Mar 31, 2014
We have audited the attached Balance sheet of M/s. Sheel International
Limited as at 31st March, 2014, and the Profit & 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.
MANAGEMENT''S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Company''s Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the company in
accordance with the accounting standards Notified under Companies Act,
1956 read with General Circular 15/2013 dated 13.09.2013 of the
Ministry of Corporate affairs in respect of Section 153 of the
Companies Act, 2013. 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 statements whether due to
fraud and error.
AUDITOR''S RESPONSIBILITY
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatements. 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.
As required by the Companies (Auditor''s Report) Order, 2003 as amended
by the Companies Auditor''s (Amendment) Order, 2004 (the "Order"),
issued by the Central government of India in terms of sub-section (4A)
of section 227 of the Companies Act, 1956 (the "Act"), We file the
Annexure A statement on the matters specified in paragraphs 4 and 5 of
the said Order. Further to our comments in the Annexure referred to
above, we report that:
1. We have obtained all the information and explanations, which to the
best of our knowledge and belief, were necessary for the purpose of Our
audit;
2. In our opinion, proper books of account, as required by law, have
been kept by the Company so far as it appears from our examination of
these books;
3. The attached Balance Sheet and Profit& Loss Account are in
agreement with the books of account;
4. In our opinion, the Profit & Loss Account and Balance Sheet comply,
in all material respects, with the Accounting Standards Notified Under
Companies Act, 1956 read with general circular 15/2013 dated 13.09.2013
of the Ministry of corporate affairs Section 133 of the companies Act,
2013
5. On the basis of the confirmation received from the directors, and
taken on record by the Board of Directors we report that none of the
directors is disqualified as on 31st March, 2014 from being appointed
as director in terms of clause (g) of sub- section (1) of section 274
of the Companies Act, 1956
6. In our opinion and best of our information and according to the
explanations given to us, the said accounts together with the schedule
and read with the notes thereon give the information as required by the
Companies Act, 1956 I the manner as required by the said Act and give a
true and fair view:
A) In case of Balance Sheet company at 31st March, 2014
B) In the case of Profit & Loss Account Profit of the Company for the
year ended on that date.
C) In the case of CASH FLOW STATEMENT of the Company for the year ended
on that date.
Annexure to the auditors'' report of even date to the members of Sheel
International Limited on the financial statements for the year ended
March 31, 2014.
Based upon the audit procedures performed for the purpose of reporting
the true and fair view of the financial statements and in terms of the
information and explanations given to us and the books and records
examined by us in the normal course of audit, we report that;
i) a) The Company has not maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
b) As explained to us, the management of Company has physically
verified the fixed assets in a reasonable manner during the year.
c) No Fixed Asset has been disposed off during the year.
ii) a) There is no inventory at the end of the year.
b) The Company has maintained proper records of inventory during the
year but there is no inventory at the end of year.
iii) The company has not taken/ granted any loans secured or un secured
from / to companies firms or other parties covered in their registered
maintained under section 301 of the companies act, 1956, Therefore the
provisions of the clause for 4(III)(b)(c) and (d)/(f) and (g) of the
said order are not applicable to the company.
(iv) In our opinion, there are adequate internal control systems
commensurate with the size of the Company and the nature of its
business, for the fixed assets and for the sale of services. During
the course of our audit, no major weakness has been noticed in the
internal controls in respect of these areas.
(v) According to the information and explanation given to us, there was
no transaction taken place during the year with any party covered under
section 301 of the Companies Act.
(vi) According to the information and explanation given to us, the
company has not accepted deposit from public during within the meaning
of Section 58A and 58AA of the act, and the rules framed there undert.
(vii) According to the information and explanation given to us, the
company has not having any internal audit system.
(viii) According to the information and explanation given to us, the
Central Government has not prescribed maintenance of cost records under
clause (d) of sub-section (1) of section 209 of the Companies Act, 1956
by the Company.
