You are here » Home » Companies » Company Overview » Aadi Industries Ltd

Aadi Industries Ltd.

BSE: 530027 Sector: Industrials
NSE: N.A. ISIN Code: INE563D01013
BSE LIVE 15:14 | 06 Dec 1.45 0
(0.00%)
OPEN

1.45

HIGH

1.45

LOW

1.45

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.45
PREVIOUS CLOSE 1.45
VOLUME 223
52-Week high 3.17
52-Week low 1.11
P/E
Mkt Cap.(Rs cr) 1.45
Buy Price 1.38
Buy Qty 2000.00
Sell Price 1.40
Sell Qty 2000.00
OPEN 1.45
CLOSE 1.45
VOLUME 223
52-Week high 3.17
52-Week low 1.11
P/E
Mkt Cap.(Rs cr) 1.45
Buy Price 1.38
Buy Qty 2000.00
Sell Price 1.40
Sell Qty 2000.00

Aadi Industries Ltd. (AADIINDUSTRIES) - Auditors Report

Company auditors report

AADI INDUSTRIES LIMITED ANNUAL REPORT 2010-2011 AUDITORS' REPORT The Members of M/s. AADI INDUSTRIES LIMITED, MUMBAI. We have audited the attached Balance Sheet of M/s. AADI INDUSTRIES LIMITED, as at 31st March 2011, the Profit and Loss Account and also the cash flow statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on this financial statement based on our audit. 1. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards required that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit included 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. 2. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of subsection (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. 3. Further to our comments in the Annexure referred to above, we report that: (i) We have obtained all the information and explanations, which is to the best of our knowledge and belief, were necessary for the purpose of our audit. (ii) 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 these books. (iii) The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account; (iv) In our opinion, the balance sheet, profit and loss account and cash flow statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956; (v) On the basis of written representations received from the directors and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2011 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956; (vi) 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; a) In the case of the balance sheet, of the state of affairs of the company as at 31st March, 2011. b) In the case of the profit and loss account, of the profit for the year ended on that date; and c) In the case of the cash flow statement, ofthe cash flows for the year ended on that date. For SUNDERJI GOSAR & CO. Chartered Accountants. (ALPESH K. SAVLA) PARTNER M.No. 047828. Firm Reg No 115543W Place: Mumbai Date : 30-05-2011. ANNEXURE TO THE AUDITORS REPORT.: Re: M/s.AADI INDUSTRIES LIMITED. Referred to in paragraph 3 of our report of even date, (i) (a) We have been informed that the Fixed Assets Register showing full particulars, including quantitative details and situation of Fixed Assets is to be maintained. (b) All the assets have not been physically verified by the management during the year but there is a programme of verification at the year end which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. (c) During the year, the Company has not disposed off any of the Plant & Machinery and hence has not affected the going concern status of the company. (ii) (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. (c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material. (iii) (a) The company has taken loans from two parties covered in the register maintained under section 301 of the Companies Act, 1956.The maximum amount involved during the year was 324.92 Lacs. & the year end balance of Loans Taken from such parties was 113.51. The Company has not granted any loans to parties covered in the register maintained Under 301 of the Companies Act, 1956, hence this clause is not applicable. (b) There are no interest free advances in the nature of loans to the employees which are being recovered / adjusted regularly. (c) There are no terms and conditions fixed on loans taken from the parties listed in the register maintained under section 301 of the Companies Act 1956 to that extent they are prejudicial to the interest of the Company. (iv) 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 the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. (v) (a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained Under Section 301 of the Companies Act, 1956 have been entered. (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at prices prevailing market prices at the relevant time on cash basis. (vi) According to the information and explanations given to us, the provisions of sections 58A and 58AA of the Companies Act, 1956, and the Companies (Acceptance of Deposits) Rules 1975 are not applicable to the company in the year under consideration. (vii) In our opinion and as per the explanations given to us, the company has an internal audit system commensurate with the size and nature of its business. (viii) As explained to us the Central Government has not prescribed any maintenance of cost record under section 209(1)(d) of the Companies Act, 1956 to the Industry Company. (ix) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues (except Income Tax) including provident fund, investor education protection fund, employees' state insurance, sales tax, wealth tax, custom duty, excise duty, cess and other material statutory dues applicable to it. (b) According to the information and explanations given to us, no undisputed amounts (except income tax) payable in respect of wealth tax, sales tax, custom duty, excise duty, cess were in arrears, as at 31-03-2011 for a period of more than six months from the date they became payable. (c) According to the information and explanation given to us, there are no dues of sales tax, income tax, customs duty, wealth tax, excise duty and cess, which have not been deposited on account of any dispute. (x) The Company has not incurred cash loss during the financial year covered by our audit and the immediately preceding financial year. (xi) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to financial institution. (xii) The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the company is not a chit fund or a nidhi mutual benefit fund / society. Therefore, the provisions of clause 4 (xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. (xiv) In our opinion the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. (xv) As per the information and explanations given to us the Company has not given guarantees for loans taken by others from bank or financial institutions. (xvi) In our opinion, the term loans are being applied for the purpose for which they were raised. (xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, no long-term funds have been used to finance short-term assets. (xviii) The company has not made preferential allotment of shares to Promoters covered in the register maintained under section 301 of the Act. (xix) The company has not received any money through Public Issue of Debentures. (xx) The Company has not received any money through preferential allotment of equity shares to non Promoters. (xxi) To the best of our knowledge and according to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit. For SUNDERJI GOSAR & CO. Chartered Accountants, (ALPESH K. SAVLA) PARTNER. M.No.047828 Firm Reg No 115543W Place: Mumbai Date : 30-05-2011

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard