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Unisys Software and Holding Industries Ltd.

BSE: 531831 Sector: Financials
NSE: N.A. ISIN Code: INE200B01016
BSE 00:00 | 14 Mar 8.69 0
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NSE 05:30 | 01 Jan Unisys Software and Holding Industries Ltd
OPEN 8.69
PREVIOUS CLOSE 8.69
VOLUME 25
52-Week high 22.45
52-Week low 8.69
P/E
Mkt Cap.(Rs cr) 20
Buy Price 0.00
Buy Qty 25.00
Sell Price 8.69
Sell Qty 10641.00
OPEN 8.69
CLOSE 8.69
VOLUME 25
52-Week high 22.45
52-Week low 8.69
P/E
Mkt Cap.(Rs cr) 20
Buy Price 0.00
Buy Qty 25.00
Sell Price 8.69
Sell Qty 10641.00

Unisys Software and Holding Industries Ltd. (UNISYSSOFT) - Auditors Report

Company auditors report

To

The Members of

Unisys Softwares & Holding Industries Limited

Report on the Financial Statements

1. We have audited the accompanying financial statements of Unisys Softwares &Holding Industries Limited which comprise the Balance Sheet as at 31st March 2018the Statement of Profit and Loss and the Cash Flow Statement for the year then ended anda summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

2. The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows 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 the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating 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.

Auditors' Responsibility

3. Our responsibility is to express an opinion on these financial statements based onour audit. We have taken into account the provisions of the Act the accounting andauditing standards and matters which are required to be included in the audit report underthe provisions of the Act and the Rules made there under.

4. We have taken into account the provisions of the Act and the Rules made thereunderincluding the accounting standards and matters which are required to be included in theaudit report.

5. We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act and other applicable authoritative pronouncements issued by theInstitute of Chartered Accountants of India. Those Standards and pronouncements requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

6. An audit involves performing procedures to obtain audit evidence about the amountsand the disclosures in the financial statements. The procedures selected depend on theauditors' judgment 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 the financial statements that give a true and fair view inorder to design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

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

Opinion

8. 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 Actin the 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 and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

9. As required by "the Companies (Auditor's Report) Order 2016 ("theOrder")" issued by the Central

Government of India in terms of sub-section (11) of section 143 of the Act (hereinafterreferred to as the

"Order") and on the basis of such checks of the books and records of theCompany as we consider appropriate and according to the information and explanation givento us we give in the Annexure "A" a statement on the matters specified in theparagraph 3 and 4 of the Order.

10. 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 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 the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards 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 31 March2018 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2018 from being appointed as a director in terms of Section 164(2) of theAct.

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".

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 knowledge and according the explanations given to us we reportthat :

i. The Company has disclosed the impact of pending litigations if any on itsfinancial position in its financial statements; however there isn't any litigationspending against the name of the company so far as appeared from the records and has beentold to us by the management.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts; however no such losses are been foreseeable in near future by thecompany's management.

iii. There has been no requirement in transferring amounts to the Investor Educationand Protection Fund by the Company.

For B. S. Kedia & Co.
Chartered Accountants
ICAI Registration No. 317159E
Place : Kolkata Vikash Kedia
Date : May 29 2018 Proprietor
Membership No.066852

Annexure "A" to the Independent Auditors' Report

Referred to in paragraph 9 of the Independent Auditors' Report of even date to themembers of Unisys Softwares & Holding Industries Limited on the standalone financialstatements for the year ended March 31 2018 –

1) a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

b) These fixed assets have been physically verified by the management at reasonableintervals; no material discrepancies were noticed on such verification the same have beenproperly dealt with in the books of account;

2) a) The management has conducted physical verification of inventory at reasonableintervals during the year.

b) The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

c) The company is maintaining proper records of inventory and no material discrepancieswere noticed on physical verification.

3) The Company has not granted any loan to any parties covered in the registermaintained under section 189 of the Companies Act 2013 and hence clauses (b) & (c)are not applicable.

4) The Company has not granted loans or made investment or given any guarantee orsecurity as covered in the provisions of section 185 and 186 of the Companies Act 2013therefore Clause (IV) of the order is not applicable to the company.

5) The Company has not accepted any deposits from the public within the meaning ofSections 73 74 75 and 76 of the Act and the Rules framed there under to the extentnotified.

