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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Pharmaceuticals > लेखा परीक्षकों की रिपोर्ट से अल्फा ड्रग्स इंडिया - बीएसई: 500006, NSE: ALPHADRUG

अल्फा ड्रग्स इंडिया

बीएसई: 500006  |  NSE: ALPHADRUG  |  ISIN: INE256B01026  |  Pharmaceuticals

खोजें अल्फा ड्रग्स इंडिया कनेक्शन
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '05
1. We have audited the attached Balance Sheet of Alpha Drug India Ltd.,
 as at 31st March 2005 and related Profit and Loss Account for the year
 ended on that date annexed thereto and the Cash Flow Statement for the
 year ended on that date. These Financial Statements are the
 responsibility of the Company's management. Our responsibility is to
 express an opinion on these financial statements based on our audit.
 
 2. We conducted our audit in accordance with 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 misstatements. An audit
 includes examining, on a test basis, evidence supporting the amounts
 and disclosure 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 Statement on Companies (Auditors' Report) Order,
 2003 issued by the Central Government of India in terms of Sub-Section
 4A of Section 227 (4A) of the Companies Act, 1956, we enclose in the
 Annexure a statement on the matters specified in Paragraph 4 and 5 of
 the said order.
 
 4. Further to our comments in the Annexure referred to in Paragraph 3
 above, we report that:
 
 (a) We have obtained all the information and explanations, which to the
 best of our knowledge and belief were necessary for the 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 appears from our examination of
 these books;
 
 (c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement
 dealt with by this report are in agreement with the books of account;
 
 (d) In our opinion, the Balance Sheet & 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;
 
 (e) On the basis of written representations received from the Directors
 as on 31st March 2005 and taken on records, none of the Directors of
 the Company is, prima-facle, as at 31st March, 2005 disqualified from
 being appointed as Director of the Company, under clause (g) of
 sub-section (1) of Section 274 of the Companies Act, 1956.
 
 (f) In our opinion and to the best of our information and according to
 the explanations given to us, the said accounts read together with
 notes thereon give the information required by the Companies Act, 1956,
 in the manner so required and give a true and fair view in conformity
 with the accounting principles, generally accepted in India:
 
 i) In the case of the Balance Sheet, of the state of the affairs of the
 Company as at 31st March, 2005;
 
 ii) In the case of the Profit & Loss Account, of the Loss of the
 Company for the year ended on that date; and
 
 iii) In the case of Cash Flow statement, of the Cash Flows Statement
 for the year ended on that date.
 
 For S. TANDON & ASSOCIATES
 Chartered Accountants
 
 (Kamal Kant Gambhir)
 Partner
 
 Place : Chandigarh
 Date  : 26.11.2005  
 
 ANNEXURE TO THE AUDITOR'S REPORT
 
 (i) a) The company is maintaining proper records to show full
 particulars including the quantitative details of Fixed Assets.
 
 b) As explained to us that the management has physically verified the
 major fixed assets of the company in a phased manner, designed to cover
 all assets over a period of three years, which in our opinion is
 reasonable having regard to the size of the company and nature of the
 assets. No material discrepancies were noticed on such verification.
 
 c) As per the information and explanations given to us no substantial
 part of the fixed assets have been disposed off during the year, which
 affect the ability of the company to continue as a going concern,
 
 (ii) a) The stock of Finished Goods, Stores, Spare Parts and Raw
 Material lying in the factory have been Physically verified by the
 management during/at the year-end. In our opinion and according to
 information and explanations given to us the frequency of physical
 verification is reasonable,
 
 b) In our opinion and according to the information and explanations
 given to us, the procedures of the physical verification of stock
 followed by the management are reasonable and adequate in relation to
 the size of the company and the nature of its business.
 
 c) In our opinion and according to the information and explanations
 given to us the company is maintaining proper records of its
 inventories and the discrepancies noticed on such physical verification
 between the physical and book stock were not material and have been
 adequately dealt with in the books of accounts.
 
 (iii) a) The company has taken unsecured loan of Rs 2,00,00,000/- from
 Punjab Chemicals & Crop Protection Ltd, a Company under the same
 management and covered in the register maintained under section 301 of
 the Companies Act 1956.
 
 b) in our opinion and according to the information and explanations
 given to us the rate of interest and other terms and conditions of the
 unsecured loan taken by the company are not prime facie prejudicial to
 the interests of the company.
 
 c) As per the information and explanations given to us, there is no
 overdue loan amount more than Rs One lakh on the date of the Balance
 Sheet.
 
