Rajendra Mining Spares Company Ltd


BSE: 530225 | NSE: NA | ISIN: NA 
Market Cap: [Rs.Cr.] 1 | Face Value: [Rs.] 10
Industry: Miscellaneous

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Auditor's Report

ANNUAL REPORT 1998-99 RAJENDRA MINING SPARES COMPANY LIMITED AUDITOR'S REPORT TO THE MEMBERS OF RAJENDRA MINING SPARES COMPANY LIMITED We have audited the attached Balance Sheet of RAJENDRA MINING SPARES COMPANY LIMITED as at 31st March,1999 and the Profit & Loss Account of the Company for the year ended on that date annexed thereto, and report that: 1. As required by the Manufacturing and Other companies (Auditor's Report) order, 1988 issued by the Company Law Board in terms of Section 227 (4A) 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. 2. Further to our comments in the Annexure referred to in paragraph 1 above, we report that: a) We have obtained all the informations 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 it appears from our examination of such books. c) The Balance Sheet and Profit & Loss Account referred to in this report are in agreement with books of accounts. d) In our opinion the Balance Sheet and the Profit & Loss Account complies with the Mandatory Accounting standards referred to in section 211(3C) of the companies Act, 1956. e) In our opinion and to the best of our information and according to the explanations given to us, the said accounts subject to i) Note No. G relating to interest on Term Loan and Working Capital. ii) Note No. H relating to damage of goods due to fire. And read together with other notes thereon, give the true and fair view: i. In the case of Balance Sheet of the State of affairs of the Company as at 31st March,1999 and ii. In the case of Profit & Loss Account, of the Loss of the Company for the year ended on that date. For G. R. SHETTY & CO. CHARTERED ACCOUNTANTS ( G.R. SHETTY ) PROPRIETOR PLACE: MUMBAI DATE: 27.08.1999 ANNEXURE TO AUDITOR'S REPORT REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE 1. The company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. We are informed that most of the assets have been physically verified by the management during the year and that no material discrepancies were noticed on such verification In our opinion, the frequency of such verification is reasonable having regard to the size of the Company and the nature of its assets. 2. None of the Fixed Assets have been revalued during the year 3. According to the information and explanations given to us, the stock of raw materials have been physically verified by the management at the end of the year. In our opinion, the frequency of such verification is reasonable. 4. In our opinion, the procedure of physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. 5. As explained to us, there were no material discrepancies noticed on physical verification of the stocks . 6. In our opinion, and on the basis of our examination of stock and other records, the valuation of stocks is fair and proper and is in accordance with the normally accepted accounting principles and is on the same basis as in the preceding year. 7. The Company has not taken any loans, secured or unsecured from the Companies Firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or from Companies under the same management as defined under sub-section (1-B) of section 370 of the said Act. 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 or to Companies under the same management within the meaning of section 370(1 -B) of the Companies Act,1956. 9. The parties to whom the loans or advances in the nature of loans have been given by the Company are generally repaying the principal amounts as stipulated and are also regular in the payment of interest wherever the same is stipulated. 10. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regard to purchase and sale of goods. 11. In our opinion and according to the information and explanations given to us, there are no transactions of purchase of goods or materials and sale of goods materials and services, made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the companies act 1956,and aggregating during the year to Rs. 50,000/- [Rupees fifty Thousand only] or more in respect of each party. 12. As explained to us, in the opinion of the management the raw materials are not damaged or unserviceable and hence no provision is made for the same. 13. Since the Company has not accepted any deposits within the meaning of the Companies (Acceptance of Deposits) Rules, 1975, the directives issued by the Reserve Bank of India, the provisions of section 58A and the rules framed thereunder are not applicable. 14. As explained to us, the Company does not have any by-product or production scrap. 15. In our opinion the Company has an adequate internal audit system commensurate with the size and nature of business. 16. As explained to us, the Central Government has not prescribed maintenance of cost records under section 209(1)(d) of the Companies Act, 1956 in the case of the Company. 17. According to the records of the company, company is regular in depositing ESI dues with the appropriate authorities, we have been informed that, Provident Fund is not applicable to the Company. 18. According to information and explanations given to us, no undisputed amounts payable in a respect of the Income Tax, Wealth Tax, Sales Tax, Customs Duty and Excise Duty were outstanding as on 31.03.199 for a period of more than six months from the date of becoming payable. 19. According to the information and examinations given to us and on the basis of records examined by us, no personal expenses of employees or directors have been charged to revenue account other then those payable under Contractual obligations or in accordance with generally accepted business practice. 20. 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. 21. In respect of service activities of the Company, as per the information and explanations given to us and taking into consideration the nature of the business of the Company, it is not required to have a system of: a) Recording of receipts, issue and consumption of materials and stores. b) Allocation of man-hour utilised and c) Authorisation at proper levels and internal control on issue of stores and allocation of stores and labour to jobs. Accordingly this report does not include a statement on the matters specified above. For G. R. SHETTY & CO. CHARTERED ACCOUNTANTS ( G.R. SHETTY ) PROPRIETOR PLACE: MUMBAI DATE : 27.08.1999

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Key Information

Key Executives:

Rajendra D Seth , Chairman & Managing Director 

Gopal R Seth , Director 

Kalawati R Seth , Director 


Company Head Office / Quarters:
105 Bajson Ind Estate,
40 Chakala Road Andheri (E),
Mumbai,
Maharashtra-400099
Phone : 91-22-8321586/8348634
Fax : 91-22-8384841
E-mail :
Web : http://
Registrars:
Intime Share Services Pvt Ltd
260-A Shanti Ind Est
Sarojini Naidu Road
Mulund (W)
Mumbai - 400080

Fund Holding

 
Scheme Name No. of Shares
No data found

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