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Netvista Information Technology Ltd.

BSE: 530811 Sector: IT
NSE: NETVISTAIT ISIN Code: INE738A01017
BSE LIVE 15:40 | 21 Aug 1.97 -0.02
(-1.01%)
OPEN

1.90

HIGH

2.00

LOW

1.90

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.90
PREVIOUS CLOSE 1.99
VOLUME 260
52-Week high 13.87
52-Week low 1.90
P/E 10.37
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.90
CLOSE 1.99
VOLUME 260
52-Week high 13.87
52-Week low 1.90
P/E 10.37
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Netvista Information Technology Ltd. (NETVISTAIT) - Auditors Report

Company auditors report

TO THE MEMBERS OF NETVISTA VENTURE LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of NETVISTA VENTURE LIMITED("the company")which comprise the Balance Sheet as at 31 March 2015 & theStatement of Profit and Loss for the year then ended and a summary of significantaccounting policies and other explanatory information.

Management’s 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 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 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 provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 the 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 anddisclosures in the financial statements. The procedures selected depend on theauditor’s 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 financial control relevant to the Company’spreparation of the financial statements that give true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and operating effectiveness of such controls. Anaudit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by 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 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 stateof affairs of the Company as at 31st March 2015. b) In the case of statement ofProfit & Loss of the Loss for the year ended on that date.

Report 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 The statement on the matters Specified in paragraphs 3 and 4 ofthe Order is not applicable.

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 ouropinion proper books of account as required by law have been kept by the Company so far asit appears from our examination of those books. c) The Balance Sheet and the Statement ofProfit and Loss dealt with by this Report are in agreement with the books of account. d)In our opinion the aforesaid financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. e) On the basis of written representations received from the directors as on31 March 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164(2) of the Act. f) In our opinion and to the best of our information and according tothe explanations given to us we report as under with respect to other matters to beincluded in the Auditor’s Report in accordance with Rule 11 of the Companies (Auditand Auditors) Rules 2014: i) The Company has no pending litigations which would impactits financial position in the financial statement ii). The company has made provision asrequired under the applicable law or accounting standards for material foreseeablelosses if any and as required on long term contract including derivative contract. iii).There were no amounts which required to be transferred by the Company to the InvestorEducation and Protection Fund.

For J H GHUMARA

Chartered Accountants

(Firm Registration No: 021360N)

CA J H GHUMARA

Proprietor

(Membership No.: 14320)

Place: Mumbai

Date: 20/09/2015