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किंग्स इंडिया केम कॉर्प

बीएसई: 524214  |  NSE: N.A  |  ISIN:  |  Chemicals

खोजें किंग्स इंडिया केम कॉर्प कनेक्शन Mar 12
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '13
Report on the Financial Statements:
 
 We have audited the attached Balance Sheet of M/s. KINGS INDIA
 CHEMICALS CORPORATION LTD, as at 31st March 2013 and the annexed Profit
 and Loss Account for yearended on that date, and a summary of
 significant accounting policies and other explanatory information.
 
 Management''s Responsibility for the Financial Statements:
 
 These financial Statements are the responsibility of the Company''s
 management.
 
 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 auditing standards generally accepted in India. Those standards
 require that we plan and perform the audit to obtain reasonable
 assurance about whetherthe 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 management, as well as evaluating the overall
 financial statement presentation. We believe thatouraudit provides a
 reasonable basisfor our opinion.
 
 Opinion:
 
 In our opinion and to the best of our information and according to the
 explanations given to us, the said Accounts give the information
 required by the Companies Act 1956, in conformity with the accounting
 principles generally accepted in India and on such basis give a true
 and fair view:
 
 (a) in the case of the Balance Sheet, of the state of affairs of the
 Company as at 31 st March, 2013;
 
 (b) in the case of the Profit and Loss account, of the Loss of the
 Company 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:
 
 As required by the Companies (Auditor''s Report) Order, 2003, as amended
 by the Companies (Auditor''s Report) (Amendment) Order,2004, issued by
 the Government of India, in terms of Section 227(4-A) of the Companies
 Act, 1956, we enclose in the annexure, a statement on the matters
 specified in paragraphs 4 and 5 of the said order.  Furtherto our
 comments in the annexure referred to above, we reportthat:
 
 (a) We have obtained all the information and explanations which to the
 best of our knowledge and belief were necessary for the purposes
 ofouraudit;
 
 (p) 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
 those books;
 
 (c) The Balance Sheet, the Profit and Loss account and the cash flow
 statement dealt with by this report are in agreement with the books of
 account and returns.
 
 (d) In our opinion, the aforesaid Balance Sheet and Profit and Loss
 account comply with the applicable accounting standards referred to
 inSec.211(3C)oftheAct.
 
 (e) On the basis of written representations received from the Directors
 of the Company and taken on record by the board of directors, none of
 the Directors is disqualified as on 31 st March 2013 from being
 appointed as a director in terms of Sec. 274(1 )(g) of the Companies
 Act, 1956.
 
 ANNEXURE TO THE AUDITOR''S REPORT
 
 Referred to in paragraph 3 of our Report of even date:
 
 1.  (a) The company is maintaining proper records showing full
 particulars, including quantitative details and situation of fixed
 assets;
 
 (b) The fixed assets have been physically verified by the management at
 reasonable intervals. No material discrepancies were noticed on such
 verification.
 
 (c) No substantial part of fixed assets has been disposed off during
 the period.
 
 2.  (a) Physically verification of inventory has been disposed off
 during the period.
 
 (b) The procedures of physical verification of inventory followed by
 the management 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 and no
 material discrepancies were noticed on physical verification.  ''
 
 3.  (a) The company has taken unsecured loans from a person (amount
 Outstanding
 
 Rs. 15.64 lakhs) covered in the register maintained under section 301
 of the Companies Act.  (b) The terms and conditions of loans taken by
 the company are prima facie not prejudicial to the interest of the
 company.
 
 4.  According to the information and explanation given to us there is
 adequate internal control procedure commensurate with the size of the
 company and the nature of its business, for the purchase of inventory,
 fixed assets and for the sale of goods.
 
 5.  As per the explanation given to us, transactions that need to be
 entered into a register in pursuance of section 301 of the companies
 Act have been so entered.
 
 6.  The company has not accepted deposits from the public, under
 Section 58Aof the Companies Act. 1956 and the rules made there under.
 
 7.  The company has an internal audit system commensurate with its size
 and nature of its business.
 
 8.  According to the information and explanation given to us the
 maintenance of cost records as prescribed by the Central Government
 under clauses (d) of sub-section(l) of section 209 of the Act, have
 been made and maintained.  
 
 9.  The Company is regular in depositing Provident dues with the
 prescribed authorities.
 
 10. According to the information and explanation given to us, no
 undisputed amount payable in respect of income-tax, Wealth tax, Sales
 tax, Customs duty, Excise duty and cess were in arrears as at 31st
 March 2013 for a period more than six months from the date they become
 payable.
 
 11.  The Company has incurred cash loss during the year. However its
 net worth of the Company at the end of the financial year is more than
 its accumulated losses after the increase in share capital along with
 share premium.
 
 12. The Company has not granted loans and advances on the basis of
 security by way of pledge of shares, debentures and other securities.
 
 13. As explained to us, the company has not given any guarantee for
 loans taken by others from bank or financial institutions.
 
 14. The company has not borrowed any term loans from banks/financial
 institutions during the year under consideration.
 
 15.  Funds raised on short term basis have not been used for long term
 investments and vice versa.
 
 16.  In our opinion and based on the information furnished and
 explanation given to us no fraud on or by the company has been noticed
 or reported during the period.
 
 17. The company is not a Sick Industrial company within meaning Section
 3(1) (O) of the Sick Industrial companies (Special Provisions) Act
 1985.
 
 18. The Other paragraphs of companies (Auditors Report) order 2003
 which are not dealt with by this report are not applicable to the
 company.
 
                                    For DURAIRAJ AND ASSOCIATES
 
                                    Chartered Accountants, FRN:003379S
 
 Place : Chennai-86                 T.T. DURAIRAJ KANDIAR
 
 Date : 30.08.2013                  Partner
 
                                    MNo.:024005
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `335 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `2409 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `4293 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1664 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `1753 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `912 Cr की खरीदारी
  • MARKET CUES : स्टॉक ऑप्शंस में `36 Cr की बिकवाली
  • JEFFERIES ON SUN PHARMA : BUY रेटिंग, लक्ष्य बढ़ाकर `530/Sh
  • CS ON SUN PHARMA : Neutral रेटिंग, लक्ष्य `400/Sh
  • CLSA ON SUN PHARMA : BUY रेटिंग, लक्ष्य घटाकर `560/Sh

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