Mar 31, 2014
1. We have audited the accompanying financial statements of M/s.
SAMPRE NUTRITIONS LIMITED ("the company"), which comprise the Balance
Sheet as at March 31st, 2014, the Statement of Profit & Loss and the
Cash Flow Statement for the year then ended, and a summary of the
significant accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
2. The Company''s Management is responsible for the preparation of
these financial statements that give a true and fair view of the
financial position, financial performance and cash flows of the Company
in accordance with the Accounting Standards referred to in Section
211(3C) of the Companies Act, 1956 ("the Act") and in accordance with
the accounting principles generally accepted in. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditors'' Responsibility
3. 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 plat and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
4. An audit involves performing procedures to obtain audit evidence
about the amounts and the disclosures in the financial statements. The
Procedure selected depend on the auditor''s judgment, including the
assessment of the risks of materials 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 appropriate in the
circumstances. An audit also includes evaluation the appropriateness
of the accounting policies used and the reasonableness of the
accounting estimates made by the Management, as well as evaluation the
overall presentation of the financial statements.
5. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
1. In our opinion and to the best of our information and according to
the explanations given to us, the aforesaid financial statements give
the information required by the Act in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India.
a. In the case of the Balance Sheet, of the state of affairs of the
company as at 31st March 2014.
b. In the case of the Statement of Profit & Loss, of the Profit of the
year ended on that date; and
c. In the case of Cash Flow Statement, of the cash flows of the
company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
2. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government in terms of Section 227(4A) of
the Act, we give in the Annexure a Statement on the matters specified
in paragraphs 4 and 5 of the Order.
3. 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 purposes of our
audit.
b. In our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of
those books.
c. The Balance Sheet, the Statement of Profit and Loss, and the Cash
Flow Statement dealt with by this Report are in agreement with the
books of account.
d. In our opinion, the Balance Sheet, the Statement of Profit and
Loss, and the Cash Flow Statement comply with the Accounting Standards
referred to in Section 211(3C) of the Act.
e. On the basis of the written representation received from the
directors as on 31st March 2014 taken on record by the Board of
Directors, none of the directors is disqualified as a Director in terms
of Section 274(1)(g) of the Act.
ANNEXURE TO THE AUDITOR''S REPORT
In our opinion and according to the information and explanations given
to us, the nature of the company''s business / activities during the
year are such that clauses (v), (x), (xii), (xiii), (xv), (xviii),
(xix) and (xx) of paragraph 4 of the Order are not applicable to the
Company. In respect of the other clauses, we report as under:
(i) In respect of Fixed Assets:
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of its fixed assets.
(b) The fixed assets were physically verified during the year by the
Management in accordance with a regular programme of verification
which, in our opinion, provides for physical verification of all the
fixed assets at reasonable intervals. According to the Information and
explanations given to us, no material discrepancies were noticed on
such verification.
(c) During the year, in our opinion, a substantial part of fixed assets
has not been disposed off by the Company.
(ii) In respect of Inventory:
(a) As explained to us, the Inventories other than material lying with
third parties (which have substantially been confirmed) were physically
verified during the year by the Management at reasonable intervals.
(b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of inventories
followed by the management were reasonable and adequate in relation to
the size of the company and the nature of its business.
(c) In our opinion and according to the information and explanation
given to us, the company has maintained proper records of its
inventories and no material discrepancies were noticed on physical
verification.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured, to / from companies, firms or other parties covered in the
register maintained u/s 301 of the Companies Act, 1956.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control systems commensurate
with the size of the company and the nature of its business for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
major weakness in such internal control system.
(v) In our opinion and according to the information and explanations
given to us, the Company has complied with the provisions of Sections
58A and 58AA or any other relevant provisions of the Companies Act,
1986 and the Companies (Acceptance of Deposits) Rules, 1975 with regard
to the deposits accepted from the public. According to the information
and explanation given to us, no Order has been passed by the Company
Law Board or the National Company Law Tribunal or the Reserve Bank of
India or any Court or any other Tribunal on the Company.
