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Gradiente Infotainment Ltd.

BSE: 590126 | NSE: | Series: NA | ISIN: INE361K01017 | SECTOR: IT Services & Consulting

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Gradiente Infotainment is not traded on BSE in the last 30 days

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Dec 27, 11:22
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Gradiente Infotainment is not listed on NSE

Annual Report

For Year :
2015 2012 2011 2010 2009 2007 2004

Auditor's Report

We have audited the attached Balance Sheet of GRADIENTE INFOTAINMENT LIMITED (The company) as at 31 March 2009 and also the Profit and Loss Account of the Company for the year ended on that date annexed thereto, into which are incorporated the accounts of six Projects / Units audited by Branch Auditors and in respect of three Units / Projects and Head Office audited by us and the cash flow statement for the year ended on that date. These financial statements are the responsibility of the Companys management. Our responsibility the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit In accordance with the 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 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 (Auditors 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 a statement on the matters specified in paragraphs 4&5 of the said Order, to the extent applicable. 1. Further to our comments in the Annexure referred to above, 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 audits have been received from the branches not visited by us. The Branch Auditors Reports have been forwarded to us and have been forwarded to us and have been appropriately dealt with; (c) The Balance Sheet, Profit and Loss Account and cash Flow Statement dealt with by this report are in agreement with the books of account and with the audited returns form the Projects/ units; (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 referred to in sub-section (3C) of Section 211 of the companies Act, 1956; (e) The Company has informed that Department Of Company affairs vide the notification No. GSR 829(E) dt 21* October 2003 notified that Section 274(1) (g) of the companies. Hence Clause regarding disqualification od directors is not applicable. (f) The company has provided for cess under section 441 A of the Companies Act 1956 but the same has not been deposited, pending notification specifying the manner of payment. (g) In our opinion and to the best of our information and according to the explanations given to us, the sajd accounts read with the Significant Accounting policies and Notes forming part of accounts appearing in Schedule No: 24 give the information required by the Companies Act, 1956 in the manner so required and 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 31.03.2009; (II) In the case of the Profit and Loss Aocount, 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. ANNEXURE TO AUDITORS REPORT Re : GRADIENTE INFOTAINMENT LIMITED (h) In respect of Fixed Assets: (a) The company is generally maintaining proper records showing full particulars including quantitative details and situation of fixed assets. (b) All the assets have not been physically verified by the management during the year but there is a regular program of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification. (c) During the year few fixed assets have been disposed off by the company. On the basis of information and explanations given to us, we are of the opinion, that disposal of the part of fixed assets has not affected the going concern status of the company. (ii) In respect of Inventories: (a) The inventory has been physically verified by the management during the year except the inventory with Third parties. In opinion, the frequency of verification is reasonable. (b) In our opinion and according to the information and explanation given to us, 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) According to the information and explanation given to us, the company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material. (iii) According to the information and explanations given to us, the company has neither granted nor taken any loans secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 301 of the companies Act,1956 (The Act), hence clauses ill ( a,b,c,d,e,f and g ) are not applicable. (iv) In our opinion, and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company i . and the nature of its business with regard to purchase of inventory, fixed assets and with regard to purchase of inventory, fixed assets and with regard to sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in Internal controls. (a) In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of The Act have been entered in the register required to be maintained under that section. (b) In our opinion and according to the information and explanations given to us, the company has not entered into any transactions in pursuance of contracts or arrangements entered into the register in pursuance of Section 301 of the Act and exceeding the value of Rupees Five Lakhs in respect of any party during the year. (v) In our opinion and according to the information and explanation given to us, the company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA or any other relevant provision of The Act and the rules framed there under. (vi) The company has NO internal audit system commensurate with, in our opinion, needs to be further strengthened. Management has designed adequate Internal Controls yet we recommend any Independent Auditor to conduct Internal audit for Administrative , Operational and functional areas. (vii) The maintenance of cost records records under Section 209(1) (d) of The Act has not been prescribed by the central government for the products of the Company. (viii) In respect of Statutory Dues : (a) According to the information and explanations given to us and the records of 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, customs duty, Excise duty, cess and other material statutory dues applicable to it. (b) According to information and explanation given to us, no undisputed amounts payable in respect of income tax, Sales Tax, Wealth Tax, Service Tax, custom duty, Excise duty and Cess were in arrears, as at 31.03.2008 for a period of more than six months from the date they became payable. ix) In our opinion, the company has no accumulated losses as at 31.03.2008 and it has not incurred any cash losses in the financial year ended on that date or in the immediately preceding financial year. x) In our opinion and according to the information and explanation given to us, the company has not taken any loans from financial Institution, Bank and has not issued any debentures. Therefore, the provisions of clause 4(xi) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. xi) In our opinion and according to the information and explanation 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. Accordingly the provisions of clause 4(xii) of the companies (Auditors Report) Order, 2003 are not applicable to the company. xii) 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 Companies (Auditors Report) Order, 2003 are not applicable to the company. Xili) 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 Companies (Auditors Report) Order, 2003 are not applicable to the company. Xiv) According to the information and explanations given to us, the company has not given any guarantees for loans taken by others from banks or financial institutions. Xv) According to the information and explanations given to us, the company has not obtained any term loans. Therefore, the provisions of clause 4 (xvi) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. xvi) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the no funds raised on a short-term basis have been used for long- term investments. xvii) According to the information and explanation given to us, the company has not made preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of The Act. Accordingly, the provisions of clause 4(xviii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. xviii) According to the Information and explanation given to us, the company has not issued any debentures. Therefore, the provisions of clause 4(xix) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. xix) According to the information and explanation given to us, the company has not raised any money by public issues during the year. Accordingly, the provisions of clause 4(xx) of the Companies (Auditors Report) Order, 2003 are not applicable to the company. xx) According to the information and explanation given to us, no fraud on or by the company has been noticed or reported during the course of our audit. For Komandoor & Co Chartered Accountants Sd/- K Mohanacharya Date : 27.08.2009 Partner Place : Hyderabad M.No. 29082