Mar 31, 2012
1. We have audited the attached Balance Sheet of SCOPE INDUSTRIES
(INDIA) LIMITED, as at March 31, 2012, and the relating profit and loss
account and the Cash flow statement for the year ended on that date
annexed thereto. These Financial Statements are the responsibility of
the Company's management. Our responsibility is to express an opinion
on these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by 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, and
amendment thereto by the Companies (Auditor's Report ) (Amendment)
Order, 2004, issued by the Central Government of India in terms of
sub-section (4A) of section 227 of The Companies Act, 1956, we enclose
in the Annexure, a statement on the matters specified in paragraphs 4
and 5 of the said Order.
4. Further to our comments in the Annexure referred to in paragraph
(3) 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 the Profit and Loss Account and Cash flow
statement dealt with by this report are in agreement with the books of
account;
(iv) In our opinion, the Balance Sheet and the Profit and Loss Account
and Cash flow statement dealt with by this report comply with the
accounting standards referred to in sub-section (3C) of section 211 of
the Companies Act, 1956;
(v) On the basis of written representations received from the
directors, as on March 31, 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;
(vi) Since the central government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act,1956 nor has it issued any rules under the said section,
prescribed the manner in which such cess is to be paid, no cess is due
and payable by the Company
(vii) In our opinion and to the best of our information and according
to the explanations given to us, they said accounts together with the
notes thereon 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 March 31, 2012; and
(b) In the case of the Profit and Loss Account, of the Profit for the
year ended on that date.
(c) In the case of the cash flow statement, of the cash flows of the
company for the year ended on that date.
Annexure to the Auditors' Report to the Members of SCOPE INDUSTRIES
(INDIA) LIMITED for the year ended March 31, 2012
(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) The Fixed assets have been physically verified by the management
during the year in accordance with a phased program of verification
which, in our opinion is reasonable having regard to the size of the
company and the nature of its assets, According to the information
furnished to us , no material discrepancies have been noticed on such
verification.
(c) No substantial part fixed assets have been disposed off by the
company during the year.
(ii) (a) The inventory has been physically verified by the management
during the year. In our opinion,the frequency of such verification is
responsible.
(b) The procedures for the 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 has maintained proper records of inventory and there
are no discrepancies noticed on verification between the physical
stocks and the book of records.
(iii) (a) The company has not granted any loans to/ from parties
covered in the register maintained under section 301 of the companies
Act, 1956. In view of clause (iii) (a) above, the clauses (iii) (b),
(iii) (c) (iii) (d) are not applicable.
(e) According to the information and explanations given to us, the
company was taken loans from the two parties covered in the register
maintained under section 301 of the Companies Act 1956. The maximum
amount outstanding during the year was Rs 19, 05,000 and the yearend
balance of such loan was Rs 19, 05,000.
(f) In our opinion, the rate of interest and other terms and conditions
on which the loan has been taken from parties covered in the register
maintained under section 301 of the Companies Act., 1956 are not, prima
facie, prejudicial to the interest of the Company.
(g) Since, the periods of payment of interest and repayment of
principle have not been stipulated in the agreement, we are unable to
comment whether the payment of interest and repayment of principle are
regular or not.
(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the company and the nature of its business, with
regard to purchase of inventory and fixed assets and for the sale of
goods and services. During the course of our audit, no major weakness
has been noticed in the internal controls system.
(v) According to the information and explanations given to us, we are
of the opinion that there are no contracts or arrangements that need to
be entered into the register maintained under section 301 of the Act.
(vi) In our opinion and according to the information and explanations
given to us, the company has not accepted any deposits within the
meaning of Sections 58A and 58AA of the Companies Act, 1956 and the
Companies (Acceptance of Deposits) Rules, 1975 with regard to the
deposits accepted from the public.
(vii) In our opinion the company has an internal audit system
commensurate with its size and the nature of its business.
(viii) According to the information and explanations given to us,
maintenance of cost records has not been prescribed by the central
government under the clause (d) of sub-section (1) of section 209 of
the Act.
(ix) (a) According to the information and explanations given to us and
on the basis of our examination of the records of the Company, amounts
deducted/ accrued in the books of account in respect of undisputed
statutory dues including Income-tax and other material statutory dues
have generally been regularly deposited during the year by the Company
with the appropriate authorities, except for certain cases of tax
deducted at source (amounting Rs.2436900) and Professional tax
(Amounting Rs 32,320 ) where there have been delays for more than180
days.
