Mar 31, 2013
1. We have audited the attached Balance Sheet of LINKSON INTERNATIONAL
LIMITED as at 31st March, 2013, and also the 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 from material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosure 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 section 227(4A) of the
Companies Act, 1956, we enclose in the Annexure'' a statement on the
matters specified in paragraphs 4 & 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 account as required by law have been
kept by the Company, so far as it appears from our examination of such
books.
c) The Balance Sheet and Profit & Loss Account dealt with by this
report are in agreement with the books of account.
d) In our opinion, the Balance Sheet, Profit & 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.
e) On the basis of written representation received from the Directors,
as on 31st March, 2013 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2013 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 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 so far as it relates to the Balance Sheet of the state of affairs
of the Company as at 31st March, 2013, and
ii) In so far as it relates to the Profit and Loss Account, of the
profit for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 of AUDITOR''S REPORT TO THE MEMBERS
OF LINKSON INTERNATIONAL LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED 3
1st MARCH, 2013
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets of the Company are physically verified by the
management during the year in a phased periodical manner designed to
cover all the items over a period of two years, which is in our opinion
is reasonable, having regard to the size of the company and nature of
the assets. No material discrepancies were noticed during such
verification performed during the year.
(c) In our opinion and according to the information and explanations
given to us, no substantial parts of the Fixed Assets of the company
have been disposed off during the year.
(ii) (a) The inventory has been physically verified by the management
during the year at reasonable intervals.
(b) In our opinion, the procedures of physical verification of
inventories followed by the Management are reasonable and adequate in
relation to the size of the company and the nature of its business.
(c) The company is maintaining proper records of inventory. There were
no material discrepancies noted on physical verification of inventories
as compared to the book records.
(iii) (a) During the current financial year, the company has taken
unsecured loans aggregating to Rs 15.06 Crores from parties (Directors
& relatives of directors), which are the parties covered in the
register maintained under section 301 of the Companies Act, 1956.
Company has repaid the amount Rs. 14.65 Crores during the Financial
Year.
(b) The rate of interest and other terms and conditions of loans given
or taken by the company, secured or unsecured, are prima facie not
prejudicial to the interest of the company.
(c) As far as the payment of the principal & interest is concerned, no
fixed schedule of the same has been decided and the same is paid as per
mutual understanding.
(iv) In our opinion and according to the information and explanation
given to us, there are adequate Internal Control Procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale of goods and there is no continuing failure to correct major
weakness in the internal control.
(v) (a) In our opinion and according to the information and explanation
given to us, we are of the opinion that the transactions that needed to
be entered into 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 each party during the year have been made at prices which
are reasonable.
(vi) In our opinion and according to the information and explanation
given to us, the company has not accepted deposits under the provision
of Section 58A and 58AA of the Companies Act, 1956, except for
unsecured loans from outsiders, which is repaid on a regular basis.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under Section 209 (1) (d) of the Companies
Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues wherever applicable. There are no
dues, in our opinion, in respect of Income tax, Wealth tax, sales tax,
vat, custom duty, excise duty and cess that have not been deposited on
account of any dispute as per the information and explanation provided
to us by the management of the company.
(b) There is no dispute pending on any forum in case of statutory dues
like sales tax, VAT, income tax/customs tax etc.
(x) The company does not have accumulated losses at the end of the
financial year nor has it incurred any cash losses during the year.
(xi) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to a financial
institution or a bank or debenture holders.
(xii) According to the information and explanations given to us, the
company has not granted any loans or advances on .the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) The company is not a Chit Fund, or a Nidhi / Mutual benefit Fund
/ society. Therefore, the provisions of clause 4(xiii) of the Companies
(Auditor''s Report) Order 2003 are not applicable to the Company.
(xiv) The company is not dealing in or trading in shares, securities
debentures and other investments and accordingly the provisions of
clause 4(xiv) of the Companies (Auditor''s Report) Order 2003 is not
applicable to the Company.
(xv) The Company has not given any guarantee for loans taken by others
from Bank or financial institutions.
(xvi) As the Company has not raised any fresh term loan during the
financial year, the requirement as para 4(xvi) of the said order is not
applicable.
(xvii)According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we find
that no funds raised on short term basis have been used for the long
term investmen
(xviii) The company has not made preferential allotment of shares to
parties and companies covered in the Register maintained under section
301 and hence para 4(xviii) of the order is not applicable
(xix) As the Company has not issued any debentures during the year,
para 4 (xix) of the order is not applicable.
