ravindra energy ltd Auditors report
NUMERO UNO PROJECTS LIMITED
ANNUAL REPORT 2003-2004
AUDITORS REPORT
To,
The Shareholders of
NUMERO UNO PROJECTS LIMITED
We have audited the attached Balance Sheet of NUMNRO UNO PROJECTS LIMITED
as at 31st March, 2004 and also the Profit and Loss Account for the year
ended on that date annexed thereto These financial statements are the
responsibility of the Companys management. Our responsibility is to
express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as wall as evaluating the
overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
As required by the Manufacturing and Other Companies (Auditors Report)
order, 1988 issued by the Central Government of Indian in terms of sub-
section(4A) of section 227 of the Companies Act, 1956, we enclose in the
Annexure a statement on the matters specified in Paragraphs 4 and 5 of the
said order to the extent applicable.
Further we report that:
1. We have obtained all the information and explanations, which to the beat
of our knowledge and belief were necessary for the purpose of our audit and
have found them to be satisfactory.
2. In our opinion, proper books of account as required by law have been
kept by the Company so far an appears from our examination of those books.
3. The Balance Sheet and Profit and Loss dealt with by this report are in
agreement with the books of account.
4. In our opinion, the Balance Sheet and Profit and Loss Account dealt with
by this report comply with the accounting standards referred to in sub-
section(3C) of Section 211 of the Companies Act, 1956.
5. On the basis of the written representations received from the Directors,
on 31st March, 2004 and taken on record by the Board of Directors, we
report that none of the Directors one disqualified as on 31st March, 2004
from being appointed as a Director in terms of clause (g) of sub-section
(1) of section 274 of the Companies Act, 1956.
6. In our opinion and to the beat of our information and according to the
explanations given to us, the said accounts read together with the nots
thereon and the Significant Accounting Policies give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India.
i. In the case of the Balance Sheet, of the state of affairs of the Company
as at 31st March, 2004; and
ii. in the case of the Profit and Loss Account of the LOSS for the year
ended on that date.
For and on behalf of
KAUSHIK JOSHI & ASSOCIATES
Chartered Accountants
KAUSHIK JOSHI
(Proprietor)
PLACE : MUMBAI
DATED : 15TH JULY, 2004
i. The Company has maintained proper records showing full particulars
including quantitative details and situation of Fixed Assets. We have been
informed that the fixed assets have been physically verified by the
management at reasonable intervals during the year and as explained to us.
no material discrepancies have been noticed on such verification.
ii. None of the fixed assets have been revalued during the year.
iii. The company did not have any trading activity during the year and
hence there are no stocks at the end of the year and hence their physical
verification procedure does not arise.
iv. The Company has not taken any unsecured loans from Directors/Group
companies, as listed in the register maintained U/s. 301 of the Companies
Act, 1956 and as per the written representations made to us.
v. The company has granted unsecured loans and/or interest free advances
within the meaning of Section 301 of the Companies Act, 1956, and the
Companies under the same management U/s. 370(1B) of the Companies Act,
1956. In our opinion, having regard to the long-term involvement with the
said Companies and considering the explanations given to us in this regard,
the terms and conditions of the the above are not prima facie, prejudicial
to the interest of the Company. The details of the same as per the
mandatory requirement of AS-18 is given in item no.5 of Schedule-K in Notes
forming part of the accounts.
vi. The company has not purchased goods and materials and sold goods,
materials and services from/to the parties listed in the register
maintained U/s. 301 of the Companies Act, 1956.
vii. The provisions of the Internal Audit though applicable was not carried
out by the Company for the year under Audit.
vii. The procedure for determination of unserviceable or damaged trading
goods did not arise for the year under audit.
xi. The Company has not accepted any deposits from public under the
provisions of section 58A of the Companies Act, 1956.
x. The question of generation of by-products does not arise in the case of
this Company, since it is not carrying on any manufacturing activity.
xi. Maintenance of accounts and cost records are not prescribed by the
Central Government under Section 209(i)(d) of the Companies Act, 1956.
xii. As explained to us, the Provident Fund Rules are not applicable to the
company.
xiii. At the last day of the financial year there was no amount outstanding
in respect of any undisputed Income Tax, Wealth Tax, or Sales Tax which
were due for more than six months from the date they became payable.
xiv. According to the information and explanations given to us and the
record of the company examined by us, no personal expenses have been
charged to revenue account other than those payable under contractual
obligations or in accordance with the generally accepted business
practices.
xv. The Company is not a Sick Industrial Company within the meaning of
clause (O) of Sub-Section 3 of the Sick Industrial Companies (Special
Provision) Act, 1985.
For and on behalf of
KAUSHIK JOSHI & ASSOCIATES
Chartered Accountants
KAUSHIK JOSHI
(Proprietor)
PLACE : MUMBAI
DATED : 15TH JULY, 2004