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Osho Ceramics Ltd.

BSE: 515095 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Osho Ceramics Ltd
NSE 05:30 | 01 Jan Osho Ceramics Ltd

Osho Ceramics Ltd. (OSHOCERAMICS) - Auditors Report

Company auditors report

ANNUAL REPORT 1999-2000 OSHO CERAMICS LIMITED AUDITORS' REPORT TO THE MEMBERS OF OSNO OSHO CERAMICS LIMITED We have audited the attached Balance Sheet of OSHO CERAMICS LIMITED as at 30th June 2000 and Profit & Loss A/c of the company for the period ended on that date annexed there to and report that: 1. As required by the Manufacturing & other Companies (Auditors Reports) order, 1988 issued by the Company Law Board in terms of Section 227 (4A) of the Companies Act, 1956. We enclose in the annexure a statement on the matters specified in paragraph 4 & 5 of the said order. 2. Further to our comments in the Annexure referred to in paragraph 1 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 purpose of our audit; b. In our opinion, proper books of accounts, as required by law have been kept by the company so far as appears from our examinations of these books; c. The Balance Sheet and the Profit & Loss A/c dealt with by the report are in agreement with the books of account, and d. In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with 'NOTES' appearing in Schedule 'Q' give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view :- i. In the case of the Balance Sheet, of the State of Affairs of the Company as at 30 June, 2000, and; ii. In the case of the Profit and Loss A/c, of the Loss of the Company for the period ended on that date. for S.C. Thakral & Co., Chartered Accountants (S.C. Thakral) Dated: 27-11-2000 Partner ANNEXURE TO AUDITOR'S REPORT Referred to in paragraph (A) in our Report of even date. 1. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The fixed assets of the company has been physically verified by the Management at the end year and no serious discrepancy has been noticed by the Management on such verification. 2. None of the Fixed Assets of the Company have been revalued during the period. 3. Physical verification has been conducted by the Management at reasonable intervals in respect of finished goods, stores and spares and raw materials. 4. The Procedures of physical verification of stocks followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of the business. 5. The discrepancies noticed on physical verification of stocks as compared to book records were not material and the same had been property dealt within the books of accounts. 6. The valuation of the above mentioned stock is considered fair and proper and in accordance with the normally accepted accounting principles. 7. The terms of loans taken from the companies, firms 8 other parties listed in the register maintained under Section 301 and 370 (1 B) of the Companies Act, 1956, are not prima facia prejudicial to the interests of the company. 8. The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties listed in the Register maintained under Section 301 and/ or to the Companies under same Management as defined under sub-section (1B) of the Section 370 of the Companies Act, 1956. 9. The company has not entered into contract or agreement entered In the register maintained under section 301 of the Companies Act, 1956. 10. The Company has not accepted any deposits from the public the year under review. 11. The company has remained close during the whole year, therefore, no comments has been made on the internal audit system of the company. 12. The central government has not prescribed the maintenance of cost records under Section 209 (i) of the Companies Act, 1956 for the product of the company. 13. According to the informations and explanations given to us provident fund and ESI Act is not applicable on the company. 14. As explained to us, no undisputed amounts payable in respect of Income- tax, Wealth-tax, Custom Duty and Excise duty were outstanding at last day of this financial year for a period of more than six months. 15. According to the information given to us, no personal expenses have been charged to revenue accounts. 16. The Company is a Sick-Industrial Company within the meaning of Clause (O) of Sub-Section 1 to Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985. 17. On other points, no comments have been made as the company was not in production for S.C. Thakral & Co., Chartered Accountants (S.C. Thakral) Dated: 27-11-2000 Partner