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59
Annexure
to the Report of the Auditors
There were no dues towards service tax and wealth
tax as at March 31, 2012 which has not been
deposited on account of any dispute.
x. The Company has no accumulated losses as at
March 31, 2012 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 explanations 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.
xiii. The provisions of any special statute applicable to
chit fund | nidhi | mutual benefit fund | societies
are not applicable to the Company.
xiv. In our opinion, the Company is not a dealer or
trader in shares, securities, debentures and other
investments.
xv. In our opinion and according to the information and
explanations given to us, the terms and conditions
of the corporate guarantees given by the Company,
for loans taken by a subsidiary company and 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, on an overall basis,
the term loans have been applied for the purposes
for which they were obtained.
xvii. On the basis of an overall examination of the
Balance Sheet of the Company, in our opinion and
according to the information and explanations
given to us, there are no funds raised on a
short-term basis which 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.
xix. The Company has not issued any debentures
during the year and does not have any debentures
outstanding as at the year end.
xx. The Company has not raised any money by public
issues during the year.
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 fraud on or by the Company,
noticed or reported during the year, nor have we
been informed of such case by the Management.
For and on behalf of
Dalal & Shah
Firm Registration No. 102020W
Chartered Accountants
S Venkatesh
Mumbai
Partner
May 15, 2012
Membership No. F-037942