suryodaya plastics ltd Auditors report
SURYODAYA PLASTICS LIMITED
ANNUAL REPORT 2011-2012
AUDITORS REPORT
TO
THE MEMBERS OF
SURYODAYA PLASTICS LIMITED
1. We have audited the attached Balance Sheet of SURYODAYA PLASTICS LIMITED
as at 31st March, 2012 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.
2. 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 well as evaluating the
overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
3. As required by the Companies (Auditors Report)(Amendment) Order, 2003
issued by the Central Government of India 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.
4. Further to our comments in the Annexure referred to above, 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 those books
and proper returns adequate .for the purpose of our audit have been
received from the branches not visited by us. The Branch Auditors Report
(s) have been forwarded to us and have been appropriately dealt with.
(c) The Balance Sheet and Profit and Loss Account dealt with by this report
are in agreement with the books of account and with the audited returns
from the branches.
(d) 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.
(e) On the basis of written representations received from the directors, as
on 31st March, 2012 and taken on record by the Board of Directors we report
that none of the directors is disqualified as on 31st March, 2012 from
being appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
(f) In our opinion and to the best of our information and according to the
explanations given to us, the said accounts 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, 2012 and
(ii) in the case of the Profit and Loss Account, of the profit or loss for
the year ended on that date.
(iii) in case of the Cash Row Statement, of the cash flows of the Company
for the year ended on that date.
For RAMAN S. SHAH a ASSOCIATES
CHARTERED ACCOUNTANTS
CA RAMAN S. SHAH
(PARTNER)
MEMBERSHIP NO:- 33272
PLACE: MUMBAI
DATE : 28.5.2012
REFERRED TO IN PARAGRAPH OF OUR REPORT OF EVEN DATE
1 In respect of its Fixed Assets
a. The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets on the basis
of available information.
b. The Company Dose not have any fixed assets as a result of this, the
going concern status of the company is affected.
2. In respect of its Inventories
As per informations & explanations given to us a taking into consideration
the nature of the business of the company , this clause is not applicable.
3. In respect of loans, secured or unsecured, granted or taken by the
company to/from companies, firms or other parties covered in the register
maintained under Section 301 of the Companies Act, 1956.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to or from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
4. In respect of Internal control procedures
As per informations 6 explanations given to us & taking into consideration
the nature of the business of the company ,this clause is not applicable.
5. As explained to us there has not been any transaction during the year
that need to be entered in the register maintained under section 301 of the
Companies Act 1956 and exceeding during the year to Rs. 5,00,000 or more in
respect of each such party.
6. The company has not accepted any deposits from the public.
7. In respect of internal audit system of the company
As per informations & explanations given to us & taking into consideration
the size and the nature of the business of the company ,this clause is not
applicable.
8. In respect of maintenance of Cost Records u/s 209(1)(d) of the Companies
Act. 1956.
As per informations 6 explanations given to us 6 taking into consideration
the size and the nature of the business of the company ,this clause is not
applicable.
9. In respect of undisputed statutory dues
According to the information and explanations given to us, there are no
undisputed statutory dues payable in respect of Provident Fund, Investor
Education and Protection Fund, Employees State Insurance, Income-tax,
Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty , cess which
are outstanding as at for a period of more than six months from the date
they became payable.
10. In respect of accumulated losses ft Cash Losses
The company has accumulated losses of Rs. 7,22,26,483/- as on 31st
March, 2012
11. According to the information and explanations given to us the company
has not taken a by loans from any financial institution or bank or
debenture holder.
12. In our opinion and according to the information & explanation given to
us, no loan and advances have been granted by the company on the basis of
security by way of pledge of shares, debentures and other securities.
13. In our opinion,the company is not a Chit fund, Nidhi or mutual benefit
Society. therefore, this clause is not applicable to the company.
14. The company is not dealing or trading in in shares, securities,
debentures and other investments. Hence this clause is not applicable to
the company.
15. According to the information and explanations given to us, the company
has not given any guarantee for loans taken by others from bank or
financial institutions.
16. As per information and explanations given to us, the company has not
taken any term loans,therefore, this clause is not applicable to the
company.
17. According to the information and explanations given to us, no funds
raised on short-term basis have been used for long-term investment.
Similarly, no funds raised on long term basis have been used for short-term
investment.
18. During the year, the company has not made preferential allotment of
shares to companies, firms or other parties listed in the register
maintained under section 301 of the Companies Act, 1956.
19. The company has not issued any debentures. Hence the requirements of
clause (xix) of paragraph 4 of the Order is not applicable to the company.
20. The company has not raised any money by way of public issues during the
year.
21. In our opinion & according to the information and explanations given to
us, a fraud on or by the company has not been noticed or reported during
the year.
For RAMAN S. SHAH a ASSOCIATES
CHARTERED ACCOUNTANTS
CA RAMAN S. SHAH
(PARTNER)
MEMBERSHIP NO:- 33272
PLACE: MUMBAI
DATE : 28.5.2012