Mar 31, 2014
We have audited the accompanying financial statements of IYKOT HITECH
TOOLROOM LIMITED (the Company) which comprises of Balance sheet as at
31st March 2014, the Statement of Profit and Loss and the Cash flow
Statement for the year then ended and a summary of the significant
accounting policies and other explanatory notes.
Management''s Responsibility for the financial statements
The Company''s Management is responsible for the preparation of these
financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the company in
accordance with the Accounting Standards referred to in subsection (3C)
of section 211 of the Companies Act, 1956 (the Act) read with the
General Circular 15/2013dated 13th September 2013 of the Ministry of
Corporate affairs in respect of section 133 of the Companies Act 2013
and General Circular 08/2014 dated 4th April 2014 with respect to the
financial statements 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
Auditors'' Responsibility
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 the disclosures in the financial statements. The
procedures selected depend on the auditors'' judgement including the
assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the
company''s preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the company''s internal control. An audit also includes
evaluating the appropriateness of the 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
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Act in the manner so required and give a
true and fair view in conformity with the accounting principles
generally accepted in India
a) in the Case of the Balance Sheet of the State of affairs as at 31st
March 2014
b) in the case of the Statement of Profit and loss of the Loss for the
year ended on that date and
c) in the case of the Cash flow statement of the cash flows for 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 in terms of Section 227 (4A)
of the Companies Act,2013, we give in the Annexure a statement on the
matters specified in paragraphs 4 and 5 of 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 purposes of our
audit
b) In our opinion , proper books of account as required by law have
been kept by the Company so far as it appears from our examination of
those books
c) The Balance Sheet, the Statement of Profit and Loss and the Cash
flow statement dealt with by this report are in agreement with the
books of account
d) In our opinion, the Balance Sheet, the Statement of the Profit and
Loss and the Cash Flow Statement dealt with by this report comply with
the Accounting Standards referred to in subsection (3C) of section 211
of the Companies Act, 1956 read with General Circular15/2013 dated 13th
September 2013 of the Ministry of Corporate affairs in respect of
section 133 of the Companies Act 2013 except non provision of gratuity
and leave encashment to employees.
e) On the basis of written representations received from the Directors
as at 31st March 2014 taken on record by the Board of Directors , none
of the Directors is disqualified as at 31st March 2014 from being
appointed as a Director in terms of Section 274 (1) (g) of the Act on
the said Date.
Annexure to the Independent Auditor''s Report Referred to in paragraph I
under other Legal and Regulatory requirements of our report of even
dated
i) In respect of its fixed assets,
a) The company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets
b) The fixed assets were physically verified by the management once in
a year, which in our opinion, provides for physical verification of all
the fixed assets. According to the information and explanation given
to us, no materials discrepancies were noticed on such verification.
c) The fixed assets disposed during the year, in our opinion, do not
constitute a substantial part of the fixed assets of the company and
such disposal has, in our opinion not affected the going concern status
of the company.
ii) In respect of inventory,
a) As explained to us, the inventories of finished goods and semi
finished goods and raw materials and factory and depot were physically
verified during the year by the management. In our opinion, having
regard to the nature and location of the stocks, the frequency of
verification is reasonable.
b) In our opinion and according to the information and explanation
given to us, the procedures of physical verification of inventories
followed by the management were reasonable and adequate in relation to
the size of the company and the nature of the business.
c) In our opinion and according to the information and explanations
given to us, the company has maintained proper records of inventories
and no material discrepancies were noticed on physical verification.
iii) The Company has not granted any loan, secured or unsecured, to
companies / firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956.
iv) In respect of loans secured or unsecured taken by the companies/
firms /parties covered in the register maintained under section 301 of
the Companies Act, 1956, according to the information and explanations
given to us,
a) No. of Parties 2
Amount outstanding as
at 31.03.2014 Rs 4485000/-
Maximum outstanding
involved during the year Rs 4485874/-
b) the rate of interest and other terms and conditions of loans, in our
opinion, prima facie not prejudicial to the interests of the company.
c) The payments of principal and interests amount have been regular and
as per stipulations.
d) There are no overdue amounts outstanding at the Balance Sheet date.
