S.B.DANDEKER & CO.

Chartered Accountants
________________________________________________________________
P-36 India Exchange Place, Kolkata 700001
Tel # 033-22254832 Tele-fax # 91-33-22258149 Email- kabkol@yahoo.com

INDEPENDENT AUDITOR’S REPORT

To the Members of
GAUTAM ENGINEERS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of Gautam Engineers Limited

(“the Company”), which comprise the Balance Sheet as at March 31,2013, and the
Statement of Profit and Loss for the year then ended, and a summary of significant
accounting policies and other explanatory information.

Management’s 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 and financial performance of the Company in
accordance with the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 (“the Act”). 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.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our

audit. We 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
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 control relevant to the Company’s preparation and fair
presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of the accounting estimates made by
management, 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.

Opinion
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In our opinion and to the best of our information and according to the explanations
given to us, and subject to our remarks in the succeeding paragraphs, the 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:
(a) in the case of the Balance Sheet, of the state of affairs of the Company as at March
31, 2013, and
(b) in the case of the Statement of Profit and Loss, of the profit for the year ended on
that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2003 (“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 and Statement of Profit and Loss dealt with by this Report are in
agreement with the books of account.
d. In our opinion the Balance Sheet and Statement of Profit & Loss comply with the
Accounting Standards referred to in clause C of subsection 3 of section 211 of the
Companies Act 1956, except for Accounting Standard 15 on ‘Accounting for retirement
benefits in the Financial Statements of the employer’’ since no provision for the same is made in
the accounts. As no actuarial valuation of the liability is made, the financial effect due to
deviation from the AS 15 is not ascertainable.
e. on the basis of written representations received from the directors as on March 31,
2013, and taken on record by the Board of Directors, none of the directors is disqualified
as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub-
section (1) of section 274 of the Companies Act, 1956.

______________________________________________________________________________________
For and on behalf of
S.B.DANDEKER & CO.
Chartered Accountants
Firm Regn No.301009E

Kedarashish Bapat
Partner
M.No.- 057903

Place: Kolkata,
Date: 8th August, 2013

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 ANNEXURE

Statement on matters specified in paragraphs 4 & 5 of the Companies (Auditor’s

Report) Order 2003, issued by the Central Government in terms of section 227(4A)
of the Companies Act 1956 on the accounts of GAUTAM ENGINEERS LTD. for the
year ended 31st March 2013.

1. The Company is maintaining proper records to show full particulars, including

quantitative details and situation of fixed assets. The fixed assets have been
physically verified by the management at reasonable Intervals during the year, and
no material discrepancies were noticed on such verification. No substantial part of
the fixed assets of the Company have been disposed off during the year.
2. There is a system of physical verification of inventory, by the management at
reasonable intervals during the year
The procedure for physical verification of inventory by the management is
reasonable and adequate in relation to the size of the Company and nature of its
business.
The Company is maintaining proper records of inventory and, as explained to us, no
material discrepancies were noticed on physical verification.
3. In accordance with the information and explanation given to us the Company has
neither granted nor accepted any loans, secured or unsecured, to or from companies,
firms or other parties covered in the register maintained under section 301 of the
Companies Act 1956.
4. The Company has an internal control procedure commensurate with the size of the
Company and nature of the business, for the purchase of fixed assets. There are no
purchase or sale of goods during the year. In our opinion reasonable steps have been
taken during the year to correct the major weaknesses, if any, in internal control as
soon as they are noticed or reported.
5. In accordance with the information and explanation given to us, no transactions,
exceeding Rs.5 lakhs in value, which require to be entered into a register in
pursuance of section 301 of the Companies Act 1956, have been entered into by the
Company during the year.
6. In accordance with information and explanations given to us, the provisions of
section 58A and 58AA of the Companies Act 1956, and rules framed there under,
and directions issued by the Reserve Bank of India are inapplicable to the Company
since it has not accepted any deposits from the public.
7. The Company has an internal audit system commensurate with its size and nature of
business
8. As explained to us the Central Government has not prescribed any rules for
maintenance of cost records for the Company under clause (d) of subsection (1) of
section 209 of the Companies Act 1956.
9. In accordance with our examination of records produced before us for verification,
the Company is regular in depositing of all undisputed statutory dues including
Provident Fund, Investor Education and Protection Fund, Employees' State
Insurance, Income-tax, Sales-tax, Custom Duty, Excise Duty, cess and any other
statutory dues, so far as applicable to the Company, with the appropriate authorities.
The Company has no disputed dues pending in respect of any tax, duty or cess.

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10. The Company has no accumulated losses as at 31st March 2013. It has not incurred
any cash losses in the financial year as well as in the immediately preceding financial
year.
11. In accordance with the information and explanations given to us the Company has
not defaulted in repayment of any dues of any financial institution or Bank or
debenture holder.
12. The Company has not granted any loan and/or advance on the basis of security by
way of pledge of shares, debentures and other securities and hence the matter
regarding deficiencies in documents in respect of such loans and advances is
inapplicable.
13. The Company is not a Nidhi, Mutual Benefit Fund or Society and hence we have no
comments to make regarding matters concerning such organisations.
14. The Company is not dealing in shares, securities, debentures or other investments
and hence we have no comment to make regarding matters relating to maintenance
of records of transactions in such shares etc.
15. In accordance with the information and explanation given to us the Company has
not given any guarantee for loans taken by others from banks or financial
institutions
16. In accordance with the information given to us, the term loans taken by the
Company have been applied for the purpose for which they were taken.
17. In accordance with the information and explanation given to us the Company has
not made any short term borrowings.
18. In accordance with the information and explanation given to us the Company has
not made any preferential allotment of equity shares to parties covered in the
register maintained under section 301 of the Companies Act 1956, during the year.
19. No debentures have been issued by the Company and hence we offer no comments
regarding whether securities have been created in respect of such debenture issue.
20. No public issue has been made by the Company and hence we have no comments
regarding the matter of end use of money raised through such public issue.
21. In accordance with the information and explanation given to us, no fraud by or on
the Company has been noticed or reported during the year.

______________________________________________________________________________________
For and on behalf of
S.B.DANDEKER & CO.
Chartered Accountants
Firm Regn No.301009E

Kedarashish Bapat
Partner
M.No.- 057903

Place: Kolkata,
Date: 8th August, 2013