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Auditor Report of Auroma Coke Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Auroma Coke Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The company's Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31 March 2015 and its loss and its cash flows for the year ended on that date.

Emphasis of Matters

We draw attention to the following matters in the Notes to the financial statements:

Note No. 1.12 of the financial statements which, describes the uncertainty related to the outcome of the case filed against the company by CBI and suspension of supply of raw material under FSA by main supplier BCCL and its consequences.

Our opinion is not modified in respect of these matters.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies(Auditor's Report) Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order to the extent applicable.

2. As required by Section 143(3)of the Act, we report that :

a. We have sought and obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit.

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, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified referred to in section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

e. On the basis of the written representations received from the directors as on March 31, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of Section 164(2) of the Act.

f. With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note 1.12 to the financial statements;

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses;

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

Annexure to Independent Auditors' Report

Referred to in Paragraph 1 under the heading of "Report on Other Legal and Regulatory Requirements" to the members of the company on the financial statements for the year ended 31st March, 2015, we report that :

i. We have been informed that the Company is in the process of preparing fixed assets register. Physical verification of assets has been conducted on selective basis and no discrepancies were noticed during such verification. In our opinion this method of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

ii. (a) We have been informed that the management has conducted physical verification of inventories at the year end and no material discrepancies have been noticed on such verification as compared to book records.

(b) The procedures followed for such verification are reasonable in relation to the size of the Company and the nature of its business.

(c) The company is maintaining proper records of inventory.

iii. (a) The company has granted unsecured loans to the bodies corporate covered in the register maintained under section 189 of the Companies Act, 2013 ("the Act").

(b) There is no stipulation regarding repayment of principal and interest and they are repayable on demand, and the company is receiving the principal and interest as and when demanded. Accordingly, paragraph 3(iii)(b) of the Order is not applicable to the company.

(c) There are no overdue amounts of more than rupees one lakh in respect of the loans granted to the bodies corporate listed in the register maintained under section 189 of the Act.

iv. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

v. We have been informed that the Company has not accepted any deposits as defined under Companies (Acceptance of Deposits) Rules, 2014 read along with other notifications/Rules issued from time to time. Therefore the provisions of Clause (v) of the Order is not applicable to the company.

vi. The Central Government has not specified the maintenance of cost records under section 148(1) of the Act for the company.

vii. We have been informed that the company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, income tax, sales tax, wealth tax, custom duty, service tax, cess and any other statutory dues with the appropriate authorities, wherever applicable, except with some delays. There has been delay in depositing excise duty, service tax, Tax deducted at Source, Employees State Insurance, Electricity duty and in one case of income tax. However, there are no arrears of outstanding liabilities as at the end of the year for a period of more than six months from the date they became payable, except in case of Sales Tax ' 1.00 lacs, Electricity Duty Rs 0.16 lacs and Income tax Rs 0.64 lacs.

There are demands in respect of sales tax dues, which are disputed by the company but the said demands have been adjusted by the department from the input credit available with them. The company is yet to file revision petition / appeals in respect of demands adjusted from input credit or claim for input credit not admitted amounting to Rs 23.56 lacs with the appropriate authorities for the year 2006-07 to 2010-11.

According to the information and explanations given to us, the following dues of sales tax / VAT has not been deposited by the company on account of disputes:

Name of the Nature of the Amount Period to Forum where Statute dues involved which dispute relate is pending

JVAT Act, 2005 Tax & Penalty Rs 43.76 2007-08 Commissioner of Sales Tax

JVAT Act, 2005 Tax & Penalty Rs 2.40 2008-09 Commissioner of Sales Tax

viii. The company does not have any accumulated losses at the end of the financial year The losses incurred have been adjusted with the balance available in Profit & Loss Account. The company has incurred cash loss during the financial year covered by our audit. No cash loss was incurred in the immediately preceding financial year

ix. The company has not defaulted in repayment of dues to any bank or financial institutions. The company has not raised any amount by way of Debentures.

x. The company has not given any guarantee for loans taken by others from any bank or financial institutions.

xi. Term loans raised were applied for the purposes for which the loans were obtained.

xii. Based upon the audit procedures performed and information and explanations given to us, we report that no fraud on or by the company has been noticed or reported during the year during the course of our audit.

