investmentswhich are either locked for transfer or held with valid transfer deed.

xxii) In our opinion clause (xii) (xiv) and (xx) or para (a) of the aforesaid Orderare not applicable to the company for the year under review.

xxiii) The company has not made any preferential allotment on shares to parties andcompanies covered in the register maintained u/s. 301 of the Co. Act.

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

xxv) During the year the company has not issued any debenture.

xxvi) In respect of company’s trading in equity activity we are informed thatthere are no damaged stocks lying with the company.

xxvii) According to the information and explanation given to us no fraud on or by thecompany has been noticed or reported during the year.

PLACE : Vadodara For C B Mehta & Co.
DATE : 01/09/2014 CHARTERED ACCOUNTANTS
Sd/-
(Chinmay Mehta)
PROPRIETOR
Mem. no. : 517103