AUDITOR'S REPORT To, THE MEMBERS OF SUNTEC WER SERVICES PRIVATE LIMITED. 301, VARDUMAN TIMES PLAZA, PLOT NO-13, COMMUNITY CENTER ROAD NO-44, PTAMPURA, NEW DELHI- 110034, Report on Financial Statements We have ausited the uccompanying Batance Sheet of SUNTEC WEB SERVICES PRIVATE LIMITED set 31* March, 2016, the Statement of Profit d Loss forthe year ended on that date annexed thereto and 8 summary of significant accounting policies and other explanatory information, ‘Management's Responsibility ‘The management is responsible for the prepanition of these Financial Statements that gives a true && fale view of the Financial Position and Financial performance of the Company in accurdance with the ‘Accounting Standards as referred in section 133 of the Companies Act, 2013. This responsibility include the design, implementation und maintenance of internat controls relevat’ to the prepamtion and Dresentution ofthe Financtel Statement that gives a true & fur view and free from materia! insstatement, ‘whether due to fraud and errors. Auditor's Responsibility - Our responsibility i to express an opinion on these financial statements hased on our audit. We have ‘Sonducied our todit in accordance with the auditing standards generally accepted in India. Those standards equire.that we plan and psrform the audit to obtain reasonable assurance about whether the financial Statements are free of material misstatement. An sudit includ’s examining, on a test basis, evidence Supporting the amounts and disclosures in the financial statements. An audit also includes assessing the counting principles used and significam estimates made by management. as well as evaluating the ‘evera|| financial statement presentation. Wo béleve tha our audit provides a reasonable basis for ourIvour opinion snd to the bast of our information and according tothe explanation given Yo us the financial statement give the information requised by the Act in the runner-s0 required and give @ tue and fale view in conformity with the secounting principles generally accepted in India : (a) In the case af the Balance Sheet, of the siate of affairs of the Company as at 31", March, 2016; {(b) {In the ease af the Statement of Profit and Lass, of the Profit forthe year endl on that date ‘As cequired by the Companies (Auditors Report) Order, 2015 issued by the Central Government of india in terms of sub-section (11) of section 143 of the Companies Act, 2013, we enclose in the Annexure a statement on the matter specified in Para 4 & $ of the said order, Further, AS per séction 1433} of the act, we report that: (2) 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; (83) nour opinion, proper books of account, as required by the law, have been kept by the company s0 far aS appears fkom our examination of those books; (iii) ‘The Balance Sheet and the Statement of Profit & Loss dealt with by this report are in agreement with ‘the books-of account; . {iv) Inout opinion, the Balance Sheet and Statement of Profit & Loss dealt with by this report comply with ‘the Accounting Standards referred tm in Section 133 of the Companies:Act, 2013 to the extent applicable; * (v) On the basis of written representation received fram the directors. as on 31" March, 2016, and taken: on record by the Board of Difectors, none of the directors is disqualified as om 31" March, 2016 from being appointed as 2 director in terms of sub-section (2) of section 164 of the Companies Act, 2013: For Nikbil Arora & Associates FRM No:=027760% Chartered Accountants CA. Nikhil Arora Memhership No: 526476 Place: New Delhi Date:ANNEXURE TO THE AUDITOR'S REPORT ‘The Annexure referred to in our report to the Member of “SUNTEC WEB SERVICES PRIVATE. LIMITED" far the year ended 31" March 2016, we report that a) The company has mainiained proper records showing: full particulars including quantitative details and situstion of Fixed Assets. b) The Company has a regular program of physical verification of its major fixed assets which, in ‘our opinion, is reasonable 10 the size of company und nature of assets. According to the information and explanations given to us, the fixed assets were physically verified during the period by the management. No physical discrepancies were noted on such verification ss ‘compared fo the Books of Accounts. ©) No substantial part of fixed assets has been disposed off during the yeur so as to affect going ‘eoncem principle. fi, The Company is » service company, primarily rendering information Technology services, Accordingly it does not hold any physical inventories. Thus, paragraph 3(it) not applicable 10 the company, Hii. “The Company has not taken or granted any loan wo any party as entered in the register maintained tumder section 189 ofthe Companies Act 2015. Accordingly paragraph 3/iip not applicable to the company, : '%, Im our opinion and according to information and explanations given to us, there is an adequate internal control procedures commensurate with the sire of the Company and the nature of its business with regan’ to purchase of fixed assets and for the sale of services. During the course of the audit, we have not observed any continuing failure to correct major weaknesses in the internal ‘control system. ¥. The Company has notaccepted any deposit from the public during the year. vi. As