Mar 31, 2015
We have audited the accompanying financial statements of DHOOT
INDUSTRIES LIMITED ("the company"), which comprise the Balance Sheet as
at 31 March 2015, the Statement of Profit and Loss, the 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
The Company's Board of Directors is responsible for the matters in
section 134(5) of the Companies Act, 2013 ("the Act") with respect to
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 principles generally
accepted in India, including the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provision of the Act
for safeguarding of the assets of the Company and for preventing and
detecting the frauds and other irregularities; selection and
application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation
and maintenance of internal financial control, that were operating
effectively for ensuring the accuracy and completeness of the
accounting records, 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
Our responsibility is to express an opinion on these financial
statements based on our audit. We have taken into account the
provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the
provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing
specified under section 143(10) of the Act. 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 those risk assessments, the auditor
considers internal financial control relevant to the Company's
preparation of the financial statements that give true and fair view 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 Company's Directors, 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 on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the said accounts together with the notes
thereon give the information required by the Companies Act, 2013, in
the manner so required for the companies and give a true and fair view
in conformity with the accounting principles generally accepted in
India:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at 31st March, 2015
b) in the case of the Profit and Loss Account of the profit 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
As required by section 143(3) of the Act, we report that:
a) We have sought and 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, 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 aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors
as on 31 March, 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on 31 March, 2015, from being
appointed as a director in terms of Section 164(2) of the Act.
f) With respect to the other matters included in the Auditor's Report
and to our best of our information and according to the explanations
given to us:
i. As per information and explanation provided, company doesn't have
any pending
litigation that could affect the fairness of the financial statement.
ii. The Company did not have any long-term contracts including
derivatives contracts for
which there were any material foreseeable losses
iii. There were no amounts which required to be transferred to Investor
Education and
Protection Fund
Annexure to the auditor's report
To the Members of Dhoot Industries Limited
Referred to in paragraph 3 and 4 of our report of even date
(i) The Company has no fixed assets hence the said clause is not
applicable to the company.
(ii) The Company does not deal in any goods therefore the said clause
is not applicable to the company.
(iii) The Company during the period has not granted any loans to
parties listed in the register maintained under section 189 of the
Companies Act, 2013. Therefore, the provisions of the said clause are
not applicable to the Company.
(iv) In our opinion and according to the information and explanations
given to us, there exist an adequate internal control system
commensurate with the size of the Company and the nature of its
business with regard to its business activities. During the course of
our audit, we have not observed any continuing failure to correct major
weakness in internal controls.
(v) According to the information and explanation given to us, the
company has not accepted any deposits from the public. Therefore, the
provisions of said clause are not applicable to the Company.
(vi) As explained to us the requirement of maintenance of cost records
under section 148(1) (d) of the Companies Act, 2013 does not apply to
the company.
(vii) 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, Wealth Tax, Service Tax, duty of Customs, Duty of Excise, Value
Added Tax, Cess and other material 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, 2015
for a period of more than six months from the date of becoming payable.
(b) According to the information and explanations given to us, no
disputed amounts payable in respect of the dues of Income Tax, Sales
Tax, Wealth Tax, Service Tax, Duty of Excise, Value Added Tax, Cess
were outstanding as at March 31, 2015.
(c) According to the information and explanations given to us, the
Company does not require to transfer funds to Investor Education and
Protection Fund.
(viii) The company has no accumulated losses as at March 31, 2015.
Hence the said clause is not applicable.
(ix) According to the information and explanations given to us, the
Company has not defaulted in any repayment to a financial institution,
bank or debenture holders & therefore the said clause relating to
maintenance of documents and records is not applicable.
(x) According to the information and explanations given to us, the
Company has not given guarantee for loans taken by others from banks or
financial institutions.
(xi) Company has not obtained term loan secured. Thus, said clause is
not applicable.
(xii) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
course of our audit.
FOR SHYAM C. AGARWAL & CO.
CHARTERTD ACCOUNTANTS
F.R. No. 110243W
Sd/-
SHYAM C. AGARWAL
(PROPRIETOR)
M. NO. 31774
PLACE: MUMBAI
DATE: 30.05.2015
Mar 31, 2014
We have audited the accompanying financial statements of DHOOT
INDUSTRIES LTD., which comprise the Balance Sheet as at March 31,2014,
and 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.
