Mar 31, 2014
Ganesh Holding Limited.
We have audited the accompanying financial statements of Ganesh Holding
Limited. ("the Company"), which comprise the Balance Sheet as at March
31,2014, and the Statement of Profit and Loss for the period then
ended, and cash flow statement for the year then ended , and a summary
of significant accounting policies and other explanatory information.
Management''s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial
statements that give a true and fair view of the financial position,
financial performance of the Company in accordance with the Accounting
Standards referred to in sub-section (3C) of section 211 of the
Companies Act, 1956 ("the Act"). 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 Responsibilty
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures 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 material misstatement of the financial statements, whether
due to fraud or error. In making thoes 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. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Emphasis of Matter
Refer to note no 7 of financial statement .The Company had bought and
sale commodities through broker Anand Rathi Commodities Limited who has
register with National Stock Exchange Limited. Due to NSEL scam all
stock as on the date of scam has not delivered and business has
stopped, also fund has not been released by NSLL.
Due to pendency of proceeding all undelivered stock except minor
adjustment as on 31st March 2014 except minor adjustment is show as a
stock in trade in the financial statement. Hence we are unable to
comment on stock as on 31st march 2014.
Opinion
Subject to Emphasis of Matter para ,In our opinion and to the best of
our information and according to the explanations given to us, the
financial statements give the information required by the Act
Standards, 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 statement of affairs of
the Company as at March 31,2014,
(b) In the case of the Statement of Profit and Loss, of the profit for
the year then ended on that date: and
(c) In case of cash flow statement, of the cash flow of the year ended
on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (4 A) of section 227 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the 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 appear s from our examination of thoes
books.
c. The Balance Sheet and Statement of Profit and Loss, dealt with by
this Report are in agreement with the books of account.
d. In our opinion, the Balance Sheet and Statement of Profit and Loss
comply with the Accounting Standards referred to in subseetion (3C) of
section 211 the Companies Act, 1956.
e. On the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
Annexure to Auditors'' Report
(Referred to in Paragraph 3 of our report of even date)
I. In respcct of its Fixed Assets: As per the information and
cxplanation given to us , the company does not have any Fixed assets
and hence in our opinion the requirement of clause (i) (a), (i) (b) and
(i) (c) of paragraph 4 of the order is not applicable.
II. In respect of inventories: The Company had bought and sold
commodities through broker Anand Rathi Commodities Limited who was
register with National Stock Exchange Limited. Due to NSEL scam all
stock as on the date of scam has not delivered and business has
stopped, also fund has not been released by NSEL. In August 2013 the
committee of NSEL has decided to pay money to investor in small
installment. From the month of August 2013 the Company has receiving
amount in small chunk.
Due to pendency of proceeding all as on 31 st march 2014 is show as a
stock in trade in the financial statement ending 31st march 2014. Hence
we are unable to comment on clause II of the order.
III. In respect of loans, secured or unsecured granted or taken by the
Company to /from companies firm or other parties covered in the
register, maintained u/s. 301 of the Companies Act 1956
a-d) As per the information and explanation given to us , the company
has not granted any loan secured and unsecured to Company , firm or
other related party covered in the registered maintained under section
301 of the Companies Act, 1956 during the year . Accordingly , in our
opinion the requirement of clause (iii) (b) to (iii) (d) of paragraph 4
of the order are not applicable to the Company.
e-g) As per the information and explanation given to us , the Company
has not taken any laon , sccured and unsecured to Company . Firm or
other party covered in the register maintained under section 301 of the
Companies Act, 1956 during the year , and hence , in our opinion , the
requirement of clause (iii)(f) to (iii)(g) of paragraph 4 of the above
order are not applicable to the Company.
IV. In our opinion, and according to the information and explanations
given to us, there is an adequate internal control procedure
commensurate with the size of the company and the nature of its
business with regards to purchase of Inventory, fixed assets and sales
of goods.
V. In respect of transactions entered in the register maintained in
pursuance of section 301 of the companies Act 1956.
(a) To the best of our knowledge and belief and according to the
information and explanation given to us, transaction that needed to be
entered into the register has been so entered.
