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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Textiles - Terry Towels > लेखा परीक्षकों की रिपोर्ट से श्रद्धा टेरी प्रोडक्ट्स - बीएसई: 514422, NSE: N.A

श्रद्धा टेरी प्रोडक्ट्स

बीएसई: 514422  |  NSE: N.A  |  ISIN: INE167G01016  |  Textiles - Terry Towels

खोजें श्रद्धा टेरी प्रोडक्ट्स कनेक्शन
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '03
Auditors Report
 
 We have audited the attached Balance Sheet of Sharadha Terry Products
 Limited, as at March 31,2003 and also the Profit and Loss Account for
 the year ended on that dace annexed thereto. These financial statements
 are the responsibility of the Company's management. 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 whether the financial
 statement are free of material misstatement.  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 that our audit provides a reasonable b.isis
 for our opinion.
 
 1 As requin-'i.! by the Manufacturing and other Companies (Auditor's
 Report) Order, 1988 issued by the Central Government of India in terms
 of sub - section (4A) of section 227 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.
 
 2.  Further to our comments in the Annexure referred to in paragraph 1
 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 purpose of our
 audit;
 
 Annexure to the Auditors Report
 
 Statement referred to in paragraph 1 of our report of even date to the
 members of SHARADHA TERRY PRODUCTS LIMITED on the accounts for the year
 ended March 31,2003.
 
 1 The Company has maintained proper records showing full particulars
 including quantitative and situation of fixed assets. As informed to
 us, these fixed assets have been physically verified by the management
 at reasonable
 
 b. In our opinion, proper books of accounts is required by law have
 been kept by the company, so far as appears from our examination of the
 books;
 
 c.  The Balance Sheet and Profit and Loss Account dealt with by this
 report are in agreement with the books;
 
 d. In our opinion, the Profit and Loss Account and Balance Sheet comply
 with the accounting standards referred to in section 211 (3C) of the
 Companies Act, 1956;
 
 e. On the basis of written representations received from the directors,
 as on -March 31,2003, and taken on record by the Board of Directors, we
 report that none of the directors is disqualified as on March 31,2003
 from being appointed as a director in terms of clause (g) of
 sub-section (1) of section 274 of the Companies Act, 1956;
 
 f.  In our opinion and to the best of our information and according to
 the explanations given to us, the accounts give the information
 required by the Companies Act, 1956 in the manner so required and give
 a true and fair view;
 
 i. In the case of the Balance Sheet, of the state of affairs of the
 company as at March 31, 2003;
 
 and
 
 ii. in the case of the Profit and Loss Account, of the Profit for the
 year ended on that date.
 
                                      For GOPALAIYER AND SUBRAMANIAN
 
                                            Chartered Accountants
 
                                                 R MAHADEVAN
 Membership No. 27497
 Coimbatore                                        Partner
 June 29,2003                                      Auditors
 
 intervals and no serious discrepancies have been noticed on such
 verification.
 
 i.  None of the Fixed Assets have been revalued during the year.
 
 l.  Physical verification of stock of finished goods, stores and spares
 and raw materials have been carried out by the management at reasonable
 intervals.
 
 4.  The procedures of physical verification of stocks followed by the
 management are reasonable and adequate in relation to the size of the
 Company and nature of its business.
 
 5.  No material discrepancies have been noticed on such physical
 verification of stocks as compared to book records.
 
 6.  On the basis of our examination of stock records, we are of the
 opinion that the valuation of closing stock is fair and proper and in
 accordance with the method of valuation as prescribed in Accounting
 Standard 2 issued by the Institute of Chartered Accountants of India.
 
 7.  Deposits have been accepted from the parties listed in the Register
 maintained under section 301 of Companies Act, 1956 during the year.
 The rate of interest and other terms and conditions on which such
 deposits have been obtained are not prima facie prejudicial to the
 interest of the Company. No other loans have been obtained from the
 parties listed in the Register maintained under section 301 of the
 Companies Act, 1956.
 
 8.  The Company has not granted any loans secured or unsecured to
 Companies, firms or other parties listed in the Register maintained
 under Section 301 of the Companies Act, 1956.
 
 9.  In our opinion, and according to information and explanations given
 to us, there are adequate internal control procedures commensurate with
 the size of the Company and nature of its business with regard to
 purchase of stores and spares, raw materials, plant and machinery,
 equipment and other items and other assets and with regard to the sale
 of goods.
 
 10.  In our opinion, and according to information and explanations
 given to us during the course of our audit, on the transactions of
 purchase of goods and materials and on sales of goods and materials
 made in pursuance of contracts or arrangements with Companies in which
 the Directors are interested and entered in the Register maintained
 under Section 301 of the Companies Act, 1956, aggregating to
 Rs.50,000/- or more in respect of each party, the prices paid/amount
 realised are reasonable having regard to prevailing market prices for
 similar goods or materials or the prices at which transactions for
 similar goods have been made with other parties.
 
 11.  As explained to us, the Company has a regular procedure for
 determination of unserviceable or damaged stores, raw materials and
 finished goods. No loss has been determined during the year under
 review.
 
 12.  The Company has not accepted deposits from the public.
 
 13.  In our opinion, reasonable records have been maintained by the
 Company for the sale and disposal of scrap. The Company has no
 by-products.
 
 14.  The Company has an internal audit system commensurate with the
 size of the Company and the nature of its business.
 
 15.  We have broadly reviewed the books of accounts maintained by the
 Company pursuant to the Order made by the Central Government for the
 maintenance of cost records under section 209 (1) (d) of the Companies
 Act, 1956 and are of the opinion that prima facie the prescribed
 records and accounts have bean made and maintained. We have not,
 however, made a detailed examination of the records with a view to
 determining whether they are accurate or complete.
 
 16.  According to the records of the Company, Provident Fund dues have
 been regularly deposited with the appropriate authorities during the
 year. As explained to us, the provisions of the Employees State
 Insurance Act are not applicable to the company.
 
 17.  As explained to us and according to information and explanation
 given to us, there are no undisputed amounts payable as on March
 31,2003 in respect of Income-tax, Sales tax Excise Duty and Customs
 Duty for a period of more than six months from the date they became
 payable.
 
 18.  According to the information and explanation given to us, no
 personal expenses of employees or Directors have been charged to
 revenue account, other than those payable under contractual obligations
 or in accordance with generally accepted business practices.
 
 19.  The Company is not a Sick Industrial Company within the meaning of
 clause (o) of Sub-section (1) of Section (3) of the Sick Industrial
 Companies (Special Provisions) Act, 1985.
 
                                        For GOPALAIYER AND SUBRAMANIAN
 
                                            Chartered Accountants
 R MAHADEVAN
                                           Membership No. 27497
 Coimbatore                                       Partner
 June 29,2003
स्रोत: रेलीगरे टेचनोवा

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