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कंधारी रबर्स

बीएसई: 530603  |  NSE: N.A  |  ISIN:  |  Miscellaneous

खोजें कंधारी रबर्स कनेक्शन Mar 12
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '13
To the Members of KANDHARI RUBBERS LIMITED, UDAIPUR
 
 1.  We have audited the attached Balance Sheet of KANDHARI RUBBERS
 LIMITED as at 31st March, 2013 and also the Profit & Loss Account and
 cash flow statement for the period ended on that date annexed thereto.
 These financial statements are the responsibility of the management of
 the Company. 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 mis-statement. An audit
 includes examining on a test basis, evidence supporting the amounts and
 disclosures 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
 statements presentation. We believe that our audit provides a
 reasonable basis for our opinion.
 
 3.  As required by the companies Act (auditor''s report) Order, 2003
 issued by the Central Government of India in term of Sub-Section (4A)
 of Section 227 of the Companies Act, 1956 and on the basis of such
 checks of Books and records of the Company as we considered appropriate
 and according to the information and explanation given to us, we
 enclose in the Annexure hereto a statement on the matters specified in
 paragraphs 4 and 5 of the said order.
 
 4.  Further to our comments in the Annexure referred to 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 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
 such books..
 
 c.  The Balance Sheet and profit and Loss Account and cash flow
 statement dealt with by this Report comply with the mandatory
 accounting standards referred to in Section 211 (3C) of the Companies
 Act 1956.
 
 d.  The Balance Sheet and Profit & Loss account referred to in this
 report are in agreement with the books of account.
 
 e.  Based on the written representations received from the Directors of
 the Company as on March 31st, 2013 and taken on record by the Board of
 Directors, we report that none of the directors is disqualified as on
 31st March, 2012 from being appointed as a director in terms of clause
 (g) of sub-section (1) of Section 274 of the Companies Act, 1956.
 
 5.  Note No. 26 regarding preparation of accounts on going concern
 basis
 
 6 Attention is invited to:
 
 a Non - provision for margin money in the form of FDRs on account of
 time barred guarantees given by bank and interest thereupon as referred
 in Note No. 1 (III) (amount unascertainable).  -
 
 b Non -provision for depreciation aggregating toRs.6461610.00 as
 referred in Note No. 13.
 
 c Non - provision for interest aggregating to Rs. 6146390.00 as
 referred in Note No. 15.
 
 d Non - provision (amount unascertainable) for interest on bank
 borrowing as referred in Note No 16.
 
 e Non- provision (amount unascertainable) for interest on loans and
 advances as referred in Note No. 18.
 
 f.  No accounting entries passed on by the company for sales of
 Immovable and movable assets of the company by Secured creditors of the
 company on 02-01-2008 and 31-01-2008 for Rs 5 Crore .
 
 g.  Effect of sales of assets by secured creditors not given under
 heading secured loans shown in balance sheet.
 
 h.  No TPS Deducted on the payment liable for make TPS ''
 
 We further report that, without considering items mentioned at 6(a),
 6(d ) & 6(e) above, the effect of which could not be determined, had
 the observations made by us in items at 6 (b) & (c) above been
 considered, the loss for the period would have been Rs. 122.05 Lacs (
 as against the reported figure of profit Rs.  04.03 Lacs ) and
 Liabilities and provisions would have been Rs. 155.51 Lacs ( as against
 the reported figure of Rs 29.43 Lacs ). Had the un-provided
 depreciation for the years 1998-99 to 2011-13 and interest to Financial
 Institutions for the year 2001-02 to 2012-13 also been considered the
 accumulated loss up to 31.03.13 would have been Rs. 2283.84 Lacs.
 
 7.  Subject to the foregoing, in our opinion and to the best of our
 information and according to the explanations given to us, the said
 accounts subject to our observations read together with other 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 Balance Sheet, of the state of affairs of the
 Company as at 31st March, 2013
 
 ii.  In the case of the Profit and Loss Account, of the loss for the
 year ended on that date.
 
 ANNEXURE TO THE AUDITORS'' REPORT
 
 (Referred to in paragraph (3) of our Report of even date) ''
 
 1.  In respect of its fixed assets:-
 
 (a) The Company has maintained records in loose leaf showing full
 particulars including quantitative details and situation of its fixed
 assets. There is no fixed assets in existence as company Immovable and
 movable assets possessed and sold out by the FI''s and as reported by
 management the illegal possession and sales of Immovable and movable
 assets of the company is challenged before honorable RHC Jodhpur
 through writ .by the company..
 
 2.  In respect of its inventories:- -
 
 (a) There is no Inventory in existence as company Immovable and movable
 assets possessed and sold out by the FI''s and as reported by
 management the illegal possession and sales of Immovable and movable
 assets of the company is challenged before Honorable RHC Jodhpur
 through writ .by the company
 
 3.  In respect of loans Secured or Unsecured, granted or taken by the
 Company to/from Companies, firms or other parties covered in the
 register maintained under section 301 of the Companies Act, 1956:-
 
 (a) According to the information and explanation given to us, the
 company has granted unsecured interest free loans to 5 parties
 aggregating to Rs 69.70 lacs and the Company has not taken any loans,
 secured or unsecured from Companies, firm or other parties covered in
 the register maintained under section 301of the Companies Act, 1956.
 
