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OMC Computers Ltd.

BSE: 517409 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan OMC Computers Ltd
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OMC Computers Ltd. (OMCCOMPUTERS) - Auditors Report

Company auditors report

1995 OMC COMPUTERS LIMITED AUDITOR'S REPORT We have audited the attached Balance Sheet of OMC COMPUTERS LIMITED as at 30th June, 1995 and the Profit and Loss Account for the year ended on that date annexed thereto and report that: 1. 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 purpose of our audit. b) 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 such books. c) The Balance Sheet and Profit and Loss Account are in agreement with the Books of Account. d) The dividend declared for the year 1991-92 on 21.12.1992 has not been paid till the date of Balance Sheet, as, in the terms of agreement with financial institutions dividend can be paid only after paying the overdue interest to them. e) No provision has been made in respect of sundry debtors considered doubtful Rs. 3,22,46,779. f) Short fall (if any) in realisation of sundry debtors, loans and advances and claims receivable (considered good). In our opinion, the eventual recoverability of a part of the amounts is doubtful. However, we are unable to express an opinion on the quantum thereof. g) i) As stated in Note 13 reconcilation of certain bank accounts is yet to be completed. ii) As stated in Note 15 no account has been taken in respect of penal interest and liquidated damages aggregating to Rs. 104.00 lacs. In respect of the matters stated in items f and g above, we are unable to, owing to our inability to comment on the eventual outcome of the issues involved, comment on the consequential effect on the loss for the year ended on 30th June, 1995 and the Reserves and Surplus as at 30th June, 1995. h) Subject to our remarks in paragraph d,e,f and g above and read with Note 16 and the other notes annexed to and forming part of the accounts, in our opinion, and to the best of our information and according to the explanations given to us, the accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view. i) Insofar as it relates to the Balance Sheet of the state of affairs of the company as at 30th June, 1995, and ii) Insofar as it relates to the Profit and loss Account of the Loss of the Company for the year ended on that date. For M. BHASKARA RAO & CO., CHARTERED ACCOUNTANTS PARTNER Place : Hyderabad,