v) 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 for the
purchase of inventory, and fixed assets and for sale of goods and
services. During the course of our audit, we have not observed any
major weakness in such internal control system.
vi) In respect of the contracts of arrangements referred to in Section
301 of the Companies Act, 1956:
a. In our opinion and according to the information and explanations
given to us, there are transactions made in pursuance of contracts or
arrangements that need to be entered in the register maintained under
Section 301 of the Companies Act, 1956 have been so entered.
b. In our opinion and according to the information and explanations
given to us, there are transactions made in pursuance of
contracts/arrangements entered in the Register maintained under section
301 of the Companies Act, 1956 and exceeding the value of Rs.5,00,000
in respect of each party during the year is NIL.
vii) According to the information and explanations given to us, the
Company has not accepted any deposit from the public. Therefore, the
provisions of Clause (vi) of paragraph 4 of the Order are not
applicable to the Company.
viii) In our opinion, the Company has no internal audit system though
the paid up capital and free reserves of the company has exceeded Rs 50
lakh and the average annual turnover has exceeded Rs 5 crores for a
period of three consecutive financial years immediately preceding the
financial year concerned under paragraph 4(vii) of the order.
commensurate with the size and nature of its business.
ix) We have been informed by the company that the Central Government
has not prescribed the maintenance of cost records under Section 209
(1)(d) of the Companies Act, 1956 and the rules made there under.
x) In respect of statutory dues:
a. According to the records of the Company, undisputed statutory dues
including Provident Fund, Employees'' State Insurance, Income-Tax, Sales
Tax, Service Tax, Customs Duty, Excise Duty, Cess, and other statutory
dues have been generally regularly deposited with the appropriate
authorities.
b. According to the information and explanations given to us, no
undisputed amounts payable in respect o the aforesaid dues were
outstanding as at March 31,2014 for a period of more than six months
form the date of becoming payable is NIL.
xi) The Company does have accumulated losses at the end of the
financial year of Rs. 4327748.44/-. The Company has not incurred cash
loss during the financial year covered by the audit and also has not
incurred cash loss in the immediate preceding financial year.
xii) Based on our audit procedures and according to the information and
explanations given to us, we are of the opinion that the Company has
not defaulted in repayment of dues to banks.
xiii) In our opinion and according to the explanations given to us and
based on the information available, no loans and advances have been
granted by the Company on the basis of security by way of pledge of
shares, debentures and other securities.
xiv) In our opinion, the company is not a chit fund / nidhi / mutual
benefit fund/society. Therefore, the provisions of clause (xiii) of
paragraph 4 of the Order are not applicable to the Company.
xv) The Company has not dealing or trading in shares, securities,
debentures and other investments and hence paragraph 4(xiii) of the
other is not applicable. Therefore, the provisions of clause (xiv) of
paragraph 4 of the Order are not applicable to the Company.
xvi) The Company has not given guarantees for loans taken by others
from banks and financial institutions. Therefore, the provisions of
clause (XV) of paragraph 4 of the Order are not applicable to the
Company.
xvii) The Company has raised new terms loan of Rs 699000/- during the
year. The term loans outstanding at the beginning of the year and those
raised during the year have been applied for the purposes for which
they are raised.
xviii) According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the Company, we are of
the opinion that there are no funds raised on short term basis that
have been used for long term investment.
xix) The Company has not made any preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Companies Act, 1956.
xx) The Company has not raised any debentures. Therefore, the
provisions of clause (XiX) of paragraph 4 of the Order are not
applicable to the Company.
xxi) The Company has not raised any monies by way of public issues
during the year and hence paragraph 4(XX) of the order is not
applicable to this company.
xxii) In our opinion and according to the information and explanations
given to us, no material fraud on or by the Company has been noticed or
reported during the year.
For Ramadoss & Co.
Chartered Accountants
Firm Regn No. 002879S
Place : Chennai K. Ramadoss
Partner
Date : 30.05.2014 Membership No.019176
Mar 31, 2012
1. We have audited the attached Balance Sheet of IYKOT HITECH TOOLROOM
LIMITED as at March 31st 2012, the statement of Profit and Loss and the
Cash Flow Statement for the year ended on that date annexed thereto
which we have signed under reference to this report. 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 of
our opinion.
