मैट्रिक्स
 
 
moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Miscellaneous > लेखा परीक्षकों की रिपोर्ट से कैबसंस इंडस्ट्रीज - बीएसई: 524675, NSE: N.A

कैबसंस इंडस्ट्रीज

बीएसई: 524675  |  NSE: N.A  |  ISIN: INE645C01010  |  Miscellaneous

खोजें कैबसंस इंडस्ट्रीज कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying Financial Statements of KABSONS
 INDUSTRIES LIMITED, HYDERABAD (A.P)(The Company) which comprise the
 Balance Sheet as at 31st March, 2014 and the Statement of Profit and
 Loss and cash flow statement for the year then ended, and 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 in the 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
 tothe 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 the
 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 judgement, including the assessment of
 the risks of material misstatements 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 the 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 qualified audit opinion.
 
 Basis for qualified opinion:
 
 The Company has not adopted and complied with the requirements of AS-15
 Employee Benefits'' in respect of the Gratuity liability which
 constitute a departure from the Accounting standards referred in
 section 211(3C) of the Act. In view of this the liability of the
 company in this regard could not be ascertained Consequently, we are
 unable to comment about the impact of the same on the profit for the
 year, income tax and shareholder''s finds.
 
 Qualified Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us, except for the effects of the matter
 described in the Basis for Qualified Opinion Paragraph, 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 profit for
 the year ended on the 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
 
 (a) We draw attention to Note 24.1 in the financialstatements which
 states that the Company''s currentliabilities exceeded its current
 assets by Rs. 3.36 crones. Further,as indicated by the Company''s
 Balance Sheet as at March 31, 2014, the net worth of the Company has
 eroded completely. These conditionsalong with other matters as set
 forth in Note 24.1, indicate the existence of a material
 uncertaintythat may cast significant doubt about the Company''s ability
 to continue as agoing concern
 
 (b) We draw attention to Note 24.3in the financialstatements which
 states that the Company has not provided for the interest expense
 amounting to Rs. 6,34, 899for the year and Rs. 78,05,598 for earlier
 years against the Trade Deposits received from the Dealers/
 Distributors.Consequently, the same has resulted in overstatement of
 profit for the year by Rs. 6,34,889, understatement of the balance in
 the statement of profit and loss by Rs. Rs. 84,40,497 and
 understatement of Current Liabilities by Rs. 84,40,497.
 
 Other matters
 
 The Company could not get confirmation of balances in respect of
 
 (a) Trade Receivables amounting to Rs.42,05,216 and (b) Trade Payables
 amounting to Rs. 17,43,136. Consequently, we are unable to determine,
 if any adjustments are required to the amounts reflecting in the
 Balance Sheet as at March 31, 2014 and the impact of the same on the
 profit for the year, income tax and shareholder''s funds. Our opinion is
 not qualified in this regard.
 
 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 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, the Statement of Profit and Loss and Cash Flow
 statement dealt with by this report are in agreement with the books of
 account;
 
 (d) except for the matter described under the basis for qualified
 opinion paragraph in our opinion, the Balance sheet, Statement of
 Profit and Loss, and Cash flow Statement comply with the Accounting
 Standards referred to in sub-section (3C) of section 211 of the Act;
 
 (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 Act;
 
 (f) Since the Central Government has not issued any notification as to
 the rate at which cess is to be paid under section 441A of the
 Companies Act 1956 nor has it issued any rules under the said section
 prescribing the manner in which such cess is to be paid, no cess is due
 and payable by the company.
 
 ANNEXURE REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE
 Statement on the Companies (Auditor''s Report) Order 2003
 Re: KABSONS INDUSTRIES LIMITED
 
 i) (a) The Company has maintained proper records showing
 fullparticulars including quantitative details and situationof fixed
 assets.
 
 (b) All the assets have not been physically verified by the management
 during the year but there is a regular program of verification which,
 in our opinion, is reasonable having regard to the size of the company
 and the nature of its assets.No material discrepancies were noticed on
 such verification.
 
 (c) During the year, the company has disposed off fixed assets which
 are not substantial part of the fixed assets.
 
 ii) (a) The inventory has been physically verified during theyear by
 themanagement. In our opinion, thefrequency of verification is
 reasonable.
 
 (b) 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.
 
 (c) The company is maintaining proper records of inventory. The
 discrepancies noticed on verification between the physical stocks and
 the book records have been properly dealt with in thebooks of account.
 
 iii)(a) The company has not granted any loans, secured orunsecured to
 companies, firms or other parties covered inthe register maintained
 uls.301 of the Act.
 
 (b) The company had taken interest free secured loan from a Company ,
 interest-free unsecured loan from another Company and from a party
 covered in the register maintained under section 301 of the Companies
 Act, 1956. The maximum amount involved during the year was Rs. 31 Lakhs
 and the year-end balance of loans taken from such parties was Rs. 31
 Lakhs.
 
 (c) In our opinion, the terms and conditions on which loans have been
 taken from companies, and parties listed in the register maintained
 under section 301 of the Companies Act, 1956 are not prima facie,
 prejudicial to the interest of the company.
 
