Mar 31, 2015
We have audited the accompanying standalone financial statements of
United Interactive Limited (Formerly Neemtek Organic Products Limited)
("the Company"), which comprise the Balance Sheet as at March 31, 2015,
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
The Company's Board of Directors is responsible for the matters stated
in section 134(5) of the Companies Act, 2013 ('the Act') with respect
to the preparation and presentation of these standalone 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 maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making
judgements and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls,
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 standalone
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 misstatements.
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 a true and fair view
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial
controls system over financial reporting and the operating
effectiveness of such controls. 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 standalone
financial statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid standalone 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, of the affairs of the company as at March
31, 2015, and profits and cash flows for the year ended on that date.
Report on other Legal Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2015 ("the
Order") issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure a
statement on the matters specified in paragraphs 3 and 4 of the Order
to the extent applicable.
2. 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
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, Statement of Profit and Loss, and
Cash Flow Statement 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 the written representations received from the
directors as on March 31, 2015, and taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 2015,
from being appointed as a director in terms of section 164(2) of the
Act.
f) In our opinion and to the best of our information and according to
the explanations given to us, we report as under with respect to the
other matters to be included in the Auditor's Report in accordance with
Rule 11 of the Companies (Audit and Auditor) Rules, 2014:
(i) The Company does not have any pending litigations which would
impact its financial position.
(ii) The Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses.
(iii) There were no amounts which were required to be transferred to
the Investor Education and Protection Fund by the Company.
ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT
The Annexure referred to in our Independent Auditor's Report to the
members of the Company on the financial statements for the year ended 31
March 2015:
(i) According to information and explanation given to us, the company
does not have any fixed Assets.
(ii) According to information and explanation given to us, the company
does not hold any inventories.
(iii) According to information and explanation given to us, the company
has not granted any loan, secured or unsecured, to Companies, Firms and
other parties covered in the register maintained under Section 189 of
the Companies Act, 2013.
(iv) In our opinion and according to information and explanation given
to us, the Company has an adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to investment activities. The company does not have any transaction
relating to fixed assets, inventories, and sale of goods & services.
During the course of audit, we have not observed any continuing failure
to correct major weakness in internal control system.
(v) According to information and explanation given to us, the Company
has not accepted any deposit from the public.
(vi) According to information and explanation given to us, maintenance
of cost records has not been prescribed by the Central Government under
section 148(1) of the Companies Act, 2013.
(vii) (a) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing undisputed statutory dues with appropriate authorities
including Provident Fund and any other statutory dues during the year.
According to the information and explanation given to us, no undisputed
amounts payable in respect of the aforesaid dues were outstanding as at
31st March, 2015 for a period of more than six months from the date they
become payable.
(b) According to the information and explanation given to us, there has
been no dispute in respect of depositing the aforesaid dues.
(c) According to information and explanations given to us and the
records examined by us, there are no amounts that are due to be
transferred to the Investor Education and Protection Fund in accordance
with the relevant provisions of the Companies Act, 1956 (1 of 1956) and
the rules made thereunder.
(viii) In our opinion and according to information and explanation
given to us, the Company has accumulated losses exceeding fifty percent
of its networth at the end of the year. The Company has not incurred
cash losses during the financial year and the immediate preceding
financial year.
(ix) According to information and explanation given to us, the company
has not taken any loan from Financial Institutions or banks or
debenture holders requiring repayment.
(x) According to information and explanation given to us, the Company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xi) According to information and explanation given to us, the company
has not availed any term loan.
(xii) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D.N. Kanabar & Co.
Chartered Accountants
(FRN 104698W)
Deepak Kanabar
Proprietor
Membership No.: 041157
Mumbai, 30th May, 2015
Mar 31, 2014
We have audited the accompanying financial statements of United
Interactive Limited (Formerly Neemtek Organic Products 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 and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act") read with the General Circular
15/2013 dated 13th September, 2013 of the Ministry of Corporate affairs
in respect of Section 133 of the Companies Act, 2013 and in accordance
with the accounting principles generally accepted in India. This
responsibility includes the design, implementation and maintenance of
internal control relevant to the preparation and presentation of the
financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We have 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 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 Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (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, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards 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, 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
(Referred to in Paragraph (3) of our report of even date)
(i) As per information and explanation given to us the company does not
have any fixed Assets and hence, this clause is not applicable to the
company.
(ii) As per the information and explanation given to us the company
does not have any inventory hence, this clause is not applicable to the
company.
