Mar 31, 2014
We have audited the attached Balance Sheet of M/S RASHEL AGROTECH
LIMITED as at 31st Mar, 2014, Profit & Loss A/c for the year ended on
that date. 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. These standards require that, we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free from any material misstatement. An audit
also 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
presentation of the financial statements. We believe that our audit
provides a reasonable basis for our opinion.
As required by the Companies (Auditors'' Report) Order, 2003 issued by
the Central Government of India in terms of Section 227 (4A) of the
Companies Act, 1956, we enclose in the Annexure statement on the
matters specified therein. We further report that:
1. 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.
2. In our opinion, the company has maintained proper record as
required by law so far as it appears from our examination of the books
of accounts.
3. The Balance Sheet, the Profit & Loss Account and the Cash Flow
Statement dealt with by this report are in agreement with the books of
accounts of the Company;
4. In our opinion the Balance Sheet and the Profit & Loss Account and
the Cash Flow Statement comply with the Accounting Standards referred
to in sub-section [3C] of Section 211 of the Companies Act. 1956.
5. On the basis of written representation received from Director and
taken on record by the Board of Directors, we report that none of the
Directors are disqualified from being appointed as a Director in terms
of Clause (g) of sub section (1) of section 274 of the Companies Act,
1956.
6. In our opinion and according to the information and explanations
given to us, the said accounts read together with the notes thereon,
gives the information required by the Companies Act, 1956 and in the
manner as required and give a true and fair view:
a. In the case of the Balance Sheet of the state of affairs of the
Company as on 31st March, 2014.
b. In the case of Profit & Loss Account of the Profit of the Company
for the year ended on that date; and
c. In the case of Cash Flow statement, of the cash flow for the year
ended on that date.
ANNEXURE TO THE AUDITORS'' REPORT
(Statement referred to in our Report of even date on the Accounts of
M/S Rashel Agrotech Limited for the year ended on 31st March, 2014.)
1) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed Assets.
As explained to us, the fixed assets of the Company are physically
verified by the management at reasonable intervals, during the year in
accordance with the regular program which in our opinion is reasonable
having regard to the size of the Company and the nature of its assets.
No material discrepancies were noticed on such verification.
The Company has not disposed off any substantial part of its Fixed
Assets during the year, so as to affect its going concern.
2) As explained to us, inventories have been physically verified
during the year by the Management. The intervals at which the
inventories have been verified are, in our opinion reasonable in
relation to the size of the Company and the nature of its business.
The procedures explained to us, which are followed by the Management
for physical verification of inventories, are, in our opinion
reasonable and adequate in relation to the size of the Company and the
nature of its business
On the basis of our examination, we are of opinion that, the company
is maintaining proper records of its inventory. Discrepancies which
were noticed on physical verification of inventory as compared to book
records have been properly dealt with in the books of account.
3) According to the information and explanations given to us, the
Company has not granted any loan, Secured or Unsecured to Companies,
Firms or other parties listed in the register maintained under section
301 and/or from the Companies under the same Management as defined
under section 370 (1B) of the Companies Act, 1956.
According to the information and explanations given to us, the Company
has not taken any loan, Secured or Unsecured to Companies, Firms or
other parties listed in the register maintained under section 301
and/or from the Companies under the same Management as defined under
section 370 (1B) of the Companies Act, 1956.
4) In our opinion and according to the information and explanation
given to us there are adequate Internal Control procedures
commensurate with the size of the Company and the nature of its
business with regard to purchase of inventory, fixed assets and with
regard to purchase of inventory, fixed assets and with regard to sale
of goods and services. During the course of our audit, no major
weakness in internal control has come to our notice
5) On the basis of the audit procedures performed by us, and according
to the information, explanations and representations given to us, we
are of the opinion that, the transactions in which directors were
interested, and which were required to be entered in the register
maintained under Section 301 of the Companies Act, 1956, have been so
entered.
In our opinion and according to the information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under Section 301 of the Companies
Act, 1956 exceeding the value of Rupees five lacs in respect of any
party during the year have been made at prices which are reasonable
having regard to market prices prevailing at that time.
6) In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from the public
during the year as stated in the provisions of Section 58 A of the
Companies Act, 1956.
7) In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8) The provisions of Section 209 (1) (d) of the Companies Act, 1956
are not applicable to the Company.
9) According to the records of the Company, there were no undisputed
statutory dues including Provident Fund,
Employees'' State Insurance, Income Tax, Sales Tax, Wealth Tax, Custom
Duty, Cess and other Statutory dues applicable to it as at 31st March,
2014 for a period of more than six months from the date they became
payable.
