Annual report by SSD Corporate Management AGM.

1. ANNUAL REPORT
2014-15

2. 
SSD in Brief 03

Our Services 06

Our Expertise 30

Share Holder’s 34

Salary Slabs 35

Financial Highlights 36

Auditor’s report 50

Annexure to Audit Report 53

3. To be relevant in a world that wants
“business outcomes as a services” we need
to focus on predictability in delivery and
innovative solutions
SSDCorporateServicesisasistercompanyof

4. SSD IN BRIEF
SCS is a One of the Professional leading BPO/KPO and
IT Company providing end to end recruitment solutions
to leading companies. SCS has been committed to
providing both clients and candidates with an unrivalled
level of service.
At SCS, we consistently hit the mark in our recruiting efforts
because we dedicate the resources to understand and
appreciate candidate and client requirements as well as those
needed to recruit and source qualified candidates. We also
validate every candidate and every requirement through a
rigorous documentation process that ensures that we only
work with quality requirements and quality candidates
ensuring that all parties involved in the process are working
towards the same conclusion. All of our staff is committed to
providing a comprehensive, effective recruitment agencies
services and are able to cope with every recruitment need &
we help creating employment opportunities.

5. They are carefully trained to efficiently handle all
aspects of manpower mobilization, screening, and
documentation. We try our very best to provide
candidates with the most suitable position in their
respective fields. Whether we are conducting national or
international searches, we always maintain the same
regard for confidentiality and quality of service, and our
goal to exceed your expectations. The first time, every
time.
Team SCS mission is to empower individuals and
organizations in achieving business and career goals
through high quality consulting services that focus on
finding, retaining and developing professional and
executive talent. To place highly qualified professionals to
corporations and organizations that would fit their
knowledge and skills, helping its market create their
future and providing the local and international business
communities with competent effective staffing solutions.
To become the preferred leading source of high calibre
sourcing and human resource solutions to our industry.
SSDCorporateServicesisasistercompanyof

6. OUR SERVICES

BPO & KPO Services



IT Services



HR Consulting



RPO Services



IPO services



Third Party Payroll & Verification Services



Corporate Designing & Event Management
Services


Aviation


7. Bpo & Kpo Services
SSDCorporateServicesisasistercompanyof

8. The tremendous growth of the ITEs industry in
India is a reflection of globalization, shrinking
commercial boundaries and technological advances
in telecommunications. While the industry is all
about efficiency and economy of scale, over half of
the business is knowledge based and is driven by
standardization of processes and systems. It has
grown very rapidly from a low-cost transaction
processing operations model to a high-end
knowledge-based delivery model. Today, some of
the highly complex data is analyzed and processed,
assessments and decisions are made remotely to
improve operational costs and efficiencies.
SSDCorporateServicesisasistercompanyof

9. The talent in this industry is continuously learning
and growing. The opportunities are immense and
Retention of talent is amongst the major concerns
of employers.
SCS has constantly mapped the developments in this
dynamic sector and kept abreast with challenges of
talent management. We have team has not only
successfully completed numerous mandates for
Retained Search assignments at the CEO / CXO
levels in multiple technology domains, but are
constantly assisting companies in selecting and
recruiting professional Managerial and Executive
talent amongst various specialist operational areas.
SSDCorporateServicesisasistercompanyof

10. ITServices

11. In today's demanding business environment which
prioritizes flexibility, speed, and efficiency, a robust
IT strategy is critical. We help you achieve these
qualities in your IT strategy by providing you system
integration, testing, application development and
management services and solutions.
Client challenges

Align IT with strategic business initiatives





Built-in flexibility to adapt to a constantly changing
global market





The ability to strategize, develop and execute new
initiatives with optimal speed to remain competitive


12. What SCS provides
SCS delivers excellence and certainty across all of
your enterprise’s IT needs. Learn more about the
following areas:

Custom Application Development



Application Management



Application Modernization



System Integration



Performance Engineering

Business value

IT enabled achievement of strategic objectives



Speedier time to market



Improvements in cost and energy efficiency



Increased productivity


13. HRConsulting

14. SSD Corporate major work is with corporate. This
encompasses all areas of HR, including diagnostics to
designing systems; executive search; training and
management development; and executive coaching and
counselling. However, SSD Corporate also endeavours to
add value beyond corporate. SSD Corporate range of
contribution extends to NGOs, public systems, communities,
families and individuals. Wherever it can enhance human
performance, growth and fulfilment. Most of our problems
have no past parallels. Therefore, experience, however rich it
may be, offers no linear answer. SSD Corporate brings
together Upanishad axiom- Learning is a collaborative,
multi-disciplinary endeavour. Such confluences bring out
new discoveries, develop new perspectives, and create
breakthroughs for creative solutions. Resulting knowledge
enables both to discover new worlds on their own, despite
choosing to learn from each other. Focus is on
empowerment, not dependence.
SSDCorporateServicesisasistercompanyof

