MAHAGANESH TEXPRO LIMITED
We have audited the attached Balance Sheet of MAHAGANESH TEXPRO LTD as on
31st March, 1996 and the profit and Loss Account of the Company for the
year ended on that date and report that :-
01. We have obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purpose of audit.
02. In our opinion proper books of accounts as required by law have been
kept by the company so far as it appears from our examination of books.
03. The Balance Sheet and Profit and Loss account are in agreement with the
books of accounts.
04. In our opinion and to the best of our information and according to the
explanations given to us the said accounts together with the notes thereon
and attached thereto, give the information required by the Companies Act,
1956 in the manner so required and give a true and fair view :
(a) In the case of Balance Sheet of the state of affairs of the Company as
on 31st March,1996.
(b) In the case of the Profit and Loss account of the profit of the Company
for the year ended on that date.
B. In case of Service Activities :
(i) For activities of the labour job undertaken by the Company, there is a
reasonable system for recording receipts, issues and consumption of raw
materials commensurate with the size of the Company and the nature of its
business for issue of colour and chemicals, stores to the labour job work
undertaken. Company is also having a system of allocation of man- hours
utilised with the relative job work.
C. In case of Trading Activities :
There are no damaged goods and hence the question of making provision for
the loss does not arise.
For M.A.SHAH & CO.
PLACE : MUMBAI
DATED : 1st August 1996