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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Pharmaceuticals > लेखा परीक्षकों की रिपोर्ट से एलकॉन पैरेंटरल (इंडिया) - बीएसई: 524448, NSE: N.A

एलकॉन पैरेंटरल (इंडिया)

बीएसई: 524448  |  NSE: N.A  |  ISIN: INE027C01011  |  Pharmaceuticals

खोजें एलकॉन पैरेंटरल (इंडिया) कनेक्शन Mar 14
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
Report on the Financial Statements
 
 1.  We have audited the accompanying financial statements of Ahlcon
 Parenterals (India) Limited (the Company), which comprise the Balance
 Sheet as at March 31st, 2015, the Statement of Profit and Loss, the
 Cash Flow Statement for the year then ended, and a summary of the
 significant accounting policies and other explanatory information.
 
 Management''s Responsibility for the Financial Statements
 
 2.  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 of these financial statements to 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 of the assets of the Company and
 for preventing and detecting frauds and other irregularities; selection
 and application of appropriate accounting policies; making judgments
 and estimates that are reasonable and prudent; and design,
 implementation and maintenance of 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
 
 3.  Our responsibility is to express an opinion on these financial
 statements based on our audit.
 
 4.  We have taken into account the provisions of the Act and the Rules
 made thereunder including the accounting standards and matters which
 are required to be included in the audit report.
 
 5.  We conducted our audit in accordance with the Standards on Auditing
 specified under Section 143 (10) of the Act and other applicable
 authoritative pronouncements issued by the Institute of Chartered
 Accountants of India. Those Standards and pronouncements 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.
 
 6.  An audit involves performing procedures to obtain audit evidence
 about the amounts and the disclosures in the financial statements.  The
 procedures selected depend on the 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 the accounting policies used and the reasonableness
 of the accounting estimates made by the Company''s Directors, as well as
 evaluating the overall presentation of the financial statements.
 
 7.  We believe that the audit evidence we have obtained is sufficient
 and appropriate to provide a basis for our audit opinion on the
 financial statements.
 
 Opinion
 
 8.  In our opinion and to the best of our information and according to
 the explanations given to us, the aforesaid financial statements give
 the information required by the Act in the manner so required and give
 a true and fair view in conformity with the accounting principles,
 generally accepted in India of the state of affairs of the company as
 at March31, 2015, and its profit and its cash flows for the year ended
 on that date.
 
 Report on Other Legal and Regulatory Requirements
 
 9.  As required by ''the Companies (Auditor''s Report) Order, 2015,
 issued by the Central Government of India in terms of sub-section (11)
 of section 143 of the Act (hereinafter referred to as the Order), and
 on the basis of such checks of the books and records of the Company as
 we considered appropriate and according to the information and
 explanations given to us, we give in the Annexure a statement on the
 matters specified in paragraphs 3 and 4 of the Order.
 
 10.  As required by Section 143 (3) of the Act, we report that:
 
 (a) We have sought and obtained all the information and explanations
 which to the best of our knowledge and belief were necessary for the
 purposes of our audit.
 
 (b) In our opinion, proper books of account as required by law have
 been kept by the Company so far as it appears from our examination of
 those books.
 
 (c) The Balance Sheet, the Statement of Profit and Loss, and the Cash
 Flow Statement dealt with by this Report are in agreement with the
 books of account.
 
 (d) In our opinion, the aforesaid financial statements comply with the
 Accounting Standards specified under Section 133 of the Act, read with
 Rule 7 of the Companies (Accounts) Rules, 2014.
 
 (e) On the basis of the written representations received from the
 directors as on March 31, 2015 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) With respect to the other matters to be included in the Auditor''s
 Report in accordance with Rule 11 of the Companies (Audit and Auditors)
 Rules, 2014, in our opinion and to the best of our knowledge and belief
 and according to the information and explanations given to us:
 
 i) The Company has disclosed the impact of pending litigations as at
 March 31st, 2015 on its financial position in its financial statements-
 Refer note no. 25 to the financial statements.
 
 ii) The Company did not have any long-term contracts including
 derivative contracts, for which there were any material foreseeable
 losses.
 
 iii) There has been no delay in transferring amounts, required to be
 transferred, to the Investor Education and Protection Fund by the
 Company during the year ended March 31, 2015
 
 Annexure to Independent Auditors'' Report
 
 Referred to in paragraph 9 of the Independent Auditors'' Report of even
 date to the members of Ahlcon Parenterals (India)Limited on the
 financial statements as of and for the year ended March 31, 2015
 
 i.  (a) The Company is maintaining proper records showing full
 particulars, including quantitative details and situation, of fixed
 assets.
 
