Mar 31, 2014
1. We have audited the accompanying financial statements of Sptedstge C
tun me re ia Is Limited ("the Company") which comprise the Balance
Sheet as at 31st March, 201L the Statement of Profit and Loss and the
Cash Flow Statement for the year then ended and a summary of
significant accounting policies and other explanatory'' information,
which we hive signed tinder reference to this report.
Managements 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 Hows of the eompam in
accordance with the Accounting Standards referred to in sub-section
(3C) of section 211 of the Companies Act, 1956 of India (the ''Vcf'')
read with the General Circular 15/2013 dated !3th September, 2013 of
the Ministry of Corporate Affairs in respect of Section 133 of the
Companies Act, 2013 and in accordance with the accounting principles
generally accepted in India. This responsibility includes the design,
implementation and maintenance of internal control relevant to the
preparation and presentation of the financial statements that give a
true and fair view and are free from material misstatement, whether due
to fraud or error.
Auditor''s Responsibility
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 lire Institute of Chartered
Accountants of India. Those- standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatements.
4. An audit involves performing pwcedures to obtain audit evidence
about the amounts and disclosures in the financial statements. The
procedures selected depend on the auditor''s judgment, including the
assessment of the risks of materia! misstatement of .the financial
Statements, whether due to fraud or error. Tn making those risk
assessments, the. auditor considers internal control relevant to the
Company''s preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the
circumstances but not for the purpose of expressing an op''inio''ti on
the effectiveness of the Company''s internal control. An audit also
includes evaluating the appropriateness of accounting polices used and-
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of tile financial
statements.
£ We believe that the audit evidence we have obtained is sufficient and
appropriate to provide basis for our audit opinion.
Opinion
6. In our opinion and to the best of our information and according to
the explain at ions given to usr the accompanying financial statement
give the information required by the Companies: Act. J 956 in the
manner SO required and give a true and fair, view in. con form itv with
the accounting principles generalt> accepted in India;
i. in the ease, of the Balance Sheet, of the stats of affairs of the
Company as at 31st. March, 2014:
ii. in the ease of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
lii. In the case of the Cash Flow Statement, of the cash Hows of the
Company for the year ended on that date.
Report on Other Legal and Regulatory Requirements
7. As required by die Companies (Auditor''s Report) Order. 2003 ("the
Order") issued by the Central Government oftndia in terms of Section
227(4A) of the Companies Act. 1*356 and on the basis of such checks of
the books and records of the company as. we considered appropriate and
according to the information and explanation given to us, we give in
the Annexure a statement on the matters specified in paragraphs 4 and 5
of the order.
|i 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 tor 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 appears from our examination of those
books;
C) The Balance Sheet, the statement of Profit and Loss and 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 Cash Flow statement comply with the Accounting Standards notified
under the Act read with the General Circular 15/2013 dated 13th
September, 2013 of the Ministry of Corporate Affairs in respect of
Section 133 of the Companies Aet: 2013.
e) On the basis of written representations received from the Directors
as on 31st March. 2014 and taken on record by the Board of Directors,
none of the directors is disqualified as on 31 st March, 2014 from
being appointed as a Director in terms of Section 274(1) (g) of the
Act.
ANNEXURE TO THE INDEPENDENT AUDITORS5 REPORT
On the basis Of each checks as we considered appropriate and in terms
of information and explanations given to us we state that:
1. The Company has not granted I taken any loans secured or unsecured
, to/from companies , firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956.Therefore, the
provisions of Clause (iii.a) to (iii;g) of paragraph 4 of the Order are
not applicable and hence not commented upon.
2. There is an adequate internal control system commensurate with the
size of the Company and the nature of !ts business for the income by
way of Commission & purchase of investments.
3. in our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered into a
register maintained under section 301 of the Act. In view of die above
clause (v) (b) of para 4 of the order is not applicable.
4. The Company has not accepted any Deposits from the public during
the year.
5. In our opinion, the Company lias an adequate Interna I audit system
commemsurate with size and nature of its business.
6. a) According to the records of the Company, there were no
undisputed amounts payable in respect of Income Tax* Sales Tax, Wealth
fax. Custom Duty, Excise Duty and Service Tax which have remained
outstanding as at the last day of financial year, tor a. period of more
than six months from the date they became applicable other then
Professional Tax amounting to Rs. NIL which hrtve remained outstanding
as at the last day of financial year, for a period of more than six
months from the date they become applicable
b) There is no disputed amounts payable in respect of income Tax. Sales
Tax, Wealth Tax. Custom Duty, Excise Duly and Service Tax.
7; The Company does not have accumulated losses at die end of the
financial year. The company has not incurred cash losses during the
current financial year and in .die immediately preceding financial
year.
S. In our opinion and according to the information and explanations
given to us. the company docs not have any dues payable to the
financial institutions or bank Or debenture holders,
9. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares.
10. ''Hie special Statute applicable to Unit Tund Nidhi or Mutual
Benefit /society are not applicable to company.
11 In our opinion and according to the information and explanations
given to us, the Company has not dealt in shares during the year. All
investments al the close of the year are held in the name of the
company.
12. In our opinion and according Lo the information and explanations
given to us, company has pledged its own investments in shares towards
loan Laken by others from bank, the terms and conditions of the
pledged, are not prima facie, prejudicial to the interests of the
company except that the said pledged are not covered by any security.
13. The company has riot obtained any term leap during the year.
14, On the basis of an overall examination of the Balance Sheet of the
Company, in our opinion and according to the information and
explanations given to us there are no funds raised on short-term basis
which have been used for long-term investment.
15, The Company has not made any preferential allotment of shares to
any parties and companies covered in the register maintained under
Section 301 of the Companies Act, 1956 during the year.
16, During the course of our examination of the books and records of
the company, and according to information and explanations provided by
the management, no fraud on or by the company was noticed or reported
during the year.
17. Clauses (i);(ii)h(viii) ,(xix) and (xx) of paragraph 4 of
Companies (Auditors'' Report) Orderh20G3 are not applicable in the ease
of company for the current year, since til our opinion here is no
matter to he reported thereon.
For and of behalf of
B.L. Dashrda & Associates
Charted Accountants
F.R. No: 112615W
Sushant Metha
Partnes
M.No: 112489
Place: Mumbai
Dated: 30th May 2014
Mar 31, 2012
We have audited the attached Balance Sheet of SPEEDAGE COMMERCIALS
LIMITED, as at 31st March, 2012 and also the Profit and Loss account
for the year ended on that date annexed thereto and the cash flow
statement for the year ended on that date. 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.
1. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
2. As required by the Companies (Auditor's Report) Order, 2003 issued
by the Central Government of India in terms of Section 227(4A) of the
Companies Act, 1956, (hereinafter referred to as the Act), we enclose
in the Annexure a statement on the matters specified in paragraphs 4 &
5 of the said order, to the extent applicable.
3. Further to our comments in the Annexure referred to above, we
report that:
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c) The Balance Sheet, Profit & Loss Account and cash flow statement,
dealt with by this report are in agreement with the books of account;
d) In our opinion, the Balance Sheet, Profit 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;
e) On the basis of written representation received from the Directors,
as on 31st March, 2012 and taken on record by the Board of Directors,
we report that none of the directors is disqualified as on 31st March
2012 from being appointed as a Director in terms of clause (g) of
sub-section (1) of section 274 of Companies Act;
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to notes
thereon and schedules annexed hereto, give the information required, by
the Companies Act, 1956 in the manner so required and give a true and
fair view:
i) in the case of the Balance Sheet, of the State of affairs of the
Company as at 31st March, 2012; and
ii) in the case of Profit and Loss Account, of the Profit of the
Company for the year ended on that date.
iii) 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 1 of our report of even date on the accounts
for the year ended 31st March, 2012 of SPEEDAGE COMMERCIALS LIMITED.
On the basis of such checks as we considered appropriate and in terms
of information and explanations given to us we state that:
1. a) The Company had taken interest free unsecured loans from one
company listed in the register maintained under section 301 of the
Companies Act, 1956. The maximum balance outstanding during the year
was Rs. NIL/- and the year end outstanding is Rs. NIL/-.
b) The loans granted by the company are at call and no stipulations
have been made regarding repayment of loans.
c) The terms and conditions of the loan are prima facie not prejudicial
to the interest of the company.
d) The Company had granted interest free unsecured loans to one company
and one director listed in the register maintained under section 301 of
the Companies Act, 1956. The year end outstanding is Rs 1,50,000/- and
the maximum amount of loan outstanding during the year was Rs.
1,50,000/-
e) In our opinion and according to the information and explanations
given to us, the other terms and conditions on which loans have been
granted to companies listed in the register maintained under section
301 of the Companies Act, 1956 are not prima facie, prejudicial to the
interest of the companies.
2. There is an adequate internal control system commensurate with the
size of the Company and the nature of its business for the income by
way of Commission & purchase of investments.
3. In our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered into a
register maintained under section 301 of the Act. In view of the above
clause (v) (b) of para 4 of the order is not applicable.
4. The Company has not accepted any Deposits from the public during
the year.
5. In our opinion, the Company has an adequate internal audit system
commensurate with size and nature of its business.
6. a) According to the records of the Company, there were no
undisputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom Duty, Excise Duty and Service Tax which have remained
outstanding as at the last day of financial year, for a period of more
than six months from the date they became applicable other then
Professional Tax amounting to Rs. 14,300/- which have remained
outstanding as at the last day of financial year, for a period of more
than six months from the date they. become applicable.
b) There is no disputed amounts payable in respect of Income Tax, Sales
Tax, Wealth Tax, Custom Duty, Excise Duty and Service Tax.
7. The Company does not have accumulated losses at the end of the
financial year. The company has not incurred cash loss during the
current financial year but has incurred cash loss in the immediately
preceding financial year.
8. In our opinion and according to the information and explanations
given to us, the company does not have any dues payable to the
financial institutions or bank or debenture holders.
9. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares.
10. The special Statute applicable to Unit Fund Nidhi or Mutual
Benefit /society are not applicable to company.
11. In our opinion and according to the information and explanations
given to us, the Company has not dealt in shares during the year. All
investments at the close of the year are held in the name of the
company.
12. In our opinion and according to the information and explanations
given to us, company has pledged its own investments in shares towards
loan taken by others from bank, the terms and conditions of the
pledged, are not prima facie, prejudicial to the interests of the
company except that the said pledged are not covered by any security.
13. The company has not obtained any term loan during the year.
14. On the basis of an overall examination of the Balance Sheet of the
Company, in our opinion and according to the information and
explanations given to us there are no funds raised on short-term basis
which have been used for long-term investment.
15. The Company has not made any preferential allotment of shares to
any parties and companies covered in the register maintained under
Section 301 of the Companies Act, 1956 during the year.
16. During the course of our examination of the books and records of
the company, and according to information and explanations provided by
the management, no fraud on or by the company was noticed or reported
during the year.
17. Clauses (i), (ii), (viii), (xix) and (xx) of paragraph 4 of
Companies (Auditors' Report) Order,2003 are not applicable in the case
of company for the current year, since in our opinion there is no
matter to be reported thereon.
FOR AND ON BEHALF OF
B. L DASHARDA & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN NO. 112615W
SUSHANT MEHTA
PARTNER
M. NO. 112489
Place : MUMBAI
Dated : 25TH JULY, 2012
Mar 31, 2011
We have audited the attached Balance Sheet of SPEEDAGE COMMERCIALS
LIMITED, as at 31st March, 2011 and also the Profit and Loss account
for the year ended on that date annexed thereto and the cash flow
statement for the year ended on that date. 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.
1. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
2. As required by the Companies (Auditor's Report) Order, 2003 issued
by the Central Government of India in terms of Section 227(4A) of the
Companies Act, 1956, (hereinafter referred to as the Act), we enclose
in the Annexure a statement on the matters specified in paragraphs 4 &
5 of the said Order, to the extent applicable.
3. Further to our comments in the Annexure referred to above, we
report that;
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c) The Balance Sheet, Profit & Loss Account and cash flow statement,
dealt with by this report are in agreement with the books of account;
d) In our opinion, the Balance Sheet , Profit 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;
e) On the basis of written representation received from the Directors,
as on 31st March, 2011 and taken on record by the Board of Directors,
we report that none of the directors is disqualified as on 31st March
2011 from being appointed as a Director in terms of clause (g) of
sub-section (1) of section 274 of Companies Act;
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to notes
thereon and schedules annexed hereto, give the information required, by
the Companies Act, 1956 in the manner so required and give a true and
fair view:
i) in the case of the Balance Sheet, of the State of affairs of the
Company as at 31st March, 2011; and
ii) in the case of Profit and Loss Account, of the Profit of the
Company for the year ended on that date.
iii) 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 1 of our report of even date on the accounts
for the year ended 31st March, 2011 of SPEEDAGE COMMERCIALS LIMITED.
On the basis of such checks as we considered appropriate and in terms
of information and explanations given to us we state that:
1. a) The Company had taken interest free unsecured loans from one
company listed in the register maintained under section 301 of the
Companies Act,1956. The maximum balance outstanding during the year
was Rs. 4,50,000/- and the year end outstanding is Rs. NIL.
b) The loans granted by the company are at call and no stipulations
have been made regarding repayment of loans.
c) The terms and conditions of the loan are prima facie not prejudicial
to the interest of the company.
d) The Company had granted interest free unsecured loans to one company
and one director listed in the register maintained under section 301 of
the Companies Act,1956. The year end outstanding is Rs NIL/- and the
maximum amount of loan outstanding during the year was Rs.24,99,430/-
e) In our opinion and according to the information and explanations
given to us. the other terms and conditions on which loans have been
granted to companies listed in the register maintained under section
301 of the Companies Act, 1956 are not prima facie, prejudicial to the
interest of the companies.
2. There is an adequate internal control system commensurate with the
size of the Company and the nature of its business for the income by
way of Commission & purchase of investments.
3. In our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered into a
register maintained under section 301 of the Act. In view of the above
clause (v) (b) of para 4 of the order is not applicable.
4. The Company has not accepted any Deposits from the public during
the year.
5. In our opinion, the Company has an adequate Internal audit system
commemsurate with size and nature of its business.
6. a) According to the records of the Company, there were no
undisputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom Duty, Excise Duty and Service Tax which have remained
outstanding as at the last day of financial year, for a period of more
than six months from the date they became applicable other then
Professional Tax amounting to Rs.14,300/- which have remained
outstanding as at the last day of financial year, for a period of more
than six months from the date they become applicable
b) There is no disputed amounts payable in respect of Income Tax, Sales
Tax, Wealth Tax, Custom Duty, Excise Duty and Service Tax.
7. The Company does not have accumulated losses at the end of the
financial year but has incurred cash losses during the current year.
8. In our opinion and according to the information and explanations
given to us, the company does not have any dues payable to the
financial institutions or bank or debenture holders.
9. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares.
10. The special Statute applicable to Unit Fund Nidhi or Mutual
Benefit /society are not applicable to company.
11. In our opinion and according to the information and explanations
given to us, the Company has not dealt in shares during the year. All
investments at the close of the year are held in the name of the
company.
12. In our opinion and according to the information and explanations
given to us, company has pledged its own investments in shares towards
loan taken by others from bank, the terms and conditions of the
pledged, are not prima facie, prejudicial to the interests of the
company except that the said pledged are not covered by any security.
13. The company has not obtained any term loan during the year.
14. On the basis of an overall examination of the Balance Sheet of the
Company, in our opinion and according to the information and
explanations given to us there are no funds raised on short-term basis
which have been used for long-term investment.
15. The Company has not made any preferential allotment of shares to
any parties and companies covered in the register maintained under
Section 301 of the Companies Act, 1956 during the year.
16. During the course of our examination of the books and records of
the company, and according to information and explanations provided by
the management, no fraud on or by the company was noticed or reported
during the year.
17. Clauses (i),(ii),(viii) ,(xix) and (xx) of paragraph 4 of
Companies (Auditors' Report) Order,2003 are not applicable in the case
of company for the current year, since in our opinion there is no
matter to be reported thereon.
FOR AND ON BEHALF OF
B. L DASHARDA & ASSOCIATES
CHARTERED ACCOUNTANTS
FRNN0. 112615W
SUSHANT MEHTA
PARTNER
M.NO. 112489
Place : MUMBAI
Dated : 25TH MAY, 2011
Mar 31, 2010
We have audited the attached Balance Sheet of SPEEDAGE COMMERCIALS
LIMITED, as at 31st March, 2010 and also the Profit and Loss account
for the year ended on that date annexed thereto and the cash flow
statement for the year ended on that date. 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.
1. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
2. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of Section 227(4A) of the
Companies Act, 1956, (hereinafter referred to as the Act), we enclose
in the Annexure a statement on the matters specified in paragraphs 4 &
5 of the said Order, to the extent applicable.