15. Recruitment Process
Outsourcing
(RPO)

16. The scarcity of talent is one of the most critical risks
in business today, and when it comes to talent
acquisition, efficient processes are just not enough.
That’s why companies around the world are turning
to a partner with both the proven capability and the
vision to move business forward in times of change
and opportunity. SCS is a leader in RPO, with a
record of success helping companies address their
most complex and challenging talent needs. As a
talent advisor with deep expertise, world-class
resources and a focus on innovation, we deliver
value through all facets of recruiting, from
establishing the vision to executing the strategy and
achieving measurable results.
SSDCorporateServicesisasistercompanyof

17. RPO advantage

Scalability:


An RPO model enables you to increase or decrease recruitment
operations quickly and effectively to fit changing business needs



Talent quality:


Best-in-class resources and operations ensure that you
secure the right talent to support your goals



Cost control:


A focused recruiting process provides visibility and control
over resources and spends



Data and intelligence:


We can apply leading technology solutions to capture data and

deliver intelligence for more informed, actionable
workforce management strategies
SSDCorporateServicesisasistercompanyof

18. capability

Quality:
A recognized leader in service excellence
We provide scalable, global delivery and adaptive sourcing and recruiting

Agile operations:
An award-winning reporting and analytics platform provides
intelligence to drive strategy and performance

Reporting and analytics:

Sourcing excellence:
continuous training ensures maximum effectiveness
Bertelsmaan
SSDCorporate Led by industry thought leaders, our dedicated sourcing development and
innovation function keeps you ahead of the changing talent landscape
The SCS difference

Tailored solutions:
Flexible deployment and operations to fit your talent and business needs

Top recruiting talent:
Our recruiters average more than ten years of experience. Structured

19. Flexible deployment options

End-to-end RPO:


Management of the entire recruiting process



Project RPO:


Management of the entire recruiting process,
with short-term goals



Selective RPO:


Management of distinct recruiting processes
within your organization



Recruiter-on-demand:


Provision of trained recruiters, equipped with
our technology to supplement your team

SSDCorporateServicesisasistercompanyof

20. Investment Process
Outsourcing (IPO)
SSDCorporateServicesisasistercompanyof

21. SCS provides investment banking services which
outsourced globally. Our unique approach puts your
investment process management at the centre of driving
front-end results such as revenue generation and
profitability. This concentration on process provides the
right combination of people, analytics and technology to
generate true business outcomes. We offer end-to-end
support, including enterprise asset management and
retirement planning solutions. Qualified with a rich mix
of domain expertise and experience as well as industry
certifications such as CPA, CFA, PRM and PRMIA, our
talented and trained professionals provide a wide range of
investment services. Our heritage includes a proven track
record of helping organizations improve the investment
process to better compete in a global market. Leveraging a
strong mix of professionals with domain expertise driven
through rich experience and industry qualification, we
provide a wide range of services.

22. 
Investment Advisory: SCS offers a complete range
of services to support activities involved in the
investment process at all stages, from opportunity
identification through deal execution.

Equity and Fixed Income Research: A dedicated
team of analysts helps provide complete equity
and debt research support covering all stages,
from initiating coverage, sector and company
tracking to custom reports covering special events
and themes.

23. Third Party Payroll & Verification
Services
SSDCorporateServicesisasistercompanyof

24. SSD corporate will manage end to end payroll of
your company which includes processing of
employees’ salary, generating all statutory and
compliances reports, and managing transfer of
salary to bank accounts of employees. All you
have to do is to send payroll inputs of new joiners
and resigned, along with details of variable
payments like incentives, bonuses, etc. for
existing employees. You can send these payroll
inputs in an excel sheet via email. After receiving
the payroll inputs, SSD corporate will calculate
salary of your employees and send all payroll,
statutory, and compliance reports along with
bank transfer statements
SSDCorporateServicesisasistercompanyof

25. 
Statutory Compliance and Payroll
Services Salary Processing


Preparation of bank transfer statements for crediting salary to employees’
bank accounts



