SENSEX NIFTY
Bisil Plast | Auditor's Report > Packaging > Auditor's Report from Bisil Plast - BSE: 531671, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > PACKAGING > AUDITORS REPORT - Bisil Plast
Bisil Plast
BSE: 531671|ISIN: INE214D01021|SECTOR: Packaging
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Oct 23, 17:00
0.51
0.02 (4.08%)
VOLUME 5,000
Bisil Plast is not listed on NSE
« Mar 12
Auditor's Report (Bisil Plast) Year End : Mar '13
Report on the Financial Statements
 
 We have audited the accompanying financial statements of BISIL PLAST
 LIMITED (the Company), which comprise the Balance Sheet as at March
 31, 2013, and the Statement of Profit and Loss and Cash Flow Statement
 for the year then ended, and a summary of significant accounting
 policies and other explanatory information.
 
 Management''s Responsibility for the Financial Statements
 
 Management is responsible for the preparation of these financial
 statements that give a true and fair view of the financial position,
 financial performance and cash flows of the Company in accordance with
 the Accounting Standards referred to in sub-section (3C) of section 211
 of the Companies Act, 1956 (the Act). This responsibility includes
 the design, implementation and maintenance of internal control relevant
 to the preparation and presentation of the financial statements that
 give a true and fair view and are free from material misstatement,
 whether due to fraud or error.
 
 Auditor''s Responsibility
 
 Our responsibility is to express an opinion on these financial
 statements based on our audit. We conducted our audit in accordance
 with the Standards on Auditing issued by the Institute of Chartered
 Accountants of India. Those Standards require that we comply with
 ethical requirements and plan and perform the audit to obtain
 reasonable assurance about whether the financial statements are free
 from material misstatement.
 
 An audit involves performing procedures to obtain audit evidence about
 the amounts and disclosures in the financial statements. The procedures
 selected depend on the auditor''s judgment, including the assessment of
 the risks of material misstatement of the financial statements, whether
 due to fraud or error. In making those risk assessments, the auditor
 considers internal controls relevant to the Company''s preparation and
 fair presentation of the financial statements in order to design audit
 procedures that are appropriate in the circumstances. An audit also
 includes evaluating the appropriateness of accounting policies used and
 the reasonableness of the accounting estimates made by management, as
 well as evaluating the overall presentation of the financial
 statements.
 
 We believe that the audit evidence we have obtained is sufficient and
 appropriate to provide a basis for our audit opinion.
 
 Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us, the financial statements give the information
 required by the Act in the manner so required and give a true and fair
 view in conformity with the accounting principles generally accepted in
 India:
 
 (a) In the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31, 2013;
 
 (b) In the case of Statement of Profit and Loss, of the Loss for the
 year ended on that date ; and
 
 (c) In the case of the Cash Flow Statement, of the cash flows for the
 year ended on that date.
 
 Report on Other Legal and Regulatory Requirements
 
 1.  As required by the Companies (Auditor''s Report) Order, 2003 (the
 Order) issued by the Central Government of India in terms of
 sub-section (4A) of section 227 of the Act, we give in the Annexure, a
 statement on the matters specified in paragraphs 4 and 5 of the Order.
 
 2.  As required by section 227(3) of the Act, 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, Statement of Profit and Loss, and Cash Flow
 Statement dealt with by this Report are in agreement with the books of
 account,
 
 d.  In our opinion, the Balance Sheet, Statement of Profit and Loss,
 and Cash Flow Statement comply with the Accounting Standards referred
 to in subsection (3C) of section 211 of the Companies Act, 1956 subject
 to;
 
 e.  On the basis of written representations received from the directors
 as on March 31, 2013, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31, 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.  Since the Central Government has not issued any notification as to
 the rate at which the cess is to be paid under section 441A of the
 Companies Act, 1956 nor has it issued any Rules under the said section,
 prescribing the manner in which such cess is to be paid, no cess is due
 and payable by the Company.
 
