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Ajcon Global Ltd.

BSE Live

Feb 13, 16:00
22.80 0.70 (3.17%)
Volume
AVERAGE VOLUME
5-Day
283
10-Day
167
30-Day
1,192
30
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    22.10

  • Open Price

    22.10

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    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

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Ajcon Global is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

We have audited the attached Balance Sheet of AJCON GLOBAL SERVICES LIMITED as at 31st March 2007 and also the Profit and Loss Account and Cash Row Statement for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit 1. 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 the reasonable basis for our opinion. 2. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government in terms of Section 227 (4A) 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. 3. Further to our comments in the Annexure referred to in Paragraph 2 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 purposes 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, Profit & 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 & Loss account and Cash Flow Statement comply with the accounting standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956 to the extent applicable to the Company; e) On the basis of written representations received, from the Directors as on 31s1 March, 2007 and taken on records by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2007 from being appointed as a Director in terms of clause (g) of the sub section (1) of the 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, ihe said accounts read with the Significant Accounting Policies and other notes thereon, 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 Balance sheet, of the state of affairs of the Company as at 31a March 2007, ii) In the case of the Profit & Loss Account, of the profit for ihe year ended on 31* March 2007, iii) in the case of the Cash Flow Statement, of the cash flows for the year ended on 31a March 2007. ANNEXURE OF AUDITORS REPORT (Referred to in Paragraph (2) of our report of even date) 1. a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets. b) As explained to us, physical verification of a major portion of fixed assets as at 31s1 March, 2007 was conducted by the management during the year. In our opinion, the frequency of physical verification is reasonable having regard to the size of the nature of its assets. No material discrepancies were noticed on such physical verification. c) During the year, the Company has not disposed off any Fixed Assets and therefore the going concern status of the Company is not affected. 2. In respect of inventories, a) Companys inventory comprises of only the shares and securities. The Management during the year has physically ventied these stocks which were not in dematerialised form and the rest were verified through demat statements of depositaries. In our opinion the frequency of such verification was reasonable. b) The Company has maintained proper records of inventories. As explained to us, there was no material discrepancies noticed on physical verification of inventories as compared to the book record. 3. In respect of loans, secured or unsecured, granted or taken by the Company to and from companies, firms or other parties covered in the Register maintained under Section 301 of the companies Act, 1956; The Company has granted interest free loans of Rs. 52.30 lacs( Rs. 60.00 Lacs) to its subsidiary Company, There are no stipulations as regards repayment of the said loan amount and hence the question of overdue amounts does not arise. 4. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchases of equipments and other assets and with regards to the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control. 5. To the best of our knowledge and belief and according to the information and explanations given to us by the management, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered. 6. The Company has not accepted any deposits from public. 7. In our opinion, the Company has an internal audit system commensurate with the size of the Company and nature ot its business. 8. The Central Government has not prescribed maintenance of cost records under section 209(1) (d) of the Companies Act 1956. 9. According to the records, the Company was not required to pay any provided fund amount The undisputed amounts payable in respect of taxes, wealth tax, service tax, sales tax, customs duty, excise duty, and any other statutory dues have generally been deposited regularly with the concerned authorities. 10. The Company does not have any carry forward losses and also not incurred cash loss either during the year or in the immediately preceding financial year. 11. According to the information and explanation given to us by the Management, the Company has not defaulted in scheduled repayment of dues to banks and financial institutions. 12. Based on our examination of the records and the information and explanation given to us, the Company has not granted any loans and advances 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 or a nidhi / mutual benefit fund / society. Therefore the provisions of clause 4 (xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. 14. The Company is dealing and trading in shares, securities, debentures and other investments and has maintained proper records of the transactions and contracts and timely entries are made therein. All the shares, securities, debentures and other securities have been held by the Company in its own name except to the extent of exemption granted under Section 49 of the Act. 15. According to the information and explanation given to us, the Company has not given any guarantee for loans taken by other from Bank or Financial Institutions. 16. According to the information and explanations given to us, the term loan from Bank during the year has been applied by the Company for the purpose for which loan was obtained. 17. According to the information and explanations given to us and on an 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 and vice versa. 18. During the year, the Company has not made preferential allotment of Equity Shares to the pandas and companies covered in the Register maintained under section 301 of the Companies Act, 1956. 19. The Company has not issued any Debentures. 20. The company has not raised any money through public issue during the year. 21. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year. For G.N, SHANBHAG & CO. Chartered Accountants G.H. Shanbhag Mumbai (Proprietor) 30th June, 2007 Membership No. 32057