you are here:

Amalgamated Electricity Ltd.

BSE: 501622 | NSE: | Series: NA | ISIN: INE492N01014 | SECTOR: Finance - Leasing & Hire Purchase

BSE Live

Oct 14, 16:00
18.10 -0.90 (-4.74%)
Volume
AVERAGE VOLUME
5-Day
1,358
10-Day
851
30-Day
438
840
  • Prev. Close

    19.00

  • Open Price

    19.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Amalgamated Electricity is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

1. We have audited the attached Balance Sheet of THE AMALGAMATED ELECTRICITY COMPANY LIMITED as at 31st March 2010, Profit and Loss Account and Cash Flow Statement for the year ended on that date. 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. 2. We conducted our audit in accordance with the 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 (Auditors Report) Order, 2003, issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956, we enclose in the Annexure a Statement on the matters specified in the paragraph 4 and 5 of the said order. 4. Further to our comments in the Annexure referred to in Paragraph (3) 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 the books; c) the Balance Sheet, Profit and Loss Account and the Cash Flow Statement dealt with by this report are in agreement with the Books of Account; d) in our opinion, the Balance Sheet, Profit and Loss Account and the Cash Flow Statement dealt with by this report are in compliance with the Accounting Standards referred to in Section 211(3C) of the Company, 1956 in so far as they apply to Company; e) in our opinion and based on information and explanations given to us, none of the directors are disqualified as on 31st March, 2010 from being appointed as directors in terms of clause (g) of subsection (1) of section 274 of Companies Act 1956; f) in our opinion and to the best of our information and according to the explanations given to us the 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 2010; ii) in the case of the Profit and Loss Account, of the profit for year ended on that date; and iii) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. ANNEXURE TO AUDITORS REPORT Referred to in Paragraph 3 of our Report of even date. (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of the fixed assets. (b) All the assets have been physically verified by the management during the year. No material discrepancies were noticed on such verification. (c) The Company has not disposed off substantial part of the fixed assets during the year, (ii) Considering the activity carried out during the year, in our opinion the provision of clause 4(H) of the Companies (Auditors Report) Order, 2003 are not applicable. (iii) The Company has not granted or taken any loans, secured or unsecured to/from companies, firms or other parties covered in the registered maintained U/s. 301 of the Act. Hence the provision of clause 4 (iii) (a), (b), (c), (d), (e) & (f) of the Companies (Auditors Report) Order 2003 are not applicable. (iv) In our opinion and according to the information and explanations given to us and in view of the activities carried on by the Company, the provision of clause 4(iv) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. (v) According to the information and explanations given to us, we are of the opinion that there were no contracts or arrangements that need to be entered into the register maintained under section 301 of the Companies Act, 1956. Hence the provision of clause 4(v) (a) & (b) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. (vi) The Company has not accepted any deposits from the public during the year, therefore, in our opinion the question of applicability of directives issued by the Reserve Bank of India and the provisions of sections 58A and 58AA of the Act and the rules framed there under does not arise. (vii) Considering the size of business and number of transactions as carried out, the management is of the opinion that the company did not require internal audit system. (viii) As informed to us, the maintenance of cost records has not been prescribed by the Central Government U/s. 209(1 )(d) of the Companies Act, 1956, in respect of the activities carried on by the company. (ix) (a) The Company did not have to pay any undisputed statutory dues except Income Tax and Tax Deducted at source under Income Tax Act, 1961 as under: Nature of Dues Assessment Year Amount Due Date Income Tax 2001-02 3,80,360/- 27/10/2009 2002-03 4,12,659/- 27/10/2009 7,93,019/- However, the company has already paid Rs. 4,50,000/- during the previous year against those tax liabilities. (b) According to the information and explanation given to us, there are no dues of sales tax, income tax, customs duty, wealth tax, excise duty and cess, which have not been deposited on account of any dispute. (x) In our opinion, the accumulated losses of the Company are not more than fifty percent of its net worth. The company has not incurred cash loss during the current financial year and immediate preceding year. (xi) The Company has no dues payable to financial institutions, banks or debenture holders during the year. (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) 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. (xiv) The Company has maintained proper records of the transactions and contracts in respect of shares and debentures and other securities and timely entries have been made therein. (xv) As per the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. (xvi) The Company has not taken term loans during the year. (xvii)The Company has not raised any fund either short term or long term during the year. Accordingly the clause 4(xvii) of the Companies (Auditors Report) Order, 2003 is not applicable to the company. (xviii)The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained U/s. 301 of the Act during the year. (xix) The Company has not issued any debentures and hence the question of creating securities thereof does not arise. (xx) The Company has not raised money by public issue during the year. (xxi) According to the information and explanation given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. For GANESH & RAJENDRA ASSOCIATES CHARTERED ACCOUNTANTS (GANESH MEHTA) PARTNER (Membership No. 32939) ICAI Firm Registration No. 103055W MUMBAI, DATED :7th May 2010