PUNJAB IRON & STEEL COMPANY LIMITED
We report that we have audited the attached Balance Sheet of Punjab Iron &
Steel Co. Ltd. as at 31-3-96 and also the attached Profit & Loss Account of
the company for the year ended on that date 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 accounts as required by law have been
kept by the Company so far as appears from our examination of the books.
3. The said Balance Sheet and Profit & Loss Account are in agreement with
the books of accounts.
4. In our opinion and to the best of our information and according to the
explanations given to us. The Accounts together with the Schedule annexed
there to read with the notes made thereon, 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 the balance Sheet of the State of the affairs of the
company as at 31-3-96 and
(b) in the case of the profit and loss account, of the loss for the year
ended on that date.
For G. S. SYAL & COMPANY
Date : 30-8-1996
Place : Jalandhar