Mar 31, 2014
We have audited the accompanying financial statements of Linkhouse
Industries Ltd., 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
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. 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, 2014.
(b) in the case of the Profit and Loss Account, 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 (Auditors Report) Order, 2003 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 appears from our examination of those
books (and proper returns adequate for the purposes of our audit have
been received from branches not visited by us;
(c) the Balance Sheet, Statement of Prot and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account (and with the returns received from branches not visited by us:
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, 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 AUDITOR''S REPORT
(As referred to in Paragraph 1 of our report of Event Date)
(i) (a) The company has generally maintained proper records showing
full particulars, including quantitative details and situation of fixed
assets.
(b) The management has physically verified all its fixed assets at
reasonable intervals and no material discrepancies were noticed on such
physical verification.
(c) There was no substantial disposal of fixed assets during the year
(ii) (a) As per the information furnished, the management at reasonable
intervals during the year has physically verified the inventories.
(b) In our opinion and accordingly to the information and explanation
given to us, procedures of physical verification of inventory followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
(c) In our opinion, the company is maintaining proper records of
inventory. The discrepancies noticed on physical verification of
inventory as compared to books record were not material and have been
property dealt with in the books of account.
(iii) a) The company had granted any secured or unsecured loan to
parties that are covered in the register maintained under section 301
of the Company Act, 1956.The amount involved is Rs.2234.51 Lakhs. The
Parties involved are 9
b) The company had granted Interest free loan and the other terms and
conditions of loans granted by the company are prima fade nit
prejudicial to the interest of the company
The receipt of the principal amount and interest wherever applicable
are regular
d) The overdue amount is more than rupees one lacs and reasonable steps
have been taken by the company for recovery of the principal and
interest
e) The Company has taken loans from companies firms or other parties
listed in the register maintained under section 301 of the companies
Act 1956. The amount involved is Rs.1061.76 Lakhs. The parties involved
are 16.
f) The rate of interest and other terms and conditions of loans taken
by the company secured or unsecured, are prima facie not prejudicial to
the interest of the company
g) The payment of the principal amount and interest wherever applicable
are regular.
(iv) In our opinion and according to the information and explanations
given to us, there are generally adequate internal control procedures
commensurate with the size of the company and the nature of its
business for purchase of inventory and or fixed assets and for the sale
of goods. During the course of our audit no major weakness has been
noticed in these internal controls.
(v) a) According to the information and explanation given to us, we are
of the opinion that the transactions that need to be entered in the
register maintained under section 301 of the Companies Ad, 1956 have
been so entered.
b) In our opinion and according to the information and explanation
given to us the transactions made in pursuance of contracts or
arrangements entered in the Register maintained under Section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lacs in
respect of any party during the year, have been made at prices which
are reasonable having regard to the prevailing market prices at the
relevant time.
(vi) In our opinion and according to the information and explanation
given to us, the Company has not accepted any deposit from the public
within the meaning of Section 58A and 58AA of the Companies Act, 1956
and the Companies (Acceptance of Deposits) Rules, 1975.
(vii) As per the information and explanation given to us, the Company
has an internal audit system commensurate to the size of the Company
and the nature of its business.
(viii) The Central Government has not prescribed maintenance of Cost
Records under Section 209(1)(d) of the Companies Act, 1956 in respect
of the Company''s product.
(ix) a) According to the information and explanation given to us and
the records examined by us, the company is regular in depositing
undisputed statutory dues including Employees State Insurance, Income
Tax, Service Tax and any other statutory dues wherever applicable with
the appropriate authorities. According to the information and
explanation give to us, no undisputed arrears of statutory dues were
outstanding as at 31s March, 2014 for a period of more than six months
from the date they became payable.
b) According to the records of the Company there are no statutory dues,
which are outstanding on account of any dispute at the end of the year.
(x) The Company does not have accumulated losses at the end of the
financial year and has not incurred cash losses in the current or in
the immediately preceding financial year.
(xi) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not defaulted
in repayment of dues to any Financial Institution, Bank and the Company
does not have any borrowings by way of debentures.