(iii) (a) In our opinion and according to the information and
explanation given to us, the company has not granted any loan, secured
or unsecured, to Companies, Firms and other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
(b) In our opinion and according to the information and explanation
given to us, the company has an outstanding unsecured loan from
director covered in the register maintained under Section 301 of the
Companies Act, 1956. Further the amount outstanding at the year end is
Rs 25 Lakhs.
(c) According to the information and explanation given to us, the rate
of interest and other terms & conditions of loan taken by company, are
prima facie not prejudicial to the interest of the company; and
(d) According to the information and explanation given to us, there is
no stipulation on periodical payment of interest. However, the company
has made provision of interest payable as at the year end and it has
been paid. Further, the loan taken is payable on demand, hence, there
is no default in repayment of principle amount.
(iv) In our opinion and according to information and explanation given
to us, internal control procedures are commensurate with the size of
the company and the nature of its business.
(v) In our opinion and according to explanation given to us, there were
no contracts or arrangements exceeding rupees five lakhs in the
financial year, therefore Clause (a) and Clause (b) are not applicable.
(vi) As the Company has not accepted any deposit from public within the
meaning of the provisions of section 58A and 58AA of the Companies Act,
1956 and rules made there under, provisions of clause 4(vi) of the
Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the company has an adequate internal audit system
commensurate with the size and the nature of the Company''s business.
(viii) In our opinion and according to information and explanation
given, maintenance of cost records has not been prescribed by the
Central Government under section 209(1)(d) of the Companies Act, 1956.
(ix) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing undisputed statutory dues with appropriate authorities
including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income Tax, Sales Tax, Service Tax, Excise
Duty and Cess during the year.
(x) In our opinion and according to information and explanation given
to us, the Company has accumulated losses exceeding fifty percent of
its networth at the end of the year. The Company has not incurred cash
losses during the financial year & immediate preceding financial year.
(xi) In our opinion and according to information and explanation given
to us, the company has not taken any loan and hence not defaulted in
repayment of dues to Financial Institutions and banks.
(xii) According to information and explanation given to us, the Company
has not granted any loans or advances on basis of security by way of
pledge of shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(xiv) In our opinion and according to information and explanation given
to us, the Company is not dealing or trading in shares, securities,
debentures, and other investments. Hence, the provisions of clause 4
(xiv) of the aforesaid order are not applicable to the Company.
(xv) According to information and explanations given to us, the company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xvi) In our opinion, and according to information and explanation
given to us the company has not availed any term loan. Therefore, the
provisions of clause 4(xvi) of the Companies (Auditor''s Report) Order,
2003 are not applicable to the Company.
(xvii) According to information and explanations given to us and on an
overall examination of the balance sheet of the company, we report that
no funds raised on short term basis have been used for long term
investment.
(xviii) According to information and explanations given to us, the
company has not made any preferential allotment of shares during the
year. Therefore, the provisions of clause 4(xviii) of the Companies
(Auditor''s Report) Order, 2003 are not applicable to the Company.
(xix) According to information and explanation given to us, the company
has not issued any debentures. Therefore, the provisions of clause
4(xix) of the Companies (Auditor''s Report) Order, 2003 are not
applicable to the Company.
(xx) The Company has not raised any money by public issues during the
year covered by our report. Therefore, the provisions of clause 4(xx)
of the Companies (Auditor''s Report) Order, 2003 are not applicable to
the Company.
(xxi) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D. N. Kanabar & Co.
Chartered Accountants
(FRN 104698W)
Deepak Kanabar
Proprietor
M. No. 041157
Place: Mumbai
Date : 30th May, 2014
Mar 31, 2013
Report on Financial Statements
We have audited the accompanying financial statements of United
Interactive Limited (Formerly Neemtek Organic Products Limited) ("the
Company"), which comprise the Balance Sheet as at March 31, 2013, 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 and cash flows of the Company in accordance with
the Accounting Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). This responsibility includes
the design, implementation and maintenance of internal control relevant
to the preparation and presentation of the financial statements that
give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor''s 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. 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, 2013;
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 Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2003 ("the
Order") issued by the Central Government of India in terms of
sub-section (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, Statement of Profit and Loss, and
Cash Flow Statement comply with the Accounting Standards 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 Directors,
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.
ANNEXURE TO THE AUDITORS'' REPORT
(Referred to in Paragraph (3) of our report of even date)
(i) As per information and explanation given to us the company does not
have any fixed Assets and hence, this clause is not applicable to the
company.
(ii) As per the information and explanation given to us the company
does not have any inventory hence, this clause is not applicable to the
company.
