PREMIER PLANTATIONS LIMITED
ANNUAL REPORT 2006-2007
THE MEMBERS OF
PREMIER PLANTATIONS LIMITED
1. We have audited the attached Balance Sheet of M/S. PREMIER PLANTATIONS
LIMITED as at 31st March 2007 and the annexed Profit and Loss Account and
Cash flow Statement of the Company for the year ended on that date. these
financial statements are the responsibility of the Company's management. My
responsibility is to express all opinion on these financial statements
based on my audit.
2. We conducted my 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. All audit includes examining on a test
basis evidence supporting the amounts and disclosure in the financial
statements. An audit also includes assessing the accounting principles used
and significant estimates made by the management, as well as evaluating the
overall financial statements presentation. We believe that my audit
provides a reasonable basis for my opinion.
3. As required by the Companies (Auditor's Report) Order, 2003 issued by
the department of Company Affairs in terms of Section 227(4A) of the
Companies Act 1956. We give in the Annexure, a statement of the matters
specified in paragraphs 4 & 5 of tile said Order.
4. Further to my comments in the Annexure referred to above we report that:
a) We have obtained all the information and explanation which, to the best
of my knowledge and belief were necessary for the purpose of my audit.
b) In my opinion proper books of Account as required by law, have been kept
by the company so far appears from my examination of the books.
c) The Balance Sheet and Profit & Loss Account dealt with by this report,
are in agreement with the books of account.
d) In my opinion, the Balance Sheet, Profit & Loss Account and cash flow
statement dealt with by this report are in compliance with the Accounting
Standards referred to in Section 211(3C) of the Companies Act, 1956, in so
far as they are applicable to the Company.
e) On the basis of written representations received from the Directors and
taken on record by the Board of Directors we report that none of the
Directors is disqualified as on 31st March 2007 from being appointed as a
director in terms of clause (g) of sub-section (1) of Section 274 of the
Companies Act, 1956.
f) In my opinion and to the best of my information and according to the
explanations given to me, the said Accounts read 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 in conformity with the
accounting principles generally accepted in India:
i) In the case of the Balance Street, of the state of affairs of the
Company as at 31st March 2007; and
ii) In the case of Profit and Loss account of the Net Loss of the Company
for the period ended on that date.
iii) In the case of case the Cash Flow Statement, of the cash flow for the
year ended on that date.
Place: Aluva PRADEEP KUMAR P.
Date : 01.09.2007 Chartered Accountant
ANNEXURE REFERRED TO IN PARAGRAPH 3 OF MY REPORT OF EVENDATE
1) As informed to me the company had no fixed assets.
2) As informed to me there was no inventory during the year.
3) As informed to me, the Company has not granted or taken any loans,
secured or unsecured to from Companies, firms or other parties covered in
the Register maintained under Section 301 of the Companies Act, 1956.
4) In my opinion and according to the information and explanation given to
me, internal control procedures are not applicable as the company had no
business with regard to the purchases of inventory, plant and machinery,
equipment and other assets and with regard to the sale of goods.
5) In my opinion and to the best of my knowledge and belief and according
to the information and explanations given to me, there are no transactions
that need to be entered in the Register maintained under Section 301 of the
Companies Act, 1956.
6) The Company has not accepted any deposit from public and consequently,
the directives issued by the Reserve Bank of India, and the provisions of
sections 58A and 58AA of the Companies Act, 1956 and the rules framed there
under are not applicable to the Company.
7) In my opinion and according to information given to me the company had
no internal audit system as the company had no business during the year.
8) According to the information and explanations given to me the Central
Government has not prescribed maintenance of cost records under section
209(1)(d) of the Companies Act, 1956 for any of the business of the
9) According to the explanations and information given to me provisions of
the Provident Fund Act and Employees State Insurance is not applicable to
10) According to the information and explanations given to me, there are no
undisputed amounts payable in respect of Income Tax, Sales tax, Wealth Tax,
Customs Duty, Excise Duty, Cess and any other statutory dues with the
appropriate authorities were outstanding as at 31st March, 2007, for a
period of more than six months from the date they became payable.
11) The accumulated losses for the Company at the end of the financial year
amounted to Rs.63629338/-.
12) The Company has not granted any loans and advances on the basis of
security by way of pledge of shares, debentures and other securities.
13) In my opinion, the Company is not a chit fund or a nidhi/mutual benefit
fund/society. Therefore the provisions of clause 4(xiii) of the Companies
(Auditors Report) Order, 2003 are not applicable to the Company.
14) The Company has not dealt in shares, securities, debentures and other
investments during the year.
15) The Company has not given any guarantee for loans taken by others from
bank or financial institutions.
16) The Company has not obtained any term loans during the year and there
was no unutilized term loan at the beginning of the year.
17) According to the information and explanations given to me and on an
overall examination of the Balance sheet of the Company, we report that no
funds raised on short-term basis have been used for long term investment or
vice versa by the Company.
18) The Company has not made any preferential allotment of shares to
parties and companies covered in the Register maintained under section 301
of the Act.
19) According to the information and explanations given to me, the Company
has not issued any debentures.
20) The Company has not made any public issues during the year.
21) According to the information and explanations given to me, no fraud on
or by the Company has been noticed or reported during the course of my
Place: Aluva Pradeep Kumar P.
Date : 01.09.07 Chartered Accountant