(xii) The company has not granted any loans and advances on the basis
of security by way of pledge of Shares, Debentures and other
Securities.
(xiii) The provisions of any special statute applicable to chit funds/
nidhi/mutual benefits funds/society do not apply to the company.
(xiv) In our opinion, the Company is not a dealer or trader in Shares,
Securities, Debentures and other Investments.
(xv) According to the information and explanations given to us by the
management, the Company has not given any guarantee for loans taken by
others from banks or Financial Institutions.
(xvi) The Company is regular in re-payment of Principal amount of term
loan and interest due thereon.
(xvii) According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we report that
no funds raised on short-term basis have been used for long-term
investment.
(xviii) The Company has not made any allotment of equity Share on
preferential basis to body corporate.
(xix) The Company has not issued any debentures.
(xx) The Company has not raised any money by public issues during the
year.
(xxi) During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the company, noticed or reported during the year, nor
have we been informed of such case by the management
For SANJAY S. AGRAWAL & CO.
Chartered Accountants
F.R NO.116200W
(Dhiraj M. Moryani)
Partner
M.No. 129877
Place: Nagpur
Date: 30/05/2014
Mar 31, 2012
1. We have audited the attached Balance Sheet of M/S. LINKHOUSE
INDUSTRIES LIMITED, as at 31 March 2012 and its Profit and Loss Account
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 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 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 the 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 as
amended by Companies (Auditor''s Report) Order, 2004 issued by the
Central Government of India in terms of Sub- section (4A)of the Section
227 (4A) of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paras 4 and 5 of the said orders.
4. 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 Accounts, as required by law have
been kept by the Company, so far as appears from the examination of
such books.
c) The Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the Books of Account of the company.
d) In our opinion the Balance Sheet and Profit & Loss Account dealt
with by this report comply with 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 31st March, 2012 and taken on record by the Board of Directors,
we report that none of the Director 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.
f) In our opinion and to the best of our information and according to
the explanations given to us, the said statements of Account 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 :
I. In the case of the Balance Sheet, of the state of Affairs of the
Company as on 31st March, 2012 and:
II. In the case of the Profit and Loss Account, of the Profit of the
Company for the year ended on that date.
ANNEXURE TO AUDITOR''S REPORT (As referred to in Paragraph 1 of our
report of Event Date)
(i) a) The company has generally maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) The management has physically verified all its fixed assets at
reasonable intervals and no material discrepancies were noticed on such
physical verification.
c) There was no substantial disposal of fixed assets during the year.
(ii) a) As per the information furnished, the management at reasonable
intervals during the year has physically verified the inventories.
b) In our opinion and accordingly to the information and explanation
given to us, procedures of physical verification of inventory followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
c) In our opinion, the company is maintaining proper records of
inventory. The discrepancies noticed on physical verification of
inventory as compared to books record were not material and have been
property dealt with in the books of account.
(iii) a) The company had granted unsecured loan to parties that are
covered in the register maintained under section 301 of the Company
Act, 1956. The amount involved is Rs.23.72 crores.
b) The company had granted Interest free loan and the other terms and
conditions of loans given by the company are prima facie prejudicial to
the interest of the company
c) The receipt of the principal amount and interest wherever applicable
are regular.
d) There is no overdue amount more than rupees one lacs
e) The Company has taken loans from companies, firms or other parties
listed in the register maintained under section 301 of the companies
Act 1956. The amount involved is Rs. 10.85 crores.
f) The company had taken Interest free loan and the other terms and
conditions of loans taken by the company are prima facie prejudicial to
the interest of the company
g) The payment of the principal amount and interest wherever applicable
are regular.
(iv) In our opinion and according to the information and explanations
given to us, there are generally adequate internal control procedures
commensurate with the size of the company and the nature of its
business for purchase of inventory and or fixed assets and for the sale
of goods. During the course of our audit no major weakness has been
noticed in these internal controls.