Full & Final Settlement


Processing of full & final settlement of the resigned employees



Statutory & Compliance Reports Preparation


Profession Tax - Monthly PT Statement ESIC – Monthly ESI report, online
ESI report, Form 7 Provident Fund –Monthly PF statement, online ECR
report. ETDS - Quarterly E-TDS returns, monthly TDS deductions



Employee wise monthly salary registers



Digitally signed Form 16



Journal voucher report



Payroll variation reports and MIS reports



Other reports required by customers

Filing of Statutory Returns

Physical filing of quarterly E-TDS returns



Online filing of returns of PF, PT and ESIC (Optional)



Physical filing of returns of PF, PT and ESIC (Optional)


26. Corporate Designing & Event

27. Corporate event is a professional event thrown by a company
or corporation for its employees to meet, socialize or celebrate.
Aura Event Managers is fully absorbed in planning and
organizing corporate events such as an annual fest, rewards
and recognition, social meets and other business conferences.
We are able to organise flawless events that allow optimal
opportunity to build employee and client relationships. We at
Aura ensure everything from the venue to the crowd
participation are vigilantly supervised, as the company's
reputation is at stake. Everything about the corporate event
should be professional and timely because of the amount of
money being spent. At Aura Event Managers, we’re always
thinking ahead. Although we pride ourselves on providing an
exceptional, tailor-made service, we are constantly striving to
improve our skills and to broaden our horizons so that we may
continue to offer our customers a fuller, more competitive and
cost-effective service. It is our aim to persistently raise the bar
in event management, setting new standards and achieving
only the best for our valued clients.

28. Aviation

29. With its teams of dedicated aviation consultants SSD
Corporate Specialises in providing consultancy services
and support to the civil aviation industry and
associated fields e.g. hotels and tourism. Covering
many projects from planning and financial
management to aircraft inspection and safety audits.
SSD Corporate offers business and technical solutions
across a wide range of sectors in the aviation industry,
typically: Airports, Airlines, Air Traffic Managers,
Manufacturers and Service Vendors and also Hotels and
Tourism.
• Our experienced and professional team of consultants
brings hands-on experience having served as senior
managers in the industry, and also a wealth of
experience from their consulting activities and the
professional training they have undertaken.
• Where we are unable to identify the skill required
addressing and issuing from within, our long standing
associate companies can invariably provide the necessary
support.
SSDCorporateServicesisasistercompanyof

31. Mr.Prince Sejwal, Director
Mr. Sejwal has domestic and international
functional Expertise and experience of around
12 years. As the top leadership member, Mr.
Sejwal responsibilities include strategic
planning and modelling, and implementing
information technology solutions. He has
management skills, including raising capital
and enhancing top to bottom line results. Mr.
Sejwal is the inspiration of the organization
for achieving the excellence in execution.
Apart from looking after the over-all
operations of the project execution, he is also
specialized in financial reporting. Mr. Sejwal
mission is to establish SCS as the most
respected entity on the business aspects of
fulfilling commitments and expectations of
our clients. Mr. Sejwal is an MBA in finance.
He is also an industry expert in E-business
architecture design and implementation. Mr.
Sejwal is a regular trekker and is very fond of
travelling.

32. Mrs. Richa Meghani Kumar, Director
She serves as Director on Training &
Development Portfolio. In this role, Mrs.
KUMAR oversees the acquisition of Entire
training & Development exposure towards
on well developed MNC’s platform unlike
consumer debt portfolios, Mrs. Kumar
joined SCS’S in 2011, and has held various
positions within Training & development
throughout her tenure.
Mrs Kumar, has worked with GENPACT
India LLC OR GE electronics with a long 6
years experience in debt management,
training & development etc. She holds
Graduation Degree from Eiilm University
and Post Graduation from Xavier University
Goa.

33. Mr. Kanhaiya Kumar, MD & CEO.
KK serves as MD & CEO of Business Development &
OPERATIONAL WORKS. In this role, Mr KUMAR oversees
the acquisition of Outsourcing BPO/KPO/ITES & consumer
debt portfolios, manages the company’s partnerships with
major financial institutions and other suppliers of consumer
receivables, and leads one of the industry’s most professional
and diverse business development teams. Under his
direction, SCS has completed over $1 billion in portfolio
purchases since 2010. Mr. KUMAR FOUNDED SCS in 2010,
and has held various positions within TOP MANAGEMENT
throughout his tenure. HE has been instrumental in
strengthening the company’s reputation and reaches
throughout the financial services sector, has worked to
enhance SCS’s purchasing and portfolio support functions,
and has led the creation of media and transaction processes
considered best in class by external partners. He is an alumni
of DELHI UNIVERSITY and Pursuing PHD from Pebble Hills
USA.He is also serving Gov Of India being an IAS officer.
He got double graduated from one of the prestigious Delhi University’s college SRCC
completed his maths honors from there, followed by double Post Graduation (MBA and Post
graduation diploma in Global Business Operations) then further PHD from Pebble Hills
University USA. He started his career in 2003 since then; he is leaving his achievement
marks everywhere.