Management''s Responsibility
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 sub-section (3Q of section 211
of the Companies Act, 1956 read with the General Circular 15/2013
dated 13 September 2013 of the Ministry of Corporate Affairs in
respect of Section 133 of the Companies Act, 2013. This responsibility
includes the design, implementation and maintenance of internal
control relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error..
Auditor''s 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 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 those risk
assessments, the auditor considers internal control relevant to file
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 (he financial statements.
Annexure to the auditor''s report of DHOOT INDUSTRIES LIMITED
Referred to in paragraph 3 of our report of even date 4(i) The Company
have no fixed assets, hence the said clause is not applicable. Â
4(ii) The Company have no inventory, hence the said clause is not
applicable.
4(iii)(a) The Company during the period has granted Interest loans to
parties listed in the register maintained under section 301 of the
Companies Act, 1956.
(b) In the Opinion of the Management, the interest rate & other terms
and conditions of such loan are not, is prima facie, prejudicial to
the interest of the Company.
(c) There is no Stipulation as to the Period of repayment.
(d) Thus, We are unable to Comment on regularity Of repayment St
overdue . amount as there is no stipulation for the same.
(e) The Company had taken loans from parties listed in the register
maintained under section 301 of the Companies Act, 1956.
(f) In the opinion of management, interest rate and the other terms St
Condition on which loans have been taken from parties listed in the
register maintained under section 301 of the Companies Act, 1956 are
not, prima facie, prejudicial to the interest of the company.
(g) As there is no stipulation for repayment of loan, we are unable to
comment on regularity on repayment.
4(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and die nature of its business. During
the course of our audit, we have not observed any continuing failure
to correct major weakness in internal control system of the company.
4(v)(a) According to die information and explanations given to us, we
are of the opinion that the transactions that need to be entered into
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 no transactions made in pursuance of contracts
or arrangements entered in the register maintained under Section 301
of the Act.
4(vi) In our opinion and according to information and explanations
given to us, the Company has not accepted deposits from the Director
and public within the meaning of section 58A of the Companies Act,
1956 and the rules framed there under are not applicable. .
4(vii) In our opinion, the company has an internal audit system
according to its size and nature of its business.
4(viii) The Central Government has not prescribed maintenance of cost
records under section 209(l)(d) of the Companies Act, 1956 for any of
the activities of the Company. ''
4(ix)(a) According to information and explanation given to us, the
Company is regular in depositing with appropriate authorities
undisputed statutory dues including income-tax, service tax and other
material statutory dues applicable to it which are outstanding for
more than Six months from the date they become payable as of 31Â
March 2014.
(b) According to the records of the Company, there was no disputed
statutory dues that have not been deposited on account of the matters
pending before appropriates authorities. .
4(x) The company has no accumulated losses as at March 31,2014.
4(xi) According to die information and explanations given to us, the
Company has not defaulted in any repayment of dues to any financial
Institution or bank, as applicable, as at the Balance Sheet date.
4(xii) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares,
debentures and other securities and therefore Paragraph 4(xii) of the
said Order relating to maintenance of documents and records is not
applicable.
4(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit
Fund/Societies. Therefore, the provisions of clause 4(xiii) are not
applicable to the company.
4(xiv) In our opinion and according to the information and
explanations given to us, the Company is not dealing in or trading in
securities.
4(xv) According to the information and explanations given to us, the
Company has not given guarantees Loan taken by others from bank or
financial institutions and thus clause 4(xv) is not applicable.
4(xvi) According to the information and explanations given to us, the
term loans were applied for the purpose for which they were obtained
by the company.
4(xvii) According to the information and explanations given to us, the
Company has not raised any funds, short-term or long-term, during the
period and therefore Clause 4(xvii) of the said Order relating to
usage of such funds is not applicable.
4(xviii) According to the information and explanations given to us,
during die year 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. Â
(xix) According to the information and explanations given to us,
during the year covered by our audit report, the Company has not
issued any debentures.
4(xx) According to the information and explanations given to us, the
Company has not made any public issue during the period and
accordingly Paragraph 4(xx) of the said Order relating to end use of
money raised is not applicable.