(ix) The Company has following dues payable in respect of income tax
dues for the various assessment year which are as under
- Rs. 7,46,000/-for the A.Y. 1996-97
- Rs. 87,137/- for the A.Y. 1997-98
- Rs. 9,49,589/-for the A.Y. 1998-99
- Rs. 1,40,215/-for the A.Y. 1998-99(TDS)
- Rs. 6,000/-for the A.Y. 1999-2000
And in respect of the wealth tax, sales tax, custom duty and excise
duty no information has been provided to us in respect of undisputed
amount as at 31 March 2014, for the period more than six months from
the date they become payable. Further we have not been provided with
any tax assessment orders. There are two cases pending before court.
Mandi Samity bulandshahar, Allahabad High Court, Case no. 54105/203
Sheelawanti, Delhi High Court, Case No. RFA 159/2006
(x) The Company has accumulated losses at the end of the financial year
2013-14 Rs 5,89,82,367.88 /- which is more than 50% of its net worth,
and the company has not incurred any cash losses during the year.
(xi) The Company has not any dues from financial institutions and
banks.
(xii) The Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xiii) The Company is not a chit fund of a nidhi / mutual benefit
fund/society. Accordingly, the provisions of clause 4(xii) of the Order
are not applicable to the Company.
(xiv) The Company is not dealing in trading of shares, securities,
debentures and other investments.
(xv) The Company has its land as mortgages for loans from taken by
jayshee Investments Pvt. Ltd. from banks or financial institutions, the
terms and conditions whereof in our opinion are not prejudicial to the
interest of the company.
(xvi) In our Opinion and according to the explanation provided to us,
this clause is not applicable to the company.
(xvii) Based on an overall examination of the Balance Sheet and of the
Company, we report that no funds raised on short- terms basis have
been used for long term investment. (excludes permanent working
capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Act. Accordingly, the provisions of clause 4(xviii)
of the order ate not applicable to the Company.
(xix) The Company did not create any security in respect of the
debenture issued, this clause is not applicable to the Company.
(xx) The Company has not raised any money by public issues during the
year. Accordingly, the provisionally of clause 4(xx) of the Order are
not applicable to the Company.
(xxi) No fraud on or by the Company has been noticed of reported during
the year.
FOR MANOJ SANGEETA & ASSOCIATES
Chartered Accountant
Place: New Delhi
Date: 24/05/2014 Sd/-
Manoj Kumar
Partner,
M. No -098161
Place: New Delhi
Mar 31, 2013
We have audited the attached Balance sheet of M/s. Sheel International
Limited as at 31st March, 2013, and the Profit & 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.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatements. 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.
As required by the Companies (Auditor''s Report) Order, 2003 as amended
by the Companies Auditor''s (Amendment) Order, 2004 (the "Order"),
issued by the Central government of India in terms of sub-section (4A)
of section 227 of the Companies Act, 1956 (the "Act"), We file the
Annexure A statement on the matters specified in paragraphs 4 and 5 of
the said Order.
Further to our comments in the Annexure referred to above, we report
that:
i. 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;
ii. 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
these books;
iii. The attached Balance Sheet and Profit& Loss Account are in
agreement with the books of account;
4. In our opinion, the Profit & Loss Account and Balance Sheet comply,
in all material respects, with the Accounting Standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956.
5. On the basis of the confirmation received from the directors, 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 director in terms of clause (g) of sub-section (1) of section 274 of
the Companies Act, 1956
6. In our opinion and best of our information and according to the
explanations given to us, the said accounts together with the schedule
and read with the notes thereon give the information as required by the
Companies Act, 1956 I the manner as required by the said Act and give a
true and fair view:
A) In case of Balance Sheet company at 31st March, 2013
B) In the case of Profit & Loss Account Profit of the Company for the
year ended on that date.
Annexure to the auditors'' report of even date to the members of Sheel
International Limited on the financial statements for the year ended
March 31, 2013.