 (b) The fixed assets have been physically verified by the management
 during the year in a phased manner and no material discrepancies have
 been noticed on such verification.  In our opinion, the frequency of
 physical verification of fixed assets is reasonable having regard to
 the size of the Company and the nature of its assets.
 
 ii.  (a) The management has conducted physical verification of
 inventory at reasonable intervals.
 
 (b) The procedures of 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 is maintaining proper records of inventory and no
 material discrepancies in inventory were noticed on physical
 verification.
 
 iii) According to the information and explanations given to us, the
 Company has not granted any loans, secured or unsecured, to companies,
 firms or other parties covered in the register maintained under Section
 189 of the Companies Act, 2013. Therefore, the provisions of Clause
 3(iii), (iii)(a) and (iii)(b) of the said Order are not applicable to
 the Company.
 
 iv.  In our opinion, and according to the information and explanations
 given to us, there is an adequate internal control system commensurate
 with the size of the Company and the nature of its business for the
 purchase of inventory and fixed assets and for the sale of goods and
 services. Further, on the basis of our examination of the books and
 records of the Company, and according to the information and
 explanations given to us, we have neither come across, nor have been
 informed of, any continuing failure to correct major weaknesses in the
 aforesaid internal control system.
 
 v.  The Company has not accepted any deposits from the public within
 the directives issued by the Reserve Bank of India and the provisions
 of section 73 to 76 or any other relevant provisions of the Companies
 Act, 2013 and the rules framed there under. Refer Note no 43 to the
 financial statements.
 
 vi.  We have broadly reviewed the books of account maintained by the
 Company pursuant to the rules made by the Central Govt. for the
 maintenance of Cost Records under sub section 1 of section 148 of the
 Companies Act, 2013 and are of the opinion that prima facie the
 prescribed accounts and records have been maintained. We have however,
 not made a detailed examination of these records.
 
 vii. (a) According to the information and explanations given to us and
 the records of the Company examined by us, in our opinion, the Company
 is regular in depositing the undisputed statutory dues, including
 provident fund, employees'' state insurance, sales tax, wealth tax,
 service tax, duty of customs, duty of excise, value added tax, cess and
 other material statutory dues, as applicable, with the appropriate
 authorities except for delay in depositing income tax dues (TDS) in
 some cases.
 
 (b) According to the information and explanations given to us, no
 undisputed statutory dues, including provident fund, employees'' state
 insurance, income tax, sales tax, wealth tax, service tax, duty of
 customs, duty of excise, value added tax, cess and other material
 statutory dues, as applicable, were outstanding at the year end, for a
 period more than six months from the date they become payable with the
 appropriate authorities.
 
 (c) According to the information and explanations given to us and the
 records of the Company examined by us, the dues outstanding of
 income-tax, wealth-tax, sales tax, service-tax, duty of customs, duty
 of excise, value added tax and cess which have not been deposited on
 account of any dispute as at March 31, 2015 are stated below:-
 
 NATURE OF            NATURE OF DUES                     AMOUNT (Rs.)
 STATUTE
 
 Central Excise       Excise Duty on Physician Sample        592,854/-
 
 Central Excise       Service Tax on Foreign                1,25,000/-
                      based services                Stay Received on
                                                        Rs. 6,25,000/-
 
 Central Excise       Cenvat Credit on Photocopy 
                      of bill of entry                      6,19,875/-
 
                      Penalty on above                      6,19,875/-
 
 Central Excise       Modvat Reversed on Packing            1,04,170/-
                      Material destroyed
 
 Central Excise       Service Tax Input outward freight     1,79,002/-
 
 Central Excise       Penalty on above                      1,79,002/-
 
 Central Excise       Service tax input on 
                      transport service                     1,13,189/-
 
