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

DIRECTOR’S UTECH RETAILERS REPORT LTD
UFLEX LIMITED
ANNEXURE TO THE AUDITORS’ REPORT OF UTECH RETAILERS LIMITED
FOR THE PERIOD ENDED 31ST MARCH 2009
I FIXED ASSETS
- There are no fi xed assets with the company. Therefore, the provisions of clause 4 (i) have not been commented upon.
II INVENTORY
- There is no inventory with the company. Therefore, the provisions of clause 4 (ii) have not been commented upon.
III The Company has not taken/granted any loan, secured or unsecured from/to companies, fi rms or other parties covered in the
register maintained under Section 301 of the Companies Act 1956.Therefore the provision of clause 4 (iii) (b) (c) (d) (f) (g) of
company (Auditor’s Report) Order, 2003 is not applicable to the company
IV Since the company does not have any Fixed Assets/Inventory, and is not selling /providing any goods and services, requirement
of any comment on internal control relating to such assets, goods and services does not arise.
V a) According to the information and explanations given to us we are of the opinion that there are no contract or arrangements
referred to in section 301 of the Companies Act 1956.
b) As the company has not entered any transaction, no comments have been given in respect of clause 4 (v) of the Companies
(Auditor’s Report) Order, 2003.
VI The Company has not accepted any deposits, during the period, from the public, the provisions of clause 4 (vi) is not
applicable.
VII As the company is not listed and also its capital and reserves does not exceed Rs. 50 lakhs, the provision of clause 4 (vii) is not
applicable.
VIII As explained to us, the provisions of section 209 (1)(d) for the maintenance of cost records are not applicable.
IX a) The company is regular in depositing with appropriate authority undisputed statutory dues including Income Tax, Sales
Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and material dues applicable to it.
b) According to the information and explanations given to us and records of the Company amount to be deposited on
account of any dispute under the Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess is nil.
X The Company has not commenced revenue generation and all the expenses are debited to pre-operative expenses pending
capitalization, therefore question of erosion of net worth does not arise.
XI In our opinion and according to the information and explanations given to us, the company has not taken any loan from Banks
or Financial Institutions. Also Company has not issued any Debentures.
XII The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and
other securities, hence the maintenance of adequate documents and records is not applicable.
XIII The Company is not a chit fund or a nidhi/ mutual benefi t fund/ society. Therefore, the provision of clause 4(xiii) of the Companies
(Auditor’s Report) Order, 2003 is not applicable.
XIV The Company is not dealing or trading in shares, securities, debentures and other investments. Therefore, the provision of
clause 4(xiv) of the Companies (Auditor’s Report) Order, 2003 is not applicable.
XV According to information and explanations provided to us, the company has not given any guarantee for loans taken by others
from bank or fi nancial institutions.
XVI The Company has not raised term loans during the period; hence the provision of clause 4 (xvi) of the Companies (Auditor’s
Report) Order, 2003 is not applicable.
XVII According to the information and explanations given to us and based on overall examination of the Balance sheet of the
Company, we report that no funds have been raised on Short-term basis, hence the provision of clause 4(xvii) of the Companies
(Auditor’s Report) Order, 2003 is not applicable.
XVIII According to information and explanations given to us, and on the basis of overall examination of balance sheet, no preferential
allotment of shares to the parties and companies covered in the register maintained under section 301 of the Act is made by
the company during the period.
XIX The Company has not issued any debentures during the period; hence the provision of clause 4(xix) of the Companies (Auditor’s
Report) Order, 2003 is not applicable.
XX During the period the company has not raised any money by way of public issues.
XXI According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during
the period.
For JAIN SINGHAL & ASSOCIATES
Chartered Accountants
Place : New Delhi PRADEEP BERI
Dated : 12 th June, 2009 Partner
Membership No. 82392
| 148 | TWENTIETH ANNUAL REPORT 2008 - 2009