Mar 31, 2015
We have audited the accompanying financial statements of ELF Trading
and Chemicals Manufacturing Limited ('the Company'), which comprise
the balance sheet as at 31st March 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 and presentation 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 ofthe Act for safeguarding the assets ofthe
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
thereunder.
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 misstatement.
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 ofthe 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 the 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, ofthe state of affairs ofthe Company as
at 31st March 2015 and its profit and its cash flows for the year
ended on that date.
Emphasis of Matter
We draw your attention that during the year the company has not
complied with the requirement ofthe section 203 of the Companies Act,
2013 read with the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014. Our opinion is not qualified in
respect of this matter.
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 the paragraph 3 and 4 ofthe
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 explanations
which to the best of our knowledge and belief were necessary for the
purposes of our audit.
b. In our opinion proper books of account as required by law have been
kept by the Company so far as it 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 under 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 31st March 2015 taken on record by the Board of
Directors, none of the directors is disqualified as on 31 March 2015
from being appointed as a director in terms of Section 164 (2) ofthe
Act; and
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 does not have any pending litigations which would
impact its financial position;
ii. the Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses; and
iii. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
Company.
Annexure to the Independent Auditors' Report
The Annexure referred to in our Independent Auditors' Report to the
members of the Company on the financial statements for the year ended
31 March 2015, we report that:
(i) (a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
(b) The Company has a regular programme of physical verification of
its fixed assets by which fixed assets are verified in a phased manner
over a period of three years. In accordance with this programme,
certain fixed assets were verified during the year and no material
discrepancies were noticed on such verification. In our opinion, this
periodicity of physical verification is reasonable having regard to
the size of the Company and the nature of its assets.
(ii) The Company is a trading company; primarily goods are purchased
as per requirements of buyer. Accordingly, it does not hold any
physical inventories. Thus, paragraph 3(ii) of the said Order is not
applicable.
(iii) (a) The Company has not granted loans to any corporate covered
in the register maintained under section 189 of the Companies Act,
2013 ('the Act'). Thus, paragraph 3(iii)(b), and (iii)(c) ofthe said
Order are also not applicable.
(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 with
regard to purchase of fixed assets and sale of goods. We have not
observed any major weakness in the internal control system during the
course of the audit.
(v) The Company has not accepted any deposits from the public.
(vi) The Central Government has not prescribed the maintenance of cost
records under section 148(1) ofthe Act, for any ofthe activities of by
the Company.
(vii) (a) According to the information and explanations given to us
and on the basis of our examination ofthe records ofthe Company,
amounts deducted/ accrued in the books of account in respect of
undisputed statutory dues including provident fund, income tax, sales
tax, wealth tax, service tax, duty of customs, value added tax, cess
and other material statutory dues have been regularly deposited during
the year by the Company with the appropriate authorities. As explained
to us, the Company did not have any dues on account of employees'
state insurance and duty of excise. According to the information and
explanations given to us, no undisputed amounts payable in respect of
provident fund, income tax, sales tax, wealth tax, service tax, duty
of customs, value added tax, cess and other material statutory dues
were in arrears as at 31st March 2015 for a period of more than six
months from the date they became payable.
(b) According to the information and explanations given to us, there
are no material dues of wealth tax, duty of customs and cess which
have not been deposited with the appropriate authorities on account of
any dispute.
(c) According to the information and explanations given to us the
amounts which were required to be transferred to the investor
education and protection fund in accordance with the relevant
provisions of the Companies Act, 1956 (1 of 1956) and rules there
under has been transferred to such fund within time.
(viii) The Company does not have any accumulated losses at the end of
the financial year and has not incurred cash losses in the financial
year and in the immediately preceding financial year.
(ix) The Company did not have any outstanding dues to financial
institutions, banks or debenture holders during the year.
(x) In our opinion and according to the information and the
explanations given to us, the Company has not given any guarantee for
loans taken by others from banks or financial institutions.
(xi) The Company did not have any term loans outstanding during the
year.
(xii) According to the information and explanations given to us, no
material fraud on or by the Company has been noticed or reported
during the course of our audit.
For Kamlesh T. Mody & Co.
