You are here » Home » Companies » Company Overview » R S Software (India) Ltd

R S Software (India) Ltd.

BSE: 517447 Sector: IT
NSE: RSSOFTWARE ISIN Code: INE165B01029
BSE 00:00 | 20 Aug 40.55 -0.40
(-0.98%)
OPEN

41.15

HIGH

41.75

LOW

40.25

NSE 00:00 | 20 Aug 40.60 -0.15
(-0.37%)
OPEN

40.40

HIGH

41.70

LOW

40.40

OPEN 41.15
PREVIOUS CLOSE 40.95
VOLUME 46659
52-Week high 96.80
52-Week low 33.00
P/E
Mkt Cap.(Rs cr) 104
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 41.15
CLOSE 40.95
VOLUME 46659
52-Week high 96.80
52-Week low 33.00
P/E
Mkt Cap.(Rs cr) 104
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

R S Software (India) Ltd. (RSSOFTWARE) - Auditors Report

Company auditors report

To

The Members of

M/s. R S Software (India) Limited

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind AS financial statements of R S Software(India) Limited ("the Company") which comprise of the Balance Sheet as at 31stMarch 2018 the Statement of Profit and Loss ( including Other Comprehensive Income) theCash Flow Statement for the year then ended the statement of changes in equity for theyear then ended and a summary of the significant accounting policies and other explanatoryinformation (herein after referred to as Standalone Ind AS financial statements)

Management's Responsibility for the Standalone Ind AS 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 standalone Ind AS financial statements that give a trueand fair view of the financial position financial performance including othercomprehensive income & changes in equity and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the IndianAccounting Standards specified under Section 133 of the Act read with relevant rulesissued thereunder. This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgements 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 standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express and opinion on these standalone Ind AS financialstatements based on our audit.

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 required 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 standalone Ind AS financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of standalone Ind AS financial statements whether due to fraud or error. Inmaking those risk assessments the auditor considers internal financial control relevantto the Company's preparation of the standalone Ind AS financial statements that give atrue and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectors as well as evaluating the overall presentation of the standalone Ind ASfinancial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India including the Ind AS of thestate of affairs as at 31st March 2018 and its loss (financial performance including othercomprehensive income) its cash flows and changes in equity for the year ended on thatdate.

Reports on Other Legal and Regulatory Requirements

(i) As required by the Companies (Auditors Report) order 2016 (the Order) issued bythe Central Government of India in terms of section 143 (11) of the Act we give in theAnnexure A a Statement on the matters specified in paragraph 3 and 4 of the order

(ii) 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 purpose 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 including other comprehensiveincome the Cash Flow Statement and statement of changes in equity dealt with by thisReport are in agreement with the books of account.

(d) In our opinion the aforesaid standalone Ind AS financial statements comply withthe Accounting Standards specified under Section 133 of the Act of the Act read with therelevant rules issued there under.

(e) On the basis of the written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in terms of Section164(2) of the Act.

(f ) With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate report in Annexure B and

(g) With respect to the other matters to be includes 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 in its financial statements;

ii. The Company does have long term contracts for which there are no materialforeseeable losses as at the balance sheet date.

iii. There are no amount which are required to be transferred to the InvestorsEducation and Protection Fund by the Company during the year.

For DEOKI BIJAY & Co.
Chartered Accountants
Firm Regn. No : 313105E
CA D.N.AGRAWAL
Dated : 19th April 2018 Partner
Place : Kolkata Memb No. 51157

Annexure A to the Auditors' Report

The Annexure referred to in Independent Auditors' Report to the members of the Companyon the standalone financial statements for the year ended 31st March 2018 we report that

i. a) The Company has generally maintained records of all tangible assets showing fullparticulars including quantitative details except location thereof

b) As explained by the Management all the assets have been physically verified by themanagement during the year- end which in our opinion is reasonable having regard to thesize of the Company and the nature of its assets. No material discrepancies were noticedon such verification

c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the Lease deeds of building of immovableproperty are held in the name of the company.

ii. The Company is a service company primarily rendering software services.Accordingly it does not hold any physical inventories. Thus paragraph 3(ii) of the Orderis not applicable to the Company.

iii. a) On the basis of examination of records and according to the information andexplanation given to us we report that the Company has not granted any loans secured orunsecured to companies firms or other parties covered in the register maintained undersection 189 of the Companies Act 2013.

b) As the Company has not given any loans clause iii(a) iii(b) and clause iii(c) ofparagraph 3 of ‘the order' are not applicable.

iv. On the basis of examination of records and according to information and explanationgiven to us the Company has not granted any loans investments guarantee and security toany person falling under section 185 of the companies act2013

v. The Company has not accepted any deposits and therefore the directives issued by theReserve Bank of India and the provisions of section 73 to 76 or any other relevantprovisions of the companies act 2013 and the rules formed thereunder are not applicable tothe company

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. a) According to information and explanation given to us and as per the records ofthe Company examined by us the Company is generally regular in depositing withappropriate authorities undisputed statutory dues including provident fund employees'state insurance income-tax sales tax service tax duty of customs duty of excisevalue added tax goods and service tax (GST) cess and other statutory dues applicable toit. No statutory dues were outstanding as at 31st March 2018 for a period of more thansix months from the date they became payable.

b) According to the information and explanations given to us no undisputed amountspayable in respect of income tax sales tax service tax duty of customs duty of excisevalue added tax goods and service tax (GST) and other material statutory dues wereoutstanding as at 31st March 2018 on account of any dispute except as follows :

Name of the Statute Nature of dues Amount Period to which the amount relates Forum where dispute is pending
Service Tax Service Tax 3.99 Crores 2007 – 2012 Appeal before CESTAT
Income Tax Income Tax 4.30 Crores AY 2013 – 1 4 CIT (Appeals)
Income Tax Income Tax 10.30 Crores AY 2012 – 13 Appeal filed before the ITAT
Income Tax Income Tax -- AY 2014 – 15 CIT (Appeal)

viii) The Company has not defaulted in repayment of loan and borrowing from bank. Thecompany does not have any loans or borrowings from any financial institution governmentor debenture holders during the year.

ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3(ix) of the Order is not applicable.

x) According to the information and explanation given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

xi) According to information and explanation given to us and as per the records of theCompany examined by us the Managerial remuneration has been paid or provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act.

xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with Section 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

xiv) According the information and explanations given to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

xv) According to the information and explanations given to us and the records of theCompany examined by us the Company has not entered into non-cash transactions withdirectors or persons connected with him. Accordingly paragraph3(xv) of the Order is notapplicable.

xvi) The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For DEOKI BIJAY & Co.
Chartered Accountants
Firm Regn. No : 313105E
CA D.N.AGRAWAL
Dated : 19th April 2018 Partner
Place : Kolkata Memb No. 51157