AKASH AGENCIES LIMITED
ANNUAL REPORT 1999-2000
AUDITORS' REPORT TO THE SHAREHOLDERS OF AKASH AGENCIES LIMITED.
We have audited the attached Balance Sheet of Akash Agencies Limited as at
31st March, 2000 and also the annexed Profit & Loss Account of the Company
for the year ended on that date and report that
1. 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.
2. 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 those books.
3. (a) The Balance Sheet and Profit & Loss Account dealt with by the report
are in agreement with the books of account.
(b) In our opinion the Profit and Loss Account and the Balance Sheet,
comply with accounting standards referred to in Section 211(3C) of the
4. In our opinion and to the best of our information and according to the
explanations given to us, the Accounts read with other notes thereon, give
the information as required by the Companies Act, 1956 in the manner so
required and on such basis give a true and fair view
a) In the case of Balance Sheet of the state of affairs of the Company as
at 31st March,2000 and
b) In the case of the Profit & Loss Account, of the Profit for the year
ended on that date.
As required by the Manufacturing and Other Companies (Auditors' Report)
Order, 1988 issued by the Government of India and on the basis of such
checks as considered appropriate and as per the information and
explanations given to us we further state that
a) The Company does not have any Fixed Assets at the close of the year.
b) There was no closing stock at the end of the year.
c) The Company has not taken any loan from Companies, Firms or other
parties mentioned in the register maintained under section 301 of the
Companies Act, 1956. There is no Company under the same management as
defined under section 370(1B) of the Companies Act, 1956.
d) In respect of Loan of Rs.5.18 lacs given to a party in the previous
year, there are no stipulations regarding repayment of principal and
payment of interest.
e) The Company has not accepted any deposits from the public.
f) The Provident Fund Act and Employees' State Insurance Act are not
applicable to the Company.
g) According to the information and explanations given to us , there are no
undisputed amounts 'payable in respect of Income-tax, Wealth-tax, Sales-
tax, Custom Duty and Excise Duty outstanding for a period of more than 6
months as at 31st March, 2000 from the date they became payable.
h) According to the information and explanations given to us , no personal
expenses have been charged to revenue account.
i) The Company is not , sick industrial company within the meaning of
Clause (0) of sub-section (1) of Section 3 of the Sick Industrial Companies
(Special Provisions) Act, 1985.
j) In our opinion Clause (ii), (iv), (v),(vi), (vii),(viii), (x), (xi),
(xii), (xiv), (xv), (xvi) of part 4(A) and Clause (ii) of part 4(c) of the
order are not applicable to the Company.
For & on behalf of
K.P. JOSHI & Co.
29TH JUNE, 2000.