To the Members of
MULTEPLUS HOLDINGS LIMITED.
We have Audited the attached Balance Sheet of MULTIPLUS HOLDINGS LIMITED as at31st March 2015.and the Profit & Loss Account for the year ended on that date annexedthereto. These financial statements are the responsibility of the Companysmanagement. Our responsibility is to express an opinion on theses financial statementsbased on our audit.
We conducted our audit in accordance with auditing standards generally accepted inIndia. Those standards 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 die financial statements. An audit also includes assessing the accounting principalused and significant estimates made by management as well as evaluating the overallfinancial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.
We report as follows:
1) As required by the Companies (Auditors Report) Order 2003 issued by theCentral 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 & 5 ofthe said order.
2) Further to our comments in the Annexure referred to above we state 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 appears from our examination of these books;
c) The Balance Sheet and the Profit and Loss Account and Cash Flow Statement dealt withby this report are in agreement with the books of account;
d) In our opinion the Balance Sheet and the Profit & Loss Account dealt with bythis report comply with the mandatory Accounting Standards referred in sub-section (3C) ofSection 211ofthe Companies Act 1956
e) On the basis of the written representations received from the Directors as on 31stMarch 2015 and taken on record by the Board of Directors we report that none of theDirectors are disqualified as on 31st March 2015 from being appointed as a Directors interms of Clause (g) of sub section (1) of Section 274 of the Companies Act 1956;
f) In our opinion and to the best of our information and according to the explanationsgiven to us the said accounts read together with the notes give the information requiredby the Companies Act 1956 and in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India:
i) In so far as it relates to Balance Sheet of the state of affairs of the Company asat 31 st March 2015.
ii) In so far as it relates to Profit and Loss Account of the profit of the Company forthe year ended on that date.
iii) Cash Flow Statement of the Company for the year ended on that date.
| ||FOR HARDIK PARASIA & ASSOCIATES |
| ||Chartered Accountants |
| ||HARDIK PARASIA |
|Place: Mumbai ||(Proprietor) |
|Date: 30th May 2015 ||M NO. 153635 |
ANNEXURE TO AUDITORS REPORT
Re: MULTIPLUS HOLDINGS LIMITED.
Referred to in point no. 1 of our report of even date.
i. In respect of its Fixed Assets:
(a) The company has maintained proper records showing particulars includingquantitative details and situation of fixed assets.
(b) The fixed assets have been physically verified by the management at reasonableintervals. We have been informed that no material discrepancies were noticed on suchverification.
(c) Substantial part of fixed assets have not been disposed off during the year.
ii. In respect of its inventories:
The company does not possess stock in trade of any kind whatsoever. Under thesecircumstances the question of:
a) Physical Verification of Stocks;
b) Procedure for physical verification of Stocks;
c) Discrepancies between physical verification of Stocks and book records; and
d) Verification and Valuation of Stocks; does not arise.
iii. In respect of loans secured or unsecured granted or taken by the Company to/fromcompanies firms or other parties covered in the register maintained under Section 301 ofthe Companies Act 1956:
a) The company has not granted any loan secured or unsecured to any party listed in theregister maintained under section 301 of the Companies Act 1956 .Accordingly paragraphs 4(iii) (a) (b) (c) (d) (e) (1) and (g) of Companies (Auditors Report) Order2003(as ammended) are not applicable.
b) The company has not taken any loans secured or unsecured from party listed in theregister maintained under section 301 of the Act.
iv. In our opinion and according to the information and explanation given to us thereis adequate internal control system commensurate with the size of the Company and thenature of its business. During the course of our audit we have not observed any majorweaknesses in internal controls.
v. In respect of transactions covered under Section 301 of the Companies Act 1956 inour opinion and according to the information and explanations given to us:
a) The transaction made in pursuance of contracts or arrangements that needed to beentered into a register maintained under Section 301 of the Companies Act 1956 have beenso entered.
b) In our opinion The Company has not entered into any transactions exceeding thevalue of five lakh rupees in respect of any party during the Financial Year and hence thequestion of verifying the reasonableness of prices having regard to the prevailing marketprices at the relevant time does not arise.
vi. In our Opinion and according to the information and explanations given to us theCompany has not accepted any deposit from the public as per Section 58A and 58AA of theCompanies Act 1956 and the Companies (Acceptance of deposits) Rules 1975.
vii. In our opinion the company has an internal audit system commensurate with itssize' and nature of its business.
viii. The Central Government has not prescribed maintenance of Cost Records underSection 209 (1) (d) of the Compan ies
ix. In respect of statutory dues:
a) The company is regular in depositing undisputed statutory dues including ProvidentFund Investor Education and Protection Fund Employees State Insurance Income-taxSales-tax Wealth Tax Custom Duty Excise Duty Cess and any other statutory dues withthe appropriate authorities where ever applicable.
b) According to the information & explanations given to us no undisputed amountspayable in respect of Income-tax Sales-tax Wealth Tax Custom Duty Excise Duty and Cesswere in arrears as at 31st March 2014 for a period of more than 6 months from the datethey became payable.
c) According to the information & explanations given to us there are no dues ofIncome-tax Sales-tax Wealth Tax Custom Duty Excise Duty and Cess which have not beendeposited on account of any dispute.
x. Company has no accumulated losses and has not incurred any cash losses during theFinancial Year covered by our audit or in the immediately preceding Financial Year.
xi. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto financial institutions or banks. The Company has not raised any money by issue ofdebentures.
xii. Tn our opinion and according to the information and explanation given to us noloans and advances have been granted by the Company on the basis of security by way ofpledge of shares debentures and other securities.
xiii. In our opinion the Company is not a chit fund or a nidhi/mutual benefitfund/society. Therefore the provisions of clause 4(xiii) of the Companies (AuditorsReport) Order 2003 are not applicable to the Company.
xiv. In our opinion the Company has maintained proper records of dealing in or tradingin shares securities debentures and the securities stands in the name of the company.
xv. The company has not given any guarantee for loans taken by others from bank orfinancial institutions.
xvi. The company has not availed of any term loans hence the question of it beingapplying for the purpose for which it is obtained does not arise.
xvii. According to the information and explanations given to us and on an overallexamination of the Balance Sheet of the Company we are of the opinion that the fundsraised on short-term basis have not been used for long-term investments during the year.
xviii. During the year the Company has not made any preferential allotment of sharesto parties and companies covered in the Register maintained under Section 301 of theCompanies Act 1956.
xix. The Company has not raised any monies by issue of debentures.
xx. In our opinion and according to the information and explanations given to us nofraud on or by the company has been noticed or reported during the year.
| ||FOR HARDIK PARAS lA & ASSOCIATES |
| ||Chartered Accountants |
|Place: Mumbai ||HARDIK PARAS LA |
|Date: 30th May 2015 ||(Proprietor) |
| ||M. NO. 153635 |