(iii) (a) In our opinion and according to the information and
explanation given to us, the company has not granted any loan, secured
or unsecured, to Companies, Firms and other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
(b) In our opinion and according to the information and explanation
given to us, the company has taken unsecured loan from director covered
in the register maintained under Section 301 of the Companies Act,
1956. Further the amount outstanding is Rs. 30 Lac and year end balance
is Rs. 30 Lac.
(c) According to the information and explanation given to us the rate
of interest and other term of condition of loan taken by company, are
prima facie not prejudicial to the interest of the company; and
(d) According to the information and explanation given to us, there is
no stipulation on periodical payment of interest. However, the company
has made provision of interest payable as at the year end and it has
been paid, further the loan taken is payable on demand, hence, there is
no default in repayment of principle amount.
(iv) In our opinion and according to information and explanation given
to us, internal control procedures are commensurate with the size of
the company and the nature of its business.
(v) (a) In our opinion and according to explanation given to us,
particular of contract referred to in section 301 of the Act have been
entered in the register required to be maintained under that section;
and
(b) According to the information and explanation given to us, the
transactions are prima facie reasonable to the company.
(vi) As the Company has not accepted any deposit from public within the
meaning of the provisions of section 58A and 58AA of the Companies Act,
1956 and rules made there under, provisions of clause 4(vi) of the
Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the company has an adequate internal audit system
commensurate with the size and the nature of the Company''s business.
(viii) In our opinion and according to information and explanation
given, maintenance of cost records has not been prescribed by the
Central Government under section 209(1)(d) of the Companies Act, 1956.
(ix) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income Tax, Sales Tax, Service Tax, Excise
Duty and Cess during the year with appropriate authorities.
(x) In our opinion and according to information and explanation given,
the Company has accumulated losses exceeding fifty percent of its
networth at the end of the year. The Company has not incurred cash
losses during the financial year & immediate preceding financial year.
(xi) In our opinion and according to information and explanation given
to us the company has not taken any loan hence not defaulted in
repayment of dues to Financial Institutions and banks.
(xii) According to information and explanation given to us, the Company
has not granted any loans and / or advances on basis of security by way
of pledge of shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor''s Report) Order, 2003 are not applicable to the
Company.
(xiv) In our opinion and according to information and explanation given
to us, the Company is not dealing or trading in shares, securities,
debentures, and other investments. Hence, the provisions of clause 4
(xiv) of the aforesaid order are not applicable to the Company.
(xv) According to information and explanations given to us, the company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xvi) In our opinion, and according to information and explanation
given to us the company has not availed any term loan, Therefore, the
provisions of clause 4(xvi) of the Companies (Auditor''s Report) Order,
2003 are not applicable to the Company.
(xvii) According to information and explanations given to us, and on an
overall examination of the balance sheet of the company, we report that
no funds raised on short term basis have been used for long term
investment. No long term funds have been used to finance short term
assets.
(xviii) According to information and explanations given to us, the
company has not made any preferential allotment of shares during the
year. Therefore, the provisions of clause 4(xviii) of the Companies
(Auditor''s Report) Order, 2003 are not applicable to the Company.
(xix) According to information and explanation given to us the company
has not issued any debentures. Therefore, the provisions of clause
4(xix) of the Companies (Auditor''s Report) Order, 2003 are not
applicable to the Company.
(xx) The Company has not raised any money by public issues during the
year covered by our report. Therefore, the provisions of clause 4(xx)
of the Companies (Auditor''s Report) Order, 2003 are not applicable to
the Company.
(xxi) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D.N. Kanabar & Co.
Chartered Accountants
(FRN 104698W)
Deepak Kanabar
Proprietor
M. No. 041157
Date : May 30, 2013
Place : Mumbai
Mar 31, 2012
1) We have audited the attached Balance Sheet of UNITED INTERACTIVE
LIMITED as at 31st March, 2012 and also the Profit & Loss Account and
the Cash Flow Statement of the Company for the year ended on that date
annexed thereto. These financial statements are the responsibility of
the Management. Our responsibility is to express opinion on these
financial statements based on our audit.
2) We have 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 from material misstatement. An audit
includes examining, on 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.
3) As required by the Companies (Auditor's Report) Order, 2003 As
amended by the Companies (Auditor's Report) Order (Amendment), 2004
issued by the Company Law Board under Section 227(4A) of the Companies
Act, 1956 and on the basis of such checks as considered appropriate, as
per information and explanations furnished to us and the books and
records examined by us in the normal course of audit, we enclose in the
annexure our report on the matters specified in paragraphs 4 and 5 of
the said order.
4) Further to our comments in the Annexure referred to in paragraph (1)
above.
