Mar 31, 2014
We have audited the accompanying financial statements of Smilax
Industries Limited ("the Company"), which comprise the Balance Sheet as
at March 31, 2014, and the Statement of Profit and Loss 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 notified under the Companies Act, 1956 ("the Act") read with
the General circular 15/2013 dated 13 September 2013 of the Ministry of
Corporate Affairs in respect 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 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 entity''s internal control. 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.
Opinion:
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 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, 2014;
(b) In the case of the Statement of Profit and Loss Account, 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
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 (4A) 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 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 and Statement of Profit and Loss
and Cash Flow Statement comply with the Accounting Standards notified
under the Companies Act, 1956 ("the Act") read with the General
circular 15/2013 dated 13 September 2013 of the Ministry of Corporate
Affairs in respect Section 133 of the Companies Act, 2013.
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 THE AUDITORS'' REPORT
I. (a) The Company has maintained proper records showing full
particulars including quantitative detail and situation of Fixed
Assets.
(b) As explained to us, the fixed assets have been physically verified
by the management at reasonable intervals and no material discrepancies
between the book records and the physical presence have been noticed on
such verification.
(c) The Company has not disposed any part of the Fixed Assets during
the year.
II. (a) The company has no inventory. Hence this clause is not
applicable.
III. (a) The Company has not granted loans secured or unsecured to
Companies, Firms or other parties covered in the register maintained
under section 301 of the Companies Act, 1956.
(b) As the Company has not granted loans, the clause of whether the
rate of interest & other term and conditions on which loans have been
granted to parties listed in the register maintained under section 301
is prejudicial to the interest of the company, is not applicable.
(c) As no loans are granted by company, the clause of receipt of
interest & principal amount from parties is not applicable.
(d) No loans have been granted to companies, firms & other parties
listed in the register U/s 301 of the Companies Act, 1956. Hence,
overdue amount of more than rupees one lakh does not arise and the
clause is not applicable.
(e) The Company has not taken any loans, secured or unsecured from
Companies, Firms or other Parties covered in the register maintained
U/s.301 of the Companies Act, 1956.
(f) As the Company has not taken any loans, the clause of whether the
rate of interest and other terms and conditions on which the loans have
been taken from parties listed in the register maintained U/s 301 is
prejudicial to the interest of the Company, is not applicable.
(g) As no loans are taken by the company, the clause of repayment of
interest and principal amount to parties is not applicable to the
company.
IV. In our opinion and according to the information and explanations
given to us, there are generally adequate internal control systems
commensurate with the size of the company and the nature of its
business with regard to purchase fixed assets. There is no continuing
failure by the company to correct any major weaknesses in internal
control.
V. (a) In our opinion and according to the information and explanations
given to us, since no contracts or arrangements referred to in section
301 of the Companies Act, 1956 have been made by the company in respect
of any party in the financial year, the entry in the register U/s 301
of the Companies Act, 1956 does not arise.
(b) According to the information and explanations given to us, as no
such contracts or arrangements are made by the company, the
applicability of the clause of charging the reasonable price having
regard to the prevailing market prices at the relevant time does not
arise.
VI. The Company has not accepted any deposits from the public and hence
the applicability of the clause of directives issued by the Reserve
Bank of India and provisions of section 58A, 58AA or any other relevant
provisions of the Act and the rules framed there under does not arise.
As per information and explanations given to us no order from the
Company Law Board or National Company Law Tribunal or Reserve Bank of
India or any Court or any other Tribunal has been received by the
Company.
VII. In our opinion, the company is having internal audit system,
commensurate with its size and nature of its business.
VIII. In respect of the Company, the Central Government has not
prescribed maintenance of cost records under clause (d) of sub-section
(1) of section 209 of the Companies Act, 1956.
IX. (a) The Company is regular in depositing statutory dues including
PF, ESI, Income Tax and any other statutory dues with the appropriate
authorities and at the end of last financial year there were no amounts
outstanding which were due for more than 6 months from the date they
became payable.
(b) According to the information and explanations given to us, there
are no dues of Income tax/sales tax or any statutory dues which have
not been deposited on account of any dispute.
