DHAR CEMENT LIMITED
We have audited the attached Balance Sheet of Dhar Cement Limited as at 31
st March, 1996 and Profit and Loss Account for the year ended on that date
annexed thereto and report that :
i) 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.
ii) 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 such books.
iii) The Balance Sheet and Profit & Loss Account referred to in this report
are in agreement with the books of account maintained by the Company.
iv) In our opinion and to the best of our information and according to the
explanations given to us, the said accounts subject to Note No.3 (a)
regarding non provision of liability against Entry Tax and Sales Tax orders
amounting to Rs.13.84 lacs.
Note No.3 (b) regarding non provision of liability, on account of
additional and penal interest on Term Loans from Financial Institutions, if
any, amount being unascertained.
Note No.9 regarding non provision of doubtful debts, advances and sundry
deposits aggregating to Rs.36.93 lacs.
Note No.10 & 11 regarding non confirmation and reconciliation of balances
of parties, financial institutions, bank balances in respect of share
application money, share allotment money and dividend unpaid.
Note No.17 regarding change in method of providing depreciation and read
together with other notes and schedules annexed thereto and forming part
thereof, give the information required by the Companies Act, 1956, in the
manner so required and give a true and fair view :
a) in so far as it relates to the Balance Sheet, of the state of affairs of
the Company as at 31st March, 1996.
b) in so far as it relates to the Profit and Loss Account of the 'LOSS' of
the Company for the year ended on that date.
For MITTAL & ASSOCIATES
Place : Mumbai,
Dated : 25th June, 1996.