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NINtec Systems Ltd.

BSE: 539843 Sector: IT
NSE: N.A. ISIN Code: INE395U01014
BSE LIVE 09:41 | 18 Sep 26.35 -1.35
(-4.87%)
OPEN

26.35

HIGH

26.35

LOW

26.35

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 26.35
PREVIOUS CLOSE 27.70
VOLUME 5000
52-Week high 29.00
52-Week low 16.10
P/E 41.17
Mkt Cap.(Rs cr) 18
Buy Price 0.00
Buy Qty 0.00
Sell Price 26.55
Sell Qty 10000.00
OPEN 26.35
CLOSE 27.70
VOLUME 5000
52-Week high 29.00
52-Week low 16.10
P/E 41.17
Mkt Cap.(Rs cr) 18
Buy Price 0.00
Buy Qty 0.00
Sell Price 26.55
Sell Qty 10000.00

NINtec Systems Ltd. (NINTECSYSTEMS) - Auditors Report

Company auditors report

To

The Members of

NINtec Systems Limited

Ahmedabad.

Report on the Financial Statements

We have audited the accompanying standalone financial statements of NINtec SystemsLimited ('the Company') which comprise the balance sheet as at 31stMarch 2016 the statement of profit and loss and the cash flow statement for theperiod then ended and a summary of significant accounting policies and other explanatoryinformation.

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 preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether 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 the Rules made thereunder.

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 judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls

system over financial reporting and the operating effectiveness of such controls. Anaudit also includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion on the standalone 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 2016;

b) in the case of the Statement of Profit and Loss of the Profit for the periodended on that date; and

c) in the case of the Cash Flow Statement of the cash flows for the period ended onthat date. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in the paragraph 3and 4 of the said 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 statementdealt with by this Report are in agreement with the books of account;

(d) in our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;

(e) on the basis of the written representations received from the directors as on 31stMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in termsof Section 164 (2) of the Act;

Place : AHMEDABAD For SAMIR M. SHAH & ASSOCIATES
Date : 30th May 2016 CHARTERED ACCOUNTANTS
FIRM REG. No.: 122377W
SAMIR M. SHAH
(PARTNER)
MEMBERSHIP No.: 111052
B-516 Gopal Palace
Nr. Shiromani Flats
Opp. Ocean Park
Satellite Road
Ahmedabad-380015

ANNEXURE TO INDEPENDENT AUDITOR'S REPORT

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the financial statements for the period ended 31st March 2016we report that:

1) Fixed assets:

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

(b) The Company has a regular programme of physical verification of its fixed assets.In accordance with this programme certain fixed assets were verified during the periodand no material discrepancies were noticed on such verification. In our opinion thisperiodicity of physical verification is reasonable having regard to the size of theCompany and the nature of its assets.

(c) According to the information and explanations given to us the title deeds ofimmovable properties are held in the name of the company.

(ii) The Company does not have any inventory so this clause is not applicable.

(iii) According to the information and explanations given to us the Company has notgranted secured or unsecured loans to the companies firms Limited Liability Partnershipsor other parties covered in the register maintained under section 189 of the CompaniesAct 2013 ('the Act') so this clause is not applicable.

(iv) According to the information and explanations given to us there were notransactions made in respect of loans investments guarantees and security in respect tosection 185 and 186 of the Companies Act 2013 so this clause is not applicable.

(v) According to the information and explanations given to us the company has notaccepted deposits and hence no question arises on compliance of the directives issued bythe Reserve Bank of India and the provisions of sections 73 to 76 or any other relevantprovisions of the Companies Act and the rules framed thereunder where applicable.

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the Company.

(vii) In respect of Statutory Dues:

(a) According to the records provided by the Company the company has been regular indepositing undisputed statutory dues provident fund employees' state insurance income-tax sales-tax service tax duty of customs duty of excise value added tax cess andany other statutory dues to the appropriate authorities during the period and there wereno arrears of any outstanding statutory dues as at 31st March 2016 for a period of morethan six months from the date they became payable.

(b) According to the information and explanations provided to us there were noundisputed demands payable in respect of income tax or sales tax or service tax or duty ofcustoms or duty of excise or value added tax and no amount has been deposited on accountof any dispute.

(viii) According to the information and explanations provided to us the Company hasnot defaulted in repayment of loans or borrowing to any financial institution bankGovernment or dues to debenture holders.

(ix) According to the information and explanations given to us the Company has notraised moneys by way of initial public offer or further public offer (including debtinstruments) and also has no term loan during the period so this clause is not applicable.

(x) To the best of our knowledge and belief and according to the information andexplanations given to us no fraud by the Company or no fraud on the Company by itsofficers or employees was noticed or reported during the period.

(xi) According to the information and explanations given to us the Company has paid orprovided managerial remuneration in accordance with the requisite approvals mandated bythe provisions of section 197 read with Schedule V to the Companies Act.

(xii) The Company is not Nidhi Company so this clause is not applicable.

(xiii) According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013where applicable and the details have been disclosed in the Financial Statements etc. asrequired by the applicable accounting standards.

(xiv) According to the information and explanations given to us the company has notmade any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year under review so this clause is not applicable.

(xv) According to the information and explanations given to us the company has notentered into any non-cash transactions with directors or persons connected with him sothis clause is not applicable.

(xvi) According to the information and explanations given to us the company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act 1934 sothis clause is not applicable.

Place : AHMEDABAD For SAMIR M. SHAH & ASSOCIATES
Date : 30th May 2016 CHARTERED ACCOUNTANTS
FIRM REG. No.: 122377W
SAMIR M. SHAH
(PARTNER)
MEMBERSHIP No.: 111052
B-516 Gopal Palace
Nr. Shiromani Flats
Opp. Ocean Park
Satellite Road
Ahmedabad-380015