Chartered Accountants
FRN: - 104690W
Kamlesh T. Mody
Proprietor
Mem no. 032170
Mumbai; 18th May 2015
Mar 31, 2014
We have audited the accompanying financial statements of ELF TRADING
AND CHEMICAL MANUFACTURING LIMITED ("the Company"), which comprise the
Balance Sheet as at March 31,2014, and the Statement of Profit and Loss
and 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 Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance of the Company in accordance with the
Accounting Standards notified under the Companies Act, 1956 ("the
Act")read with the General Circular 15/2013 dated 13th September 2013
of the Ministry of Corporate Affairs in respect of Section 133 of the
Companies Act, 2013 and in accordance with the accounting principles
generally accepted in India. 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
Cur 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 misstatement.
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 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 control relevant to the Company's preparation and
fair 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 Company's
internal 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 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/
loss of the Company for the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows of the
Company 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
sub-section (4A) of section 227 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 explanations 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 it appears from our examination of those
books;
c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. in our opinion, the Balance Sheet, Statement of Profit and Loss,
dealt with by this report comply with the Accounting Standards notified
under the Act read with the General circular 15/2013 dated 13th
September 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Act, 2013;
e. on the basis of written representations received from the directors
as on March 31,2014, and 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 clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
ANNEXURE TO THE INDEPENDENT AUDITORS REPORT
(Referred to in Paragraph 1 of our report of even date)
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The Company has a phased program of physical verification of its
fixed assets which, in our opinion, is reasonable having regard to the
size of the Company and the nature of its assets. In accordance with
such program, the management has physically verified fixed assets
during the year and no material discrepancies were noticed on such
verification.
(c) The Company has not disposed off a substantial part of fixed assets
during the year, and therefore do not affect the, going concern status
of the Company.
(ii) (a) As explained to us, physical verification of the inventory was
carried out at reasonable intervals by the management.
(b) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory followed by the management are reasonable and adequate in
relation to the size of the Company and nature of its business.
(c) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory as compared to the book records were not material and have
been properly dealt with in the books of account.
(iii) (a) The Company has not granted any loans, secured or unsecured
to or from Companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956. According,
clause (iii) (b), (iii) (c) and (iii) (d) of the Order are not
applicable.
(b) The Company has not taken any loans, secured or unsecured or from
Companies, firms or other parties covered in the register maintained
under Section 301 of the Companies Act, 1956. Accordingly clause
(iii)(f) & (iii)(g) are not applicable.
(iv) In our opinion, and according to the information and explanations
given to us, the Company has adequate internal control system
commensurate with the size of the Company and nature of its business
for the purchase of inventory, fixed assets and for the sale of goods
and service. Further, during the course of the audit we have neither
come across nor have we been informed of any major weakness in the
internal control system.
(v) To the best of our knowledge and belief and according to the
information and explanations given to us, the transactions made in
pursuance of such contracts or arrangements that need to be entered in
the register in pursuance of Section 301 of the Act, have been entered
and such transactions made are at prices which are reasonable with
regard to the prevailing market price at the relevant time.
(vi) The Company has not accepted any deposit from the public and
consequently, the directives issued by the Reserve Bank of India, the
provisions of section 58A and 58AA of the Companies Act, 1956 and the
rules framed thereunder are not applicable.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us, the
Central government has not prescribed the maintenance of cost records
under clause (d) of sub-section (1) of Section 209 of the Companies
Act, 1956 in respect of the activities carried out by the Company.
(ix) (a) According to the information and explanations given to us and
on the basis of the books of account, the Company has been regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Employees' State Insurance, Income-tax, Sales
Tax, Wealth tax, Service tax, Custom Duty, Excise Duty, Cess and any
other material statutory dues applicable to it. However in case of
Investor Education and Protection Fund the Company has not deposited
same with the appropriate authorities.
(b) According to the information and explanations given to us, no
undisputed amounts in respect of the statutory dues referred to above
were outstanding as at March 31st 2014 for a period of more than six
months from the date they became payable.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in- the immediately preceding financial year.
(xi) The Company has neither taken any loans from a financial
institutions and and a bank nor issued any debentures. Accordingly,
clause 4(xi) of the Order is not applicable.
(xii) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly clause (xii) of the order is not applicable.
(xiii) The Company is not a Chit Fund, nidhi, mutual benefit fund or a
society. Accordingly clause (xiii) of the order is not applicable.
