You are here » Home » Companies » Company Overview » Kedia Chemical Industries Ltd

Kedia Chemical Industries Ltd.

BSE: 524701 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE514D01016
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Kedia Chemical Industries Ltd. (KEDIACHEMICAL) - Auditors Report

Company auditors report

KEDIA CHEMICALS INDUSTRIES LIMITED ANNUAL REPORT 2005-2006 AUDITORS' REPORT We have audited attached Balance Sheet of M/s. KEDIA CHEMICALS INDUSTRIES LIMITED as on 30 June, 2006 and Profit and Loss Account for the period 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: We conducted our audit in accordance with auditing principal, generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material mis-statement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well-as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 1. As required by the Companies [Auditor's Report] order, 2003 issued by the Central Government in terms of section 227[4A] of the Companies act, 1956 and on the basis of such checks as considered appropriate and according to the information and explanations given to us during the course of our audit, we enclose in the Annexure hereto a statement on the matters specified in paragraph 4 & 5 of the said order. 2. Further to our comments in the Annexure referred to above, we report that: a) 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. b) In our opinion, proper books of accounts as required by law have been kept by the company so far appears from our examination of such books. c) The Balance Sheet and Profit and Loss Accounts and the Cash Flow statement dealt with by the report referred to in this Report are in agreement with the books of accounts. d) In our opinion, the Balance Sheet and the Profit & Loss Account and the Cash Flow statement referred to in this report comply with the Accounting Standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956. e) On the basis of the written representations received from the Directors, and taken on record by the Board of Directors we report that none of the Directors is disqualified as on 30th June, 2006 from being appointed as a Director in terms of Clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956; f) In our opinion and to the best of our information and according to the explanations given to us, the said Balance Sheet and the Profit and Loss Account, read together with the notes thereon in schedule -O attached hereto, subject to Note No.2 regarding amount credited to Capital Reserve, Note No 3 Interest on Secured Loans from Bank., Regarding Note no 6 account have been prepared on going concern basis , give the information required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) In case of the Balance Sheet of the state of affairs of the company as on 30th June 2006 (b) In case of the Profit and Loss Account of the 'Loss' of the company for the period ended on that date, and (c) In case of the cash flow statement, of the cash flow for the period ended on that date. For N.M. Dani & Co. Chartered Accountants Naresh M. Dani Proprietor Place: Mumbai Dated: 2nd December, 2006 ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE: The Companies (Auditor's Report) Order, 2003 ('the Order') was issued in June 2003 and on the basis of such checks as considered appropriate and in terms of the information and explanations given to us, we state as under: 1. (a) The company has not maintained proper records showing full particulars including quantitative details and location of the Fixed Assets. During the year the company has disposed off its plant & machineries during the year substantial , thereby affecting going concern basis. (b) During the year end the company has carried out physical verification of the remaining fixed Assets of the company. However since the company has not maintained records, we are unable to make any comments on any discrepancies about physical and book fixed assets. (c) The company has disposed off remaining its plant & Machineries during the year and as informed to us by the management ,it will be not be affecting the going, concern assumption. 2. At the year end the company has no closing stocks and hence question of physical verification, procedure of physical verification and method of its valuation does not arise. 3. The company lias not granted nor taken any secured or any loan from/to the company, firm or other parties listed in the register maintained under section 301 of the Act. 4. There was no internal control system. 5. The company has not maintained register as required under Section 301 of the Act, and hence we are unable to comment any contract / arrangement have been made at the prevailing market price at the relevant time. 6. The company has not accepted any deposit during the year and have provision of section 58A or 58AA or rules framed there under does not arise. 7. According to information and explanation given to us, the company has no internal audit system. 8. We are informed that the maintenance of cost records has not been prescribed by the Central Government under section 209(1)(d) of the Companies Act, 1956 in respect of Company's procedure. 9. According to information and explanation given to us, the company has no employees during the year under the audit and hence question of depositing Provident Fund & ESIC dues does not arise. However, there are no dues in respect of Income-tax, Wealth-tax, Excise duty, Cess payable by the company. 10. The company has incurred 'Cash Loss' during the year. It has not incurred 'Cash Loss' in the immediately proceeding period and the accumulated losses in the Balance Sheet as on 30 June, 2006 exceeds more than 50% of its net worth of the company. 11. The company has not defaulted during the year in repayment of due to the banks in respect to principal amount and interest. 12. The company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. As the company is not a chit fund, nidhi, mutual benefit fund or society the provisions of ' clause 4 (xiii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the company. 14. As the company is not dealing or trading in shares, securities, debentures and other investments, the provision of clause 4 (xiv) of the Companies (Auditor's Report) Order, 2003 is not applicable to the company. 15. The company has not given any guarantees during the year. 16. According to the information and explanations received, the Company has not applied short term borrowings for the long term use and vise versa. 17. The company has not made any preferential allotment of shares during the year. 18. The company has not issued any debentures during the year. 19. The company has not raised any money by way of public issue during the year. 20. As per the information and explanation given to us no material fraud on or by the company has been noticed during the year. For N.M. Batai & Co. Chartered Accountants Naresh M. Dani Proprietor Mumbai Date : 2nd December, 2006