(v) a) According to the information and explanation given to us, we are
of the opinion that the transactions that need to be entered in the
register maintained under section 301 of the Companies Act, 1956 have
been so entered.
b) In our opinion and according to the information and explanation
given to us the transactions made in pursuance of contracts or
arrangements entered in the Register maintained under Section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lacs in
respect of any party during the year, have been made at prices which
are reasonable having regard to the prevailing market prices at the
relevant time.
(vi) In our opinion and according to the information and explanation
given to us, the Company has not accepted any deposit from the public
within the meaning of Section 58A and 58AA of the Companies Act, 1956
and the Companies (Acceptance of Deposits) Rules, 1975.
(vii) As per the information and explanation given to us, the Company
has an internal audit system commensurate to the size of the Company
and the nature of its business.
(viii) The Central Government has not prescribed maintenance of Cost
Records under Section 209(1 )(d) of the Companies Act, 1956 in respect
of the Company''s product.
(ix) a) According to the information and explanation given to us and
the records examined by us, the company is regular in depositing
undisputed statutory dues including Employees State Insurance, Income
Tax, Service Tax and any other statutory dues wherever applicable with
the appropriate authorities. According to the information and
explanation give to us, no undisputed arrears of statutory dues were
outstanding as at 31st March, 2012 for a period of more than six months
from the date they became payable.
b) According to the records of the Company there are no statutory dues,
which are outstanding on account of any dispute at the end of the year.
(x) The Company does not have accumulated losses at the end of the
financial year and has not incurred cash losses in the current or in
the immediately preceding financial year.
(xi) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not defaulted
in repayment of dues to any Financial Institution, Bank and the Company
does not have any borrowings by way of debentures.
(xii) The company has not granted any loans and advances on the basis
of security by way of pledge of Shares, Debentures and other
Securities.
(xiii) The provisions of any special statute applicable to chit funds/
nidhi/mutual benefits funds/society do not apply to the company.
(xiv) In our opinion, the Company is not a dealer or trader in Shares,
Securities, Debentures and other Investments.
(xv) According to the information and explanations given to us by the
management, the Company has not given any guarantee for loans taken by
others from banks or Financial Institutions.
(xvi) The Company is regular in re-payment of Principal amount of term
loan and interest due thereon.
(xvii) According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we report that
no funds raised on short-term basis have been used for long-term
investment.
(xviii) The Company has not made any allotment of equity Share on
preferential basis to body corporate.
(xix) The Company has not issued any debentures.
(xx) The Company has not raised any money by public issues during the
year.
(xxi) During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the company, noticed or reported during the year, nor
have we been informed of such case by the management.
For SANJAY S. AGRAWAL & CO.
Chartered Accountants,
Place : Nagpur F.R NO.116200W
Dated : 25/05/2012 Sd/-
(Dhiraj M. Moryani)
Partner
M. No. 129877
Mar 31, 2010
1. We have audited the attached Balance Sheet of M/S. LINKHOUSE
INDUSTRIES LIMITED., as at 31st MARCH, 2010 and its Profit & Loss
Account 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 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 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 the 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 as
Amended by Companies (Auditors Report) Order, 2004 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 para 4 and 5 of the said order.
4. 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 Accounts as required by law have
been kept by the Company, so far as appears from the examination of
such Books;
c) The Balance Sheet and the Profit and Loss Account dealt with by this
report are in agreement with the Books of Accounts of the Company;
d) In our opinion the Balance Sheet and the Profit & Loss Account dealt
with by this report comply with Accounting Standards referred to in
Sub-Section (3C) of Section 211 of the Companies Act, 1956.
e) On the basis of written representations received from the Directors,
as on 31st March, 2010 and taken on record by the Board of Directors,
we report that none of the Director is disqualified as on 31st 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;
f) In our opinion and to the best of our information and according to
the explanations given to us, the said statement of 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;
I) In the case of the Balance Sheet, of the State of affairs of the
Company as on 31st March, 2010 and
II) In the case of the Profit and Loss Account, of the Profit of the
Company for the year ended on that date.
ANNEXURE TO AUDITORS REPORT (As referred to in Paragraph 1 of our
report of Even Date)
(i) a) The company has generally maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) The management has physically verified all its fixed assets at
reasonable intervals and no material discrepancies were noticed on such
physical verification.
c) There was no substantial disposal of fixed assets during the year.
