Ami Computers (I) Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2009

We have audited the attached Balance Sheet of the company as at March 31 2009 and the related Profit and Loss Account for the year ended on that date annexed thereto which we have signed under reference to this report. 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.

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 principals 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 as amended by the Companies (Auditors Report) (Amendment) Order 2004 issued by the Central Government of India in terms of sub section (4A) of Section 227 of the Companies Act. 1956 of India and on the basis of such checks of the books and records of the company as we considered appropriate and according to the information and explanations given to us during the course of our audit, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

Further to our comments in paragraphs 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 Profit and Loss Account dealt with by this report are in agreement with the books of account.

d. In our opinion the Balance Sheet Profit and Loss Account, dealt with by this, report comply with the accounting standards referred to in sub section (3c) of section 211 of the Act.

e. On the basis of written representations received from the Directors as on March 31 2009 and taken on record by the Board of Directors none of the directors is disqualified as on March 31 2009 from being appointed as a director in terms of clause (g) of sub section (I) of Section 274 of the Act.

f. In our opinion and to the best of our information and according in the explanations given to us the said financial statements together with the notes as mentioned in Annexure 12 regarding

a) Sundry Debtors include certain customers whose payments are overdue. The Company has not filed recovery suits against them, The customer has however disputed the dues and no provision has been made for the same In the books, The amount involved is to the tune of Rs. [P.YRs. 36388078.00]

b) fixed Assets of the Company have not been verified by the management during the year, The records showing the location of the same has not been updated and in the absences of the some we are not in a position to comment upon the material discrepancies which may be there between the physical and book records,

c) Union bank of India (Previously Sikkim bank Ltd) has filed debt recovery suits against the company in respect of the outstanding with it. Meanwhile the writ petition filed by the company with the Kolkata High Court had been admitted and had not yet been disposed off. Accordingly pending disposal of the same will be provided as and when the disposal is directed by the court as such the loss for the year under review is less by an amount of Rs.5259046.00 being the interest for the year on the above loan.

d) Assets of the company at its Ahmedabad and Mumbai Office have been stated at the book value in the books of accounts although the above offices have been closed back long ago. We express our doubts on such recovery.

thereon appearing in Schedule 12 of the Notes to the Accounts and attached thereto give in the prescribed manner the information required by the Act and give a true and fair view in conformity with the accounting principles generally accepted in India.

I. In the case of Balance Sheet of the state of affairs of the Company as at March 31.2009

II. In the case of Profit and Loss Account of the loss for the year ended on that date

ANNEXURE TO THE AUDITORS REPORT

I. (i) The company is not maintaining proper record showing full particulars including quantitative details and situation of its Fixed Assets.

(ii) Physical verification of fixed assets has not been done by the management during the year. The discrepancies between the actual and physical records can not be ascertained.

(ii) In our opinion and according to the information and explanations given to us a substantial part of fixed assets has been disposed off but not accounted for by the Company during the year.

2. According to the information and explanations given to us, the company has not granted loans to a company covered in the register maintained under Section 301 the Act.

3. According to the information and explanations given to us we are of the opinion that the particulars of the contracts or arrangements that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

4. In our opinion and according to the information and explanations given to us the Company has not made any transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rs 5.00 lacs in respect of any party during the year.

5. The company has not taken loans secured or unsecured from companies firms or other parties covered in the register maintained under Section 301 of the said Act.

6. The company has not accepted any deposits from the public within the meaning of Section s 58 A and 58 AA of the Act and the rules framed there under.

7. In our opinion and according to the information and explanation given to us there are adequate internal control system commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories and fixed assets and with regard to the sale of goods and services. Further on the basis of our examination and according to the information and explanations given to us we have neither come across nor have been informed of any instance of major weakness in the aforesaid internal control system.

8. In our opinion there is no internal audit system within the company

9. The company has not defaulted and is generally regular in paying statutory dues including income tax. service tax etc.

10. The company has accumulated losses to the tune of Rs. 173112559.22 (PY Rs Rs 109285468.80) as at March 31 2005 it has incurred Cash losses during the year amounting to Rs.78531444.00 (PY Rs. 74843129) during the financial year ended on that date.

11. The company has not granted any loans and advances on the basis of security by way of pledge of shares debentures and other securities.

12. The provisions of any special statutes applicable to chit fund nidhi mutual benefit fund societies are not applicable to the company,

13. The company is not a dealer or trader in shares securities debentures and other investments

14. In our opinion and according to the company has not given any guarantees for loans taken by other from banks or financial institutions during the year.

15. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year.

16. The company has not issued any debentures during the year and accordingly the question of security or charge dues not arise.

17. The company has not raised any money by way of public issue during the year.

18. During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us we have neither come across and instance of fraud on or by the company, noticed or reported during the year nor have we been informed of such case by the management,

The other clauses of the Companies (Auditors Report) Order 2003 as amended by the Companies (Auditors Report) (Amendment Order) 2004 are not applicable in the case, of the company for the current year .since in our opinion there is no matter which arises to be reported in the aforesaid order.

