You are here » Home » Companies » Company Overview » Bombay Potteries & Tiles Ltd

Bombay Potteries & Tiles Ltd.

BSE: 502216 Sector: Infrastructure
NSE: N.A. ISIN Code: N.A.
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

Bombay Potteries & Tiles Ltd. (BOMBAYPOTTERIES) - Auditors Report

Company auditors report

BOMBAY POTTERIES AND TILES LIMITED ANNUAL REPORT 2011-2012 AUDITORS' REPORT To The members of BOMBAY POTTERIES & TILES LIMITED 1. We have audited the attached Balance Sheet of BOMBAY POTTERIES & TILES LIMITED as at 31st March, 2012, 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 these financial statements based on our audit. 2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes 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. 3. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956 (hereinafter referred to as the 'Act'), we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order, to the extent applicable. 4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that: - a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit. b) 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 the books. c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. d) In our opinion, the Balance Sheet, Profit & 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 Act, to the extent applicable. e) On the basis of the written representations received from the directors as on 31st March, 2012 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2012 from being appointed as a director of the Company in terms of Section 274 (1) (g) of the Act. f) The Company has not complied with the provisions of Section 80 of the Act inasmuch as that it has neither redeemed the 12% Cumulative Preference Shares amounting to Rs.19,00,000 (cumulative dividend thereon: Rs.22,80,000), nor taken approval from Company Law Board to extend the period of redemption, (Refer Note No. 18 (a)). g) Subject to the matters referred to at paragraph 4 (f) above, in our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the significant accounting policies and other notes thereon and those appearing elsewhere in the accounts, give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012; ii) in the case of the Profit & Loss Account, of the loss of the Company for the year ended on that date; and iii) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. For ANIL JAYKANT & CO. Firm Registration No.; 100437W Chartered Accountants ANIL J. SHAH Proprietor (Membership No. 11584) Place: Mumbai, Dated: 30th August,2012 ANNEXURE REFERRED TO IN PARAGRAPH 3 OF AUDITORS' REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31ST MARCH, 2012 OF BOMBAY POTTERIES & TILES LIMITED. On the basis of such checks as we considered appropriate and according to the information and explanations given to us during the course of audit, we state that: 1. (i) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (ii) The physical verification of fixed assets was carried out during the year, which, in our opinion, is reasonable considering the size of the Company and the nature of its assets. No discrepancies were noticed on such verification. (iii) No substantial/major part of fixed assets has been disposed off during the year. 2. As informed the Company does not have any inventory and as such, Clause 4 (ii) (a) to 4 (ii) (c) of the Companies (Auditor's Report) Order, 2003 (as amended) are not applicable 3. a) The Company has not granted any loans, secured or unsecured, to Companies, firms or other parties covered in the register maintained under Section 301 of the Act. b) The Company has taken unsecured interest free loan from one director covered in the Register maintained under Section 301 of the Act and there are no terms and conditions specified in the said loan. The maximum amount involved during the year was Rs 10562026 as at 31.03.2012 and the year end balance was Rs 10562026. Thus the terms and conditions are not prima facie prejudicial to the interest of the Company. 4. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business. During the course of our audit, no major weaknesses have been noticed in the internal control system. 5. According to information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in the register required to be maintained under that Section. In our opinion and according to the information and explanation given to us. There are no transactions made in pursuance of such contracts or arrangements exceeding value of rupees five lakhs entered into during the financial year. 6. The Company has not accepted any deposits within the meaning of the section 58A, 58AA or any other relevant provisions of the Act and rules framed there under. 7. The Company does not have any formal internal audit system, However, as explained to us, effective internal control is being exercised departmentally. 8. (i) The Company is generally regular in depositing undisputed statutory dues including Provident fund, Investor Education and Protection Fund, Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other statutory dues applicable to the Company with appropriate authorities. No undisputed amounts payable in respect of the aforesaid statutory dues were outstanding as at the last day of the financial year for a period of more than six months from the date they became payable. (ii) According to the records of the Company, there are no dues of Income Tax, Sales Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty, and Cess which have not been deposited on account of any dispute. 9. In our opinion, the accumulated losses as at 31st March, 2012 of the Company are less than fifty percent of its net worth. The Company has incurred cash losses during the financial year and in the immediately preceding financial year. 10. According to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 11. According to the information and explanation given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. 12. The Company has not raised any term loan during the year. 13. According to the information and explanations given to us and on an overall examination of the cash flow statement and the balance sheet of the Company, in our opinion, the funds raised on short term basis have, not been used for long term investment. 14. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act. 15. The Company has not issued any debentures during the year. 16. The Company has not raised any money by way of pubic issue during the year, 17. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or repotted during the year, nor have we been informed of such case by the management. For ANIL JAYKANT & CO. Firm Registration No.; 100437W Chartered Accountants ANIL J. SHAH Proprietor (Membership.No. 11584) Place: Mumbai Dated: 30th August, 2012

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