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ईकॉट हाईटेक टूलरूम

बीएसई: 522245  |  NSE: N.A  |  ISIN: INE079L01013  |  Engineering

खोजें ईकॉट हाईटेक टूलरूम कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of IYKOT HITECH
 TOOLROOM LIMITED (the Company) which comprises of Balance sheet as at
 31st March 2014, the Statement of Profit and Loss and the Cash flow
 Statement for the year then ended and a summary of the significant
 accounting policies and other explanatory notes.
 
 Management''s Responsibility for the financial statements
 
 The Company''s 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 subsection (3C)
 of section 211 of the Companies Act, 1956 (the Act) read with the
 General Circular 15/2013dated 13th September 2013 of the Ministry of
 Corporate affairs in respect of section 133 of the Companies Act 2013
 and General Circular 08/2014 dated 4th April 2014 with respect to the
 financial statements 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
 
 Auditors'' 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 the disclosures in the financial statements. The
 procedures selected depend on the auditors'' judgement 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 company''s internal control. An audit also includes
 evaluating the appropriateness of the 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 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
 
 a) in the Case of the Balance Sheet of the State of affairs as at 31st
 March 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
 
 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 in terms of Section 227 (4A)
 of the Companies Act,2013, we give in the Annexure a statement on the
 matters specified in paragraphs 4 and 5 of 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 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 Balance Sheet, the Statement of the Profit and
 Loss and the Cash Flow Statement dealt with by this report comply with
 the Accounting Standards referred to in subsection (3C) of section 211
 of the Companies Act, 1956 read with General Circular15/2013 dated 13th
 September 2013 of the Ministry of Corporate affairs in respect of
 section 133 of the Companies Act 2013 except non provision of gratuity
 and leave encashment to employees.
 
 e) On the basis of written representations received from the Directors
 as at 31st March 2014 taken on record by the Board of Directors , none
 of the Directors is disqualified as at 31st March 2014 from being
 appointed as a Director in terms of Section 274 (1) (g) of the Act on
 the said Date.
 
 Annexure to the Independent Auditor''s Report Referred to in paragraph I
 under other Legal and Regulatory requirements of our report of even
 dated
 
 i) In respect of its fixed assets,
 
 a) The company has maintained proper records showing full particulars
 including quantitative details and situation of fixed assets
 
 b) The fixed assets were physically verified by the management once in
 a year, which in our opinion, provides for physical verification of all
 the fixed assets.  According to the information and explanation given
 to us, no materials discrepancies were noticed on such verification.
 
 c) The fixed assets disposed during the year, in our opinion, do not
 constitute a substantial part of the fixed assets of the company and
 such disposal has, in our opinion not affected the going concern status
 of the company.
 
 ii) In respect of inventory,
 
 a) As explained to us, the inventories of finished goods and semi
 finished goods and raw materials and factory and depot were physically
 verified during the year by the management. In our opinion, having
 regard to the nature and location of the stocks, the frequency of
 verification is reasonable.
 
 b) In our opinion and according to the information and explanation
 given to us, the procedures of physical verification of inventories
 followed by the management were reasonable and adequate in relation to
 the size of the company and the nature of the business.
 
 c) In our opinion and according to the information and explanations
 given to us, the company has maintained proper records of inventories
 and no material discrepancies were noticed on physical verification.
 
 iii) The Company has not granted any loan, secured or unsecured, to
 companies / firms or other parties covered in the register maintained
 under section 301 of the Companies Act, 1956.
 
 iv) In respect of loans secured or unsecured taken by the companies/
 firms /parties covered in the register maintained under section 301 of
 the Companies Act, 1956, according to the information and explanations
 given to us,
 
 a) No. of Parties 2
 
 Amount outstanding as
 
 at 31.03.2014  Rs 4485000/-
 
 Maximum outstanding
 
 involved during the year Rs 4485874/-
 
 b) the rate of interest and other terms and conditions of loans, in our
 opinion, prima facie not prejudicial to the interests of the company.
 
 c) The payments of principal and interests amount have been regular and
 as per stipulations.
 
 d) There are no overdue amounts outstanding at the Balance Sheet date.
 
 v) 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 sale of goods and
 services. During the course of our audit, we have not observed any
 major weakness in such internal control system.
 
 vi) In respect of the contracts of arrangements referred to in Section
 301 of the Companies Act, 1956:
 
 a.  In our opinion and according to the information and explanations
 given to us, there are transactions made in pursuance of contracts or
 arrangements that need to be entered in the register maintained under
 Section 301 of the Companies Act, 1956 have been so entered.
 