34. Share Holders Of SSD Corporate Services
15%
2% 22%
Jacob Gil Brodnitz
Jeanette Walsh Shively
11% Kanhaiya Kumar
Prince Sejwal
Richa M Kuamr
20% Sunil P Narwani
19%
Private Equity.
11%

35. Name Designation Last Drawn Hike
%
M KAPOOR CFO & CHO 1,60,00,000 20%
PRIVATE EQ USA & GERMANY. 2,38,00,000 32%
Megha Chief Technical Officer 85,00,000 No
Sabrawal hike
Kanhaiya MD & CEO 2,20,00,000 20%
Kumar
Richa M Director 40,00,000 8.33%
Kumar
Sunil P Director M&A 18,00,000 No
Narwani hike
Premchand NA NA No
Gopichand hike
Narwani
Prince Sejwal Director 44,00,000 No
hike
Preeti Juneja Center head India 72,22,000 11%
Current
Drawn
1,92,00,000
3,14,16,000
85,00,000
2,44,00,00
0
B
e
r
t
e
l
s
m
a
a
n
43,33,200
18,00,000
NA
companyof
44,00,000

36. 80,16,420

38. 250
200
150
100
50
0
-50
INCOME – IN RS. CRORE
Mar 14
Mar '13
Mar '12

39. 60
50
40
30
20
10
0
EXPENDITURE IN RS. CRORE
Mar '14
Mar '13
Mar '12

40. OPERATING PROFIT
25
20
15
10
5
0
PBT(PostExtra-ord…
-5
OperatingProfit
PBDIT
Interest
PBDT
Depreciation
OtherWrittenOff
ProfitBeforeTax
Extra-ordinaryitems
Tax
ReportedNetProfit
TotalValueAddition
Sharesinissue(lakhs)
EarningPerShare(Rs)
EquityDividend(%)
BookValue(Rs)
-10
-15
Mar '14
Mar '13
Mar
'12
SSDCorporateServicesisasistercompanyof

41. Standalone Profit & Loss account
------------------- in Rs. Cr. -------------------
Mar '14 Mar '13 Mar '12
12 mths 12 mths 12 mths
Income
Sales Turnover 97 86 82
Excise Duty 0 0 0
Net Sales 85 74 70
Other Income 3.72 6.06 -3.93
Stock Adjustments 0 0 0
Total Income 185.72 166.06 148.07
Expenditure
Raw Materials 0 0 0
Power & Fuel Cost 0 0 0
Employee Cost 38 26 20
Other Manufacturing Expenses 4.47 3.34 1.76
Selling and Admin Expenses 3 1.5 2.5
Miscellaneous Expenses 6 8 2
Preoperative Exp Capitalised 0 0 0
Total Expenses 51.47 38.84 26.26

42. Operating Profit 8.7 4.1 3.8
PBDIT 4.4 4.2 2.9
Interest 1.7 1.1 1.5
PBDT 2.6 2.1 1.3
Depreciation 3.1 3.4 2.4
Other Written Off 0 0 0
Profit Before Tax -1.4 -6.3 -1.1
Extra-ordinary items 0 0 0.6
PBT (Post Extra-ord Items) -1.4 -6.3 -1.1
Tax 0 -0.3 -1
Reported Net Profit -1.4 -5.9 -1.5
Total Value Addition 18.1 20.5 18.3
Shares in issue (lakhs) 16.4 16.4 16.4
Earning Per Share (Rs) -8.3 -3.7 -6.8
Equity Dividend (%) 0 0 0
Book Value (Rs) -9.11 -0.77 2.94

