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

Belapur Industries Ltd.

BSE: 507050 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE490D01019
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr)
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr)
Buy Price
Buy Qty
Sell Price
Sell Qty

Belapur Industries Ltd. (BELAPURINDS) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR

To

The Members of

Belapur Industries Ltd

Report on the Financial Statements

We have audited the accompanying financial statements of Belapur Industries Ltd ("theCompany") which comprise the Balance Sheet as at March 31 2014 and the Statementof Profit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant 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 involvesperforming procedures to obtain audit evidence about the amounts and disclosures in thefinancial statements. The procedures selected depend on the auditor's judgment includingthe assessment of the risks of material misstatement of the financial statements whetherdue to fraud or error. In making those risk assessments the auditor considers internalcontrol relevant to the Company's preparation and fair presentation of the financialstatements in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by management as well as evaluating theoverall presentation of the financial statements. We believe that the audit evidence wehave obtained is sufficient and appropriate to provide 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 2014;

(b) in the case of the Profit and Loss Account of the profit/loss 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")issued by the Central Government of India in terms of sub-section (4A) of section 227 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 4 and5 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;

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;

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

e. on the basis of written representations received from the directors as on March 312014 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2014 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956.

f. Since the Central Government has not issued any notification as to the rate at whichthe cess is to be paid under section 441A of the Companies Act 1956 nor has it issued anyRules under the said section prescribing the manner in which such cess is to be paid nocess is due and payable by the Company.

For N.S Naik & Co.

Chartered Accountants

F.No. 106815W

CA M.P Naik

M.No.144531

Partner

Shrirampur

Date:- 29/05/2014

Place:- Shrirampur

ANNEXURE TO THE AUDITORS REPORT

On the basis of such checks as we considered appropriate and in terms of theinformation and explanations given we state that:-

I) a) The Company has generally maintained records showing particulars includingquantitative details and situation of fixed assets; as stated by management but no recordsavailable for verification.

b) None of the fixed assets have been revalued during the year.

ii) a) There is no Physical verification in respect of finished goods stores spareparts and raw materials as there was no stock of the same with the Company during theyear.

b) Inventory records is not maintained as there was no physical stocks during the year.

c) It is explained that General Insurance Companies are reluctant to insurecrops/agricultural trees.

iii) a) According to information and explanations given to us the Company has takenloans from parties listed in the Register maintained under Section 301 of the CompaniesAct 1956. The terms and conditions of these loans are not prima facie prejudicial to theinterest of the Company.

b) The company has not granted any loans secured or unsecured to Companies Firms orother Parties listed in the Register maintained under Section 301 of the Companies Act1956 or to the Companies under the same management as defined under section 370 1-B of theCompanies Act 1956.

c) The Other Loans and Advances in the nature of loans have not been recovered asstipulated. The Company has filed suits and has taken steps for recovery as stated in Note4.

iv) No internal control procedures is necessary as the Company is not doing anybusiness of manufacturing or trading thus the purchase of stores machinery equipment andother assets and sale of goods is not affected by the Company during the year.

v) a) On the basis of audit procedures performed by us and according to theinformation explanations and the representations given to us we are of the opinion thatthe transactions in which Directors were interested and which were required to be enteredin the Register maintained under Section 301 of the Companies Act1956 have been soentered.

b) In our opinion and according to information and explanations given to us notransaction is made in pursuance of contracts or arrangements entered in the Registermaintained under Section 301 of the Companies Act1956 exceeding the value of rupees fivelacs.

vi) In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public during the year nor has acceptedany such deposits in the past.

vii) In our opinion and according to the information given to us the Company has not aninternal audit system commensurate with the size and nature of business.

viii) According to the information and explanations given to us the Central Governmenthas not prescribed the maintenance of cost records under Section 209 (1) (d) of theCompanies Act 1956 for the products of the Company.

ix) The Company has not deposited Provided Fund dues with the appropriate authoritiesduring the year as the staff of the company is less than the required number.

x) On the basis of records examined by us and the information and explanations given tous the Company has no of dues payable to financial institutions or Banks.

xi) As explained to us the Company has not granted any Loan or Advances on basis ofsecurity by way of pledge of shares debentures or any other securities.

xii) The requirement of this clause is not applicable as the Company is not a ChitFund Company.

xiii) The requirement of this clause is not applicable as the Company is not dealing ortrading in shares securities debentures and other investment.

xiv) According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from Banks of Financial Institutions.

xv) The term loans have not been raised by the Company and thus application for thepurpose for which they were raised is immaterial.

xvi) According to information and explanations given to us and on an overallexamination of the Balance Sheet of the Company we report that no funds raised onshort-term basis have been used for long term investment or vice versa.

xvii) 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 Act 1956.

xviii) According to the information and explanations given to us the Company has notraised any money by way of public issue during the year.

xix) According to the information and explanations given to us no fraud on or by theCompany has been noticed or reported during the course of our audit.

For N.S. Naik & Co. CA. M.P. Naik
Chartered Accountants M.No.144531
F.No. 106815W Partner
Shrirampur
Date:-29/05/2014
Place:- Shrirampur

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