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Optiemus Infracom Ltd.

BSE: 530135 Sector: Others
NSE: OPTIEMUS ISIN Code: INE350C01017
BSE LIVE 19:40 | 19 Oct 74.60 6.15
(8.98%)
OPEN

75.25

HIGH

75.25

LOW

74.00

NSE 19:47 | 19 Oct 74.75 5.85
(8.49%)
OPEN

75.75

HIGH

75.75

LOW

73.25

OPEN 75.25
PREVIOUS CLOSE 68.45
VOLUME 71276
52-Week high 77.50
52-Week low 39.65
P/E 81.98
Mkt Cap.(Rs cr) 640
Buy Price 0.00
Buy Qty 0.00
Sell Price 74.45
Sell Qty 25.00
OPEN 75.25
CLOSE 68.45
VOLUME 71276
52-Week high 77.50
52-Week low 39.65
P/E 81.98
Mkt Cap.(Rs cr) 640
Buy Price 0.00
Buy Qty 0.00
Sell Price 74.45
Sell Qty 25.00

Optiemus Infracom Ltd. (OPTIEMUS) - Auditors Report

Company auditors report

To

The Members

Optiemus Infracom Limited.

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of OPTIEMUS INFRACOM LIMITEDwhich comprise the Balance Sheet as at 31st March 2015 the Statement of Profitand Loss the Cash Flow Statement 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 in section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows 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 internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecordsrelevant to the preparation and presentation of the financial statements that givea true and fair view and are free from material misstatement whether due to fraud orerror.

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. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company’s Directors as well as evaluating the overallpresentation 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 state of affairs of the Company as at March312015;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

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 appears from our examination of those books.

c) the Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith 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 written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the other matters included in the Auditor’s Report and to ourbest of our information and according to the explanations given to us :

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long term contracts includingderivative contracts.

iii. There were no amounts which required to be transferred to the Investor Educationand Protection Fund.

For RMA & ASSOCIATES

Chartered Accountants

Firm Registration No: 000978N

Rajiv Bajpai

Partner

Membership No. 405219

Place : New Delhi

Dated : 30.05.2015.

ANNEXURE TO AUDITOR’S REPORT

Referred to in Paragraph 1 of our report of even date on this statement of Account ofOptiemus Infracom Limited as at and for the year ended 31st March 2015:

On the basis of such checks as we considered appropriate and in terms of theinformation and explanations given to us we state that:-

i) In respect of Fixed Assets :

(a) The Company is maintaining proper records showing full particulars includingquantitative details and situation of its fixed assets.

(b) The Company has conducted physical verification at a reasonable interval of itsfixed assets during the period covered under our audit. We are informed that no materialdiscrepancies were noticed on such verification.

(c) The Company has not disposed off any substantial part of it’s fixed assets soas to affect its going concern status.

ii) In respect of Inventories :

(a) As explained to us inventory has been physically verified by the management duringthe year. In our opinion the frequency of verification is reasonable in relation to thesize of the company.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of it’sbusiness.

(c) On the basis of our examination of the records of the company we are of theopinion that company has maintained proper records of it’s inventory. Discrepanciesnoticed on physical verification between physical stock records were not material and havebeen adequately dealt within the books of accounts.

iii) (a) According to the information and explanation given to us the Company hasmade/ taken loans to the parties covered under register maintained section 189 of companyAct 2013.

(b) The receipt of principal amount and interest are also regular.

iv) In our opinion and according to the information and explanation given to us thereis an adequate internal control system 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 and services. During the course of Audit no major weakness has been noticed in theinternal control system in respect of these areas. During the course of Audit we have notobserved any continuing failure to correct major weakness in internal system of thecompany.

v) The Company has not accepted any deposit from the public pursuant to sections 73 to76 or any other provision of Companies Act 2013 and rules framed there under apply.

vi) As per information and explanation given to us Central Government has notprescribed the maintenance of Cost Records under subsection (1) of section 148 of theCompanies Act 2013 in respect of the good manufactured by the company.

vii) In respect of statutory dues:

(a) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company undisputed statutory dues including Providentfund Investor Education and Protection Fund Employees State Insurance Income Tax SalesTax Wealth Tax Service Tax Custom Duty Excise Duty Cess and other statutory dues havegenerally been regularly deposited with the appropriate authorities during the year thoughthere has been slightly delay in few cases. According to the information and explanationsgiven to us in respect of the aforesaid dues were outstanding as at March 312015 for aperiod of more than six months from the date of becoming payable.

(b) According to the records of the company the dues outstanding of income tax salestax wealth tax service tax custom duty provident fund and cess not deposited onaccount of dispute are as per note no.28.

(c) Company is not required to transferred to investor education and protection fund inaccordance with the relevant provisions of the Companies Act.

viii) The Company does not have accumulated loss of not less than 50% of its net worthat the end of the financial year and it has not incurred any cash losses during thefinancial year under audit and also in the immediately preceding financial year.

ix) According to the information and explanations given to us and based on thedocuments and records produced to us company has not defaulted in repayment of dues to afinancial institution or bank.

x) According to the information and explanations given to us and based on the documentsand records produced to us company has not given any guarantee for loans taken by othersfrom bank or financial institutions.

xi) According to the information and explanations given to us and based on thedocuments and records produced to us company has applied for term loans for the purposefor which the loans were obtained.

xii) According to the information and explanations given to us and based on thedocuments and records produced to us no fraud on or by the company has been noticed orreported during the year.

For RMA & ASSOCIATES

Chartered Accountants

Firm Registration No: 000978N

Rajiv Bajpai

Partner

Membership No. 405219

Place : New Delhi

Dated : 30.05.2015.