(xiv) The Company has maintained proper records in respect of
transaction and contracts of its dealing and trading in investments and
timely entries have been made thereon. All the investments have been
held by the Company in its own name.
(xv) According to the information and explanations given to us, the
Company has not given guarantee for loans taken by others from banks or
financial institutions. Accordingly, clause (xv) of the order is not
applicable.
(xvi) The Company has not obtained any term loans during the year.
Accordingly, clause (xvi) of the Order is not applicable.
(xvii) According to the information and explanations given to us, the
Company has not raised any funds on short term basis. All assets have
been funded by shareholders' funds.
(xviii) 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. Accordingly, Clause 4(xviii) of the order is
not applicable.
(xix) The Company has not issued any debentures. Accordingly, Clause
4(xix) of the order is not applicable.
(xx) The Company has not raised any money by public issue during the
year. Accordingly, Clause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
year.
For Kamlesh T. Mody & Co.
Chartered Accountants
FRN:104690W
Sd/-
Kamlesh T. Mody
Proprietor
Membership No. 032170
Place: Mumbai
Date: 27th May 2014
Mar 31, 2013
Report on the Financial Statements
We have audited the accompanying financial statements of ELF TRADING
AND CHEMICAL MANUFACTURING LIMITED ("the Company"), which comprise the
Balance Sheet as at March 31,2013, and the Statement of Profit and Loss
and 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 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 the Accounting Standards referred to in sub-section
(3C) of section 211 of the Companies Act, 1956 ("the AcL"). 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 misstatement.
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 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 control relevant to the Company''s preparation and
fair 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 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/
loss of the Company for the year elided on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows of the
Company 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
sub-section (4A) of section 227 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 explanations 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 it appears from our examination of
those books;
c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. in our opinion, the Balance Sheet, Statement of Profit and Loss,
and Cash Flow Statement comply with the Accounting Standards referred
to in subsection (3C) of section 211 of the Companies Act, 1956;
e. on the basis of written representations received from the directors
as on March 31, 2013, and 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 clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
ANNEXURETO THE INDEPENDENT AUDITORS REPORT (Referred to in Paragraph 1
of our report of even date)
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The Company has a phased program of physical verification of its
fixed assets which, in our opinion, is reasonable having regard to the
size of the Company and the nature of its assets. In accordance with
such program, the management has physically verified fixed assets
during the year and no material discrepancies were noticed on such
verification.
(c) The Company has not disposed off a substantial part of fixed assets
during the year, and therefore do not affect the, going concern status
of the Company.
(ii) (a) As explained to us, physical verification of the inventory was
carried out at reasonable intervals by tine management.
(b) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory followed by the management are reasonable and adequate in
relation to the size of the Company and nature of its business.
(c) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory as compared to the book records were not material and have
been properly dealt with in the books of account.
(iii) (a) The Company has not granted any loans, secured or unsecured
to or from Companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956. According,
clause (iii) (b), (iii) (c) and (iii) (d) of the Order are not
applicable.
(b) The Company has not taken any loans, secured or unsecured or from
Companies, firms or other parries covered in the register maintained
under Section 301 of the Companies Act, 1956. Accordingly clause
(iii)(f) & (iii)(g) are not applicable.
(iv) In our opinion, and according to the information and explanations
given to us, the Company has adequate internal control system
commensurate with the size of the Company and nature of its business
for the purchase of inventory, fixed assets arid for the sale of goods
and service. Further, during the course of the audit we have neither
come across nor have we been informed of any major weakness in the
internal control system.
(v) To the best of our knowledge and belief and according to the
information and explanations given to us, the transactions made in
pursuance of such contracts or arrangements that need to be entered in
the register in pursuance of Section 301 of the Act, have been entered
and such transactions made are at prices which are reasonable with
regard to the prevailing market price at the relevant time.
(vi) The Company has not accepted any deposit from the public and
consequently, the directives issued by the Reserve Bank of India, the
provisions of section 58A and 58AA of the Companies Act, 1956 and the
rules framed thereunder are not applicable.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to die information and explanations given to us, the
Central government has not prescribed the maintenance of cost records
under clause (d) of sub-section (1) of Section 209 of the Companies
Act, 1956 in respect of the activities carried out by the Company.