(vi) In our opinion, the Company has an internal audit system
commensurate with the size of the Company and the nature of its
business.
(vii) We have broadly reviewed the cost records maintained by the
Company, as prescribed by the Central Government under Section
209(1)(d) of the Companies Act, 1956, and are of the opinion that prima
facie the prescribed cost records have been maintained and are being
made up. We have, however, not made a detailed examination of the cost
records with a view to determine whether they are accurate or complete.
(viii) According to the information and explanation given to us and
according to the books and records as produced and examined by us, in
our opinion :
(a) The Company is regular in depositing undisputed statutory dues
including provident fund, investor education and protection fund,
employees'' state insurance, income tax, sales tax, wealth tax, service
tax, customs duty, excise duty, Cess and other material statutory dues
as applicable with the appropriate authorities.
(b) As at 31st March 2014, the following are the particulars of dues on
account of income tax, sales tax, wealth tax, service tax, excise duty
and Cess matters that have not been deposited on account of any
dispute:
Name of Nature of the Amount Rs. Period to which the
the Dues amount relates
Statute Various Years
covering the period
As on 31st March 2014
Central Excise Duty Excise Duty From April-2007 To
Excise Act, Rs.74, 45,614/- & March-2011
1944 Penalty of
Rs.74, 45,614/-.
Central Excise Duty Excise Duty From April-2011 To
Excise Act, Rs.20, 03,700/-, & January-2012.
1944 Penalty of
Rs.60, 00,000/-.
Central Excise Duty Interest Paid is FY 2008-09
Excise Act, Rs.5,92,478/- &
1944 is Rs.2,232/- &
Excise Duty Paid of
Rs.13,41,403/-
Central Excise Duty Excise Duty Paid is From April-2008 To
Excise Act, Rs.3, 40,194/- & March-2009
1944 Interest and
Penalty paid of
Rs.1, 25,872/- &
Rs.85, 049/-.
Central Excise Duty Excise Duty of From February-2012
Excise Act, Rs.21, 83,993/- To September-2012.
1944 and Penalty of
Rs.2, 00,000/-.
Central Excise Duty Excise Duty on From June-2008 To
Excise Act, Freebies Paid Rs. January-2013
1944 63, 49,974/-.
Central Excise Duty Excise Duty on From October-2012 To
Excise Act, Freebies Paid Rs. March-2013
1944 10,05,000/-.
Name of the Statute Forum where pending
Central Excise Act, 1944 CESTAT, Bangalore, OIO No.34/2012 Dated:
19.07.2012.
Central Excise Act, 194 Commissioner of Central Excise Appeals
O.R.No.135/2012 Dated:24.01.2013
Central Excise Act, 1944 CESTAT, Bangalore, OIO No.33/2011 Dated:
17.08.2011
Central Excise Act, 1944 CESTAT, Bangalore, OIO No.04/2012 Dated:
12.03.2012
Central Excise Act, 1944 Commissioner of Central Excise Appeals
O.R.No.342013. Dated:31.05.2013.
Central Excise Act, 1944 Commissioner of Central Excise
O.R.No.1272013. Dated:02.07.2013
Central Excise Act, 1944 Commissioner of Central Excise
O.R.No.230/2013. Dated:29.10.2013
Out of the total disputed dues approximate Rs. 3 Crore of above has
been stayed for recovery by the relevant authorities.
(ix) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to any financial
institution, bank or to debenture holders during the year.
(x) In our opinion and according to the information and explanations
given to us, the Company is not a dealer or trader in securities. The
Company has maintained proper records of transactions and contracts in
respect of shares, securities, debenture and other investments and
timely entries have been made therein. All share, securities,
debentures and other investments have been held by the Company in its
own name.
(xi) In our opinion and according to the information and explanations
given to us, the term loans have been applied for the purposes for
which they were obtained.
