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CCS Infotech
BSE: 532405|ISIN: INE661B01019|SECTOR: Computers - Hardware
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« Mar 11
Auditor's Report (CCS Infotech) Year End : Mar '12
1.  We have audited the attached Balance Sheet of M/S CCS INFOTECH
 LIMITED, Chennai as at 31st March 2012, the Profit & Loss Account and
 the Cash Flow Statement for the year ended on that date annexed
 thereto. These financial statements are the responsibility of the
 Company's Management. Our responsibility is to express an opinion on
 these financial statements based on our Audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An Audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003 as amended by the Companies (Auditor Report) (Amendment) Order 2004 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act 1956, we enclose in the Annexure a statement on the matters specified in the paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, we report that:

a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) In our opinion, proper books of accounts as required by law have been kept by the Company in their Head Office as well as in Branches so far as appears from our examination.

c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the Books of Accounts.

d) In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report read with notes thereon comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act 1956 excepting that of AS 15 with reference to the retirement benefits to the employees which had not been quantified and provided for in the books of accounts.

e) On the basis of written representations received from the Directors, as on 31st March 2012 and taken on record by Board of Directors; we report that none of the Directors is disqualified as on 31st March 2012 from being appointed as a Director in terms 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 explanations given to us, the said accounts read with the notes thereon give the information required by the Companies Act 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) In the case of the Balance Sheet, of the state of affairs of the company as at March 31, 2012

ii) In the case of the Profit & Loss Account, of the Profit for the year ended on that date; and

iii) In the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date.

ANNEXURE TO AUDITORS' REPORT

I. In respect of its fixed assets:

a) The Company has maintained proper records showing particulars of fixed assets including quantitative details and situation of fixed assets on the basis of available information.

b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

c) In our opinion, the Company has not disposed off a substantial part of its fixed assets during the year and the going concern status of the Company is not affected.

II. In respect of its inventories:

a) The inventories have been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

c) The Company has maintained proper records of inventories. As explained to us, there is no material discrepancies noticed on physical verification of inventories as compared to the book records.

III. The Company has not granted loan to Companies, firms, or other parties covered in the Register maintained under section 301 of the Companies, Act 1956.

IV. In Our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and also for the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

V. According to the information and explanations provided to us, we are of the opinion that the transactions that need to be entered into the Register maintained under section 301 of the Companies Act 1956 have been so entered and the transactions have been made at prices which are reasonable having regard to prevailing market prices at the relevant time and are not prejudicial to the interest of the Company as declared and confirmed by the Directors of the Company.

VI. According to the information and explanations given to us, the Company has not accepted any deposits from the Public. Therefore, the provisions of Clause (VI) if paragraph 4 of the Order is not applicable to the Company.

VII. In our opinion, the Company has an internal audit system commensurate with the size of and nature of its business.

VIII. It was informed by the Management, that the maintenance of Cost Records under section 209(1) (d) of the Companies Act 1956 and the Rules made by the Central Government relating thereto are not applicable and hence prescribed accounts and records have not been maintained by the Company.

IX. The Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Excise duty, Service Tax and Cess as certified by the management, According to the information and explanations given to us, and as certified by the Directors of the Company, no undisputed amounts payable in respect of income tax, Sales Tax, Excise duty, Service Tax and Cess were in arrears at 31-03-2012 for a period of more than six months from the date they became payable subject to the comments given in the notes on accounts. However Tax assessments and Appeals are pending before the relevant authorities as mentioned in the notes on accounts for different earlier years in respect of statutory dues namely income tax and any liabilities arising out of such orders could not be estimated and hence not provided for.

X. There are no accumulated losses of the company as on 31-03-2012. The Company has not incurred any cash loss during the financial year covered by our audit and in the immediately preceding financial year.

XI. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to financial institutions or banks.

XII. The Company has not sanctioned any loans and advances on the basis of security by way of pledge of shares, debentures or other securities.

XIII. In our opinion, the company is not a chit fund or nidhi/mutual benefit fund/ society. Therefore the provisions of Clause 4(xiii) of the Companies (Auditors' Report) Order 2003 as amended are not applicable to the company.

XIV. In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of Clause (xiv) of the Companies (Auditors' Report) Order as amended are not applicable to the Company.

XV. As Certified by the Directors of the Company, it has not given any guarantees for loans taken by others from Banks or financial institutions and hence commenting on the same does not arise.

XVI. The Company has not raised any term loan during the year.

XVII. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we are of the opinion that there are no funds raised on short term basis that have been used for long term investments.

XVIII. The Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act.

XIX. According to the information and explanations given to us, the Company has not issued any Debentures during the year.

XX. The Company has not raised any monies by way of public issues during the year.

XXI. In our opinion and according to the information and explanations given to us, no material fraud on or by the company has been noticed or reported during the year.

Subbiah & Co

Chartered Accountants

M.R.Subbiah

Place: Chennai Proprietor

Date :

Source : Dion Global Solutions Limited
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