(ix) (a) According to the information and explanations given to us and
on the basis of the books of account, the Company has been regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees'' State Insurance, Income-tax, Sales-Tax, Wealth tax, Service
tax, Custom Duty, Excise Duty, Cess and any other material statutory
dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amounts in respect of the statutory dues referred to above
were outstanding as at March 31st 2012 for a period of more than six
months from the date they became payable.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
(xi) The Company has neither taken any loans from a financial
institutions and a bank nor issued any debentures. Accordingly, clause
4(xi) of the Order is not applicable.
(xii) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly clause (xii) of the order is not applicable.
(xiii) The Company is not a Chit Fund, nidhi, mutual benefit fund or a
society. Accordingly clause (xiii) of the order is not applicable.
(xiv) The Company has maintained proper records in respect of
transaction and contracts of its dealing and trading in investments and
timely entries have been made thereon. All the investments have been
held by the Company in its own name.
(xv) According to the information and explanations given to us, the
Company has not given guarantee for loans taken by others from banks or
financial institutions. Accordingly, clause (xv) of the order is not
applicable.
(xvi) The Company has not obtained any term loans during the year.
Accordingly, clause (xvi) oi the Order is not applicable.
(xvii) According to the information and explanations given to us, the
Company has not raised any funds on short term basis. All assets have
been funded by shareholders'' funds.
(xviii) 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. Accordingly, Clause 4(xviii) of the order is
not applicable.
(xix) The Company has not issued any debentures. Accordingly, Clause
4(xix) of the order is not applicable.
(xx) The Company has not raised any money by public issue during the
year. Accordingly, Clause 4{xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been nodced or reported during the year.
For Kamlesh T. Mody & Co.
Chartered Accountants
FRN: 104690W
Sd/-
Kamlesh T. Mody
Proprietor
Membership No. 32170
Place; Mumbai
Date: 30th May 2013
Mar 31, 2012
We have audited the attached Balance Sheets of ELF TRADING & CHEMICALS
MFG. LTD. ('the Company') as at March 31, 2012, the Profit and Loss
Account and the Cash Flow Statement of the Company for the year ended
on that date, annexed thereto, (together referred to as 'financial
statements'). 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. These Standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of materials 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.
As required by the Companies (Auditor's Report) Order, 2003, as
amended by' the.
Companies-(Auditor' Report) (Amendment) order 2004 (together the
"order"), issued by the Central Government of India in terms of Section
227(4A) of the Act, and on the basis of such checks of the books and
records as we considered necessary and appropriate and according to the
information and explanations given to us during the course of the
audit, we enclose in the Annexure, a statement on the matters specified
in paragraphs 4 and 5 of the said Order.
Further to our comments in the Annexure referred to above, we report
that:
a. 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;
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. in our opinion, the Balance Sheet, Profit and Loss Account and Cash
Flow statement dealt with by this report comply with the books of
accounts ;
d. in our opinion, the Balance Sheet, the Profit and Loss Account and
Cash Flow Statement dealt with by this report comply with the
Accounting Standards referred to in sub-section (3C) of Section 211 of
the Companies Act, 1956;
e. on the basis of the written representations received from the
directors, and taken on record by the Board of Directors, we report
that none of the directors are disqualified as on March 31, 2012 from
being appointed as director under clause (g) of sub-section (1) of
Section 274 of the Act;
f. in our opinion and to the best of our information and according to
the explanations given to us, the said financial statements, read
together with the Significant Accounting Policies and Notes thereon,
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:
i. in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2012;
ii. in the case of the Profit and Loss, of the profit of the Company
for the year ended on that date; and
iii. in case of Cash Flow statement, of the cash flows of the Company
for the year ended on that date.
ANNEXURE TO AUDITORS REPORT
The Annexure referred to in the auditor's report to the members of
Elf Trading & Chemicals Mfg. Ltd. (the Company) for the year ended
March 31, 2012. We report that:
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The Company has a phased program of physical verification of its
fixed assets which, in our opinion, is reasonable having regard to the
size of the Company and the nature of its assets. In accordance with
such program, the management has physically verified fixed assets
during the year and no material discrepancies were noticed on such
verification.
(c) The Company has not disposed off a substantial part of fixed assets
during the year, and therefore do not affect the, going concern status
of the Company.
