LALBHAI FINANCE LIMITED
We have audited the attached Balance-sheet of LALBHAI FINANCE LTD. as at
31st March, 1996 and Profit & Loss Account for the year ended on that date
annexed thereto and report that:-
1. 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.
2. 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.
3. The Balance Sheet and Profit & Loss A/c. dealt with by this report are
in agreement with the books of account.
4. In our opinion and to the best of our information and according to the
explanations given to us, the accounts subject to and read with the notes
thereon and in particular Note No. 7 of Schedule 18 regarding Change in
method of accounting of Lease Transactions and its consequential effect on
reducing the profit by Rs. 5,15,733/- give the information required by the
Companies Act, 1956 in the manner so required and give a true and fair
a) In the case of Balance Sheet of the state of affairs of the Company as
at 31st March, 1996 AND
b) In the case of Profit & Loss A/c. of the Profit for the year ended on
FOR J.T. SHAH & COMPANY
PLACE : AHMEDABAD
DATE : 29TH JUNE, 1996.