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Accurate Exports Ltd.

BSE: 531905 Sector: Others
NSE: N.A. ISIN Code: INE062B01010
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
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Accurate Exports Ltd. (ACCURATEEXPORTS) - Auditors Report

Company auditors report

ACCURATE EXPORTS LIMITED ANNUAL REPORT 2000-2001 AUDITORS' REPORT To, The Shareholders, Accurate Exports Ltd. We have audited the Annexed Balance Sheet of Accurate Exports Ltd. as on 31st March, 2001 and the Profit & Loss Account of the Company for the year ended on that date annexed thereto and report that: 1. As required by the Manufacturing and other companies (Auditor's Report) Order 1988 issued by the Company Law Board in terms of Section 227 (4A) of the Companies Act, 1956. We enclose in the annexure a statement on the matters specified in paragraph 4 and 5 of the said order. 2. 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. 3. In our opinion proper books of accounts as required by Law have been kept by the Company so far as it appears from our examination of the Books. 4. The Balance Sheet and Profit & Loss Account dealt with by this Report are in agreement with the Books of Accounts. 5. In our opinion and to the best of our information and according to the explanation given to us, the Accounts read with notes forming part of Accounts give the information required under the Companies Act, 1956, in the manner so required and give a true and fair view: a) In case of the Balance Sheet of the State of Affairs of the Company as on 31st March, 2001; b) In the case of Profit & Loss Account of the loss for the year ended on that date. 6. On the basis of written representation received from the director as on 31st March, 2001 and taken on record by the board of tire directors, We report that none of the director is disqualified as on 31st March, 2001 from being appointed as a director in term of clause (g) of sub-section(1) of section 274 of the Companies Act, 1956. For, NIMESH M. SHAH & CO. Chartered Accountants Sd/- Date : 07.08.2001 (NIMESH M. SHAH) Place: Ahmedabad PROPRIETOR ANNEXURE REFEREED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE (1) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The physical verification of Fixed Assets has been carried out at the end of the year by the management and no material discrepancies were noticed on such verification as compared to the aforesaid records. (2) None of the Fixed Assets have been revalued during the year. (3) As explain to us company has no opening and closing stock during the year. (4) The company has not taken any loans to companies, Firms and other Parties listed in the register maintained under section 301 of the Companies Act, 1956 and there are no companies under the same management as defined under section 370(1B) of the Companies Act, 1956. (5) The company has not granted any loans,to companies, Firms and other Parties listed in the register maintained under section 301 of the Companies Act, 1956 and there are no companies under the same management as defined under section 370(1B) of the Companies Act, 1956. We have been informed that company has given interest free Loans & Advances during the year but they are not prejudicial to company. (6) We have been informed that its respect of the loans and advances in the nature of loans given by the company to parties, they are generally repaying the principal amount as stipulated/rescheduled and are also generally regular in payment of interest whatever stipulated/rescheduled. We have been informed that all loans and advances in the nature of loans are good. (7) In our opinion and according to the Information and explanations given to us, there are adequate internal control procedures commensurate with then size of the Company and the nature of its business with regard to the purchase of goods and other fixed assets, and for the sale of same. (8) According to the information and explanation given to us, the company has not entered into transaction of sale or purchase of goods exceeding Rs.50000 in pursuance of the contract or arrangements entered in the register maintained under section 301 of the Companies Act, 1956. (9) The company has not accepted any deposit from public during the year. (10) In our opinion, the company has not internal audit system commensurate with its size and nature of its business. (11) The company is not required to maintain records under section 209(1)(d) of the Companies Act, 1956. (12) As informed to us the Provident Fund Act and Employees' State Insurance Act are not applicable to the company during the year under review. (13) According to the information and explanation given to us,there were no undisputed amount payable in respect of Income tax, Wealth tax, Sales tax, Customs and Excise Duty which have remained outstanding as at 31st March, 2001 for a period of more than six months from the date they become payable. (14) According to the information and explanation given to us and the records examined by us, no personal expenses have been charged to revenue; account other than those payable under contractual obligations or in accordance with generally accepted business practice. (15) The Company is not a sick industrial Company within the meaning of clause (O) of Sub-Section(1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985. (16) Proper records have been maintained and truly entries have been made there in of the transactions and contracts relating to dealing or trading in Shares, Securities, Debentures, and other Investments. We have been informed that all the investments are held in the name of the company. (17) The Company has not granted loans and advances on the basis of Security by way of pledge of Shares, Debentures and other similar Securities. (18) We are informed that the Provisions of any special statute applicable to Chit fund, Nidhi or Mutual Benefit society do not apply to the company. (19) Other Provisions of said Orders are not applicable to company. For, NIMESH M. SHAH & CO. Chartered Accountants Sd/- Date : 07.08.2001 (NIMESH M. SHAH) Place: Ahmedabad PROPRIETOR

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