Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

DIRECTOR’S UTECH RETAILERS REPORT LTD
To,
The Members of
UTech Retailers Ltd.
New Delhi
AUDITORS’ REPORT
UFLEX LIMITED
1 We have audited the attached Balance Sheet of M/s UTech Retailers Ltd., as at 31st March, 2009 and also the Statement of
Expenses during the construction period and Cash Flow Statement for the period from 2nd June, 2008 (being the date of
Incorporation) to 31st March, 2009. These fi nancial statements are the responsibility of the company’s Management. Our
responsibility is to express an opinion on these fi nancial statements based on our audit.
2 We have conducted our audit in accordance with auditing standards generally accepted in India. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free from
material mis-statement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
fi nancial statements. An audit also includes assessing the accounting principles used and signifi cant estimates made by the
Management, as well as evaluating the overall fi nancial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
3 As required by the Companies (Auditor’s Report) Order, 2003 and (Amendment) Order, 2004 issued by the Central Government
of India in terms of section 227 (4A) of the Companies Act, 1956, we enclose in the annexure a statement on the matter specifi ed
in paragraph 4 and 5 of the said Order.
4 We report that: -
i. 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.
ii. In our opinion, proper books of account, as required by the law, have been kept by the company, so far as it appears from
our examination of those books.
iii. The Balance Sheet, Statement of Expenses during the construction period and Cash Flow Statement dealt with by this
report is in agreement with the books of account.
iv. In our opinion, the Balance Sheet, Statement of Expenses during the construction period 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 Companies
Act, 1956.
v. On the basis of written representation received from Directors as on 31st March, 2009, we report that none of the Director
is disqualifi ed as on 31st March, 2009 from being appointed as a Director in term of clause (g) of sub-section (1) of section
274 of the Companies Act, 1956.
vi. In our opinion and to the best of our information and according to the explanations given to us, the said Accounts read
together with accounting policies and notes thereon, gives the information required by the Companies Act, 1956, in the
manner so required and give true and fair view in conformity with the accounting principles generally accepted in India:-
a. In the case of Balance Sheet, of the State of Company’s aff airs as at 31st March, 2009,
b. In the case of Statement of Expenses during the construction period, of the expenses for the period ended 31st
March, 2009; and
c. In the case of Cash Flow Statement, of the cash fl ow for the period ended on that date.
For JAIN SINGHAL & ASSOCIATES
Chartered Accountants
Place : New Delhi PRADEEP BERI
Dated : 12 th June, 2009 Partner
Membership No. 82392
TWENTIETH ANNUAL REPORT 2008 - 2009 | 147 |
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