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Asis Logistics Ltd.

BSE: 506159 Sector: Others
NSE: N.A. ISIN Code: INE888E01020
BSE 00:00 | 05 Sep Asis Logistics Ltd
NSE 05:30 | 01 Jan Asis Logistics Ltd
OPEN 6.90
PREVIOUS CLOSE 6.90
VOLUME 1
52-Week high 6.90
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.90
Sell Qty 3000.00
OPEN 6.90
CLOSE 6.90
VOLUME 1
52-Week high 6.90
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.90
Sell Qty 3000.00

Asis Logistics Ltd. (ASISLOGISTICS) - Auditors Report

Company auditors report

PARAAN LIMITED ANNUAL REPORT 2011-2012 AUDITOR'S REPORT To The Members of Paraan Limited Report on the Accounts for the year ended 31st March, 2012 in compliance with Section 227(2) of the Companies Act, 1956. 1. We have audited the attached Balance sheet of Paraan Limited, as at 31st March 2012 and also the Statement of Profit & Loss of the company for the year ended on that date annexed thereto and the Cash Flow Statement for the year ended on that day. These financial statements are responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. 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 (a) examining, on a test basis, evidence to support the financial statement amount and disclosures the financial statement (b) assessing the accounting principles used in the preparation of financial statements (c) assessing significant estimates made by the management in the preparation of the financial statement and (d) Evaluating overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies(Auditor's Report)Order, 2003 and Companies (Auditors' Report) (Amendment) Order, 2004 issued by the Central Government in terms of section 227(4A) of the Companies Act, 1956, we give in the annexure a statement on the matters specified in paragraphs 4 & 5 of the said Order. 4. Further to our comments in the Annexure referred to in paragraph (3) 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 purposes of our audit; (b) In our opinion, Company has kept proper books of accounts, as required by law, so far as appears from our examination of the books of the Company; (c) The Balance sheet, Statement of Profit and Loss and Cash-flow statement referred to in this report are in agreement with the books of account of the Company; (d) In our opinion, the accounts comply with the accounting standards referred to in section 211(3C) of Companies Act; (e) On the basis of representation received from the directors, and taken on record by the Board of Directors, in our opinion, none of the directors are disqualified from being appointed as director U/s 274(1)(g) of Companies Act, 1956; 5. In our opinion and to the best of our information and according to the explanation given to us, the said balance Sheet and Statement of Profit & Loss, read together with Significant Accounting Policies and Notes to Accounts, 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' 2012, (ii) In the case of the Statement of Profit & Loss, the Loss of the company for the year ended on that date, and (iii) In the case of the Cash Flow Statement, of the Cash flows for the year ended on that date. For B Y & Associates Firm Regn. No.: 123423W Chartered Accountants Navin Jain Partner M. No.: 106140 Place: Mumbai Date : 23rd May 2012. ANNEXURE TO THE AUDITORS' REPORT: (Referred to in our Report of even date on Accounts for the year ended 31st March 2012 of Paraan Limited): In our opinion, and on the basis of such checks of the books and records as we considered appropriate and according to the information and explanations given to us during the normal course of audit, which were necessary to the best of our knowledge and belief, we report that: (i) As there is no fixed asset as on date of balance sheet, clause (i) of the Order, relating to fixed assets is not applicable to the Company. (ii) Due to the nature of its business, clause (ii) of the Order relating to physical verification of inventory is not applicable to the Company. (iii) According to the information and explanation given to us, the company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. The company has taken interest free unsecured loans from Directors & shareholders covered in the register maintained U/s. 301 of the Companies Act, 1956. The Maximum amount involved for loan during the year was Rs. 7,00,000/-& the yearned balance was Rs. 7,00,000/-. The rate of interest and the other terms and conditions are not prejudicial to the interest of the Company. (iv) In our opinion and according to information and explanations given to us, the internal control system for purchase of fixed assets and for sanction, disbursements and recovery of loans given by the company are adequate and commensurate with the size of the company and present nature of its business. During the course of our audit no major weakness has been noticed in the internal control system. (v) In our opinion and according to the information and explanation given to us, we are of the opinion that transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered. (vi) In our opinion and according to the information and explanations given to us, the company has not accepted any public deposits so far up to 31st March 2012. Hence provision of section 58A and 58AA or any relevant provisions of the Act and the rules framed there under are not applicable. (vii) In our opinion, the company has an adequate internal audit system commensurate with the size and the nature of the business. (viii) Due to nature of its business, clause (viii) of the Order, relating to maintenance of cost records is not applicable to the company. (ix) According to the records of the company and information and explanations given to us in respect of statutory and other dues, the company has been generally regular in depositing undisputed statutory dues including Income Tax and other statutory dues with the appropriate authorities during the year. According to the records of the company and information and explanations given to us, there are no disputed statutory dues. (x) In our opinion, the company has at the end of the financial year accumulated losses not less than fifty percent of its net-worth and the company has incurred cash losses in the financial year under report and in the immediately preceding financial year. (xi) According to records of the company, the company has not borrowed funds from financial institutions or banks or issued debentures till 31st March 2012. Hence, in our opinion, the question of reporting on default in repayment of dues to financial institutions or banks or debenture holders does not arise. (xii) According to the information and explanations given to us, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) The provisions of any special statute applicable to Chit Fund, Nidhi or Mutual Benefit Fund/Societies are not applicable to the company. (xiv) On the basis of our examination of the company's records we are of the opinion that the company is maintaining adequate records regarding transactions and contracts regarding its investment activities in shares and securities and other investment and timely entries have been made in these records. All the investment at the close of the year is held in the name of the Company. (xv) According to the information and explanations given to us, the company has not given any guarantee for loans taken by other from banks or financial institutions. (xvi) To the best of our knowledge and belief and according to the information and explanations given to us, the company has not availed any term loan during the year. (xvii) According to the records examined by us and according to the information and explanations given to us, on overall basis, funds raised on short term basis have, prima facie, not been used during the year for long term investment. (xviii) During the year, the company has made preferential allotment of 4,000 shares of Rs. 100 each at a premium of Rs. 1,700 per share to one company covered in the Register maintained under section 301 of the Act. The price at which shares have been issued is prima facie not prejudicial to the interest of the company. (xix) The company has not issued any Debentures. (xx) During the year, the company has not raised any money by public issues. (xxi) To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the company was noticed or reported during the year. For B Y & Associates Firm Regn. No.: 123423W Chartered Accountants Navin Jain Partner M. No.: 106140 Place: Mumbai Date : 23rd May 2012.
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