Based upon the audit procedures performed for the purpose of reporting
the true and fair view of the financial statements and in terms of the
information and explanations given to us and the books and records
examined by us in the normal course of audit, we report that;
i) a) The Company has not maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
b) As explained to us, the management of Company has physically
verified the fixed assets in a reasonable manner during the year.
c) No Fixed Asset is disposed during the year.
ii) a) There is no inventory at the end of the year.
b) The Company has maintained proper records of inventory during the
year but there is no inventory at the end of year.
iii) The Company has maintained register under section 301 of the
companies Act, 1956, and there were no contract during the year. And
Other clause (b) to (e) is not applicable
(iv) In our opinion, there are adequate internal control systems
commensurate with the size of the Company and the nature of its
business, for the fixed assets and for the sale of services. During
the course of our audit, no major weakness has been noticed in the
internal controls in respect of these areas.
(v) According to the information and explanation given to us, there was
no transaction taken place during the year with any party covered under
section 301 of the Companies Act.
(vi) According to the information and explanation given to us, the
company has not accepted deposit from public during the year under
audit.
(vii) According to the information and explanation given to us, the
company has not having any internal audit system.
(viii) According to the information and explanation given to us, the
Central Government has not prescribed maintenance of cost records under
clause (d) of sub-section (1) of section 209 of the Companies Act, 1956
by the Company.
(ix) The Company has following dues payable in respect of income tax
dues for the various assessment year which are as under
- Rs. 7,46,000/- for the A.Y. 1996-97
- Rs. 87,137/- for the A.Y. 1997-98
- Rs. 9,49,589/- for the A.Y. 1998-99
- Rs. 1,40,215/- for the A.Y. 1998-99(TDS)
- Rs. 6,000/- for the A.Y. 1999-2000
And in respect of the wealth tax, sales tax, custom duty and excise
duty no information has been provided to us in respect of undisputed
amount as at 31 March 2013, for the period more than six months from
the date they become payable. Further we have not been provided with
any tax assessment orders. There are two cases pending before court.
(x) The Company has accumulated losses at the end of the financial year
2012-13 Rs 5,82,83,661.08 /- which is more than 50% of its net worth,
and the company has not incurred any cash losses during the year.
(xi) The Company has not any dues from financial institutions and
banks.
(xii) The Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xiii) The Company is not a chit fund of a nidhi / mutual benefit
fund/society. Accordingly, the provisions of clause 4(xii) of the
Order are not applicable to the Company.
(xiv) The Company is not dealing in trading of shares, securities,
debentures and other investments.
(xv) The Company has not given guarantee for loans taken by others,
from banks or financial institutions, the terms and conditions whereof
in our opinion are not applicable to the Company.
(xvi) In our Opinion and according to the explanation provided to us,
this clause is not applicable to the company.
(xvii) Based on an overall examination of the Balance Sheet and of the
Company, we report that no funds raised on short-terms basis have been
used for long term investment. (excludes permanent working capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Act. Accordingly, the provisions of clause 4(xviii)
of the order ate not applicable to the Company.
(xix) The Company did not create any security in respect of the
debenture issued, this clause is not applicable to the company.
(xx) The Company has not raised any money by public issues during the
year. Accordingly, the provisionally of clause 4(xx) of the Order are
not applicable to the Company.
(xxi) No fraud on or by the Company has been noticed of reported during
the year.
FOR MANOJ SANGEETA & ASSOCIATES
Chartered Accountant
sd-
Manoj Kumar
(Chartered Accountant)
Membership No. 09816
New Delhi
Mar 31, 2012
We have audited the attached Balance sheet of M/s. Sheel International
Limited as at 31st March, 2012, and the Profit & 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.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatements. 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. As required by the Companies (Auditor's Report) Order,
2003 as amended by the Companies Auditor's
(Amendment) Order, 2004 (the "Order"), issued by the Central government
of India in terms of sub-section
(4A) of section 227 of the Companies Act, 1956 (the "Act"), We file the
Annexure A statement on the matters
specified in paragraphs 4 and 5 of the said Order.
