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67
Annexure
to the Report of the Auditors
x. The Company has no accumulated losses as at the
end of the financial year and it has not incurred any
cash losses in the financial year ended on that date
or in the immediately preceding financial year.
xi. According to the records of the Company examined
by us and the information and explanation given to
us, the Company has not defaulted in repayment
of dues to any financial institution or bank or
debenture 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 chit fund | nidhi| mutual benefit fund | societies
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
for loans taken by others from banks or financial
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, the
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
Anish P Amin
Mumbai
Partner
May 02, 2014
Membership Number: 040451