4(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
coarse of our audit
For SHYAM C. AGRAWAL & CO.
Chartered Accountants
SD/-
PLACE: MUMBAI S.C. AGRAWAL
Date-19-06-2014 (Proprietor)
M.No. 031774
Mar 31, 2013
1. We have audited the attached balance sheet of DHOOT INDUSTRIES
LIMITED, as at March 31, 2013, and also the profit and loss account for
the year ended on that date annexed thereto. These financial
statements are the responsibility of the Company''s^ management. Our
responsibility is to express an opinion on thesv^ financial statements
based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditor''s Report) Order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
section 227 of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
4. Further to our comments in the Annexure referred to above, we
report that
i. We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
ii. In our opinion, proper books of account as required by law have
been kept by the Company so far as appears from our examination of
those books;
iii. The balance sheet and profit and loss account dealt with by this
report are in agreement with the books of account;
iv. In our opinion, the balance sheet and 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;
v. On the basis of written representations received from the directors,
as on March 31, 2013 and taken on record by the Board of Directors, we
report that none of the directors is disqualified as on March 31, 2013
from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956;
vi. 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
notes thereon give the information required by the Companies Act, 1956,
in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a. In the case of the balance sheet, of the state of affairs of the
Company as at March 31, 2013; and
b. In the case of the profit and loss account, of the profit for the
year ended on that date.
Referred to in paragraph 3 of our report of even date
4(i)(a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) As informed and represented to us, fixed assets have not been
physically^,^ verified by the management during the period but there is
a reguk''^ programmed of verification and no material discrepancies were
noticed on such verification.
(c) In our opinion and according to the information and explanations
given to us, the Company has not disposed off a substantial part of
fixed assets during the period thereby affecting the going concern.
4(ii) The Company have no inventory, hence the said clause is not
applicable.
4(iii)(a) The Company during the period has granted Interest loans to
parties listed in the register maintained under section 301 of the
Companies Act, 1956.
(b) In the Opinion of the Management, the interest rate & other terms
and conditions of such loan are not, is prima facie, prejudicial to the
interest of the Company.
(c) There is no Stipulation as to the Period of repayment.
(d)Thus, We are unable to Comment on regularity of repayment & overdue
amount as there is no stipulation for the same.
(e) The Company had taken loans from parties listed in the register
maintainei under section 301 of the Companies Act, 1956.
(f) In the opinion of management, interest rate and the other terms &
Condition on which loans have been taken from parties listed in the
register maintained under section 301 of the Companies Act, 1956 are
not, prima facie, prejudicial to the interest of the company.
(g) As there is no stipulation for repayment of loan, we are unable to
comment on regularity on repayment.
4(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business. During the
course of our audit, we have not observed any continuing failure to
correct major weakness in internal control system of the company.
4(v)(a) According to the information and explanations given to us, we
are of the opinion that the transactions that need to be entered into
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 no transactions made in pursuance of contracts
or arrangements entered in the register maintained under Section 301 of
the Act.
4(vi) In our opinion and according to information and explanations
given to us, the Company has not accepted deposits from the Director
and public within the meaning of section 58A of the Companies Act, 1956
and the rules framed there under are not applicable.
4(vii) In our opinion, the company has an internal audit system
according to its size and nature of its business.
4(viii) The Central Government has not prescribed maintenance of cost
records under section 209(1 )(d) of the Companies Act, 1956 for any of
the activities of the Company.
4(ix)(a) According to information and explanation given to us, the
Company is regular in depositing with appropriate authorities
undisputed statutory dues including income-tax, service tax and other
material statutory dues applicable to it which are outstanding for more
than Six months from the date they become payable as of 31*'' March
2013.
(b) According to the records of the Company, there was no disputed
statutory dues that have not been deposited on account of the matters
pending before appropriates authorities.
4(x) The company has no accumulated losses as at March 31, 2013.
4(xi) According to the information and explanations given to us, the
Company has not defaulted in any repayment of dues to any financial
Institution or bank, as applicable, as at the Balance Sheet date.
4(xii) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares,
debentures and other securities and therefore Paragraph 4(xii) of the
said Order relating to maintenance of documents and records is not
applicable.