10) The Company, neither has losses at the end of the year ended nor
has incurred cash losses, both, in the financial year under report and
in the immediately preceding financial year.
11) On the basis of the record examine by us and the information and
explanation given to us, the company has taken loans from the
scheduled bank against proper hypothecation of the property.
12) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares or other
securities.
13) In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund, Societies.
14) In our opinion, and according to the information and explanations
given to us, The Company has maintained proper record of the
transaction and contracts of the trading and shares, securities,
debentures and other investments. All the entries with respect to
investments were timely entered in the books of accounts. All
investments at the close of the year are generally held in the name of
the Company except in a few cases where the titles to the investments
are in dispute or are in the process of transfer.
15) According to the information and explanations given to us, and the
representations made by the management, the Company has not given any
guarantee for loan taken by others from bank or financial
institutions.
16) According to the information and explanations given to us, the
term loans taken by the Company have been applied for the purpose for
which they are raised.
17) The Company has not made any preferential allotment of shares to
the parties or Companies covered in the register maintained under
section 301 of the Companies Act, 1956 during the financial year.
18) The Company has not issued any debentures during the year.
19) Based upon the audit procedures performed by us for expressing our
opinion on these financial statements and information and explanations
given by the Management, we report that no fraud on or by the Company
has been noticed or reported during the year.
For Lakhpat M Trivedi & Co.
Chartered Accountants
Sd/-
Lakhpat M Trivedi
Proprietor
M. No. 109047
Place: Mumbai
Date: 30.05.2014
Mar 31, 2013
We have audited the attached Balance Sheet of M/S RASHEL AGROTECH
LIMITED as at 31st Mar, 2013, Profit & Loss A/c for the year ended on
that date. 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. These standards require that, we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free from any material misstatement. An audit
also 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
presentation of the financial statements. We believe that our audit
provides a reasonable basis for our opinion.
As required by the Companies (Auditors'' Report) Order, 2003 issued by
the Central Government of India in terms of Section 227 (4A) of the
Companied Act, 1956, we enclose in the Annexure statement on the
matters specified therein. We further report that:
4. 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.
5. In our opinion, the company has maintained proper record as
required by law so far as it appears from our examination of the books
of accounts.
6. The Balance Sheet, the Profit & Loss Account and the Cash Flow
Statement dealt with by this report are in agreement with the books of
accounts of the Company;
7. In our opinion the Balance Sheet and the Profit & Loss Account and
the Cash Flow Statement comply with the Accounting Standards referred
to in sub-section [3C] of Section 211 of the Companies Act. 1956.
8. On the basis of written representation received from Director and
taken on record by the Board of Directors, we report that none of the
Directors are disqualified from being appointed as a Director in terms
of Clause (g) of sub section (1) of section 274 of the Companies Act,
1956.
9. In our opinion and according to the information and explanations
given to us, they said accounts read together with the notes thereon,
gives the information required by the Companies Act, 1956 and in the
manner as required and give a true and fair view:
a. In the case of the Balance Sheet of the state of affairs of the
Company as on 31st March, 2013.
b. In the case of Profit & Loss Account of the Profit of the Company
for the year ended on that date; and
c. In the case of Cash Flow statement, of the cash flow for the year
ended on that date.
1) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed Assets.
As explained to us, the fixed assets of the Company are physically
verified by the management at reasonable intervals, during the year in
accordance with the regular program which in our opinion is reasonable
having regard to the size of the Company and the nature of its assets.
No material discrepancies were noticed on such verification.
The Company has not disposed off any substantial part of its Fixed
Assets during the year, so as to affect its going concern.
2) As explained to us, inventories have been physically verified during
the year by the Management. The intervals at which the inventories have
been verified are, in our opinion reasonable in relation to the size of
the Company and the nature of its business.
The procedures explained to us, which are followed by the Management
for physical verification of inventories, are, in our opinion
reasonable and adequate in relation to the size of the Company and the
nature of its business On the basis of our examination, we are of
opinion that, the company is maintaining proper records of its
inventory. Discrepancies which were noticed on physical verification
of inventory as compared to book records have been properly dealt with
in the books of account.
3) According to the information and explanations given to us, the
Company has not granted any loan, Secured or Unsecured to Companies,
Firms or other parties listed in the register maintained under section
301 and/or from the Companies under the same Management as defined
under section 370 (1B) of the Companies Act, 1956.
According to the information and explanations given to us, the Company
has not taken any loan, Secured or Unsecured to Companies, Firms or
other parties listed in the register maintained under section 301
and/or from the Companies under the same Management as defined under
section 370 (1B) of the Companies Act, 1956.
