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moneycontrol.com भारत | लेखा परीक्षकों की रिपोर्ट > Cement - Major > लेखा परीक्षकों की रिपोर्ट से श्री विष्णु सीमेंट - बीएसई: 518018, NSE: SRIVISHCEM

श्री विष्णु सीमेंट

बीएसई: 518018  |  NSE: SRIVISHCEM  |  ISIN: INE286B01015  |  Cement - Major

खोजें श्री विष्णु सीमेंट कनेक्शन Mar 06
लेखा परीक्षकों की रिपोर्ट वर्षांत : Dec '06
1.  We have audited the attached Balance Sheet of Sri Vishnu Cement
 Limited as at 31st December, 2006 and also the Profit and Loss Account
 and the Cash Flow Statement for the nine months period ended on that
 date annexed thereto. These financial statements are the responsibility
 of the Companys management. 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 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 basis for
 our opinion.
 
 3.  As required by the Companies (Auditors Report) Order, 2003 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 paragraph 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 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 appears from our examination of those
 books;
 
 c) the Balance Sheet, Profit and Loss Account and Cash Flow Statement
 dealt with by this report are in agreement with the books of account;
 
 d) in our opinion, the Balance Sheet, Profit and Loss Account and Cash
 Flow Statement dealt with by this report comply with the accounting
 standards referred to in sub-section (3C) of Section 211 of the
 Companies Act, 1956;
 
 e) on the basis of the written representations received from the
 directors as on 31st December, 2006, and taken on record by the Board
 of Directors, we report that none of the directors is disqualified as
 on 31st December, 2006 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 said accounts 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 case of the Balance Sheet, of the state of affairs of the
 Company as at 31st December, 2006;
 
 (ii) in case of the Profit and Loss Account, of the profit of the
 Company for the nine months period ended on that date; and
 
 (iii) in case of the Cash Flow Statement, of the cash flows of the
 Company for the nine months period ended on that date.
 
 ANNEXURE TO THE AUDITORS REPORT TO THE MEMBERS OF SRI VISHNU CEMENT
 LIMITED ON THE ACCOUNTS FOR THE NINE MONTHS PERIOD ENDED 31st DECEMBER,
 2006
 
 (i) (a) The Company has maintained proper records showing full
 particulars including quantitative details and situation of its fixed
 assets.
 
 (b) The fixed assets of the company were physically verified by the
 management during the financial year and no major discrepancies were
 noticed on such verification.  In our opinion the frequency of physical
 verification is reasonable having regard to the size of the Company and
 the nature of the assets.
 
 (c) There has been no disposal of substantial part of the fixed assets
 during the financial year.
 
 (ii) (a) Inventory has been physically verified by the management at
 reasonable intervals during the financial year.
 
 (b) In our opinion and according to the information and explanations
 given to us, the procedures of physical verification of inventory
 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. No material
 discrepancies were noticed on physical verification.
 
 (iii) According to the information and explanations given to us, the
 Company, during the financial year has not granted/ taken any loans,
 secured or unsecured to/from companies, firms or other parties as per
 the register maintained under Section 301 of the Companies Act, 1956.
 
 (iv) In our opinion and according to the information and explanations
 given to us, there are adequate internal control systems commensurate
 with the size of the Company and the nature of its business with regard
 to purchase of inventory and fixed assets and with regard to the sale
 of goods and services. Further, on the basis of our examination, and
 according to the information and explanations given to us, we have
 neither come across nor we have been informed of any instance of major
 weakness in the aforesaid internal control system.
 
 (v) As explained to us, there are no transactions that need to be
 entered in the register maintained in pursuance of Section 301 of the
 Companies Act, 1956 and exceeding the value of five lacs rupees in
 respect of any party during the financial year.
 
 (vi) The Company has not accepted deposits from the public to which the
 provisions of Section 58(A) and 58(AA) and any other relevant
 provisions of the Companies Act, 1956 and the rules framed there under
 apply.
 