Further to our comments in the Annexure referred to above, we report
that:
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 or those books; iii. The Balance Sheet,
Profit and Loss Account and dealt with by this report are in agreement
with the
books of account;
(a) In our opinion and to the best of our information and according to
explanations
given to us, the financial statements, read together with the notes
thereon, comply with the accounting standards referred to in
sub-section (3C) of Section 211 of the Act, 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, in case of
A) The Balance Sheet of the state of affairs of the company as at March
31, 2012
B) The Profit & Loss Account of the Loss for the year ended on that
date; and b) On the basis of written representation received from the
directors and taken on record by the Directors, we report that none of
the Directors is disqualified as on March ,31,2012 from being appointed
as a director in terms of clause (g) of sub section (1) of Section 274
of the Act,
Annexure to the Auditor's Report
Annexure to the auditors' report of even date to the members of Sheel
International Limited on the financial statements for the year ended
March 31, 2012.
Based upon the audit procedures performed for the purpose of reporting
the true and fair view of the financial statements and in terms of the
information and explanations given to us and the books and records
examined by us in the normal course of audit, we report that;
i) a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets on the basis of available information.
b) As explained to us, the management of the company has physically
verified the fixed assets in a reasonable manner during the year.
c) The fixed assets disposed off most of the unused machinery during
the year and part of the machinery disposed off are substantial and but
it has not affected the going concern. The company was not involved in
the production of goods from so many years, so that sale of substantial
part does not affect its going concern phenomena.
ii) a) There is nil inventory, clause is not applicable.
b) There is nil inventory, clause is not applicable.
c) There is nil inventory, clause is not applicable.
iii) There is no any company, firms and other parties covered in the
register maintained under section 301 of the companies act, 1956, to
which companies has granted or taken any loans. And other clause (b) to
(e) is not applicable.
(iv) In our opinion, there are adequate internal control systems
commensurate with the size of the Company and the nature of its
business, for the purchase of inventory or fixed assets and for the
sale of services. During the course of our audit, no major weakness
has been noticed in the internal controls in respect of these areas.
(v) In respect of contracts and arrangements referred to in section 301
of the Companies Act, 1956 and according to the information and
explanation given to us, there was no transaction taken place during
the year. Para 4(v) (a) and (b) are not applicable to the company.
(vi) According to the information and explanation given to us, the
company has not accepted deposit from public during the year under
audit.
(vii) According to the information and explanation given to us, the
company is not having any internal audit system.
(viii) According to the information and explanation given to us, the
Central Government has not prescribed maintenance of cost records under
clause (d) of sub-section (1) of section 209 of the Companies Act, 1956
by the Company.
(ix) The Company has following dues payable in respect of income tax
dues for the various assessment year which are as under
- Rs. 7,46,000/- for the A.Y. 1996-97
- Rs. 87,137/- for the A.Y. 1997-98
Rs. 9,49,589/- for the A.Y. 1998-99
- Rs. 1,40,215/- for the A.Y. 1998-99(TDS)
- Rs. 6,000/- for the A.Y. 1999-2000
And in respect of the wealth tax, sales tax, custom duty and excise
duty no information has been provided to us in respect of undisputed
amount as at 31 March 2012, for the period more than six months from
the date they become payable. Further we have not been provided with
any tax assessment orders.
(x) The Company has accumulated losses at the end of the financial year
2011-12
Rs 5,82,91,053/- which is more than 50% of its net worth, and the
company has not incurred any cash losses during the year.
(xi) The Company has not defaulted in repayment of dues of financial
institutions and banks during the year.
(xii) The Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xiii) The Company is not a chit fund of a nidhi / mutual benefit
fund/society. Accordingly, the provisions of clause 4(xii) of the Order
are not applicable to the Company.
(xiv) The Company is not dealing in trading of shares, securities,
debentures and other investments.
(xv) The Company has not given guarantee for loans taken by others,
from banks or financial institutions, the terms and conditions whereof
in our opinion are not applicable to the Company.
