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Bothra Metals & Alloys Ltd.

BSE: 535279 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE583M01012
BSE LIVE 10:44 | 09 Nov Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 19.00
PREVIOUS CLOSE 20.00
VOLUME 4000
52-Week high 38.55
52-Week low 19.00
P/E
Mkt Cap.(Rs cr) 35.19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 19.00
CLOSE 20.00
VOLUME 4000
52-Week high 38.55
52-Week low 19.00
P/E
Mkt Cap.(Rs cr) 35.19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bothra Metals & Alloys Ltd. (BOTHRAMETALS) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR

To the Members of

Bothra Metals & Alloys Limited.

We have audited the accompanying financial statements of Bothra Metals & AlloysLimited ("the Company") which comprise the Balance Sheet as at March 31 2014and the Statement of Profit and Loss and Cash Flow Statement for the year then ended anda summary 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") read with the GeneralCircular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respectof Section 133 of the Companies Act 2013. This responsibility includes the designimplementation and maintenance of internal control relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditors 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 theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well 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 at March31 2014;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2003("theOrder") issued by the Central Government of India in terms of sub-section(4A) of section 227 of the Act we give in the Annexure A statement on the mattersspecified in paragraphs 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

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 read with the General Circular 15/2013 dated 13th September2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act2013;

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.

For R T Jain & Co
Chartered Accountants
FRN : 103961W
(CA BANKIM R JAIN)
Partner
Mem No. : 139447
Mumbai 30th May 2014

ANNEXURE TO THE AUDITORS’ REPORT

Referred to in paragraph 1 of our report of even date on the accounts of the companyfor the year ended 31st March 2014.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

1. (a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us nofixed asset has been disposed during the year and therefore does not affect the goingconcern assumption.

2. (a) As explained to us inventories have been physically verified during the year bythe management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of stocks by the management as compared to book records.

3. (a) According to the information and explanations given to us and on the basis ofour examination of the books of account the Company has not granted any loans secured orunsecured to companies firms or other parties listed in the register maintained underSection 301 of the Companies Act 1956. Consequently the provisions of clauses iii (b)iii(c) and iii (d) of the order are not applicable to the Company.

(b) The Company has taken loan from parties covered under register maintained u/s. 301of the Companies Act 1956. No of parties – Eleven Maximum amount of loanoutstanding during the year – Rs. Two Crores Seventy Lacs Fifty Five Thousand onlyand the year end balance of loan taken - Rs. One Crore Thirty Nine Lacs Seventy Thousandonly.

(f) According to the information and explanation given to us and in our opinion therate of interest and other terms and conditions of loans taken by the Company secured orunsecured is not prima facie prejudicial to the interest of the company;

(g) The company is regular in repaying the principal amounts as stipulated and has beenregular in payment of interest.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories & fixed assetsand payment for expenses & for sale of goods. During the course of our audit no majorinstance of continuing failure to correct any weaknesses in the internal controls has beennoticed.

5. a) Based on the audit procedures applied by us and according to the information andexplanations provided by the management the particulars of contracts or arrangementsreferred to in section 301 of the Act have been entered in the register required to bemaintained under that section. b) In our opinion and according to the information andexplanations given to us the transactions made in pursuance of contracts or arrangementsentered in the register maintained under section 301 of the Companies Act 1956 exceedingthe value of Rs 5 lacs or more in respect of any party have been made at prices which arereasonable having regard to prevailing market prices wherever comparable prices areavailable at the relevant time.

6. The Company has not accepted any deposits from the public covered under section 58Aand 58AA of the Companies Act 1956.

7. As per information & explanations given by the management the Company has aninternal audit system commensurate with its size and the nature of its business.

8. We have broadly reviewed the books of account maintained by the Company in respectof products where pursuant to the rules made by the Central Government for the maintenanceof cost records under section 209(1) (d) of the Companies Act 1956 and are of the opinionthat prima facie the prescribed accounts and records have been maintained. We are notrequired to carry out and have not carried out a detailed examination of the records witha view to determine whether they are accurate or complete.

9. (a) According to the records of the company undisputed statutory dues includingProvident Fund Investor Education and Protection Fund Employees’ State InsuranceIncome-tax Sales-tax Wealth Tax Service Tax Custom Duty Excise Duty cess to theextent applicable and any other statutory dues have generally been regularly depositedwith the appropriate authorities. According to the information and explanations given tous there were no outstanding statutory dues as on 31st of March 2014 for aperiod of more than six months from the date they became payable except for the following:

Nature of Statutory Dues

Amount Involved

Service Tax on Foreign Bank Charges 18558/-
Professional Tax (Bhavnagar) 13900/-
Provident Fund 202946/-
VAT Payable 4123350/-

(b) According to the information and explanations given to us there is no amountspayable in respect of income tax wealth tax service tax sales tax customs duty andexcise duty which have not been deposited on account of any disputes except for thefollowing:

Nature of Dues Period to which the amount relates Forum where dispute is pending

Amount involved

Gujarat Commercial Tax 2006-07 Deputy Commissioner of Appeal (Bhavnagar) Rs. 946398/-
Central Excise 2012-13 The Commissioner of Central Excise Coimbatore Rs. 200000/-

10. The Company does not have any accumulated loss and has not incurred cash lossduring the financial year covered by our audit and in the immediately preceding financialyear.

11. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank or debenture holders.

12. According to the information and explanations given to us the Company has notgranted loans and advances on the basis of security by way of pledge of shares debenturesand other securities.

13. The Company is not a chit fund or a nidhi /mutual benefit fund/society. Thereforethe provision of this clause of the Companies (Auditor's Report) Order 2003 (as amended)is not applicable to the Company.

14. According to information and explanations given to us the Company is not tradingin Shares

Mutual funds & other Investments. Accordingly the provision of clause 4(xiv) ofthe Companies (Auditors’ Report) Order 2003 are not applicable to the Company.

15. According to the information and explanations given to us the Company has notgiven any guarantees for loan taken by others from a bank or financial institution.

16. Based on our audit procedures and on the information given by the management termloans have been applied for the purpose for which they were raised.

17. Based on the information and explanations given to us and on an overall examinationof the

Balance Sheet of the Company we report that no funds raised on short-term basis havebeen used for long-term investment by the Company.

18. The Company has not made any preferential allotment of shares during the year toparties covered in register maintained under section 301 of the Companies Act 1956.

19. The Company has no outstanding debentures during the period under audit.

20. The Company has not raised money by way of public issue during the year.

21. Based on the audit procedures performed and the information and explanations givento us we report that no fraud on or by the Company has been noticed or reported duringthe year.

For R T Jain & Co
Chartered Accountants
FRN : 103961W
(CA BANKIM R JAIN)
Partner
Mem No. : 139447
Mumbai 30th May 2014

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