VINAYAK INDUSTRIES LIMITED
We have audited the attached Balance Sheet of VINAYAK INDUSTRIES LIMITED as
at 31st March, 1995 and Profit & Loss Account for the, year ended on that
date annexed thereto and report that:
1. Further to our comment
a. We have obtained all information and explanations which is to the best
of our knowledge and belief were necessary for the purpose of 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 Profit & Loss Account dealt with in this report
are in agreement with the books of account.
d. Attention is invited to the following notes on Schedule R:
(i) Depreciation on lasts amounting to Rs. 3637713.00 not provided as per
Schedule XIV of The Companies Act, 1956. (Refer Note No.7)
(ii) Loan and Advances includes a sum of Rs. 11890358.00 due from a company
under the same management for purchase of shares is subject to prior
permission of general meeting and Central Government as per provisions for
Section 372(4) of The Companies Act, 1956.(Refer Note No.9)
e. Subject to the foregoing in our opinion and to the best of our
information and according to the explanation given to us the said accounts
give the information required by The Companies Act, 1956 in the manner
required and give true and fair view.
i) In the case of the Balance Sheet of the state of affairs of the company
as on 31st March 1995.
ii) In the case of Profit & Loss Account for the year ended on that date.
For AGGARWAL & SINGLA
(V. S. AGGARWAL)
Place : Delhi
Dated : 8th September, 1995.