3. As required by the companies (Auditor's Report) Order, 2003 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 commends in the Annexure referred to in paragraph 3
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 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, 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, statement of Profit and Loss and
Cash Flow statement dealt with by this report are in compliance 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 March 31st 2012 and taken on record by the Board of Directors is
disqualified as on March 31st 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 the
significant accounting policies and 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 the case of Balance Sheet, of the state of affairs of the Company
as at March 31 st 201 2.
ii) In the case of the statement of Profit and Loss, of the profit for
the year ended on that date; and
iii) In the case of the Cash Flow statement, of the cash flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 4 OF THE AUDITOR'S REPORT TO THE
MEMBERS OF IYKOT HITECH TOOLROOM LTD (THE COMPANY) FOR THE YEAR ENDED
31s1 MARCH 2012.
1. In respect of its fixed assets:
a) The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets on the
basis of available information.
b) As explained to us, all the fixed assets have been physically
verified by the management in a phased periodical manner, which in our
opinion is reasonable having regard to the size of the Company and
nature of its assets. No material discrepancies were noticed onsuch
physical verification.
c) In our opinion, the Company has not disposed off a substantial part
of its fixed assets during the year and the going concern status of the
Company is not affected.
2. In respect of its inventories:
a) The inventories have been physically verified during the year by the
management. In our opinion, the frequency of verification reasonable.
b) In our opinion and according to the information and explanations
given to us, the procedures of physical verification of inventories
followed by the management 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 inventories. As
explained to us, there were no material discrepancies noticed on
physical verification of inventories as compared to the book records.
3. In respect of the loans, secured or unsecured, granted or taken by
the Company to / from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
a) The Company has not granted any loans to companies, firms or other
parties covered in the register maintained under section 301 of the
Companies Act, 1956.
b) The Company has taken loan during the year from Companies, firms or
other parties covered in the register maintained under section 301 of
the Companies Act, 1956.
i) No. of Parties 4
Total amount!
outstanding / Rs.572291 1.51
Maximum amountl outstanding / Rs.5752356.51
Amount involved Rs.5752356.51
ii) In our opinion, the interest and other terms and conditions of loan
are prima facie not prejudicial to the interest of the Company.
iii) There are no amounts which have been over due as at the year end.
4. 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 for the
purchases of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal control
system.
5. In respect of the contracts of arrangements referred to in Section
301 of the Companies Act, 1956:
a) In our opinion and according to the information and explanations
given to us, there are transactions made in pursuance of contracts or
arrangements that need to be entered in the register maintained under
Section 301 of the Companies Act, 1956 have been so entered.
b) In our opinion and according to the information and explanations
given to us, there are transactions made in pursuance of contracts /
arrangements entered in the Register maintained under section 301 of
the Companies Act, 1956 and exceeding the value of Rs.500000/- in
respect of each parly during the year is NIL
6. According to the information and explanations given to us, the
Company has not accepted any deposit from the Public. Therefore, the
provisions of Clause (vi) of paragraph 4 of the Order are not
applicable to the Company.
7. In our opinion, the Company has no internal audit system
commensurate with the size and nature of its business.
8. We have been informed by the Company that the Central Government
has not prescribed the maintenance of cost records under Section 209
(1) (d) of the Companies Act, 1956 and the rules made there under.
9. In respect of statutory dues:
a) According to the records of the Company, undisputed statutory dues
including Provident Fund, Employees's State Insurance, Income Tax,
Sales Tax, Service Tax, Customs Duty, Cess, and other statutory dues
have been generally regularly deposited with the appropriate
authorities. According to the information and explanations given to us,
no undisputed amounts payable in respect of the aforesaid dues were
outstanding as at March 31, 2012 for a period of more than six months
from the date of becoming payable is NIL.
10. The Company does have accumulated losses at the end of the
financial year of Rs.2477268/-. The Company has not incurred cash
losses during the financial year covered by the audit and also in the
immediate proceeding financial year.
11. Based on our audit procedures and according to the information and
explanations given to us, we are of the opinion that the Company has
not defaulted in repayment of dues to banks.
