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Moneycontrol.com ભારત | ઓડિટર રિપોર્ટ > Textiles - Spinning - Cotton Blended > ઓડિટર રિપોર્ટ થી એનઇપીસી ટક્સટાઇલ્સ - બીએસઈ: 521192, ઍનઍસઈ : NEPCTEX

એનઇપીસી ટક્સટાઇલ્સ

બીએસઈ: 521192  |  ઍનઍસઈ : NEPCTEX  |  ISIN: INE574B01022  |  Textiles - Spinning - Cotton Blended

શોધો એનઇપીસી ટક્સટાઇલ્સ કનેક્શન � Sep 12
ઓડિટર રિપોર્ટ વર્ષાન્ત : Sep '13
1.  We have audited the attached Balance sheet of NEPC TEXTILES LIMITED
 as on 30th Setember 2013, the Profit and Loss Account for the period
 from October2012 to September 2013 and the cash flow statement annexed
 thereto. These financial statements are the responsibility of the
 Company''s 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 amount 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 (Auditor''s Report) 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 Annexure a
 statement on the matters specified in paragraph 4 & 5 of the said order
 to the extent applicable.
 
 4.  Further to our comments in the Annexure referred to in para (3)
 above.
 
 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, the company has kept proper books of account as
 required by law so far as appears from our examination of the books.
 
 c) The Balance Sheet, the Profit & Loss Account and cash flow statement
 dealt with by this report are in agreement with the books of account.
 
 d) In our opinion, the Balance Sheet the Profit & Loss Account and cash
 flow statement dealt with by this report comply with the accounting
 standards referred to in Section 133 of the Companies Act,2013
 (corresponding to sub-section 3 (C) of Section 211 of the Companies
 Act, 1956 ) to the extent made mandatory, except with respect to
 Provision of Retirement benefits on accrual basis which is not in
 accordance with the AS15 prescribed by the ICAI. However, the impact
 thereof on Profit/loss and Liabilities cannot be quantified because the
 retirement benefits provision amount could not be ascertained (Refer
 Note No.6).
 
 e) Based on the written representations received from the directors and
 taken on record by the Board of Directors, we report that none of the
 directors are disqualified as on 30th September 2013 from being
 appointed as directors in terms of clause (g) of sub-section 1 of
 Section 274 of the Companies Act, 1956.
 
 f) Attention is invited to the following note in Note- 10.
 
 Point No. 4 it was not possible for us to obtain external confirmations
 about accounts receivable, accounts payable, loans and advance,
 deposits and the balances as on 30th September 2013.
 
 The Sundry creditors and Loans and advances figures (including
 inter-company balances) mainly consist of opening balances brought
 forward from earlier years, which are not confirmed by the Management.
 The Management is in the process of reconciliation / getting
 confirmation of the accounts. we are unable to determine whether any
 adjustments might have been found necessary, as the result of the
 above. The impact thereof on profit / loss and liabilites cannot be
 quantified due to non-completion of reconciliation by the mangement
 (Refer Note No: 4).
 
 Subject to the above notes and also subject to the note nos:3(i) to
 3(iii) and their consequential effect on the respective assets and
 liabilities and also on the Profit for the year and together with the
 notes and accounting policies in Note - 10. In our opinion and to the
 best of our information and according to the explanations given to us,
 the said accounts read together with the significant accounting
 policies and other notes thereon give the information required by the
 Companies Act, 1956 in the manner so required and present and ture and
 fair view in conformity with the accounting priniciples generally
 accepted in India:
 
 i) In so far as it related to Balance Sheet, of the state of affairs of
 the Company as at 30th September 2013.
 
 ii) In so far as it relates to the Profit and Loss account, of the
 profit of the Company for the period from October 2012 to September
 2013 and
 
 iii) In the case of Cash Flow Statement, the Cash Flows of the Company
 for the period from October 2012 to September 2013.
 
 ANNEXURE TO THE AUDITOR''S REPORT
 
 (Refer Paragraph 2 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.
 
 b) In our opinion, the company has not disposed off substantial part of
 fixed assets during the year.
 
 2.  In respect of inventories
 
 a) No physical verification of inventories was carried-out due to
 lockout of the mills.
 
 b) The company is maintaining proper records of inventory. As explained
 to us, there were no material discrepancies noticed on physical
 verification of stocks as compared to book records.
 
 3.  a) The Company has not granted or taken by the Company to or from
 Companies, firms or other parties covered in the register maintained
 under Sec 301 of the Companies Act, 1956 according to the information
 and explanation given to us.
 
 b) As per the accounts and records made available to us, the Company
 has not granted any loans secured or unsecured to companies, firms and
 other parties listed in the register mainained under section 301 of the
 Companies Act, 1956.
 
 Based on the information / explanation given to us, there were no
 transactions involving purchase or sale of goods or provision of
 services during the year which aggregate to Rs.5 lakhs or above, entered
 into with parties listed in the register maintained under Section 301
 of the Companies Act 1956 during the period under review.
 
 4.  In our opinion and according to the information and explanations
 given to us, there are adequate internal control procedures
 commensurate with the size of the company and nature of its business
 for the purchase of inventory and fixed assets and for sale of goods.
 During the course of audit, we have not observed any continuing failure
 to correct major weakness in internal control.
 
 5.  The company has not accepted any deposits from the public.
 
 6.  In our opinion, internal audit system of the company is
 commensurate with its size and nature of business.
 
 7.  According to the information and explanations given to us there are
 undisputed statutory dues payable in respect of Provident Fund,
 Employees State Insurance, Income Tax, and Sales Tax which are
 outstanding for a period of more than 6 months from the date they
 became payable.  Amount un-ascertainable.
 
 8.  The company has accumulated losses (refer note no: 3(ii)). The
 Company has not incurred cash losses during the period.
 
 9.  The company has not granted loans and advances on the basis of
 securities by way of pledge of shares and other securities.
 
 10.  The company is not a chit fund or a nidhi/mutual benefit fund
 society. Therefore the provisions of clause 4 (xiii) of the Order are
 not applicable to the company.
 
 11.  The company is not dealing in or trading in shares and securities
 and other investments.  Accordingly the provisions of Clause 4 (xiv) of
 the Order are not applicable to the company.
 
 12.  According to the information given to us, the company has not
 given guarantees for loans taken by others from Banks and other
 Financial Institutions.
 
 13.  The company has not raised any new term loans during the year.
 
 14.  According to the information and explanations given to us, no
 funds raised on short-term basis have been used for long-term
 investments or vice-versa during the year.
 
 For M/s M.Dinesh Kumar & Co.
 Chartered Accountants
 
 Sd/-
 
 Membership No:222084
 
 Chennai
 15th November, 2013
 
 
 
 
 
 
 
 
સ્તોત્ર: રેલીગેર ટેકનોવા


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