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Auditor Report of Hari Govind International Ltd.

Mar 31, 2012

We have audited the attached Balance Sheet of HARI GOVIND INTERNATIONAL LIMITED as at 31st March, 2012, the Profit and Loss Account FOR THE YEAR EXDED 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.

1. 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.

2.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 Annexure, a statement on the matters specified in paragraphs 4 and 5 of the said order.

3. Further to our comments in the Annexure referred to in paragraph 2 above, we report that:

a) We have obtained all the information and explanations, which to the best of our knowledge and belief were ne3cessary for the purpose of our audit.

b) In our opinion, proper books of account, as required by the law, have been kept by the company, so far as appears from our examination of those books.

c) The Balance Sheet, the Profit & Loss Account dealt with by this report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, the Profit & Loss Account dealt with by this report comply with the mandatory Accounting Standards referred to in sub-section (3c) of section 211 of the Companies Act 1956

e) In our opinion, and based on information and explanation given to us, none of Directors are disqualified as on 31st March, 2012 form being appointed as Directors in term of section 274(1)(g) of The Companies Act, 1956.

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 other notes thereon give the information required by the Companies Act, 1956, in the manner so required, and present a true and fair view in conformity with the accounting principles generally accepted in India:

(i) In so far as it is relates to Balance Sheet, of the state of affairs of the company as at 31st March, 2012;

(ii) In so far as it relates to the Profit & Loss Account, the profit of the company for the year ended on that date;

(iii) In so far as it relates to Cash Flow Statement, of the Cash Flow for the year ended on that date

ANNEXURE REFERRED TO IN PARAGRAPH 2 OF THE AUDITOR'S REPORT ON THE ACCOUNTS OF HARIGOVIND INTERNATIONAL LIMITEDFOR THE YEAR ENDING 2012

As required by the Companies (Auditor's report) Order, 2003 issued by the central Government of India in terms of section 227(4-A) of the Companies Act, 1956, we report that:

It is informed by the management and directors of the company that the company is under closure since 1999-2000. Most of the records in the form of original register, documents etc. are soiled and destroyed by termites that were kept in factory premises.

Regarding the inventory position, there are no records available for the period from 01-04-1999 to 31-03-2000 and onwards.

Whatever data and records that the management have collected from the available spoiled papers etc. is made available to us for audit and examination for the said financial year.

From the above available records the comments on the accounts as annexure to auditor report is as follows.

1. The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. As the company ceases to operate the company has not verified all the fixed assets physically. However to the best of our information and explanations given to us no serious discrepancies been noticed in the records.

2. None of the Fixed Assets have been revalued by the company during the year.

3. Physical verification was not conducted by the management at reasonable intervals during the year in respect of finished goods, raw material, stores & spare part as the operation of the company had stopped in the year 1999-2000.

4. The procedure of physical verification (was nor carried out as the company ceases to operate) of stocks followed by the management are reasonable and adequate in relation to the size of the company and nature of its business.

5. As explained to us no significant discrepancies were noticed on such verification as compared with the book records and the same have been properly dealt with in the books of accounts.

6. The valuation of these stock is fair and proper and in accordance with the normally accepted accounting principles. The basis of valuation of stock is same as in the preceding year

7. During the year the company has taken unsecured loan of Rs. NIL/- age amount of interest is not provided.

8. The company has not granted loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the companies under the same management as detailed under section 370 (1-B) of the Companies Act, 1956.

9. The principal amount and interest there on accumulated is nor recoverable from the said parties. Hence for the current year interest is not charged on the outstanding loan and advance account.

10. As the company ceases to operate since 1999-2000 there were no transaction of purchases of stores, raw material including components plant and machinery and other assets and for the spell of goods. The question of internal control procedures does not arise.

11. The company has not accepted any deposits from the public.

12. The company has no by-products and in our opinion reasonable records have been maintained by the company for sale and disposal of realizable scraps, wherever significant.

13. The company did not have any formal internal audit system but its internal control procedure ensures the checking of financial records which in our opinion is reasonable commensurate with its size and nature of its business.

14. The central government has not prescribed maintenance of cost records to zip manufacturing industry under section 209 (1) (d) of the Companies Act, 1956 (1 of 1956.

15. The company is regular in depositing Provident Fund and Employees State Insurance dues with the appropriate authority.

16. According to the information and explanations give to us, no undisputed amounts payable in respect of Income Tax, Customs Duty and Excise Duty, Wealth Tax, Sales Tax were outstanding as at the last day of the financial year for a period of more then six months from the date they became payable.

17.During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices and as per the information and explanations given to us there are no personal expenses charged to revenue account.