12. In our opinion and according to the explanations given to us and
based on the information available, no loans and advances have been
granted by the Company on the basis of security by way of pledge of
shared, debentures and other securities.
13. In our opinion, the Company is not a chit fund / nithi / mutual
benefit fund / society. Therefore, the provisions of Clause (xiii) of
paragraph 4 of the Order are not applicable to the Company.
14. The Company has not dealing or trading in shares, securities,
debentures and other investments and hence paragraph 4 (xiii) of the
other is not applicable. Therefore, the provisions of Clause (xiv) of
paragraph 4 of the Order are not applicable to the Company.
15. The Company has not given guarantees for loans taken by others
from banks and financial institutions. Therefore the provisions of
Clause (XV) of paragraph 4 of the Order are not applicable to the
Company.
16. The Company has not raised new term loan during the year. The term
loan outstanding at the beginning of the year have been applied for the
purposes for which they are raised.
17. According to the information and explanations given to us and on
an overall examination of the Balance Sheet of the ompany, we are of
the opinion that there are no funds raised on short term basis that
have been used for long term investment.
18. The Company has not made any preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Companies Act, 1956.
19. The Company has not raised any debentures. Therefore, the
provisions of Clause (xix) of paragraph 4 of the Order are not
applicable to the Company.
20. The Company has not raised any monies by way of Public issues
during the year and hence paragraph 4 (xx) of the Order is not
applicable to this Company.
21. In our opinion and according to the information and explanations
given to us, no material fraud on or by the Company ahs been noticed or
reported during the year.
For Ramadoss & Co, Chartered' Accountants
Firm Regn No.002879S
(K. Ramadoss)
Place : Chennai Partner
Dated: 31.05.2012 Membership No. 019176
Mar 31, 2010
We have audited attached Balance Sheet of IYKOT HITECH TOOL ROOM
LIMITED (the Company ) as at 31st March 2010, and also the Profit and
Loss Account and the Cash flow Statement of the Company for the year
ended on that date, annexed thereto, which we have signed under
reference to this report. These financial statements are the
responsibility of the Company Ãs management. Our responsibility is to
express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial
statements are free of material 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 the management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
As required by the Companies (Auditors Report) Order, 2003 issued by
the Central Government of India in terms of sub-section 227 (4A) of the
Companies Act, 1956 we enclose in the Annexure a statement on the
matters specified in paragraph 4 and 5 of the said order to the extent
applicable.
Further to our comments in the Annexure referred to in paragraph 3
above, we state 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, the Profit and Loss Account and the Cash flow
statement referred to in this report are in agreement with the books of
account
(d) In our opinion, the Balance Sheet , the Profit and Loss account and
the cash flow statement dealt with by this report comply with the
accounting standards referred to in Section 211 (3C) of the Companies
Act, 1956.
(e) On the basis of written representations received from the
Directors, and taken on record by the Board of Directors, we report
that none of the directors is disqualified as on 31st March 2010 from
being appointed as directors in terms of Clause (g) of sub - section
(1) of section 274 of the Companies Act, 1956.
(f) In our opinion and as per the information and according to the
explanations given to us , the said Balance Sheet , the Profit and Loss
Account and the Cash flow statement read 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:
(i) in the case of the Balance sheet , of the State of affairs of the
Company as on 31st March 2010 and
(ii) in the case of the Profit and Loss Account of the Profit of the
Company for the year ended on that date and
(iii) in the case of the Cash flow statement , of the cash flow of the
Company for the year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF THE AUDITORSÃ REPORT TO THE
MEMBERS OF IYKOT HITECH TOOL ROOM LIMITED ON THE ACCOUNTS FOR THE YEAR
ENDED MARCH 31, 2010
1. a. The company has maintained proper records to show full
particulars including location of fixed assets.
b. As explained to us, the company has a system of physical
verification once in a year. In our opinion, the frequency of
verification is reasonable having regard to the size of the company and
the nature of its fixed assets. We have been informed that no
discrepancies were noticed during the physical verification.
c. The company has not disposed off a substantial part of its fixed
assets during the year and the going concern status of the company is
not affected.