(xx) The company has not raised any money by way of public issues
during the year under our audit.
(xxi) On the basis of our examination and 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 V.V. Saranjame & Associates
Chartered Accountants
(CA V.V/Saranjame)
Partner
Membership No. 33584
Firm Registration No. 109255W
PLACE: Mumbai
DATE: 30/05/2013
Mar 31, 2012
1. We have audited the attached Balance Sheet of LINKSON INTERNATIONAL
LIMITED as at 31st March, 2012, and also the 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 from material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosure 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 section 227(4A) of the
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraphs 4 & 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 necessaiy 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 such
books.
c) The Balance Sheet and Profit & Loss Account dealt with by this
report are in agreement with the books of account.
d) In our opinion, the Balance Sheet, Profit & 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.
e) On the basis of written representation received from the Directors,
as on 31st March, 2012 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2012 from being appointed as a Director in terms of Clause (g) of
sub-section (1) of Section 274 of the Companies Act, 1956.
f) 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 so far as it relates to the Balance Sheet of the state of affairs
of the Company as at 31st March, 2012, and
ii) In so far as it relates to the Profit and Loss Account, of the
profit for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 of AUDITOR''S REPORT TO THE
MEMBERS OF L1NKSON INTERNATIONAL LIMITED ON THE ACCOUNTS FOR THE YEAR
ENDED 31st MARCH, 2012
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets of the Company are physically verified by the
management during the year in a phased periodical manner designed to
cover all the items over a period of two years, which is in our opinion
is reasonable, having regard to the size of the company and nature of
the assets. No material discrepancies were noticed during such
verification performed during the year.
(c) In our opinion and according to the information and explanations
given to us, no substantial parts of the Fixed Assets of the company
have been disposed off during the year.
(ii) (a) The inventory has been physically verified by the management
during the year at reasonable intervals.
(b) In our opinion, the procedures of physical verification of
inventories followed by the Management are reasonable and adequate in
relation to the size of the company and the nature of its business.
(c) The company is maintaining proper records of inventory. There were
no material discrepancies noted on physical verification of inventories
as compared to the book records.
(iii) (a) During the current financial year, the company has taken
unsecured loans aggregating to - Rs 936 lacs from parties (Directors &
relatives of directors), which are the parties covered in the register
maintained under section 301 of the Companies Act, 1956.
Company has repaid the amount of Rs. 188 lacs during the Financial
Year.
(b) The rate of interest and other terms and conditions of loans given
or taken by the company, secured or unsecured, are primci facie not
prejudicial to the interest of the company.
(c) As far as the payment of the principal & interest is concerned, no
fixed schedule of the same has been decided and the same is paid as per
mutual understanding.
(iv) In our opinion and according to the information and explanation
given to us, there are adequate Internal Control Procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale of goods and there is no continuing failure to correct major
weakness in the internal control.
(v) (a) In our opinion and according to the information and explanation
given to us, we are of the opinion that the transactions that needed to
be entered into 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 each party during the year have been made at prices which
are reasonable.
(vi) In our opinion and according to the information and explanation
given to us, the company has not accepted deposits under the provision
of Section 58A and 58AA of the Companies Act, 1956, except for
unsecured loans from outsiders, which is repaid on a regular basis.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under Section 209 (1) (d) of the Companies
Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues wherever applicable. There are no
dues, in our opinion, in respect of Income tax, Wealth tax, sales tax,
custom duty, excise duty and cess that have not been deposited on
account of any dispute as per the information and explanation provided
to us by the management of the company.
(b) There is no dispute pending on any forum in case of statutory dues
like sales tax, VAT, income tax/customs tax etc.
(x) The company does not have accumulated losses at the end of the
financial year nor has it incurred any cash losses during the year.
(xi) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to a financial
institution or a bank or debenture holders.
(xii) According to the information and explanations given to us, the
company has not granted any loans or advances on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) The company is not a Chit Fund, or a Nidhi / Mutual benefit Fund
/ society. Therefore, the provisions of clause 4(xiii) of the Companies
(Auditor''s Report) Order 2003 are not applicable to the Company.
(xiv) The company is not dealing in or trading in shares, securities
debentures and other investments and accordingly the provisions of
clause 4(xiv) of the Companies (Auditor''s Report) Order 2003 is not
applicable to the Company.
