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Shukla Data Technics Ltd.

BSE: 511471 Sector: Financials
NSE: N.A. ISIN Code: N.A.
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Shukla Data Technics Ltd. (SHUKLADATATECH) - Auditors Report

Company auditors report

1997 SHUKLA DATA TECHNICS LIMITED AUDITORS' REPORT We have audited the attached Balance Sheet of M/s. Shukla Data Technics Ltd. as at 31st March, 1997 and the annexed Profit and Loss Account of the Company for the year ended on that date, and report as under: As required by the Manufacturing and Other Companies (Auditor's Report) Order 1988, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure, a Statement on the matters to be specified in paras 4 & 5 of the said Order, to the extent applicable, and based on such checks as are considered appropriate. Further to our comments in the Annexure referred to above; 1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of Audit; 2. In our opinion, proper books of account as required by law, have been kept by the Company, so far as appears from our examination of the books; 3. The Balance Sheet and the Profit and Loss Account dealt with by this report, are in agreement with the books of account; 4. In our opinion and to the best of our information and according to the explanations given to us, the accounts, read in conjunction with other Notes on Accounts, gives 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 the Balance Sheet, of the state of affairs of the Company, as at 31st March, 1997 And b) In the case of the Profit and Loss Account of the profit for the year ended on the date. ANNEXURE TO THE AUDIT 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 fixed assets. The assets have been physically verified once in the year. The frequency of verification is reasonable. No material discrepancy has been noticed on such verification. 2. None of the fixed assets have been revalued during the year. 3. We have been informed that inventories have been physically verified by the Management at reasonable intervals during the year. 4. The procedures of physical verification of hire purchase inventories followed by the management are adequate in relation to the size of the Company and the nature of its business. 5. The discrepancies noticed on verification of inventories have not been significant as compared to the books and records and have been properly dealt with in the books of account. 6. In our opinion, the valuation of inventories 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 secured or unsecured loans from companies, firms or other parties as shown by the register maintained under Section 301 or from the companies under the same management, as defined under Sub- Section (1B) of Section 370 of the Companies Act, 1956. 8. The Company has not granted unsecured loans to the companies listed in the register maintained under Section 301 of the Companies Act, 1956. The Company has not granted any loan, secured or unsecured, to the companies under the same management as defined under sub-section (1-B) of Section 370 of the Companies Act, 1956. 9. In respect of loans and advances given, including to the employees, principal instalments and interest are being recovered according to stipulation. 10. 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 for the purchase of components, plant and machinery, equipments, and other assets. 11. In our opinion and according to the information and explanations given to us, the prices for purchase of goods and material and prices charged for sale of goods and materials made in pursuance of the contracts or arrangements entered in the Register maintained under Section 301 of the Companies Act, 1956 and aggregating during the year to Rs. 50,000/- or more in respect of each party, have been made at prices which are reasonable as compared to the market prices for such goods and materials or prices for which transactions for similar goods have been made with other parties. 12. The Company does not have stores, raw materials and finished goods. Hence the question of determination of unserviceable and damaged goods and the provision for the same does not arise. 13. In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of Section 58-A of the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. 14. As the activity of the Company does not generate any by-product or scrap, the question of maintaining records for the sale and disposal of the same does not arise. 15. The Company has appointed an outside agency for internal audit. In our opinion, the scope of the work is reasonable as compared to the size of the Company. 16. The maintenance of cost records has not been prescribed under Section 209(1)(d) of the Companies Act, 1956 for the nature of business the Company is engaged in. 17. Provided Fund and Employees State Insurance regulations are not applicable to the Company. 18. According to the information and explanations given to us, there are no disputed amounts payable in respect of wealth tax, sales tax, customs duty and excise duty as at 31st March, 1997 for a period of more than six months from the date they became payable, except income tax liability for last year. 19. According to the information and explanations given to us, no personal expenses have been charged to revenue account, other than those payable under contractual obligations or in accordance with generally accepted business practice. 20. The Company is not 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. 21. We are informed that the provisions of any special statue applicable to Chit funds, nidhi or mutual benefit society do not apply to the Company. FOR DIPAK B. PARIKH & CO. Chartered Accountants DIPAK B. PARIKH Proprietor Place : Mumbai Date : 24th June, 1997.