TAMILNADU SPONGE LIMITED
We have audited the attached Balance Sheet of Tamilnadu Sponge Limited as
at 31st March 1996 and also the attached Profit and Lass account of the
company for the year ended on that date and report that:
We report that :
a) 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.
b) 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 the books.
c) The Balance Sheet and the Profit and Loss account dealt with by the
report are in agreement with the books of account.
d) In our opinion, and to the best of our information and according to the
explanations given to us, the said account read together with the notes
thereon and subject to Note 11 in Schedule 15 relating to provision for
depreciation, give the information required by the Companies Act, 1956, in
the manner so required and give a true and fair view:
1. In the case of the Balance Sheet of affairs of the Company as at 31st
2. In the case of the Profit and Loss Account, of the loss of the Company
for the year ended on that date.
For M/s V.V. SOUNDARARAJAN & CO.,
V.S. ASHOK KUMAR
Place : Madras
Dated : 6th September, 1996.