X. The Company has been registered for a period of more than 5 years,
and the company has got accumulated losses at the end of the financial
year and the company has incurred cash losses in this financial year
and in the immediately preceding financial year.
XI. According to information and explanations given to us, the company
has not taken any loans from Banks or Financial Institutions. Hence
this clause of repayment of dues to financial Institutions or Banks or
Debenture Holders and the defaulted payment therein is not applicable
to the company.
XII. According to the information and explanations given to us, the
Company has not granted any loans or advances on the basis of security
by way of pledge of shares, debentures and other securities and hence
the applicability of the clause regarding maintenance of adequate
documents in respect of loans does not arise.
XIII. This clause is not applicable to this Company as the Company is
not covered by the provisions of special statute applicable to Chit
Fund in respect of Nidhi/Mutual Benefit Fund/Societies.
XIV. According to the information and explanations given to us, the
company is not dealing or trading in shares, securities, Debentures and
other investments and hence the provisions of clause 4(xiv) of the
Companies (Auditor''s Report) Order 2003, are not applicable to the
Company.
XV. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from
Banks or Financial Institutions and hence the applicability of this
clause regarding terms and conditions which are prejudicial to the
interest of the company does not arise.
XVI. According to the information and explanations given to us, the
company has not obtained any Term Loans. Hence this clause is not
applicable.
XVII. According to the information given to us and on an overall
examination of the Balance Sheet of the Company, we report that funds
raised on short-term basis have not been used for long term investment
during the audit period.
XVIII. According to the information and explanations given to us, 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 and hence the applicability of the clause
regarding the price at which shares have been issued and whether the
same is prejudicial to the interest of the Company does not arise.
XIX. According to the information and explanations given to us, the
company has not issued debentures and hence the applicability of clause
regarding the creation of security or charge in respect of debentures
issued does not arise.
XX. According to information and explanations given to us, the company
has not raised money by way of public issues during the year, hence the
clause regarding the disclosure by the management on the end use of
money raised by public issue is not applicable.
XXI. According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the year
under audit.
For P. MURALI & CO
CHARTERED ACCOUNTANTS
FRN: 007257S
Place: Hyderabad Sd/-
Date: 30-05-2014 Partner
Mar 31, 2013
Report on the Financial Statements:
We have audited the accompanying financial statements of Smilax
Industries Limited ''the Company which compromise the Balance sheet at
march 31.2013 and the Statement of Profit and Loss and Cash Flow
Statement for the year ended, and a summary of Significant accounting
policies and other explanatory information
Management Responsibility for the Financial Statement:
Management is responsible for the preparation if 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 (3C) of
Section 211 of the Competes aCT1956 ("THE act") This responsibility
includes The design. implementation and maintenance of internal
control relive to the prepared arid presentation of the financial
statements that give a true and fair view and free from material
misstatement whether due to fraud or error.
Auditor''s Responsibility;
Our responsibility is to express an opinion on these financial
statements base on out audits audit in accordance with the Standards on
Audits issued by the institute of Chartered Aceourlart.1 of India.
Those Standards require that we comply with epical requirements and
plan and perform the Judie and obtain reasonable assurance about where
the financial statements are free Tram material misstatement
An audit involves performing procedure to obtain audit evidence about
the amounts and disclosures In the financial statements The procedures
selector depend on the auditor'' judgment, including the easement of
the risks of materiel misstatement of the financial statement. whether
due to the financial statements.
In making those risk assessments the audit considers internal considers
internal to the Company''s preparation and fair presentation of the
financial statements on order to design audit prepare their are
appropriate in the circumstances An neutral also maid Bt evaluating the
appropriateness of account policies used and the reasonableness of the
accounting estimates made by management, as well as evaluation the
overall presentation at the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit option
Opinion;
In our opinion and to the best of our information and according to the
explanations given to us that financial statements give the information
required by the Act in the manner 50 required and give be true said
fair conformity with the accounting principles generally accepted in
India:
(a) In the case of the Balance Sheet. to the sheet of the state of the
Company as at March 31,2013:
(b) In the ease 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 flow for the
year ended on that date.