2. a. During the year, the inventories have been physically verified
at reasonable intervals by the management and in our opinion the
frequency of verification is adequate and reasonable.
b. In our opinion and according to the information and explanations
given to us, the procedures of physical verification followed by the
management are reasonable and adequate in relation to the size of the
company and the nature of its business.
c. On the basis of our examination of the records of inventories, we
are of the opinion that the company is maintaining proper records of
inventories. The discrepancies noticed on the physical verification of
inventories as compared to book records were not material and have been
properly dealt within the books of accounts.
3. a. According to the information and explanation given to us, the
company has not given any loans, but has taken unsecured loan from
Companies, firms and other parties covered in the register maintained
under sec 301 of the Companies Act, 1956.
No. of Parties 1
Amount involved Rs 1640873.86
Maximum outstanding at
Anytime during the year Rs 1640873.86
Outstanding as at 31.03.10 Rs 1640873.86
b. In our opinion the interest and other terms and conditions of loan
are Prima facie not prejudical to the interest of the company.
c. There are no amounts which have been over due as at the year end.
4. 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 nature of its business
with regard to the purchase of inventories, fixed assets and with
regard to sale of goods. During the course of our audit, no major
discrepancies has been noticed in the underlying internal controls.
5. a. Based on the audit procedures and according to the information
and explanation given to us, the transaction that need to be entered in
the register in pursuance of section 301 of the Companies Act, 1956
have been so entered.
b. According to the information and explanation given to us, in respect
of transactions entered in the register maintained in pursuance of
section 301 of the Companies Act, 1956, and exceeding the value of Rs.5
lakhs in respect of any party during the year is Nil.
6. As the Company has not accepted any deposits from the public,
paragraph 4 (vi) of the order is not applicable.
7. The Company has no Internal Audit System and we were informed that
it is under consideration of the management.
8. We have been informed by the management the Central Government has
not prescribed the maintenance of cost records under Section 209 (1)
(d) of he Companies Act, 1956 and the rules made there under.
9. a. As explained to us, the statutory dues payable by the company
comprises of Provident Fund, Employees State Insurance, Excise duty
,Sales tax, Income tax, Listing fee, Customs duty, Wealth tax.
b. According to the records of the Company and information and
explanation given to us, the company is regular in depositing Income
tax ,Wealth tax, Customs duty, Excise duty undisputed statutory dues as
referred in above and no amount is out standing as at 31st March 2010
for a period of more than six months from the date they become payable
10. The company has Rs.143.38 Lakhs accumulated losses at the end of
the financial year 31st March 2010. Further the company has not
incurred any cash losses during the current financial year and also in
the immediately preceding Financial Year.
11. The Company did not have any out standing dues to any Financial
Institution, Banks during this year.
12. As the company has not granted any loans and advances on the basis
of security by way of pledge of shares, debentures and other
securities, paragraph 4 (XII) of the order is not applicable.
13. As the company is not a Chit Fund / Nidhi / Mutual Benefit Fund /
Society to which the provision of special statue relating to chit fund
are applicable, paragraph 4 (XIII ) of the order is not applicable.
14. As the company is not dealing or trading in Shares, Securities,
Debentures and other investments, paragraph 4 (XIV ) of the order is
not applicable.
15. As informed to us, the company has not given any guarantee for
loan taken by others from Banks or Financial Institutions.
16. The Company has term loan includes (excluding interest on term
loan ) deferment of Sales tax loan as at 31st March 2010 is Rs.Nil
17. The Company has no long term loan of Sales tax deferment as
referred to in paragraph 16 above.
18. As the company has not made preferred allotment of shares to
parties and companies covered in the register maintained under Section
301 of the Companies Act, 1956, paragraph 4 (XVIII) of the order is not
applicable.
19. As the company has not issued any debentures, paragraph 4 (XIX )
of the order is not applicable.
20. During the year the company has not raised any money by way of
public issue, paragraph 4 (XX) of the order is not applicable.
21. Based on the audit procedures performed and 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 the year ended 31st March 2010
For Ramadoss & Associates
Chartered Accountants
(K.Ramadoss)
Partner.
Mem. No. 19176.
Place : Chennai
Dated : 31.07.2010