(ii) (a) As explained to us, physical verification of the inventory was
carried out at reasonable intervals by the management.
(b) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory followed by the management are reasonable and adequate in
relation to the size of the Company and nature of its business.
(c) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory as compared to the book records were not material and have
been properly dealt with in the books of account.
(iii) (a) The Company has not granted any loans, secured or unsecured
to or from Companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956. According,
clause (iii) (b), (iii) (c) and (iii) (d) of the Order axe not
applicable.
(b) The Company has not taken any loans, secured or unsecured or from
Companies, firms or other parties covered in the register maintained
under Section 301 of the Companies Act, 1956. Accordingly clause
(iii)(f) & (iii)(g) are not applicable.
(iv) In our opinion, and according to the information and explanations
given to us, the Company has adequate internal control system
commensurate with the size of the Company and nature of its business
for the purchase of inventory, fixed assets and for the sale of goods
and service. Further, during the course of the audit we have neither
come across nor have we been informed of any major weakness in the
internal control system.
(v) To the best of our knowledge and belief and according to the
information and explanations given to us, the transactions made in
pursuance of such contracts or arrangements that need to be entered in
the register in pursuance of Section 301 of the Act, have been entered
and such transactions made are at prices which are reasonable with
regard to the prevailing market price at the relevant time.
(vi) The Company has not accepted any deposit from the public and
consequently, the directives issued by the Reserve Bank of India, the
provisions of section 58A and 58AA of the Companies Act, 1956 and the
rules framed there under are not applicable. .
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us, the
Central government has not prescribed the maintenance of cost records
under clause (d) of sub-section (1) of Section 209 of the Companies
Act, 1956 in respect of the activities carried out by the Company.
(ix) (a) According to the information and explanations given to us and
on the basis of the books of account, the Company has been regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees; State Insurance, Income-tax, Sales-Tax, Wealth tax, Service
tax, Custom Duty, Excise Duty, Cess and any other material statutory
dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amounts in respect of the statutory dues referred to above
were outstanding as at March 31st 2012 for a period of more than six
months from the date they became payable.
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
(xi) The Company has neither taken any loans from a financial
institutions and a bank nor issued any debentures. Accordingly,
clause 4(xi) of the Order is not applicable.
(xii) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly clause (xii) of the order is not applicable.
(xiii) The Company is not a Chit Fund, nidhi, mutual benefit fund or a
society. Accordingly clause (xiii) of the order is not applicable.
(xiv) The Company has maintained proper records in respect of
transaction and contracts of its dealing and trading in investments and
timely entries have been made thereon. All the investments have been
held by the Company in its own name.
(xv) According to the information and explanations given to us, the
Company has not given guarantee for loans taken by others from banks or
financial institutions. Accordingly, clause (xv) if the order is not
applicable.
(xvi) The Company has not obtained any term loans during the year.
Accordingly, clause (xvi) of the Order is not applicable.
(xvii) According to the information and explanations given to us, the
Company has not raised any funds on short term basis. All assets have
been funded by shareholders' funds.
(xviii) 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. Accordingly, Clause 4(xviii) of the order is
not applicable.
(xix) The Company has not issued any debentures. Accordingly, Clause
4(xix) of the order is not applicable.
(xx) The Company has not raised any money by public issue during the
year. Accordingly, Clause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
year.
For Kamlesh T. Mody & Co.
Chartered Accountants
FRN: 104690W
Sd/-
Kamlesh T. Mody
Proprietor
Membership No. 32170
Place: Mumbai
Date: 30th May 2012
Mar 31, 2011
We have audited the attached Balance Sheets of ELF TRADING & CHEMICALS
MFG. LTD. ('the Company') as at March 31, 2011, the Profit and Loss
Account and the Cash Flow Statement of the Company for the year ended
on that date, annexed thereto, (together referred to as 'financial
statements'). 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. These Standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of materials 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.
As required by the Companies (Auditor's Report) Order, 2003, as amended
by the Companies (Auditor's Report) (Amendment) order 2004 (together
the 'order'), issued by the Central Government of India in terms of
Section 227(4A) of the Act, and on the basis of such checks of the
books and records as we considered necessary and appropriate and
according to the information and explanations given to us during the
course of the audit, we enclose in the Annexure, a statement on the
matters specified in paragraphs 4 and 5 of the said Order.