(b) According to the information and explanation given to us, there are
no due of income-tax, wealth- tax, sales-tax, and cess, which have not
been deposited on account of any dispute.
(x) The company has been registered for a period of not less than five
years and the accumulated losses of the company at the end of the
financial year is more than fifty percent of its Net worth and the
Company has not incurred any cash losses during the year and
immediately preceding financial year.
(xi) Based on our audit procedures and on the information and
explanation given to us, we are of the opinion the company has not
defaulted in the payment of any dues.
(xii) According to the information explanation given to us, the company
has not granted any loans and advances on the basis of security by way
pledge of shares, debentures and other securities.
(xiii) The company is not a chit fund or nidhi/mutual benefit
fund/society. Accordingly, the provisions of clause 4 (xiii) of the
said order are not applicable to the company.
(xiv) The Company does not deal or trade in shares, securities,
debentures and other investments.
(xv) According to the information and explanations given to us, the
company has not given guarantees for loans taken by others from banks
or financial institutions.
(xvi) The company has not raised any new term loans during the year
hence the question of reporting on these clause is not required.
(xvii) According to the information and explanations given to us, and
on overall examination of the Balance Sheet of the company, in our
opinion, the funds raised on short-term basis have not been used for
long-term investments.
(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. Accordingly, the question of reporting on
whether the price at which such shares have been issued is prejudicial
to the interest of the company does not arise.
(xix) The company has not issued any debentures. Accordingly, the
question of creating security or charge for such debentures does not
arise.
(xx) The company has not raised any money by public issues during the
year. Accordingly, the question of disclosure of end use of such monies
does not arise.
(xxi) Accordingly 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 Ramasamy Koteswara Rao & Co;
Chartered Accountants
FRN:010396S
Sd/-
(C V Koteswara Rao)
Place: Hyderabad Partner
Date: 27-08-2012 Membership No. 028353
Mar 31, 2010
We have audited the attached Balance Sheet of "Scope Industries (india)
Limited" (Formerly known as : Jain Marble Udhyog Limited) as at 31st
March 2010. The 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 have 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 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 finan- cial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
1. As required by the Companies (Auditors Report) Order, 2003, issued
by the Central Government 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 and 5 of the said order wherever applicable.
2. 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, and to the best of our information and according to
the explanations given to us, the said accounts read with the notes
thereon give the information required by the Companies Act, 1956, in
manner so required.
c) 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 such
books.
d) The Companys Balance Sheet dealt with by this report is in
agreement with the Books of Accounts.
e) In our opinion the Balance Sheet is in compliance with the
Accounting Standards referred to in sub-section (3C) of Section 211 of
the Companies Act, 1956 to the extent applicable.
f) On the basis of the written representation from the directors and
taken on record by the Board of Directors, We report that none of the
Director is disqualified as on 31st March, 2010 from the appointment as
a Director in terms of Clause (g) of sub-section (1) of Section 274 of
the Companies Act, 1956.
g) In our opinion and to the best of our information and according to
the explanations given to us, the said Balance Sheet and Profit and
Loss Account together with the notes thereon 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 case of the Balance sheet, of the state of affairs of the Company
as at 31st March, 2010
ii) Since there are no commercial operations are carried out during the
financial period under audit no Profit & Loss Account is prepared; and
iii) In case of Cash Flow Statement, of the cash flow for the year
ended on that date.
ANNEXURE TO AUDITORS REPORT (REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF
EVEN DATE)
1. There are no fixed assets held by the Company and hence provisions
of Clause 4(i) are not applicable.
2. The Clauses pertaining to physical verification, the adequacy of
procedures involved and adjustment for material discrepancies with
respect to inventories do not apply to the Company as there is no
inventory of stocks of raw material, finished goods, work in progress.
3. The Company has neither granted nor taken any loans, secured or
unsecured to or from the Companies, firms or other parties covered in
the Register maintained under section 301 of the Companies Act, 1956.
4. In our opinion and according to the information and explanation
provided to us, Clause on Internal Control procedures with regard to
purchase of fixed assets is not applicable to the Company as the
Company has not purchased any fixed during the period.
5. In our opinion and according to the information and explanations
given to us there were no transactions that need to be entered into a
register in pursuance of Section 301 of the Act during the year.
