You are here » Home » Companies » Company Overview » Nagarjuna Granites Ltd

Nagarjuna Granites Ltd.

BSE: 526279 Sector: Others
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.
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

Nagarjuna Granites Ltd. (NAGGRANITES) - Auditors Report

Company auditors report

NAGARJUNA GRANITES LIMITED ANNUAL REPORT 1998-99 AUDITORS' REPORT The Members of NAGARJUNA GRANITES LIMITED We have audited the attached Balance Sheet of NAGARJUNA GRANITES LIMITED as at 31st March, 1999 and the Profit & Loss Account for the year ended on that date and annexed thereto and report that: 1. As required by the Manufacturing and Other Companies (Auditors Report) Order 1988 issued by the Company Law Board in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order wherever applicable. 2. Further to our comments in the annexure referred to in paragraph above a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of the audit b) In our opinion proper books of account, as required by law have been kept by the Company so far as it appears from the examination of such books. c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the books of account. d) In our opinion the Balance Sheet and the Profit and Loss Account complies with the mandatory Accounting Standards referred in Section 211 (3C) of the Companies Act, 1956. e) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with and subject to the notes thereon, give the information as required by the companies Act, 1956 in the manner so required and give a true and fair view: i)In the case of Balance Sheet of the state of affairs of the company as at 31st March, 1999 and ii)In the case of Profit & Loss Account of the Loss for the year ended on that date. for A.M. REDDY & CO., CHARTERED ACCOUNTANTS Sd/- Place: Hyderabad (K.V. JAGAN MOHAN REDDY) Date: 24-06-1999 PARTNER ANNEXURE TO THE AUDITORS' REPORT (Referred to in paragraph 1 of our report of even date) 1) The company has maintained proper records showing full particulars including quantitative details and situation of its Fixed Assets, The Assets of the Company have been physically verified by the management during the year as per a programme of verification, which in our opinion is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were notice on such verification. 2) None of the Fixed Assets has been revalued during the year. 3) The stocks of finished goods and raw materials have been physically verified during the year by the management at reasonable intervals. 4) The procedures of physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business . 5) The discrepancies noticed on verification between the physical stock and the book records were not material. 6) On the basis of our examination of stock records, we are of the opinion that the valuation of stocks is fair and proper in accordance with the normally accepted accounting principles and is on the same basis as in the preceding year. 7) The company has not taken any loans from the Companies, firms or other parties listed in the Register maintained under section 301 and 370 (1 -C) of the Companies Act,1956. 8) According to the information and explanations given to us the company has not granted any loans to the Companies, firms or other parties listed in the register maintained under section 301 and 370 (1 -C) of the Companies Act, 1956. 9) The company has not granted any loans or advances in the nature of loans. 10) In our opinion and according to the information and explanations given to us, there is an adequate internal control procedures commensurate with size of the company and the nature of its business with regard to purchase of stores, raw materials, including components plant & machinery, equipment and other assets and with regard to the sale of goods. 11) According to the information and explanations given to us, the company has not made any transactions of purchase and sale of goods and materials in pursuance of contracts, or arrangements entered in the register maintained under section 301 and aggregating during the period to Rs.50,000 or more in respect of each party. 12) According to the information and explanations given to us, there are no unserviceable or damaged stores, raw materials or finished goods. 13) The company has not accepted any deposits from the public covered by the provisions of section 58A of the Companies Act, 1956. 14) We are informed by the Management that the manufacturing process of product does not give rise to any by-product or realisable Scrap. 15) The company has no Internal Audit System. 16) The maintenance of cost records has not been prescribed by the Central Government under section 209 (1)(d) of the Companies Act, 1956. 17) The provisions of Employees Provident Fund Act is applicable to this company and advised to comply the same. The Employees State Insurance Act do not apply to this Company. 18) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Sales Tax, Customs Duty Excise Duty were outstanding as on 31 st March,1999 for a period of more than six months from the date they became payable. The provisions of Wealth Tax Act are not applicable to this company. 19) According to the information and explanations given to us, no personal expenses of employees or directors have been charged to revenue account, other than those payable under contractual obligations. 20) The company is a sick industrial company within the meaning of clause (o) of sub-section (1) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985. for A.M.REDDY & CO., CHARTERED ACCOUNTANTS Sd/- Place: Hyderabad (K.V.JAGAN MOHAN REDDY) Date : 24-06-1999 PARTNER