4(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit
Fund/Societies. Therefore, the provisions of clause 4(xiii) are not
applicable to the company.
4(xiv) In our opinion and according to the information and explanations
given to us, the Company is not dealing in or trading in securities.
4(xv) According to the information and explanations given to us, the
Company has ru. i given guarantees Loan taken by others from bank or
financial institutions and thus clause 4(xv) is not applicable.
4(xvi) According to the information and explanations given to us, the
term loans were applied for the purpose for which they were obtained by
the company.
4(xvii) According to the information and explanations given to us, the
Company has not raised any funds, short-term or long-term, during the
period and therefore Clause 4(xvii) of the said Order relating to usage
of such funds is not applicable.
4(xviii) According to the information and explanations given to us,
during the year 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.
4(xix) According to the information and explanations given to us,
during the year covered by our audit report, the Company has not issued
any debentures.
4(xx) According to the information and explanations given to us, the
Company has not made any public issue during the period and accordingly
Paragraph 4(xx) of the said Order relating to end use of money raised
is not applicable.
4(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
course of our audit.
For SHYAM C. AGRAWAL & CO.
Chartered Accountants
Sd/-
Place :Mumbai S.C. AGRAWAL
Date: 8lh August, 2013 (Proprietor)
Mar 31, 2012
1. We have audited the attached balance sheet of DHOOT INDUSTRIES
LIMITED, as at March 31, 2012, and also the profit and loss account for
the year ended on that date annexed thereto. These financial statements
are the responsibility of the Company's management. Our responsibility
is to express an opinion on these financial statements based on our
audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (Auditor's Report) Order, 2003 issued
by the Central Government of India in terms of sub-section (4A) of
section 227 of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
4. Further to our comments in the Annexure referred to above, we
report that
i. We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purposes of our
audit;
ii. In our opinion, proper books of account as required by law have
been kept by the Company so far as appears from our examination of
those books;
iii. The balance sheet and profit and loss account dealt with by this
report are in agreement with the books of account;
iv. In our opinion, the balance sheet and 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;
v. On the basis of written representations received from the directors,
as on March 31, 2012 and taken on record by the Board of Directors, we
report that none of the directors is disqualified as on March 31, 2012
from being appointed as a director in terms of clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956;
vi. 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
notes thereon give the information required by the Companies Act, 1956,
in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a. In the case of the balance sheet, of the state of affairs of the
Company as at March 31, 2012; and
b. In the case of the profit and loss account, of the profit for the
year ended on that date.
Annexure to the auditor's report of DHOOT INDUSTRIES LIMITED
Referred to in paragraph 3 of our report of even date
4(i)(a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) As informed and represented to us, fixed assets have not been
physically verified by the management during the period but there is a
regular programmed of verification and no material discrepancies were
noticed on such verification.
(c) In our opinion and according to the information and explanations
given to us, the Company has not disposed off a substantial part of
fixed assets during the period thereby affecting the going concern.
4(ii) The Company have no inventory, hence the said clause is not
applicable.
4(iii)(a) The Company during the period has granted Interest loans to
parties listed in the register maintained under section 301 of the
Companies Act, 1956.
(b) In the Opinion of the Management, the interest rate & other terms
and conditions of such loan are not, is prima facie, prejudicial to the
interest of the Company.
(c) There is no Stipulation as to the Period of repayment.
(d)Thus, We are unable to Comment on regularity of repayment & overdue
amount as there is no stipulation for the same.
(e) The Company had taken loans from parties listed in the register
maintained under section 301 of the Companies Act, 1956.
(f) In the opinion of management, interest rate and the other terms &
Condition on which loans have been taken from parties listed in the
register maintained under section 301 of the Companies Act, 1956 are
not, prima facie, prejudicial to the interest of the company.
(g) As there is no stipulation for repayment of loan, we are unable to
comment on regularity on repayment.
4(iv) In our opinion and according to the information and explanations
given to us, there is an adequate internal control system commensurate
with the size of the Company and the nature of its business. During the
course of our audit, we have not observed any continuing failure to
correct major weakness in internal control system of the company.
4(v)(a) According to the information and explanations given to us, we
are of the opinion that the transactions that need to be entered into
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 no transactions made in pursuance of contracts
or arrangements entered in the register maintained under Section 301 of
the Act.