44. SOURCES OF FUNDS
30
25
20
15
10
5
0
-5
-
Mar '14
Mar '13
Mar
'12

45. APPLICATION OF FUNDS
30
25
20
15
10 Mar '14
5 Mar '13
0
Mar '12
-5
-15

46. Standalone Balance Sheet
------------------- in Rs. Cr. -------------------
Mar '14 Mar '13 Mar '12
Sources Of Funds
Total Share Capital 6.1 3.1 1.1
Equity Share Capital 1.1 1.1 1.1
Share Application Money 0 0 0
Preference Share Capital 5 2 0
Reserves -3.8 -1.3 -1.4
Revaluation Reserves 0 0 0
Networth 3.3 1.7 4.7
Secured Loans 2.2 6.2 5.9
Unsecured Loans 16.7 17.2 12.9
Total Debt 18 24.5 18.9
Total Liabilities 22.3 26.3 19.6

47. Mar '13 Mar '12 Mar '11
Application Of Funds
Gross Block 25.5 24.7 18.8
Less: Accum. Depreciation 11.2 8.9 5.4
Net Block 14.2 15.8 13.3
Capital Work in Progress 4 13 6
Investments 0 0 0
Inventories 0 0 0
Sundry Debtors 3.1 3.1 3.8
Cash and Bank Balance 9.6 8.9 3.4
Total Current Assets 4.7 4.4 4.3
Loans and Advances 5.5 5.5 5.3
Fixed Deposits 3.4 1.3 0.1
Total CA, Loans & Advances 11.7 12.3 9.8
Deffered Credit 0 0 0
Current Liabilities 3.5 2.6 4.4
Provisions 1.4 1.24 1.19
Total CL & Provisions 3.9 2.9 4.6
Net Current Assets 7.8 9.4 4.2
Miscellaneous Expenses 0 0 0
Total Assets 22.3 26.2 19.6
Contingent Liabilities 1.3 4.13 5.67
Book Value (Rs) -9.11 -0.77 2.94

49. CASH FLOW
50
45
40
35
30
25
20
15
10
5
0
Mar '14
Mar '13
Mar
'12
SSDCorporateServicesisasistercompanyof

50. Cash Flow
------------------- in Rs. Cr. -------------------
Mar '14 Mar '13 Mar '12
Net Profit Before Tax 12.4 6.3 1.1
Net Cash From Operating Activities 39.5 20.5 25.8
Net Cash (used in)/from
Investing Activities 14.2 6.8 6.5
Net Cash (used in)/from Financing
Activities 4.3 6.9 1.8
Net (decrease)/increase In Cash and
Cash Equivalents 28 24 13
Opening Cash & Cash Equivalents 28 13 7
Closing Cash & Cash Equivalents 43.2 36.5 26.5

51. AUDITORS REPORT

We have audited the attached Balance Sheet of SSD
Corporate Services India Pvt. Ltd. (the Company) as at March
31,2014, and me related Profit and Loss Account and Cash
Flow Statement 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
mat we plan and perform the audit to obtain reasonable
assurance about whemer 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 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.


52. 
As required by the Companies (Auditor's Report)
Order, 2003, as amended by the Companies (Auditor's
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
Companies Act, 1956'' of India (the ''Act) 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, we give in
the Annexure a statement on me matters specified in
paragraphs 4 and 5 of the Order.



Further to our comments in the Annexure referred to in
paragraph 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;

53. 
(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 and Cash Flow Statement
dealt with by this report are in agreement with the books of account;

(d) In our opinion, the Balance Sheet, Profit and Loss Account and Cash
Flow Statement 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 31,2011 and taken on record by the Board of Directors, none of the
directors is disqualified as on March 31,2011 from being appointed as a
director in terms of clause (g) of sub-section (1) of Section 274 of the Act;

(f) In our opinion and to the best of our information and according to the
explanations given to us, the said financial statements together with the
notes thereon 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 the Balance Sheet, of the state of affairs of the Company as
at March 31,2011;

(ii) in the case of the Profit and Loss Account, of the loss for the year ended
on that date; and

(iii) in the case of the Cash Flow Statement, of the cash flows for the year
ended on that date.

54. ANNEXURE TO AUDITORS' REPORT
Referred to in paragraph 3 of die Auditors'' Report of even date
to die members of SSD Corporate Services India Pvt. Ltd. on
die financial statements for die year ended March 31,2011. 1.

(a) The Company is maintaining proper records showing full
particulars, including quantitative details and situation, of fixed
assets.



(b) The fixed assets are physically verified by die Management
according to a phased programme designed to cover all die
items over a period of 3 years which, in our opinion, is
reasonable having regard to die size of die Company and die
nature of its assets. Pursuant to the programme, a portion of
die fixed assets has been physically verified by die
Management during die year and no discrepancies between die
book records and the physical inventory have been noticed.