 (d) According to explanations given to us, the lenders have not
 specified repayment terms. In view of this we cannot comment upon
 whether the payment of principal is regular.
 
 iv) In our opinion and according to the information and explanations
 given to us, there are adequate internal control systemscommensurate
 with the size of the Companyand the nature of its business with regard
 to purchases of inventory,fixed assets and with regard to the sale of
 goods and gas. During the course of our audit, we have not observed any
 continuing failure to correct major weaknesses in internal control
 systems.
 
 v) (a) According to the information and explanations given to us, 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 under that section; and
 
 (b) In our opinion and according to the information and explanations
 given to us, the transactions made in pursuance of contracts or
 arrangements entered in the register maintained under section 301 of
 the Companies Act, 1956 have been made at prices which are reasonable
 having regard to prevailing market prices at the relevant time.
 
 vi) The company has not accepted the deposits from the public within
 the meaning of Section 58Aand 58AA of the Companies Act, 1956 and the
 Rules framed thereunder.
 
 vii) The company has no internal audit system.
 
 viii) The Central Government has not prescribed maintenance of cost
 records under clause (d) of subsection (1) of Section 209 (1)(d) of the
 Companies Act, 1956 for the products/items dealt with by the company.
 
 ix) (a) The company is not regular in depositing with appropriate
 authorities undisputed statutory dues including investor education
 protection fund, employee''s state insurance, sales tax. The extent of
 the arrears of outstanding statutory dues as at the last day of the
 financial year for a period of more than six months from the date they
 became payable are as given below:
 
 S. Name of the   Nature of the      Amount     Period to    Due date
 no Statue        dues                (Rs.)     which the
                                                amount 
                                                relates 
 
 1  Companies     Investor            22,550    1994-95      19.10.2001
    Act, 1956     Education                 
                  and Protection 
                  Fund
 
 2  Maharashtra   Sales Tax            5,817    2005-06      15.05.2005
    Sales Tax Act
 
 3  Maharashtra   Sales Tax            9,538    2004-05      15.04.2005
    Sales Tax Act
 
 
 4  Maharashtra   Sales Tax              800    2003-04      15.01.2004
    Sales Tax Act
 
 5  BST Act       Sales Tax and       73,735    1997-98      15.08.2004
                  Penalty
 
 6  BST Act       Sales Tax and     1,34,780    1998-99      15.08.2004
                  Penalty
 
 7  CST Act       Sales Tax and     1,31,000    1997-98      15.08.2004
                  Penalty
 
 8  CST Act       Sales Tax and     5,17,000    1998-99      15.08.2004
                  Penalty
 
 (b) According to the information and explanations given to us, there
 are no dues of sales tax, income tax, customs duty, wealth tax, excise
 duty, service tax and cess which have not been deposited on account of
 any dispute.
 
 x) The accumulated losses of the company are more than fifty percent of
 its net worth. The company has not incurred cash losses during the
 financial year covered by our audit and as well as in the immediately
 preceding financial year.
 
 xi) During the financial year covered by our audit the Company hadnot
 borrowed from financial institutions. Hence, clause (xi) of the above
 referred Order is not applicable.
 
 xii) The company has not granted any loans and advances on the basis of
 security by way of pledge of shares, debentures and other securities.
 
 xiii) The company is neither a chit fund nor a nidhi mutual
 benefitfund/society. Therefore, the provisions of clause 4(xiii) of the
 above referred Order are not applicable to the company.
 
 xiv) The company is not dealing in or trading in shares, securities,
 debentures and other investments. Accordingly, the provisions of clause
 4(xiv) of the above referred Order are not applicable to the company.
 
 xv) The Company has not given any guarantee for loans taken by others
 from banks or financial institutions.
 
 xvi) During the year the company has not availed any term loans from
 banks or financial institutions. Accordingly, the provisions of clause
 4(xvi) of the above referred Order are not applicable to the company.
 
 xvii) According to the information and explanations given to us and on
 overall examination of the balance sheet of the company, we report that
 the no funds raised on short-term basis have been used for longterm
 investment.
 
 xviii) The company has not made preferential allotment of shares to
 parties and companies covered inthe register maintained under section
 301 of the Act during the year.
 
 xix) The company has not issued any debentures. Accordingly, the
 provisions of clause 4(xix) of the above referred Order are not
 applicable to the company.
 
 xx) During the year the company has not raised money by public issue.
 Accordingly, the provisions of clause 4(xx) of the above referred Order
 are not applicable to the company.
 
 xxi) According to the information and explanations given to us, no
 fraud on or by the company has been noticed or reported during the
 course of our audit.
 
                                                    for BRAHMAYYA & CO., 
                                                  Chartered Accountants.
                                                  Firm''s Regn.No.0005135
 
                                                                    Sd/-
                                                       (D.SEETHARAMAIAH) 
                                                                 Partner
                                                    Membership No.002907
 
 Place: Hyderabad
 
 Date : 26-05-2014
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `653 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `410 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `665 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1002 की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `273 Cr की बिकवाली
  • IN F&O BAN : F&O बैन में Yes Bank शामिल
  • TYRE STOCKS IN FOCUS : रेडियल टायर पर एंटी डंपिंग ड्यूटी संभव
  • MMTC / NMDC / BHEL : NINL में 100% हिस्सेदारी बेचेगी सरकार
  • ALLCARGO : `75/Sh के भाव पर Gati को खरीदा
  • COAL MINISTRY ON JSPL : Gare Palma ब्लॉक की बोली पर विचार जारी

अभी देखें

कंज्यूमर अड्डाः थप्पड़ से डर लगता हैं

OUR WINNING PICKS

DID YOU INVEST?

INTRADAY PICKS!

(August 06, 2018)

AT (Rs)



GAIN (Rs)

ALL TIME WINNERS

RECO PRICE

PEAK PRICE

OUR PACKAGES

Super Combo

Powerful mix of both trader and investor packs with timely expert advice.

Technical

Designed especially for traders looking to tap the profit opportunities of volatile markets.

Fundamental

For all investors looking to unearth stocks that are poised to move.