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Total Exports
BSE: 523878|ISIN: INE109E01013|SECTOR: Computers - Hardware
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Mar 12
Auditor's Report (Total Exports) Year End : Mar '13
REPORT ON THE FINANCIAL STATEMENTS
 
 1.  We have audited the accompanying financial statements of Total
 Hospitality Limited (the Company), which comprise the Balance Sheet
 as at March 31, 2013, and the Statement of Profit and Loss and Cash
 Flow Statement for the year ended, and a summary of significant
 accounting policies and other explanatory information.
 
 MANAGEMENT''S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
 
 2.  Management is responsible for the preparation of these financial
 statements that give a true and fair view of the financial position,
 financial performance and cash flows of the Company in accordance with
 the Accounting Standards referred to in sub-section (3C) of section 211
 of the Companies Act, 1956 (the Act). This responsibility includes
 the design, implementation and maintenance of internal control relevant
 to the preparation and presentation of the financial statements that
 give a true and fair view and are free from material misstatement,
 whether due to fraud or error.
 
 AUDITOR''S RESPONSIBILITY
 
 3.  Our responsibility is to express an opinion on these financial
 statements based on our audit. We conducted our audit in accordance
 with the Standards on Auditing issued by the Institute of Chartered
 Accountants of India. Those Standards require that we comply with
 ethical requirements and plan and perform the audit to obtain
 reasonable assurance about whether the financial statements are free
 from material misstatement.
 
 4.  An audit involves performing procedures to obtain audit evidence
 about the amounts and disclosures in the financial statements. The
 procedures selected depend on the auditor''s judgment, including the
 assessment of the risks of material misstatement of the financial
 statements, whether due to fraud or error. In making those risk
 assessments, the auditor considers internal control relevant to the
 Company''s preparation and fair presentation of the financial statements
 in order to design audit procedures that are appropriate in the
 circumstances, but not for purpose of expressing an opinion on the
 effectiveness of the Companies internal control.  An audit also
 includes evaluating the appropriateness of accounting policies used and
 the reasonableness of the accounting estimates made by management, as
 well as evaluating the overall presentation of the financial
 statements.
 
 5.  We believe that the audit evidence we have obtained is sufficient
 and appropriate to provide a basis for our audit opinion.
 
 Opinion
 
 6. In our opinion and to the best of our information and according to
 the explanations given to us, the financial statements give the
 information required by the Act in the manner so required and give a
 true and fair view in conformity with the accounting principles
 generally accepted in India:
 
 (a) in the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31, 2013;
 
 (b) in the case of the Profit and Loss Account, of the profit/ loss for
 the year ended on that date; and
 
 (c) in the case of the Cash Flow Statement, of the cash flows for the
 year ended on that date.
 
 REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
 
 1.  As required by the Companies (Auditor''s Report) Order, 2003 (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 matters specified 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 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 the Company so far as appears from our examination of those
 books;
 
 c.  the Balance Sheet, Statement of Profit 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 Profit and Loss,
 and Cash Flow Statement comply with the Accounting Standards referred
 to in sub-section (3C) of section 211 of the Companies Act, 1956;
 
 e.  on the basis of written representations received from the directors
 as on March 31, 2013, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31, 2013, from being
 appointed as a director in terms of clause (g) of sub- section (1) of
 section 274 of the Companies Act, 1956.
 
 
 
 Annexure to the Independent Auditor''s Report
 
 (Referred to in paragraph 1 under ''Report on Other Legal and Regulatory
 Requirements'' section of our report of even date)
 
 I.  Having regard to the nature of the company''s business/ activities
 during the year, clause (xiii) of paragraph 4 of the order is not
 applicable to the company.
 
 II.  Company has no fixed assets, hence this clause of the order is not
 applicable.
 
 III.  No inventory is held by the company, hence this clause of the
 order is not applicable.
 
 IV.  According to the information and explanations given to us and on
 the basis of our examination of the books of account, the Company has
 not granted/taken any loans, secured or unsecured, to companies, firms
 or other parties listed in the register maintained under Section 301 of
 the Companies Act, 1956.  Consequently, the provisions of clauses iii
 (b), iii(c), iii (d), iii(e) and iii(f) of the order are not applicable
 to the Company.
 