18. The company is not a sick industrial company within the meaning of clause (O) of the sub-section (1) of section (3) of the Sick Industrial Companies, (Special) Provision Act, 1985.

For DILIP JAMBHEKAR & COMPANY Chartered Accountants Sd/- Place : Mumbai (Vinay P. Sapre) Date : 10th August, 2012 Patner Membership No. 10360


Mar 31, 2011

We have audited the attached Balance Sheet of HARI GOVIND INTERNATIONAL LIMITED as at 31st March, 2011, the Profit and Loss Account 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.

1. 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.

2. 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 paragraphs 4 and 5 of the said order.

3. Further to our comments in the Annexure referred to in paragraph 2 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 the law, have been kept by the company, so far as appears from our examination of those books.

c) The Balance Sheet, the Profit & Loss Account dealt with by this report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, the Profit & Loss Account dealt with by this report comply with the mandatory Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act 1956

e) In our opinion, and based on information and explanation given to us, none of Directors are disqualified as on 31st March, 2011 from being appointed as Directors in term of section 274(1 )(g) of The Companies Act, 1956.

I) 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 other notes thereon give the information required by the Companies Act, 1956, in the manner so required, and present a true and fair view in conformity with the accounting principles generally accepted in India:

(i) In so far as it is relates to Balance Sheet, of the state of affairs of the company as at 31st March, 2011;

(ii) In so far as it relates to the Profit & Loss Account, the profit of the company for the year ended on that date;

(iii) In so far as it relates to Cash Flow Statement, of the Cash Flow for the year ended on that date

ANNEXURE REFERRED TO IN PARAGRAPH OF THE AUDITOR'S REPORT ON THE ACCOUNTS OF HARIGOVTND INTERNATIONAL LBVUTEDFOR THE YEAR ENDING 2011

As required by the Companies (Auditor's report) Order, 2003 issued by the central Government of India in terms of section 227(4-A) of the Companies Act, 1956, we report that:

It is informed by the management and directors of the company that the company is under closure since 1999-2000. Most of the records in the form of original register, documents etc. are soiled and destroyed by termites that were kept in factory premises.

Regarding the inventory position, there are no records available for the period from 01-04-1999 to 31-03-2000 and onwards.

Whatever data and records that the management have collected from the available spoiled papers etc. is made available to us for audit and examination for the said financial year.

From the above available records the comments on the accounts as annexure to auditor report is as follows.

1. The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. As the company ceases to operate the company has not verified all the fixed assets physically. However to the best of our information and explanations given to us no serious discrepancies been noticed in the records.

2. None of the Fixed Assets have been revalued by the company during the year.

3. Physical verification was not conducted by the management at reasonable intervals during the year in respect of finished goods, raw material, stores & spare part as the operation of the company had stopped in the year 1999-2000.

4. The procedure of physical verification (was not carried out as the company ceases to operate) of stocks followed by the management are reasonable and adequate in relation to the size of the company and nature of its business.

5. As explained to us no significant discrepancies were noticed on such verification as compared with the book records and the same have been properly dealt with in the books of accounts.

6. The valuation of these stock is fair and proper and in accordance with the normally accepted accounting principles. The basis of valuation of stock is same as in the proceeding year.

7. During the year the company has taken unsecured loan of Rs. NIL/- The amount of interest is not provided.

8. The company has not granted loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the companies under the same management as detailed under section 370 (1-B) of the Companies Act, 1956.

9. The principal amount and interest there on accumulated is not recoverable from the said parties. Hence for the current year interest is not charged on the outstanding loan and advance account.

10. As the company ceases to operate since 1999-2000 there were no transaction of purchases of stores, raw material including components plant and machinery and other assets and for the sell of goods. The question of internal control procedures does not arise.

11. The company has not accepted any deposits from the public.

12. The company has no by-products and in our opinion reasonable records have been maintained by the company for sale and disposal of realizable scraps, wherever significant.

13. The company did not have any formal internal audit system but its internal control procedure ensures the checking of financial records which in our opinion is reasonable commensurate with its size and nature of its business.

14. The central government has not prescribed maintenance of cost records to zip manufacturing industry under section 209 (1) (d) of the Companies Act, 1956 (1 of 1956).

15. The company is regular in depositing Provident Fund and Employees State Insurance dues with the appropriate authority.

16. According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Customs Duty and Excise Duty, Wealth Tax, Sales Tax were outstanding as at the last day of the financial year for a period of more then six months from the date they became payable.

17. During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices and as per the information and explanations given to us there are no personal expenses charged to revenue account.

18. The company is not a sick industrial company within the meaning of clause (O) of the sub-section (1) of section (3) of the Sick Industrial Companies, (Special) Provision Act, 1985.

