GUJARAT INJECT LIMITED
We have audited the attached Balance Sheet of Inject Limited as at 31st
March, 1996 and the Profit and Loss Account for the year ended on that
date, annexed thereto and report as under:
1. We have obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purpose of our audit.
2. In our opinion, proper books of account as required by law have been
maintained by the Company, so far as appears from our examination of the
3. The Balance Sheet and the Profit and Loss Account dealt with by this
report are in agreement with the books of account.
4. In our opinion and to the best of our information and according to the
explanations given to us, the accounts read with the note there on subject
to note viz.,
i) Note No. 01(iv) - in respect of accounting of exchange difference of
long term liabilities.
ii) Note No. 01 - in respect of unconfirmed balances of sundry debtors,
sundry creditors, etc.
iii) Note No. 5 - in respect of dividend record for the year 1990-91,1991-
92 and Rights Issue Refund Account.
iv) Note No. 6 - in respect of claim lodged by BOI Finance Ltd. for Rs.
v) Note No. 7 - in respect of unconfirmed balance of banks and financial
institutions. (This includes non-confirmation by the bank for adjustment
of Rs. 44.65 lacs and Rs. 4.39 lacs due to The Samasta Nagar Co.-op. Bank
Ltd., which are transferred to the associates viz. M/s. Harman Services
Pvt. Ltd. and M/s. Hardik Estate Developments Pvt. Ltd. respectively as per
their undertaking to repay the same on behalf of the Company).
vi) Note No. 8 - in respect of overdue installment of financial
vii) Note No. 9 - in respect of non-provision of doubtful debts/advances
aggregating to Rs. 54,08,762/-. This has resulted into understatement of
loss by the same amount, 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, 1996, and
(ii) In the case of the Profit and Loss Account of the Loss for the year
ended on that date.
For P.B. SHUKLA & CO.
Pradeep B. Shukla
Place : Baroda
Date : 25th April, 1996.