(ii) a)As per the information furnished, the management at reasonable
intervals during the year has physically verified the inventories.
b) In our opinion and according to the information and explanations
given to us, procedures of physical verification of inventory followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
c) In our opinion, the company is maintaining proper records of
inventory. The discrepancies noticed on physical verification of
inventory as compared to book records were not material and have been
properly dealt with in the books of account.
(iii) In our opinion and according to the information and explanations
given to us, the company has granted interest free unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. The terms and conditions
in the said respect are not prima-faice prejudicial to the interest of
the Company.
(iv) In our opinion and according to the information and explanation
given to us, there are generally adequate internal control procedures
commensurate with the size of the company and the nature of its
business for purchase of inventory and or fixed assets and for the sale
of goods. During the course of our audit no major weakness has been
noticed in these internal controls.
(v) a) According to the information and explanation given to us, we are
of the opinion that the transactions that need to be entered in the
register maintained under section 301 of the Companies Act, 1956 have
been so entered. b) In our opinion and according to the information
and explanation given to us, the transactions made in pursuance of
contracts or arrangements entered in the Register maintained under
Section 301 of the Companies Act, 1956 and exceeding the value of
rupees five lacs in respect of any party during the year, have been
made at prices which are reasonable, having regard to the prevailing
market prices at the relevant time.
(vi) In our opinion and according to the information and explanation
given to us, the Company has not accepted any deposit from the public
within the meaning of Section 58A and 58AA of the Companies Act, 1956
and the Companies (Acceptance of Deposits) Rules, 1975.
(vii) As per the information and explanation given to us, the Company
has an internal audit system commensurate to the size of the Company
and the nature of its business.
(viii) The Central Government has not prescribed maintenance of Cost
Records under Section 209(1) (d) of the Companies Act, 1956 in respect
of the Companys product.
(ix) a) According to the information and explanation given to us and
the records examined by us, the company is regular in depositing
undisputed statutory dues including Employees State Insurance, Income
Tax, Service Tax and any other statutory dues wherever applicable with
the appropriate authorities. According to the information and
explanation given to us, no undisputed arrears of statutory dues were
outstanding as at 31st March, 2010 for a period of more than six months
from the date they became payable.
b) According to the records of the Company there are no statutory dues,
which are outstanding on account of any dispute at the end of the year.
(x) The Company does not have accumulated losses at the end of the
financial year and has not incurred cash losses in the current or in
the immediately preceding financial year.
(xi) According to the records of the Company examined by us and the
information and explanations given to us, the company has not defaulted
in repayment of dues to any Financial Institution, Bank and the Company
does not have any borrowing by way of debentures.
(xii) The company has not granted any loans and advances on the basis
of security by way of pledge of Shares, Debentures and other
Securities.
(xiii) The provisions of any special statute applicable to chit funds/
nidhi/ mutual benefits funds/ society do not apply to the company.
(xiv) In our opinion, the Company is not a dealer or trader in Shares,
Securities, Debentures and other Investments.
(xv) According to the information and explanations given to us by the
management, the Company has not given any guarantee for loans taken by
others from Banks or Financial Institutions.
(xvi) The Company is regular in re-payment of Principal amount of term
loan and interest due thereon.
(xvii) According to the information and explanations given to us and on
overall examination of the balance sheet of the Company, we report that
no funds raised on short-term basis have been used for long-term
investment.
(xviii) The Company has not made any allotment of equity Share on
preferential basis to body corporate.
(xix) The Company has not issued any debentures.
(xx) The Company has not raised any money by public issues during the
year.
(xxi) During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the company, noticed or reported during the year, nor
have we been informed of such case by the management.
PLACE: NAGPUR For M/s. Sanjay S. Agrawal & Co.,
DATE: 31/05/2010. Chartered Accountants
DHIRAJ M. MORYANI
PARTNER
M. No.: 129877
Mar 31, 2009
1. We have audited the attached Balance Sheet of M/S. LINKHOUSE
INDUSTRIES LTD., as at 31s1 MARCH, 2009 and its Profit and Loss Account
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 the 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), Orders 2003 as
amended by Companies (Auditors Report), Orders 2004 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 Para 4 and 5 of the said order.