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 accounts 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 and Profit and Loss Account referred to in this
report are in agreement with the books of account.
d) in our opinion the Profit & Loss Account, Balance Sheet and Cash
Flow Statement 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
as on 31.03.2012, and taken on the record by the Board of Directors, We
report that none of the Directors of the Company is disqualified as on
31.03.2012 from being appointed as a Director u/s 274 (1) (g) of the
Companies Act, 1956.
f) In our opinion and to the best of our knowledge and according to
information and explanation given to us, the said accounts read with
Significant Accounting Policies and Notes to the Accounts, give
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 Balance Sheet, of the state of the affairs of the
Company as at 31st March, 2012, and
b) in the case of the Profit & Loss Account, of the Profit for the year
ended on that date, and
c) In case of the Cash Flow statement, of the cash flows for the year
ended on that date.
ANNEXURE TO THE AUDITORS' REPORT
(Referred to in Paragraph (3) of our report of even date)
(i) As per information and explanation given to us the company does not
have any fixed Assets and hence, this clause is not applicable to the
company.
(ii) As per the information and explanation given to us the company
does not have any inventory hence, this clause is not applicable to the
company.
(iii) (a) In our opinion and according to the information and
explanation given to us, the company has not granted any loan, secured
or unsecured, to Companies, Firms and other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
(b) In our opinion and according to the information and explanation
given to us, the company has taken unsecured loan from director covered
in the register maintained under Section 301 of the Companies Act,
1956. Further the amount outstanding end of financial year is
Rs.30,00,000.
(c) According to the information and explanation given to us the rate
of interest and other term of condition of loan taken by company, are
prima facie not prejudicial to the interest of the company; and
(d) According to the information and explanation given to us, there is
no stipulation on periodical payment of interest. However, the company
has made provision of interest payable as at the year end and it has
been paid, further the loan taken is payable on demand, hence, there is
no default in repayment of principle amount.
(iv) In our opinion and according to information and explanation given
to us, internal control procedures are commensurate with the size of
the company and the nature of its business.
(v) (a) In our opinion and according to explanation given to us,
particular of contract referred to in section 301 of the Act have been
entered in the register required to be maintained under that section;
and
(b) According to the information and explanation given to us, the
transactions are prima facie reasonable to the company.
(vi) As the Company has not accepted any deposit from public within the
meaning of the provisions of section 58A and 58AA of the Companies Act,
1956 and rules made there under, provisions of clause 4(vi) of the
Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the company has an adequate internal audit system
commensurate with the size and the nature of the Company's business.
(viii) In our opinion and according to information and explanation
given, maintenance of cost records has not been prescribed by the
Central Government under section 209(1)(d) of the Companies Act, 1956.
(ix) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income Tax, Sales Tax, Service Tax, Excise
Duty and Cess during the year with appropriate authorities.
(x) In our opinion and according to information and explanation given,
the Company has accumulated losses exceeding fifty percent of its
networth at the end of the year. The Company has not incurred cash
losses during the financial year & immediate preceding financial year.
(xi) In our opinion and according to information and explanation given
to us the company has not taken any loan hence not defaulted in
repayment of dues to Financial Institutions and banks.
(xii) According to information and explanation given to us, the Company
has not granted any loans and / or advances on basis of security by way
of pledge of shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor's Report) Order, 2003 are not applicable to
the Company.
(xiv) In our opinion and according to information and explanation given
to us, the company is not dealing or trading in shares, securities,
debentures, and other investments. However, the company has made
investment in its subsidiary company. The company has maintained proper
records of transaction and contract and timely entry have been made
therein. Also shares have been held by the company in its own name.
(xv) According to information and explanations given to us, the company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xvi) In our opinion, and according to information and explanation
given to us the company has not availed any term loan, Therefore, the
provisions of clause 4(xvi) of the Companies (Auditor's Report)
Order, 2003 are not applicable to the Company.
(xvii) According to information and explanations given to us, and on an
overall examination of the balance sheet of the company, we report that
no funds raised on short term basis have been used for long term
investment. No long term funds have been used to finance short term
assets.
(xviii) According to information and explanations given to us, the
company has not made any preferential allotment of shares during the
year. Therefore, the provisions of clause 4(xviii) of the Companies
(Auditor's Report) Order, 2003 are not applicable to the Company.
(xix) According to information and explanation given to us the company
has not issued any debentures. Therefore, the provisions of clause
4(xix) of the Companies (Auditor's Report) Order, 2003 are not
applicable to the Company.
(xx) The Company has not raised any money by public issues during the
year covered by our report. Therefore, the provisions of clause 4(xx)
of the Companies (Auditor's Report) Order, 2003 are not applicable to
the Company.
(xxi) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D.N. Kanabar & Co.
