csj technologies ltd Auditors report

ANNUAL REPORT 1998-99 CSJ AGROS LIMITED AUDITORS REPORT 1. we report that we have audited the attached Balance Sheet of CSJ AGROS LIMITED as at 31st March, 1999 for the year ended on that date, which we have signed under reference to this report. 2. We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary for our audit, in our opinion, proper books of account have been kept as required by law so far as appears from our examination of the books and the above mentioned accounts are in agreement therewith. 3. In our opinion and to the best of our information and according to the explanations given to us, the Balance Sheet with the notes thereon and attached thereto, give in the prescribed manner the information required by the Companies Act, 1956, and also give respectively, subject to our remarks in paragraph 4 given below, a true and fair view of the state of the Companys affairs as at 31st March, 1999 for the year ended on that date. 4. As required by the manufacturing & other Companies (Auditors Report) Order, 1988 dated 7th September, 1988, issued by the Central Government and on the basis of such checks as we considered appropriate and according to the information and explanations given to us, we further report that: 4.1 The company is maintaining proper records to show full particulars, including quantitative details and situation of its fixed assets and these fixed asset have been physically verified at reasonable intervals during the year by the management and no discrepancies were noticed on such verification. 4.2 None of the Fixed assets have been revalued during the year. 4.3 The Company has not accepted any loans from the parties listed in the register maintained under section 301 of the Companies Act 1956 and /or from the Companies under the same management as defined sub-section (1-B) of section 370 of the Companies Act, 1956. 4.4 The Company has not granted loans and /or advances on the basis of security by way of pledge of shares, debentures and other similar securities. 4.5 There is adequate internal control procedure commensurate with the size of the company and the nature of its business for purchase of goods and assets and for sale of goods. 4.6 In our opinion and according to the information and explanation given to us there are no transactions of purchases of goods and sale of goods, materials and services made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year Rs. 50000/- or more in respect of each party. 4.7 The Company has not accepted any deposits from public during the year in excess of the limits prescribed u/s 28A of the Companies Act. 4.8 The Provisions of Paragraph 4 (A) (X IV), 4(A) (XV) and 4(A) (XVI) of the order are not applicable. 4.9 There are no dues under Provident Fund Acts and Employees State Insurance Act. 4.10 There are no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty and excise duty as at 31st March,1999 which are outstanding for a period of more than six months from the date they became payable. 4.11 The Company is not a sick Company within the meaning of clause (o) of section 3(1) of the Sick Industrial Companies (Special Provisions) Act, 1985. Hyderabad For M.R.K. REDDY & CO. Chartered Accountants (M. RAMAKRISHNA REDDY) 2nd September, 1999 Partner