HARPARTAP STEEL LIMITED
We have audited the attached Balance Sheet of Harpartap Steel Limited as at
31st March, 1996. No Profit & Loss Account of the Company for the year
ended as on that date has been prepared as the Company has not commenced
any manufacturing, trading or other specified activities during the year.
We report that:
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 kept
by the Company so far as appears from our examination of the books.
3. The Balance Sheet dealt with by this report is 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 said accounts together with the Schedule 'G'
under the head "Expenditure During Construction Period Pending Allocation"
as at 31st March, 1996 and subject to the notes thereon especially Note No.
5 regarding balance of loans, Sundry Creditors, Capital Advances & other
advances, give the information required by the Companies' Act, 1956, in the
manner so required and the Balance Sheet gives true and fair view of the
state of affairs of the Company as at 31st March, 1996.
For KALIA & CO.,
Place : Chandigarh
Dated : 30th November, 1996.