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गुजरात टूलरुम

बीएसई: 513337  |  NSE: N.A  |  ISIN: INE145J01024  |  Engineering

खोजें गुजरात टूलरुम कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of GUJARAT
 TOOLROOM 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
 accounting principles generally accepted in India, including the
 Accounting Standards notified under the Companies Act, 1956 read with
 General Circular 15/2013 dated 13 September, 2013, issued by the
 Ministry of Corporate Affairs, in respect of Section 133 of the
 Companies Act, 2013. This responsibility includes the design,
 implementation and maintenance of internal control relevant to the
 preparation and presentation of the financial statements that give a
 true and fair view and are free from material misstatement, whether due
 to fraud or error.
 
 Auditor''s Responsibility
 
 Our responsibility is to express an opinion on these financial
 statements based on our audit. We conducted our audit in accordance
 with the Standards on Auditing issued by the Institute of Chartered
 Accountants of India. Those Standards require that we comply with
 ethical requirements and plan and perform the audit to obtain
 reasonable assurance about whether the financial statements are free
 from material misstatement.
 
 An audit involves performing procedures to obtain audit evidence about
 the amounts and disclosures in the financial statements. The procedures
 selected depend on the auditor''s judgment, including the assessment of
 the risks ofmaterial 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, 2014;
 
 b) in the case of the Statement of Profit and Loss, of the loss for the
 year ended on that date; and
 
 c) in the case of the Cash Flow Statement, of the cash flows for the
 year ended on that date.
 
 Emphasis of Matter
 
 Without qualifying our opinion, we draw attention to Note No. 21(b) of
 the Financial Statements wherein the company has disposed of all its
 Assets and Inventory. However, the accompanying financial statements
 have been prepared under the going concern assumption considering the
 mitigating factors as stated therein.
 
 Report on Other Legal and 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 mattersspecified 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 notified under
 the Companies Act, 1956 read with General Circular 15/2013 dated 13
 September, 2013, issued by the Ministry of Corporate Affairs, in
 respect of Section 133 of the Companies Act, 2013;
 
 e) on the basis of written representations received from the directors
 as on March 31, 2014, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31, 2014, from being
 appointedas a director in terms of clause (g) of sub-section (1) of
 section 274 of the Companies Act, 1956.
 
 ANNEXURE TO THE INDEPENDENT AUDITOR''S REPORT RE: GUJARAT TOOLROOM
 LIMITED (Referred to in Paragraph 1 of our Report of even date.)
 
 i) (a) The Company has maintained memorandum of records showing details
 of fixed assets. However, comprehensive fixed assets register is being 
 compiled.
 
 (b) As explained to us, fixed assets, according to the practice of the
 Company, are physically verified by the management at reasonable
 intervals, in a phased verification-programme, which, in our opinion,
 is reasonable, looking to the size of the Company and the nature of its
 business.
 
 (c) In our opinion, the Company has, as set out in Note 21(b) disposed
 of all its fixed assets during the year.  However considering the
 mitigating factors as set out in Note 21(b) the disposal of all the
 fixed assets would not affect the going concern status of the Company.
 
 ii) The Company does not carry any Inventoryas at the year ended on
 31st March, 2014. Accordingly the provisions of Clauses 4 (ii) (a) to
 (c) of the Order are not applicable.
 
 iii) (a) According to the information and explanation given to us and
 the records produced to us for our verification, the company has not 
 granted any loans to companies, firms or other parties covered in the 
 register maintained under section 301 of the Companies Act, 1956. 
 Accordingly the provisions of Clauses 4 (iii) (a) to (iii) (d) of the 
 Order are not applicable.
 
