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Omega Interactive Technologies Ltd.

BSE: 511644 Sector: Others
NSE: N.A. ISIN Code: INE113B01029
BSE 00:00 | 27 Feb Omega Interactive Technologies Ltd
NSE 05:30 | 01 Jan Omega Interactive Technologies Ltd
OPEN 121.50
PREVIOUS CLOSE 121.50
VOLUME 10
52-Week high 121.50
52-Week low 0.00
P/E 296.34
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 121.50
Sell Qty 7347.00
OPEN 121.50
CLOSE 121.50
VOLUME 10
52-Week high 121.50
52-Week low 0.00
P/E 296.34
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 121.50
Sell Qty 7347.00

Omega Interactive Technologies Ltd. (OMEGAINTERACTIV) - Auditors Report

Company auditors report

To the Members of Omega Interactive Technologies Limited

Report on the financial Statements

We have audited the accompanying financial statements of Omega Interactive TechnologiesLimited ("the Company") which comprise the balance sheet as at March 31 2018and the Statement of Pro t and Loss including the statement of Other ComprehensiveIncome the Cash Flow Statement and the Statement of Changes in Equity for the year thenended and a summary of significant account 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 including Other Comprehensive Income the Cash Flows and theStatement of Changes in Equity 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 maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies making judgement and estimates that are reasonable and prudent anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a 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 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 amountsand disclosures in the financial statements. The procedures selected depend on theauditor's judgement 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. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a

basis for our audit opinion.

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 Act inthe manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31 2018 and its profit including Other Comprehensive Income its Cash Flows and theStatement of Changes in Equity for the year ended on that date.

Report on other legal and Regulatory Requirements

As required by the Companies (Auditors 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 paragraphs 3 and4 of the Order.

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 book of account of accounts as required by law have been keptby

the company so far as it appears from our examination of those books.

c. The Balance Sheet Statement of Pro t and Loss and Cash Flow Statement dealt with by

this Report are in agreement with the books of account.

d. In our opinion the Balance Sheet Statement of Pro t and Loss and Cash Flow

Statement comply with the Accounting Standards 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 March 312018 and taken on record by the Board of Directors none of the directors is disquali edas on March 31 2018 from being appointed as a director in terms of section 164(2) of theAct.

f. With respect to internal financial controls over financial reporting of the Companyand

the operating effectiveness of such controls refer to our separate report in"Annexure B".

g. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

I. The Company does not have any pending litigations which would impact its financialposition

ii. The Company did not have any long-term contracts including derivative contracts forwhich

there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor

Education and Protection Fund by the Company.

iv. The Company has made requisite disclosures in the financial statements as toholdings as well as dealings in Speci ed Bank Notes during the period from 8 November 2016to 30 December 2016. Based on audit procedures and relying on the managementrepresentation we report that the disclosures are in accordance with books of accountsmaintained by the Company and as produced to us by the management.

(Amount in US $)

For Desai Saksena & Associates
Firm Registration No. : 102358W
Chartered Accountants
Alok K Saksena
Place: Mumbai Partner
Date: May 30 2018 Membership No : 035170

Annexure A referred to in our Report of even date to the members of Omega InteractiveTechnologies Limited

for the year ended March 31 2018

As required by Companies (Auditors Report) Order 2016 issued by the Ministry ofCorporate Affairs on the basis of checks of the books and records as we consideredappropriate and according to the information and explanations given to us during thecourse of audit we state as under:-

I (a) The Company does not have any Fixed Assets. Accordingly the provision of clause3(i)(a) (b) and

('c) are not applicable to the company.

ii. The management has conducted the physical veri cation of inventories at reasonableinterval during the period and also at the year end. As informed to us no materialdiscrepancies have been noticed upon such veri cation.

iii. The Company has not granted unsecured loans to 4 parties covered in the registermaintained under section 189 of the Act. Accordingly the provisions of clause 3(iii) (a)to (c') of the order are not applicable to the company and hence not commented upon.

iv. The Company has not granted any loans or provided any guarantees or security to theparties

covered under section 185 & 186 of the Act.

v. The Company has not accepted any deposits and hence directives of the Reserve Bankof India and

the provisions of the Act and the Rules framed there under are not applicable.

vi. We are informed that Company is not required to maintain cost records in terms ofsection 148 of

the Act.

vii. a) The Company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund employee's state insurance incometax service tax custom duty value added tax cess and other material statutory duesapplicable to it

According to the information and explanations given to us the following are thedisputed amounts payable in respect of applicable statutory dues were in arrears for aperiod exceeding six months as at the end of the financial year from the date they becamepayable.