(xvi) In our Opinion and according to the explanation provided to us,
this clause is not applicable to the company.
(xvii) Based on an overall examination of the Balance Sheet and of the
Company, we report that no funds raised on short-terms basis have been
used for long term investment. (excludes permanent working capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Act. Accordingly, the provisions of clause 4(xviii)
of the order ate not applicable to the Company.
(xix) The Company did not create any security in respect of the
debenture issued, this clause is not applicable to the company.
(xx) The Company has not raised any money by public issues during the
year. Accordingly, the provisionally of clause 4(xx) of the Order are
not applicable to the Company.
(xxi) No fraud on or by the Company has been noticed of reported during
the year.
FOR MANOJ SANGEETA & ASSOCIATES
Chartered Accountant
Place: New Delhi
Date: 25/05/2012 Manoj Kumar
(Chartered Accountant)
Membership No. 098161
Mar 31, 2010
We have audited the attached balance sheet of SHEEL INTERNATIONAL
LIMITED as at 31st march, 2010 and profit & loss accounts of the
company for the year ended on that date annexed there to. These
financial Statements are the responsibility of the Companys
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial state-
ments are free of material misstatements. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosure in the
financial statements. Au audit also includes assessing the accounting
principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe
that our audit provides a reasonable basis for our opinion.
As required by the Companies (Auditors Report) Order, 2003 as amended
by the Companies Auditors (Amendment) Order, 2004 (the "Order"),
issued by the Central government of India in terms of sub-section (4A)
of section 227 of the Companies Act, 1956 (the "Act"), We file the
Annexure A statement on the matters specified in paragraphs 4 and 5 of
the said Order.
Further to our comments in the Annexure referred to above, we report
that:
i. 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:
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 or
those books;
iii. The Balance Sheet, Profit and Loss Account and dealt with by this
report are in agreement with the books of account;
iv. In our opinion and to the best of our information and according to
explanations given to us, the financial statements, read together with
the notes thereon, comply with the accounting standards referred to in
sub-section (3C) of Section 211 of the Act, 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, subject to the following.
(a) Note No.6: Regarding non provision of interest on the term loan &
Over draft Amount.
(b) Note No. 7: Non provision of depreciation on Plant & Machinery.
(c) Note No. 8: Suspension of trading in securities of the company by
the BSE non filing of listing requirements and other guidelines of the
relevant authorities / law.
(d) Note No. 9: Non provision of Interest on deposits and non following
of the provisions of the Companies Act, 1956.
The impact of above notes on profit & Loss A/c is not ascertainable.
In the case of;
a) the Balance Sheet, of the state of affairs of the company as at
March 31, 2010;
b) the Profit and Loss Account, of the Loss for the year ended on that
date; and
(e) On the basis of written representations received from the directors
and taken on record by the Directors, we report that none of the
directors is disqualified as on March 31,2010 from being appointed as a
director in terms of clause (g) of sub-section (1) of Section 274 of
the Act.
ANNEXURE TO AUDITORS REPORT TO THE MEMBER OF SHEEL INTERNATIONAL
LIMITED
Annexure to the auditors report of even date to the members of the
Sheel International Limited on the Financial Statements for the year
ended March 31st 2010.
Based upon the audit procedures performed for the purpose of reporting
the true and fair view of the financial statements and in terms of the
information and explanations given to us and the books and records
examined by us in the normal course of audit, we report that;
(i) a) The Company has not maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
b) Company has not physically verified the fixed assets during the
year, hence discrepancy, if any, cannot be commented.
c) In our opinion, a substantial part of fixed assets have not been
disposed off during the year.
(ii) a) There is no Inventory in the company so that aforesaid clause
regarding physical verified by the management is not applicable.
b) Because of Nil Stock during the year, clause is not applicable.
c) The Company need not to maintain any records of inventory because
there is no inventory.
