TRIA FINE CHEM LIMITED
We have audited the attached Balance Sheet of TRIA FINE-CHEM LIMITED as at
31st March, 1996 and the Statement of Expenditure during Construction
Period, of the company for the year ended on that date annexed thereto and
1. Further 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 the books.
(c) The Balance Sheet and Statement of Expenditure during Construction
Period dealt with by this report are in agreement with the books of
(d) The company had agreed to take certain items of plant and machinery on
lease from a finance company on specified monthly lease rentals. The
finance company failed to make payment for the machines in full.
Consequently, the revision of monthly lease rentals is under negotiation.
Pending a decision in the matter, the company has debited payments
aggregating Rs. 41,71,520 on account of lease rentals and other charges to
the said party's account and will transfer them to relevant accounts after
fixation of revised lease rentals. Since, the company has not yet started
production, the said accounting treatment has no bearing on the profit /
loss of the company.
Subject to the above in our opinion and to the best of our information and
according to the explanations given to us, the said accounts read with
notes thereon 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 31st, March, 1996 and
(II) in the case of the Statement of Expenditure during Construction
Period, of the expenditure for the year ended on that date.
For CHATURVEDI SK & FELLOWS
S. K. CHATURVEDI
Place : MUMBAI
Dated : 24th August, 1996.