Report on Other Legal and Regulatory Requirement*
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 (4A) of section 227 of the ACT we given the Annexure a
statement 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 audit.
b) In our option proper books of account as reduced by law have been
Kept by the Company as appeal from our examination of those books.
c) the balance sheet statement of profit and loss and cash flow
statement dealt with 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 company with the Accounting standers referred to
in subsection (3C)of section 211 of the companies Act,1956:
e) On the basis of written representations received from the directors
as on March 31,2013 and taken on record by the Board of Director 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.
f) Since the central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
companies Act,1956 nor has it issued any Rules under the said section
prescribing the manner in which such cess is to paid no assist is due
and payable by the company.
I. (a) The company has maintained proper records showing full
particulars including qualification detail and situation of fixed
Assets.
(b) As explained to us The fixed assets have been physically verified
by the management at reasonable intervals and no material discrepancies
between the book records and the physical inventory have been noticed on
such verification.
(c) The company has not disposed off substantial part of the Fixed
Assets during the year.
II) (a) The inventory has been physically verified during the year by
the management and in our opinion the frequency of verification is
reasonable.
(b) In our opinion the procedures of the physical verification of
inventory 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 not granted any loans secured or unsecured to
companies firms or other parties company and to book records.
III. (a) The company has not granted any loans secured or unsecured to
companies firms or other parties covered in the register maintained u/s
301 of the companies Act,1956.
(b) As the company has not granted loans secured of unsecured from
companies firms or other terms and in the register maintained under
section 301 is prejudices to the interest of the company is not
applicable.
(c) As no loans have been granted by company the clause of receipt of
interest & principal amount from parties is not applicable to the
company.
(d) No loans have been granted to companies firms & other parties
listed in the register u/s 301 of the companies Act,1956 hence overdue
amount of more than rupees one lakh does not arise and the clause is
not applicable.
(e) The company has not taken any loans secured or unsecured from
companies firms or other parties covered in the register maintained u/s
301 of the companies Act, 1956.
(f) As the company has not taken any loans the clause of whether the
rate of interest & other terms and conditions on which loans have been
taken from parties listed in the register maintain under section 301 is
prejudicial to the interest of the company is not applicable.
(g) As no loans are taken by the company the cause of repayment of
interest & principal amount to parties is not applicable to the
company.
IV (a) In our opinion and according to the information and explanation
given to us since no contracts or arrangements referred to in section
301 of the companies Act,1956 have been made by the company in respect
of any party in the financial year the entry in the register u/s 301 of
the companies Act,1958 does not arise.
(b) According to the information and explanations given to us as on
contracts or arrangements made by the company the applicable of the
clause of changing the reasonable price having regard to the prevailing
market prices at the relevant time does not arise.
VI The company has not accepted any deposits from the public and hence
the applicability of the clause of directives issued by the reserve
bank of India and provision of section 58A. 58AA or any other relevant
provisions of the Act, and the rules framed there under does not arise.
VII In our opinion the company has an internal audit system commensurate
with its size and nature of its business.
VIII We have broadly verified the books of account and records
maintained by the company pursuant to the order made by the central
government for the maintenance of cost records under section 209 (1)
(d) of the companies Act, 1956 and are of the opinion that prime facie
the prescribed accounts and records have been made and maintained.
IX (a) The company is regular in depositing undisputed statutory dues
including provident fund investor Education and protection fund
Employee state Insurance income Tax Sales Tax Wealth Tax service TAX
Custer during the year According to information and explanations given
us there are no arrears of statutory dues as at 31st March 2013 which
were outstanding for a period of more than 6 months from the date
because payable.
(b) According to the information and explanations given to us there are
no dues of sales Tax Wealth Tax service Tax custom Duty Excise Duty and
cess which have not deposited on account any dispute.
X. The company has been registered for a period of not less than 5 years
and the company has no accumulated losses at the end of the financial
year and the company has not incurred cash losses in this financial
year and in the immediately preceding financial year.
XI According to the information and explanations given to us the
company has not defaulted in respect of loans institutions or Banks.
XII According to the information and explanations given to us the
company has not granted any loans or advances on this basis of security
by way of pledge of shares debentures and other securities and hence
the applicable of the clause regarding maintenance of adequate document
in respect of loans does not arise.
XIII This clause is not applicable to this company as the company is
not covered by the provisions of special statute applicable to chit
fund in respect of Nidhi/Mutral Benefit Fund/Societies.