(xii) In our opinion and according to the information and explanations
given to us and on an overall examination of the Balance Sheet, we
report that funds raised on short-term basis have not been used during
the year for long-term investment.
(xiii) To the best of our knowledge and according to the information
and explanations given to us, no fraud by the Company and no
significant fraud on the Company has been noticed or reported during
the year.
For KJD SRINIVAS & CO
Chartered Accountants
(Firm No. 05352S)
Place: Medchal
Date: 28.08.2014 Sd/-
KJD SRINIVAS
Partner
Membership Number : 200487
Mar 31, 2013
Report on Financial Statements
1. We have audited the accompanying financial statements of M/s.
SAMPRE NUTRITIONS LIMITED ("the company"), which comprise the Balance
Sheet as at March 31st, 2013, the Statement of Profit & Loss and the
Cash Flow Statement for the year then ended, and a summary of the
significant accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
2. The Company''s Management is responsible for the preparation of
these financial statements that give a true and fair view of the
financial position, financial performance and cash flows of the Company
in accordance with the Accounting Standards referred to in Section
211(3C) of the Companies Act, 1956 ("the Act") and in accordance with
the accounting principles generally accepted in. This responsibility
includes the design, implementation and maintenance of internal control
relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditors'' Responsibility
3. 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 plat and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
4. An audit involves performing procedures to obtain audit evidence
about the amounts and the disclosures in the financial statements. The
Procedure selected depend on the auditor''s judgment, including the
assessment of the risks of materials misstatement of materials
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
appropriate in the circumstances. An audit also includes evaluation the
appropriateness of the accounting policies used and the reasonableness
of the accounting estimates made by the Management, as well as
evaluation the overall presentation of the financial statements.
5. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
1. In our opinion and to the best of our information and according to
the explanations given to us, the aforesaid financial statements give
the information required by the Act in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India.
a. In the case of the Balance Sheet, of the state of affairs of the
company as at 31st March 2013.
b. In the case of the Statement of Profit & Loss, of the Profit of the
year ended on that date; and
c. In the case of Cash Flow Statement, of the cash flows of the
company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
2. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government in terms of Section 2207(4A)
of the Act, we give in the Annexure a Statement on the matters
specified in paragraphs 4 and 5 of the Order.
3. 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 purposes of our
audit.
b. In our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of
those books.
c. The Balance Sheet, the Statement of Profit and Loss, and the Cash
Flow Statement dealt with by this Report are in agreement with the
books of account.
d. In our opinion, the Balance Sheet, the Statement of Profit and
Loss, and the Cash Flow Statement comply with the Accounting Standards
referred to in Section 211(3C) of the Act.
e. On the basis of the written representation received from the
directors as on 31st March 2013 taken on record by the Board of
Directors, none of the directors is disqualified as a Director in terms
of Section 274(1)(g) of the Act.
ANNEXURE TO THE AUDITOR''S REPORT
In our opinion and according to the information and explanations given
to us, the nature of the company''s business / activities during the
year are such that clauses (v), (x), (xii), (xiii), (xv), (xviii),
(xix) and (xx) of paragraph 4 of the Order are not applicable to the
Company. In respect of the other clauses, we report as under:
(i) In respect of Fixed Assets:
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of its fixed assets.
(b) The fixed assets were physically verified during the year by the
Management in accordance with a regular programme of verification
which, in our opinion, provides for physical verification of all the
fixed assets at reasonable intervals. According to the Information and
explanations given to us, no material discrepancies were noticed on
such verification.
(c) During the year, in our opinion, a substantial part of fixed assets
has not been disposed off by the Company.
(ii) In respect of Inventory:
(a) As explained to us, the Inventories other than material lying with
third parties (which have substantially been confirmed) were physically
verified during the year by the Management at reasonable intervals.
(b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of inventories
followed by the management were reasonable and adequate in relation to
the size of the company and the nature of its business.
