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Rhutu Udyog (India) Ltd.

BSE: 531788 Sector: Infrastructure
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Rhutu Udyog (India) Ltd
NSE 05:30 | 01 Jan Rhutu Udyog (India) Ltd

Rhutu Udyog (India) Ltd. (RHUTUUDYOG) - Auditors Report

Company auditors report

RHUTU UDYOG (INDIA) LIMITED AUDITOR'S REPORT To The Share Holders of M/s Rhutu Udyog (India) Limited Secunderabad - A.P. ------------------------------- We have Audited the attached Balance Sheet of M/s Rhutu Udyog (India) Limited, Secunderabad, as at 31st March, 1998 and the Profit and Loss Account for the period ended on that date annexed thereto and report that: 1. As required by the Manufacturing and the Other Companies (Auditor's Report) Orders, 1998 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 and 5 of the said order. 2. Further to the above and subject to our comments in the annexure referred to in paragraph 1 above. 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 referred to in this report are in agreement with the books of account. d) In our opinion and to the best of our information and according to the explanation given to us, the accounts subject to Note No.d regarding Inter Corporate Investments, give a true and fair view. i) In the case of Balance Sheet of the State of Affairs of the Company as at 31st March, 1998. AND ii) In the case of the Profit and Loss Account of the Profit of the period ended on that date. for HARI VARA PRASADA & ASSOCIATES Chartered Accountants Sd/- Place: Secunderabad Y. Hari Vara Prasada Rao Date : 27th June, 1998 Proprietor ANNEXURE TO THE AUDITOR'S REPORT ---------------------------------- a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The management has carried out a physical verification of fixed assets and as explained to us, no serious discrepancies have been noticed on such verifications. b) None of the fixed assets have been revalued during the year. c) The management has conducted physical verification in respect of stocks at reasonable intervals. d) The procedure of the physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business. e) We have been informed no material discrepancies have been noticed on physical verification of stocks as compared to book records. f) The valuation of stocks is fair and proper in accordance with the normally accepted accounting principles. g). The Company has not taken any Loans, Secured or Unsecured from Companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 or from the Companies under the same management as defined under sub-section (1B) of section 370 of the Companies Act, 1956. h). The Company has not granted any Loans Secured of Unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 or from companies under the same management as defined under sub section (1B) of section 370 of the Companies Act, 1956. i). In respect of Loans & Advances in the nature of loans given by the Company, the parties have been reasonably regular in payment of Principal and interest amount, in case of overdues reasonable steps have been taken by the Company for recovery of the overdues. j) In our opinion, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for purchase of stocks and other assets and for the sale of goods. k) In our opinion and according to the information and explanations given to us, the transactions of purchase of goods and materials and services, made in pursuance of contracts, arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year to Rs. 50000/- or more in respect of each party have been made at prices which are reasonable having to the prevailing market prices at which transactions to similar goods, materials or services have been made with other parties. l) On the basis of valuation by persons responsible for physical verification of stocks, there were no unserviceable or damaged stocks. m) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 58-A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1875 with regard to acceptance of deposits. n) In opinion, reasonable records have been maintained by the company for the sale and disposal of scrap. The company has not by products. o) The Company do not have an internal Audit Cell. p) Payment of provident fund and employee's state insurance is not yet applicable to the Company as informed by the Company. q) The Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 for any products of the company. r) According to the information and explanations given to us no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Customs Duty and Excise Duty were outstanding as at 31st March, 1998 for a period more than six months from the date they become payable. s) No personal expenses have been charged to revenue accounts during the year under audit. t) The Company is not a Sick Industrial Company within the meaning of clause (o) of sub-section (1) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985. for HARI VARA PRASADA & ASSOCIATES, Chartered Accountants Sd/- Place:Secunderabad (Y. Hari Vara Prasada Rao) Date :27th June, 1998 Proprietor