(Amount in US $)

Name of the Statue Forum of Dispute Nature of Amount (Rs.) Period to which amount relates
Income Tax Appellate Tribunal Assessment Dues 548203/-

b) According to the information and explanations given to us there are no dues ofincome tax sales tax or service tax customs duty excise duty or value added tax notbeen deposited on account of any dispute. viii. The Company does not have any loans &borrowings from any financial institutions banks governement or debenture holders duringthe year. Accordingly the provisions of clause 3(viii) of the order are not applicable tothe Company.

ix. The Company has not raised any money by way of public offer further public offer(including debt

instruments) and term loan during the year.

x. Based on the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and as per the information and explanations givenno fraud on or by the Company has been noticed or reported during the year.

xi. In our opinion and according to the information and explanations given to us theCompany has not

paid any managerial remuneration during the year.

xii. The Company is not a Nidhi Company.

xiii. In our opinion and according to the information and explanations given to ustransactions entered by the Company with related parties are in compliance with section188 of the Act to the extent applicable. Being an unlisted Company provisions of section177 of the Act are not applicable. In our opinion details of transactions with therelated parties have been disclosed in the financial statements as required by theapplicable accounting standards.

xiv. The Company has not made any preferential allotment or private placement of sharesor fully or

partly convertible debentures during the year.

xv. According to the information and explanations given to us the Company has notentered into any

non-cash transactions with the Directors or persons connected with him.

xvi. The Company is not required to be registered as Non-banking Finance Company asrequired under

section 45-IA of the Reserve Bank of India Act 1934.

(Amount in US $)

For Desai Saksena & Associates
Firm Registration No. : 102358W
Chartered Accountants
Alok K Saksena
Place: Mumbai Partner
Date: May 30 2018 Membership No : 035170

Annexure B referred to in our Report of even date to the members of OmegaInteractiveTechnologies Limited for the year ended March 31 2018

Report on the Internal financial Controls under Clause (i) of Sub-section 3 of Section143

of the Act

We have audited the internal financial controls over financial reporting of OmegaInteractive Technologies Limited ("the Company") as at March 31 2018 inconjunction with our audit of the standalone financial statements of the Company for theyear ended on that date. Management's Responsibility for Internal financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal financial control over financial reportingcriteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal financial Controls over financialReporting issued by the ICAI. These responsibilities include the design implementationand maintenance of adequate internal financial controls that were operating effectivelyfor ensuring the orderly and efficient conduct of its business including adherence toCompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Act.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over

financial reporting based on our audit.

We conducted our audit in accordance with the Guidance Note on Audit of Internalfinancial Controls Over financial Reporting (the "Guidance Note") and theStandards on Auditing issued by the Institute of Chartered Accountants of India("the ICAI") and deemed to be prescribed under section 143(10) of the Act tothe extent applicable to an audit of internal financial controls both applicable to anaudit of Internal financial Controls and both issued by the ICAI. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingincluding obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor's judgement including the assessment of therisks of material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a

basis for our audit opinion on the Company's internal financial controls over financialreporting.

Meaning of Internal financial Controls Over financial Reporting

A Company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A

Company's internal financial control over financial reporting includes those policiesand procedures that (1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of theCompany; (2) provide reasonable assurance that transactions are recorded as necessary topermit accepted accounting principles and that receipts expenditures of the Company arebeing made only in accordance with authorizations of management and directors of theCompany; and (3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the Company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal financial Controls Over financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliances with the policies or procedures may deteriorate. Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2018 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal financial control stated in the Guidance Note onAudit of Internal financial Controls Over financial Reporting issued by the ICAI.

For Desai Saksena & Associates Firm Registration No. : 102358W CharteredAccountants

Alok K Saksena Place: Mumbai Partner

Date: May 30 2018 Membership No : 035170

OMEGA INTERACTIVE TECHNOLOGIES LIMITED