(c) In our opinion and according to the information and explanation
given to us, the company has maintained proper records of its
inventories and no material discrepancies were noticed on physical
verification.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured, to / from companies, firms or other parties covered in the
register maintained u/s 301 of the Companies Act, 1956.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control systems commensurate
with the size of the company and the nature of its business for the
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
major weakness in such internal control system.
(v) In our opinion and according to the information and explanations
given to us, the Company has complied with the provisions of Sections
58A and 58AA or any other relevant provisions of the Companies Act,
1986 and the Companies (Acceptance of Deposits) Rules, 1975 with regard
to the deposits accepted from the public. According to the information
and explanation given to us, no Order has been passed by the Company
Law Board or the National Company Law Tribunal or the Reserve Bank of
India or any Court or any other Tribunal on the Company.
(vi) In our opinion, the Company has an internal audit system
commensurate with the size of the Company and the nature of its
business.
(vii) We have broadly reviewed the cost records maintained by the
Company, as prescribed by the Central Government under Section
209(1)(d) of the Companies Act, 1956, and are of the opinion that prima
facie the prescribed cost records have been maintained and are being
made up. We have, however, not made a detailed examination of the cost
records with a view to determine whether they are accurate or complete.
(viii) According to the information and explanation given to us and
according to the books and records as produced and examined by us, in
our opinion :
The Company is regular in depositing undisputed statutory dues
including provident fund, investor education and protection fund,
employees'' state insurance, income tax, sales tax, wealth tax, service
tax, customs duty, excise duty, Cess and other material statutory dues
as applicable with the appropriate authorities.
Out of the total disputed dues aggregating Rs.3, 41, 16,123/- of above,
Rs.2,52,78,921/-has been stayed for recovery by the relevant
authorities.
(ix) According to the information and explanations given to us, the
Company has not defaulted in repayment of dues to any financial
institution, bank or to debenture holders during the year.
(x) In our opinion and according to the information and explanations
given to us, the Company is not a dealer or trader in securities. The
Company has maintained proper records of transactions and contracts in
respect of shares, securities, debenture and other investments and
timely entries have been made therein. All share, securities,
debentures and other investments have been held by the Company in its
own name.
(xi) In our opinion and according to the information and explanations
given to us, the term loans have been applied for the purposes for
which they were obtained.
(xii) In our opinion and according to the information and explanations
given to us and on an overall examination of the Balance Sheet, we
report that funds raised on short-term basis have not been used during
the year for long-term investment.
(xiii) To the best of our knowledge and according to the information
and explanations given to us, no fraud by the Company and no
significant fraud on the Company has been noticed or reported during
the year.
For KJD SRINIVAS & CO
Chartered Accountants
(Firm No. 05352S)
Sd/-
Place: Secunderabad KJD SRINIVAS
Date: 29.05.2013 Partner
Membership Number : 200487
Mar 31, 2011
1. We have audited the attached balance sheet of M/s. SAMPRE
NUTRITIONS LIMITED as at 31" March 2011, 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 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 of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003
(including all amendments thereafter) issued by the Central Government
of India in terms of sub-section (4A) of section 227 of the Companies
Act, 1956, we enclose in the Annexure a statement on the matters
specified in paragraphs 4 and 5 of the said Order.
4. Further to our comments in the Annexure referred to above, we
report that:
(i) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(ii) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
(iii) The balance sheet and profit and loss account dealt with by this
report are in agreement with the books of account;
Civ) In our opinion, the balance sheet, and 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;
(v) On the basis of written representations 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:
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(a) In the case of the balance sheet, the state of affairs of the
company as at 31 st March 2011;
(b) In the case of the profit and loss account, the profit for the year
ended on that date.
(i) The company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets.
(a) All the assets have not been physically verified by the management
during the year but there is a regular programme of verification which,
in our opinion, is reasonable having regard to the size of the company
and the nature of its assets. No material discrepancies were noticed on
such verification.
(b) Fixed Assets disposed off during the year; do not affect the going
concern status of the company.