4. 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
ourAudit;
b) In our opinion the proper Books of Accounts as required by law have
been kept by the company so far as appears from the examination of such
books;
c) The Balance Sheet and the Profit & Loss Account dealt with by this
report are in agreement with the Books of Account of the company.
d) In our opinion the Balance Sheet and Profit & LossAccountdealtwith
by this report comply with Accounting Standards referred to in
Sub-Section (3C) of Section 211 of the Companies Act, 1956.
e) On the basis of written representations received from the Directors,
as on 31 st March, 2009 and taken on record by the Board of Directors
we report that none of the Directors is disqualified as on 31 st March,
2009 from being appointed as a Director in terms of clause (g) of
sub-section (1) of section 274 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 statment of account 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;
i) In the case of the Balance Sheet of the State of affairs of the
Company as at 31 st March, 2009 and
ii) In the case of the Profit and Loss Account of the Profit of the
Company for the year ended on that date.
ANNEXURE TO AUDITORS REPORT (As referred to in Paragraph 1 of our
report of Even Date)
(i) a) The company has generally maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) The management has physically verified all its fixed assets at
reasonable intervals and no material discrepancies were noticed on such
physical verification.
c) There was no substantial disposal of fixed assets during the year.
(ii) a) As per the information furnished, the inventories the
management at reasonable intervals during the year has physically
verified the inventories.
b) In our opinion and according to the information and explanation
given to us, procedures of physical verification of inventory followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
c) In our opinion, the company is maintaining proper records of
inventory. The discrepancies noticed on physical verification of
inventory as compared to book record were not material and have been
properly dealt with in the books of account.
(iii) In our opinion and according to the information and explanations
given to us, the company has granted interest free unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. The terms and onditions
in the said respect are not prima-faice prejudicial to the interest of
the Company.
(iv) In our opinion and according to the information and explanations
given to us; there are generally adequate internal control procedures
commensurate with the size of the company and the nature of its
business for purchase of inventory and or fixed assets and for the sale
of goods. During the course of our audit no major weakness has been
noticed in these internal controls.
(v) a) According to the information and explanation given to us, we are
of the opinion that the transactions that need to be entered in the
Register maintained under section 301 of the Companies Act, 1956 have
been so entered.
b) In our opinion and according to the information and explanation
given to us, the transactions made in pursuance of contracts or
arrangements entered in the Register maintained under Section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lacs in
respect of any party during the year, have been made at prices which
are reasonable having regard to the prevailing market prices at the
relevant time.
(vi) In our opinion and according to the information and explanation
given to us, the Company has not accepted any deposit from the public
within the meaning of Section 58Aand 58AAof the Companies Act, 1956 and
the Companies (Acceptance of Deposits) Rules, 1975.
(vii) As per the information and explanation given to us, the Company
has an internal audit system commensurate to the size of the Company
and the nature of its business.
(viii) The Central Government has not prescribed maintenance of Cost
Records under Section 209(1) (d) of the Companies Act, 1956 in respect
of the companys product.
(ix) a) According to the information and explanation given to us and
the records examined by us, the company is regular in depositing
undisputed statutory dues including Employees State Insurance, Income
Tax, service tax and any other statutory dues wherever applicable with
the appropriate authorities. According to the information and
explanation given to us, no undisputed arrears of statutory dues were
outstanding as at 31st March, 2009 for a period of more than six months
from the date they became payable.
b) According to the records of the Company there are no statutory dues,
which are outstanding on account of any dispute at the end of the year.
(x) The Company does not have accumulated losses at the end of the
financial year and has not incurred cash losses in the current or in
the immediately preceding financial year.
(xi) According to the records of the Company examined by us and the
information and explanation given to us, the company has not defaulted
in repayment of dues to any Financial Institution, Banks and the
Company does not have any borrowings by way of debentures.
