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Softech Infinium Solutions Ltd.

BSE: 530651 Sector: IT
NSE: N.A. ISIN Code: INE181K01019
BSE 00:00 | 04 Mar Softech Infinium Solutions Ltd
NSE 05:30 | 01 Jan Softech Infinium Solutions Ltd
OPEN 3.67
PREVIOUS CLOSE 3.67
VOLUME 100
52-Week high 3.67
52-Week low 0.00
P/E 8.74
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.67
CLOSE 3.67
VOLUME 100
52-Week high 3.67
52-Week low 0.00
P/E 8.74
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Softech Infinium Solutions Ltd. (SOFTECHINFINIUM) - Auditors Report

Company auditors report

TO THE MEMBERS OF SOFTECHINFINIUM SOL UTIONS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of SOFTECH INFINIUM SOLUTIONSLIMITED ("the company") which comprise the Balance sheet as at 31stMarch2014 the Statement of Profit and Loss and the cash Flow statement for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

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 insection 211(3C) of the company Act 1956 ("the Act") and in accordance with theaccounting principles generally accepted in India. This responsibility includes thedesign implementation and maintenance of internal control relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial 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 withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement. An audit involvedperforming procedures to obtain audit evidence about the amounts and the disclosures inthe financial statements. The procedures selected depend on the auditors’ judgmentincluding the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making 'those risk assessments the auditorconsiders internal control relevant to the company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion theeffectiveness of the company’s internal control. An audit also includes evaluatingthe appropriateness of the accounting policies used and the reasonableness of theaccounting estimates made by the Management as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgive to us the aforesaid financial statements give the information requires by the Act inthe 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 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 of the company for theyear ended on that 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 in terms of section 227(4A) of the Act wegive in the Annexure a statement on the matters specified in paragraphs 4 and 5of theOrder.

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 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 Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with the Accounting Standards notified under the Act (which continueto be applicable in respect of Section 133 of the Companies Act 2013 in terms of GeneralCircular 15/2013 dated September 13 2013 of the Ministry of Corporate Affairs).

(e) On the basis of the written representations received from the Directors taken onrecord by the Board of Directors none of the directors is disqualified as at March 312014 from being appointed as a director in terms of Section 274(1 )(g) of the Act.

Place: Chennai
Date: 03-09-2014 For M/s SB SB AND ASSOCIATES
Chartered Accountants
(Registration No. 012192S)
D.SHARATH KUMAR
Partner
(Membership No. 024568)

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF SOFTECHINFINIUMSOLUTIONS LIMITED.

(Referred to in paragraph 1 under ‘Report on other legal and regulatoryrequirements’ section of our report of even date).

(i) In respect of its fixed assets.

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

(b) The fixed assets were physically verified during year by the Management inaccordance with a programme of verification which in our opinion provides for physicalverification of all the fixed assets at reasonable intervals According to the informationand explanations given to us no material discrepancies were noticed on such verification.

(c) Substantial part of fixed assets has not been disposed off during the year underreview affecting the ‘Going Concern’ status of the company.

(ii) In respect if its inventory;

(a) As explained to us the inventories were physically verified during the year by theManagement at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us theprocedures of physically verification of inventories followed by the Management werereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion and according to the information and explanations given to us thecompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification.

(iii) According to the information and explanations given to us during the year underreport the company has availed Loans from Companies Other Parties listed in the Registermaintained u/s 301 of the Companies Act 1956. The Company has not granted any loanssecured or unsecured to companies firms or other parties covered in the Registermaintained under Section 301 of the companies Act 1956 during the year.

(iv) In our opinion and according to the information and explanations give to us thereis an adequate internal control system commensurate with size of the company and thenature of its business with regard to purchase of inventory and fixed assets and for thesale of goods and services and during the course of our audit we have not observed anymajor weaknesses in such internal control system.

(v) To the best of our knowledge and belief and according to the information andexplanations given to us there were no contracts or arrangement that needed to be enteredin the Register maintained under Section 301 of the company Act 1956.

(vi) According to the information and explanations given to us the company has notaccepted any deposit from the public during the year in terms of the provisions ofSections 58A and 58AA or any other relevant provisions of the company Act 1956.

(vii) In our opinion the company has on adequate internal audit commensurate with thesize and the nature of its business.

(viii) The Central Government has not prescribed the maintenance of Cost Records underSection 209(1) of the Companies Act 1956 for any of the products of the Company.

(ix) According to the information and explanations given to us in respect of statutorydues:

a) The examination of the books and records of the company reveal that the Company hasnot been covered by the provisions of State Insurance and Provident Fund Acts. The grossreceipt is within exemption limit under the Service Tax Act.

b) The company has no arrears of Central Excise Sales Tax or other Statutory dues asat 31st March 2014 for a period of more than six months from the date of becomingpayable. However for the Assessment Year 2013-14 there is Income Tax arrears of Rs. 1.45Lakhs which should have been paid by 15/03/2013 as advance tax.

(x) The examination of books and records shows that the company has no accumulatedlosses. The Company has incurred Cash Losses during this Financial Year covered by myAudit and also has not incurred cash losses in the immediately preceding Financial Year.

(xi) The Company has no dues to a financial institution or bank or debenture holdersduring the financial year ended 31st March 2014.

(xii) The Company has not granted any Loans or Advance on the basis of Security by wayof pledge of Shares Debentures and other Securities.

(xiii) The Company is not a Chit Fund or a Nidhi / Mutual Benefit Fund / Society.Therefore Clause 4(xiii) of the Companies (Auditors Report) Order 2003 is not applicableto the Company.

(xiv) The Company is not dealing in or trading in Shares Securities Debentures andother Investments.

(xv) In my opinion and according to the information and explanations given to me theCompany has not given to any Guarantee for any loans taken by others from Banks andfinancial institutions.

(xvi) To the best of my knowledge and belief and according to the information andexplanations given to me no term loan was availed by the Company during the year.

(xvii) According to the information and explanations given to me and on an overallexamination of the financial records of the Company funds have not been raised on shortterm basis during the year and used for long term investment and vice versa.

(xviii) According to the information and explanations given to us during the yearcovered by our audit the Company has not made preferential allotment of equity shares toparties and companies covered in the register maintained under Section 301 of the Act.

(xix) According to the information and explanations given to me and the Recordsexamined by me no Debentures have been issued during the year.

(xx) The Company has not raised any money by way of Public Issue during the year.

(xxi) To the best of my knowledge and belief and according to the information andexplanations given to me no fraud in or by the Company was noticed or reported during theFinancial year that cause the Financial Statements to be materially misstated.

Place: Chennai
Date : 03-09-2014 For M/s SB SB AND ASSOCIATES
Chartered Accountants
(Registration No. 012192S)
D.SHARATH KUMAR
Partner
(Membership No. 024568)