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Kushal Diamonds Ltd.

BSE: 523337 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Kushal Diamonds Ltd
NSE 05:30 | 01 Jan Kushal Diamonds Ltd

Kushal Diamonds Ltd. (KUSHALDIAMONDS) - Auditors Report

Company auditors report

1996 KUSHAL DIAMONDS LIMITED AUDITORS REPORT We have audited the attached Balance Sheet of Kushal Diamonds Limited as at 31st March, 1996 and also the Profit and Loss Account of the Company for the year ended on that date. annexed thereto, and report that : 1. We have obtained all the information and explanations to the best of our knowledge and belief were necessary for the purposes of our 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 profit and loss account dealt with by this report are in agreement with the books of account; 4. (i) In our opinion and on the basis of information and explanations given to us Sundry debtors should be considered doubtful to the extent of Rs. 82,59,656, which have been classified as good in the accounts. (ii) During the financial year the company has changed the accounting policy relating foreign currency transactions as referred in note no. 1(vi) of the notes to accounts. The effect of such change has not been ascertained. (iii) As referred in note no. 6 of notes to accounts the company has yet to receive permission of Reserve Bank of India to written off a sum of Rs. 37,94,945/- (US $ 43073.65). (iv) The company has not transferred the payment of dividend aggregating to Rs.1,17,576/- for the financial years 1990-91 & 1991-92 to the General Reserve Accounts of Central Government in terms of Section 206 of the Companies Act, 1956. Subject to above, in our opinion and to the best of our information and according to the explanations given to us, the accounts together with 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 the balance sheet of the state of affairs of the company as at 31st March, 1996 and b) in the case of the profit and loss account, of the loss for the year ended on that date. FOR A. J. BALIYA & ASSOCIATES Chartered Accountants M.P. MODY Partner PLACE : MUMBAI DATED : 3RD AUGUST, 1996.