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Hexaware Technologies Ltd.

BSE: 532129 | NSE: HEXAWARE | Series: NA | ISIN: INE093A01033 | SECTOR: Computers - Software

BSE Live

Oct 30, 16:00
470.75 0.00 (0.00%)
Volume
No Data Available
21,204
  • Prev. Close

    470.75

  • Open Price

    470.10

  • Bid Price (Qty.)

    470.50 (500)

  • Offer Price (Qty.)

    470.75 (208)

Hexaware Technologies is not traded on BSE in the last 30 days

NSE Live

Oct 30, 15:59
470.80 0.00 (0.00%)
Volume
No Data Available
268,017
  • Prev. Close

    470.80

  • Open Price

    470.55

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    470.80 (620)

Hexaware Technologies is not traded on NSE in the last 30 days

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

1. We have audited the attached Balance Sheet of Hexaware Technologies Limited (the Company) as at December 31, 2011, the Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date, both annexed thereto. These financial statements are the responsibility of the Company''s 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 (Auditor''s Report) Order, 2003, issued by the Central Government in terms of Section 227 (4A) of the Companies Act, 1956, 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 in paragraph 3 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 purposes 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 examination of those books; c) The Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in agreement with the books of account; d) In our opinion, the Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956; e) In our opinion and to the best of our information and according to the explanations given to us, they said accounts, 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 December 31, 2011; ii) in the case of the Profit and Loss Account, of the profits of the Company for the year ended on that date; and iii) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended as on that date. 5. On the basis of the written representations received from the directors as on December 31, 2011 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on December 31, 2011 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956. Referred to in Paragraph 3 of our report of even date i) In respect of its fixed assets: a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) As per information and explanation given to us, physical verification of fixed assets was carried out by the management during the year and discrepancies noticed during verification have been appropriately accounted for. In our opinion, the frequency of verification is reasonable. c) The fixed assets disposed of during the year, in our opinion, do not constitute a substantial part of the fixed assets of the Company. ii) The activities of the Company and the nature of its business do not involve the use of inventory. Accordingly, clause 4(ii) of the Companies (Auditor''s Report) Order is not applicable. iii) The Company has not granted or taken any loan secured/ unsecured, to/ from companies, firms or parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, clause 4 (iii) of the Companies (Auditor''s Report) Order is not applicable to the Company. iv) In our opinion, and according to the information and explanations given to us, there is an internal control system commensurate with the size of the Company and nature of its business for purchase of fixed assets and sale of services. The activities of the Company do not involve purchase of inventory and sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system. v) In respect of contracts and arrangements entered in the register maintained in pursuance of Section 301 of the Companies Act, // 1956: a) To the best of our knowledge and belief and according to the information and explanations given to us, particulars of contracts or arrangements that needed to be entered into the register maintained under the said section have been so entered. b) According to information and explanations given to us, there are no transactions in excess of Rs. 5 lacs made in pursuance of such contracts or arrangements during the year. vi) The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of Sec 58A, 58AA or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 1975 with regard to the deposits accepted from the public are not applicable to the Company. vii) A firm of Chartered Accountants appointed by the management carried out internal audit during the year. In our opinion, the internal audit system of the Company is commensurate with its size and nature of business. viii) According to the information and explanations given to us, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Act. Therefore the provisions of clause 4 (viii) of the Companies (Auditor''s Report) Order are not applicable to the Company. ix) a) The Company has generally been regular in depositing with the appropriate authorities, undisputed statutory dues including Provident fund, Employees'' State Insurance, Income tax, Sales tax, Wealth tax, Service tax, Customs duty, Investor Education and Protection fund, cess and any other material statutory dues applicable to it. According to the information and explanation given to us, no undisputed amounts payable in respect of statutory dues were in arrears as at December 31, 2011 for a period of more than six months from the date they became payable. b) According to information and explanations given to us there are no dues of Sales tax, Income tax, Customs duty, Wealth tax, Service tax and cess, which have not been deposited with the appropriate authorities on account of any dispute, except as follows: Name of statute Nature of the dues Amount Period to which the Forum where dispute is (in Million) amount relates pending Income Tax Act, 1961 Income tax demand 7.40 Assessment Year 2004-05 Commissioner of Income Tax (Appeals_ Income Tax Act, 1961 Income tax demand 37.81 Assessment Year 2008-09 Commissioner of Income Tax (Appeals)_ Finance Act, 1994 Service Tax 0.37 April 1, 2 010 to Commissioner of Central September 30, 2010 Excise (Appeals) x) The Company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in such financial year and in the immediately preceding financial year. xi) In our opinion and according to the information and explanations given to us, the Company has not defaulted in payment of dues in respect of amounts borrowed from bank. The Company has not borrowed any amounts from financial institutions or by issue of debentures. xii) According to the information and explanations given to us, the Company has not given any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and hence the question of maintenance of adequate records for this purpose does not arise. xiii) 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 fund/ society. Therefore, the provisions of clause 4 (xiii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company. xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. Therefore, the provisions of clause 4 (xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company. xv) In our opinion, the terms and conditions on which the Company has given guarantees for loans taken by a subsidiary company from a bank are not prejudicial to the interest of the Company. xvi) The Company has not taken any term loan during the year and hence the question of applying term loans for the purpose for which they were obtained does not arise. xvii) According to information and explanations given to us, and on an overall examination of the balance sheet of the Company, funds raised on short term basis have, prima facie, not been used for long term investment. xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956. xix) The Company has not issued any debentures during the year, hence the question of creation of security or charge in respect of debentures issued does not arise. xx) The Company has not raised any money by way of public issues during the year. xxi) To the best of our knowledge and belief and according to the information and explanation given to us, no fraud on or by the Company was noticed or reported during the year. For Deloitte Haskins & Sells Chartered Accountants [Firm Registration No.: 117366W] R. D. Kamat partner Mumbai, February 2, 2012 Membership No. 36822