Chartered Accountants
(FRN 104698W)
Deepak Kanabar
Proprietor
M. No.041157
Date : August 29, 2012
Place : Mumbai
Mar 31, 2011
1) We have audited the attached Balance Sheet of UNITED INTERACTIVE
LIMITED as at 31st March, 2011 and also the Profit & Loss Account and
the Cash Flow Statement of the Company for the year ended on that date
annexed thereto. These financial statements are the responsibility of
the Management. Our responsibility is to express opinion on these
financial statements based on our audit.
2) We have 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 from material misstatement. An audit
includes examining, on 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.
3) As required by the Companies (Auditor's Report) Order, 2003 (as
amended by 2004) issued by the Company Law Board under Section 227(4A)
of the Companies Act, 1956 and on the basis of such checks as
considered appropriate, as per information and explanations furnished
to us and the books and records examined by us in the normal course of
audit, we enclose in the annexure our report on the matters specified
in paragraphs 4 and 5 of the said order.
4) Further to our comments in the Annexure referred to in paragraph (1)
above.
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 accounts 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 and Profit and Loss Account referred to in this
report are in agreement with the books of account.
d) In our opinion the Profit & Loss Account, Balance Sheet and Cash
Flow Statement 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
as on 31.03.2011, and taken on the record by the Board of Directors, We
report that none of the Directors of the Company is disqualified as on
31.03.2011 from being appointed as a Director u/s 274 (1) (g) of the
Companies Act, 1956.
f) In our opinion and to the best of our knowledge and according to
information and explanation given to us, the said accounts read with
Significant Accounting Policies and Notes to the Accounts, give
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 Balance Sheet, of the state of the affairs of the
Company as at 31st March, 2011, and
b) In the case of the Profit & Loss Account, of the Profit for the year
ended on that date, and
c) In case of the Cash Flow statement, of the cash flows for the year
ended on that date.
ANNEXURE TO THE AUDITORS' REPORT
(Referred to in Paragraph (3) of our report of even date)
(i) As per information and explanation given to us the company does not
have any fixed Assets and hence, this clause is not applicable to the
company.
(ii) As per the information and explanation given to us the company
does not have any inventory hence, this clause is not applicable to the
company.
(iii) (a) In our opinion and according to the information and
explanation given to us, the company has not granted any loan, secured
or unsecured, to Companies, Firms and other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
(b) In our opinion and according to the information and explanation
given to us, the company has taken unsecured loan from director covered
in the register maintained under Section 301 of the Companies Act,
1956. Further the amount involved during the year is Rs.31,36,702.
(c) According to the information and explanation given to us the rate
of interest and other term of condition of loan taken by company, are
prima facie not prejudicial to the interest of the company; and
(d) According to the information and explanation given to us, there is
no stipulation on periodical payment of interest. However, the company
has made provision of interest payable as at the year end and it has
not been paid, further the loan taken is payable on demand, hence,
there is no default in repayment of principle amount.
(iv) In our opinion and according to information and explanation given
to us, internal control procedures are commensurate with the size of
the company and the nature of its business.
(v) (a) In our opinion and according to explanation given to us,
particular of contract referred to in section 301 of the Act have been
entered in the register required to be maintained under that section;
and
(b) According to the information and explanation given to us, the
transactions are prima facie reasonable to the company.
(vi) As the Company has not accepted any deposit from public within the
meaning of the provisions of section 58A and 58AA of the Companies Act,
1956 and rules made there under, provisions of clause 4(vi) of the
Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the company has an adequate internal audit system
commensurate with the size and the nature of the Company's business.
(viii) In our opinion and according to information and explanation
given, maintenance of cost records has not been prescribed by the
Central Government under section 209(1)(d) of the Companies Act, 1956.
(ix) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income Tax, Sales Tax, Service Tax, Excise
Duty and Cess during the year with appropriate authorities.
(x) In our opinion and according to information and explanation given,
the Company has accumulated losses exceeding fifty percent of its
networth at the end of the year. The Company has not incurred cash
losses during the financial year. However, the company had incurred
cash loss of Rs. 75,16,719 in the immediate preceding financial year.
(xi) In our opinion and according to information and explanation given
to us the company has not defaulted in repayment of dues to Financial
Institutions and banks.
(xii) According to information and explanation given to us, the Company
has not granted any loans and / or advances on basis of security by way
of pledge of shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditor's Report) Order, 2003 are not applicable to the
Company.
(xiv) In our opinion and according to information and explanation given
to us, the company is not dealing or trading in shares, securities,
debentures, and other investments. However, the company has made
investment in its subsidiary company. The company has maintained proper
records of transaction and contract and timely entry have been made
therein. Also shares have been held by the company in its own name.
