DO-MAX STEEL LIMITED
The Members of DO-MAX STEEL LTD
We have audited the attached Balance Sheet of DO-MAX STEEL LIMITED as at 31st
March 1994 and the annexed Profit & Loss Account of the Company for the year
ended on that date and 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 accounts as required by law have been kept
by the Company so far as appears from our examination of the books:
(c) The Balance Sheet and Profit and Loss Account dealt with by this report
are in agreement with the books of account:
(d) a) According to the records of the Company Excise Duty, on goods
processed of various customers and removal of the same from hctory premises
of the company without permission formalities to be taken/followed of Excise
Authority, is estimated at Rs. 10.45 lacs not provided so far.
(b) Accounts/Balances of all parties are as per books of Account and no
confirmations have been made/called so hr.
(c) Reference is also invited to para 17 and 20 of Annexure to our Report.
(d) i) Reference is invited to Non-Compliance with the provisions of section
297 of the companies Act, 1956 in respect of sale of machinery to a company
in which some directors are intrested and the companies (Appointment and
qualifications of secretary) Rules, 1988.
(ii) Subject to the above in our opinion and to the best of our information
and according to the explanations given to us the accounts read together with
the notes thereon give the information required by the Companies Act, 1956,
in the manner so required and give a true and fair view:
(i) In the case of Balance Sheet of the state of affairs of the Company as
at 31st March, 1994.
(ii) In the case of Profit and Loss Account of the loss for the year ended on
For Akshay Shah & Co.
A. N. Shah
29th November, 19944