(ii) (a) The inventory has been physically verified during the year by
the management. In our Opinion, the frequency of verification is
reasonable.
(b) 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. The
discrepancies noticed on verification between the physical stocks and
the book records were not material.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to and from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
Accordingly, the clauses 4 (iii) (b) to (d) of the Order are not
applicable.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory, fixed assets and with
regard to the sale of goods. During the course of our audit, we have
not observed any continuing failure to correct major weaknesses in
internal controls.
(v) According to the information and explanations given to us, there
are no transactions that need to be entered into the register
maintained under section 301 of the Companies Act, 1956. Accordingly,
the clause 4(v) (b) of the order is not applicable.
(vi) Company has not accepted any deposits from the public with in the
meaning of sections 58A and 58AA of the company Act, 1956 and rules
framed there under.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us, the
Central Government has not prescribed the maintenance of cost records
under section 209 (1) (d) of the Companies Act, 1956 in respect of
activities carried out by the company.
(ix) (a) The company is generally been regular in depositing with
appropriate authorities undisputed statutory dues including income tax,
sales tax, wealth tax, custom duty, excise duty, cess and other
material statutory dues applicable to it. However the Company is not
regular in depositing Provident Fund and Employees State Insurance
within the due dates.
(x) The company does not have accumulated losses as at the end of the
financial year and has not incurred cash losses in the current
financial year covered by our audit and in the immediately preceding
financial year.
(xi) In our opinion and according to the information and explanations
given to us, the company has not defaulted in repayment of dues to
financial institution, bank or debenture holders.
(xii) In our opinion and according to the information and explanations
given to us the company has not granted loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities. Hence clause 4(xii) of the order is not applicable.
(xiii) In our opinion, 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) In our opinion, the company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditor's Report)
Order, 2003 are not applicable to the company.
(xv) The company has not issued any guarantee for loans taken by others
from banks or financial institutions.
(xvi) In our opinion, the term loans have been applied for the purpose
for which they were raised.
(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 the no funds raised on short-term basis have been used for
long-term funds, No long-term funds have been used to finance
short-term assets except permanent working capital.
(xviii) According to the information and explanations given to us, the
company has not made preferential allotment of shares to parties and
companies covered in the register maintained under section 301 of the
Act. Accordingly Clause 4(xviii) of the order is not applicable.
(xix) According to the information and explanations given to us, the
company has not issued any debentures. Accordingly Clause 4(xix) of the
order is not applicable.
(xx) The company has not raised any money by public issue during the
year. Accordingly Clause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For KJD SRINIVAS & CO
Chartered Accountants
(Firm No: 053525)
Place: Secunderabad
Date: 09.09.2011 Sd/-
KJD SRINIVAS
Partner
Membership Number: 200487
Mar 31, 2010
1. We have audited the attached balance sheet of M/s. SAMPRE
NUTRITIONS LIMITED as at 31st March 2010, the profit and loss account
for the year ended oh 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 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
(including all amendments thereafter) issued by the Central Government
of India in terms of sub-section (4A) of section 227 of the Companies
Act, 1956, we enclose in the Annexure a statement on the matters
specified in paragraphs 4 and 5 of the said Order.
4. Further to our comments in the Annexure referred to above, we
report that
(i) We have obtained all the-information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit.
(ii) In our opinion, proper books of account as required by law have
beerv kept by the company so far as appears from our examination of
those books.
(iii) The balance sheet and profit and loss account dealt with by this
report are in agreement with the books of account.
(iv) In our opinion, the balance sheet, and 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;
(v) 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 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.
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read together with the
schedules and notes and accounting policies hereon give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India.
(a) In the case of the Balance Sheet, of the state of affairs of the
company as at 31st March 2010.
(b) In the case of the Profit and Loss account, of the profit of the
company for the year ended on that date.
(c) In the case of Cash Flow Statement of the Cash Flows for the year
ended on that date.
