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K E W Industries Ltd.

BSE: 532758 Sector: Auto
NSE: N.A. ISIN Code: INE700H01012
BSE LIVE 14:25 | 07 Sep Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.05
PREVIOUS CLOSE 1.10
VOLUME 120
52-Week high 1.05
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.05
Sell Qty 1698.00
OPEN 1.05
CLOSE 1.10
VOLUME 120
52-Week high 1.05
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.05
Sell Qty 1698.00

K E W Industries Ltd. (KEWINDS) - Auditors Report

Company auditors report

KEW INDUSTRIES LIMITED ANNUAL REPORT 2011-2012 AUDITORS' REPORT TO THE MEMBERS OF THE COMPANY 1. We have audited the attached balance sheet of M/S KEW INDUSTRIES LIMITED as at 31-03-12 &the Profit and Loss A/c for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis,evidence supporting the amounts and the disclosures in the financial statements.An audit also includes assessing the accounting principles used & the significant estimates made by management , as well as evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub section (AA) of section 227 of the Companies Act, 1956, We enclose in the annexure a statement on the matters specified in paragraph 4 and 5 of the said order. 4. Further to our comments in the annexure referred to above, we report that : i) We have obtained all the information & explanation, which to the best of our knowledge and belief were necessary for the purpose of our audit subject to note (vii) below. ii) 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 subject to note (vii) below. iii) The balance Sheet and Profit & Loss A/c and Cash Flow statement dealt with by this report are in agreement with the books of accounts subject to point (vii) below : iv) In our opinion, the balance sheet and profit and loss a/c and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub sec. (3C) of section 211 of the Companies Act, 1956 to the extent applicable except accounting standard 15 in regard to Gratuity and Leave encashment benefits to employee, which are accounted for on cash basis. v) On the basis of written representations received from the directors and the information and explanations given to us, none of the directors is as on 31st March 2012, prime facie disqualified from being appointed as a director in terms of clause (g) of sub section (1) of section 274 of the Companies Act, 1956. vi) In our--6pinion and to the best of our information and according to the explanation given to us, the said accounts read together with & subject to notes attached therewith & subject to points in clause (iv) & (vii) give the information required by the companies Act,1956, in the manner so required give a true and fair view in conformity with the accounting principles generally accepted in India. a) In the case of the balance sheet of the state of affairs of the Company as at 31st March, 2012. b) In case of the profit & loss a/c, of the profit for the year ended on that date. c) In case of cash flow statement of the cash flow for the year ended on that date. vii)a) The balances of different accounts of L & T Finance Ltd. are subject to Confirmation and reconciliation. No interest has been provided on all the loans of L & T Finance Ltd. b) The balances of RFC. are subject to confirmation and reconciliation. Interest on RFC. Loan has not been provided in the books of accounts. c) Provision for taxation is as per Company's calculation. For Brij Aggarwal & Associates Chartered Accountants Place: Jalandhar (BRIJ AGGARWAL) Dated: 11.08.2012 Partner Referred to in para 3 of our report of even date. I.a) The company has generally maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) As explained to us, all the assets have been physically verified by the management at the year end. According to the information and explanation given to. us, no material discrepancies were noticed on such verification as compared to book records. c) The company has not disposed off substantial portion of its fixed assets during the year. II.a) We have been told that the inventory has been physically verified during the year by the Management at reasonable intervals. In our opinion, the frequency of verification is reasonable. b) In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. III. The Company has not granted/taken any loan to/from the companies, firms or other parties Covered in the register under section 301 of the companies act. 1956. IV. In our opinion and according to the information and explanations given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business with regard to purchase of inventory , fixed assets and with regard to the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control. V. Register has been maintained U/s 301 of the companies Act, 1956. VI. According to the information and explanations given to us, the company has not accepted any public deposits during the year. VII. In our opinion , the company has an internal audit system commensurate with its size and nature of its business. VIII. As explained to us, the Central Govt, has not prescribed maintenance of cost records U/s 209(1)(d) of the Companies act, 1956 for any of the products of the Company. X. The company has earned profits during the financial year as well as in the previous year. XI) The Company has defaulted in repayment of dues to Punjab Financial Corporation. Complete details with respect to which can't be provided as the necessary records have not been made available to us. XII) According to the information & explanations given to us. The company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. XIII) In our opinion, the company is not a chit fund or a Nidhi/ mutual benefit fund/society. XIV) In our opinion, the company is not dealing or trading in shares, securities, debentures or other investments. XV) According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from Banks or financial institutions. XVI) During this year, the Company has used short term funds for long term investment. XVII) According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained u./s 301 of the Act, but no such register has been maintained. XVIII) According to the information and explanations given to us, the company has not issued any debentures. XIX) During the year, the company has not allotted any shares to public. XX. According to the information & explanations given to us, no fraud on or by the company has been noticed during the year. For Brij Aggarwal & Associates Chartered Accountants Place: Jalandhar (BRIJ AGGARWAL) Dated: 11.08.2012 Partner