sms techsoft india ltd Auditors report

To the Members of

SMS Techsoft (India) Limited,

[Formerly known as AKL soft& Infosys (India) Limited] Coimbatore

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. SMS Techsoft (India) Limited which comprise the Balance Sheet as at March 31, 2014, 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.

Managements Responsibility for the Financial Statements

Management is responsible for 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 Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. This responsibility includes the design, implementation and maintenance of internal control 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.

Auditors Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We have conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. 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 auditors 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 c^B&uiers internal control relevant to the Companys preparation and fair presentation of the financial statements in order to design audit procedure* that are appropriate in the circumstances. An audit also includes evaluating th< appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation o the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us the financial statements give the information required by tte Act in the manner so refiUiret and give 2 true and fair view m conformity with the accounting principles generally acceptec in India:

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

(b) in the case of the statement Profit and Loss, of the "Profit’’ 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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2003 as amended by the companies ("Auditors Report) (Amendment) order, 2004 (together the "order") issued by the Central Government of India in terms of sub-section (4A)of section 227 of the Act, we give in the Annexure a_ statement on the matters specified in paragraphs 4 and 5 of the Order.

2; As required by section 227(3) of the Act, 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 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 read together with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

e. on the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

For, M/S K R Shah & Associates

PLACE: Ahmedabad

DATE: 29/05/2014