shanudeep pvt ltd Management discussions


SHANUDEEP PRIVATE LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS OPERATIONS AND ACCOUNTS: During the year under report, the Company has continued to maintain proper books of account in respect of the trading, investments and property divisions for the year under report. The observations made by the Auditors in their Report have been duly clarified in the relevant notes forming part of the Annual Accounts and the same are self-explanatory. The Board is of the opinion that the existing internal control procedures and systems which are being implemented by the Management are sufficient having regard to the nature and volume of the Companys business activities, and hence the Company does not need to have a separate internal audit system. As regards the qualification contained in the Auditors Report in relation to non-provision of doubtful advances aggregating Rs.78.70 lakhs, the Board is of the view that most of the items under this head are likely to be sorted out to the satisfaction of the Company by the end of this year. Yet, if any amount is eventually found to be irrecoverable, the Board will consider accounting for the same while finalising accounts for the current year.