6. The company has not accepted any deposits from the public and
consequently, directives issued by the Reserve Bank of India, the
Provisions of Sections 58A, 58AA, or any other provisions of the
Companies Act, 1956 and the rules made there under are not applicable.
7. The Company has no Internal Audit System.
8. As explained to us, the Central Government has not prescribed the
maintenance of Cost Records Under Section 209(1) (d) of the Companies
Act, 1956 for the this type of Company.
9. (a) According to the records of the company, undisputed statutory
dues including
Provident fund, Income tax, Customs duty, cess and other statutory dues
as applicable, have generally been regularly deposited with the
appropriate authorities. Further, there are no statutory dues as at the
last day of financial year for a period of more than six months from
the date they became payable.
(b) According to the records of the Liaison Office there are no
outstanding dues of Income tax / Sales tax / Wealth tax / Service tax /
Customs duty / Excise duty / cess on account of any dispute.
10. The Accumulated losses at the end of the current financial year
are more than 100% of its Net Worth of the Company and the Company has
incurred cash losses of Rs. 1,73,055/- in the current financial year
and cash losses in the financial year immediately preceding Current
financial year were Rs. 1,30,138/-.
11. The Company has not borrowed any monies from financial
institutions, banks or debenture holders. Therefore, the clause
pertaining to default in repayment of dues does not apply.
12. The Company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The Company is not a Chit fund, Nidhi, mutual benefit fund or a
society. Therefore, the provisions of clause 4(xiii) of the Companies
(Auditors Report) Order, 2003 are not applicable to the company.
14. 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.
15. In our opinion and based on the information and explanation given
to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions and consequently, the
provisions of clause 4 (xv) of the Companies (Auditors Report) Order,
2003 are not applicable to the Company.
16. In our opinion and based on the information and explanation given
to us, no term loans were borrowed during the year and consequently,
the provisions of clause 4 (xvi) of the Companies (Auditors Report)
Order, 2003 are not applicable to the Company.
17. According to the information and explanations given to us and on
an overall examination of the balance sheet of the Company, the company
has taken any loans and hence use of funds borrowed on short term basis
for Long term investment and vice versa is not applicable to the
Company.
18. The Company has not made any preferential allotment of shares to
the parties covered in the Register maintained under Section 301 and
hence the provisions of clause 4 (xviii) of the Companies (Auditors
Report) Order, 2003 do not apply.
19. The Company has not issued any debentures and consequently the
provisions of creating securities for the debentures do not apply.
20. The Company has not raised any monies by issue of securities to
public. Consequently, no disclosure on the end use is required.
21. Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and as per
the information and explanation given by the management, we report that
no fraud on or by the Company has been noticed or reported during the
course of our audit.
for S.S.SRAVAN & ASSOCIATES
CHARTERED ACCOUNTANTS
Sd/-
PLACE: HYDERABAD S. S. Sravan
DATE: 31.08.2010 Partner
Mem. No. 213488
Firm Regn. No. 010624S
Mar 31, 2009
We have audited the attached Balance Sheet of "JAIN MARBLE UDHYOG
LIMITED" as at 31st March 2009. The 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 have 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 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.
1. As required by the Companies (Auditors Report) Order, 2003, issued
by the Central Government 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 and 5 of the said order wherever applicable.
2. 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, and to the best of our information and according to
the explanations given to us, the said accounts read with the notes
thereon give the information required by the Companies Act, 1956, in
manner so required.
c) 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 such
books.
d) The Companys Balance Sheet dealt with by this report is in
agreement with the Books of Accounts.
e) In our opinion the Balance Sheet is in compliance with the
Accounting Standards referred to in sub-section (3C) of Section 211 of
the Companies Act, 1956 to the extent applicable.
f) On the basis of the written representation from the directors and
taken on record by the Board of Directors, We report that none of the
Director is disqualified as on 31st March, 2009 from the appointment as
a Director in terms of Clause (g) of sub-section (1) of Section 274 of
the Companies Act, 1956.
g) Attention is Invited to:
Clause 1 of the Schedule 9 Notes to Accounts specifies that the books
of accounts have been prepared on Going Concern Assumption. However,
we are of the opinion that the Company has disposed substantially all
its fixed assets and paid off term liabilities and has no activity
during the period. Further, the Company has suffered Cash Losses during
the Current Financial Year and also the immediately preceding Financial
Year and hence going concern assumption is not applicable to the
Company. Hence, assets should be restated at realizable values on
recovery and liabilities be restated at amounts as they crystallize.