(xv) According to information and explanations given to us, the company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xvi) In our opinion, and according to information and explanation
given to us the company has not availed any term loan, Therefore, the
provisions of clause 4(xvi) of the Companies (Auditor's Report) Order,
2003 are not applicable to the Company.
(xvii) According to information and explanations given to us, and on an
overall examination of the balance sheet of the company, we report that
no funds raised on short term basis have been used for long term
investment. No long term funds have been used to finance short term
assets.
(xviii) According to information and explanations given to us, the
company has not made any preferential allotment of shares during the
year. Therefore, the provisions of clause 4(xviii) of the Companies
(Auditor's Report) Order, 2003 are not applicable to the Company.
(xix) According to information and explanation given to us the company
has not issued any debentures. Therefore, the provisions of clause
4(xix) of the Companies (Auditor's Report) Order, 2003 are not
applicable to the Company.
(xx) The Company has not raised any money by public issues during the
year covered by our report. Therefore, the provisions of clause 4(xx)
of the Companies (Auditor's Report) Order, 2003 are not applicable to
the Company.
(xxi) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D. N. Kanabar & Co.
Chartered Accountants
(FRN 104698W)
Sd/-
Deepak Kanabar
Proprietor
M. No. 041157
Date : August 29, 2011
Place : Mumbai
Mar 31, 2010
1) We have audited the attached Balance Sheet of UNITED INTERACTIVE
LIMITED as at 31st March, 2010 and also the Profit & Loss Account of
the Company for the year ended on that date annexed thereto. These
financial statements are the responsibility of the Management. Our
responsibility is to express opinion on these financial statements
based on our audit.
2) We have 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 from material misstatement. An audit
includes examining, on 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.
3) As required by the Companies (Auditors Report) Order, 2003 issued
by the Company Law Board under Section 227(4A) of the Companies Act,
1956 and on the basis of such checks as considered appropriate, as per
information and explanations furnished to us and the books and records
examined by us in the normal course of audit, we enclose in the
annexure our report on the matters specified in paragraphs 4 and 5 of
the said order.
4) Further to our comments in the Annexure referred to in paragraph (1)
above.
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 accounts 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 and Profit and Loss Account referred to in this
report are in agreement with the books of account.
d) in our opinion the Profit & Loss Account and Balance Sheet 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
as on 31.03.2010, and taken on the record by the Board of Directors, We
report that none of the Directors of the Company is disqualified as on
31.03.2010 from being appointed as a Director u/s 274 (1) (g) of the
Companies Act, 1956.
f) In our opinion and to the best of our knowledge and according to
information and explanation given to us, the said accounts read with
Significant Accounting Policies and Notes to the Accounts, give
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 Balance Sheet, of the state of the affairs of the
Company as at 31st March, 2010, and
b) in the case of the Profit & Loss Account, of the Loss for the year
ended on that date.
c) In case of the Cash Flow statement, of the cash flows for the year
ended on that date.
ANNEXURE TO THE AUDITORS REPORT (Referred to in Paragraph (3) of
our report of even date)
(i) a. The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
b. As per information and explanation given to us, the Fixed Assets of
the Company have not been physically verified by the Management.
Therefore, discrepancy, if any, is not ascertainable.
c. During the year, Company disposed off the unit at Vellore alongwith
entire block of fixed assets. However, it has not affected the going
concern aspect of the Company.
(ii) a. As per the information and explanation given to us the
inventory have been
physically verified by the management during the year. However, there
is no inventory as at the year end.
b. As per information and explanation given to us, procedure of
physical verification of inventory followed by the management are
reasonable and adequate in relation to the size of the company and
nature of its business.
c. The company is maintaining proper records of inventory. In our
opinion, no discrepancies are noticed on physical verification of
inventory.
(iii) In our opinion and according to the information and explanation
given to us, the company has not granted or taken any loan, secured or
unsecured, to / from Companies, Firms and other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
(iv) In our opinion and according to information and explanation given
to us, internal control procedures are commensurate with the size of
the company and the nature of its business.
(v) (a) In our opinion and according to explanation given to us , we
are of the opinion that there are no transactions exceeding Rs. 5 Lacs
in respect of any party that need to be entered into a register in
pursuance of Section 301.
In absence of any transaction in (a) above, clause (b) is not
applicable.
(vi) As the Company has not accepted any deposit from public within the
meaning of the provisions of section 58A and 58AA of the Companies Act,
1956 and rules made there under, provisions of clause 4(vi) of the
Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
(vii) In our opinion, the company has an adequate internal audit system
commensurate with the size and the nature of the Companys business.