informed to us, the Central Government has not prescribed the maintenance of Cost recon tunder section 148(1) of the Act, in respect ofthe activitics carried an hy the Company. vil 4) According information and explanation given to us end on the basis ef the eximination and explanation given to us and on the hisis of our examination of records of the ‘Company, the amounts deducted’tecrued in the books of accounts in nespect of tindispurted statutory dues including provident fund, employee state insurance, work contract 128, excise duty. income tax, custom duty, wealth tax and other material dues as applicable 10 the Company have been regularly deposited during the year by the company with the appropriate authority. bb} Aceatfing: to iiformation and explanation given to tis, no statutory dues are pending, ence hie comment are called fer, €) Thete his not been: an occasion in case of the Company during the year umder repart to transfer any sums to the Investor Education & Protection Fund as there were ni amounts Which required to be transferred to the said fund,vil %, wil ‘The Company has po securbulaied losses at the end of the financial year. The Company has not {incurred cash losses in the eurrent year & in the immediately preceding financial year, The Company have an outstanding balance with HDFC Bank Limited as ear loan from the bank of Rs. 7.26,237.24 as on 31" March, 2016 and according ta the observation and explanation siven to us the company has made regular repayment of interest and Principal amount and the company’ tas not make any defuult in the repayment af the Interest and the principle which have became due an 31.03.2016. In ovr opinion and eceording to the information and explanations given to us the Company has not given any guarantee for loans taken by others from banks or financial institulions during the year. The tenn loans tiken by the company have bee applied for the purpose for which they were raised, To the best of our knowledge nd according 10 the information and explanations given 10 us, no fraud by the company and no material fraud on the company has been noticed or reported during, the year. For Nikhil Arora & Assachites . FRM No: 0277600 Chartered AccountantsNOTES TO FINANCIAL STATEMENTS SUNTEC WER SERVICES PRIVATE LIMITED as on 31st March 2016 Note 1. Significant Accounting Potictes Basis of decourting Accounting policies not specifically referred to otherwise are consistent snd in consonance with gencrally accepted accounting prineiples in India. The applicable necounting standards notified Ws 133 of the Companies Act, 2013 Hixed Assets dt Depreciation ined Assets are Stated at cost less accumulated depreciation. Cost of acquisition is inclusive of ‘freight, duties, fees and other incidental expenses and interest on foans. Depreciation Depreciation has been provided on pro-rata method at the rates preseribed under schedule Il of the Companies Act, 2013. Inventories : ‘There is no inventory Revenue Recognition All the revenues are accounted for on accrual basis, Comingencies after Balance She . There is no event that took place afler Balance Sheet date which materially affeets the position of the Balance Sheet, Borrowing Cost Borrowing cost are directly attributable to the acquisition, construction of an asset are capitalized a5 part of the cost of that asset up to the date of start of commercial production. All other borrowing costs are recounized as an expense in the period in which they’ ate incurred. bpestments As per AS 13, long term investments are valued as cost. The company has invested a sum of INR 25,34,033/- during the year in long term fixed deposits with bank. Interest income for the year from sil fong term investments is INR: 13, 0,594/.. No invesiment has been sold during the year, Taves.on trevme Provision for deferred tax asset is created during the relevant year to the extentof Rs. 18,65,573/- a per Accounting Standard 22, Accounting policies not specifically referred to are consistent with generally accepted accounting principles.Note 2. Pros 2. Notes on Accounts ‘As per the management there is no contingent liability of the Company jon for taxation has been made to the tune of Rs, 30,59,080/- ‘The company has carned Rs, 37,26,40,184.82 as foreign revenue in foreign Currency against which foreign exchange difference created during the relevant year for RS 38,48,765.37. |, Auditors! Remuneration ‘= Particulars Current Year ‘Previous Year Audit Fee 30,000.00 30,000.00 . There was no cmployce of the Company in receipt of remuneration more than Rs.60,00, 000.00 P.A. oF Rs.5,00,000.00 P.M. for any part thereof. 6. In the opinion of the board current assets and Ioains and advances are approximately of the ‘Same Value as stated in the Balance Sheet if realized in the ordinary course of business, 7. Previous year figures regrouped, recast, rearranged wherever considered necessary. ‘The quantitative detai fespeet of purchase, sale and stock of the Companies is nat applicable to the Company. For Nikhil Arora & Associates For & On Behalf af the Board of the Directors of PRN No:= (27760 5s SUNTEC WER SERVICES PRIVATE LIMITED y SUNTEC WEB SERVICES PYT. LTD, ~ Nlawtee Rajesh Bhateja Vandana Bhatela Director Director DIN:-00091881 DIN:41729594 Membership No: 526476 a's Place: New Delhi Date: