1. We have audited the attached Balance Sheet of the DOTCOM GLOBAL
LIMITED as on 31st March 2013 and the related Statement Of Profit and
Loss of the for the year ended on that date 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 misstatements. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in 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.
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, and on the basis of such checks as considered appropriate
and according to the information and explanations given to us during
the course of the audit, we enclose in the Annexure hereto 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 above
paragraph, 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, Cash Flow Statement and the Statement of Profit
and Loss dealt with by the report are in agreement with the books of
account;
d) In our opinion, the Balance Sheet, Cash Flow Statement and the
Statement of Profit and Loss comply with mandatory Accounting Standards
referred to in Section 211 (3C) of the Companies Act, 1956,
e) On The basis of Written representation received from the directors
of the company, and taken on record by the Board of Director's we
report that the none of the directors is disqualified as at 31st March,
2013 from being appointed as a director in terms of clause (g) of sub
-Section (1) of section 274 of the Companies Act, 1956;
f) In our opinion and to the best of our information and according to
the explanations given to us, they said accounts read with Statement of
Accounting Policies and the Notes to Accounts in Schedule, 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:
a. In the case of the Balance Sheet, of the state of affairs of the
Company as on 31st March 2013;
b. In the case of the Statement Of Profit and Loss, of the Loss for
the period ended on that date,
c. In case of the Cash Flow Statement, of the Company as on 31st March
2013;
On the basis of such checks as considered appropriate and in terms of
the information and explanations given to us, we state as under:
(i) In respect of fixed assets:
a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets;
b) The Company has a regular programme of physical verification of its
fixed assets by which fixed assets are verified in a phased manner. In
accordance with this programme, fixed assets were verified during the
year and no material discrepancies were noticed on such verification.
In our opinion, the frequency of physical verification is reasonable
having regard to the size of the Company and the nature of its assets;
c) During the year, there was no sale of fixed assets.
(ii) In respect of inventories:
The Company primarily is in rendering services. According to
information and explanation given to us, the company did not hold any
inventories at the end of the financial year 2013.
(iii) In respect of loans granted and taken by company:
The Company has not granted any loans, secured or unsecured from
companies, firms or other parties covered in the register maintained
under Section 301 of the Act. Accordingly, paragraphs 4 (iii) (a) to 4
(iii) (d) of the Order are not applicable;
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. Accordingly, paragraphs 4 (iii) (e) to 4
(iii) (g) of the Order are not applicable
(iv) In respect of internal control systems:
In our opinion and according to the information and explanations given
to us, there are adequate internal control procedures commensurate with
size of the Company and the nature of its business with regard to
purchases of fixed assets and with regard to rendering of services. We
have not observed any major weakness in the internal control system
during the course of the audit.
(v) In respect of transactions with related parties as per Register of
Contract u/s 301:
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 Companies Act, 1956 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 transactions made in pursuance of contracts and
arrangements referred to in (v) (a) above and exceeding the value of
Rs. 5 lakh with any party during the year have been made at prices
which are reasonable having regard to the prevailing market prices at
the relevant time.
(vi) In respect of deposits from the public:
The Company has not accepted any deposits from the public. Accordingly,
paragraph 4(vi) of the Order is not applicable.
(vii) In respect of internal audit system:
In our opinion, and according to the information and explanations given
to us, the Company maintains an internal audit system commensurate to
the size of the organization and nature of the business.
(viii) In respect of cost records:
According to the records produced and information given to us, the cost
records and accounts are not prescribed by the Central Government u/s
209(1)(d) of the Companies Act, 1956 and hence 4(viii) is not
applicable
(ix) In respect of statutory dues:
a) According to the information and explanations given to us and on the
basis of our examination of the records of the Company, amounts
deducted / accrued in the books of account in respect of undisputed
statutory dues including Provident Fund, Income tax, Service tax and
other material statutory dues have generally been regularly deposited
during the year by the Company with the appropriate authorities. As
explained to us, the Company did not have any dues on account of Sales
tax, Wealth tax, Employees State Insurance, Investor Education,
Protection Fund, Customs duty and Excise duty. There were no dues on
account of Cess under Section 441A of the Companies Act, 1956 since the
aforesaid section has not yet been made effective by the Central
Government of India. According to the information and explanations
given to us, no undisputed amounts payable in respect of Provident
Fund, Income tax, Service tax and other material statutory dues were in
arrears as at 31 March 2013 for a period of more than six months from
the date they became payable;
b) According to the information and explanations given to us, there are
no material dues of Income tax, Service tax and Cess which have not
been deposited with the appropriate authorities on account of any
dispute.
(x) In respect of cash losses:
The Company has accumulated losses at the end of the financial year and
has incurred cash losses in the financial year covered under Audit.
(xi) In respect of dues to financial institutions, banks and debenture
holders:
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 and Banks.
(xii) In respect of secured loans and advances granted:
The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly, paragraph 4 (xii) of the Order is not applicable.
(xiii) In respect of chit fund, nidhi or mutual benefit company:
In our opinion and according to the information and explanations given
to us, the Company is not a chit fund / nidhi / mutual benefit fund /
society. Accordingly, paragraph 4 (xiii) of the Order is not
applicable.
(xiv) In respect of investment company:
According to the information and explanations given to us, the Company
is not dealing or trading in shares, securities, debentures and other
investments. Accordingly paragraph 4 (xiv) of the Order is not
applicable.
(xv) In respect of guarantees given by company:
According to the information and explanations given to us, the Company
has not given any guarantee for loans taken by others from banks or
financial institutions. Accordingly paragraph 4 (xv) of the Order is
not applicable.
(xvi) In respect of term loans:
The Company has not obtained term loans during the year. In our
opinion, the term Loans taken by the Company was applied for the
purpose for which they were taken.
(xvii) In respect of funds raised on short-term basis:
According to the information and explanations given to us, the Company
has not used short term funds for long term investments.
(xviii) In respect of preferential issue made to parties covered in the
register u/s 301:
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. Accordingly, paragraph 4 (xviii) of the
Order is not applicable.
(xix) In respect of debentures issued:
The Company did not issue any debentures during the year. Accordingly,
paragraph 4 of the Order is not applicable.
(xx) In respect of end use of public issue funds:
The Company has not raised any money by public issues during the year.
Accordingly, paragraph
(xx) of the Order is not applicable.
(xxi) In respect of frauds:
As presented to us by the management and based on our examination in
the normal course of audit, no material frauds on or by the Company
have been noticed or reported during the year.
For L N P & Co,
Chartered Accountants
F.R.N:008918S
Sd/-
A.PRABHAKARA RAO
Partner
M No: 207386
Place: Hyderabad
Date: 15-04-2013.
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