Atul Ltd 2012-13

59 Annexure to the Report of the Auditors x. The Company has no accumulated losses as at the HQG RI WKH ÀQDQFLDO \HDU DQG LW KDV QRW LQFXUUHG DQ\ FDVK ORVVHV LQ WKH ÀQDQFLDO \HDU HQGHG RQ WKDW GDWH RU LQ WKH LPPHGLDWHO\ SUHFHGLQJ ÀQDQFLDO \HDU xi. According to the records of the Company examined by us and the information and explanations given to us, it has not defaulted in repayment of dues WR DQ\ ÀQDQFLDO LQVWLWXWLRQ RU EDQN RU GHEHQWXUH holders as at the Balance Sheet date. xii. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of Clause 4(xii) of the Order are not applicable. xiii. As the provisions of any special statute applicable to FKLW IXQG _ QLGKL _ PXWXDO EHQHÀW IXQG _ VRFLHWLHV are not applicable to the Company, the provisions of Clause 4(xiii) of the Order are not applicable. xiv. In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of Clause 4(xiv) of the Order are not applicable. xv. In our opinion, and according to the information and explanations given to us, the terms and conditions of the guarantees given by the Company IRU ORDQV WDNHQ E\ RWKHUV IURP EDQNV RU ÀQDQFLDO institutions during the year, are not prejudicial to the interest of the Company. xvi. In our opinion, and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained. xvii. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that the no funds raised on short-term basis have been used for long-term investment. xviii. 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 during the year. Accordingly, there are provisions of Clause 4(xviii) of the Order are not applicable. xix. The Company has not issued any debentures during the year and does not have any debentures outstanding as at the beginning of the year and at the year end. Accordingly, the provisions of Clause 4(xix) of the Order are not applicable. xx. The Company has not raised any money by public issues during the year. Accordingly, the provisions of Clause 4(xx) of the Order are not applicable. xxi. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of any such case by the Management. For Dalal & Shah Firm Registration Number: 102020W Chartered Accountants S. Venkatesh Mumbai Partner May 07, 2013 Membership Number: 037942