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Centenial Surgical Suture Ltd.

BSE: 531380 Sector: Health care
NSE: N.A. ISIN Code: INE405H01018
BSE LIVE 14:13 | 08 Dec 84.00 0
(0.00%)
OPEN

80.00

HIGH

84.00

LOW

79.80

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 80.00
PREVIOUS CLOSE 84.00
VOLUME 251
52-Week high 100.00
52-Week low 34.75
P/E 18.96
Mkt Cap.(Rs cr) 30.66
Buy Price 79.80
Buy Qty 107.00
Sell Price 84.00
Sell Qty 49.00
OPEN 80.00
CLOSE 84.00
VOLUME 251
52-Week high 100.00
52-Week low 34.75
P/E 18.96
Mkt Cap.(Rs cr) 30.66
Buy Price 79.80
Buy Qty 107.00
Sell Price 84.00
Sell Qty 49.00

Centenial Surgical Suture Ltd. (CENTENIALSURGIC) - Auditors Report

Company auditors report

CENTENIAL SURGICAL SUTURE LIMITED ANNUAL REPORT 2011-2012 AUDITORS' REPORT To the Members of CENTENIAL SURGICAL SUTURE LIMITED 1. We have audited the attached Balance Sheet of CENTENIAL SURGICAL SUTURE LIMITED as at March 31, 2012, the Profit and Loss Account and the Cash Flow statement for the year ended on that date, both 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 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 Section 227 (4A) of the Companies Act, 1956, we enclose in the Annexure statement on the matters specified in paragraphs 4 & 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: i) 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; ii) 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; iii) the books of the branches have been submitted to us and the same have been audited and considered by us in preparing this report; iv) the Balance Sheet and Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of accounts; v) in our opinion, the Balance Sheet, the Profit and 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 Companies Act, 1956. vi) on the basis of written representation received from the Directors, as on March 31,2012 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as at March 31,2012 from being appointed as a Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956. vii) in our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2012; b) in the case of the Profit & Loss Account, of the profit for the year ended on that date; c) in the case of the Cash Flow statement, of the cash flows for the year on that date. for, VIPUL N. SHAH & ASSOCIATES Chartered Accountants Firm Registration No. 111547W Vipul N. Shah Mumbai Proprietor August 13, 2012 Membership No.: 40346 ANNEXURE TO THE AUDITOR'S REPORT OF CENTENIAL SURGICAL SUTURE LIMITED ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE. In respect of its fixed assets: a) The Company has maintained proper records to show full particulars including quantitative details and situation of its fixed assets. b) Some of the fixed assets have been physical verified during the year by the management in accordance with a programme of verification, which in our opinion provides for physical verification of all the fixed assets of the Company at reasonable intervals having regards to the size of the Company and the nature of its assets. According to the information and explanation given to us no material discrepancies were noticed on such verification. c) The fixed assets disposed off during the year, in our opinion, do not constitute a substantial part of the fixed assets of the Company and such disposal has, in our opinion, not affected the going concern status of the Company. In respect of its inventories: a) As explained to us, the inventories of finished and semi-finished goods and raw materials were physically verified during the year by the Management. In respect of stores and spare parts and stock lying with consignment agents, the Company has a programme of physical verification of stocks at reasonable interval. b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. c) In our opinion and according to the information and explanations given to us, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification between the physical stock and book records were not material. a) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms and other parties covered in the register maintained under Section 301 of the Companies Act, 1956. In view of this, clauses (iii) (b, c and d) are not applicable to the Company. e) According to the information and explanations given to us, the Company has taken loans, secured or unsecured, from companies, firms and other parties covered in the register maintained under Section 301 of the Companies Act, 1956. f) The rate of interest and other term and conditions of loans taken by the Company, secured or unsecured, are prima facie not prejudicial to the interest of the Company. g) The payment of interest amount and principle amount are as stipulated. In our opinion and according to the information and explanations given to us, there is an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods and we have not observed any continuing failure to correct major weaknesses in such internal control system. In respect of contracts or arrangements entered by the companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956 : a) According to the information & explanations provided by the management, we are of the opinion that the transactions that needed to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered. b)In our opinion and according to the information and explanations given to us, the transaction with the parties with whom transactions exceeding value of Rs.5,00,000 have been entered into during the financial year are reasonable having regard to the prevailing market prices at the relevant time. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public. In our opinion, the Company has an internal audit system commensurate with the size and the nature of its business. We have broadly reviewed the books of accounts maintained by the company pursuant to the rules prescribed by the Central Government for maintenance of cost records under Section 209(1 )(d) of the Companies Act,1956 and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination of the records. ix) In respect of Statutory dues: a) According to the information and explanations given to us, the Company has been generally regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Income Tax, Sales Tax, Customs Duty, Excise Duty, Cess and other statutory dues applicable to it with appropriate authorities during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Sales Tax and Customs Duty were outstanding, at the year end for a period of more than six months from the date they became payable. b) According to the records of the Company, there are no dues in respect of Sales Tax, Custom Duty, Excise Duty and Income Tax under the Income Tax Act, 1961 ('IT Act') on account of any dispute except Rs. 12,913/- for Assessment Year 2003-2004 under the Income Tax Act, 1961 for excess interest charged. The case is pending with the Assistant Commissioner of Income Tax. x) The Company does not have any accumulated losses and has not incurred any cash losses during the financial year covered by our audit and the immediately preceding financial year. xi) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institution or bank. xii) According to the information and explanations given to us and based on the documents and records produced before 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. xiii) As per the present business activities of the Company, the requirements of Clause 4 (xiii a, b, c and d) are not applicable to the Company. xiv) As per the present business activities of the Company, the requirements of Clause 4 (xiv) is not applicable to the Company. xv) According to the information and explanations given to us, the Company has not given any guarantee for loans take i by others from bank or financial institution. xvi) According to the information and explanations given to us, no term loans have been taken during the year hence, the purpose for which the loans were applied is not applicable to the Company. xvii) According to the information and explanations given to us and on the overall examination of the Balance Sheet and Cash flow statement of the Company, funds raised on short-term basis have prima-facie not been used during the year for long-term investment. xviii) The Company has not made any preferential allotment of shares during the year. xix) During the period covered by our audit report, the Company has not raised any money by public issue. xx) To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year. for, VIPUL N. SHAH & ASSOCIATES Chartered Accountants Firm Registration No. 111547W Vipul N. Shah Mumbai Proprietor August 13, 2012 Membership No.: 40346

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