I. Previous years figures have been regrouped wherever necessary.
II. Balances of creditors, Loans & Advances and Debtors are subject to
confirmation by the parties concerned.
III. In respect of sales tax/income tax liability company does not
expect any more liability than provided in the books of accounts.
IV. Expenditure on Employees getting remuneration not less Rs.
300000/- per year employed throughout the year and Rs. 25000/- per
month employed for part of year.
V. We relied on vouchers duly certified by the Assessee wherever
original bills are not available during the test checked conducted in
the course of our audit.
VI. In the opinion of the Directors of the Company the current assets,
Loans & Advances appearing in the balance sheet are approximately of
the value as stated if realized in the ordinary course of business.
VII. Cash on hand at the year end certified by the management. Moreover
we are not physically Verified the Cash Balance as on 31-03-2012.
VIII. We are unable to express our opinion regarding diminution, if any,
in the value of the investments as no documentary evidence were
available or verification/judgment of the same.
IX. Although the working of Plant & Machinery and other assets were
not effective during the year under review, So the depreciation on
assets have not been accounted to give effects of decrease in value of
X. During the year 1997-989 company has taken loan from Different
Institute like GIDC, GNFC, Bank of India Cash Credit, GSFC, and
Management has not provided any data for same loan. So, we are unable
to express any opinion on the Status of Loans Taken & Repayment as the
same were outstanding for a long Period. This all loan are also
Personally Granted by Shri H. P. Khetan and Govindram Khetan.