Place: Kolkata For R.Pugalia & Company

Dated : 26th June, 2009 Rajeev Pugalia 53972

Proprietor

---

Mar 31, 2007

We have audited the attached Balance Sheet of the company as at March 31 2007 and the related Profit and Loss Account for the year ended on that date annexed thereto which we have signed under reference to this report. 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.

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 principals 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 as amended by the Companies (Auditors Report) (Amendment) Order 2004 issued by the Central Government of India in terms of sub section (4A) of Section 227 of the Companies Act. 1956 of India and on the basis of such checks of the books and records of the company as we considered appropriate and according to the information and explanations given to us during the course of our audit, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

Further to our comments in paragraphs 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 Profit and Loss Account dealt with by this report are in agreement with the books of account.

d. In our opinion the Balance Sheet Profit and Loss Account, dealt with by this, report comply with the accounting standards referred to in sub section (3c) of section 211 of the Act.

e. On the basis of written representations received from the Directors as on March 31 2007 and taken on record by the Board of Directors none of the directors is disqualified as on March 31 2007 from being appointed as a director in terms of clause (g) of sub section (I) of Section 274 of the Act.

f. In our opinion and to the best of our information and according in the explanations given to us the said financial statements together with the notes as mentioned in Annexure 12 regarding

a) Sundry Debtors include certain customers whose payments are overdue. The Company has not filed recovery suits against them, The customer has however disputed the dues and no provision has been made for the same In the books, The amount involved is to the tune of Rs. 2818424.77 [P.YRs. 2750618.88]

b) fixed Assets of the Company have not been verified by the management during the year, The records showing the location of the same has not been updated and in the absences of the some we are not in a position to comment upon the material discrepancies which may be there between the physical and book records,

c) Union bank of India (Previously Sikkim bank Ltd) has filed debt recovery suits against the company in respect of the outstanding with it. Meanwhile the writ petition filed by the company with the Kolkata High Court had been admitted and had not yet been disposed off. Accordingly pending disposal of the same will be provided as and when the disposal is directed by the court as such the loss for the year under review is less by an amount of Rs.5259046.00 being the interest for the year on the above loan.

d) Assets of the company at its Ahmedabad and Mumbai Office have been stated at the book value in the books of accounts although the above offices have been closed back long ago. We express our doubts on such recovery.

thereon appearing in Schedule 12 of the Notes to the Accounts and attached thereto give in the prescribed manner the information required by the Act and give a true and fair view in conformity with the accounting principles generally accepted in India.

I. In the case of Balance Sheet of the state of affairs of the Company as at March 31.2007

II. In the case of Profit and Loss Account of the loss for the year ended on that date

ANNEXURE TO THE AUDITORS REPORT

I. (i) The company is not maintaining proper record showing full particulars including quantitative details and situation of its Fixed Assets.

(ii) Physical verification of fixed assets has not been done by the management during the year. The discrepancies between the actual and physical records can not be ascertained.

(ii) In our opinion and according to the information and explanations given to us a substantial part of fixed assets has been disposed off but not accounted for by the Company during the year.

2. According to the information and explanations given to us, the company has not granted loans to a company covered in the register maintained under Section 301 the Act.

3. According to the information and explanations given to us we are of the opinion that the particulars of the contracts or arrangements that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

4. In our opinion and according to the information and explanations given to us the Company has not made any transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rs 5.00 lacs in respect of any party during the year.

5. The company has not taken loans secured or unsecured from companies firms or other parties covered in the register maintained under Section 301 of the said Act.

6. The company has not accepted any deposits from the public within the meaning of Section s 58 A and 58 AA of the Act and the rules framed there under.

7. In our opinion and according to the information and explanation given to us there are adequate internal control system commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories and fixed assets and with regard to the sale of goods and services. Further on the basis of our examination and according to the information and explanations given to us we have neither come across nor have been informed of any instance of major weakness in the aforesaid internal control system.

8. In our opinion there is no internal audit system within the company

9. The company has not defaulted and is generally regular in paying statutory dues including income tax. service tax etc.

10. The company has accumulated losses to the tune of Rs. 17983561.96 (PY Rs Rs. 173112559.22) as at March 31 2007 it has incurred Cash losses during the year amounting to Rs.6630564.00 (PY Rs. 78531444.00) during the financial year ended on that date.

11. The company has not granted any loans and advances on the basis of security by way of pledge of shares debentures and other securities.

12. The provisions of any special statutes applicable to chit fund nidhi mutual benefit fund societies are not applicable to the company,

13. The company is not a dealer or trader in shares securities debentures and other investments

14. In our opinion and according to the company has not given any guarantees for loans taken by other from banks or financial institutions during the year.

15. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year.

16. The company has not issued any debentures during the year and accordingly the question of security or charge dues not arise.

17. The company has not raised any money by way of public issue during the year.

18. During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us we have neither come across and instance of fraud on or by the company, noticed or reported during the year nor have we been informed of such case by the management.

The other clauses of the Companies (Auditors Report) Order 2003 as amended by the Companies (Auditors Report) (Amendment Order) 2004 are not applicable in the case, of the company for the current year .since in our opinion there is no matter which arises to be reported in the aforesaid order.

Place: Kolkata For R.Pugalia & Company

Dated : June 30, 2007 Rajeev Pugalia 53972

Proprietor