You are here » Home » Companies » Company Overview » Niryat Sam Apparels (India) Ltd

Niryat Sam Apparels (India) Ltd.

BSE: 531836 Sector: Industrials
NSE: N.A. ISIN Code: INE645D01018
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

Niryat Sam Apparels (India) Ltd. (NIRYATSAMAPP) - Auditors Report

Company auditors report

NIRYAT-SAM APPARELS (INDIA) LIMITED ANNUAL REPORT 2007-2008 AUDITORS' REPORT To The Members of NIRYAT-SAM APPARELS (INDIA) LIMITED We have audited the attached Balance Sheet of NIRYAT-SAM APPARELS (INDIA) LIMITED as at 31st March 2008 and the Profit and Loss Account 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. We conducted our audit in accordance with auditing standards 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 misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit includes assessing the accounting principles used and significant estimates made by the 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 of India in terms of sub -section (4A) of section 227 of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order. 2. Further to our comments in the Annexure referred to in paragraph 1 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, as appears from our examination of such books. (c) The Balance Sheet and Profit and 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 dealt with by this report comply with the Accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. (e) As per the written representation received by us from the directors, we report that none of the Directors is disqualified as on 31st March, 2008 from being appointed as a director of the company in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956. (f) That the books are prepared on Going concern basis. (g) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the notes thereon give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2008 and (ii) in the case of the Profit and Loss Account, of the Profit of the Company for the year ended on that date. (iii) In the case of Cash Flow Statement, of the cash flows for the year ended on that date. For SHANTI PRASHAD & COMPANY Chartered Accountants Place : New Delhi (SATISH AGRAWAL) Dated : 07.06.2008 Partner Membership No.: 505969 ANNEXURE REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE 1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) As explained to us, all the fixed assets have been physically verified by the management during the year at reasonable intervals and we are informed that no material discrepancies were noticed on physical verification. (c) During the year the Company has sold a Car costing Rs. 337500/-. 2. (a) The physical verification of Inventory has been conducted at reasonable intervals by the management. (b) The procedure 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. (c) The company is maintaining proper records of inventory and the discrepancies noticed on physical verification of inventory as compared to book records, which were not material, have been properly dealt with in the books of account. 3. (a) The company has not granted any secured or unsecured loans to companies, firms or other parties covered in the resisters maintained under Section 301 of the Companies Act, 1956. (b) As the company has not granted any Secured / Unsecured loan, therefore clause (iii)(b) of, the Companies (Auditor Report) Order 2003 (as amended) is not applicable. (c) As the company has not granted any Secured / Unsecured loan, therefore clause (iii)(c) of the Companies (Auditor Report) Order 2003 (as amended) is not applicable. (d) As the company has not granted any Secured / Unsecured loan, therefore clause (iii)(d) of the Companies (Auditor Report) Order 2003, (as amended) is not applicable. (e) The company has not taken any unsecured loans from persons covered in the register maintained under section 301 of the Companies Act, 1956. (f) As the company has not taken any Secured / Unsecured loan, therefore clause (iii)(f) of the Companies (Auditor Report) Order 2003 (as amended) is not applicable. (g) As the company has not taken any Secured / Unsecured loan, therefore clause (iii)(g) of the Companies (Auditor Report) Order 2003 (as amended) is not applicable. 4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regard to purchase of inventory and fixed assets and for the sale of goods and services. There was no continuing failure to correct major weaknesses in the internal control systems. 5. (a) In our opinion and according to the information and explanations given to us, there were no transaction of purchase of goods and material and sale of goods, material and services, made in pursuance of contracts or arrangements required to be entered in the register maintained under Section 301 of the Companies Act, 1956. (b) There were no transaction of purchase of goods and material and sale of goods, material and services, made in pursuance of contracts or arrangements required to be entered in the register maintained under Section 301 of the Companies Act, 1956, hence point regarding the same having been made at the prevailing market price does not arise. 6. The company has not accepted any deposits from the public, hence provisions of Section 58A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1975 are not applicable. 7. In our opinion, Company has an internal audit system commensurate with the size of the Company. 8. The Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Companies Act, 1956 for any of the products of the Company. 9. (a) According to the records of the Company, it is regular in depositing undisputed statutory dues including Income Tax, Sales Tax, Wealth Tax, Service Tax and other applicable statutory dues with the appropriate authorities. According to the information and explanations given to us, no undisputed statutory dues in respect of Investor Education and Protection Fund, Income Tax, Wealth Tax, Service Tax, Sales Tax, Custom Duty, Excise Duty, and Cess were outstanding, as at 31st March, 2008, for a period of more than six months from the date they become payable. (b) As per information and explanations given to us, there is no disputed amount in respect of sales tax, income tax, custom tax, wealth tax, service tax, excise duty or cess, which has not been deposited on account of any dispute. 10. The accumulated losses of the company at the end of the financial year exceed fifty percent of its net worth. The company has not incurred cash losses during the financial year under report. 11. The company has not defaulted in repayment of dues to banks. The company has not availed of any loan from financial institutions and has not issued any debentures. 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. Provisions of any special statute applicable to Chit fund are not applicable to the Company. 14. The company has maintained records of transactions and contracts of Investments made by the company. The Company is holding Investments worth Rs. 21,136,635.81/- at the closing of the financial year 2007-08. 15. As informed to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions. 16. The Company has not availed any term loan from banks or financial institutions during the year. There is no outstanding balance of Term Loans. 17. The company has not raised any funds on short-term basis during the year. 18. The Company has not made any allotment of shares during the year. 19. The Company has not issued any debentures. 20. The Company has not raised any money by public issue during the year. 21. As informed to us, no frud on or by the company has been noticed or reported during the year. For SHANTI PRASHAD & COMPANY Chartered Accountants Place : New Delhi (SATISH AGRAWAL) Dated : 07.06.2008 Partner Membership No.: 505969