4) In our opinion and according to the information and explanation
given to us there are adequate Internal Control procedures commensurate
with the size of the Company and the nature of its business with regard
to purchase of inventory, fixed assets and with regard to purchase of
inventory, fixed assets and with regard to sale of goods and services.
During the course of our audit, no major weakness in internal control
has come to our notice
5) On the basis of the audit procedures performed by us, and according
to the information, explanations and representations given to us, we
are of the opinion that, the transactions in which directors were
interested, and which were required to be entered in the register
maintained under Section 301 of the Companied Act, 1956, have been so
entered.
In our opinion and according to the information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under Section 301 of the Companies
Act, 1956 exceeding the value of Rupees five lacs in respect of any
party during the year have been made at prices which are reasonable
having regard to market prices prevailing at that time.
8) In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from the public
during the year as stated in the provisions of Section 58 A of the
Companies Act, 1956.
9) In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
10) The provisions of Section 209 (1) (d) of the Companies Act, 1956
are not applicable to the Company.
11) According to the records of the Company, there were no undisputed
statutory dues including Provident Fund, Employees'' State Insurance,
Income Tax, Sales Tax, Wealth Tax, Custom Duty, Cess and other
Statutory dues applicable to it as at 31s March, 2013 for a period of
more than six months from the date they became payable.
12) The Company, neither has losses at the end of the year ended nor
has incurred cash losses, both, in the financial year under report and
in the immediately preceding financial year.
13) On the basis of the record examine by us and the information and
explanation given to us, the company has taken loans from the scheduled
bank against proper hypothecation of the property.
14) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares or other
securities.
15) In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund, Societies.
16) In our opinion, and according to the information and explanations
given to us, The Company has maintained proper record of the
transaction and contracts of the trading and shares, securities,
debentures and other investments. All the entries with respect to
investments were timely entered in the books of accounts. All
investments at the close of the year are generally held in the name of
the Company except in a few cases where the titles to the investments
are in dispute or are in the process of transfer.
15) According to the information and explanations given to us, and the
representations made by the management, the Company has not given any
guarantee for loan taken by others from bank or financial institutions.
16) According to the information and explanations given to us, the term
loans tekan by the Company have been applied for the purpose for which
they are raised.
17) The Company has not made any preferential allotment of shares to
the parties or Companies covered in the register maintained under
section 301 of the Companies Act, 1956 during the financial year.
18) The Company has not issued any debentures during the year.
19) Based upon the audit procedures performed by us for expressing our
opinion on these financial statements and information and explanations
given by the Management, we report that no fraud on or by the Company
has been noticed or reported during the year.
For Lakhpat M Trivedi & Co.
Chartered Accountants
Sd/-
Lakhpat M Trivedi
Place: Mumbai Proprietor
Date: 30.05.2013 M. No. 109047
Mar 31, 2012
We have audited the attached Balance Sheet of M/S RASHEL AGROTECH
LIMITED as at 31st Mar, 2012, Profit & Loss A/c for the year ended on
that date. 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. These standards require that, we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free from any material misstatement. An audit
also 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
presentation of the financial statements. We believe that our audit
provides a reasonable basis for our opinion.
As required by the Companies (Auditors'' Report) Order, 2003 issued by
the Central Government of India in terms of Section 227 (4A) of the
Companied Act, 1956, we enclose in the Annexure statement on the
matters specified therein. We further report that:
4. 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.
5. In our opinion, the company has maintained proper record as
required by law so far as it appears from our examination of the books
of accounts.
6. The Balance Sheet, the Profit & Loss Account and the Cash Flow
Statement dealt with by this report are in agreement with the books of
accounts of the Company;
7. In our opinion the Balance Sheet and the Profit & Loss Account and
the Cash Flow Statement comply with the Accounting Standards referred
to in sub-section [3C] of Section 211 of the Companies Act. 1956.
8. On the basis of written representation received from Director and
taken on record by the Board of Directors, we report that none of the
Directors are disqualified from being appointed as a Director in terms
of Clause (g) of sub section (1) of section 274 of the Companies Act,
1956.
9. In our opinion and according to the information and explanations
given to us, the said accounts read together with the notes thereon,
gives the information required by the Companies Act, 1956 and in the
manner as required and give a true and fair view:
a. In the case of the Balance Sheet of the state of affairs of the
Company as on 31st March, 2012.
b. In the case of Profit & Loss Account of the Profit of the Company
for the year ended on that date; and
c. In the case of Cash Flow statement, of the cash flow for the year
ended on that date.
1) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed Assets.