 (b) In our opinion and according to the information and explanations
 given to us, the loans to the parties have been given without interest
 and any terms and conditions for repayment.
 
 (c) No reasonable steps have been taken by the Company for recovery of
 the principal.
 
 4.  In our opinion and according to the information and explanations
 given to us, the internal control procedures needs to be strengthened
 to bring it in line with the size of the Company and the nature of its
 business, for the purchase of inventory, fixed assets and for sale of
 goods. During the course of our audit we have not noticed any major
 weakness in internal control procedures
 
 5.  In respect of transactions covered under section 301 of the
 Companies Act, 1956:-
 
 In our opinion and according to the information and explanations given
 to us, there were no transactions during the year that need to be
 entered in to the register in pursuance of section 301 of the Companies
 Act, 1956.  
 
 6.  The Company has not accepted any deposits from the public during
 the accounting year within the meaning of Section 58A and 58AA of the
 Companies Act, 1956 and rules framed there under.
 
 7.  In our opinion, the internal audit system in the Company needs to
 be strengthened to bring it in line with the size of the Company and
 the nature of its business.
 
 8.  As informed to us, the Central Government has not prescribed for
 the maintenance of cost records under section 209 (1) (d) of the
 Companies Act, 1956 for any of the products of the Company.  ''
 
 9.  In respect of statutory dues:-
 
 (a) According to the records of the Company, the Company is generally
 regular in depositing undisputed statutory dues including Excise Duty,
 Sales tax and other material statutory dues with appropriate
 authorities and there are no undisputed statutory dues payable for a
 period of more than six months from the date they became payable as at
 31st March, 2012 except dues of Provident Fund Employees State
 Insurance as stated below:
 
 Name of statute            Nature of the dues            Amount
 
 Provident Fund Act         Provident Fund                124284.79
 
 Employees State 
 Insurance Act              Employees State Insurance       4385.79
 
 (b) According to the records of the Company and the information and
 explanations given to us, there are no dues in respect of Custom duty,
 Wealth tax, Excise Duty and Cess matters on account of any dispute. The
 dues in respect of Sales tax which have not been deposited with the
 appropriate authorities on account of dispute are as under:
 
 Name of statute  Nature of dues   Amount      Period     Forum
 where pending
 
 Sales Tax Act    Sales Tax        2637439.00  2000-2001  CTO Special 
                                                          circle
 
 10.  The accumulated losses of the Company as at 31 st March, 2012
 exceed Hundred percent of its net worth and the Company has incurred
 cash losses during the current year and immediately preceding financial
 year.
 
 11.  According to the information and explanations given to us, the
 Company has defaulted in repayment of dues to financial institutions
 and bank as follows:
 
 Name of        Nature          Amount           Period
 Institution                   (Lacs)
 
 IFC1           Term Loan       244.29           2001-12
 
 IDBI           Term Loan       259.56           2001-12
 
 ICICI          Term Loan       110.79           2001-12 
 
 SBI            Working Capital 246.08           2001-12
 
 IFCI           Interest        269.50           2001-12
 
 IDBI           Interest        286.29           2001-12
 
 ICICI          Interest        122.23           2001-12
 
 SBI            Interest        Unascertained    2001-12
 
 12.  The Company has not granted any loans & advances on the basis of
 security by way of pledge of shares, debentures and other securities,
 therefore clause 4(xii) is not applicable.
 
 13.  The provisions of any special statue applicable to Chit
 Fund/Nidhi/Mutual benefit funds/ Societies are not applicable to the
 Company, therefore clause 4(xiii) is not applicable.
 
 14.  In our opinion, The Company is not dealing or trading in shares,
 securities, debentures and other investments, therefore clause 4(xiv)
 is not applicable.
 
 15.  In our opinion and according to the information and explanations
 given to us, the Company has not given any guarantees for loans taken
 by others from banks or financial institution during the year,
 therefore clause 4(xv) is not applicable.
 
 16.  In our opinion and according to the information and explanations
 given to us, on an overall basis, the term loan taken from the
 financial institutions have been applied for the purpose for which they
 were obtained,
 
 17.  In our opinion and according to the information and explanations
 given to us, there are no funds raised on short term basis which have
 been used for long term investment.
 
 18.  The Company has not made any preferential allotment of shares to
 parties and Companies covered in the registered maintained under
 section 301 of the Companies Act, 1956.  Accordingly clause 4(xviii) of
 the order is not applicable to the Company.
 
 19.  The Company has no debentures, therefore the clause 4(xix) of the
 order is not applicable to the Company.
 
 20.  The Company has not raised money by public issues during the year,
 therefore the clause 4(xx) of the order is not applicable to the
 Company.
 
 21.  In our opinion and according to the information and explanations
 given to us, no fraud on or by the Company has been noticed or reported
 during the year, that caused the financial statements to be to be
 materially misstated.
 
                                        For M/S C.K Jagetia & Co.,
 
                                           Chartered Accountants
 
                                                              Sd
 
                                                   C. K. JAGETIA
 
 Udaipur                                              Proprietor
 
 25,August. 2013.                                     M.N.074511
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MS ON TITAN : Underweight रेटिंग, लक्ष्य `770/Sh
  • CLSA ON TITAN : Sell रेटिंग, लक्ष्य `855/Sh
  • MS ON SOBHA : Overweight रेटिंग, लक्ष्य `361/Sh

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