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Constronics Infra Ltd.

BSE: 523844 | NSE: | Series: NA | ISIN: INE537B01011 | SECTOR: Hospitals & Medical Services

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Oct 25, 16:00
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3,666
10-Day
2,898
30-Day
1,854
300
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NSE Live

Dec 27, 11:22
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Constronics Infra Limited is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2009 2008 2007 2006

Auditor's Report

We have audited the accompanying financial statements of INVICTA MEDITEK LIMITED (the Company), which comprise the Balance Sheet as at March 31, 2015, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements The Company''s Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 (the Act ) with 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 also includes the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the frauds and other irregularities; selection and application of appropriate accounting policies ;making judgments and estimate that are reasonable and prudent ; and design , implementation and maintenance of internal financial control, that were operation effectively for ensuring the accuracy and completeness of the accounting records, 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 Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provision of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under . We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. 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. 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 financial control relevant to the Company''s preparation of the financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting polices used and the reasonableness of the accounting estimates made by Company''s Directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements. Basis of Qualified Opinion Short term loans and advances includes an amount of Rs. 70,47,151/-(amount sanctioned during the year Rs.Nii) beind outstanding of loans given to one the Director, without obtaining the prior approval of Central Government as per Sec.295 of the erstwhile Companies Act, 1956. Opinion In our opinion and to the best of our information and according to the explanations given to us, except for the effects of the matter described in the Basis of Qualified Opinion Paragraph, the financial statements give the information required by the Act in the manner so required and give 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, 2015; (b) in the case of the Statement of Profit and Loss, of the 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. Emphasis of Matter Attention of the shareholders is drawn to Note No. 1 of Notes to accounts which elaborate the ability of the company to continue as a going concern. Our opinion is not qualified in respect of this matter. Report on Other Legal and Regulatory Requirements As required by section 143(3) of the Act, We report that: a) We have sought and 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 so far as appears from our examination of those books (and proper returns adequate for the purpose of our audit have been received from the branches not visited by us. 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 aforesaid financial statement comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts ) Rules, 2014 e) The going concern matter described in sub-paragraph(b) under the Emphasis of Matter paragraph above, in our Opinion, may have an adverse effect on the functioning of the Company. f) On the basis of written representation received from the directors as on 31 March, 2015, taken on record by the Board of Directors, none of the director is disqualified as on 31 March, 2015 from being appointed as a director in terms of Section 164(2) of the Act. ANNEXURE TO THE INDEPENDENT AUDITOR''S REPORT Re: INVICTA MEDITEK LIMITED, Referred to in paragraph 1 of our report of even date, i) (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets; (b) Fixed assets have been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification. ii) (a) Physical verification of inventory has been conducted at reasonable intervals by the management; (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 inventory and no material discrepancies were noticed on physical verification. iii) (a) The company has not given any loan to any of its directors during the year that has to be entered in the register maintained under section 189 of Companies Act. iv) In our opinion and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the company and the nature of its business, for the purchase of inventory, fixed assets and for 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) The company has not accepted any deposits from public during the year. Hence the provisions of section 73 to 76 or other relevant provisions of the Companies Act, 2013 are not applicable. vi) The Central Government has not prescribed maintenance of cost records under section 148(1) of the Companies Act, 2013. vii) The company has generally been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Income-Tax, Sales- Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable were in arrears, for a period more than six months from the date they become payable. The Employees'' State Insurance Act does not apply to the company. viii) The company has accumulated losses more than 50% of its net worth and has incurred cash loss of Rs.8,51,757/- during the year and Rs.5,98,785/- during the preceding year. ix) In our opinion and according to the information and explanation given to us, the Company has not defaulted in repayment of dues to any financial institution, bank or debenture holders. x) The Company has not given any guarantee for loans taken by others from banks or financial institutions based on the record produced to us. xi) The company has not taken any loans from the banks; hence this clause is not applicable. xii) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For P.B. Vijayaraghavan & Co. Chartered Accountants Firm Regn No. 004721S Place:- Chennai Date:- 30.05.2015 -sd- P.B. Srinivasan Partner M No. 203774