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Indian Steel Rolling Mills Ltd.

BSE: 513275 Sector: Metals & Mining
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Indian Steel Rolling Mills Ltd. (INDIANSTEELROL) - Auditors Report

Company auditors report

1995 THE INDIAN STEEL ROLLING MILLS LIMITED AUDITORS' REPORT We have audited the attached Balance Sheet of THE INDIAN STEEL ROLLING MILLS LIMITED as at 31st March,1995 and also the annexed Profit & Loss Account of the Company for the year ended on that date and report that: 1. 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. 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 those books. 3. The Balance Sheet and Profit & Loss Account dealt with by this Report are in agreement with the books of account. 4. The accounts have prepared on principles applicable to "Going concern" despite the company having been declared as a Sick Industrial Company not likely to become viable by the Board for Industrial Finance and Reconstruction (Note 1 (a) in Schedule 12). 5. Attention is invited to para 2(vi) of the notes in schedule 12 regarding accounting treatment of the amount received under the agreements for the sale of Nagapattinam and Karaikal units. In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read with the accounting policies subject to notes 1(a) & 2(v) in schedule 12 regarding prepration of accounts on the principles applicable to a "going concern" and non provision of interest of Rs. 81.25 lakhs, to the Financial Institutions and the consequent effect of these on the loss for the year and the values of Assets and Liabilities as on 31st March 1995 the Balance Sheet give the information required by Companies Act 1956, in the manner so required and give a true and fair view. (i) In the case of the Balance Sheet of the state of affairs of the Company as at 31st March, 1995 (ii) In the case of the Profit & Loss Account, of the Loss for the year ended on that date. For FRASER & ROSS Chartered Accountants N. SETHURAMAN Partner Place : Madras Dated : 30th June, 1995.