As explained to us, the fixed assets of the Company are physically
verified by the management at reasonable intervals, during the year in
accordance with the regular program which in our opinion is reasonable
having regard to the size of the Company and the nature of its assets.
No material discrepancies were noticed on such verification.
The Company has not disposed off any substantial part of its Fixed
Assets during the year, so as to affect its going concern.
2) As explained to us, inventories have been physically verified during
the year by the Management. The intervals at which the inventories have
been verified are, in our opinion reasonable in relation to the size of
the Company and the nature of its business.
The procedures explained to us, which are followed by the Management
for physical verification of inventories, are, in our opinion
reasonable and adequate in relation to the size of the Company and the
nature of its business
On the basis of our examination, we are of opinion that, the company is
maintaining proper records of its inventory. Discrepancies which were
noticed on physical verification of inventory as compared to book
records have been properly dealt with in the books of account.
3) According to the information and explanations given to us, the
Company has not granted any loan, Secured or Unsecured to Companies,
Firms or other parties listed in the register maintained under section
301 and/or from the Companies under the same Management as defined
under section 370 (1B) of the Companies Act, 1956.
According to the information and explanations given to us, the Company
has not taken any loan, Secured or Unsecured to Companies, Firms or
other parties listed in the register maintained under section 301
and/or from the Companies under the same Management as defined under
section 370 (1B) of the Companies Act, 1956.
4) In our opinion and according to the information and explanation
given to us there are adequate Internal Control procedures commensurate
with the size of the Company and the nature of its business with regard
to purchase of inventory, fixed assets and with regard to purchase of
inventory, fixed assets and with regard to sale of goods and services.
During the course of our audit, no major weakness in internal control
has come to our notice
5) On the basis of the audit procedures performed by us, and according
to the information, explanations and representations given to us, we
are of the opinion that, the transactions in which directors were
interested, and which were required to be entered in the register
maintained under Section 301 of the Companied Act, 1956, have been so
entered.
In our opinion and according to the information and explanations given
to us, the transactions made in pursuance of contracts or arrangements
entered in the register maintained under Section 301 of the Companies
Act, 1956 exceeding the value of Rupees five lacs in respect of any
party during the year have been made at prices which are reasonable
having regard to market prices prevailing at that time.
8) In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from the public
during the year as stated in the provisions of Section 58 A of the
Companies Act, 1956.
9) In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
10) The provisions of Section 209 (1) (d) of the Companies Act, 1956
are not applicable to the Company.
11) According to the records of the Company, there were no undisputed
statutory dues including Provident Fund, Employees'' State Insurance,
Income Tax, Sales Tax, Wealth Tax, Custom Duty, Cess and other
Statutory dues applicable to it as at 31s March, 2012 for a period of
more than six months from the date they became payable.
12) The Company, neither has losses at the end of the year ended nor
has incurred cash losses, both, in the financial year under report and
in the immediately preceding financial year.
13) On the basis of the record examine by us and the information and
explanation given to us, the company has taken loans from the scheduled
bank against proper hypothecation of the property.
14) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares or other
securities.
15) In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund, Societies.
16) In our opinion, and according to the information and explanations
given to us, The Company has maintained proper record of the
transaction and contracts of the trading and shares, securities,
debentures and other investments. All the entries with respect to
investments were timely entered in the books of accounts. All
investments at the close of the year are generally held in the name of
the Company except in a few cases where the titles to the investments
are in dispute or are in the process of transfer.
15) According to the information and explanations given to us, and the
representations made by the management, the Company has not given any
guarantee for loan taken by others from bank or financial institutions.
16) According to the information and explanations given to us, the term
loans taken by the Company have been applied for the purpose for which
they are raised.
17) The Company has not made any preferential allotment of shares to
the parties or Companies covered in the register maintained under
section 301 of the Companies Act, 1956 during the financial year.
18) The Company has not issued any debentures during the year.
19) Based upon the audit procedures performed by us for expressing our
opinion on these financial statements and information and explanations
given by the Management, we report that no fraud on or by the Company
has been noticed or reported during the year.
For Lakhpat M Trivedi & Co.
Chartered Accountants
Sd/-
Lakhpat M Trivedi
Place: Mumbai Proprietor
Date: 19.08.2012 M. No. 109047
Mar 31, 2010
We have audited the attached Balance Sheet of M/S RASHEL AGROTECH
LIMITED. as at 31st March, 2010 and Profit & Loss A/c for the year
ended on that date annexed thereto. 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 auditing standards generally
accepted in India. Those standard require that, we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatements. 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 statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
As required by the Companies (Auditors'' Report) codes, 2003 issued by
the Company Law Board in terms of Section 227(4A) of the Companies
Act,1956. We give in the annexure hereto a statement on the matters
specified in the said order.