For AGARWAL KHEMKA & ASOCIATES Chartered Accountants (Registration Number : 314133E)

A. K. Agarwal Place : Kolkata Proprietor Date : 30th day of May, 2015 Membership Number : 052791


Mar 31, 2014

We have audited the accompanying financial statements of Auroma Coke Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2014, Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India including Accounting Standards referred to in Section 211(3C) of the Companies Act,1956 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors'' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity''s control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India :

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

(b) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and

(c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies(Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by Section 227(3)of the Act, we report that:

a. We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit.

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, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in section 211(3C) of the Act.

e. On the basis of the written representations received from the directors as on March 31, 2014, taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of Section 274(1)(g) of the Act.

Referred to in Paragraph 1 under the heading of "Report on Other Legal and Regulatory Requirements" of our report of even date

(a) We have been informed that the Company is in the process of preparing fixed assets register. No substantial part of fixed asset has been disposed off during the year. Physical verification of assets has been conducted on selective basis and no discrepancies were noticed during such verification.

(b) We have been informed that the management has conducted physical verification of finished goods, raw materials, spare parts and construction work in progress at the year end and no material discrepancies have been noticed on such verification as compared to book records. The procedures followed for such verification are reasonable in relation to the size of the Company and the nature of its business. The company is maintaining proper records of inventory.

(c) The company has taken unsecured loans from companies which are covered in the register maintained under section 301 of the Act. The transactions involved during the year are as follow :

No. of Companies Amount Paid (Rs.) Amount Received (Rs.)

2 246.62 lacs 138.55 lacs

The rate of interest and other terms and conditions of above loans are not prima-facie prejudicial to the interest of the Company. There is no stipulation regarding repayment of principal and interest and they are repayable on demand, and the company is paying the principal and interest as and when demanded.

(d) The company has granted unsecured loans to companies which are covered in the register maintained under section 301 of the Act. The transactions involved during the year is as follow:

No. of Companies Amount Paid (Rs.) Amount Received (Rs.)

1 207.00 lacs 120.00 lacs

The rate of interest and other terms and conditions of above loans are not prima-facie prejudicial to the interest of the Company. There is no stipulation regarding repayment of principal and interest and they are payable on demand, and the company is paying/receiving the principal and interest as and when demanded.

(e) In respect of loans taken from or given to other parties, the terms and conditions of such loans are not prima-facie prejudice to the interest of the company. They are payable/repayable on demand and are being paid / repaid as and when demanded.

(f) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

(g) The particulars of contracts or arrangements referred to in section 301 of the Act have been so entered in the register maintained under that section. The transactions made in pursuance of such contracts or arrangements exceeding the value of Rs. 5,00,000/- in respect of each party during the year have been made at prices which appear reasonable having regard to the prevailing market prices at the relevant time, wherever available.

(h) We have been informed that the Company has not accepted any deposits from public, share holders or others as defined under Section 58A of the Companies Act, 1956 during the year. Therefore the provisions of Clause (vi) of paragraph 4 of the Order are not applicable to the company.

(i) The Company has appointed a firm of Chartered Accountants to conduct the internal audit periodically which is considered to be adequate and commensurate with the size and nature of its present activities.

(j) We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1)(d) of the Companies Act, 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

(k) We have been informed that the company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, income tax, sales tax, wealth tax,

custom duty, service tax, cess and any other statutory dues with the appropriate authorities, wherever applicable, except with some delays. There has been delay in depositing excise duty, service tax, Tax deducted at Source, Employees State Insurance, Electricity duty and in one case of income tax. However, there are no arrears of outstanding liabilities as at the end of the year for a period of more than six months from the date they became payable, except in case of Sales Tax '' 1.00 lacs, Electricity Duty '' 0.05 lacs and Income tax '' 0.64 lacs.