Further to our comments in the Annexure referred to above and subject
to Note No.1 in schedule J of the audited accounts pertaining to
provisions of Section 45 IA of Reserve Bank of India Act, we report
that:
a. 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;
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. in our opinion, the Balance Sheet, Profit and Loss Account and Cash
Flow statement dealt with by this report comply with the books of
accounts ;
d. in our opinion, the Balance Sheet, the Profit and Loss Account and
Cash Flow Statement dealt with by this report comply with the
Accounting Standards referred to in sub-section (3C) of Section 211 of
the Companies Act, 1956;
e. on the basis of the written representations received from the
directors, and taken on record by the Board of Directors, we report
that none of the directors are disqualified as on March 31, 2011 from
being appointed as director under clause (g) of sub-section (1) of
Section 274 of the Act;
f. in our opinion and to the best of our information and according to
the explanations given to us, the said accounts, read together with the
Significant Accounting Policies and Notes thereon and in particular
Note No. 2, 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:
i. in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2011;
ii. in the case of the Profit and Loss, of the profit of the Company
for the year ended on that date; and
iii. in case of Cash Flow statement, of the cash flows of the Company
for the year ended on that date.
ANNEXURE TO AUDITORS REPORT
The Annexure referred to in the auditor's report to the members of Elf
Trading & Chemicals Mfg. Ltd. (the Company) for the year ended March
31, 2011. We report that:
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The Company has a phased program of physical verification of its
fixed assets which, in our opinion, is reasonable having regard to the
size of the Company and the nature of its assets. In accordance with
such program, the management has physically verified fixed assets
during the year and no material discrepancies were noticed on such
verification..
(c) The Company has not disposed off a substantial part of fixed assets
during the year, and therefore do not affect the, going concern status
of the Company.
(ii) (a) As explained to us, physical verification of the inventory was
carried out at reasonable intervals by the management.
(b) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory followed by the management are reasonable and adequate in
relation to the size of the Company and nature of its business.
(c) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory as compared to the book records were not material and have
been properly dealt with in the books of account.
(iii) (a) The Company has not granted any loans, secured or unsecured
to or from Companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956. According,
clause (iii) (b), (iii) (c) and (iii) (d) of the Order are not
applicable.
(b) The Company has not taken any loans, secured or unsecured or from
Companies, firms or other parties covered in the register maintained
under Section 301 of the Companies Act, 1956. Accordingly clause
(iii)(f) & (iii)(g) are not applicable.
(iv) In our opinion, and according to the information and explanations
given to us, the Company has adequate internal control system
commensurate with the size of the Company and nature of its business
for the purchase of inventory, fixed assets and for the sale of goods
and service. Further, during the course of the audit we have neither
come across nor have we been informed of any major weakness in the
internal control system.
(v) To the best of our knowledge and belief and according to the
information and explanations given to us, the transactions made in
pursuance of such contracts or arrangements that need to be entered in
the register in pursuance of Section 301 of the Act, have been entered
and such transactions made are at prices which are reasonable with
regard to the prevailing market price at the relevant time.
(vi) The Company has not accepted any deposit from the public and
consequently, the directives issued by the Reserve Bank of India, the
provisions of section 58A and 58AA of the Companies Act, 1956 and the
rules framed thereunder are not applicable.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us, the
Central government has not prescribed the maintenance of cost records
under clause (d) of sub-section (1) of Section 209 of the Companies
Act, 1956 in respect of the activities carried out by the Company.
(ix) (a) According to the information and explanations given to us and
on the basis of the books of account, the Company has been regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees' State Insurance, Income-tax, Sales-Tax, Wealth tax, Service
tax, Custom Duty, Excise Duty, Cess and any other material statutory
dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amounts in respect of the statutory dues referred to above
were outstanding as at March 31st 2011 for a period of more than six
months from the date they became payable.