 ANNEXURE TO THE AUDITORS'' REPORT
 
 (Referred to in paragraph (1) of our report of even date)
 
 1.  i) The company has maintained proper records showing full
 particulars including quantitative details & situation of fixed assets.
 
 ii) All the assets have been physically verified by the management at
 reasonable period during the year. No material discrepancies were
 noticed on such verification.
 
 iii) In our Opinion and according to the information and explanation
 given to us substantial part of fixed assets has not been disposed off
 by the company during the year.
 
 2.  The company does not have any stocks. Therefore the requirements of
 clauses (ii)(a), (ii)(c) of Para 4 of the order are not applicable.
 
 3.  The Company has not granted any loan to companies, firms or other
 parties covered in the register maintained under section 301 of the
 companied Act,1956.
 
 4.  In our opinion and according to the information and explanations
 given to us, there are adequate internal control procedures
 commensurate with the size of the company and the nature of the
 business with regard to purchase of inventory & fixed assets and with
 regard to sales of goods. During the course of our audit , we have not
 observed any continuing failure to correct major weaknesses in internal
 control.
 
 5.  As per the information given to us, there are No transactions with
 the parties that are entered into the register maintained under section
 301 of the Act.
 
 6.  In our opinion and according to the information and explanation
 given to us, the company has not accepted any deposits from the public
 so the clause (vi) of the Paragraph 4 is not applicable to the company.
 
 7.  The Company does not have any Internal Auditor or any special
 department/cell for Internal Audit, but looking towards the quantum &
 value of transactions and the Internal Control Procedures, the company
 has enough control over the transactions of the business.
 
 8.  The Central Government has not prescribed the maintenance of Cost
 Records in respect of the Company, under section 209 (1) (d) of the
 Companies Act, 1956.
 
 9.  i) The company is regular in depositing with appropriate
 authorities undisputed statutory dues of Income-tax, Wealth-tax, Custom
 Duty, excise duty, sales tax, ESIC, P.F., and any other statutory dues
 applicable to it with the appropriate authorities.
 
 ii) At the last day of the financial year, according to the records of
 the company and the information and explanations given to us, there
 were no dues of custom duty, wealth tax and cess which have not been
 deposited on account of any dispute.
 
 10.  The Company has accumulated losses at the ended of the financial
 year and it has incurred cash losses in the financial year under report
 and the immediately preceding financial year.
 
 11.  We are of the opinion that the company has not granted any loans
 and advances on the basis of security by way of pledge of. shares,
 debenture and other securities.
 
 12.  In our opinion, the company is not a chit fund or a nidhi/ mutual
 benefit fund/society. Therefore, the provisions of clause 4(xiii) of
 the Companies (Auditor''s Report) Order, 2003 are not applicable to the
 company.
 
 13.  As per the records of the Company and the information and
 explanation given to us, the management of the company is not dealing
 or trading in shares, securities, and debentures and other investments.
 
 14.  According to the records of the company, and the information and
 explanation provided by the management, the company has not given any
 guarantee for loans taken by others from bank or financial institution.
 
 15.  According to the records of the Company, the Term Loan was applied
 for the purpose for which the loan was taken
 
 16.  According to the information and explanation given to us and on
 overall examination of the Balance Sheet of the company, we report that
 no funds raised on short term basis have been used for long term
 investment. No long term funds have been used to finance short term
 assets except for permanent working capital.
 
 17.  According to the information and explanation given to us, 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.
 
 18.  According to the information and explanation given to us the
 company has not issued any debentures during the year.
 
 19.  The Company has not raised monies by public issue during the year.
 
 20.  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
 explanation given to us, we have neither came across any instance of
 fraud on or by the Company, nor such type of the case been reported of
 information to us by the management.
 
 
 
                                                      For SHAH & DALAL
                                                 Chartered Accountants 
                                                 Firm Reg. No. 109432W
 
 
 
 Place : Ahmedabad                                      Malay J. Dalal
 Date :30.05.2013                                              Partner
                                                          M. No. 36776
Source : Dion Global Solutions Limited
Quick Links for bisilplast
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.