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Allied Computers International (Asia) Ltd.

BSE: 532919 | NSE: | Series: NA | ISIN: INE335I01056 | SECTOR: Computers - Software Medium & Small

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Allied Computers International (Asia) is not traded on BSE in the last 30 days

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Allied Computers International (Asia) is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2008

Auditor's Report

We have audited the attached Balance Sheet of Allied Computers International (Asia) Limited as at 31st March, 2012 and also the profit & loss Account and the Cash flow Statement for the year ended on that date annexure thereon. These Financial Statements are the responsibility of the company management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about wither 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. All audit also includes assessing the accounting principles used and significant estimates made by the management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

As required by the Companies (Audit Report) Order, 2003 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 statement in the matters specified in paragraphs 4 and 5 of the said Order.

i) 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.

ii) In our opinion proper books of accounts as required by law have been kept by the company so far as appears from our examination of the books.

iii) The Balance Sheet and profit & loss Account and the Cash flow statement dealt with by this report are in agreement with the books of accounts.

iv) In our opinion, the Balance Sheet and profit and loss account dealt with by this report with the Accounting standards referred to in sub- section (3C) of section 211 of the companies Act, 1956.

v) On the basis of the written representations received from the directors as on 31st March, 2012 and taken on record by the 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 (I) of section 274 of the companies Act, 1956.

vi) In Our opinion and to the best of our information and according to the explanation given to us, the accounts read with notes and schedules thereon give the information required by the companies Act, 1956, in the manner so required and give a true and fair view in conform with the accounting principles generally accepted in India.

a) In the case of Balance sheet of the state of affairs of the company as at 31st March 2012 and

b) In the case of profit and loss account of the loss of the company for the year ended on that date.

c) In the case of Cash flow statement of the cash flows of the company for the year ended on that date.

As required by the companies (Auditors Report) Order 2003 and amendments thereto and according to the information and explanation given to us during the course of the audit and basis of such check of the books and records as were considered appropriate we report that.

i) a) The company has maintained proper records showing the full particulars, including details and situation of its fixed assets.

b) As per the information and explanation given to us physical verification of fixed assets has been carried out in terms of the phased programme of verification of its fixed assets adopted by the company and no material discrepancies were noticed on such to the size of the company and nature of its business.

c) During the year, there is no substantial disposal of fixed assets the business is continuing as a going concern.

ii) a) The inventory has been physically verified during the year by the management in our opinion, the frequency of verification is reasonable.

b) The Procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c) The company is maintaining proper records of the inventory. The discrepancies noticed on verification between the physical stocks and book records were not

iii) a) We are informed that the company has not granted to the parties, covered in the registered maintained under section 301 of the companies Act 1956, hence clause (b) (c) & (d) is not applicable.

b) The company had not taken loan from parties covered in the register maintained under section 301 of the companies Act 1956 hence clause (f) & (g) is not applicable.

iv) In our opinion and accordingly to the information and explanations given to us there are adequate internal control procedures commensurate with size of the company and nature of its business with regards to purchase on inventory fixed assets and with regards to the sale of goods, During the course of our audit. We have not observed any continuing failure to correct major weakness in internal controls.

v) a) According to the information and explanation given to us we are of the opinion that the transactions that need to be entered in to the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us the transactions made in purchase of contracts or arrangements entered in the register maintained under section 301 of the companies Act,1956 and exceeding the value of Rupee five lacs in respect of any party during the year haven been made at a price which are reasonable having regards to prevailing market prices at the relevant time.

vi) According the information and explanation given to us the company has not accepted any deposits from the public. No order has been passed by the company Board.

vii) The Directors themselves conduct the affairs of the company the company does not have a formal system of internal audit but there are adequate checks and controls at all levels.

viii) The company is not maintaining cost records prescribed under section 209 (1) (d) of the companies Act, 1956 for the products of the company.

ix) a) The company generally regular in depositing with appropriate authorities undisputing statutory dues including Sales tax, Excise duty Cess and other material statutory dues applicable to it.

b) According to the information and explanation given to us undisputed amounts payable in respect of wealth tax, customs duty, excise duty and cess were in arrears as at 31st March 2012 for a period of maro than six months from the date they become payable.

c) According to the information and explanation given to us there are dues of sales tax, customs duty, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

x) There are no accumulated losses of the company as on 31st March 2012. The company has not incurred any cash losses during the financial year covered by our audit and the immediately preceding financial year.

xi) In our opinion and according to the information and explanation given to us, the company has not defaulted in repayment of dues to a financial institutions. bank or debenture holders.

xii) As per the information and explanation given to us the company has not granted any loans and advances on the basis of security by way of pledge of shares debentures and other securities

xii)In our opinion, the company is not a chit fund or a nidhi mutual benefit funds/society. therefore the provision of clause4 (xii) of the companies (auditors reports) order 2003 are not applicable to the company.

xiv) in respect of dealing in shares, securities and other investments, in our opinion and according to the information and explanation given to us proper records have been maintained of the transaction and contracts and timely entries have been made there in. The shares, security and other investment have been held by the company.

xv) According to the information and explanation given to us the company has not any guan title for loans taken by others from bank or financial institutions

xvi) the company has not raised any term loan during the year.

xvii)According to the information and explanation, given to us and on an overall examination of the balance sheet of the company, we reports that no funds raised on basis have been used for long-term investments. No long terms funds have been used to financial short-term except permanent working capital.

xviii) We are informed that the company has not made any preferential allotment of shares to companies, firms or other parties listed in the register maintained under Section of the Companies Act, 1956.

xix) The Company has not issued debentures and hence requirements of reporting creation of securities in respect of debentures issued does not arise.

xx) The Company has not raised any money by public issue during the year.

xii) As per the information and explanation given to us, insurance of material fraud on by the company has been noticed or reported during the year.

For Maheswari & co.

Chartered Accountants

TRN : 105834W

(ABHISHEK JAIN)

Patner

M. No. 402845

Place : Mumbai

Date :