(viii) In our opinion and according to information and explanation
given, maintenance of cost records has not been prescribed by the
Central Government under section 209(1 )(d) of the Companies Act, 1956.
(ix) According to information and explanations given to us and the
records examined by us, the Company has been generally regular in
depositing with appropriate authorities undisputed statutory dues
including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income Tax, Sales Tax, Service Tax, Excise
Duty and Cess during the year with appropriate authorities.
(x) In our opinion and according to information and explanation given,
the Company has accumulated losses exceeding fifty percent of its
networth at the end of the year. The Company has incurred cash losses
of Rs. 75,16,719 during the financial year. However, the company had
not incurred cash losses in the immediate preceding financial year.
(xi) In our opinion and according to information and explanation given
to us the company has not defaulted in repayment of dues to Financial
Institutions and banks.
(xii) According to information and explanation given to us, the Company
has not granted any loans and / or advances on basis of security by way
of pledge of shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi mutual
benefit fund / society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
Company.
(xiv) In our opinion and according to information and explanation given
to us, the Company has maintained proper records of transactions and
contracts and timely entries have been made therein. Also shares,
securities and other securities have been held by the company in its
own name.
(xv) According to information and explanations given to us, the company
has not given any guarantee for loans taken by others from banks or
financial institutions.
(xvi) In our opinion, and according to information and explanation
given to us the company has not availed any term loan, Therefore, the
provisions of clause 4(xvi) of the Companies (Auditors Report) Order,
2003 are not applicable to the Company.
(xvii) According to information and explanations given to us, and on an
overall examination of the balance sheet of the company, we report that
no funds raised on short term basis have been used for long term
investment. No long term funds have been used to finance short term
assets except permanent working capital.
(xviii) According to information and explanations given to us, the
company has not made any preferential allotment of shares during the
year. Therefore, the provisions of clause 4(xviii) of the Companies
(Auditors Report) Order, 2003 are not applicable to the Company.
(xix) According to information and explanation given to us the company
has not issued any debentures. Therefore, the provisions of clause
4(xix) of the Companies (Auditors Report) Order, 2003 are not
applicable to the Company.
(xx) The Company has not raised any money by public issues during the
year covered by our report. Therefore, the provisions of clause 4(xx)
of the Companies (Auditors Report) Order, 2003 are not applicable to
the Company.
(xxi) As per the information and explanation given to us, no fraud on
or by the company has been noticed or reported during the year.
For D. N. Kanabar & Co.
Chartered Accountants (FRN 104698W)
Deepak Kanabar
Proprietor
M. No. 041157
Date: 12/08/2010
Place : Mumbai
Mar 31, 2009
1) I have audited the attached balance sheet of M/s. Neemtek Organic
Products Limited., as at 31st March, 2009 and the profit and loss
account for the year ended on that date, annexed thereto. These
financial statements are the responsibility of the companys
management. My responsibility is to express an opinion on this
financial statement based on my audit.
2) I conducted my audit in accordance with auditing standards generally
accepted in India. These standards require that I plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material mis-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. I believe that my audit provides a reasonable basis for
my opinion.
3) As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government issued in terms of sub-section (4A) of
Section 227 of the Companies Act, 1956, I enclosed in the annexure a
statement on the matters specified in the paragraphs 4 & 5 of the said
order.
4) Further to my comments in the annexure referred to in paragraph 3
above, I report (subject to point No.9 contained in the Annexure to the
Auditors report) that:
(a) I have obtained all the information and explanations, which to the
best of my knowledge and belief were necessary for the purpose of my
audit.
(b) In my opinion, proper books of account as required by law have been
kept by the company so far as it appears from my examination of those
books.
(c) The balance sheet and the profit and loss account, dealt with by
this report, are in agreement with the books of account.
(d) In my opinion, the balance sheet and the profit and loss account
dealt with by this report comply with the accounting standards referred
to in sub section (3C) of section 211 of the Companies Act, 1956 to the
extent applicable.
(e) On the basis of the written representations, received from the
directors as on 31st March, 2009 and taken on record by the Board of
Directors, I report that none of the directors is disqualified as on
31st March, 2009 from being appointed as director in terms of clause
(g) of sub section (1) of section 274 of the Companies Act, 1956.
