ANNUAL REPORT 1998-99
CSJ AGROS LIMITED
1. we report that we have audited the attached Balance Sheet of CSJ AGROS
LIMITED as at 31st March, 1999 for the year ended on that date, which we
have signed under reference to this report.
2. We have obtained all the information and explanations which to the best
of our knowledge and belief, were necessary for our audit, in our opinion,
proper books of account have been kept as required by law so far as appears
from our examination of the books and the above mentioned accounts are in
3. In our opinion and to the best of our information and according to the
explanations given to us, the Balance Sheet with the notes thereon and
attached thereto, give in the prescribed manner the information required by
the Companies Act, 1956, and also give respectively, subject to our remarks
in paragraph 4 given below, a true and fair view of the state of the
Company's affairs as at 31st March, 1999 for the year ended on that date.
4. As required by the manufacturing & other Companies (Auditors Report)
Order, 1988 dated 7th September, 1988, issued by the Central Government and
on the basis of such checks as we considered appropriate and according to
the information and explanations given to us, we further report that:
4.1 The company is maintaining proper records to show full particulars,
including quantitative details and situation of its fixed assets and these
fixed asset have been physically verified at reasonable intervals during
the year by the management and no discrepancies were noticed on such
4.2 None of the Fixed assets have been revalued during the year.
4.3 The Company has not accepted any loans from the parties listed in the
register maintained under section 301 of the Companies Act 1956 and /or
from the Companies under the same management as defined sub-section (1-B)
of section 370 of the Companies Act, 1956.
4.4 The Company has not granted loans and /or advances on the basis of
security by way of pledge of shares, debentures and other similar
4.5 There is adequate internal control procedure commensurate with the
size of the company and the nature of its business for purchase of goods
and assets and for sale of goods.
4.6 In our opinion and according to the information and explanation given
to us there are no transactions of purchases of goods and sale of goods,
materials and services made in pursuance of contracts or arrangements
entered in the register maintained under section 301 of the Companies Act,
1956 and aggregating during the year Rs. 50000/- or more in respect of each
4.7 The Company has not accepted any deposits from public during the year
in excess of the limits prescribed u/s 28A of the Companies Act.
4.8 The Provisions of Paragraph 4 (A) (X IV), 4(A) (XV) and 4(A) (XVI) of
the order are not applicable.
4.9 There are no dues under Provident Fund Acts and Employees State
4.10 There are no undisputed amounts payable in respect of income tax,
wealth tax, sales tax, customs duty and excise duty as at 31st March,1999
which are outstanding for a period of more than six months from the date
they became payable.
4.11 The Company is not a sick Company within the meaning of clause (o) of
section 3(1) of the Sick Industrial Companies (Special Provisions) Act,
Hyderabad For M.R.K. REDDY & CO.
(M. RAMAKRISHNA REDDY)
2nd September, 1999 Partner