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Atul Ltd
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Annual Report 2009-10
1. We have audited the attached Balance Sheet of Atul
Ltd as at March 31, 2010 and the related Profit and Loss
Account and Cash FlowStatement for the year ended on
that date annexed thereto, which we have signed under
reference to this report. These financial statements are
the responsibility of the Management of the Company.
Our responsibility is to express an opinion on these
financial statements based on our audit.
2. We conducted our audit in accordance with the
auditing standards generally accepted in India.
Those Standards require that we plan and perform
the audit to obtain reasonable assurance about
whether the financial statements are free of material
misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also
includes assessing the accounting principles used
and significant estimates made by Management,
as well as evaluating the overall financial statement
presentation. We believe that our audit provides a
reasonable basis for our opinion.
3. As required by the Companies (Auditors’ Report)
Order, 2003, as amended by the Companies
(Auditors’ Report) (Amendment) Order, 2004
(together the “Order”), issued by the Central
Government of India in terms of sub-section (4A) of
Section 227 of ‘The Companies Act, 1956’ of India
(the ‘Act’) and on the basis of such check of the
books and records of the Company as we considered
appropriate and according to the information and
explanations given to us, we give in the Annexure a
statement on the matters specified in paragraphs 4
and 5 of the Order.
4. Further to our comments in the Annexure referred to
in paragraph 3 above, 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 those books;
Report of the Auditors
to the Members
(c) The Balance Sheet, Profit and Loss Account and
Cash Flow Statement dealt with by this report are
in agreement with the books of account;
(d) In our opinion, the Balance Sheet, Profit and Loss
Account and Cash Flow Statement dealt with by
this report comply with the accounting standards
referred to in sub-section (3C) of Section 211 of
the Act;
(e) On the basis of written representations received
from the Directors, as on March 31, 2010 and
taken on record by the Board of Directors, none
of the Directors is disqualified as on March 31,
2010 from being appointed as a Director in terms
of clause (g) of sub-section (1) of Section 274 of
the Act;
(f) In our opinion and to the best of our information
and according to the explanations given to us,
the said financial statements together with the
notes thereon and attached thereto give, in the
prescribed manner, the information required by
the Act, and give a true and fair view in conformity
with the accounting principles generally accepted
in India:
(i) in the case of the Balance Sheet, of the state of
affairs of the Company as at March 31, 2010;
(ii) in the case of the Profit and Loss Account, of
the profit for the year ended on that date; and
(iii) in the case of the Cash Flow Statement, of the
cash flows for the year ended on that date.
For and on behalf of
Dalal and Shah
Firm Registration Number 102020W
Chartered Accountants
S Venkatesh
Mumbai
Partner
July 19, 2010
Membership Number 037942
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