There are demands in respect of sales tax dues, which are disputed by the company but the said demands have been adjusted by the department from the input credit available with them. The company is yet to file revision petition/appeals in respect of demands adjusted from input credit or claim for input credit not admitted amounting to '' 12.94 lacs with the appropriate authorities for the year 2006-07 to 2008-

In respect of demand of Excise duty, the company has deposited under protest the amount demanded by the authorities and has simultaneously filed appeal with the authorities. The details of appeal filed are as under :

Name of the Nature of the Amount Period to Forum where Statute dues involved which relate dispute is pending

Central Excise Duty '' 4.50 lacs 2010-11 Commissioner Excise Act, of Central 1994 Excise (Appeals)

(l) The company does not have any accumulated losses at the end of the financial year. The company has not incurred any cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(m) The company has not defaulted in repayment of dues to any bank/financial institutions. The company has not raised any amount by way of Debenture from bank or financial institution.

(n) The company has not granted any loans and/or advances on the basis of security by way of pledge of shares, debentures and other securities or any guarantee.

(o) The company is not a chit fund/nidhi/mutual benefit / society. Therefore, the provisions of clause (xiii) of paragraph 4 of the Order are not applicable to the company.

(p) In respect of investment in shares, securities, debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The shares, securities, debentures and other securities have been held by the company, in its own name except to the extent of the exemption, if any, granted under section 49 of the Act;

(q) The company has not given any guarantee for loans taken by others from any bank or financial institution.

(r) No term loans were raised during the year.

(s) According to the information and explanations given to us and on overall examination of the Balance Sheet of the company, we are of the opinion that there are no funds raised on short term basis that have been used for long term investment.

(t) The company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act during the year.

(u) The company has not raised any amount by issue of secured debentures.

(v) During the year, the company has not raised any amount by public issues.

(w) Based upon the audit procedures performed 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 AGARWAL KHEMKA & ASOCIATES Chartered Accountants (Registration Number : 314133E) A. K. Agarwal Place : Kolkata Proprietor Date : 30th day of May, 2014 Membership Number : 052791


Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of Auroma Coke Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2013, Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Consolidated Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India including Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgement, including the assessment -of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2013;

(b) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and

(c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by Section 227(3)of the Act, we report that:

a. We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit.

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, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in section 211(3C) of the Act,

e. On the basis of the written representations received from the directors as on March 31, 2013, taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2013, from being appointed as a director in terms of Section 274(l)(g)oftheAct.

AnneXUre to the Independent Auditors'' Report

Referred to in Paragraph 1 under the heading of "Report on Other Legal and Regulatory Requirements" of our report of even date

(a) We have been informed that the Company is in the process of preparing fixed assets register. No substantial part of fixed asset has been disposed off during the year.

(b) We have been informed that the management has conducted physical verification of finished goods, raw materials, spare parts and construction work in progress at the year end and no material discrepancies have been noticed on such verification as compared to book records. The procedures followed for such verification are reasonable in relation to the size of the Company and the nature of its business. The company is maintaining proper records of inventory.

(c) The company has taken unsecured loans from companies which are covered in the register maintained under section 301 of the Act. The transactions involved during the year are as follow:

No. of Companies Amount Paid (Rs.) Amount Received (Rs.)

2 232.75 lacs 309.00 lacs

The rate of interest and other terms and conditions of above loans are not prima-facie prejudicial to the interest of the Company. There is no stipulation regarding repayment of principal and interest and they are repayable on demand, and the company is paying the principal and interest as and when demanded.

(d) The company has granted unsecured loans to companies which are covered in the register maintained under section 301 of the Act. The transactions involved during the year is as follow:

No. of Companies Amount Paid (Rs.) Amount Received (Rs.)

1 4.00 lacs 4.00 lacs

The rate of interest and other terms and conditions of above loans are not prima-facie prejudicial to the interest of the Company. There is no stipulation regarding repayment of principal and interest and they are payable on demand, and the company is paying/receiving the principal and interest as and when demanded.

(e) In respect of loans taken from or given to other parties, the terms and conditions of such loans are not prima - facie prejudice to the interest of the company. They are payable / repayable on demand and are being paid / repaid as and when demanded.