(xii) The company has not granted any loans and advances on the basis
of security by way of pledge of Shares, Debentures and other
Securities.
(xiii) The provisions of any special statute applicable to chit funds/
nidhi/ mutual benefits funds/ society do not apply to the company.
(xiv) In our opinion, the Company is not a dealer or trader in Shares,
Securities, Debentures and other Investments.
(xv) According to the information and explanations given to us by the
management, the company has not given any guarantee for loans taken by
others from banks or financial institutions.
(xvi) The Company is regular in re-payment of Principal amount of term
loan and interest due thereon.
(xvii) According to the information and explanations given to us and on
overall examination of the balance sheet of the company, we report that
no funds raised on short-term basis have been used for long-term
investment.
(xviii) The Company has not made any allotment of equity Share on
preferential basis to body corporate.
(xix) The company has not issued any debentures.
(xx) The Company has not raised any money by public issues during the
year.
(xxi) During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the company, noticed or reported during the year, nor
have we been informed of such case by the management.
Place: Nagpur FOR AGRAWAL & MORYANI,
Dated: 30.06.2009. CHARTERED ACCOUNTANTS
Dhiraj M. Moryani
Partner
Mar 31, 2008
We have audited the attached Balance Sheet of M/S. LINKHOUSE INDUSTRIES
LTD., as at 31st MARCH, 2008 and also the Profit & Loss Account 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.
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.
As required by the Companies (Auditors) Report, 2003 (Amended) Order,
2004 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 & 5 of
the said order.
Furtherto our comments in the Annexure referred above, we report that:
1) We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
Audit;
2) In our opinion, proper books of accounts as required by law have
been kept by the company so far as it appears from our examination of
the books;
3) The Balance Sheet and the Profit & Loss Account dealt with by this
report are in agreement with the Books of Accounts;
4) In our opinion, Balance Sheet and the Profit and Loss Account dealt
with by this report comply with the Accounting Standards referred to in
Sub-Section (3C) of Section 211 of the Companies Act, 1956 (AS-22).
5) On the basis of written representations received from the Directors,
as on 31st March, 2008 taken on record by the Board of Directors we
report that none of the Directors are disqualified as on 31 st March,
2008 from being appointed as a Director in terms of clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956;
6) In our opinion and 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;
I) In the case of the Balance Sheet of the State of affairs of the
Company as at 31st March, 2008 and ii) In the case of the Profit and
Loss Account of the Profit of the Company forthe year ended on that
date.
ANNEXURE TO THE AUDITORS REPORT
(As referred to in Paragraph 1 of our report of Event Date)
(I) a) The company has generally maintained proper records showing full
particulars, including quantitative details and situation of
fixed assets.
b) The management has physically verified all its fixed assets at
reasonable intervals and no material discrepancies were noticed on such
physical verification.
c) There was no substantial disposal of fixed assets during the year.
(ii) a) As per the information furnished, the inventories have been
physically verified by the management at reasonable intervals during
the year.
b) In our opinion and according to the information and explanations
given to us, procedures of physical verification of inventory followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
c) In our opinion, the company is maintaining proper records of
inventory. The discrepancies noticed on physical verif i cati o n of
inventory as compared to book records were not material and have been
properly dealt with in the books of account.
(iii) In our opinion and according to the information and explanations
given to us, the company has granted interest free unsecured loans to
companies, firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956. The terms and conditions
in the said respect are not prima-faice prejudicial to the interest of
the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are generally adequate internal control procedures
commensurate with the size of the company and the nature of its
business for purchase of inventory and fixed assets and for the sale of
goods. During the course of our audit no major weakness has been
noticed in these internal controls.
(v) a) According to the information and explanations given to us, we
are of the opinion that the transactions that need to be entered in the
Register maintained under section 301 of the Companies Act, 1956 have
been so entered.
b) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements entered in the Register maintained under Section 301 of
the Companies Act, 1956 and exceeding the value of rupees five lacs in
respect of any party during the year, have been made at prices which
are reasonable having regard to the prevailing market prices at the
relevant time.