(f) In my opinion and to the best of my information and according to
the explanations given to me, 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.:
i. In the case of Balance Sheet, of the state of affairs of the
company as at 31st March, 2009 &
ii. In the case of profit and loss account, of the Profit for the year
ended of that date
ANNEXURE TO THE AUDITORS REPORT (Referred to in 3 of my report of even
date)
1) The Company is maintaining proper records, showing full particulars
including quantitative details and situation of fixed assets. Fixed
Assets have been physically verified by the Management during the year
based on a phased programme of verifying all the assets over three
years, which in my opinion is reasonable having regard to the size of
the Company and the nature of its fixed assets. There were no
discrepancies noticed on such verification. There was no disposal of
fixed assets during the year.
2) The Inventory has been physically verified during the year by the
management. In my opinion, the frequency of such verification is
reasonable. 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. The company is
maintaining proper records of inventory. The discrepancies noticed on
verification between the physical stocks and the book records were not
material.
3) In my opinion and according to the information and explanations
given to me, the Company has not granted any loan, secured or unsecured
to/from Companies, firms or other parties covered in the register
maintained under section 301 of the Companies Act, 1956. The Company
has taken loan, from Companies, firms or other parties covered in the
register maintained under section 301 of the Companies Act, 1956. In my
opinion and according to the information and explanations given to me,
the interest and other terms of loans taken are prima facie not
prejudicial to the interest of the company. The terms of repayment of
the principal on the loans are not specified in respect of the loans
taken. Therefore I am unable to comment on whether the company is
regular in repayment of principal amount.
4) In my opinion and according to the information and explanations
given to me, there are adequate internal control procedures
commensurate with the size of the company and the nature of its
business with regard to purchase of fixed assets and sale of goods and
services. During the course of my audit, no major weakness has been
noticed in the internal control.
5) In my opinion and according to the information and explanations
given to me, we are of the opinion that the particulars of contracts or
arrangements referred to in section 301 of the Act have been entered in
the register required to be maintained in pursuance of section 301 of
the Companies Act, 1956.
6) In my opinion and according to the information and explanations
given to me, the company has not accepted any deposit from the public
and therefore compliance with the provisions of section 58A and 58 AA
of the Companies Act, 1956 do not arise.
7) In my opinion, the companys internal audit system is adequate with
the size and nature of its business.
8) The Central Government has not prescribed the maintenance of cost
records under section 209 (1) (d) of the Companies Act, 1956.
9) According to the information and explanations given to me and on the
basis of my examination of Books of account, the company has been
generally regular in depositing undisputed statutory dues, including
Provident Fund, Investor Education and Protection Fund, Employees State
Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Excise Duty
and Customs Duty and Cess during the year with appropriate authorities,
except for an undisputed sales tax liability of Rs. 133547/-which has
been due by the company for more than six months from the date of when
they became due for payment.
10) According to the information and explanations given to me and on
the basis of my examination of Books of account, there were no
undisputed amounts payable in respect of Wealth Tax, Service Tax,
Customs Duty and Excise Duty, which are outstanding as at 31st March,
2009 for a period of more than six months from the date they become
payable.
11) The accumulated losses of the Company is not more than fifty
percent of its net worth and the company has not incurred cash losses
during the financial year covered by my audit.
12) In my opinion and according to the information and explanations
given to me, the company has not defaulted in repayment of dues to a
financial institution or bank.
13) According to the information and explanations given to me, the
company has not granted any loans and advances on the basis of security
by way of pledge of shares, debentures and other securities.
14) The company is not a chit fund or a nidhi / mutual benefit fund /
society. Therefore the provisions of clause 4 (xiii) of the order, are
not applicable to the company.
15) The company is not dealing in or trading in shares, securities,
debentures and other investments. Accordingly, the provisions of clause
4(xiv) of the order are not applicable to the company.
16) According to the information and explanations given to me the
company has not given any guarantee for loans taken by others from
banks or financial institutions.
17) In my opinion and according to the explanations given to me, there
are no term loans have been obtained during the year, except inter
corporate deposits from M/s. Neo Neem Extractions (P) Ltd and cash
credit from M/s. Axis Bank Limited, Vellore.
18) According to the information and explanations given to me and on an
overall examination of the balance sheet of the company, I report that
no funds raised on short term basis have been used for long term
investment of the company and vice-versa.
19) According to the information and explanations given to me the
company has not made any preferential allotment of shares to the
parties and companies covered in the register maintained under section
301 of the Act.
20) According to the information and explanations given to me the
company has not made any issue of secured bonds during the year under
audit. Hence the relevant paragraph is not applicable.
21) According to the information and explanations given to me the
company has not raised money by public issues during the year.
22) To the best of my knowledge and belief and according to the
information and explanations given to me, no fraud by the company has
been noticed or reported during the year.
Sd/-
Place: Chennai N.SUBRAMANIAN
Date :29.08.2009 CHARTERED ACCOUNTANT