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ABC India Ltd.

BSE: 520123 Sector: Others
NSE: N.A. ISIN Code: INE125D01011
BSE LIVE 15:40 | 06 Dec 93.20 4.50
(5.07%)
OPEN

92.80

HIGH

95.00

LOW

92.60

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 92.80
PREVIOUS CLOSE 88.70
VOLUME 1628
52-Week high 114.80
52-Week low 70.00
P/E
Mkt Cap.(Rs cr) 50.51
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 92.80
CLOSE 88.70
VOLUME 1628
52-Week high 114.80
52-Week low 70.00
P/E
Mkt Cap.(Rs cr) 50.51
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

ABC India Ltd. (ABCINDIA) - Auditors Report

Company auditors report

INDEPENDENT AUDITORS

To The Members of

ABC INDIA Limited

Report on the Financial Statements

We have audited the accompanying financial statements of ABC India Limited ("the"Company") which comprise the Balance Sheet as at March 31 2013 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in sub-section (3C) ofsection 211 of the Companies Act 1956 ("the Act"). This responsibility includesthe design implementation and maintenance of internal control relevant to the preparationand presentation of the financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

(a) in the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2013;

(b) in the case of the Statement of Profit and Loss of the profit for the year endedon that date; and

(c) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2003 ("the Order")as amended issued by the Central Government of India in terms of sub-section (4A) ofsection 227 of the Act we give in the Annexure a statement on the matters specified inparagraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act we report that :

(a) we have obtained all the information and explanations which to the best of ourknowledge 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 theCompany so far as appears from our examination of those books and proper returns adequatefor the purpose of our audit have been received from branches not visited by us;

(c) the Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account and with the returns receivedfrom branches not visited by us;

(d) in our opinion the Balance Sheet Statement of Profit and Loss and Cash FlowStatement comply with the Accounting Standards referred to in sub- section (3C) of section211 of the Companies Act 1956;

(e) on the basis of written representations received from the directors as on March 312013 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2013 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956.

For AGARWAL KEJRIWAL & CO.
Chartered Accountants
Firm’s Registration No. 316112E
M. Agarwal
Place : Kolkata Partner
Date : 25th May 2013 Membership No. 52474

ANNEXURE

Re: ABC INDIA LIMITED

(Referred to in paragraph 1 on report on other Legal and Regulatory Requirements in ourreport of even date on Balance Sheet as at March 31 2013 and Statement of Profit and Lossfor the year ended on that date.)

(i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) All the assets have not been physically verified by the management during the yearbut there is a regular programme of verification which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets. No materialdiscrepancies were noticed on such verification.

(c) During the year the Company has disposed off certain fixed assets which in ouropinion and according to the information and explanations given to us are not asubstantial portion of its Fixed Assets and as such the disposal of such fixed assets hasnot 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 managementare reasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

(c) The Company is maintaining proper records of inventory. The discrepancies noticedon verification between the physical stocks and the book records were not material.

(iii) (a) The Company has not granted any loan secured or unsecured to CompaniesFirms or other parties covered in the register maintained under section 301 of the Act.Therefore the provisions of sub clause(b) to (d) to clause (iii) are not applicable tothe Company.

(e) The Company has not taken any loan secured or unsecured from Companies Firms orother parties covered in the register maintained under section 301 of the Act. Thereforethe provisions of sub clause (f) and (g) of clause (iii) are not applicable to theCompany.

(iv) In our opinion and according to the information and explanations given to usthere exist an adequate internal control system commensurate with the size of the companyand the nature of its business for purchases of inventory fixed assets and with regard tothe sale of goods and services. During the course of our audit we have not observed anycontinuing failure to correct major weaknesses in internal control system of the Company.

(v) (a) According to the information and explanations given to us we are of theopinion that the particulars of contracts or arrangements referred to in section 301 ofthe Companies Act 1956 that need to be entered in the register maintained under thatsection have been so entered.

(b) In our opinion and according to the information and explanations given to us thetransactions made in pursuance of contracts or arrangements entered in the registermaintained under Section 301 of the Companies Act 1956 and exceeding the value of thefive lakhs rupees in the financial year in respect of any party; have been made at priceswhich are reasonable having regard to the prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanations given to us thecompany has complied with the directives issued by the Reserve Bank of India & theprovisions of section 58A of the Companies Act 1956 and the Companies (Acceptance ofDeposit) Rules 1975. Since the Company has not defaulted in repayment of depositscompliance of section 58AA or obtaining any order from the National Company Law Tribunaldoes not arise.

(vii) In our opinion the Company has an internal audit system commensurate with thesize and nature of its business.

(viii) Maintenance of cost records has not been prescribed by the Central Governmentunder clause (d) of sub section (1) of section 209 of the Companies Act 1956.

(ix) (a) The Company is generally regular in depositing undisputed statutory duesincluding Provident Fund Investors Education and Protection Fund Employee's StateInsurance Income Tax Sales Tax Wealth Tax Service Tax Custom Duty Excise Duty Cessand any other statutory dues applicable to it with the appropriate authorities. Noundisputed amounts payable in respect of aforesaid dues were outstanding as at 31st March2013 for a period of more than six months from the date they become payable.

(b) According to the information and explanations given to us there are no materialdues on account of Income Tax Sales Tax Wealth Tax Service Tax Custom Duty Exciseduty Cess and any other statutory dues that have not been deposited with appropriateauthorities on account of any dispute.

(x) The Company has no accumulated losses at the end of the financial year and it hasnot incurred cash loss in such financial year and in the immediately preceding financialyear.

(xi) In our opinion and as per information and explanations given to us the Companyhas not defaulted in repayment of dues to financial institutions or banks and it has nodebenture holders.

(xii) In our opinion and as per information and explanations given to us the Companyhas not granted loans and advances on the basis of security by way of pledge of sharesdebentures and other securities.

(xiii) As per information and explanations given to us the Company is not a chit fundor a Nidhi or a mutual benefit fund/society.

Therefore the provisions of clause (xiii) are not applicable to the Company.

(xiv) As per information and explanations given to us the Company is not dealing in ortrading in shares securities debentures and other investments. Accordingly theprovisions of clause (xiv) are not applicable to the Company.

(xv) In our opinion terms and conditions on which the Company has given guarantees forloan or other facilities taken by others from banks or financial institutions areprima-facie not prejudicial to the interest of the Company.

(xvi) According to information and explanations given to us term loans were applied forthe purpose for which they were obtained (xvii) According to the information andexplanations given to us and on an overall examination of the Balance Sheet of theCompany funds raised on short-term basis have not been used for long-term investment.

(xviii) According to the information and explanations given to us the Company has notmade any preferential allotment of shares to parties and companies covered in the Registermaintained under section 301 of the Companies Act1956.

(xix) The Company had no outstanding debentures in the year. (xx) The Company has notraised any money by public issues.

(xxi) To the best of our knowledge and belief and according to the information andexplanations given to us no significant fraud on or by the Company was noticed orreported during the year.

For AGARWAL KEJRIWAL & CO.
Chartered Accountants
Firm’s Registration No. 316112E
M. Agarwal
Place : Kolkata Partner
Date : 25th May 2013 Membership No. 52474

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