(b) Transaction made in pursuance of contracts or arrangements entered
into the register maintained under section 301 and exceeding the value
of five lacs rupees in respect of any party during the year, these in
our opinion and according to the information and explanation given to
us, have been made at price which are reasonable have regard to
prevailing market price at the relevant time.
VI. The Company has not accepted any deposits from the Public,
therefore, the provisions of Section 58A and 58AA of the Companies Act,
1956 and the rules framed there under and the directives issued by the
Reserve bank of India are not applicable.
VII. As per information and explanations given to us and in our
opinion, the company does not have internal audit system. however
company has proper internal control.
VIII. We have been informed that the maintenance of cost records has
not been prescribed by the central government under section 209(1) (d)
of the companies Act, 1956.
IX. According to the informationiiictc-ivsii and explanation given to
us in respeet Of statutory and other dues;
(a) The Company has been generally regular in depositing undisputed
statutory dues, including, Provident Fund, Employees'' state Insurance,
Income tax, Sales tax, customs Duty, and any Other statutory dues with
the appropriate authorities during the year
(b) According to the information & explanation given to us there are no
undisputed amounts payable in respect of Income tax, Sales Tax, Custom
Duty which were outstanding at the year end for a period of more than
6 month from the date they became payable.
(c) According to the information & explanation given to us, there are
no dues of income tax, Custom duty, Sales tax and cess, which have not
been deposited on account of any dispute.
X. The Company does not have accumulated losses at the end of
financial year and has not incurred cash losses during the year covered
by our audit and in the immediately preceding financial year.
XI. Based on our audit procedures and as per the Information and
Explanation given to us by the management, we are of the opinion that
the company has not defaulted in the repayment of dues of financial
institution, banks.
XII. According to the information and explanations given to us, the
Company has not given any loans and advances on the basis of security
by way of pledge of shares, debentures and other secuiters
XIII. In our opinion and according to the information and explanations
given to us, the nature of activities of the company does not attract
any special statue applicable to chit fund and nidhi / mutual benefit
fund / societies.
XIV. The Company is not dealing or trading in shares, Securities,
debentures and other Investment, Accordingly, the provisions ciause
4(xiv) of paragraph 4 of the companies (Audited report) Order, 2003 are
not applicable to the company.
XV. In our opinion according to information and explanation given to
us the company has not given any guarantee for loans taken by others
from banks and financial institutions.
XVI. In our opinion, and according to the information and explanations
given to us, and on overall basis, the Term Loans have been applied for
the purpose for which they obtained.
XVII According to the information and explanations given to us and on
the overall examination of Balance Sheet of the company we are of the
opinion that the fund raised on short term basis has not been used for
Long Term investments.
XVIII. The Company has not made preferential allotment of shares of the
parties and companies covered in the register maintained u/s section 301
of the Act during the year.
XIX. The Company has not issued any debentures during the year. Therefore
the provision of clause (xix) of paragraph of the companies
(Auditor''s Reports) Order, 2003 is not applicable to the company.
XX. The Company has not raised any money by public issue during the
year. Therefore the provision of clause (xx) of paragraph of the
companies (Auditor''s Roports) Order, 2003 is not applicable to the
company.
XXI. To the best of our Knowledge and belief and according to the
information an explanation given to us, no material fraud on or by the
company was noticed or reported during the year.
For Chatur vedi sohan & Co
Chartered Accountant
Rajiv Chauhan
Partner Date : 28th May 2014
M.No : 143866 Place : Mumbai
Mar 31, 2012
1. We have audited the attached Balance Sheet of GANESH HOLDINGS
LIMITED as at 31st March, 2012 and also the Statement of Profit and
Loss 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.
2. 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 presentation of the
financial statements. We believe that our audit provides a reasonable
basis for our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003 as
amended by the Companies (Auditor's Report) (Amendment) Order 2004
(together the 'Order'), issued by the Government of India in terms of
Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure
a statement on the matters specified in paragraphs 4 and 5 of the said
Order.
4. We have to further report that:
(a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(b) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
(c) The balance sheet and the Statement of Profit and Loss dealt with
by this report are in agreement with the books of account;
(d) In our opinion, the balance sheet and the Statement of Profit and
Loss 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 representations received from the
directors, as on 31st March, 2012 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2012 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read together with
significant accounting policies and notes on accounts in schedule 8
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 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 the Statement of Profit and Loss, of the Profit for
the year ended on that date.
(iii) In the case of the Cash Flow Statement of the Cash Flows for the
year ended on that date.
ANNEXURE TO THE AUDITORS' REPORT
Referred to in paragraph 3 of our report of even date:
(i) As per the information and explanations given to us, the Company
does not have any fixed assets and hence in our opinion the requirement
of clause (i)(a), (i)(b), and (i)(c) of Paragraph 4 of the above Order
are not applicable.
(ii) As per the information and explanations given to us, the Company
does not have any inventory and hence in our opinion the requirement of
clause (ii)(a), (ii)(b) and (ii)(c) of Paragraph 4 of the above Order
are not applicable.
(iii) (a) As per the information and explanations given to us, the
company has not granted any loan secured or unsecured to Company, firms
or other party covered in the register maintained under section 301 of
the Companies Act, 1956 during the year. Accordingly, in our opinion,
the requirement of clauses (iii)(b) to (iii)(d) of paragraph 4 of the
above Order are not applicable to the Company.
(b) As per the information and explanations given to us, the company
has not taken any loan, secured or unsecured to Company, firms or other
party covered in the register maintained under section 301 of the
Companies Act, 1956 during the year, and hence, in our opinion, the
requirement of Clause (iii)(f) to (iii)(g) of paragraph 4 of the above
Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory and with regard to the
sale of inventory. During the course of cur audit, no major weakness
has been notice in the Internal controls.
(v) Based on the audit procedures applied by us and according to the
Information and explanations provided by the management, we are of the
opinion that there are no transactions except for the loan transactions
referred to in Paragraph (iii) above, that needs to be entered into the
register maintained under section 301 of the Companies Act, 1956 have
been so entered. Accordingly, in our opinion and according to the
information and explanations given to us, requirement of Paragraph
4(v)(b) of the aforesaid Order is not applicable to the company.
(vi) In our opinion and according to the information and explanations
given to us, the company has not accepted deposits from the public to
which provisions of Sections 58 A and 58 AA or any other relevant
provisions of the. Companies Act, 1956 and the Companies (Acceptance of
Deposits) Rules, 1975 are applicable. We are informed by the management
that no order has been passed by the Company Law Board or National
Company Law Tribunal or Reserve Bank of India or any Court or any other
Tribunal.
(vii) As informed to us though there is no formal internal audit
system, in our opinion, the Company's internal system is adequate and
commensurate with the size and nature of its business.
(viii) The Central Government has not prescribed the maintenance of
cost records under section 209 (1) (d) of the Companies Act, 1956;
(ix) (a) According to the records of the company, the company is
generally regular in depositing with appropriate authorities undisputed
statutory dues including provident fund, investor education protection
fund, employees' state insurance, income-tax, sales-tax, wealth tax,
service tax, custom duty, excise-duty, cess and other statutory dues
applicable to it.
(b) According to the information and explanation given to us, no
undisputed amounts payable in respect of income-tax, service-tax,
wealth-tax, sales tax, customs duty, excise duty and cess were
outstanding as at 31st March, 2012 for a period of more than six months
from the date they became payable.
(c) According to the information and explanations given to us, there
are no dues of income tax, wealth tax, service tax, sales tax, customs
duty, and excise duty and cess, which have not been deposited on
account of any dispute.
(x) The company has no operational accumulated losses. The company's
losses are primarily due to gift of shares. The company has not
incurred cash losses during the financial year covered by our audit and
also in the immediately preceding financial year.
(xi) Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that there
are no dues payable to financial institution, debenture holder, or
bank.
(xii) Based on our examination of documents and records, we are of the
opinion that the company has not granted 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 or nidhi, mutual benefit
fund/society. Therefore the provision of clause 4 (xiii) of the Order
are not applicable to the company.
(xiv) Based on our examination of the records and evaluation of the
related internal controls, we are of the opinion that proper records
have been maintained of the transaction and contracts and timely
entries have been made in those records. We also report that the
company has held the shares, securities, debentures and other
investments in its own name.
(xv) The Company has not given any guarantee for loans taken by others
from banks or financial institutions. Accordingly, provisions of clause
(xv) of Paragraph 4 of the aforesaid Order are not applicable to the
Company.
(xvi) During the period covered by our audit report, no term loan has
been raised by the Company and, therefore, requirement of clause (xvi)
of Paragraph 4 of the Order is not applicable to the Company.
(xvii) Based on our examination of the balance sheet of the Company as
at 31st March 2012, we report that the Company has not raised any long
term funds during the year and no funds raised on short term basis have
been used for the long term purposes.
(xviii) According to the information and explanations given to us,
during the period covered by our audit report, the Company has not made
preferential allotment of shares to parties and companies covered in
the register maintained under section 301 of the Companies Act, 1956
and, therefore, the requirement of clause (xviii) of Paragraph 4 of the
Order is not applicable to the Company.
(xix) According to the information and explanations given to us, during
the period covered by our audit report, the Company has not issued any
debentures and hence in our opinion, the question of creating
securities does not arise.
(xx) According to the information and explanations given to us, during
the period covered by our audit report, no public issue has been made
by the Company during the year and requirement of clause (xx) of
Paragraph 4 of the Order is not applicable to the Company.
(xxi) Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and to the
best of our knowledge and belief, and according to the information and
explanations given to us by the management, which have been relied upon
by us, we report that no fraud on or by the Company has been noticed or
reported during the course of our audit.
For and on behalf of
KARNAVAT & CO.
Chartered Accountants
Firm Reg. no. 104863W
(Viral Joshi)
Partner
Membership No. 137686
192, Dr. D. N. Road
Mumbai-400001
Dated: 17-05-2012
Mar 31, 2010
1. We have audited the attached Balance Sheet of GANESH HOLDINGS
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.
2. 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 presentation of the
financial statements. We believe that our audit provides a reasonable
basis for our opinion.
3. As required by the Companies (Auditors Report) Order, 2003 as
amended by the Companies (Auditors Report) (Amendment) Order 2004
(together the Order"), issued by the Government of India in terms of
Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure
a statement on the matters specified in paragraphs 4 and 5 of the said
Order.
4. We have to further report that:
(a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
(b) In our opinion, proper books of account as required by law have
been kept by the company so far as appears from our examination of
those books;
(c) The balance sheet and the profit and loss account dealt with by
this report are in agreement with the books of account;
(d) In our opinion, the balance sheet and the profit and loss account
dealt with by this report comply with the accounting standards referred
to in sub-section (3C) of section 211 of the Companies Act, 1956;
(e) On the basis of written representations received from the
directors, as on 31st March, 2010 and taken on record by the Board of
Directors, we report that none of the directors is disqualified as on
31st March, 2010 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956;
(f) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts read together with
significant accounting policies and notes on accounts in schedule 8
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 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 the Profit and Loss Account, of the Profit for the
year ended on that date.
(iii) In the case of the Cash Flow Statement of the Cash Flows for the
year ended on that date.
ANNEXURE TO THE AUDITORS REPORT
Referred to in paragraph 3 of our report of even date:
(i) As per the information and explanations given to us, the Company
does not have any fixed assets and hence in our opinion the requirement
of clause (i)(a), (i)(b), and (i)(c) of Paragraph 4 of the above Order
are not applicable.
(ii) As per the information and explanations given to us, the Company
does not have any inventory and hence in our opinion the requirement of
clause (ii)(a), (ii)(b),and (ii)(c) of Paragraph 4 of the above Order
are not applicable.
(iii) (a) As per the information and explanations given to us, the
company has not granted any loan secured or unsecured to Company, firms
or other party covered in the register maintained under section 301 of
the Companies Act, 1956 during the year. Accordingly, in our opinion,
the requirement of clauses (iii)(b) to (iii)(d) of paragraph 4 of the
above Order are not applicable to the Company.
(b) As per the information and explanations given to us, the company
has not taken any loan, secured or unsecured to Company, firms or other
party covered in the register maintained under section 301 of the
Companies Act, 1956 during the year, and hence, in our opinion, the
requirement of Clause (iii)(e) to (iii)(f) of paragraph 4 of the above
Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchases of inventory and with regard to the
sale of inventory. During the course of our audit, no major weakness
has been notice in the internal controls.
(v) Based on the audit procedures applied by us and according to the
information and explanations provided by the management, we are of the
opinion that there are no transactions except for the loan transactions
referred to in Paragraph (iii) above that needs to be entered into the
register maintained under section 301 of the Companies Act, 1956 have
been so entered. Accordingly, in our opinion and according to the
information and explanations given to us, requirement of Paragraph
4(v)(b) of the aforesaid Order is not applicable to the company.
(vi) In our opinion and according to the information and explanations
given to us, the company has not accepted deposits from the public to
which provisions of Sections 58 A and 58 AA or any other relevant
provisions of the Companies Act, 1956 and the Companies (Acceptance of
Deposits) Rules, 1975 are aplicable, We are informed to the management
that no order has been passed by the company Law Board or National
Company Law Tribunal or Reserve Bank of India or any Court or any other
Tribunal.
(vii) The company internal audit system is commensurate with size and
nature of business.
(viii) The Central Government has not prescribed the maintenance of
cost records under section 209 (1) (d) of the Companies Act, 1956;
(ix) (a) According to the records of the company, the company is
generally regular in depositing with appropriate authorities undisputed
statutory dues including provident fund, investor education protection
fund, employees state insurance, income-tax, sales-tax, wealth tax,
service tax, custom duty, excise-duty, cess and other statutory dues
applicable to it.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of income-tax, service-tax,
wealth-tax, sales-tax, customs duty, excise duty and cess were
outstanding as at 31-3-2010 for a period of more than six months from
the date they became payable.
(c) According to the information and explanations given to us, there
are no dues of income tax, wealth tax, service tax, sales tax, customs
duty, and excise duty and cess, which have not been deposited on
account of any dispute.
(x) The company has no operational accumulated losses. The companys
losses are primarily due to gift of shares. The company has not
incurred cash losses during the financial year covered by our audit and
also in the immediately preceding financial year.
(xi) Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that there
are no dues payable to financial institution, debenture holder or bank.
(xii) Based on our examination of documents and records, we are of the
opinion that the company has not granted 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 or nidhi, mutual benefit fund/
society. Therefore the provision of clause 4 (xiii) of the Order are
not applicable to the company.
(xiv) Based on our examination of the records and evaluation of the
related internal controls, we are of the opinion that proper records
have been maintained of the transaction and contracts and timely
entries have been made in those records. We also report that the
company has held the shares, securities, debentures and other
investments in its own name except the shares pledged with institutions
on behalf of other companies.
(xv) The Company has not given any guarantee for loans taken by others
from banks or financial institutions. Accordingly, provisions of clause
(xv) of Paragraph 4 of the aforesaid Order are not applicable to the
Company.
(xvi) During the period covered by our audit report, no term loan has
been raised by the Company and, therefore, requirement of clause (xvi)
of Paragraph 4 of the Order is not applicable to the Company.
(xvii) Based on our examination of the balance sheet of the Company as
at 31st March 2010, we report that the Company has not raised any long
term funds during the year and no funds raised on short term basis have
been used for the long term purposes.
(xviii) According to the information and explanations given to us,
during the period covered by our audit report, the Company has not made
preferential allotment of shares to parties and companies covered in
the register maintained under section 301 of the Companies Act, 1956
and, therefore, the requirement of clause (xviii) of Paragraph 4 of the
Order is not applicable to the Company.
(xix) According to the information and explanations given to us, during
the period covered by our audit report, the Company has not issued any
debentures and hence in our opinion, the question of creating
securities does not arise.
(xx) According to the information and explanations given to us, during
the period covered by our audit report, no public issue has been made
by the Company during the year and requirement of clause (xx) of
Paragraph 4 of the Order is not applicable to the Company.
(xxi) Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and to the
best of our knowledge and belief, and according to the information and
explanations given to us by the management, which have been relied upon
by us, we report that no fraud on or by the Company has been noticed or
reported during the course of our audit.
For and on behalf of
KARNAVAT & CO.
Chartered Accountants
Firm Reg.no 104863W
Sd/-
192, Dr. D.N. Road (Krishna Karundia)
Mumbai - 400001
Partner
Dated :12th August, 2010 Membership No. 036681
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