 Central Excise       Penalty on Above                      1,13,189/-
 
 Central Sale Tax     Demand against non submission           23,761/-
                      of the foms
 
 Entry Tax            Demand for entry Tax                 15,31,347/-
 
 Central Exise        Wrongly availed exemption               74,859/-
 
 Central Exise        Renting of motor vehicle                41,344/-
 
 Central Exise        Freight and Documentation             7,69,646/-
                      charge Export
 
 CENVAT Credit        Wrongly taken CENVAT credit          1,708,352/-
                      on professional charges to IC
 
 Central Exise        Cenvat Credit on flowing ineligible   2,20,244/-
                      input service
 
 Sales Tax            C Form liability                      1,57,731/-
 
 NATURE OF STATUTE    PERIOD TO WHICH         FORUM WHERE DISPUTE IS 
                      AMOUNT RELATES          PENDING
 
 Central Excise       April 05 to March, 06   Customs, Excise and
                                              Service Tax appellate
                                              Tribunal, New Delhi
 
 Central Exise        April 06 to August 09   Customs, Excise and 
                                              Service Tax appellate 
                                              Tribunal
 
 Central Exise        April 09 March 10       Joint Commissioner, Jaipur
 
                                                      -do-
 
 Central Exise        April 06 to March, 07   Commissioner Appeal,Bhiwadi
 
 Central Exise        April 06 to March, 07   Commissioner Appeal,Jaipur
 
 Central Exise        April 06 to March, 07   Commissioner Appeal,Jaipur
 
 Central Exise        April 06 to March, 07   Rajasthan High Court
 
 Central Exise        April 06 to March, 07   Commissioner Appeal,Jaipur
 
 Central Sales Tax    April 07 to March, 12   Sale Tax Asst.
                                              Commissioner, Bhiwadi
 
 Entry Tax            April 07 to March, 14   High Court Rajasthan
 
 Central Exise        April 13 to March, 14   Superitendent of Excise, 
                                              Bhiwadi
 
 Central Exise        April 13 to March, 14   Superitendent of Excise, 
                                              Bhiwadi
 
 Central Exise        April 13 to March, 14   Superitendent of Excise, 
                                              Bhiwadi
 
 CENVAT Credit        April 14 to March, 15   Asst. Commissioner, Bhiwadi
 
 Central Exise        April 13 to March, 14   Superitendent of Excise, 
                                              Bhiwadi
 
 Sales Tax April 13 to March, 14 Sale Tax Asst.  Commissioner, Bhiwadi
 (d) The amount required to be transferred to Investor Education and
 Protection Fund has been transferred within the stipulated time in
 accordance with the provisions of the Companies Act, 2013 and the rules
 made thereunder.
 
 viii. The Company has no accumulated losses as at the end of the
 financial year and it has not incurred any cash losses in the financial
 year ended on that date or in the immediately preceding financial year.
 
 ix.  According to the records of the Company examined by us and the
 information and explanation given to us, the Company has not defaulted
 in repayment of dues to any financial institution or bank or debenture
 holders as at the balance sheet date.
 
 x.  According to the information and explanations given to us, the
 Company has not given any guarantee for loans taken by others from
 banks and financial institutions.
 
 xi.  Based on the audit procedures applied by us & according to the
 information & explanations provided by the management, the term loans
 taken by the company during the year have been applied for the purpose
 for which the loans were obtained.
 
 xii.  During the course of our examination of the books and records of
 the Company, carried out in accordance with the generally accepted
 auditing practices in India, and according to the information and
 explanations given to us, we have neither come across any instance of
 material fraud on or by the Company, noticed or reported during the
 year, nor have we been informed of any such case by the Management.
 
                                       For ARUN K GUPTA & ASSOCIATES
 
                                               Chartered Accountants
 
                                     Firm Registration No.  000605N
 
                                               (GIREESH KUMAR GOENKA)
 
                                                             Partner 
 
                                                       M. No- 096655
 
 Place: New Delhi
 
 Dated: 28.05.2015
स्रोत: रेलीगरे टेचनोवा

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