 (iv) In our opinion, and according to the information and explanations
 given to us, there are adequate internal control procedures
 commensurate with the size of the company and the nature of its
 business with regard to the purchases of Inventories, Fixed Assets and
 for the Sale of goods.
 
 (v) a) To the best of our knowledge and belief and according to the
 information and explanations given to us, transactions that needed to
 be entered in the register maintained in pursuance of section 301 of
 the Companies Act,1956 have been so entered.
 
 b) According to the information and explanations given to us, where
 each of such transaction is in excess of Rs five lakhs in respect of
 any party. The transactions have been made at prices which are
 prima-facie reasonable having regard to the prevailing market prices at
 the relevant time, except for sale of services of specific nature, no
 comparison of prices could be made as the company informed us that
 there are no comparable market prices/alternative source of supply.
 
 (vi) The company has not accepted any deposits within the meaning of
 section, 58A of the Companies Act 1956 read together with the Companies
 (Acceptance of Deposits) Rules, 1975.
 
 (vii) In our opinion, the Internal Audit functions carried out during
 the year by a firm of Chartered Accountants appointed by the management
 have been commensurate with the size and nature of its business.
 
 (viii) We have broadly reviewed the books of accounts as required to be
 maintained by the company under section 209(1)(d) of the Companies Act
 1956 and/or of the opinion that prima-facie the prescribed accounts and
 the records have been made and maintained. However, we are not required
 to and have not carried out detailed examination of such accounts and
 records with a view to determining whether they are accurate or
 complete.
 
 (ix) a) The company has been regular in depositing undisputed statutory
 dues, including Provident Fund, Investor Education and Protection Fund,
 Employees State Insurance, Income Tax;Sales Tax, Wealth Tax, Custom
 Duty, Excise Duty and Cess with the appropriate authorities during the
 year. As explained to us there were no arrears of the statutory dues
 for the period more than six months from the date they became payable
 at the end of the Financial year, b) Disputed Excise duty aggregating
 to Rs 53,74,944A have not been deposited since the matters are pending
 with Supreme Court and Excise Appellate Authorities. As explained to us
 there were no disputed amounts in respect of Sales Tax, Income Tax and
 Custom Duty and Wealth Tax during the year.
 
 (x) The company had incurred operating losses accumulated to Rs.
 35,12,32,384 as on 31.3.2004. In line with the capital reduction scheme
 approved by Hon'ble High Court of Punjab and Haryana at Chandigarh
 these losses has been adjusted against the Equity Share, capital and
 Share Premium Account. During the year the company has incurred loss of
 Rs.1,77,42,016, to that extend the net worth of the company is reduced.
 
 (xi) In our opinion and according to the information and explanations
 given to us the company has not defaulted in repayment of dues to the
 banks. The company has not obtained any borrowings from any financial
 Institution or by way of Debentures.
 
 (xii) The company has not granted loans and advances on the basis of
 the security by way of pledge of Share, Debentures and other
 Securities,
 
 (xv) According to the information and explanation given to us the
 company has not given any guarantee for loans taken from bank and
 financial institutions by any other company.
 
 (xvi) The company has taken term loan from UTI Bank which is applied
 for the purpose for which the loan was obtained,
 
 (xviii) According to the Cash Flow Statement and other records examined
 by us and the information and explanations given to us, on an overall
 basis, funds raised on short term basis have, prima-facie, not been
 used during the year for long term investment and vice-versa, other
 than temporary deployment pending application.
 
 (xxi) To the best of our knowledge and belief and according to the
 information and explanation given to us,no fraud on or by the company
 was noticed or reported during the year.
 
 (xxii) In our opinion and according to the information and explanation
 given to us, the nature of the company's business/activities during the
 year are such that clauses xiii, xiv, xvii, xix, xx are not applicable
 to the company.
 
 For S. TANDON & ASSOCIATES
 Chartered Accountants
 
 Place : Chandigarh               (Kamal Kant Gambhir)
 Dated : 26.11.2005               PARTNER
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `3127.36 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `3497.5 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `5503.79 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `2200.55 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `6881.62 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `726.32 Cr की खरीदारी
  • CITI ON INDUSIND BANK : Buy रेटिंग, लक्ष्य `1900/Sh
  • MACQUARIE ON INDUSIND BANK : Buy रेटिंग, लक्ष्य `1558/Sh
  • MACQUARIE ON CONCOR : Outperform रेटिंग, लक्ष्य `625/Sh
  • GOLDMAN SACHS ON ICICI PRU : Buy रेटिंग कायम, लक्ष्य बढ़ाकर `530/Sh

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