However, it is not possible for us to ascertain these amounts due to
absence of necessary information.
Subject to the above, in our opinion and to the best of our information
and according to the explanations given to us, the said Balance Sheet
and Profit and Loss Account together with the notes thereon 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 case of the Balance sheet, of the state of affairs of the Company
as at 31st March, 2009
ii) Since there are no commercial operations are carried out during the
financial period under audit no Profit & Loss Account is prepared; and
iii) In case of Cash Flow Statement, of the cash flow for the year
ended & that date.
Annexure to Auditors Report (Referred to in our report of even date)
1. There are no fixed assets held by the Company and hence provisions
of Clause 4(i) are not applicable.
2. The Clauses pertaining to physical verification, the adequacy of
procedures involved and adjustment for material discrepancies with
respect to inventories do not apply to the Company as there is no
inventory of stocks of raw material, finished goods, work in progress.
3. The Company has neither granted nor taken any loans, secured or
unsecured to or from the Companies, firms or other parties covered in
the Register maintained under section 301 of the Companies Act, 1956.
4. In our opinion and according to the information and explanation
provided to us, Clause on Internal Control procedures with regard to
purchase of fixed assets is not applicable to the Company as the
Company has not purchased any fixed during the period.
5. In our opinion and according to the information and explanations
given to us there were no transactions that need to be entered into a
register in pursuance of Section 301 of the Act during the year.
6. The company has not accepted any deposits from the public and
consequently, directives issued by the Reserve Bank of India, the
Provisions of Sections 58A, 58AA, or any other provisions of the
Companies Act, 1956 and the rules made there under are not applicable.
7. The Company has no Internal Audit System.
8. As explained to us, the Central Government has not prescribed the
maintenance of Cost Records Under Section 209(1) (d) of the Companies
Act, 1956 for the this type of Company.
9. (a) According to the records of the Liaison Office, undisputed
statutory dues including Provident fund, Income tax, Customs duty, cess
and other statutory dues as applicable, have generally been regularly
deposited with the appropriate authorities. Further, there are no
statutory dues as at the last day of financial year for a period of
more than six months from the date they became payable.
(b) According to the records of the Liaison Office there are no
outstanding dues of Income tax / Sales tax / Wealth tax / Service tax /
Customs duty / Excise duty / cess on account of any dispute.
10. The Accumulated losses at the end of the current financial year
are more than 100% of its Net Worth of the Company and the Company has
incurred cash losses of Rs. 1,05,138/- in the current financial year
and cash losses in the financial year immediately preceding Current
financial year were Rs. 1,32,951/-.
11. The Company has not borrowed any monies from financial
institutions, banks or debenture holders. Therefore, the clause
pertaining to default in repayment of dues does not apply.
12. The Company has not granted loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13. The Company is not a Chit fund, Nidhi, mutual benefit fund or a
society. Therefore, the provisions of clause 4(xiii) of the Companies
(Auditors Report) Order, 2003 are not applicable to the company.
14. 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.
15. In our opinion and based on the information and explanation given
to us, the Company has not given any guarantee for loans taken by
others from banks or financial institutions and consequently, the
provisions of clause 4 (xv) of the Companies (Auditors Report) Order,
2003 are not applicable to the Company.
16. In our opinion and based on the information and explanation given
to us, no term loans were borrowed during the year and consequently,
the provisions of clause 4 (xvi) of the Companies (Auditors Report)
Order, 2003 are not applicable to the Company.
17. According to the information and explanations given to us and on
an overall examination of the balance sheet of the Company, the company
has taken any loans and hence use of funds borrowed on short term basis
for Long term investment and vice versa is not applicable to the
Company.
18. The Company has not made any preferential allotment of shares to
the parties covered in the Register maintained under Section 301 and
hence the provisions of clause 4 (xviii) of the Companies (Auditors
Report) Order, 2003 do not apply.
19. The Company has not issued any debentures and consequently the
provisions of creating securities for the debentures do not apply.
20. The Company has not raised any monies by issue of securities to
public. Consequently, no disclosure on the end use is required.
21. Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and as per
the information and explanation given by the management, we report that
no fraud on or by the Company has been noticed or reported during the
course of our audit.
For S.S.Sravan & Associates
Chartered Accountants
Sd/-
S. S. Sravan
Partner
Mem. No. 213488
Place : Hyderabad
Dated : 31.08.2009