 (vii) In our opinion the Companys present internal audit system
 is commensurate with its size and nature of its business.
 
 (viii) We have broadly reviewed the books of account 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
 accounts and records have been maintained. We have not, however, made a
 detailed examination of the said records.
 
 (ix) (a) According to the information and explanations given to us and
 according to the books and records as produced and examined by us in
 accordance with the generally accepted auditing practices in India, the
 Company is regular in depositing undisputed statutory dues including
 provident fund, employees state insurance, income tax, sales tax,
 wealth tax, service tax, excise duty, customs duty, cess and other
 statutory dues as applicable with the appropriate authorities. There
 are no dues in respect of investor education and protection fund.
 
 (b) As at 3 V December, 2006, according to the records of the Company
 and the information and explanations given to us, the following are the
 particulars of dues on account of sales tax, and excise duty matters
 that have not been deposited on account of any dispute :
 
 SI.   Name of the  Nature of  Amount  Period to  Forum where 
 No.  Statute       dues     (Rs. lacs)which      dispute is
                                       amount     pending
                                       relates
 
 1.Central Excise  Excise     5.86    2001-02     Customs,
 Act, 1944          duty/             to          Exercise &
                   Penalty            2004-05     Service Tax
                   and                            Appellate
                   Interest                       Tribunal
 2.Orissa Entry    Entry Tax   7.44   2005-06     Appellate
 Tax Act, 1999                                    Assistant
                                                  Commissioner
 3.CSTAct,         Sales Tax- 16.76   1991-92     Sales Tax
 1956                CST              to          Appellate
                                      1993-94     Tribunal
 4.State Sales     Sales Tax 118.43   1991-92 to  Sales Tax
 Tax Ads -                            1996-97 &   Appellate
 Where the                            2001-02     Tribunal
 Company is
 a registered                20.14    2005-06     High Court
 dealer                                           Andhra
                                                  Pradesh
                              9.86    1992-93     High Court
                                                  Madras
                             16.11    1992-93     High Court,
                                                  of Orissa
                              0.22    1994-95     Appellate 
                                                  Assistant
                                                  Commissoner
                            194.82
 
 As explained to us, there are no dues on account of income tax, welath
 tax, service tax, customs duty and cess matters that have not been
 deposited as on 31st December, 2006 on account of any dispute.
 
 (x) The Company does not have any accumulated losses as at 31st
 December, 2006 and has not incurred cash losses during the financial
 year and immediately preceding financial year.
 
 (xi) According to the information and explanations given to us, the
 Company during the financial year has not defaulted in repayment of
 dues to financial institutions or bank or debenture holders.
 
 (xii) The Company during the financial year has not granted any loan
 and advances on the basis of security by way of pledge of shares,
 debentures and other securities.
 
 (xiii) The Company is not a nidhi/mutual benefit fund/society to which
 the provisions of special statute relating to chit fund are applicable.
 
 (xiv) In our opinion and according to the information and explanations
 given to us, the Company is not a dealer or trader in securities.
 
 (xv) According to the information and explanations given to us, in our
 opinion, the Company has not given any guarantee for loans taken by
 others from bank or financial institutions.
 
 (xvi) According to the information and explanations given to us, the
 term loans taken by the Company have been applied for the purpose for
 which they were obtained.
 
 (xvii) According to the information and explanations given to us funds
 raised on short term basis have not been used for long term investment.
 
 (xviii) 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.
 
 (xix) As there are no debentures outstanding as at year end, paragraph
 (xix) of the order is not applicable.
 
 (xx) The Company has not raised any money by way of public issue during
 the financial year.
 
 (xxi) According to the information and explanations given to us,
 during the year, no fraud on or by the Company has been noticed or
 reported.
 
                                   For A. F. Ferguson & Co.
                                   Chartered Accountants
                                       A. C. Gupta
 Place : Hyderabad                         Partner
 Date : 23rd Feb., 2007                M. No. 8538
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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  • CS ON BHEL : Outperform रेटिंग, लक्ष्य `88/Sh
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