(xv) The Company has not given any guarantee for loans taken by others
from Bank or financial institutions.
(xvi) As the Company has not raised any fresh term loan during the
financial year, the requirement as para 4(xvi) of the said order is not
applicable.
(xvii)According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we find
that no funds raised on short term basis have been used for the long
term investment.
(xviii) The company has not made preferential allotment of shares to
parties and companies covered in the Register maintained under section
301 and hence para 4(xviii) of the order is not applicable
(xix) As the Company has not issued any debentures during the year,
para 4 (xix) of the order is not applicable.
(xx) The company has not raised any money by way of public issues
during the year under our audit.
(xxi) On the basis of our examination and 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 M.V. Saranjame & Associates
Chartered Accountants
(CA V.V. Saranjame)
Partner
Membership No. 33584
Firm Registration No. 109255W
PLACE: Mumbai
DATE: 01/09/2012
Mar 31, 2011
1. We have audited the attached Balance Sheet of LINKSON INTERNATIONAL
LIMITED as at 31st March, 2011, and also the 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 from material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosure 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 section 227(4A) of the
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraphs 4 & 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 account as required by law have been
kept by the Company, so far as it appears from our examination of such
books.
c) The Balance Sheet and Profit & Loss Account dealt with by this
report are in agreement with the books of account.
d) In our opinion, the Balance Sheet, Profit & 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.
e) On the basis of written representation received from the Directors,
as on 31st March, 2011 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st March,
2011 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 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 so far as it relates to the Balance Sheet of the state of affairs
of the Company as at 31st March, 2011, and
ii) In so far as it relates to the Profit and Loss Account, of the
profit for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 of AUDITOR'S REPORT TO THE MEMBERS
OF LINKSON INTERNATIONAL LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED
31ST MARCH, 2011
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets of the Company are physically verified by the
management during the year in a phased periodical manner designed to
cover all the items over a period of two years, which is in our opinion
is reasonable, having regard to the size of the company and nature of
the assets. No material discrepancies were noticed during such
verification performed ' during the year.
(c) In our opinion and according to the information and explanations
given to us, no substantial parts of the Fixed Assets of the company
have been disposed off during the year.
(ii) (a) The inventory has been physically verified by the management
during the year at reasonable intervals.
(b) In our opinion, the procedures of physical verification of
inventories followed by the Management are reasonable and adequate in
relation to the size of the company and the nature of its business.
(c) The company is maintaining proper records of inventory. There were
no material discrepancies noted on physical verification of inventories
as compared to the book records.
(iii) (a) During the current financial year, the company has taken
unsecured loans aggregating to Rs.7,13,74,219.00/- from five parties
(Directors & relatives of directors), which are the parties covered in
the register maintained under section 301 of the Companies Act, 1956.
Company has repaid the amount of Rs.2,53,74,219.00/-during the
Financial Year.
(b) The rate of interest and other terms and conditions of loans given
or taken by the company , secured or unsecured, are prima facie not
prejudicial to the interest of the company.
(c) As far as the payment of the principal & interest is concerned, no
fixed schedule of the same has been decided and the same is paid as per
mutual understanding.
(iv) In our opinion and according to the information and explanation
given to us, there are adequate Internal Control Procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale of goods and there is no continuing failure to correct major
weakness in the internal control.
(v) (a) In our opinion and according to the information and explanation
given to us, we are of the opinion that the transactions that needed to
be entered into 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
ANNEXURE REFERRED TO IN PARAGRAPH 3 of AUDITOR'S REPORT TO THE MEMBERS
OF LINKSON INTERNATIONAL LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED 3
1st MARCH, 2011
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets of the Company are physically verified by the
management during the year in a phased periodical manner designed to
cover all the items over a period of two years, which is in our opinion
is reasonable, having regard to the size of the company and nature of
the assets. No material discrepancies' were noticed during such
verification performed during the year.
(c) In our opinion and according to the information and explanations
given to us, no substantial parts of the Fixed Assets of the company
have been disposed off during the year.
(ii) (a) The inventory has been physically verified by the management
during the year at reasonable intervals.
(b) In our opinion, the procedures of physical verification of
inventories followed by the Management are reasonable and adequate in
relation to the size of the company and the nature of its business.
(c) The company is maintaining proper records of inventory. There were
no material discrepancies noted on physical verification of inventories
as compared to the book records.