 V.  In our opinion and according to the information and explanations
 given to us, there is generally an adequate internal control procedure
 commensurate with the size of the company and the nature of its
 business, for the purchase of inventories & fixed assets and payment
 for expenses & for sale of goods.  During the course of our audit, no
 major instance of continuing failure to correct any weaknesses in the
 internal controls has been noticed.
 
 VI.  According to the information and explanations given to us, there
 are no contracts or arrangements referred to in section 301 of the
 Companies Act, 1956 that need to be entered in the register required to
 be maintained under that section. Accordingly, Clause (VI) of the Order
 is not applicable to the Company.
 
 VII.  The Company has not accepted any deposits from the public covered
 under section 58A and 58AA of the Companies Act, 1956.
 
 VIII.  As per information & explanations given by the management, the
 Company has an internal audit system commensurate with its size and the
 nature of its business.
 
 IX.  As per information & explanation given by the management,
 maintenance of cost records has not been prescribed by the Central
 Government under clause (d) of sub-section (1) of section 209 of the
 Act for the activities carried on by the company.
 
 X.  (a) According to the records of the company, undisputed statutory
 dues including Provident Fund, Investor Education and Protection Fund,
 Employees'' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service
 Tax, Custom Duty, Excise Duty, cess to the extent applicable and any
 other statutory dues have generally been regularly deposited with the
 appropriate authorities. According to the information and explanations
 given to us there were no outstanding statutory dues as on 31st March,
 2013 for a period of more than six months from the date they became
 payable.
 
 (b) According to the information and explanations given to us, there is
 no amounts payable in respect of income tax, wealth tax, service tax,
 sales tax, customs duty and excise duty which have not been deposited
 on account of any disputes.
 
 XI.  The Company has accumulated losses and has incurred cash loss
 during the financial year covered by our audit and in the immediately
 preceding financial year.
 
 XII.  Based on our audit procedures and on the information and
 explanations given by the management, we are of the opinion that, the
 Company has not defaulted in repayment of dues to a financial
 institution, bank or debenture holders.
 
 XIII.  According to the information and explanations given to us, the
 Company has not granted loans and advances on the basis of security by
 way of pledge of shares, debentures and other securities.
 
 XIV.  According to information and explanations given to us, the
 Company is not trading in Shares, Mutual funds & other Investments.
 Proper records & timely entries have been maintained in this regard &
 further investments specified are held in their own name.
 
 XV.  According to the information and explanations given to us, the
 Company has not given any guarantees for loan taken by others from a
 bank or financial institution.
 
 XVI.  Based on our audit procedures and on the information given by the
 management, we report that the company has not raised any term loans
 during the year.
 
 XVII.  Based on the information and explanations given to us and on an
 overall examination of the Balance Sheet of the Company as at 31st
 March, 2013, we report that no funds raised on short-term basis have
 been used for long-term investment by the Company.
 
 XVIII.  Based on the audit procedures performed and the information and
 explanations given to us by the management, we report that the Company
 has made preferential allotment of equity shares during the year and
 the price at which shares have been issued are not prejudicial to the
 interest of the company.
 
 XIX.  The Company has no outstanding debentures during the period under
 audit.
 
 XX.  The Company has not raised any money by public issue during the
 year.
 
 XXI.  Based on the audit procedures performed and the information and
 explanations given to us, we report that no fraud on or by the Company
 has been noticed or reported during the year, nor have we been informed
 of such case by the management.
 
                                                For Om Harendra and Co.
 
                                                 Chartered Accountants
 
                                                          FRN: 024307N
 
                                                                  Sd/-
 
                                                        Harendra Kumar
 
 Place: Gurgaon                                                Partner
 
 Date : 30.05.2013                              (Membership No: 518078)
Source : Dion Global Solutions Limited
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