 b.  In our opinion and according to the information and explanations
 given to us, there are transactions made in pursuance of
 contracts/arrangements entered in the Register maintained under section
 301 of the Companies Act, 1956 and exceeding the value of Rs.5,00,000
 in respect of each party during the year is NIL.
 
 vii) According to the information and explanations given to us, the
 Company has not accepted any deposit from the public. Therefore, the
 provisions of Clause (vi) of paragraph 4 of the Order are not
 applicable to the Company.
 
 viii) In our opinion, the Company has no internal audit system though
 the paid up capital and free reserves of the company has exceeded Rs 50
 lakh and the average annual turnover has exceeded Rs 5 crores for a
 period of three consecutive financial years immediately preceding the
 financial year concerned under paragraph 4(vii) of the order.
 commensurate with the size and nature of its business.
 
 ix) We have been informed by the company that the Central Government
 has not prescribed the maintenance of cost records under Section 209
 (1)(d) of the Companies Act, 1956 and the rules made there under.
 
 x) In respect of statutory dues:
 
 a.  According to the records of the Company, undisputed statutory dues
 including Provident Fund, Employees'' State Insurance, Income-Tax, Sales
 Tax, Service Tax, Customs Duty, Excise Duty, Cess, and other statutory
 dues have been generally regularly deposited with the appropriate
 authorities.
 
 b.  According to the information and explanations given to us, no
 undisputed amounts payable in respect o the aforesaid dues were
 outstanding as at March 31,2014 for a period of more than six months
 form the date of becoming payable is NIL.
 
 xi) The Company does have accumulated losses at the end of the
 financial year of Rs. 4327748.44/-. The Company has not incurred cash
 loss during the financial year covered by the audit and also has not
 incurred cash loss in the immediate preceding financial year.
 
 xii) Based on our audit procedures and according to the information and
 explanations given to us, we are of the opinion that the Company has
 not defaulted in repayment of dues to banks.
 
 xiii) In our opinion and according to the explanations given to us and
 based on the information available, no loans and advances have been
 granted by the Company on the basis of security by way of pledge of
 shares, debentures and other securities.
 
 xiv) In our opinion, the company is not a chit fund / nidhi / mutual
 benefit fund/society. Therefore, the provisions of clause (xiii) of
 paragraph 4 of the Order are not applicable to the Company.
 
 xv) The Company has not dealing or trading in shares, securities,
 debentures and other investments and hence paragraph 4(xiii) of the
 other is not applicable. Therefore, the provisions of clause (xiv) of
 paragraph 4 of the Order are not applicable to the Company.
 
 xvi) The Company has not given guarantees for loans taken by others
 from banks and financial institutions. Therefore, the provisions of
 clause (XV) of paragraph 4 of the Order are not applicable to the
 Company.
 
 xvii) The Company has raised new terms loan of Rs 699000/- during the
 year. The term loans outstanding at the beginning of the year and those
 raised during the year have been applied for the purposes for which
 they are raised.
 
 xviii) According to the information and explanations given to us and on
 an overall examination of the Balance Sheet of the Company, we are of
 the opinion that there are no funds raised on short term basis that
 have been used for long term investment.
 
 xix) The Company has not made any preferential allotment of shares to
 parties and companies covered in the register maintained under section
 301 of the Companies Act, 1956.
 
 xx) The Company has not raised any debentures.  Therefore, the
 provisions of clause (XiX) of paragraph 4 of the Order are not
 applicable to the Company.
 
 xxi) The Company has not raised any monies by way of public issues
 during the year and hence paragraph 4(XX) of the order is not
 applicable to this company.
 
 xxii) In our opinion and according to the information and explanations
 given to us, no material fraud on or by the Company has been noticed or
 reported during the year.
 
                                                      For Ramadoss & Co.
                                                   Chartered Accountants
                                                   Firm Regn No. 002879S
 
 Place : Chennai                                             K. Ramadoss
                                                                 Partner
 Date : 30.05.2014                                  Membership No.019176
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `781 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `904 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `788 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `736 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `490 की बिकवाली की
  • MARKET CUES : स्टॉक फ्यूचर्स में `393 Cr की खरीदारी
  • MARKET CUES : स्टॉक ऑप्शंस में `44.63 Cr की खरीदारी
  • IN F&O BAN : F&O बैन में Yes Bank शामिल
  • CLSA ON RELIANCE IND : BUY रेटिंग, लक्ष्य बढ़ाकर `2010/Sh
  • GOLDMAN SACHS ON RELIANCE IND : BUY रेटिंग बरकरार, लक्ष्य `1850/Sh

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