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Balu Forge Industries Ltd.

BSE: 531112 | NSE: | Series: NA | ISIN: INE011E01029 | SECTOR: Machine Tools

BSE Live

Sep 28, 15:40
259.00 -0.35 (-0.14%)
Volume
AVERAGE VOLUME
5-Day
751
10-Day
630
30-Day
380
720
  • Prev. Close

    259.35

  • Open Price

    259.35

  • Bid Price (Qty.)

    253.30 (14)

  • Offer Price (Qty.)

    259.50 (50)

NSE Live

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

    -

  • Open Price

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  • Bid Price (Qty.)

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  • Offer Price (Qty.)

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Balu Forge Industries is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2010 2002

Auditor's Report

We have Audited the attached Balance Sheet of Bell Agromachina Ltd., as at 31st March, 2002 and the Profit and Loss Account of the Company for the year ended on that date annexed thereto and report that: I. As required by the Manufacturing and other Companies (Auditors Report) Order, 1988 issued by the Central Govt. in term of section 227 (4A) of the Companies Act 1956, and on the basis of such examination of the books and records of the Company as we considered appropriate and the information and explanation given to us during the course of audit, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said order. II. Further to our comments in the annexure referred to in paragraph 1 above We have to report that: a) We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for 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 and Profit and Loss account dealt with by this report are in agreement with the books of accounts. d) In our opinion the Balance Sheet and Profit & Loss A/c comply with the accounting standards referred to in Sec.211 (3c) of the companies act 1956. e) According to the records of the company there are no outstanding dues as on 31.3.2002 owed by the company to any other small scale industrial undertakings for a sum of Rs.1.00 lakh or more which is the outstanding for more than 30 days. f) None of the Directors is disqualified from being appointed as Director under section 274 (1) (g) of the Companies Act, 1956 g) The Agricultural Impliments sold during the financial year 1997-98 have been returned by the Dealer & Customer during this year. The same has been taken as Dead stock at the price it was sold crediting the respective dealers & customers, accounts. Except this there are no other matters or circumstances which have adverse effect on the functioning the Company. h) In our opinion and to the best of our information and according to the explainations given to us, the said accounts read with notes thereon give the information required by the companies Act 1956 in the manner so required and give a true and fair view; 1) In the case of Balance Sheet, of the state of affairs of the Company as at 31st March 2002 and 2) In the case of Profit and Loss Account of the Loss of the Company for the year ended on that date. For H. N. Adinavar & Co. Chartered Accountants Place: Hubli Sd/- H. N. Adinavar 25th July 2002 (Proprietor) ANNEXURE TO AUDIT REPORT OF BELL AGROMACHINA LTD., FOR THE YEAR ENDED 31st MARCH 2002 (Referred to in paragraph 1 thereof) 1) The Company has maintained proper records showing full particulars including qualitative details and situation of fixed assets. The fixed assets have been physically verified by the management at reasonable intervals during the year and no material decrepancies were noticed on such verification. 2) The Company has not revalued any of its Fixed Assets during the year. 3) Stocks of the inventories and finished goods and others have been physically verfied by the management at reasonable intervals. The descrepancies noticed on such verification between physical stocks and book records were not material. The procedure of physical verification of stock followed by the management are reasonable and adequate in relation to the size of the company and nature of its business. 4) In our opinion the valuation of stocks is fair and proper in accordance with the noramlly accepted accounting principles and is on the same basis as in earlier years. 5) In our opinion the rate of interest and other terms and conditions on which loans have been taken from companies, firms, or other parties listed in the register maintained under section 301 and from the companies under same management as defined under section 370 (1 B) of Companies Act 1956 are not prima facie, prejudical to the interests of the Company. 6) The company has not granted any loans to companies firms or other parties listed in the register maintained under section 301 and companies under same management as defined under section 370 (1B) of Companies Act 1956. 7) The Company has not given any loans or advance in the nature of loans to anybody except interest free advances to the employees which are being recovered either as per original stipulation or modified stipulations. 8) In our opinion & according to the information and explanation given to us, the company has adequate internal control procedures commensurate with size of the company and nature of its business, with regard to purchase of stores, raw materials including components, plant and machinary, equipments and other assets and for sale of goods. 9) In our opinion and according to the information and explanation given to us, the transactions of purchase of goods and materials and sale of goods, materials and services made in pursuance of contracts ararragements entered in registers maintained under Section 301 and aggregating during the year to Rs. 50,000 or more in respect of each party have been made at prices which are reasonable having regard to prevailing market prices for such goods, materials or services or the prices at which transactions for similar goods, materials of services have been made with other parties. 10) As explained to us, the company does not have any unserviceable or damaged stores nor its activities generally produce any by product and the company is maintaining reasonable records for the sale and disposal of scrap. 11) The Company has invited Deposits from public. 12) The Company does not have internal audit system. 13) Maintenance of cost accounts under Section 209 (1) (d) of companies Act 1956 has not been prescribed by the Central Government for this company. 14) We have been informed by the management that E.S.I. Act is inapplicable. 15) According to the books and records examined by us and explanations given to us, the company has no undisputed liability in respect on income Tax, Wealth Tax, Sales Tax, Customs Duties which is outstanding as on the date of the Balance Sheet for a period exceeding six months from the date they became payable. 16) In our opinion and according to the information and explanations given to us no personal expenses have been charged to the revenue accounts, other than those payable under contractual obligations or in accordance with generally accepted commerical practice. 17) The company is not a sick industrial company within the meaning of clauses (O) of Sub Section (1) of section 3 of Sick Industrial Companies (Special Provisions) Act, 1985. However, the Sales Turnover of the company has been reduced considerably due to lack of rainfall and due to recession. The Directors are hopeful of improving the sales in the next financial year. For H. N. Adinavar & Co. Chartered Accountants Hubli Sd/- H. N. Adinavar 25th July 2002 (Proprietor)