4(vi) In our opinion and according to information and explanations
given to us, the Company has not accepted deposits from the Director
and public within the meaning of section 58A of the Companies Act, 1956
and the rules framed there under are not applicable.
4(vii) In our opinion, the company has an internal audit system
according to its size and nature of its business.
4(viii) The Central Government has not prescribed maintenance of cost
records under section 209(1)(d) of the Companies Act, 1956 for any of
the activities of the Company.
4(ix)(a) According to information and explanation given to us, the
Company is regular in depositing with appropriate authorities
undisputed statutory dues including income-tax, service tax and other
material statutory dues applicable to it which are outstanding for more
than Six months from the date they become payable as of 31st March
2012.
(b) According to the records of the Company, there was no disputed
statutory dues that have not been deposited on account of the matters
pending before appropriates authorities.
4(x) The company has no accumulated losses as at March 31, 2012.
4(xi) According to the information and explanations given to us, the
Company has not defaulted in any repayment of dues to any financial
Institution or bank, as applicable, as at the Balance Sheet date.
4(xii) As explained to us, the Company has not granted any loans and
advances on the basis of security by way of pledge of shares,
debentures and other securities and therefore Paragraph 4(xii) of the
said Order relating to maintenance of documents and records is not
applicable.
4(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit
Fund/Societies. Therefore, the provisions of clause 4(xiii) are not
applicable to the company.
4(xiv) In our opinion and according to the information and explanations
given to us, the Company is not dealing in or trading in securities.
4(xv) According to the information and explanations given to us, the
Company has not given guarantees Loan taken by others from bank or
financial institutions and thus clause 4(xv) is not applicable.
4(xvi) According to the information and explanations given to us, the
term loans were applied for the purpose for which they were obtained by
the company.
4(xvii) According to the information and explanations given to us, the
Company has not raised any funds, short-term or long-term, during the
period and therefore Clause 4(xvii) of the said Order relating to usage
of such funds is not applicable.
4(xviii) According to the information and explanations given to us,
during the year 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.
4(xix) According to the information and explanations given to us,
during the year covered by our audit report, the Company has not issued
any debentures.
4(xx) According to the information and explanations given to us, the
Company has not made any public issue during the period and accordingly
Paragraph 4(xx) of the said Order relating to end use of money raised
is not applicable.
4(xxi) According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the
course of our audit.
For SHYAM C. AGRAWAL & CO.
Chartered Accountants
MUMBAI S.C. AGRAWAL
DATED (Proprietor)
Mar 31, 2010
We have audited the attached Balance Sheet of DHOOT INDUSTRIES LIMITED
at 31st March 2010 & the Profit and Loss Account for the period ended
on that date, annexed thereto.These financial statements are the
responsibility of the companys management .Our responsibility is to
express an opinion this financial statement based on our audit:
1. We have conducted our audit accordance with auditing with standers
generally accepted in India. Those standards require that we plan and
perform the audit to obtain reasonable assurance about weather 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 principal used and significant estimate 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. We have obtained all the information and the explanation , which to
the best of our knowledge and belief were necessary of the purpose of
our audit.
3 . In our opinion books of account as required by law have been kept
by the company so far as it appears from our examination of such books.
4 . In our opinion the Balance Sheet and Profit & Loss Account with
the Accounting standards referred to in Sub-Section (3C) of section on
211 of the Companies Act, 1956.
5 . In our opinion and to the best of our information and according to
the explanation given to us , the said accounts read with the and
subject to the notes to the accounts relating to Balance Sheet and
Profit & Loss account give the information required by the Company Act
, 1956 , in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India.
6.
1) In the case of Balance Sheet of the state of Affairs of the Company
as at 31st March ,2010 and
2) In the case of profit and Loss account, of the profit for the year
ended on that date
7. On the basis of written representation received from the Directors ,
as on 31st March ,2010 and taken on record by the Board of Directors ,
we report that none of the Director is disqualified as on 31st March ,
2010 , from being appointed as Director in term of clause (9) of Sub
section (1) 274 of the Companies Act 1956,
ANNEXURE TO AUDITORS REPORT
Referred to in paragraph (3) of our report of even date on the accounts
of DHOOT INDUSTRIES LIMITED for the year ended 31st March 2010.