(f) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

(g) The particulars of contracts or arrangements referred to in section 301 of the Act have been so entered in the register maintained under that section. The transactions made in pursuance of such contracts or arrangements exceeding the value of Rs. 5,00,000/- in respect of each party during the year have been made at prices which appear reasonable having regard to the prevailing market prices at the relevant time, wherever available.

(h) We have been informed that the Company has not accepted any deposits from public, share holders or others as defined under Section 58A of the Companies Act, 1956 during the year. Therefore the provisions of Clause (vi) of paragraph 4 of the Order are not applicable to the company.

(i) The Company has appointed a firm of Chartered Accountants to conduct the internal audit periodically which is considered to be adequate and commensurate with the size and nature of its present activities.

(j) We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(l)(d) of the Companies Act, 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

(k) We have been informed that the company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, income tax, sales tax, wealth tax, custom duty, service tax, cess and any other statutory dues with the appropriate authorities, wherever applicable, except with some delays. There has been delay in depositing excise duty and Employees State Insurance and in one case of income tax. However, there are no arrears of outstanding liabilities as at the end of the year for a period of more than six months from the date they became payable except in case of Sales Tax Rs. 1.00 lacs and Income tax Rs. 0.64 lacs.

There are demands in respect of sales tax dues, which are disputed by the company but the said demands have been adjusted by the department from the input credit available with them. The company is yet to file revision petition / appeals in respect of demands adjusted from input credit or claim for input credit not admitted amounting to Rs. 12.94 lacs with the appropriate authorities for the year 2006-07 to 2008-09.

(I) The company does not have any accumulated losses at the end of the financial year. The company has not incurred any cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(m) The company has not defaulted in repayment of dues to any bank/financial institutions. The company has not raised any amount by way of Debenture from bank.or financial institution.

(n) The company has not granted any loans and / or advances on the basis of security by way of pledge of shares, debentures and other

securities or any guarantee. (o) The company is not a chit fund / nidhi / mutual benefit / society. Therefore, the provisions of clause (xiii) of paragraph 4 of the Order are not applicable to the company.

(p) In respect of investment in shares, securities, debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The shares, securities, debentures and other securities have been held by the company, in its own name except to the extent of the exemption, if any, granted under section 49 of the Act;

(q) The company has not given any guarantee for loans taken by others from any bank or financial institution.

(r) The term loans raised during the year were applied for the purpose for which the loans were obtained.

(s) According to the information and explanations given to us and on overall examination of the Balance Sheet of the company, we are of the opinion that there are no funds raised on short term basis that have been used for long term investment.

(t) The company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act during the year.

(u) The company has not raised any amount by issue of secured debentures.

(v) During the year, the company has not raised any amount by public issues.

(w) Based upon the audit procedures performed 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 AGARWAL KHEMKA & ASSOCIATES

Chartered Accountants

Firm Registration No. 314133E

A. K. Agarwal

Place : Kolkata Proprietor

Dated : 30th day of May, 2013 Membership No. 052791


Mar 31, 2012

1. We have audited the attached Balance Sheet of Auroma Coke Limited, as at 31st March, 2012 and also the Profit and Loss Account, Cash Flow Statement 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.

2. We 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 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.

3. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraph 4 and 5 of the said Order on the basis of information and explanations given to us during the course of audit.

4. Further, to our comments in the Annexure referred to above, 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 purposes of our audit;

(ii) 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;

(iii) The Balance Sheet ,Profit and Loss Account, and Cash Flow Statement dealt with by this report are in agreement with the books of account ;

(iv) In our opinion, the Balance Sheet, Profit and Loss Account, 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 the directors as on 31st March, 2012. and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March,2012 from being appointed as a director in terms 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 give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March'2012.

(b) In the case of the Profit and Loss Account, of the Profit for the year ended on that date.

(c) In the case of Cash Flow Statement of the cash flows for the year ended on that date.

Annexure to the Auditors' Report Referred to in paragraph 3 of our report of even date

(a) We have been informed that the Company is in the process of preparing fixed assets register. No substantial part of fixed assets has been disposed off during the year.

