birmingham thermo tech ltd Auditors report

BIRMINGHAM TEERMOTECH LIMITED ANNUAL REPORT 1999-2000 AUDITORS REPORT To the Members of BIRMINGHAM TEERMOTECH LIMITED We have audited the attached Balance Sheet of BIRMINGHAM TEERMOTECH LIMITED, as at 31st March 2000 and report that: 1. As required by the Manufacturing and Other Companies (Auditors Report) Order 1988 issued by the Company law Board in terms of section 227 (4A) of the Companies Act, 1956. We annex here to a statement on the matters specified in paragraphs 4 and 5 of the said order. 2. Further to our commends in the annexure refer to in paragraph 1 above we report that: a. We have obtained the information 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 account as required by law have been kept by the Company so far as appears from our examination of such accounts. c. The Balance Sheet referred to in this report is in agreement with the books of accounts.] d. In our opinion, and to the best of our information and according to explanation given to us, the said Balance Sheet and Profit and Loss Account read together with the notes thereon give the information required by the Companies Act, 1956 in the manner so required a true and fair view:- i) In the case of he Balance Sheet of the state of affairs of the Company as at 31st March 2000 and ii) In the case of the Profit and Loss Account of profit for the year ended on that date. As per our attached report of even date Place: Ahmedabad For Doctor & Patel Date : 04.06.2000 Chartered Accountants (Vasant Patel) Partner ANNEXURE (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 all these fixed assets have been physically verified by the management at reasonable intervals during the year. No discrepancies were noticed on such verification. 2. There has been no revaluation of fixed assets during the year. 3. Stock of trade securities and investments have been physically verified by the management during the year. In our opinion the frequency of verification is reasonable. 4. In our Opinion, procedure of physically verification of stocks followed by the management is reasonable in relation to the size of the Company and the nature of its business. 5. No discrepancies noticed between the physical stock and the books records. 6. On the basis of our examination of stock records, we are of the opinion that the valuation of tread securities is fair and proper in accordance with the normally accepted accounting principles, 7. The Company has not taken any long, secured or unsecured from companies, Firms or other parties listed in the Register maintained under section 301 of the Companies Act, 1956 and/or subsection (1B) of Section 370 of the Companies Act, 1956 as informed by the Management of the company. 8. The Company has not granted any loan secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the same management as defined under subsection (1B) of Section 370 of the Companies Act, 1956 as informed by the management of the Company. 9. In respect of loans and advances in the nature of loans given by the Company, parties are generally regular in respect of repayment. 10. In our opinion and according to the information and explanations given to us, the internal Audit procedure is commensurate with size of the Company and the nature of its business. 11. In our opinion and according to the information and explanations give to us, where transactions of purchase and sales of investments and shares and securities are in pursuance of contract or the arrangement entered in the registers maintained under section 301 if the Companies Act, 1956 and aggregating during the year to the tune of Rs. 50,000 or more have been made at price which are reasonable having regard to the prevailing market prices for such goods, stock and shares, materials or services or the prices at which transactions for similiar goods, materials, stock and shares and services have been made with other parties. 12. The Company has not accepted any deposits from public during the year. 13. According to the records of the Company and the information given to us, there are no undisputed amounts payable in respects of Income tax, Wealth tax, Sales tax, Customs Duty and Excise duty outstanding as at the date of Balance Sheet, for a period of more than six months from the date they became payable. 14. According to the information and records of the companies, the Provided Fund Act is not applicable to the Company. 15. In our opinion and according to the information and explanation given to us and the records of the Company examined by us no personal expenses have been charged to revenue account, except those payable under contractual obligations, and in accordance with the usual commercial practices. 16. The Company has not given any loans and advances, on the basis of security by way of pledge of shares. 17. The Company has maintained proper records or transactions and contracts in respect of trading in shares and other securities and that timely entries have been made therein. 18. The Company is not a sick Industrial Company within the meaning of clause (a) of sub section (1) of section 3 of the Sick Industrial Companies (Special Provision) Act. As per our attached report of even date Place: Ahmedabad For Doctor & Patel Date : 04.06.2000 Chartered Accountants (Vasant Patel) Partner