(vi) In our opinion and according to the information and explanations
given to us, the Company has not accepted any deposit from the public
within the meaning of Section 58A and 58AA of the Companies Act, 1956
and the Companies (Acceptance of Deposits) Rules, 1975.
(vii) As perthe information and explanation given to us, the Company
has an internal audit system commensurate to the size of the Company
and the nature of its business.
(viii) The Central Government has not prescribed maintenance of Cost
Records under Section 209(1 )(d) of the Companies Act, 1956 in respect
of the companys product.
(ix) a) According to the information and explanations given to us and
the records examined by us, the company is regular in depositing
undisputed statutory dues including Employees State Insurance, Income
Tax, service tax and any other statutory dues wherever - applicable
with the appropriate authorities. According to the informatiun and
explanations given to us, no undisputed arrears of statutory dues were
outstanding as at 31 st March, 2008 for a period of more than six
months from the date they became payable. b) According to the records
of the Company there are no statutory dues, which are outstanding on
account of any dispute at the end of the year.
(x) The Company does not have accumulated losses at the end of the
financial year and has not incurred cash losses in the current or in
the immediately preceding financial year.
(xi) According to the records of the Company examined by us and the
information and explanations given to us, the company has not defaulted
in repayment of dues to any Financial Institution and Bank and the
Company does not have any borrowings by way of debentures.
(xii) The company has not granted any loans and advances on the basis
of security by way of pledge of Shares, Debentures and other ^^
Securities.
(xiii) The provisions of any special statute applicable to chit funds/
nidhi/ mutual benefits funds/ society do not apply to the company.
(xiv) In our opinion, the Company is not a dealer ortrader in Shares,
Securities, Debentures and other Investments.
(xv) According to the information and explanations given to us by the
management, the company has not given any guarantee for loans taken by
others from banks or financial institutions.
(xvi) The Company is regular in repayment of principal amount of term
loan Installment and Interest due thereon.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that no funds raised on short-term basis have been used for long-term
investment and vice versa.
(xviii) The Company has not made any allotment of equity Share on
preferential basis to body corporate.
(xix) The company has not issued any debentures.
(xx) The Company has not raised any money by public issues during the
year.
(xxi) During the course of our examination of the books and records of
the company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
fraud on or by the company, noticed or reported during the year, nor
have we been informed of such case by the management.
FOR ANAND DESHPANDE & CO.,
CHARTERED ACCOUNTANTS
Under The Hand Of Place:
NAGPUR A. V DESHPANDE
Date: 30-06-2008. PROPRIETOR
Mar 31, 2000
We have audited the attached Balance sheet of LINKHOUSE INDUSTRIES
LTD., NAGPUR as on 31st MARCH, 2000 and also the Profit & Loss Account
of the Company for the year- ended 31st MARCH, 2000 annexed thereto and
report that :
1. As required by the Manufacturing and Other Companies (Auditors
Report) Order, 1988 issued by the Company Law Board in terms of Section
227 (4A) of the Companies Act, 1956, we enclose in the annexure , a
statement on the matters specified in para- graphs 4 and 5 of the said
Order :
2. Further to our comments in the annexure referred to in paragraph 1
above :
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 examinatation of
such books.
c) The Balance Sheet and the Profit & Loss Account dealt with by this
report are in agreement with the books of account.
d) In our opinion,the Profit & Loss Account & Balance Sheet complies
with the accounting standards referred to in sub-section 3(c) of
Section 211 of Companies Act, 1956 as ammended.
e) In our opinion and to the best of our information and according to
the explanations given to us, the accounts give the information
required by the Companies Act, 1956 in the manner so required and give
a true and fair view :
i] In case of the Balance Sheet, of the State of affairs of the Company
as on 31st MARCH, 2000 and
ii] In case of the Profit & Loss Account, the profit for the year ended
on 31st MARCH, 2000.
ANNEXURE TO AUDITORS REPORT
ANNEXURE REFERRED TO IN PARAGRAPH 1 OF THE REPORT OF EVEN DATE OF THE
AUDITORS ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2000.