3. Further to our comments in the Annexure referred to above, we
report that
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b) In our opinion, proper books of account as required by law have been
kept by the Company so far as appears from our examination of those
books;
c) The Balance Sheet, Profit & Loss Account and cash flow statement,
dealt with by this report are in agreement with the books of account;
d} In our opinion, the Balance Sheet , Profit 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;
e) On the basis of written representation received from the Directors,
as on 31s1 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 Companies Act;
f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts, subject to notes
thereon and schedules annexed hereto, give the information required, by
the Companies Act, 1956 in the manner so required and give a true and
fair view:
i) in the case of the Balance Sheet, of the State of affairs of the
Company as at 31st March,2010; and
ii) in the case of Profit and Loss Account, of the Profit of the
Company for the year ended on that date.
iii) 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 1 of our
report of even date on the accounts for the year ended 31st March, 2010
of SPEEDAGE COMMERCIALS LIMITED.
On the basis of such checks as we considered appropriate and in terms
of information and explanations given to us we state that:
1. a) The Company has taken interest free unsecured loans from two
companies listed in the register maintained under section 301 of the
Companies Act,1956. The maximum balance outstanding during the year is
Rs. 12,50,000/- and the year end outstanding is Rs. 4,50,000/-.
b) The loans granted by the company are at call and no stipulations
have been made regarding repayment of loans.
c) The terms and conditions of the loan are prima facie not prejudicial
to the interest of the company.
d) The Company has granted an unsecured loans to one company and one
director listed in the register maintained under section 301 of the
Companies Act,1956. The year end outstanding and the maximum amount of
loan outstanding during the year was Rs.24,99.430/-
e) In our opinion and according to the information and explanations
given to us, the other terms and conditions on which loans have been
granted to companies listed in the register maintained under section
301 of the Companies Act,1956 are not prima facie, prejudicial to the
interest of the companies.
2. There is an adequate internal control system commensurate with the
size of the Company and the nature of its business for the income by
way of Commission & purchase of investments.
3. In our opinion and according to the information and explanations
given to us, there are no transactions that need to be entered into a
register maintained under section 301 of the Act. In view of the above
clause (v) (b) of para 4 of the order is not applicable.
4. The Company has not accepted any Deposits from the public during
the year.
5. In our opinion, the Company has an adequate Internal audit system
commemsurate with size and nature of its business.
6. a) According to the records of the Company, there were no
undisputed amounts payable in respect of Income Tax, Sales Tax, Wealth
Tax, Custom Duty, Excise Duty and Service Tax which have remained
outstanding as at the last day of financial year, for a period of more
than six months from the date they became applicable other then
Professional Tax amounting to Rs.11,800/- which have remained
outstanding as at the last day of financial year, for a period of more
than six months from the date they become applicable
b) There is no disputed amounts payable in respect of Income Tax, Sales
Tax, Wealth Tax, Custom Duty, Excise Duty and Service Tax,
7. The Company has no accumulated losses at the end of the financial
year.
8. In our opinion and according to the information and explanations
given to us, the company does not have any dues payable to the
financial institutions or bank or debenture holders.
9. The Company has not granted any loans and advances on the basis of
security by way of pledge of shares.
10. The special Statute applicable to Unit Fund Nidhi or Mutual
Benefit /society are not applicable to company.
11. In our opinion and according to the information and explanations
given to us, the Company has not dealt in shares during the year. All
investments at the close of the year are held in the name of the
company.
12. In our opinion and according to the information and explanations
given to us, company has pledged its own investments in shares towards
loan taken by others from bank, the terms and conditions of the
pledged, are not prima facie, prejudicial to the interests of the
company except that the said pledged are not covered by any security.
13. The company has not obtained any term loan during the year.
14. On the basis of an overall examination of the Balance Sheet of the
Company, in our opinion and according to the information and
explanations given to us there are no funds raised on short-term basis
which have been used for long-term investment.
15. The Company has not made any preferential allotment of shares to
any parties and companies covered in the register maintained under
Section 301 of the Companies Act, 1956 during the year.
16. During the course of our examination of the books and records of
the company, and according to information and explanations provided by
the management, no fraud on or by the company was noticed or reported
during the year.
17. Clauses (i),(ii),(viii) ,(xix) and (xx) of paragraph 4 of
Companies (Auditors Report) Order,2003 are not applicable in the case
of company for the current year, since in our opinion there is no
matter to be reported thereon.
FOR AND ON BEHALF OF
B. L. DASHARDA,& ASSOCIATES
CHARTERED ACCOUNTANTS
Place : MUMBAI
Dated :31st MAY, 2010. B . L. DASHARDA,
PARTNER
M.NO. 13708.
FRN NO. 112615W
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