1. 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.
2. In our opinion, the company has maintained proper record as
required by law so far as it appears from our examination of the books
of accounts.
3. The Balance Sheet and the Profit & Loss Account dealt with by this
report are in agreement with the books of accounts and comply with the
accounting standards referred to in sub-section [3C] of Section 211 of
the Companies Act. 1956.
4. On the basis of written representation received from Director and
taken on record by the Board of Directors, we report that none of the
Directors are disqualified from being appointed as a Director in terms
of Clause (g) of sub section (1) of section 274 of the Companies Act,
1956.
5. In our opinion and according to the information and explanations
given to us, the said accounts read together with the notes thereon,
gives the information required by the Companies Act, 1956 and in the
manner as required and give a true and fair view:
a. In the case of the Balance Sheet of the state of affairs of the
Company as on 31st March, 2010.
b. In the case of Profit & Loss Account of the Profit of the Company
for year ended that date.
c. In the case of Cash Flow statement, of the cash flow for the year
ended on that date.
(Statement referred to in paragraph 1 of our Report of even date on the
Accounts of M/S RASHEL
AGROTECH LIMITED for the year ended 31st March, 2010.)
1) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed Assets. The fixed
assets of the Company have been physically verified by the management
during the year in accordance with the regular program which in our
opinion is reasonable having regard to the size of the Company and the
nature of its assets. No material discrepancies were noticed on such
verification. The Company has not disposed off any Fixed Assets during
the year.
2) The company does not carry any stock of Raw Material, Finished
Goods, Stores and Spares. As per the practice consistently followed by
the Company, purchase of stationery etc. are charged to the revenue
directly and no stock is carried by the Company. In view of the above
no comments are offered on (i) procedure of physical verification (ii)
discrepancies on physical verification if any.
3) The Company has not taken any loan secured or unsecured from
Companies, Firms and other parties listed in the register maintained
under section 301 and/or from the Companies under the same Management
as defined under section 370 (1B) of the Companies Act, 1956. In view
of this sub clause (b), (c) and (d) of the clause (iii) of the
Companies (Auditors'' Report) Order, 2003 are not applicable.
4) In our opinion and according to the information and explanation
given to us there are adequate Internal Control procedures commensurate
with the size of the Company and the nature of its business.
5) In our opinion and according to the information and explanations
given to us the Company has not done any transaction that needs to be
entered in the register maintained under Section 301 of the Act.
6) In our opinion and according to the information and explanations
given to us the Company has not accepted any deposit from the public
during the year as stated in the provisions of Section 58 A of the
Companies Act, 1956.
7) In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
8) The provisions of Section 209 (1) (d) of the Companies Act, 1956 are
not applicable to the Company.
9) According to the records of the Company, there were no undisputed
statutory dues including Provident Fund, , Employees'' State Insurance,
Income Tax, Sales Tax, Wealth Tax, Custom Duty, cess and other
Statutory dues applicable to it as at 31st March, 2010 for a period of
more than six months from the date they became payable.
10) The Company does not have any accumulated losses at the end of the
financial year.
11) The company has not taken any loans from bank or financial
institutions.
12) The Company has, in our opinion, maintained adequate documents and
records in respect of loans and advances granted on the basis of
security by way of pledge of shares and other securities.
13) In our opinion and according to the information and explanations
given to us, the nature of activities of the Company does not attract
any special statute applicable to chit fund and nidhi/mutual benefit
fund, Societies.
14) The Company has, in our opinion, maintained proper records and
contracts with respect to its investments where timely entries of
transactions are made in the former. All investments at the close of
the year are generally held in the name of the Company except in a few
cases where the titles to the investments are in dispute or are in the
process of transfer.
15) The Company has not given any guarantee for loan taken by others
from bank or financial institutions.
16) The company has not taken any term loan, during the financial year.
17) The Company has not raised any fund, long term or short term during
the year.
18) The Company has not made any preferential allotment of shares to
the parties or Companies covered in the register maintained under
section 301 of the Companies Act,1956.
19) The Company has not issued any debentures during the year.
20) The Company has not raised any money through a public issue during
the year.
21) Based upon the audit procedures performed by us for expressing our
opinion on these financial statements and information and explanations
given by the Management, we report that no fraud on or by the Company
has been noticed or reported during the year.
For M/S Lakhpat M. Trivedi & Co.
Chartered Accountants
Sd/-
Lakhpat M. Trivedi
Proprietor
Place : Mumbai
Date : 07.09.2010
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