You are here » Home » Companies » Company Overview » Om Sindhoori Capital Investments Ltd

Om Sindhoori Capital Investments Ltd.

BSE: 530489 Sector: Financials
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

Om Sindhoori Capital Investments Ltd. (OMSINDHOORICAP) - Auditors Report

Company auditors report

ANNUAL REPORT 1998-99 Om Sindhoori Capital Investments Limited AUDITORS REPORT TO THE SHAREHOLDERS OF OM SINDHOORI CAPITAL INVESTMENTS LIMITED We have audited the attached Balance Sheet of M/s. OM SINDHOORI CAPITAL INVESTMENTS LIMITED, Chennai as at 30th September 1999 and the Profit and Loss Account for the year ended 30th September 1999 and report that: 1. 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. 2. In our opinion, proper books of account, as required by law have been kept by the company so far as it appears from our examination of these books. 3. The Balance Sheet and the Profit and Loss Account dealt with by this report are in agreement with the books of account produced for the audit. 4 Attention is invited to the following: i. Note No. 9 with regard to change in accounting policy in respect of accounting penal charges due to which the loss for the year is higher by Rs. 21.31 Lakhs ii Note No. 10 with regard to non provision of diminution in respect of certain long term investments amounting to Rs. 14.27 lakhs due to which the loss for the year is lower by Rs. 14.27 lakhs. Subject to the foregoing, in our opinion and to the best of our information and according to the explanations given us, the annexed 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: a) In the case of Balance Sheet, of the State of affairs of the Company as at 30th September 1999. b) In the case of Profit and Loss Account, the Loss for the year ended on that date. 5. In our opinion the Balance Sheet and Profit and Loss Account dealt with by this report comply with the Accounting Standards referred to in Section 211(3c) of the Companies Act, 1956 subject to non-compliance of Accounting Standard 13 with regard to diminution in the value of long term investments as indicated in Para 4(ii) above. 6. As required by the Manufacturing and other Companies (Auditor's Report) Order, 1988 issued by the Central Government under Section 227(4A) of the Companies Act, 1956, we give below our comments on the matters specified in the said order to the extent applicable to this company. i) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. All the assets have been physically verified by the Management during the year. No material discrepancies were noticed on such verification. In respect of leased Assets no physical verification has been carried out by the company. ii) None of the fixed assets have been revalued during the year. iii) The Company has taken loans from parties listed in the register maintained under section 301 of the Companies Act 1956. The terms of such loans are not prima-facie prejudicial to the interest of the Company. We are informed that there are no companies under the same management as defined under Section 370(1-B) of the Companies Act 1956. iv) The Company has given loans to companies/parties listed in the register maintained U/S 301 of the Companies Act, 1956. In our opinion the terms of such loans are not prima-facie prejudicial to the interest of the Company. v) Interest free advances have been given to employees which are being repaid as per stipulations. In respect of other loans wherever the loans are not serviced as per stipulations,the company has taken adequate steps for recovery. vi) In our opinion and according to the information and explanations given to us, there are adequate internal control procedure, commensurate with the size of the Company and the nature of its business, for the purchase of fixed assets. vii) According to the information and explanations given to us and the records examined by us, there were no transactions of purchase of goods and materials with companies, firms or parties listed in the register maintained under section 301 of the Companies Act, 1956. In respect of transactions of Sale of goods, materials and services with such parties and aggregating to Rs. 50000/- or more during the year, the terms of such transactions are not prima facie prejudicial to the interest of the company. viii) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of Section 58A of the Companies Act 1956 and the provisions of Non-Banking financial Companies (Reserve Bank) Directions 1998 and the rules framed thereunder in regard to fixed deposits accepted by the Company. ix) In our opinion, the Company has an adequate internal audit system commensurate with the size and nature of its business. x) The Central Government has not prescribed maintenance of cost records under Section 209(1) (d) of the Companies Act 1956. xi) The company is regular in depositing Provident Fund dues with the appropriate authorities. xii) According to the information and explanations given to us, there are no undisputed amount payable in respect of Income Tax, Sales Tax, Wealth Tax, Customs Duty and Excise Duty outstanding as at 30th September 1999 for a period of more than six months from the date they become payable. xiii) According to information and explanations given to us no personal expenses of employees or directors have been charged to revenue account, other than those expenses, payable in accordance with the contractual obligations or in accordance with generally accepted business practice. xiv) The provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 are not applicable to this Company. xv) The company has granted loans and advances on the basis of security by way of pledge of shares, debentures and other similar securities and adequate documents and records are maintained. xvi) Provision of any special statute applicable to Chit Fund, Nidhi or Mutual Benefit Society are not applicable to this company. xvii) The Company is dealing/ trading in shares, securities, debentures and other investments. Proper records are maintained for the transactions and contracts and timely entries have been made therein. Investments are held in the name of the company, other than shares and securities which are kept open for delivery in the normal course of trading activity, barring certain securities (yet to be received) lodged for registration after the book closure. xviii) The other clauses of the said order are not applicable to this company. For R.SUBRAMANIAN & CO., CHARTERED ACCOUNTANTS Place: Chennai R.PRAKASH Date : 28/02/2000 PARTNER.-