 (e) According to the information and explanation given to us and the
 records produced to us for our verification, the company has not taken
 unsecured loan from companies, firms or other parties covered in the
 register maintained under section 301 of the Companies Act, 1956.
 Accordingly the provisions of Clauses 4 (iii) (e) to (iii) (g) of the
 Order are not applicable.
 
 iv) There has been neither any purchase of inventory nor any sale of
 goods,except for disposal of inventory as scrap, by the company.
 However, 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. During the course
 of our audit, no major weakness has been noticed in the internal
 controls.
 
 v) According to the information and explanation provided by the
 management, there have been no contracts or arrangements during the
 year that need to be entered into the register maintained under section
 301 of the Companies Act, 1956. Accordingly the provisions of Clauses
 4(v) (a) and (b) of the Order are not applicable.
 
 vi) The Company has not accepted any deposits from the public and
 consequently, directives issued by RBI and the provisions of sections
 58A, 58AA of the Act and Companies (Acceptance of Deposits) Rules,
 1975. Accordingly, the provisions of Clause 4 (vi) of the Order are not
 applicable.
 
 vii) The Company has no formal internal audit department as such.
 However it''s control procedures ensure reasonable internal checking of
 its financial and other records.
 
 viii) The maintenance of cost records under Section 209(1) (d) of the
 Companies Act, 1956 is not applicable to the Company. Accordingly, the
 provisions of Clause 4 (viii) of the Order are not applicable.
 
 ix) (a) As explained to us and according to the records of the company,
 the company is generally regular in depositing undisputed applicable 
 statutory dues with the appropriate authorities. There are no 
 undisputed statutory dues as at 31st March 2014 outstanding for a 
 period of more than six months from due date they become payable.
 
 (b) According to the records of the Company and representations made by
 the Management, there are no statutory dues as mentioned in clause
 4(ix)(a) which have not been deposited on account of any dispute.
 
 x) Accumulated losses of the Company have exceeded fifty percent of its
 net worth at the end of the financial year and it has incurred cash
 loss in the current financial year and there was a cash loss in the
 financial year immediately preceding current financial year.
 
 xi) Based on the audit procedures and the information and explanations
 given to us, the company has not borrowed funds from any banks,
 financial institutions or by way of issue of debentures. Accordingly
 the provisions of Clauses 4 (xi) of the Order are not applicable.
 
 xii) According to the information and explanations given to us, the
 Company has not granted loans and advances on the basis of security by
 way of pledge of shares, debentures and other securities. Accordingly
 the provisions of clause 4(xii) of the Order are not applicable.
 
 xiii) In our opinion, the Company is not a chit fund or a Nidhi/mutual
 benefit fund/society. Accordingly, the provisions of clause 4(xiii) of
 the Order are not applicable.
 
 xiv) According to the information and explanations given to us, the
 company is not dealing or trading in shares, securities, debentures and
 other investments. Accordingly, the provisions of clause 4(xiv) of the
 Order are not applicable.
 
 xv) According to the information & explanations given to us, the
 company has not given any guarantee for any loans taken by associates
 and others from banks or any financial institution. Accordingly, the
 provisions of clause 4(xv) of the Order are not applicable.
 
 xvi) According to the information & explanations given to us, the
 Company has not taken any term loan during the year covered by our
 audit report. Accordingly the provisions of clause 4(xvi) of the Order
 are not applicable.
 
 xvii) 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 not, prima facie, been
 used during the year for long term investment.
 
 xviii) The company has not made preferential allotment of shares to
 companies covered in the register maintained under section 301 of the
 Companies Act, 1956. Accordingly the provisions of clause 4(xviii) of
 the Order are not applicable.
 
 xix) As the Company has not issued any debentures. Accordingly the
 provisions of clause 4(xix) of the Order are not applicable.
 
 xx) During the year, since the Company has not raised money by way of
 public issue. Accordingly, the provisions of clause 4(xx) of the Order
 are not applicable.
 
 xxi) During the course of our examination of the books and records of
 the company, carried out in accordance with the generally accepted
 auditing practice in India, and according to the information and
 explanation given to us, we have neither come across any instance of
 fraud on or by the company, noticed or reported during the year, nor
 have we been informed of any such case by the management.
 
 
                                             For, DHARMESH PARIKH & CO.
                                                 Chartered Accountants 
                                                 Firm Reg. No. 112054W
                                                           KANTI GOTHI
 Place : Ahmedabad                                             Partner
 Date : 28-May-2014                              Membership No. 127664
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `637 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `468 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2005 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `494 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `2119 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `596 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `12 Cr की बिकवाली
  • CITI ON DLF : Sell रेटिंग, लक्ष्य `144/Sh
  • MS ON DLF : Overweight रेटिंग, लक्ष्य `211/Sh
  • CLSA ON DLF : Buy रेटिंग बरकरार, लक्ष्य `190/Sh

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