For DILIP JAMBHEKAR & COMPANY

Chartered Accountants

Sd/-

Place : Mumbai (Vinay P. Sapre)

Date : 10th August, 2011 Partner

Membership No. 103602


Mar 31, 2010

1. We have audited the attached Balance Sheet of M/S HARI GOVIND INTERNATIONAL LIMITED., (name of the company), as at 31st March, 2010, and also the profit and loss account for the year ended on that date annexed thereto [in which are incorporated accounts of NIL branches audited by us, NIL branches audited by other auditors and NIL. Branches exempt from audit under the Companies (Branch Audit) Exemption Rules, 1961]. 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 the 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 mis-statement. 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 paragraphs 4 and 5 of the said Order.

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 [and proper returns adequate for the purposes of our audit have been received from the branches not visited by us. The Branch Auditor's Report have forwarded to us and have been appropriately dealt with];

(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 [and with the audited returns from the branches];

(iv) In our opinion, the balance sheet, 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;

(v) On the basis of written representations received from the directors, as on 31 March, 2010 and taken on record by the Board of directors, we report that none of the directors is disqualified as on 31st March, 2010 from being appointed as a director in terms of clause (g) of sub-section Cl) 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/loss for the year ended on that date.

Annexure refered to in paragraph (1) of our report of even date on the Accounts of M/S HARI GOVIND INTERNATIONAL LTD., for the year ended 31st March, 2010 :

It is informed by the management and directors of the company that the company is under closure since 1999-2000. Most of the records in the form of original register-, documents etc. are soiled and destroyed by termites that were kept in factory premises.

Regarding the inventory position, there are no records available for the period from 01-04-1999 to 31-03-2000 and onwards.

Whatever data and records that the management have collected from the available spoilecH papers etc. is made available to us for audit and examination for the said financial year.

From the above available records the comments on the accounts as annexure to auditor report is as follows.

1. The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. As the company ceases to operate the company had not verified all the fixed assets physically. However to the best of our information and explanations given to us no serious discrepancies been noticed in the records.

2. None of the Fixed Assets have been revalued by the company during the year.

3. Physical verification was not conducted by the management at reasonable intervals during the year in respect of finished goods, raw material, stores & spare part as the operation of the company had stoped in the year 1999-2000.

4. The procedure of physical verification (was not carried out as the company ceases to operate) of stocks followed by the management are reasonable and. adequate in relation to the size of the company and nature of its business.

5. As explained to us no significant discrepancies were noticed on such verification as compared with the book records and the same have been properly dealt with in the books of accounts.

6. The valuation of these stock is fair and proper and in- accordance with the normally accepted accounting principles. The basis of valuation of stock: is same as in the preceeding year.

7. During the year the company has taken unsecured loan of Rs. 10883525/- from Mr. Jugalkishore H. Maniyar director of the company for payment of Administrations & Sales Tax Liability under the amnesty scheme launched by the State Government and payment of unsecured loan of Mrs. Sunita Jugalkishore Maniyar. The amount of interest is not provided.

8. The company has not granted loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the companies under the same management as detailed under section 370 (1 - B) of the Companies Act, 1956:

9. The principal amount and interest there on accumulated is not recoverable from the said parties. Hence for the current year interest is not charged on the outstanding loan and advance account.

10. As the company ceases to operate since 1999-2000 there were no transaction of purchases of stores, raw material including components plant and machinery and other assets and for the sell of goods. The question of internal control procedures does not arise.

11. The company has not accepted any deposits from the public.

12. The company has no-by-products and in our opinion reasonable records have been maintained by the company for sale and disposal of realizable scraps, wherever significant.

13. The company did not have any formal internal audit system but its internal control procedure ensures the checking of financial records which in our opinion is reasonable commensurate with its size and nature of its business.

14. The central government has not prescribed maintenance of cost records to zip manufacturing industry under section 209 (1) (d) of the Companies Act 1956 (1 of 1956).

15. The company is regular in depositing Provident Fund and Employees State Insurance dues with the appropriate authority.

16. According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Customs Duty and Excise Duty, Wealth Tax, Sales Tax were outstanding as at the last day of the financial year for a period of more then six months from the date they became payable.

17. During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices and as per the information and explanations given to us there are no personal expenses charged to revenue account.

18. The Company is not a sick industrial company within the meaning of clause (O) of the sub-section (1) of section (3) of the Sick Industrial Companies, (Special) Provision Act, 1985.

FOR DILIP JAMBHEKAR & COMPANY,

CHARTERED ACCOUNTANTS.

PLACE: NAGPUR.

DATE : 20th August, 2010. (VINAY P. SAPRE)

PARTNER.

Membership No. 103602.

 
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