XIV According to the information and explanation given to us the
company has not given any guaranteed for loans taken by others from
banks or financial institute and hence the applicable by of this douse
regarding terms and conditions which such loans were obtained by the
company,
XV According to the information and explanation given to us the terms
loans obtained by the company were applicable for the purpose for which
such loans were obtained by the company.
XVII On the basis of our examination of the books & accounts and
according to the information and explanations given to us in our opinion
the funds raised on shorts term basis have not been used for long term
investment.
XVIII According to the information and explanation given to us the
company has not more preferential allotments of shares to parties and
companies covered in the register maintained under section 301 of the
company Act,1956 and hence the applicable of the clause regarding the
price at which shares have been issued and whether the same is
prejudicial to the interest of the company does not arise.
XIX According to the information and explanation given to us the
company does not have any debentures and hence the applicable of the
clause regarding the creation of charge in respect of debenture issued
does not arise.
XX According to information and explanation given to us the company has
not raised money by way of public issues during the year hence the
clause regarding the disclosure by the management on the end use of
money raised by public issues is not applicable.
XXJ According to the information and explanation given to us no fraud
on or by the company has been noticed or reported during the year under
audit.
For P.MURALI & CO
CHARTERED ACCOUNTANTS
FRN:007257S
sd/-
M.V.JOSHI
PARTNER
Membership number 024784
Place : Hyderabad
Date ; 30-05-2013
Mar 31, 2010
We have audited the attached Balance Sheet of WYN AQUA EXPORTS LIMITED
as at 31st March, 2010 and also the Profit & Loss Account for the
period ended on the date annexed thereto and the cash flow statement
for the period 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.
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 statement. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall statement
presentation. We believe that our audit provides a reasonable basis of
our opinion.
As required by the Companies (Auditors Report) Order 2003 and as
amended by the Companies (Auditors Report) (Amendment) Order, 2004,
issued by the Central Government of India in terms of the 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.
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 & Profit & Loss Account dealt with by this
report are in agreement with the books of accounts;
(iv) In our opinion, the Balance Sheet& Profit & Loss Account dealt
with by this report comply with the Accounting standards referred to in
sub-section (3C) of Section 211 of Companies Act, 1956;
(v) On the basis of written representations received from the
Directors, as on 31 st 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 Director in terms of clause(g) of
sub-section(l) 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 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)ln the case of the Balance Sheet, of the state of affairs of the
Company as at 31 st March, 2010;
(b)ln the case of the Profit & Loss Account, of the Loss for the period
ended on that date;
And
(c)ln the case of the Cash Flow, of the cash flows for the period ended
on that date.,
ANNEXURE TO THE AUDITORS REPORT
I. (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of Fixed
Assets.
(b) As explained to us, the fixed assets have been physically verified
by the management at reasonable intervals and no material discrepancies
between the book records and the physical inventory have been noticed
on such verification.
(c) The Company has not disposed off substantial part of the Fixed
Assets during the year.
II. The Company has no Inventory. Hence this clause is not applicable.
III. (a) The Company has not granted any loans, secured or unsecured
to Companies, Firms or other Parties covered in the register maintained
U/s. 301 of the Companies Act, 1956.
(b) The Company has not granted loans, the clause of whether the rate
of interest & other term and conditions on which loans have been
granted to parties listed in the register maintained under section 301
is not prejudicial to the interest of the Company, is not applicable.
(c) As no loans are granted by the company, the clause of receipt of
interest & principal amount from parties is not applicable to the
company.
(d) No loans have been granted to Companies, Firms & other parties
listed in the register U/s.301 of the Companies Act, 1956, hence
overdue amount of more than rupees one lakh does not arise and the
clause is not applicable.
(e) The Company have not taken any loans, secured or unsecured from
Companies, Firms or other parties covered in the register maintained
U/s.301 of the Companies Act, 1956.
(f) As the Company has not taken any loans, the clause of whether the
rate of interest & other term and conditions on which loans have been
taken from parties listed in the register maintained under Section 301
is prejudicial to the interest of the Company, is not applicable.
(g) As no loans are taken by the company, the clause of repayment of
interest & principal amount to parties, is not applicable to the
company.