(iii) (a) During the current financial year, the company has taken
unsecured loans aggregating to Rs.7,13,74,219.00/- from five parties
(Directors & relatives of directors), which are the parties covered in
the register maintained under section 301 of the Companies Act, 1956.
Company has repaid the amount of Rs.2,53,74,219.00/- during the
Financial Year.
(b) The rate of interest and other terms and conditions of loans given
or taken by the company, secured or unsecured, are prima facie
not/prejudicial to the interest of the company.
(c) As far as the payment of the principal & interest is concerned, no
fixed schedule of the same has been decided and the same is paid as per
mutual understanding.
(iv) In our opinion and according to the information and explanation
given to us, there are adequate Internal Control Procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale of goods and there is no continuing failure to correct major
weakness in the internal control.
(v) (a) In our opinion and according to the information and explanation
given to us, we are of the opinion that the transactions that needed to
be entered into 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 lakhs in
respect of each party during the year have been made at prices which
are reasonable.
(vi) In our opinion and according to the information and explanation
given to us, the company has not accepted deposits under the provision
Of Section 58A and 58AA of the Companies Act, 1956, except for
unsecured loans from outsiders, which is repaid on a regular basis.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under Section 209 (1) (d) of the Companies
Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues wherever applicable. There are no
dues, in our opinion, in respect of Income tax, Wealth tax, sales tax,
VAT, custom duty, excise duty and cess that have not been deposited On
account of any dispute as per the information and explanation provided
to us by the management of the company.
(b) There is no dispute pending on any forum in case of statutory dues
like sales tax, VAT, Income tax/customs tax etc.
(x) The company does not have accumulated losses at the end of the
financial year nor has it incurred any cash losses during the year. '
(xi) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to a financial
institution or a bank or debenture holders.
(xii) According to the information and explanations given to us, the
company has not granted any loans or advances on the basis of security
by way of pledge of shares, debentures arid other securities.
(xiii) The company is not a Chit Fund, or a Nidhi /Mutual benefit Fund
/ society. Therefore, the provisions of clause 4(xiii) of the Companies
(Auditor's Report) Order 2003 are not applicable to the Company.
(xiv) The company is not dealing in or trading in shares, securities
debentures and other investments and accordingly the provisions of
clause 4(xiv) of the Companies (Auditor's Report) Order 2003 is not
applicable to the Company.
(xv) The Company has not given any guarantee for loans taken by others
from Bank or financial institutions.
(xvi) As the Company has not raised any fresh term loan during the
financial year, the requirement as Para 4(xvi)of the said order is not
applicable. ës
(xvii)According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we find
that no funds raised on short term basis have been used for the long
term investment.
(xviii) The company has made preferential allotment of shares to Lyra
housing and finance pvt. Ltd. which is a party covered in the Register
maintained under section 301 of the companies act, 1956. t ,48,000
equity shares have been allotted to it at the price of Rs.95 per share.
(xix) As the Company has not issued any debentures during the year,
Para 4 (xix) of the order is not applicable.
(xx) The company has not raised any money by way of public issues
during the year under our audit.
(xxi) On the basis of our examination and 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 VvV. Saranjame & Associates
Chaimred Accountants
PLACE: Muntbai CA.V.V SaranJame)
DATE: 30/5/2011 Partner
Membership No. 33584
Firm registration No. 109255W
Mar 31, 2010
1. We have audited the attached Balance Sheet of LINKSON INTERNATIONAL
LIMITED as at 31st March, 2010, and also the 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 have 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 from material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosure in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of section 227(4A) of the
Companies Act. 1956. we enclose in the Annexure a statement on the
matters specified in paragraphs 4 & 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 account as required by law have been
kept by the Company, so far as it appears from our examination of such
books.
c) The Balance Sheet and Profit & Loss Account dealt with by this
report are in agreement with the books of account.
d) In our opinion, the Balance Sheet, Profit & 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.
e) On the basis of written representation received from the Directors,
as on 31st March, 2010 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 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 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 so far as it relates to the Balance Sheet of the state of affairs
of the Company as at 31st March, 2010, and
ii) In so far as it relates to the Profit and Loss Account, of the
profit for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 of AUDITORS REPORT TO THE MEMBERS
OF LINKSON INTERNATIONAL LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED
31st MARCH, 2010
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets of the Company are physically verified by the
management during the year in a phased periodical manner designed to
cover all the items over a period of three years, which in our opinion
is reasonable, having regard to the size of the company and nature of
the assets. No material discrepancies were noticed during such
verification performed during the year.