(c) In our opinion and according to die information and
explanations given to us, a substantial part of fixed assets has

not been disposed of by the Company during die year.

55. 
2. The main activity of die Company is to carry on die
business of call center and business process outsourcing
services, and accordingly, die matters specified in
paragraphs 4 (ii)(a), 4 (ii)(b) and 4 (ii)(c) of die Order are
not applicable.

3. (a) The Company has not granted any loans, secured or
unsecured, to companies, firms or other parties covered in
the register maintained under Section 301 of die Act.
Accordingly, clauses 4(iii)(a), 4(iii)(b), 4(iii)(c) and
4(iii)(d) of paragraph 4 of die Order are not applicable to
the Company for die current year. (b) The Company has
taken unsecured loans, from two companies covered in the
register maintained under Section 301 of die Act. The
maximum amount involved during the year and die year-
end balance of such loans aggregates to Rs. 1,887,895,000
and Rs. 1,667,895,000 respectively. (c) In our opinion, the
rate of interest and odier terms and conditions of such
loans are not prima facie prejudicial to die interest of die
Company. (d) In respect of me aforesaid loans, die
Company is regular in repaying me principal amounts as
stipulated and is also regular in payment of interest, where
applicable.

56. 
4. In our opinion and according to the information and
explanations given to us, there is an adequate internal
control system commensurate wide die size of die
Company and die nature of its business for die purchase of
fixed assets and for die sale of services. Further, on the
basis of our examination of die books and records of die
Company, and according to die information and
explanations given to us, we have neidier come across nor
have been informed of any continuing failure to correct
major weaknesses in the aforesaid internal control system.

5. (a) In our opinion and according to die information and
explanations given to us, die particulars of contracts or
arrangements referred to in Section 301 of die Act have
been entered in die register required to be maintained
under tiiat section. (b) In our opinion and according to die
s
i
s
t
e
r
information and explanations given to us, die transactions
made in pursuance of such contracts or arrangements and
exceeding die value of rupees Five Lakhs in respect of any
party during me year have been made at prices which are
o
f
reasonable having regard to die prevailing market prices at
die relevant time.

57. 
6. The Company has not accepted any deposits from die public
widiin die meaning of Sections 58A and 58 AAof die Act and
the rules framed mere under.



7. In our opinion, the Company has an internal audit system
commensurate widi its size and nature of its business.



8. The Central Government oflndia has not prescribed die
maintenance of cost records under clause (D) of sub- section



9. (a) According to the information and explanations given to us
and the records of the Company examined by us, in our opinion,
except dues in respect of labour welfare fund, the Company is
generally regular in depositing the undisputed statutory dues
including provident fund , employees'' state insurance, income-
tax, service tax, cess and other material statutory dues as
applicable with the appropriate authorities. The arrears of Rs.
44,33,865/- in respect of labour welfare fund were tendered on
March 31,2011, which are pending clearance. (b) According to the
information and explanations given to us and the records of the
Company examined by us, there are no dues of income-tax,

sales-tax, wealth-tax, service-tax, customs duty, excise duty and
cess which have not been deposited on account of any dispute.

58. 
10. The Company has accumulated losses as at March 31, 2011.
However, the same are not more that 50% of its net worth and,
it has not incurred any cash losses in the financial year ended
on that date or in the immediately preceding financial year.

11. According to the records of the Company examined by us
and the information and explanation given to us, the Company
has not defaulted in repayment of dues to any financial
institution or bank as at the balance sheet date.

12. The Company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and
other securities.

13. The provisions of any special statute applicable to chit fund /
nidhi / mutual benefit fund/ societies are not applicable to the
Company.

14. In our opinion, the Company is not a dealer or trader in
shares, securities, debentures and other investments.

15. In our opinion and 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 during the year.

59. 
16. In our opinion, and according to the information and
explanations given to us, on an overall basis, the term loans have
been applied for the purposes for which they were obtained.



17. On the basis of an overall examination of the balance sheet of
the Company, in our opinion and according to the information and
explanations given to us, there are no funds raised on a short-term
basis which have been used for long-term investment.



18. The Company has made preferential allotment of shares to
parties and companies covered in the register maintained under
Section 301 of the Act during the year. In our opinion and according
to the information and explanations given to us, the price at which
such shares have been issued is not prejudicial to the interest of the
Company.


19. The Company has not issued any debentures.



20. The Company has not raised any money by public issues during the
year.



21. 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 any 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.
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