(c) According to the information and explanations given to us details
of dues in respect of Income tax, Sales tax, Wealth tax, Service tax,
Custom Duty, Excise Duty and Cess which have not been deposited with
the appropriate authorities on account of any dispute are given below:
Particulars Period to which the From where the Amount
amount Relates dispute is
pending
Income Tax 2002-2003 Appeal pending 3,78,621
before CIT
Appeals
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
(xi) The Company has neither taken any loans from a financial
institutions and and a bank nor issued any debentures. Accordingly,
clause 4(xi) of the Order is not applicable.
(xii) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly clause (xii) of the order is not applicable.
(xiii) The Company is not a Chit Fund, nidhi, mutual benefit fund or a
society. Accordingly clause (xiii) of the order is not applicable.
(xiv) The Company has maintained proper records in respect of
transaction and contracts of its dealing and trading in investments and
timely entries have been made thereon. All the investments have been
held by the Company in its own name.
(xv) According to the information and explanations given to us, the
Company has not given guarantee for loans taken by others from banks or
financial institutions. Accordingly, clause (xv) if the order is not
applicable.
(xvi) The Company has not obtained any term loans during the year.
Accordingly, clause (xvi) of the Order is not applicable.
(xvii) According to the information and explanations given to us, the
Company has not raised any funds on short term basis. All assets have
been funded by shareholders' funds.
(xviii) 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. Accordingly, Clause 4(xviii) of the order is
not applicable.
(xix) The Company has not issued any debentures. Accordingly, Clause
4(xix) of the order is not applicable.
(xx) The Company has not raised any money by public issue during the
year. Accordingly, Clause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
year.
For Kamlesh T. Mody & Co.
Chartered Accountants
FRN : 104690W
Kamlesh T. Mody
Proprietor
Membership No. 32170
Place: Mumbai
Date : 30th May 2011
Mar 31, 2010
We have audited the attached Balance Sheets of ELF TRADING & CHEMICALS
MFG. LTD. (the Company) as at March 31, 2010, the Profit and Loss
Account and the Cash Flow Statement of the Company for the year ended
on that date, annexed thereto. (together referred to as financial
statements). 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.
We conducted our audit in accordance with 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 of materials 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.
As required by the Companies (Auditors Report) Order, 2003, as amended
by the Companies (Auditors Report) (Amendment) order 2004 (together
the order), issued by the Central Government of India in terms of
Section 227(4A) of the Act, and on the basis of such checks of the
books and records as we considered necessary and appropriate and
according to the information and explanations given to us during the
course of the audit, we enclose in the Annexure, a statement on the
matters specified in paragraphs 4 and 5 of the said Order.
Further to our comments in the Annexure referred to above and subject
to Note No.2 in schedule J of the audited accounts pertaining to
provisions of Section 45 IA of Reserve Bank of India Act, we report
that:
a. 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;
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. in our opinion, the Balance Sheet, Profit and Loss Account and Cash
Flow statement dealt with by this report comply with the books of
accounts ;
d. in our opinion, the Balance Sheet, the Profit and Loss Account and
Cash Flow Statement dealt with by this report comply with the
Accounting Standards referred to in sub-section (3C) of Section 211 of
the Companies Act, 1956;
e. on the basis of the written representations received from the
directors, and taken on record by the Board of Directors, we report
that none of the directors are disqualified as on March 31, 2010 from
being appointed as director under clause (g) of subsection (1) of
Section 274 of the Act;
f. in our opinion and to the best of our information and according to
the explanations given to us, the said accounts, read together with the
Significant Accounting Policies and Notes thereon and in particular
Note No. 2, 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:
i. in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2010;
ii. in the case of the Profit and Loss, of the profit of the Company
for the year ended on that date; and
iii. in case of Cash Flow statement, of the cash flows of the Company
for the year ended on that date.
ANNEXURE TO AUDITORS REPORT
The Annexure referred to in the auditors report to the members of Elf
Trading & Chemicals Mfg. Ltd. (the Company) for the year ended March
31, 2010. We report that :
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The Company has a phased program of physical verification of its
fixed assets which, in our opinion, is reasonable having regard to the
size of the Company and the nature of its assets. In accordance with
such program, the management has physically verified fixed assets
during the year and no material discrepancies were noticed on such
verification..
(c) The Company has not disposed off a substantial part of fixed assets
during the year, and therefore do not affect the, going concern status
of the Company.
(ii) (a) As explained to us, physical verification of the inventory was
carried out at reasonable intervals by the management.
