We have audited the accompanying financial statements of ADVENT
COMPUTER SERVICES LIMITED as at 31st March 2015, which comprise the
Balance Sheet as at 31st March 2015 and the Statement of Profit and
Loss and the Cash Flow Statement for the year ended on that date, and a
summary of significant accounting policies and other explanatory
2. Management''s Responsibility for the Financial Statements :
Management is responsible for the matters stated in Section 134(5) of
the Companies Act,2013with respect to 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 principles generally accepted in India,
including the Accounting Standards specified under Section 133 of the
Act read with Rule 7 of the Companies (Accounts) Rules, 2014. 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.
3. Auditor''s Responsibility :
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with 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 audit to obtain reasonable
assurance about whether the financial statements are free from material
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. 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
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
In our opinion and to the best of our information and according to the
explanations given to us, the said Financial Statements give the
information required by the Act in the manner so required; 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 31st March, 2015;
ii. in the case of the Profit and 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 for the
year ended on that date.
5. Report on Other Legal and Regulatory Requirements :
As required by the Companies (Auditor''s Report) Order 2015 issued by
the Central Government of India in terms of sub section 143(11) of the
Act , we give in the Annexure a statement on the matters specified in
paragraph 3 & 4 of the said Order.
Further to our comments in the Annexure referred to above, we report
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
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
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
d) In our opinion the Balance Sheet, Profit and Loss Account and Cash
Flow Statement dealt with by this report comply with the Accounting
Standards specified under Section 133 of the Companies Act, 2013 read
with Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of the written representations received from the
directors as on 31st March, 2015 and taken on record by the Board of
Directors, we report that none of the directors are disqualified as on
31st March, 2015 from being appointed as a director in terms of section
164(2) of the Companies Act'' 2013;
f) With respect to other matters to be included in the Auditors Report
in accordance with Rule 11 of the Companies ( Audit and Auditors) Rules
2014, in our opinion and to the best of our information and according
to the explanations given to us :
i. The Company is not having any pending litigations. Hence no
disclosure made on the impact of pending litigations on its financial
position in its financial statements.
ii. The Company did not have any longterm contracts including
derivative contracts for which there were any material foreseeable
iii. There were no amounts which were required to be transferred to the
investor education and protection fund by the company.
ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT
(Referred to in paragraph 2 of the Auditor''s Report of even date to the
members of Advent Computer Services Limited on the
accounts for the year ended 31st March, 2015)
1. a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
b) As explained to us, the fixed assets of the Company have been
physically verified by the Management during the year in a phased
periodical manner, which in our opinion is reasonable, having regard to
the size of the Company and nature of its assets. In accordance with
the phased program of verification, certain fixed assets were verified
during the year and no material discrepancies were noticed on such
c) Fixed Assets disposed off during the year were not substantial, and
therefore, do not affect the going concern assumption.
2. The company does not have any inventory.
3. a) The Company has not granted any loans, secured or unsecured, to
companies, firms or other parties listed in the Register maintained
under Section 189 of the Act.
b) The Company has not taken any loans, secured or unsecured, from
companies, firms or other parties listed in the Register maintained
under section 189 of the Act.
4. In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business with regard
to the purchase of fixed assets and for the sale of services. Further
on the basis of our examination of the books and information and as per
the explanations given to us, we have neither come across nor have we
been informed of any instance of continuing failure to correct major
weaknesses in the aforesaid internal control.
5. There are no contracts that are required to be entered into the
register maintained under Section 189 of the Companies Act.
6. The Company has not accepted any deposits from the public under
Section 73 to Section 76 or anyother relevant provisions of the
Companies Act, 2013 and rules framed thereunder.
7. In our opinion, the Company has an internal audit system, which in
our opinion is commensurate with the size and nature of its business.
8. According to the information and explanation given to us, the
Central Government has not prescribed for the maintenance of cost
records under section 148(1) of the Companies Act, 2013.
9. a) According to the information and explanations given to us and
the records of the Company examined by us, in our opinion the Company
has been generally regular in depositing, with the appropriate
authorities, undisputed statutory dues including Provident Fund,
Employees State Insurance, Income Tax, Customs Duty, Cess and other
material statutory dues as applicable.
b) According to the information and explanations given to us, and
relevant documents provided to us there are no undisputed outstanding
statutory dues that have not been deposited on account of any dispute.
10. The Accumulated losses of the company are not more than 50 percent
of its net worth. The company has not incurred cash losses during the
year covered by our audit and in the immediate preceding financial
11. In our opinion and according to the information and explanations
given to us, the Company has not defaulted in repayment of dues to any
financial institution, bank or debenture holder.
12. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. In our opinion and according to the information and explanations
given to us, the Company is not a chit fund or a nidhi/ mutual benefit
14. The Company has not dealt with shares, securities, debentures and
other investments during the year covered by our audit.
15. According to the information and explanations given to us the
Company has not given any guarantee for loans taken by others from
banks or financial institutions.
16. According to the information and explanations given to us and
documents produced before us the company has not obtained any term
17. According to the information and explanations given to us and an
overall examination of the Balance Sheet of the Company, we report that
no funds raised on short-term basis have been used for long-term
investment and vice-versa.
18. The Company has not made any preferential allotment of shares
during the year, to parties and companies covered in the register
maintained under section 189 of the Companies Act, 2013.
19. According to the information and explanations given to us, during
the year covered by our audit report, the company has not issued any
20. The company has not raised any money by public issue during the
21. During the course of our examination of the books and records of
the Company carried out in accordance with the generally accepted
auditing practices in India, 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 course of our audit.
For Vivekanandan Associates
Membership No: 021628
Date: 28 th May, 2015