(b) We have been informed that the management has conducted physical verification of finished goods, raw materials, spare parts and construction work in progress at the year end and no material discrepancies have been noticed on such verification as compared to book records. The procedures followed for such verification are reasonable in relation to the size of the Company and the nature of its business. The company is maintaining proper records of inventory.

(c) The company has taken unsecured loans from companies which are covered in the register maintained under section 301 of the Act. The transactions involved during the year are as follow:

No. of Companies Amount Paid (Rs.) Amount Received (Rs.)

2 305.00 lacs 327.50 lacs

The rate of interest and other terms and conditions of above loans are not prima-facie prejudicial to the interest of the Company. There is no stipulation regarding repayment of principal and interest and they are repayable on demand, and the company is paying the principal and interest as and when demanded.

(d) The company has granted unsecured loans to companies which are covered in the register maintained under section 301 of the Act. The transactions involved during the year is as follow :

No. of Companies Amount Paid (Rs.) Amount Received (Rs.)

1 561.00 lacs 563.00 lacs

The rate of interest and other terms and conditions of above loans are not prima-facie prejudicial to the interest of the Company. There is no stipulation regarding repayment of principal and interest and they are payable on demand, and the company is paying/receiving the principal and interest as and when demanded.

(e) In respect of loans taken from or given to other parties, the terms and conditions of such loans are not prima - facie prejudice to the interest of the company. They are payable / repayable on demand and are being paid/repaid as and when demanded.

(f) In our opinion there is adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. We have not observed any continuing failure to correct major weaknesses in internal control system.

(g) The particulars of contracts or arrangements referred to in section 301 of the Act have been so entered in the register maintained under that section. The transactions made in pursuance of such contracts or arrangements have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time, wherever available.

(h) We have been informed that the Company has not accepted any deposits from public, share holders or others as defined under Section 58A of the Companies Act, 1956 during the year.

(i) The Company has appointed a firm of Chartered Accountants to conduct the internal audit periodically which is considered to be adequate and commensurate with the size and nature of its present activities.

(j) We have been informed that the company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, income tax, sales tax, wealth tax, custom duty, service tax, cess and any other statutory dues with the appropriate authorities, wherever applicable, except with minor delays. There has been delay in depositing excise duty and Employees State Insurance and in one case of income tax. However, there are no arrears of outstanding liabilities as at the end of the year for a period of more than six months from the date they became payable except in case of Sales Tax Rs. 1.00 lacs and Income tax Rs. 0.64 lacs.

There are demands in respect of sales tax dues, which are disputed by the company but the said demands, except Rs. 0.52 lacs for the year 2007-08, have been adjusted by the department from the input credit available with them. The company is yet to file revision petition / appeals in respect of demands adjusted from input credit or claim for input credit not admitted amounting to Rs. 12.94 lacs with the appropriate authorities for the year 2006-07 to 2008-09.

(k) The company does not have any accumulated losses at the end of the financial year. The company has not incurred any cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(l) The company has not defaulted in repayment of dues to any bank/financial institutions. The company has not raised any amount by way of Debenture from bank or financial institution.

(m) In respect of investment in shares, securities, debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The shares, securities, debentures and other securities have been held by the company, in its own name except to the extent of the exemption, if any, granted under section 49 of the Act;

(n) The company has not granted any loans and / or advances on the basis of security by way of pledge of shares, debentures and other securities or any guarantee.

(o) The company has not given any guarantee for loans taken by others from any bank or financial institution.

(p) The term loans were applied for the purpose for which the loans were obtained.

(q) According to the information and explanations given to us, no funds raised on short term basis by the Company during the year under audit have been used for long term investment.

(r) The company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act during the year.

(s) During the year, the company has not raised any amount by public issues.

(t) Based upon the audit procedures performed 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.

(u) The other provisions of the said Order are not applicable in case of this Company.

For AGARWAL KHEMKA & ASSOCIATES Chartered Accountants Firm No. 314133E A. K. Agarwal Place : Kolkata Proprietor Dated : 14th day of August, 2012 Membership No. 52791


Mar 31, 2010

1. We have audited the attached Balance Sheet of Auroma Coke Limited as at 31st March, 2010 and also the Profit and Loss Account, Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We 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 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.

3. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexurea statement on the matters specified in paragraph 4 and 5 of the said Order on the basis of information and explanations given to us during the course of audit.

4. Further to our comments in the Annexure referred to above, 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 purposes of our audit;

(ii) 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;

(iii) The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(iv) In our opinion, the Balance Sheet, Profit and Loss Account, 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 the directors as on 31st March, 2010 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31 st March, 2010 from being appointed as a director in terms 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 give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India :

(a)In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2010.

(b) In the case of the Profit and Loss Account, of the Profit for the year ended on that date.

(c) In the case of Cash Flow Statement of the cash flows for the year ended on that date.

Annexure to the AuditorsReport

Referred to in paragraph 3 of our report of even date

(a) We have been informed that the Company is in the process of preparing fixed assets register. No substantial part of fixed asset has been disposed off during the year.

(b) We have been informed that the management has conducted physical verification of finished goods, raw materials, spare parts and construction work in progress at the year end and no material discrepancies have been noticed on such verification as compared to book records. The procedures followed for such verification are reasonable in relation to the size of the Company and the nature of its business. The company is maintaining proper records of inventory.

(c) The company has not taken any loans secured or unsecured from companies which are covered in the register maintained under section 301 of the Act.

(d) The company has not granted any loans secured or unsecured to companies which are covered in the register maintained under section 301 of the Act.

(e) In respect of loans taken from or given to other parties, the terms and conditions of such loans are not prima - facie prejudice to the interest of the company. They are payable / repayable on demand and are being paid/repaid as and when demanded.

(f) In our opinion there is adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. We have not observed any continuing failure to correct major weaknesses in internal control system.

(g) The particulars of contracts or arrangements referred to in section 301 of the Act have been so entered in the register maintained under that section. The transactions made in pursuance of such contracts or arrangements have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time, wherever available.

(h) We have been informed that the Company has not accepted any deposits from public, share holders or others as defined under Section 58A of the Companies Act, 1956 during the year.

(i) The Company has appointed a firm of Chartered Accountants to conduct the internal audit periodically which is considered to be adequate and commensurate with the size and nature of its present activities.

(j) We have been informed that the company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, Employees State Insurance, income tax, sales tax, wealth tax, custom duty, service tax, excise duty, cess and any other statutory dues with the appropriate authorities, wherever applicable, except with minor delays. In respect of sales tax dues there are no arrears of outstanding liabilities as at the end of the year for a period of more than six months from the date they became payable except Rs. 1.00 lacs.

The disputes in respect of sales tax dues, which are yet to be deposited, are as follow:

Year Amount involved Forum where dispute pending

2006-07 Rs. 14.32 lacs Jt. Comm. of Comml. Taxes (Appeal)

(k) The company does not have any accumulated losses at the end of the financial year. The company has not incurred any cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(I) The company has not defaulted in repayment of dues to any bank/financial institutions. The company has not raised any amount by way of Debenture from bank or financial institution.

(m) In respect of investment in shares, securities, debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein.The shares, securities, debentures and other securities have been held by the company, in its own name except to the extent of the exemption, if any, granted under section 49 of the Act;

(n) The company has not granted any loans and / or advances on the basis of security by way of pledge of shares, debentures and other securities or any guarantee.

(o) The company has not given any guarantee for loans taken by others from any bank or financial institution.

(p) No term loan was raised during the year.

(q) According to the information and explanations given to us, no funds raised on short term basis by the Company during the year under audit have been used for long term investment.

(r) The company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act during the year.

(s) During the year, the company has not raised any amount by public issues.

(t) Based upon the audit procedures performed 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.

(u) The other provisions of the said Order are not applicable in case of this Company.

For AGARWAL KHEMKA & ASSOCIATES

Chartered Accountants

A. K. Agarwal

Proprietor Place : Kolkata Membership No. 52791

Dated : This 31st day of July, 2010 Firm No. 314133E



 
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