(c) In our opinion and according to the information and explanations
given to us, no substantial part of the Fixed Assets of the company has
been disposed off during the year.
(ii) (a) The inventory has been physically verified by the management
during the year at reasonable intervals.
(b) In our opinion, the procedures of physical verification of
inventories followed by the Management are reasonable and adequate in
relation to the size of the company and the nature of its business.
(c) The company is maintaining proper records of inventory. There were
no material discrepancies noted on physical verification of inventories
as compared to the book records.
(iii) (a) During the current financial year, the company has not taken
unsecured loans from parties. which are the companies, firms or other
parties covered in the register maintained under section 301 of the
Companies Act, 1956.
(b) Company has not taken any unsecured loans during the year. Hence,
not applicable.
(c) As far as the payment of the principal & interest is concerned, no
fixed schedule of the same has been decided and the same is paid
as per mutual understanding.
(iv) In our opinion and according to the information and explanation
given to us. there are adequate Internal Control Procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale of goods and there is no continuing failure to correct major
weakness in the internal control.
(v) (a) In our opinion and according to the information and explanation
given to us, we are of the opinion that the transactions that needed to
be entered into 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 lakhs
in respect of each party during the year have been made at prices which
are reasonable.
(vi) In our opinion and according to the information and explanation
given to us, the company has not accepted deposits under the provision
of Section 58A and 58AA.of the Companies Act. 1956, except for
unsecured loans from outsiders, which is repaid on a regular basis.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under Section 209 (1) (d) of the Companies
Act, 1956.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues wherever applicable. There are no
dues, in our opinion, in respect of Income tax, Wealth tax, sales tax,
custom duty, excise duty and cess that have not been deposited on
account of any dispute as per the information and explanation provided
to us by the management of the company.
(b) There is no dispute pending on any forum in case of statutory dues
like sales tax/income tax/customs tax etc.
(x) The company does not have accumulated losses at the end of the
financial year nor has it incurred any cash losses during the year.
(xi) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to a financial
institution or a bank or debenture holders. -
(xii) According to the information and explanations given to us, the
company has not granted any loans or advances on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) The company is not a Chit Fund, or a Nidhi / Mutual benefit Fund
/ society. Therefore, the provisions of clause 4(xiii) of the Companies
(Auditors Report) Order 2003 are not applicable to the Company.
(xiv) The company is not dealing in or trading in shares, securities
debentures and other investments and accordingly the provisions of
clause 4(xiv) of the Companies (Auditors Report) Order 2003 is not
applicable to the Company.
(xv) The Company has not given any guarantee for loans taken by others
from Bank or financial institutions.
(xvi) As the Company has not raised any fresh term loan during the
financial year, the requirement as para 4(xvi) of the said order is not
applicable.
(xvii)According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we find
that no funds raised on short term basis have been used for the long
term investment.
(xviii) The company has not made any preferential allotment of shares
to parties and Companies covered in the Register maintained under
section 301 and hence para 4(xviii) of the order is not applicable.
(xix) As the Company has not issued any debentures during the year,
para 4 (xix) of the order is not applicable.
(xx) The company has not raised any money by way of public issues
during the year under our audit.
(xxi) On the basis of our examination and 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 V.V. Saranjame & Associates
Chartered Accountants
(C A V.V. Saranjame)
Partner
Membership No. 33584
Firm Registration No. 109255W
PLACE: Murabai
DATE: 29/5/2010
Mar 31, 2009
1. We have audited the attached Balance Sheet of LINKSON INTERNATIONAL
LIMITED as at 31st March, 2009, and also the 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 the auditing standards
generally accepted in India. Those standards require chat we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free from material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosure in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of section 227(4A) of the
Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraphs 4 & 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 necessarv 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 such
books.
c) The Balance Sheer and Profit & Loss Account dealt with by this
report are in agreement with the books of account.
d) In our opinion, the Balance Sheet," Profit & 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.
e) On the basis of written representation received from the Directors,
as on 31st March, 2009 and taken on record by the Board of Directors,
we report that none of the Directors is disqualified as on 31st 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 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:
1) In so far as it relates to the Balance Sheet of the state of affairs
of the Company as at 31st March, 2009, and
u) In so far as it relates to the Profit and Loss Account, of the
profit for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 of AUDITORS REPORT TO THE MEMBERS
OF LINKSON INTERNATIONAL LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED
31st MARCH. 2009
(i) (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets of the Company are physically verified by the
management during the year in a phased periodical manner designed to
cover all the items over a period of three years, which is in our
opinion is reasonable, having regard to the size of the company and
nature of the assets. No material discrepancies were noticed during
such verification performed during the year.
