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Ceeta Industries Ltd.

BSE: 514171 Sector: Others
NSE: N.A. ISIN Code: INE760J01012
BSE LIVE 12:51 | 08 Dec 7.79 -0.41
(-5.00%)
OPEN

7.79

HIGH

7.79

LOW

7.79

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.79
PREVIOUS CLOSE 8.20
VOLUME 139
52-Week high 9.13
52-Week low 3.55
P/E 5.19
Mkt Cap.(Rs cr) 11.30
Buy Price 7.79
Buy Qty 11.00
Sell Price 8.00
Sell Qty 50.00
OPEN 7.79
CLOSE 8.20
VOLUME 139
52-Week high 9.13
52-Week low 3.55
P/E 5.19
Mkt Cap.(Rs cr) 11.30
Buy Price 7.79
Buy Qty 11.00
Sell Price 8.00
Sell Qty 50.00

Ceeta Industries Ltd. (CEETAINDS) - Auditors Report

Company auditors report

TO THE MEMBERS OF CEETA INDUSTRIES LTD.

Report on the Financial Statements

We have audited the accompanying financial statements of CEETA INDUSTRIES LIMITED whichcomprise the Balance Sheet as at 31st March 2015 the Statement of Profit and Loss andthe Cash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management’s Responsibility for the Financial Statement

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 with respect to the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with the accounting principles generallyaccepted in India including the Accounting Standards specified under Section 133 of theAct read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibility alsoincludes the maintenance of adequate accounting records in accordance with the provisionsof the Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities selection and application of appropriate accountingpolicies making judgments and estimates that are reasonable and prudent and designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures 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 financial control relevant to the Company’spreparation of the financial statements that give a true & fair view in order todesign audit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company’s Directors as well as evaluating theoverall 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 on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:

(a) In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2015.

(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 & Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order2015 (the Order) issuedby the Central Government of India in terms of sub-section (11) of Section 143 of theCompanies Act 2013 we give in the Annexure a Statement on the matters specified inparagraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act we report that:

(i) We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes of our audit.

(ii) 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.

(iii) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this report are in agreement with the books of account.

(iv) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

(v) On the basis of written representations received from the directors as on 31stMarch 2015 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms of Section164(2) of the Act.

(vi) With respect to the other matters included in the Auditor’s Report and to thebest of our information and according to the explanations given to us:

(a) The Company does not have any pending litigations which would impact its financialposition.

(b) The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

(c) There is no amount required to be transferred to the Investor Education andProtection Fund by the Company.

For G. K. TULSYAN & COMPANY

CHARTERED ACCOUNTANTS

FIRM REGISTRATION NUMBER: 323246E

G.K. Tulsyan
PARTNER
Membership No. 50511
4 Gangadhar Babu Lane Kolkata-700012
Dated : the 30th day of May 2015

Annexure to the Auditor’s Report

(I) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) The fixed assets have been physically verified by the management during the year atreasonable intervals and no material discrepancies have been noticed on such verification.

(ii) (a) As informed to us the Company has conducted physical verification ofinventories at reasonable intervals;

(b) The procedures of physical verification of inventory followed by the management isreasonable and adequate in relation to the size of the company and the nature of itsbusiness;

(c) Company is maintaining proper records of inventory and no material discrepancieswere noticed on physical verification.

(iii) The Company has not granted any loans to body corporate covered in the Registermaintained under section 189 of the Companies Act 2013.

(iv) In our opinion and according to the information and explanation given to us thereare adequate internal control systems commensurate with the size of the company and thenature of the business. During the course of our audit no major mistakes has been noticedin the internal control.

(v) The Company has not accepted any deposits.

(vi) To the best of our knowledge and as explained the company is not engaged inproduction processing manufacturing or mining activities. Hence in our opinion theprovisions of sub-section (1) of section 148 of the Companies Act 2013 is not applicableto the company.

(vii)(a) According to the records of the company the company is regular in depositingundisputed statutory dues including income tax and other statutory dues applicable to itwith the appropriate authorities. According to the information and explanations given tous there are no undisputed amounts payable in respect of provident fund employees’state insurance income tax wealth tax service tax sales tax customs duty exciseduty value added tax and cess which were outstanding as at 31st March 2015 for a periodof more than six months from the date they became payable.

(b) The company has disputed the demands raised by the Sales Tax Department and thedetails of the same are given below:

Year of Dispute Forum Amount (Rs.)
1988-89 Orissa Sales Tax Tribunal Cuttack 2049049/-
1998-99 Rajasthan Tax Board Ajmer 793971/-

(c) There is no amount required to be transferred to the Investor Education andProtection Fund by the Company.

(viii) The Company has no accumulated losses at the end of the financial year. Thecompany has not incurred cash losses in current financial year or in the immediatelypreceding financial year.

(ix) Based on our audit procedures and the information and explanation given by themanagement the company has no dues to financial institution or bank or debenture holders.

(x) According to the information and explanation given to us the Company has not givenany guarantee for loans taken by others from bank or financial institutions.

(xi) The Company has not raised any term loans during the year.

(xii) Based on information and explanations furnished by the Management which havebeen relied upon by us there were no frauds on or by the Company noticed or reportedduring the year.

FOR G. K. TULSYAN & CO.

CHARTERED ACCOUNTANTS

FIRM REGISTRATION NUMBER: 323246E

G.K.Tulsyan

PARTNER

Membership No.50511

4Gangadhar Babu Lane Kolkata-700012

Dated : the 30th day of May 2015

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