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Expo Gas Containers Ltd.

BSE: 526614 Sector: Industrials
NSE: N.A. ISIN Code: INE561D01025
BSE LIVE 15:28 | 23 Nov 8.95 0.05
(0.56%)
OPEN

9.34

HIGH

9.34

LOW

8.65

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.34
PREVIOUS CLOSE 8.90
VOLUME 6051
52-Week high 14.29
52-Week low 7.51
P/E 55.94
Mkt Cap.(Rs cr) 17
Buy Price 8.70
Buy Qty 500.00
Sell Price 8.95
Sell Qty 45.00
OPEN 9.34
CLOSE 8.90
VOLUME 6051
52-Week high 14.29
52-Week low 7.51
P/E 55.94
Mkt Cap.(Rs cr) 17
Buy Price 8.70
Buy Qty 500.00
Sell Price 8.95
Sell Qty 45.00

Expo Gas Containers Ltd. (EXPOGASCONTAIN) - Auditors Report

Company auditors report

To

The Members

Expo Gas Containers Limited

1. We have audited the attached Balance Sheet of EXPO GAS CONTAINERS LIMITED as at 31slMarch 2015 and the related Profit and Loss Account for the year ended on that dateannexed thereto which we have signed under reference to this report. These financialstatements are the responsibility of the Company's Management. Our responsibility is toexpress an opinion on these financial statements based on our audit.

2. We have conducted our audit in accordance with auditing standards generally acceptedin India. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatements. Anaudit includes examining on a test check basis evidences supporting the amounts anddisclosures in the financial statements. An audit also includes assessing the accountingprinciples used and significant estimates made by the Management as well as evaluating theoverall financial statement presentation. We believe that our audit provides a reasonablebasis for our opinion.

3. As required by Companies (Auditors' Report) Order 2003 issued by Central Governmentof India in terms of Section (4A) of Section 227 Companies Act 1956 on the basis of suchchecks of the books and records of company as we considered appropriate and according tothe information and explanations given to us we give in the Annexure a statement on thematters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to in Paragraph 3 above we reportthat:

a) We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes 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 books.

c) In our opinion the Balance Sheet and Profit and Loss account dealt with by thereport are in agreement with the books of accounts.

d) On the basis of written representation 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 termsof Clause (g) of sub section (i) of Section 274 of the Act.

e) In our opinion subject to accounting treatment in respect of transactions discussedin the notes to the accounts viz: Note No:- 2.28 regarding non-provision of leaveencashment and gratuity liability the amount of which is unascertainable the BalanceSheet and Profit and Loss Account dealt with by this Report are in compliance with theaccounting standards referred to in section 211 (3C) of the Companies Act 1956 in so faras they apply to the Company.

f) In our opinion and to the best of our information and according to the explanationsgiven to us the said financial statements together with the notes thereon and attachedstatements given in the prescribed manner the information required by the Act and give atrue and fair view in conformity with the accounting principles generally accepted inIndia.

1. In the case of the Balance sheet of the state of affairs of the company as at 31stMarch 2015.

2. In the case of the Profit and Loss Account of the profit for the year ended on thatdate.

For Ketan N. Shah & Co.
Chartered Accountants
Place : Mumbai (K. N. SHAH)
Dated: 29.05.2015 Proprietor

ANNEXURE TO AUDITOR'S REPORT

(REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS' REPORT OF

EVEN DATE TO THE MEMBERS OF EXPO GAS CONTAINERS

LIMITED ON THE FINANCIAL STATEMENT FOR THE YEAR ENDED

31st MARCH 2015)

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

(b) The fixed assets of the company have been physically verified by the managementduring the year and no material discrepancies between the book records and the physicalinventory have been noticed. In our opinion frequency of verification is reasonable.

(c) In our opinion a substantial part of fixed assets has not been disposed off by thecompany during the year.

2. (a) Inventory has been physically verified by the management during the year. In ouropimon frequency of verification is reasonable.

(b) In our opinion the procedure of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the company and thenature of its business.

(c) On the basis of our examination of the inventory records in our opinion thecompany is maintaining proper records of inventory. The discrepancies noticed on physicalverification of inventory as compared to book records were not material.

3. The Company has taken unsecured loans from Companies firms and other partiescovered under section 301 of the Companies Act 1956 / section 189 of the Companies Act2013. The rate of interest and other terms and conditions of such loans are prima facienot prejudicial to the interest of the Company.

4. In our opinion there are adequate internal control procedures commensurate with thesize of the Company and the nature of its business for the purchase of inventory and fixedassets and for the sale of goods. Further on the basis of our examination of the booksand records of the Company carried out in accordance with the auditing standardsgenerally accepted in India we have not observed any continuing failure to correct majorweaknesses in the aforesaid internal control procedures.

5. a) In our opinion and according to the information and explanations given to ustransactions that need to be entered into the register in pursuance of section 301 of theCompanies Act 1956 / section 189 of the Companies Act 2013 have been entered in the saidRegister.

b) In our opinion and according to the information and explanations given to us thetransactions made in pursuance of contracts or arrangements entered in the Registermaintained under section 301 of the Companies Act 1956 / section 189 of the Companies Act2013 have been made at prices which are reasonable having regard to prevailing marketprices at the relevant time.

6. The Company has not accepted any deposits from the public.

7. In our opinion the Company has an internal audit system commensurate with the sizeand nature of its business.

8. The Central Government of India has not prescribed the maintenance of cost recordsunder clause (d) of sub-section (i) of Section 209 of the Companies Act 1956 / section 128read with section 148 of the Companies Act 2013 for any of the products of the Company.

9. According to the records of the Company examined by us in our opinion the Companyis generally regular in depositing undisputed statutory dues such as income tax sales taxwith the appropriate authorities in India.

10. The Company has no accumulated losses as at 31st March 2015 or in theimmediately preceding financial year.

11. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to its ankers. As at the Balance Sheetdate the Company does not have any outstanding debentures or dues to any debentureholders.

12. The Company has not granted any loans and advances on the basis of security by wayof pledge of shares debentures and other securities.

13. The provision of any special statute applicable to chit fund/nidhi/mutual benefitfund/societies are not applicable to the Company.

14. In our opinion the Company is not dealer or trader in shares securitiesdebentures and other investments.

15. The Company has not given any guarantee for loans taken by others from banks orfinancial institutions during the year.

16. On the basis of an overall examination of the Balance Sheet of the Company in ouropinion there are no funds raised on a shot-term basis which have been used for long-terminvestment and vice versa.

17. The Company has not made any preferential allotment of shares to parties andcompanies covered under Section 301 of the Companies Act 1956 / section 189 of theCompanies Act 2013 during the year.

18. The Company has not issued any debentures.

19. During the year 2013-14 4500000 warrants has been treated as converted into4500000 equity shares of face value of Rs. 4/- each at a Kremium of Rs. 6/- each as perSAT order dated 2.12.2013 in Appeal To. 115/2012. Accordingly 6750000 equity sharesallotted earlier stands cancelled and only 4500000 equity shares were listed in BSE.Further the Company has allotted 6750000 new equity shares of Rs. 4/- each issued at apremium of Rs. 2.5 each to promoter group. Flowever the shares are pending for listing inBSE as open offer is under process.

20. During the course of our examination of the books and records of the Companycarried out in accordance with the auditing standards generally accepted in India We haveneither come across any instance of fraud on orIby the Company noticed or reported duringthe year nor have we been informed of such case by the management.

For Ketan N. Shah & Co.
Chartered Accountants
Sd/-
Place : Mumbai (K. N. SHAH)
Dated: 29.05.2015 Proprietor