(c) In our opinion and according to the information and explanations
given to us, no substantial pan of the Fixed Assets of the company has
been disposed off during the year.
(ii)(a) The inventory has been physically verified by the management
during the year at reasonable intervals.
(b) In our opinion, the procedures of physical verification of
inventories followed by the Management are reasonable and adequate in
relation to the size of the company and the nature of its business.
(c) The company is maintaining proper records of inventory. There was
no material discrepancies noted on physical verification of inventories
as compared to the book records.
(iii)(a) During the current financial year, the company has taken
unsecured loans aggregating to Rs, 2,80,84,336.19/- from companies,
firms or other parties covered in the register maintained under section
301 of the Companies Act, 1956. The total outstanding as at the end of
the financial year amounts to Rs. 2,54,81,960.00/-.
(b) In our opinion, the terms & conditions of such unsecured loans are
not prima facie prejudicial to the interests of the Company.
(c) As far as the payment of the principal & interest is concerned, no
fixed schedule of the same has been decided and the same is paid as per
mutual understanding.
(d) No amount is overdue on a/c of principal and interest.
(iv) In our opinion and according to the information and explanation
given to us, there are adequate Internal Control Procedures
commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the
sale of goods and there is no continuing failure to correct major
weakness in the internal control.
(v) (a) In our opinion and according to the information and explanation
given to us, we are of the opinion that the transactions that needed to
be entered into 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 lakhs in
respect of each party during the year have been made at prices which
are reasonable.
(vi) In our opinion and according to the information and explanation
given to us, the company has not accepted deposits under the provision
of Section 58A and 58AA of the Companies Act, 1956 , except for
unsecured loans from outsiders , which is repaid on a regular basis .
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The Central Government of India has not prescribed the
maintenance of cost records under Section 209 (1) (d) of the Companies
Act, 1956.
(ix)(a) The company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund,
investor education protection fund, employees state insurance, sales
tax wealth tax* custom duty, excise duty, cess and other material
statutory dues wherever applicable, there are no dues, in our opinion,
in respect of Income tax. Wealth tax, sales tax, custom duty, excise
duty and cess that have not been deposited on account of any dispute.
(b) There is no dispute pending on any forum in case of statutory dues
like sales tax/income tax /custom tax etc.
(x) The company does not have accumulated losses at the end of the
financial year nor has incurred any cash losses during the year.
(xi) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to a financial
institution or a bank or debenture holders.
(xii) According to the information and explanations given to us, the
company has not granted any loans or advances on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) The company is not a Chit Fund, or a Nidhi / Mutual benefit Fund
/ society. Therefore, the provisions of clause 4(xiu) of the Companies
(Auditors Report) Order 2003 are not applicable to the Company.
(xiv) The company is not dealing in or trading in shares, securities
debentures and other investments and accordingly the provisions of
clause 4(xiv) of the Companies (Auditors Report) Order 2003 is not
applicable to the Company.
(xv) The total amount of limit sanctioned by PNB to the company during
the year was Rs. 41 crores, out of which Plant C.C.= Rs. 16 crores.
Trading C.C. = 10 crores and Term Loan = Rs. 15 crores. The amount
utilized upto the balance sheet date was Rs. 11,17,76,658.29/-.
(xvi) According to the information and explanations given to us the
company has applied the term loan for the purpose for which loans were
obtained.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we find
that no funds raised on short term basis have been used for the long
term investment.
(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, and hence para 4 (xviii) of the order is not
applicable.
(xix) As the Company has not issued any debentures during the year,
para 4 (xix) of the order is not applicable.
(xx) The company has not raised any money by way of public issues
during the year under our audit.
(xxi) On the basis of our examination and 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 T.S. Rawal & Co.,
Chartered Accountants
CAR..S. Rawal
Membership No. 117201
(Partner)
Place: Nagpur
Date: 22-06-2009