| 1. We have audited the attached Balance Sheet of SURYODAYA PLASTICS
LIMITED as at 31st March, 2013 and also the Profit and Loss Account
for the year ended on that date annexed thereto. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
2. We conducted our audit in accordance with 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 (Auditor's Report)(Amendment) Order,
2003 issued by the Central Government of India in terms of sub-section
(4A) of section 227 of the Companies Act, 1956, we enclose in the
Annexure a statement on the matters specified in paragraphs 4 and 5 of
the said Order.
4. Further to our comments in the Annexure referred to 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 .
(c) The Balance Sheet and Profit and Loss Account dealt with by this
report are in agreement with the books of
(d) In our opinion, the Balance Sheet and Profit and Loss Account dealt
with by this report comply with the accounting standards referred to in
sub-section (3C) of section 211 of the Companies Act, 1956.
(e) On the basis of written representations received from the
directors, as on 31st March, 2013 and taken on record by the Board of
Directors we report that none of the directors is disqualified as on
31st March, 2013 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Companies Act, 1956.
(f) In our opinion and to the best of our information and according to
the explanations given to us, they said accounts give the information
required by the Companies Act, 1956, in the manner so required 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 31st March, 2013 and
(ii) in the case of the Profit and Loss Account, of the profit or loss
for the year ended on that date.
(iii) in case of the Cash Flow Statement, of the cash flows of the
Company for the year ended on that date.
1 In respect of Its Fixed Assets
a The Company has maintained proper records showing full particulars
including quantitative details and situation of fixed assets on the
basis of available information .
b The Company Does not have any fixed assets as a result of this, the
going concern status of the company is affected.
2 In respect of Its Inventories
As per informations & explanations given to us & taking into
consideration the nature of the business of the company .this clause is
not applicable.
3 In respect of loans, secured or unsecured, granted or taken bv the
company to/from companies, firms or other parties covered In the
register maintained under Section 301 of the Companies Act 1956.
(iii) The Company has neither granted nor taken any loans, secured or
unsecured to or from companies, firms or other parties covered in the
register maintained under Section 301 of the Companies Act, 1956.
4 In respect of internal control procedures
As per informations & explanations given to us & taking into
consideration the nature of the business of the company .this clause is
not applicable.
5 As explained to us there has not been any transaction during the year
that need to be entered in the register maintained under section 301 of
the Companies Act 1956 and exceeding during the year to Rs. 5,00,000 or
more in respect of each such party.
6 The company has not accepted any deposits from the public.
7 In respect of Internal audit system of the company
As per informations & explanations given to us & taking into
consideration the size and the nature of the business of the company
this clause is not applicable.
8 In respect of maKenance of Cost Records u/s 209(1 Kd) of the
Companies Act 1956.
As per informations & explanations given to us & taking into
consideration the size and the nature of the business of the company
this clause is not applicable.
9 In respect of undisputed statutory dues
According to the information and explanations given to us, there are no
undisputed statutory dues payable in respect of Provident Fund,
Investor Education and Protection Fund, Employees State Insurance,
Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise
Duty , cess which are outstanding as at for a period of more than six
months from the date they became payable.
10 In respect of accumulated losses & Cash Losses
The company has accumulated losses exceeding 50% of net worth. The
company have incurred loss of Rs. 1,02,780/- during the year covered by
our audit and accumulated losses of Rs. 7,23,29,263/- as on 31st
March,2013
11 According to the information and explanations given to us the
company has not taken any loans from any financial institution or bank
or debenture holder.
12 In our opinion and according to the information & explanation given
to us ,no loan and advances have been granted by the company on the
basis of security by way of pledge of shares , debentures and other
securities.
13 In our opinion. the company is not a Chit fund, Nidhi or mutual
benefit Society .therefore, this clause is not applicable to the
company.
14 The company is not dealing or trading in in shares, securities,
debentures and other investments. Hence this clause is not applicable to
the company.
15 According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
bank or financial institutions.
16 As per information and explanations given to us, the company has not
taken any term loans. therefore, this clause is not applicable to the
company.
17 According to the information and explanations given to us, no funds
raised on short-term basis have been used for long-term investment.
Similarly, no funds raised on long term basis have been used for
short-term investment.
18 During the year, the company has not made preferential allotment of
shares to companies, firms or other parties listed in the register
maintained under section 301 of the Companies Act, 1956.
19 The company has not issued any debentures. Hence the requirements of
clause (xix) of paragraph 4 of the Order is not applicable to the
company.
20 The company has not raised any money by way of public issues during
the year.
21 In our opinion & according to the information and explanations given
to us, a fraud on or by the company has not been noticed or reported
during the year.
For RAMAN S. SHAH & ASSOCIATES
CHARTERED ACCOUNTANTS
(Registration No 119891W)
CA RAMAN S. SHAH (PARTNER)
MEMBERSHIP NO :- 33272
PLACE : GUMMIDIPOONDI
DATE : 29.5.2013
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