MOTHERCARE INDIA LIMITED
We have audited the attached Balance Sheet of MOTHERCARE INDIA LIMITED as
at March 31 st 1995 and also the annexed Profit and Loss Account for the
period ended on that date and report that:
1. We have obtained all the information and explanations which to the best
of knowledge and belief were necessary for the purpose of our audit.
2. In our opinion, proper Books of Account as required by law have not been
kept by the company so far as appears from the examination of the books.
3. The Balance Sheet and Profit and Loss Account are in agreement with the
Books of Accounts.
4. In our opinion and to the best of our information and according to the
explanation given to us, the said accounts together with the accounting
policies and notes thereon give the information required by the Companies
Act, 1956 in the manner so required and subject to
a. Note No. 12 regarding loan to Directors/Relatives of directors awaiting
b. Note No. 13 regarding non-confirmation of balances due from/to certain
parties/suppliers which are disputed/under reconciliation, the impact of
which on the accounts of the company is material, in our opinion it is not
c. Note No. 15 regarding non-payment of dividend declared and non-
remittance of balance of unpaid dividend to a separate bank account.
d. Note No. 18 regarding certain contracts with a company requiring
e. On account of deficiencies in stock records at branches we are not in a
position to express our opinion on adequacy of valuation of closing stock
in the absence of adequate stock records.
f. Non creation of paripassu charge and non provision of outstanding
liabilities in favour of Canara Bank Mutual Fund of Rs. 9.70 lacs towards
Debenture interest, premium on redemption and other charges vide Note No.
10 & 11.
GIVE A TRUE AND FAIR VIEW :-
a. In the case of Balance Sheet, of the state of affairs of the Company as
at March 31, 1995 and
b. In the case of the Profit and Loss Accounts of the profit for the year
ended on that date.
For M.K. DANDEKER & CO.,
Place : Bangalore
Dated : 21st June, 1996.