(iii) The Company is not maintaining register under section 301 of the
companies Act, 1956, hence it is not possible to us to give the report
on the transaction related to parties covered under section 297 & 299
of the companies Act. As per the explanation given by the management,
Company has taken unsecured loan of Rs. 1,50,000/- From Jay shree
Investment Pvt. Ltd., during the year and the previous balance was Rs.
92,04.315/- (i.e. from companies covered in the register maintained
under section 301 of the Act).
(iv) In our opinion, there are adequate internal control systems
commensurate with the size of the Company and the nature of its
business, for the fixed assets and for the sale of services. During the
course of our audit, no major weakness has been noticed in the internal
controls in respect of these areas.
(v) According to the information and explanation given to us, there was
no transaction taken place during the year with any party covered under
section 301 of the Companies Act. However we have not been provided any
register to be maintained as per provisions of the Act and therefore,
Para 4 (v) and (b) are not applicable to the company.
(vi) According to the information and explanation given to us, the
company has accepted deposit from Non-Resident Indians of Rs.
93,63,810/- in earlier years. The company has not complied with the
provisions of section 58A of the Companies Act, 1956, viz submission of
statement in lieu of advertisement and return of deposit etc. and
certain directives issued by the Reserve Bank of India. However as per
the explanation given to us such deposits are within the limits
specified under section 58A of the Act. However in the current
financial year the company has written off this deposit through P &L
Appropriation Account.
(vii) According to the information and explanation given to us, the
company is not having any internal audit system.
(viii) According to the information and explanation given to us, the
Central Government has not prescribed maintenance of cost records under
clause (d) of sub-section (1) of section 209 of the Companies Act, 1956
by the Company.
(ix) The Company has following dues payable in respect of income tax
dues for the various assessment year which are as under
Rs. 7,46,000/- for the A.Y. 1996-97
Rs. 87,137/- for the A.Y. 1997-98
Rs. 9,49,589/- for the A.Y. 1998-99
Rs. 1,40,215/- for the A.Y. 1998-99 (TDS)
Rs. 6,000/- for the A.Y. 1999-2000
And in respect of the wealth tax, sales tax, custom duty and excise
duty no information has been provided to us in respect of undisputed
amount as at 31 March 2010, for the period more than six months from
the date they become payable. Further we have not been provided with
any tax assessment orders.
(x) The Company has accumulated losses at the end of the financial year
2009-10 Rs. 3,01,64,224/- which is less than 50% of its net worth, and
the company has not incurred any cash losses during the year.
(xi) The Company has defaulted in the repayment of dues to financial
institutions and banks. The Amount of Default is unascertainable
because no interest was provided in the books of Accounts for the year,
the amount standing in the books is Rs. 2,74,35,024/-/
(xii) The Company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities.
(xiii) The Company is not a chit fund of a nidhi/mutual benefit fund
/society. Accordingly, the provisions of clause 4(xii) of the Order are
not applicable to the Company.
(xiv) The Company is not dealing in trading of shares, securities,
debentures and other investments.
(xv) The Company has not given guarantee for loans taken by others from
banks of financial institutions, the terms and conditions whereof in
our opinion are not applicable to the Company.
(xvi) In our Opinion and according to the explanation provided to us,
this clause is not applicable to the company.
(xvii) Based on an overall examination of the Balance Sheet and of the
Company, we report that no funds raised on short terms basis have been
used for long term investment, (excludes permanent working capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
Section 301 of the Act. Accordingly, the provisions of clause 4(xviii)
of the order ate not applicable to the Company.
(xix) The Company did not create any security in respect of the
debenture issued, this clause is not applicable to the company.
(xx) The Company has not raised any money by public issues during the
year. Accordingly, the provisionally of clause 4(xx) of the Order are
not applicable to the Company.
(xxi) No fraud on or by the Company has been noticed of reported during
the year.
FOR MANOJ SANGEETA & ASSOCIATES
Chartered Accountant
Sd/-
MANOJ KUMAR
Chartered Accountant M.NO-098161
PLACE : NEW DELHI
DATE: 02 AUGUST, 2010
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