In our opinion, on the information and explanations furnished to us and
such checks as we considered appropriate in the normal course of audit,
and to the best of our knowledge and belief, we further report that:-
1. The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets. All these
assets have been physically verified by the management during the year
and no material discrepancies have been noticed on such verification.
2. None of the fixed assets of the Company have been revalued during
the year.
3. The work in progress & materials have been physically verified by
the management at reasonable intervals. In our opinion the frequency of
verification is reasonable.
4. The procedure of physica1 verification of stocks followed by the
management are, in our opinion, reasonable and adequate in relation to
the size of the company and the nature of its business.
5. No* material descrepancies have been noticed by management on
physical verification of stocks as compared to book records.
6. In our opinion and on the basis of out examination, the valuation
of work in progress and the stock of building material is fair & proper
and is in accordance with the normally accepted accounting principles
and is on the same basis as in the preceeding year.
7. The Terms and conditions of interest free loans taken by the
Company from companies, firms or other parties listed in the register
maintained under Section 301 and 370(1-C) of the Companies Act, 1956,
are in our opinion, prima facie, not prejudicial to the internal of the
Company.
8. The rates of interest and other terms and conditions of the loans
given by the company to companies, firms and other parties listed in
the register maintained under Section 301 and 370 (1-C) of the
Companies Act, 1956 are in our opinion, prima facie, not prejudicial to
the interest of the Company.
9. The parties to whom the loans or advances in the nature of loans
have been given by the company are repaying the principal amounts as
stipulated and are also regular in payment of interest, wherever
applicable.
10. There is an adequate internal control procedure commensurate with
the size of the company and the nature of its business, for the
purchase of fixed assets, building materials, plants & machinery,
equipments & other assets.
11. In our opinion the transaction of purchase of materials and sale
made in pursuance of contracts of arrangements entered in the parties
listed in the register maintained u/s 301 of the Companies Act, 1956
and aggregating during the year Rs. 50,000/- or more in respect of
each party, have been made at prices, which in our opinion are
reasonable having regard to prevailing market price for such materials,
land or the properties or the prices at which transactions for similar-
materials have been made with other parties.
12. As explained to us, there are no unserviceable or damaged goods.
13. The company has no substiantial realisable; by-products or scraps.
14. The company has an adequate internal audit system commensurate
with its size and nature of its business.
15. The Central Government has not prescribed the maintenance of cost
records for the company under section 209(1) (d) of the Companies Act,
1956 for its product.
16. The Company is generally regular in depositing provident fund and
employees insurance dues with the appropriate authorities.
17. As at 31st March, 1999, there were no undisputed amounts
outstanding in respect of Income Tax, Wealth Tax, Custom Duty and
Excise Duty for more than 6 months from the date those became payable.
18. During the course of our examination of the books of Account
carried out in accordance with the generally accepted auditing
practices, we have neither come across any personal expense other than
those paid under contractual obligations and/or in accordance with
generally accepted business practices, which has been charged to Profit
and Loss Account, nor we have been informed of any such case by the
Management.
19. The Company is not a Sick Industrial Company within the meaning of
Clause (0) of section 3(1) of the Sick Industrial Companies (Special
Provision) Act, 1985.
20. The Company has a reasonable system of recording receipts, issues
and consumption of materials & stores & allocating materials consumed
to the relative jobs commensurate with its size and nature of its
business.
21. The Company has a reasonable system of allocating man-hours
utilized to the relative jobs, commensurate with its size and nature of
business.
22. There is a reasonable system of authorization at proper levels and
an adequate system of internal control commensurate with the size of
Company & nature of its business on issue of materials & allocation of
materials & labour to jobs.
23. It is noted that in the last financial year (1998-99). Dividend
although recommended by the Board was not approved by the Members of
the company at its Annual General Meeting. Hence this necessary entries
are made in the books of accounts.
24. Rest of the provisions of the order are not applicable.
FOR DEMBLE RAMANI & CO.
CHARTERED ACC0UNTANTS
(NARAYAN DEMBLE)
PARTNER
PLACE : NAGPUR
DATED : 24.08.2000