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AVT Natural Products Ltd.

BSE: 519105 | NSE: AVTNPL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE488D01021 | SECTOR: Edible Oils & Solvent Extraction

BSE Live

Jan 18, 16:00
83.40 -2.50 (-2.91%)
Volume
AVERAGE VOLUME
5-Day
23,724
10-Day
24,040
30-Day
17,438
9,613
  • Prev. Close

    85.90

  • Open Price

    86.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Jan 18, 16:09
83.10 -3.00 (-3.48%)
Volume
AVERAGE VOLUME
5-Day
267,258
10-Day
226,096
30-Day
160,569
129,144
  • Prev. Close

    86.10

  • Open Price

    86.10

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    83.10 (229)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the attached Balance Sheet of AVT NATURAL PRODUCTS LIMITED, CHENNAI, as at 31st March 2012 and also the Statement of Profit and Loss for the year ended on that date annexed thereto, together with the Notes thereon and the Cash Flow Statement for the year ended on that date. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express an opinion on these financial statements based on our audit. We have 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 the Management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As required by the Companies (Auditor''s Report) Order, 2003, as amended by the Companies (Auditor''s Report) (Amendment) Order, 2004, 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. Further to the comments referred to above, we report that: (i) 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. (ii) 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. (iii) The Company''s Balance Sheet and Statement of Profit and Loss read with the Notes forming part thereof, dealt with by this Report, are in agreement with the books of account. (iv) In our opinion, the Balance Sheet and Statement of Profit and Loss, dealt with by this Report, comply with the Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956. (v) Based on the written representations made by the Directors and taken on record by the Board of Directors, we state that none of the Directors is disqualified from being appointed as a Director in terms of Section 274(1) (g) of the Companies Act, 1956. (vi) In our opinion, and to the best of our information and according to the explanations given to us, the said accounts read with the Notes forming part thereof, 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: a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2012; b) in the case of the Statement of Profit and Loss, of the PROFIT 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. i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of Fixed Assets. b) Physical verification of major items of these assets has been conducted by the Management during the financial year and no material discrepancies were noticed on such verification. c) No substantial part of fixed assets of the company has been disposed off during the year. ii) a) Physical verification of Inventory has been conducted by the Management at reasonable intervals. b) The procedures of physical verification of inventory followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business. c) The Company has maintained proper records of inventory and no material discrepancies have been noticed on physical verification of inventory as compared to book records. iii) a) The Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Act, and hence the clauses (iii) (a), (b), (c) & (d) of the Order is not applicable. b) The Company has not taken any loans, secured or unsecured from companies, firms or other parties, covered in the register maintained under Section 301 of the Act and hence the clauses (iii) (e), (f) & (g) of the Order are not applicable. iv) The Company has adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods or services. v) a) The particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register required to be maintained under that section. b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Act and exceeding the value of five lakh rupees in respect of any party during the year have been made at prices, which are reasonable having regard to prevailing market prices at the relevant time. vi) The Company has complied with the directives issued by the Reserve Bank of India and the provisions of Section 58A and 58AA or other provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. vii) The Company has an Internal Audit system commensurate with its size and nature of its business. viii) We have broadly reviewed the books of account relating to materials, labour and other items of cost maintained by the company pursuant to the Rules made by the Central Government for the maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 and we are of the opinion that prima facie the prescribed accounts and records have been made and maintained. ix) a) The company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education and protection fund, employees'' state insurance, income-tax, sales-tax, wealth-tax, service-tax, customs duty, excise-duty, cess and other statutory dues applicable to it. No undisputed statutory dues were outstanding as at the last day of the financial year for a period of more than six months from the date they became payable. b) The details of disputed statutory dues are as under: Name Nature Amount Amount Forum where of of disputed Paid dispute is the Statute the dues (Rs.) (Rs.) pending Andhra APGST 1,15,34,804 35,40,491 Sales Tax Pradesh 1999/00 to Appellate General 2004/05 Tribunal Sales Tax Act Assessments APGST 27,02,181 27,02,181 High Court 1996/97 to of Andhra 1998/99 Pradesh Kerala KGST 2000/01 8,81,527 8,80,588 Deputy General to 2004/05 Commissioner Sales Tax Act (Appeals) Karnataka KST 2006/07 27,516 - Joint Sales Tax Act Assessment Commissioner (Appeals) Service Tax Service Tax for 5,41,50,000 - CESTAT, Act the 2005-2009 Bangalore x) The Company has no accumulated losses. The Company has not incurred cash loss in the current financial year or in the immediately preceding financial year. xi) The Company has not defaulted in repayment of dues to banks. 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) The Company is not a Chit Fund or a Nidhi / Mutual Benefit Fund / Society. xiv) The Company is not dealing or trading in shares, securities, debentures or other investments. xv) The Company has given a letter of comfort for loans taken by the ultimate subsidiary from banks. xvi) The Company has applied the term loans for the purpose for which they were obtained. xvii) According to the information and explanations given to us, no funds raised on short-term basis have been used for long-term investment. xviii) The Company has not made any preferential allotment of shares during the year. xix) The Company has not issued any debentures. xx) The Company has not raised any money by public issues during the year. xxi) 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 SURI & CO., Chartered Accountants Firm''s Regn. No. : 004283S S. Ganesan Place : Chennai Partner Date : 30th May 2012 Membership No. 18525