6) The requirement of maintaining Cost Records as specified by the Central Governmentunder section 148(1) of the Companies Act 2013 is not applicable to the company.

7) a) The Company is regular in depositing with appropriate authorities undisputedstatutory dues including provident fund investor education and protection fundemployees' state insurance income-tax sales-tax wealth-tax service tax customs dutyexcise duty cess and other material statutory dues applicable to it.

b) According to the information and explanations given to us no disputed amountspayable in respect of provident fund investor education and protection fund employees'state insurance income-tax wealth-tax service tax customs duty excise duty cess andother material statutory dues were outstanding at the year end for a period of more thansix months from the date they became payable.

c) According to the information and explanations given to us the dues outstanding ofincome tax sales-tax service tax duty of customs duty of excise or value added taxwhich have not been deposited on account of any dispute are as follows:

Name of the Statue Nature of Dues Disputed Amount (Rs ) Financial Year for which it relates Forum where dispute is pending
Income Tax Act 1961 Income Tax 7500980/- 2012-13 Income Tax Appellate
Income Tax Act 1961 Income Tax 2655090/- 2013-14 Income Tax Appellate
Income Tax Act 1961 Income Tax 30430430 2014-15 Income Tax AppellateCIT

d) The Company is not required to transfer any funds to the Investor Education andProtection Fund in accordance with the relevant provisions of the Companies Act.

8) The Company has not taken loan from any financial institution or bank thereforeClause (VIII) of the order is not applicable to the company.

9) According to the information and explanations given to us the Company has notraised any money by way of initial public offer or further public offer hence notcommented upon.

10) Based on the Audit procedures performed for the purpose of reporting the true andfair view of financial statements and according to the information and explanationsprovided to us we report that no material fraud by the Company or on the Company by theofficers and employees of the Company has been noticed or reported during the year.

11) According to the information and explanations given to us the managerialremuneration has been paid and provided in accordance with the requisite approvalsmandated by the provisions of Section 197 read with Schedule V of the Act.

12) In our opinion the Company is not a nidhi company. Therefore the provisions ofClause 3(xii) of the order are not applicable to the Company and hence not commented upon.

13) According to the information and explanations given to us transactions withrelated parties are in compliances with section 177 and 188 of the Act where applicableand details have been disclosed in the notes to the financial statements as required bythe applicable accounting standards.

14) According to the information and explanations given to us and on overallexamination of Balance Sheet the Company has not made any Preferential Allotment orprivate placement of Shares or fully or partly convertible debentures during the year andhence reporting requirements under clause 3(xiv) are not applicable to the Company andnot commented upon.

15) According to the information and explanations given to us the Company has notentered into any non-cash transactions with Directors or persons connected with him.

16) The Company is already registered under section 45-IA of the Reserve Bank of IndiaAct 1934.

For B. S. Kedia & Co.
Chartered Accountants
ICAI Registration No. 317159E
Place : Kolkata Vikash Kedia
Date : May 29 2018 Proprietor
Membership No.066852

Annexure "B" to the Independent Auditors' Report

Referred to in paragraph 10(f) of the Independent Auditors' Report of even date to themembers of Unisys Softwares & Holding Industries Limited on the standalone financialstatements for the year ended March 31 2018 Report on the Internal Financial Controlsunder Clause (i) of Sub-section 3 of Section 143 of the Act

1. We have audited the internal financial controls over financial reporting of UnisysSoftwares & Holding Industries Limited ("the Company") as of March 31 2018in conjunction with our audit of the standalone financial statements of the Company forthe year ended on that date.

Management's Responsibility for Internal Financial Controls

2. The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India (ICAI). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Act.

Auditors' Responsibility

3. 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 accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing deemed to be prescribedunder section 143(10) of the Act to the extent applicable to an audit of internalfinancial controls both applicable to an audit of internal financial controls and bothissued by the ICAI. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the 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 reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

5. 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 systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

6. A company's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that –

a) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

b) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

c) provides reasonable assurance regarding prevention or timely detection ofnauthorized 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

7. 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 compliance with the policies or procedures may deteriorate.

Opinion

8. 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 control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For B. S. Kedia & Co.
Chartered Accountants
ICAI Registration No. 317159E
Place : Kolkata Vikash Kedia
Date : May 29 2018 Proprietor
Membership No.066852