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Auroma Coke Ltd.

BSE Live

Oct 20, 16:00
4.70 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
342
10-Day
255
30-Day
358
825
  • Prev. Close

    4.70

  • Open Price

    4.62

  • Bid Price (Qty.)

    4.62 (12)

  • 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)

Auroma Coke 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 accompanying financial statements of Auroma Coke Limited (the Company), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss and the 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 The company''s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (the Act) with respect to 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 principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, 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 have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. 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 misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and the 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 financial control relevant to the Company''s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company''s Directors, 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 on the financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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, of the state of affairs of the Company as at 31 March 2015 and its loss and its cash flows for the year ended on that date. Emphasis of Matters We draw attention to the following matters in the Notes to the financial statements: Note No. 1.12 of the financial statements which, describes the uncertainty related to the outcome of the case filed against the company by CBI and suspension of supply of raw material under FSA by main supplier BCCL and its consequences. Our opinion is not modified in respect of these matters. Report on Other Legal and Regulatory Requirements 1. As required by the Companies(Auditor''s Report) Order, 2015 (the Order) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order to the extent applicable. 2. As required by Section 143(3)of the Act, we report that : a. We have sought and obtained all the information and explanation 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, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account. d. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified referred to in section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014; e. On the basis of the written representations received from the directors as on March 31, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of Section 164(2) of the Act. f. With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note 1.12 to the financial statements; ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses; iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company. Annexure to Independent Auditors'' Report Referred to in Paragraph 1 under the heading of Report on Other Legal and Regulatory Requirements to the members of the company on the financial statements for the year ended 31st March, 2015, we report that : i. We have been informed that the Company is in the process of preparing fixed assets register. Physical verification of assets has been conducted on selective basis and no discrepancies were noticed during such verification. In our opinion this method of physical verification is reasonable having regard to the size of the Company and the nature of its assets. ii. (a) We have been informed that the management has conducted physical verification of inventories at the year end and no material discrepancies have been noticed on such verification as compared to book records. (b) The procedures followed for such verification are reasonable in relation to the size of the Company and the nature of its business. (c) The company is maintaining proper records of inventory. iii. (a) The company has granted unsecured loans to the bodies corporate covered in the register maintained under section 189 of the Companies Act, 2013 (the Act). (b) There is no stipulation regarding repayment of principal and interest and they are repayable on demand, and the company is receiving the principal and interest as and when demanded. Accordingly, paragraph 3(iii)(b) of the Order is not applicable to the company. (c) There are no overdue amounts of more than rupees one lakh in respect of the loans granted to the bodies corporate listed in the register maintained under section 189 of the Act. iv. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control system. v. We have been informed that the Company has not accepted any deposits as defined under Companies (Acceptance of Deposits) Rules, 2014 read along with other notifications/Rules issued from time to time. Therefore the provisions of Clause (v) of the Order is not applicable to the company. vi. The Central Government has not specified the maintenance of cost records under section 148(1) of the Act for the company. vii. We have been informed that the company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, income tax, sales tax, wealth tax, custom duty, service tax, cess and any other statutory dues with the appropriate authorities, wherever applicable, except with some delays. There has been delay in depositing excise duty, service tax, Tax deducted at Source, Employees State Insurance, Electricity duty and in one case of income tax. However, there are no arrears of outstanding liabilities as at the end of the year for a period of more than six months from the date they became payable, except in case of Sales Tax '' 1.00 lacs, Electricity Duty Rs 0.16 lacs and Income tax Rs 0.64 lacs. There are demands in respect of sales tax dues, which are disputed by the company but the said demands have been adjusted by the department from the input credit available with them. The company is yet to file revision petition / appeals in respect of demands adjusted from input credit or claim for input credit not admitted amounting to Rs 23.56 lacs with the appropriate authorities for the year 2006-07 to 2010-11. According to the information and explanations given to us, the following dues of sales tax / VAT has not been deposited by the company on account of disputes: Name of the Nature of the Amount Period to Forum where Statute dues involved which dispute relate is pending JVAT Act, 2005 Tax & Penalty Rs 43.76 2007-08 Commissioner of Sales Tax JVAT Act, 2005 Tax & Penalty Rs 2.40 2008-09 Commissioner of Sales Tax viii. The company does not have any accumulated losses at the end of the financial year The losses incurred have been adjusted with the balance available in Profit & Loss Account. The company has incurred cash loss during the financial year covered by our audit. No cash loss was incurred in the immediately preceding financial year ix. The company has not defaulted in repayment of dues to any bank or financial institutions. The company has not raised any amount by way of Debentures. x. The company has not given any guarantee for loans taken by others from any bank or financial institutions. xi. Term loans raised were applied for the purposes for which the loans were obtained. xii. Based upon the audit procedures performed and information and explanations given to us, we report that no fraud on or by the company has been noticed or reported during the year during the course of our audit. For AGARWAL KHEMKA & ASOCIATES Chartered Accountants (Registration Number : 314133E) A. K. Agarwal Place : Kolkata Proprietor Date : 30th day of May, 2015 Membership Number : 052791