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, Fixed
Assets were physically verified by the management during the year. In
our opinion the period of verification is reasonable having regards to
the size of the company and Nature of its assets. No material
discrepancies have been on such verification.
b) According to the information and explanation given to us, the
company has not disposed off any Fixed assets, during the year.
2. In respect of Inventories:- Not applicable.
3. (i) The company has taken unsecured loans from parties covered in
the register maintained under section 301 of the companies Act, 1956.
the amount outstanding at the end of the year was Rs. 5668910/-.
(ii) The company had not granted unsecured loans to the parties listed
in the Register maintained under section 301 of the companies Act,
1956. (iii) Terms & conditions on which loans have been taken from
parties listed listed in the Register maintained under section 301 of
the companies Act, 1956 are not prima facie, prejudicial to the
interest of the company.
4. in our opinion and according to the information and explanation
given to us there are adequate internal control procedures commensurate
with the size of the company and the nature of its business for the
purchase of inventory, fixed assets and also for the sale of goods.
During the course of our audit, we have not observed any major weakness
in internal controls.
5. A) In our opinion and according to the information and explanations
given to us, the transactions made in pursuance of contracts or
arrangements that needed to be entered in to 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, the transactions made to in pursuance of contracts or
arrangements entered in the Register maintained under section 301 of
the companies Act, 1956 and exceeding the value of Rs. 500000/- in
respect of any Party during the year have been made at prices which are
responsible having regard to the prevailing market price at the
relevant time.
6. The company has not accepted any deposits from the public during
the year covered by our Audit report.
7. In our opinion the internal audit system of the company
commensurate with the size and nature of its business.
8. As informed to us the maintenance of cost records has not been
prescribed by the central Government under section 209(1 Xd) of the
company Act, 1956 in respect of the activities carried on by the
company.
9. According to the records of the Company undisputed statutory dues
including provident fund, investor Education and protection fund,
Employee state insurance, Income Tax, Sales Tax, Wealth Tax, Custom
Duty, Excise Duty, Cess and other statutory dues have been generally
regularly deposited with the appropriate authorities. According to the
information and explanation given to us, no undisputed amount payable
in respect of aforesaid dues were outstanding as at 31st March, 2010
for a period or more than six months from the date they becoming
payable.
10. The company did not issue any debenture during the year.
11. Based on our Audit procedures and according to the information and
explanation given to us the company has not defaulted in repayment of
dues financial institution and banks.
12. According to the information & explanation given to us the company
has not granted loans & advances on the basis of security by way of
pledge of shares and other securities.
13. In our opinion, the company is not a chit fund or a nidhi/mutual
benefit fund/society. Therefore, clause 4(Xiii) of the
companies(Auditors Report) order 2003 is not applicable to the company.
14. In our opinion the company has maintain proper records of
transaction in respect of dealing in shares during the year and timely
entries have been generally made there in all shares have been held by
the company in own name.
15. As informed to us, the company has not given any guarantees for
loans taken by other from banks or financial institutions.
16. The company has not taken any term loan during the year . Therefore
clause 4(xvi) of the companies (Auditors Report) order 2003 is not
applicable.
17. According to information and explanation of the balance sheet of
the company we report that no funds raised on short term basis have
been used for long term Investment.
18. The company during the year has not made any preferential allotment
of shares to parties and companies covered in the registered maintained
under section 301 of the companies Act, 1956.
19. According to information and explanations given to us the company
has not issued any Debenture during the period covered by our Report.
Accordingly the provision of clause (xix) of the order are not
applicable to the company
20. The company has not raised any money by way of public issue during
the year and therefore paragraph 4 (xix) of the order is not applicable.
21. During the course of our examination of the books and records of
the company carried in accordance with the generally accepted auditing
practices in India and according to the information and explanation
given to us we have neither come across any instance of fraud on or by
the company noticed or reported during the year nor have informed of
such case by the management.
For SHYAM . C . AGRAWAL & CO .
CHARTERTD ACCOUNTANTS
Sd/-
(S. C . AGRAWAL )
PROPRITOR.
PLACE : Mumbai
DATE : 06-09.2010