(b) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory followed by the management are reasonable and adequate in
relation to the size of the Company and nature of its business.
(c) In our opinion, and according to the information and explanations
given to us, the Company has maintained proper records of its
inventory, and the discrepancies noticed on physical verification of
inventory as compared to the book records were not material and have
been properly dealt with in the books of account.
(iii) (a) The Company has not granted any loans, secured or unsecured
to or from Companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956. According,
clause (iii) (b), (iii) (c) and (iii) (d) of the Order are not
applicable.
(b) The Company has not taken any loans, secured or unsecured or from
Companies, firms or other parties covered in the register maintained
under Section 301 of the Companies Act, 1956. Accordingly clause
(iii)(f) & (iii)(g) are not applicable.
(iv) In our opinion, and according to the information and explanations
given to us, the Company has adequate internal control system
commensurate with the size of the Company and nature of its business
for the purchase of inventory, fixed assets and for the sale of goods
and service. Further, during the course of the audit we have neither
come across nor have we been informed of any major weakness in the
internal control system.
(v) To the best of our knowledge and belief and according to the
information and explanations given to us, the transactions made in
pursuance of such contracts or arrangements that need to be entered in
the register in pursuance of Section 301 of the Act, have been entered
and such transactions made are at prices which are reasonable with
regard to the prevailing market price at the relevant time.
(vi) The Company has not accepted any deposit from the public and
consequently, the directives issued by the Reserve Bank of India, the
provisions of section 58A and 58AA of the Companies Act, 1956 and the
rules framed thereunder are not applicable.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us, the
Central government has not prescribed the maintenance of cost records
under clause (d) of sub-section (1) of Section 209 of the Companies
Act, 1956 in respect of the activities carried out by the Company.
(ix) (a) According to the information and explanations given to us and
on the basis of the books of account, the Company has been regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income-tax, Sales-Tax, Wealth tax, Service
tax, Custom Duty, Excise Duty, Cess and any other material statutory
dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed amounts in respect of the statutory dues referred to above
were outstanding as at March 31st 2010 for a period of more than six
months from the date they became payable.
(c) According to the information and explanations given to us details
of dues in respect of Income tax, Sales tax, Wealth tax, Service tax,
Custom Duty, Excise Duty and Cess which have not been deposited with
the appropriate authorities on account of any dispute are given below:
Particulars Period to which the From where the Amount
amount Relates dispute is pending
Income Tax 2002 - 2003 Appeal pending 3,88,121
before CIT
Appeals
Income Tax 2003 - 2004 Appeal pending 7,95,978
before ITAT
(x) The Company does not have any accumulated losses at the end of the
financial year and has not incurred cash losses in the financial year
and in the immediately preceding financial year.
(xi) The Company has neither taken any loans from a financial
institutions and and a bank nor issued any debentures. Accordingly,
clause 4(xi) of the Order is not applicable.
(xii) The Company has not granted any loans or advances on the basis of
security by way of pledge of shares, debentures and other securities.
Accordingly clause (xii) of the order is not applicable.
(xiii) The Company is not a Chit Fund, nidhi, mutual benefit fund or a
society. Accordingly clause (xiii) of the order is not applicable.
(xiv) The Company has maintained proper records in respect of
transaction and contracts of its dealing and trading in investments and
timely entries have been made thereon. All the investments have been
held by the Company in its own name.
(xv) According to the information and explanations given to us, the
Company has not given guarantee for loans taken by others from banks or
financial institutions. Accordingly, clause (xv) if the order is not
applicable.
(xvi) The Company has not obtained any term loans during the year.
Accordingly, clause (xvi) of the Order is not applicable.
(xvii) According to the information and explanations given to us, the
Company has not raised any funds on short term basis. All assets have
been funded by shareholders funds.
(xviii) 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. Accordingly, Clause 4(xviii) of the order is
not applicable.
(xix) The Company has not issued any debentures. Accordingly, Clause
4(xix) of the order is not applicable.
(xx) The Company has not raised any money by public issue during the
year. Accordingly, Clause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
year.
For Kamlesh T. Mody & Co.
Chartered Accountants
FRN : 104690W
Sd/-
Kamlesh T. Mody
Proprietor
Membership No. 32170
Place: Mumbai
Date: 30th July 2010
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