To the Members of
SMS Techsoft (India) Limited
[Formerly known as AKL soft& Infosys (India) Limited] Coimbatore
Report on the Financial Statements
We have audited the accompanying financial statements of M/s. SMS Techsoft (India)Limited which comprise the Balance Sheet as at March 31 2014 and the Statement ofProfit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in sub-section (3C) ofsection 211 of the Companies Act 1956. This responsibility includes the designimplementation 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.
Our responsibility is to express an opinion on these financial statements based on ouraudit. We have conducted our audit in accordance with the Standards on Auditing issued bythe Institute of Chartered Accountants of India. Those Standards require-that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the 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 the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorc^B&uiers internal control relevant to the Company's preparation and fair presentationof the financial statements in order to design audit procedure* that are appropriate inthe circumstances. An audit also includes evaluating th< appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating the overall presentation o the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.
In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by tte Act in themanner so refiUiret and give 2 true and fair view m conformity with the accountingprinciples generally acceptec in India:
(a) in the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2014;
(b) in the case of the statement Profit and Loss of the "Profit forthe year ended on that date and
(c) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order 2003 as amended by thecompanies ("Auditor's Report) (Amendment) order 2004 (together the"order") issued by the Central Government of India in terms of sub-section(4A)of section 227 of the Act we give in the Annexure a_ statement on the mattersspecified in paragraphs 4 and 5 of the Order.
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 purpose 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account
d. in our opinion the Balance Sheet Statement of Profit and Loss and Cash FlowStatement read together with the Accounting Standards referred to in subsection (3C) ofsection 211 of the Companies Act 1956;
e. on the basis of written representations received from the directors as on March 312014 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2014 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956.
For M/S K R Shah & Associates