IV. In our opinion and according to the information and explanations
given to us, there are generally adequate internal control systems
commensurate with the size of the company and the nature of its
business with regard to purchase of fixed assets and for sale of goods
and services. There is no continuing failure by the company to correct
any major weaknesses in internal control.
V. (a) In our opinion and according to the information and explanation
given to us, since no contracts or arrangements referred to in Section
301 of the Companies Act, 1956 have been made by the company in respect
of any party in the financial year, the entry in the register U/s.301
of the Companies Act, 1956 does not arise.
(b) According to the information and explanations given to us, as such
no contracts or arrangements made by the company, the applicability of
the clause of charging the reasonable price having regard to the
prevailing market prices at the relevant time does notarise.
VI. The Company has not accepted any deposits from the public and
hence the applicability of the clause of directives issued by the
Reserve Bank of India and provisions of section 58A, 58AA or any other
relevant provisions of the Act, and the rules framed there under does
not arise. As per information and explanations given to us the order
from the Company Law Board or National Company Law Tribunal or Reserve
Bank of India or any Court or any other Tribunal has not been received
by the Company.
VII. In our opinion, the company is having internal audit system,
commensurate with its size and nature of its business.
VIII. In respect of the Company, the Central Government has not
prescribed maintenance of cost records under clause (d) of sub-section
(1) of section 209 of the Companies Act, 1956.
IX. (a) The Company is regular in depositing statutory dues including
Income Tax, Cess and any other statutory dues with the appropriate
authorities and at the last of the financial year there were no amounts
outstanding which were due for more than 6 months from the date they
became payable.
(b) According to the information and explanations given to us, no
undisputed amounts are payable in respect of Income Tax, Cess and any
other statutory dues as at the end of the period, for a period more
than six months from the date they became payable.
X. The Company has been registered for a period of not less than 5
years, and its accumulated losses at the end of the financial year is
less than fifty percent of its net-worth and the company has incurred
cash losses in this financial year and in the immediately preceding
financial year.
XI. According to information and explanations given to us, the Company
has not taken any loans from banks or financial institutions. Hence
this clause of repayment of dues to Financial Institutions or banks or
Debenture Holders and the defaulted payment therein is not applicable
to the company.
XII. According to the information and explanations given to us, the
Company has not granted any loans or advances on the basis of security
by way of pledge of shares, debentures and other securities and hence
the applicability of the clause regarding maintenance of adequate
documents in respect of loans does not arise.
XIII. This clause is not applicable to this Company as the Company is
not covered by the provisions of special statute applicable to Chit
Fund in respect of Nidhi/Mutual Benefit Fund/Societies.
XIV. According to the information and explanations given to us, the
company is not dealing or trading in shares, Securities, Debentures and
other investments and hence the provisions of clause 4(xiv) of the
Companies (Auditors Report) Order 2003, are not applicable to the
Company.
XV. According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from
Banks or Financial Institutions, and hence the applicability of this
clause regarding terms and conditions which are prejudicial to the
interest of the company does not arise.
XVI. According to the information and explanations given to us, the
Company has not obtained any Term Loans, hence this Clause is not
applicable.
XVII. According to the information given to us, no funds are raised by
the company on short-term basis. Hence the clause of short-term funds
being used for long term investment does not arise.
XVIII. According to the information and explanations given to us, the
Company has not made prefere ntial allotment of Shares to parties and
Companies covered in the Register maintained under section 301 of the
Companies Act, 1956 and hence the applicability of the clause regarding
the price at which shares have been issued and whether the same is
prejudicial to the interest of the Company does not arise.
XIX. According to the information and explanations given to us, the
Company does not have any debentures and hence the applicability of the
clause regarding the creation of the security or charge in respect of
debentures issued does not arise.
XX. According to information and explanations given to us, the company
has not raised money by way of public issues during the year, hence the
clause regarding the disclosure by the management on the end use of
money raised by Public Issue is not applicable.
XXI. According to the information and explanations given to us, no
fraud on or by the Company has been noticed or reported during the year
under audit.
For P.MURALI & CO.,
CHARTERED ACCOUNTANTS
Sd/-
M.V. JOSHI
PARTNER