We have audited the accompanying standalone financial statements of
United Interactive Limited (Formerly Neemtek Organic Products 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 stated
in section 134(5) of the Companies Act, 2013 (''the Act'') with respect
to the preparation and presentation of these standalone 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 maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making
judgements and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls,
that were operating 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 standalone
financial statements based on our audit.
We have taken into account the provisions 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
thereunder.
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 misstatements.
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 a true and fair view
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial
controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the
appropriateness of accounting policies 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 standalone
financial statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid standalone financial statements
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, of the affairs of the company as at March
31, 2015, and profits and cash flows for the year ended on that date.
Report on other Legal Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2015 (the
Order) issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 3 and 4 of the Order
to the extent applicable.
2. 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 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, 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 Balance Sheet, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards specified
under section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014;
e) On the basis of the written representations received from the
directors as on March 31, 2015, and taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 2015,
from being appointed as a director in terms of section 164(2) of the
Act.
f) In our opinion and to the best of our information and according to
the explanations given to us, we report as under with respect to the
other matters to be included in the Auditor''s Report in accordance with
Rule 11 of the Companies (Audit and Auditor) Rules, 2014:
(i) The Company does not have any pending litigations which would
impact its financial position.
(ii) The Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses.
(iii) There were no amounts which were required to be transferred to
the Investor Education and Protection Fund by the Company.
ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT
The Annexure referred to in our Independent Auditor''s Report to the
members of the Company on the financial statements for the year ended 31
March 2015:
(i) According to information and explanation given to us, the company
does not have any fixed Assets.
(ii) According to information and explanation given to us, the company
does not hold any inventories.
(iii) According to information and explanation given to us, the company
has not granted any loan, secured or unsecured, to Companies, Firms and
other parties covered in the register maintained under Section 189 of
the Companies Act, 2013.
(iv) In our opinion and according to information and explanation given
to us, the Company has an adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to investment activities. The company does not have any transaction
relating to fixed assets, inventories, and sale of goods & services.
During the course of audit, we have not observed any continuing failure
to correct major weakness in internal control system.
(v) According to information and explanation given to us, the Company
has not accepted any deposit from the public.
(vi) According to information and explanation given to us, maintenance
of cost records has not been prescribed by the Central Government under
section 148(1) of the Companies Act, 2013.
(vii) (a) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing undisputed statutory dues with appropriate authorities
including Provident Fund and any other statutory dues during the year.
According to the information and explanation given to us, no undisputed
amounts payable in respect of the aforesaid dues were outstanding as at
31st March, 2015 for a period of more than six months from the date they
become payable.
(b) According to the information and explanation given to us, there has
been no dispute in respect of depositing the aforesaid dues.
(c) According to information and explanations given to us and the
records examined by us, there are no amounts that are due to be
transferred to the Investor Education and Protection Fund in accordance
with the relevant provisions of the Companies Act, 1956 (1 of 1956) and
the rules made thereunder.
(viii) In our opinion and according to information and explanation
given to us, the Company has accumulated losses exceeding fifty percent
of its networth at the end of the year. The Company has not incurred
cash losses during the financial year and the immediate preceding
financial year.
(ix) According to information and explanation given to us, the company
has not taken any loan from Financial Institutions or banks or
debenture holders requiring repayment.
(x) According to information and explanation given to us, the Company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xi) According to information and explanation given to us, the company
has not availed any term loan.
(xii) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D.N. Kanabar & Co.
Chartered Accountants
(FRN 104698W)
Deepak Kanabar
Proprietor
Membership No.: 041157
Mumbai, 30th May, 2015
