SWAD INDUSTRIES AND LEASING LIMITED
We have audited the attached Balance Sheet of SWAD INDUSTRIES AND LEASING
LIMITED, Vadodara as on 30th April, 1994 alongwith a statement showing the
incidental and pre-operative expenditure during the construction period
pending allocation for the period ending on 30th April, 1994.
1. Further to our comments :
a) We have obtained all the information and explanation which to the best
of our knowledge and belief were necessary for the purpose of our audit;
b) In our opinion, proper books of accounts as required by law have been
kept by the Company, so far as it appears from our examination of the books
of the Company;
c) Balance Sheet and Statement showing the Incidental Expenditure Pending
Allocation for the period ending 30th April, 1995 dealt with by this report
are in agreement with the books of accounts of the Company : and
d) In our opinion and to the best of our information and according to the
explanation given to us, the accounts read with notes there on give the
information required by the Companies Act, 1956 in the manner so required
and give a true and fair view in the case of Balance Sheet of the statement
of affairs of the Company as on 30th April, 1994 along with a Statement
showing the incidental and pre-operative expenditure pending allocation for
the period from 1st November, 1992 to 30th April, 1994.
FOR JAGIWALA & CO.
Yogesh R. Jagiwala
Place : Vadodara,
Dated : 4th day of May, 1995.