ANNEXURE TO THE AUDITORS REPORT Referred to in paragraph 3 of our
report of even date,
(i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) All the assets have not been physically verified by the management
during the year but there is a regular programme of verification which,
in our opinion, is reasonable having regard to the size of the company
and the nature of its assets. No material discrepancies were noticed on
such verification.
(c) Fixed Assets disposed off during the year; do not effect the going
concern status of the company.
(ii) (a) The inventory has been physically verified during the year by
the management. In our opinion, the frequency of verification is
reasonable.
(b) 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. The
discrepancies noticed on verification between the physical stocks and
the book records were not material.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to and from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
Accordingly, the clauses 4 (iii) (b) to (d) of the Order are not
applicable.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory, fixed assets and with
regard to the sale of goods. During the course of our audit, we have
not observed any continuing failure to correct major weaknesses in
internal controls.
(v) According to the information and explanations given to us, there
are no transactions that need to be entered into the register
maintained under section 301 of the Companies Act, 1956. Accordingly,
the.clause 4(v) (b) of the order is not applicable.
(vi) Company has not accepted any deposits from the public with in the
meaning of sections 58A and 58AA of the company Act, 1956 and rules
framed there under.
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) According to the information and explanations given to us, the
Central Government has not prescribed the maintenance of cost records
under section 209 (1) (d) of the Companies Act, 1956 in respect of
activities carried out by the company. (ix)
(a) The company is generally been regular in depositing with
appropriate authorities undisputed statutory dues including provident
fund, employees state insurance, income tax, sales tax, wealth tax,
custom duty, excise duty, cess and other material statutory dues
applicable to it.
(x) The company does not have accumulated losses as at the end of the
financial year and has not incurred cash losses in the current
financial year covered by our audit and in the immediately preceding
financial year.
(xi) In our opinion and according to the information and explanations
given to us, the company has not defaulted in repayment of dues to
financial institution, bank or debenture holders.
(xii) In our opinion and according to the information and explanations
given to us the company has not granted loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities. Hence clause 4(xii) of the order is not applicable.
(xiii) In our opinion, 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) In our opinion, the company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (Auditors Report) Order,
2003 are not applicable to the company.
(xv) The company has not issued any guarantee for loans taken by others
from banks or financial institutions.
(xvi) In ouropinion, the term loans have been applied for the purpose
for which they were raised.
(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 the no funds raised on short-term basts have been used for
long-term funds, No long-term funds have been used to finance
short-term assets except permanent working capital.
(xviii) According to the information arid explanations given to us, the
company has not made preferential allotment of shares to parties.and
companies covered in the register maintained under section 301 of the
Act. Accordingly Clause 4(xviii) of the order is not applicable.
(xix) According to the information and explanations given to Us, the
company has not issued any debentures. Accordingly Clause 4(xix) of the
order is not applicable.
(xx) The company has not raised any money by public issue during the
year. Accordingly Clause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For KJD SRINIVAS & CO.,
Chartered Accountants
Sd/-
{V SRIRAMA MURTY}
Place: Secunderabad. Partner
Date: 26-08-2010 MNo.216780
Mar 31, 2009
1. We have audited the attached balance sheet of M/s. SAMPRE NUTRITIONS
LIMITED as at 31st March 2009, the profit ana loss aecount for year
ended on that date annexed thereto. These financial statements are the
responsibilliy 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 management, as well as evaluating the overall financial statement
presentation. We believe that our audit providers a reasonable basis
for our opinion.
3. As required by the Companies (Auditors Report) Order, 2003
(including all amendments thereafter) issued by the Central Government
of India in terms of sub-section (4A) of section 227 of the Companies
Act, 1956, we enclose in the Annexure a statement on the matters
specified in paragraphs 4 and 5 of the said Order.
4. Further to our comments in the Annexure referred to above, we report
that:
(i) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(ii) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
(iii) The balance sheet and profit and loss account dealt with by this
report are in agreement with the books of account;
(iv) In our opinion, the balance sheet, and 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;
(v) 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:
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in india
(a) in the case of the balance sheet, of the state of affairs of the
company as at 3st March 2009.
