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Balu Forge Industries Ltd.

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

BSE Live

Sep 22, 16:00
259.65 1.40 (0.54%)
Volume
AVERAGE VOLUME
5-Day
435
10-Day
418
30-Day
307
42
  • Prev. Close

    258.25

  • Open Price

    258.25

  • Bid Price (Qty.)

    258.25 (7)

  • Offer Price (Qty.)

    259.75 (27)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
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Balu Forge Industries is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2010 2002

Auditor's Report

A. We have audited the attached Balance Sheet of BELL AGROMACHINA Ltd as at 31st March, 2012 and Profit & Loss Account for the year ended on that date annexed thereto. 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. B. We have 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 presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. C. As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India in terms of section 227(4A) of the Companies Act, 1956, we give in the Annexure, a statement on the matters specified in paragraphs 4 and 5 of the said order. D. Further to our comments in the Annexure referred to in paragraph C above, we report that: 1. 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. 2. In our opinion, proper books of accounts as required by law have been kept by the Company, so far as appears from our examination of the books. 3. The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the books of account. 4. in our opinion, the Balance Sheet and Profit & Loss Account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 5. On the basis of representations from the directors, taken on record by the Board of Directors and as per information and explanations given to us, none of the directors of the company are, prima facie, as at 31st March, 2011are not disqualified from being appointed as directors of the company in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act,1956. 6. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with and subject to notes thereon of Schedule-5 give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view: (i) In the case of Balance sheet, of the state of affairs of the company as at 31st March, 2012 (ii) In the case of profit & Loss Account of the loss for the year ended on that date. ANNEXURE TO THE AUDITORS'' REPORT (Referred to in paragraph: C of our report of even date) 1. The Company does not have any fixed assets and hence this clause is not applicable to the company for the year under consideration. 2. As the company does not have any inventories as at the end or at the beginning of the year; this clause is not applicable to the company for the year under consideration. 3. (a) The company has not granted unsecured loan to any of the parties covered by section 301 of the Companies Act, 1956. (b) The company has taken loan from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. 4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services. In our opinion, there is no continuing failure to correct major weakness in internal control. 5. To the best our knowledge and belief, and according to the information and explanations given to us, we are of the opinion that there are no contracts and arrangements, the particulars of which need to be entered into the register maintained under Section 301 of the Companies Act, 1956. 6. During the year, the company has not accepted deposits from the public. 7. The Company did not have any formal internal audit system during the year under review. 8. We are informed that maintenance of cost records has not been prescribed by the Central Government under Section 209 (1)(d) of the Companies Act, 1956 in respect of products of the company. 9. (a) According to the books of accounts examined by us and also based on representations received from the management, the company is regular in depositing undisputed statutory dues applicable to it. There is no Undisputed amounts payable in arrears in respect of statutory dues as at 31/03/2012 for a period of six months from the date they become payable. (b) According to the information and explanations given to us, there are no dues in respect of income tax, sales tax, wealth tax, excise duty, service tax and cess which have not been deposited on account of dispute. 10. The company''s accumulated losses at the end of the financial year are more than fifty percent of its net worth. 11. Based on our audit procedures and according to the information and explanations given to us we report that the company had not defaulted in repayment of any secured loans during the year under review. 12. According to the information and explanations given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. The company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Order are not applicable to the company. 14. In our opinion and according to the information and explanations given to us, the company is not dealing in shares, securities and debentures; therefore, the provisions of clause 4 (xiv) of the Order are not applicable to the company. 15 The company has not given guarantee to a bank for loan taken by any other company. 16. The company has not obtained any term loan during the year. Accordingly, the provisions of clause (xvi) of the Order are not applicable to the company. 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 to finance long-term investments. 18. According to the information and explanations given to us, during the year covered by our report, the company has not made any preferential allotment of shares to the parties and companies covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, the provisions of clause (xviii) of the Order are not applicable to the company. 19. According to the information and explanations given to us, the company has not issued any secured debentures during the period covered by our report. Accordingly, the provisions of clause (xix) of the Order are not applicable to the company. 20. During the period covered by our audit report, the company has not raised any money by way of a public issue. 21. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the company was noticed or reported during the year. FOR H N ADINAVAR & Co Chartered Accountants Sd/- H N ADINAVAR Membership No. 023757 Place : Hubli Date : 13th August, 2012.