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Aptech Ltd.

BSE: 532475 | NSE: APTECHT |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE266F01018 | SECTOR: Computers - Software - Training

BSE Live

Oct 25, 16:00
303.05 -8.35 (-2.68%)
Volume
AVERAGE VOLUME
5-Day
29,064
10-Day
28,166
30-Day
36,244
29,265
  • Prev. Close

    311.40

  • Open Price

    303.20

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 25, 16:01
304.45 -6.60 (-2.12%)
Volume
AVERAGE VOLUME
5-Day
385,517
10-Day
355,230
30-Day
493,668
211,976
  • Prev. Close

    311.05

  • Open Price

    309.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    304.45 (1660)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1. We have audited the attached Balance Sheet of APTECH LIMITED (herein after referred to as the Company), as at 31st December, 2007 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. 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 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 the 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 (Auditors Report) Order, 2003 (as amended) (herein after referred to as the Order) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956 (herein after referred to as the Act), we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. 4. Further to our comments in the Annexure referred to above, we report that: I. 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; II. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; III. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit IV. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards (AS) referred to in sub-section (3C) of section 211 of the Act, except that the disclosure pertaining to Companys shares in assets, liabilities, revenue of Joint Venture are made for the year under AS-27 Financial Reporting of Interest in Joint Ventures for the reasons stated in Note No. B-25 of Schedule 15; V. On the basis of written representations received from the directors, as on 31st December, 2007, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st December, 2007 from being appointed as a director in terms of section 274(1) (g) of the Act; VI. Refer Note no. B-18 of Schedule 15 regarding the payment of remuneration in excess of sum payable under Schedule XIII of the Act to Managing Director and Executive Director aggregating to Rs 63,14,138, for which approval of Central Government has not been obtained. VII. Subject to VI above in our opinion and to the best of our information and according to the explanations given to us, the said accounts 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 31st December, 2007; (b) in the case of the Profit and Loss Account, of the profit of the Company for the year ended on that date; and (c) in the case of Cash Flow statement of the cash flow of the company for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT Annexure referred to in our Auditors Report to the Members of APTECH LIMITED of even date i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) During the year the Company has carried out physical verification of Fixed Assets. We are informed that no material discrepancies were noticed on such verification. (c) The company has not disposed of a substantial part of its fixed assets during the year. ii) (a) The management has conducted physical verification of inventory at reasonable intervals during the year. (b) The procedures of physical verification of inventory 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 inventory and no material discrepancies were noticed on physical verification. iii) (a) During the year, the Company has not given any loans, secured or unsecured, to the companies, firms or other parties covered in the register maintained under section 301 of the Act. Hence, Clauses (iii) (b), (c), & (d) of the Order, are not applicable (b) The Company has not taken any loans, secured or unsecured, from companies, firms or other parties covered in the register maintained under section 301 of the Act. Hence clauses (iii) (f) & (g) of the Order are not applicable. iv) 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, for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. In respect of internal control system for the sale of services, improvements have been observed compared to earlier years; however, the same needs to be further strengthened to make it fully commensurate with the size of the company and the nature of its business. v) Based on the audit procedures applied by us and according to the information and explanations given to us, there were no transactions exceeding Rs. 5 Lacs with any party covered under section 301 of the Act that need to be entered into the register maintained under the said section. Hence clause (v) (b) of the order is not applicable. vi) In our opinion and according to information and explanation given, the company has not accepted any deposit from the public and hence directives issued by the Reserve Bank of India and the provisions of sections 58A, 58AA or any other relevant provisions of the Act and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from public are not applicable to company. vii) In our opinion, the Company has an internal audit system commensurate with its size and nature of its business. viii) The company is not required to maintain accounts or records pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(1) (d) of the act. ix) a) The Company is generally regular in depositing with appropriate authorities 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, and other material statutory dues applicable to it. There were no arrears as at 31st December, 2007 for a period of more than six months from the date they became payable. b) According to the information and explanations given to us, particulars of outstanding dues of Sales Tax and Income Tax have not been deposited on account of any disputes are given below; Name of Statute Nature of the Dues Period A.Y. 2000 - 2001 Sales Tax Act Sales Tax A.Y. 2001 - 2002 A.Y. 2002 - 2003 Amount (Rs.) Forum where dispute is pending 52,02,773 Tribunal We are informed that there are no outstanding dues of Income- Tax, Wealth Tax, Service Tax, Excise Duty and Cess not deposited on account of any dispute. x) The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current year or in the immediately preceding financial year. xi) Based on our audit procedures and as per the information and explanations given to us, we are of the opinion that the Company has not defaulted in repayment of dues to a financial institution or bank. xii) According to the information and explanations given to us and based on the documents and records produced 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. xiii) In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore the provisions of clause 4(xiii) of the Order, 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 4(xiv) of the Order, are not applicable to the Company. xv) According to the information and explanations given to us, the Company has given guarantee for loans taken by a subsidiary from banks or financial institutions, the terms and conditions whereof, in our opinion, are prima-facie, not prejudicial to the interest of the Company. xvi) According to the information and explanations given to us, the term loans were applied for the purpose for which they were obtained. xvii) According to the information and explanations given to us and on 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. xviii) The Company has made Preferential Allotment of shares to parties and Companies covered in the Register maintained under Section 301 of the Act. The price at which the shares have been issued has been determined as per SEBI (Disclosure & Investor Protection Guidelines), 2000, which in our opinion it is not prejudicial to the interests of the company. xix) The company has not issued any debentures during the year. xx) The company has not raised any money through a public issue during the year. xxi) Based upon the audit procedures performed and information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the course of our audit. For and on behalf of KHIMJI KUNVERJI & CO. Chartered Accountants Shivji K. Vikamsey Partner Membership No. 2242 Place : Mumbai Date : 31st March, 2008