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GDR Media Ltd.

BSE: 531114 Sector: Financials
NSE: N.A. ISIN Code: INE946B01014
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GDR Media Ltd. (GDRMEDIA) - Auditors Report

Company auditors report

VALUELINE SECURITIES (INDIA) LIMITED Annual Report 1999 - 2000 AUDITORS REPORT To, The Members of M/s Value Line Securities (India) Limited Hyderabad We have audited the attached the Balance Sheet of M/s Value Line Securities (India) Limited Hyderabad as at 31st March, 2000 and the annexed Profit and Loss Account for the period ended on that date annexed Profit and Loss Account for the period ended on that date annexed thereto and report that: 1. As required by the manufacturing and other Companies ( Auditors Report) Order, 1988 issued by the Company Law Board in terms of Section 227 (4A) of the Companies Act, 1956, we enclose a statement on the matters specified in Paragraphs 4 and 5 of the said order. 2. Further to our comments in the statement referred to in Paragraph (1) above: a. We have obtained all the information and explanation which to the best of our knowledge end belief, were necessary for the purpose of our audit. b. In our opinion, proper books of accounts as required by law have been kept by the Company is so far as it appears from our examination of such books, c. The Balance Sheet and Profit and Loss account referred to in the Report are in agreement with books of accounts. d. In our opinion, the Balance Sheet and Profit and Loss Account comply with the Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956. e. As stated in Note No. 2 (C) of Schedule P outstanding balances of Debtors, Creditors and Loans end Advances not confirmed by the Parties, f. In our opinion and to the best of our information and according to the explanation given to us, the said Balance Sheet and Profit and Loss Account read together with the Notes there on, give the information, required and give a true and fair view: I. In so far as it related to the Balance Sheet and State of Affairs of the Company as at 31st March, 2000 and II. In so far as it related to the Profit and Loss Account of the Company of the Profit of the Company for the year ended on that date, FOR RAO AND BABU ASSOCIATES, CHARTERED ACCOUNTANTS PLACE: HYDERABAD (C. SREENIVAS BABU) DATE: 14.06.2000 PARTNER STATEMENT REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE 1. The Company has maintained proper records showing full particulars including quantitative details of Fixed Assets. The Fixed Assets of the Company other than the assets given on lease have been physically verified by the Management during the year and no discrepancies were not noticed on such verification, as compared to the register of fixed assets maintained by the Company 2. None of the Fixed Assets of the Company have been revalued during the year. 3. The Company has not taken any loan, secured or unsecured from companies, firms or other parties listed in the register maintained under Sec. 301 and or companies under the same management as defined under sub section (1 B) of Section 370 of the companies Act, 1956 4. The Company has not granted and loans, secured or unsecured to Companies, Firms or other parties listed in the register maintained under Sec. 301 and /or companies under the same management as defined under sub section (1B) of Section 370 of the Companies Act, 1956 where the rate of interest and other terms and conditions are prima facie prejudicial to the interests of the Company. 5. The parties to whom the advances are given are repaying the amount as stipulated and where instalments are overdue, we are of the opinion that reasonable steps have been taken by the company for recovery of the same. 6. The Company has adequate Internal Control procedures commensurate with size of the Company and the nature of its business for the purchase of stores, material including Components, equipment and other assets. 7. According to the information and explanation given to us, the transactions of purchase and sale of goods, materials and services made in pursuance of Contracts or agreements entered in the register maintained under Sec. 301 of the Companies Act, 1956 and aggregating during the year to Rs. 50,000/- or more in respect of each party, have been made at prices which are reasonable having regard to prevailing market prices availing with the Company for such goods, materials and services or the prices at which transactions for similar goods and services have been made with other parties. 8. The Company has not accepted any deposits from public. Therefore provisions of Sec. 58 A of the Companies Act, 1956 are not applicable. 9. The Company has not having internal audit system commendurate with size and nature of the business. 10. The Company has not established any Provident Fund Scheme to its employees, as the provisions of the Provident fund Act, do not apply to this Company. The Provision of employees State Insurance Act also applicable to the Company. 11. In our opinion and according to the information and explanation given to us, subject to Contingent as per note, there are no undisputed amounts payable in respect of Income Tax, Wealth Tax, sales Tax, Customs duty and case duty as on 31.03.2000 12. In our opinion and according to the information and explanation given to us, personal expenses have not been charged to Revenue Account. 13. The Company is not a sick industrial Company under Sec 3 (1)(o) of the Sick Industrial Companies special provisions) Act, 1985 (1 of 1956) 14. In case of Loans and Advances granted on the basis of Securities by way of pledge of shares, Debentures and other Securities adequate Documents and records are maintained by the Company. 15. The provision of special status applicable to Chit Fund, Nidhi or Mutual benefit Society are not applicable to the Company. 16. The Company has maintained proper records o( the dealings in Shares and Securities. The Investments are held in the name of the Company. 17. Provision of Clause A (iii, iv, v, vi, xii, xiv, xivi) are not applicable to the company. FOR RAO AND BABU ASSOCIATES CHARTERED ACCOUNTANTS PLACE: HYDERABAD (C. SREENIVAS BABU) DATE: 14.06.2000 PARTNER