(b) in the cese of the profit and loss account, of the profit for the
year ence on that date.
ANNEXURE TO THE AUDITORS REPORT Referred to in paragraph a of our report
of even date,
(i) (a) The company has maintained proper records showing full
particulars including quantitsJve details and situation of fixed
assets.
(b) All the assets have not been physically verified by the management
during the year but there is a regular programme of verification which,
in our OPINION , is reasonable having regard to the size of the company
and the nature of its assets No marealescic esncies erprtcies were
noticed on such verification.
(c) Fixed Assets disposed off during the year; do not affect the going
concern Status of the company.
(ii) (A) The inventory has been physically verified during the year by
the management. In our annion, the frequency of verification is
reasonable.
(b) the project ohysica! verification of inventories followed by the
management are reesonab!e and adequate is relation to the size of the
company and the nature of its business.
(c) The company is maintaining proper records of inventry. The
diiscrepancies noticed on verification between the physical stocks and
the book records were not material.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to and from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
Accordingly, the clauses 4 (iii) (b) to (d) of the Order are not
applicable.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory, fixed assets and with
regard to the sale of goods. During the course of our audit, we have
not observed any continuing failure to correct major weaknesses in
internal controls.
(v) According to the information and explanations given to us, there
are no transactions that need to be entered into the register
maintained under section 301 of the Companies Act, 1956. Accordingly,
the clause 4(v) (b) of the order is not applicable.
(vi) Company has not accepted any deposits from the public with in the
meaning of sections 58A and 58 a a of the company Act, 1956 and rules
framed there under.
(vii) In as optical the company has an internal audit system
commensurate with the size and nature of its business. *
(viii) According to the information and explanations given to us, the
Centra! Government has not prescribed the maintenance of cost records
under section 209 (1) (d) of the Companies Act, 1956 in respect of
activities carried out by the company.
(ix) The company is generally been regular in depositing with
appropriate authorities undisputed statutory dues including provident
fund, employees state insurance, income tax, sales tax, wealth tax
custom duty, excise duty, cess and other material statutory dues
applicable to it.
(x) The company does not have accumulated losses as at the end of the
financial year and has notificationcosh losses in the current financial
year covered by our audit and in the immediately preejing financial
year.
(xi) In our opinion and according to the information and explanations
given to us, the company has not defaulted in repayment of dues to
financial institution, bank or debenture holders.
(xii) In our opinion and according to the information and explanations
given to us the company has not granted loans and advances on the basis
of security by way of pledge of shares, debentures and orther
securities. Hence clause 4(xii) of the order is not applicable.
(xiii) In our opinion, the company is not a chit fund or a nidhi/muiual
benefit fund/ society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
- copmany.
(xiv) in our opinion., the company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4{xiv) of the Companies (Auditors Report) Order,
2003 are not applicable to the company.
(xv) The company has not issued any guarantee for loans taken by others
from banks or financial institutions.
(xvi) In our opinion, the tern lioans have been applied for the purpose
for which they were raised.
(xvii) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we ropoit
that the no funds raised on short-term basis have been used for
long-term funds, No long-term funds have been used to finance
short-term assets except permanent working capital
(xviii) According to the information and explanations given to us, the
company has not made preferential allotment of shares to parties and
companies covered in the register maintained under section 301 of the
Act. Accordingly Clause 4(xviii) of the order is not applicable.
(xix) According to the information and explanations given to us, the
company has not issued any debentures. Accordingly Clause 4(xix) of the
order is not applicable.
(xx) The company has not raised any money by public issue during the
year. According Cause 4(xx) of the order is not applicable.
(xxi) According to the information and explanations given to us, no
fraud on by the company has been noticed or reported during the course
of our audit.
For TP RAO & CO
Chartered Accountants
Sd/-
Date: 26.08.2009 J . Prasad Rao
Place: Hyderabad Proprietor
M No, 019096
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article