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Bata India Ltd.

BSE: 500043 | NSE: BATAINDIA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE176A01028 | SECTOR: Leather Products

BSE Live

Apr 07, 16:00
1252.75 60.90 (5.11%)
Volume
AVERAGE VOLUME
5-Day
26,228
10-Day
35,830
30-Day
34,021
30,196
  • Prev. Close

    1191.85

  • Open Price

    1271.90

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 07, 15:59
1246.40 55.65 (4.67%)
Volume
AVERAGE VOLUME
5-Day
676,904
10-Day
837,322
30-Day
878,694
901,621
  • Prev. Close

    1190.75

  • Open Price

    1232.00

  • Bid Price (Qty.)

    1246.40 (213)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2019 2018 2017 2016 2015 2013 2012 2011 2010

Auditor's Report

1. We have audited the attached Balance Sheet of Bata India Limited (the Company) as at December 31,2009 and also the Profit and Loss account and the cash flow statement for the year ended on that date annexed thereto. 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 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 (as amended) issued by the Central Government of India in terms of sub-section (4A) of Section 227 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. 4. Furtherto our comments in the Annexure 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 it appears from our examination of those books; iii. The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account; iv. In our opinion, the balance sheet, profit and loss account and cash flow statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. v. On the basis of the written representations received from the directors, as on December 31, 2009, and taken on recordby the Board of Directors, we report that none of the directors is disqualified as on December 31, 2009 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 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 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 affair so the Company as at December 31,2009; b) in the case of the profit and loss account, of the profit for the year ended on that date; and c) in the case of cash flow statement, of the cash flows for the year ended on that date. Annexure referred to in paragraph 3 of our report of even date Re: Bata India Limited (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) Fixed assets have been physically verified by the management during the year and no material discrepancies were identified on such verification. (c) There was no substantial disposal of fixed assets during the year. (ii) (a) The management has conducted physical verification of inventory at reasonable intervals during the year. (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 is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. -.; (iii) (a) As informed, 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 Companies Act, 1956 and as such, clauses 4(iii) (a) to 4(iii) (d) of the Companies (Auditors Report) Order, 2003 (as amended) are not applicable. (b) As informed, 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 Companies Act, 1956 and as such, clauses 4(iii) (e) to4(iii) (g) of the Companies (Auditors Report) Order, 2003 (as amended) are not applicable (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 our audit, no major weakness has been noticed in the internal control system in respect of these areas. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the company. (v) (a) According to the information and explanations provided by the management, we are of the opinion that the particulars of contracts or arrangements referred to in section 301 of the Act that need to be entered into the register maintained under section 301 have been so entered. (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements exceeding value of Rupees five lakhs have been entered into during the financial year at prices which are reasonable having regard to the prevailing market prices at the relevant time. (vi) In respect of deposits accepted, in our opinion and according to the information and explanations given to us, directives issued by the Reserve Bank of India and the provisions of sections 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under, to the extent applicable, have been complied with. We are informed by the management that no order has been passed by the Company Law Board, National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal. (vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. (viii) We have broadly reviewed the books of account 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 are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. (ix) (a) Undisputed statutory dues including provident fund, investor education and protection fund, or employees state insurance, income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty, cess and other material statutory dues applicable to it have generally been regularly deposited with the appropriate authorities. Further, since the Central Governent has till date not prescribed the amount of cess payable under section 441 A of the Companies Act, 1956, we are not in a position to comment upon the regularity or otherwise of the company in depositing the same (b) According to the information and explanations given to us, no undisputed dues payable in respect of provident fund, investor education and protection fund, employees state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, excise duty, cess and other statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. (c) According to the information and explanation given to us and records of the Company, there are no dues of income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty and cess which have not been deposited on account of any dispute, other than following: Name of the Nature of dues Amount (Rs statute in thousand) Various State MRP-Tax on tax case 16,480 Sales Tax Acts Various State Purchase Tax Dispute at 5,100 Sales Tax Acts Faridabad Various State Revenue recovery against 6,700 Sales Tax Acts non payment of demand in assessment Various State Tax in dispute u/s 92 of 2,780 Sales Tax Acts Central Sales tax Act regarding non-submission of forms Various State Penalty for non payment 1,200 Sales Tax Acts of tax and non collection on C forms Various State Appeal Against 1,400 Sales Tax Acts Assessment Order Central Excise Excise Duty demand on 1,500 Act,1944 closing balance of exempted footwear. Central Excise Excise duty on 18,970 Act, 1944 double textured fabric(rubberized textile) Name of the Period to Forum where statue which the dispute is amount relates pending Various State Sales Tax Acts 1987-88 to Sales Tax Tribunal 2001 -02 Appellate Authority, Tamilnadu Various State Sales Tax Acts 1984-85 Supreme Court Various State Sales Tax Acts 1994-95 CESTAT, Kerala 1998-99 1999-00 2000-01 Various State Sales Tax Acts 1991-92 High Court, UP Various State 2002 CESTAT, Kolkata Sales Tax Acts Various State 1985-87 High Court Sales Tax Acts Central Excise Act, 1944 1987-88 CCE(Appeals) Kolkata Central Excise Act, 1944 1990-1994 Supreme Court Name of the Nature of dues Amount (Rs statute in thousand) Central Excise Duty demanded for sale of 7,030 Act, 1944 footwear at domestic Tariff area of which final hearing before commissioner concluded and order is pending. Central Excise Duty demanded on various 870 Act, 1944 chemicals used for processing of leather and subsequent clearance of said processed leather for manufacture of footwear (Exempted) Central Excise Disallowance for trade 2,750 Act,1944 discount for sale of footwear to retail outlet Central Excise Excise duty demanded on 5,040 Act, 1944 parts of footwear used captively in manufacture of exempted footwear Central Excise Central Excise Duty Demanded 5,100 Act, 1944 for, clearance of Defective Footwear without payment of Central Excise Duty, after necessary re-processing of said footwear. The process treated as MANUFACTURE Central Excise Excise duty demanded 18,790 Act, 1944 for movement of raw material to job worker without payment of duty Central Excise Disallowing of abatement 7,470 Act,1944 @ 40% on MRP for Institutional Sales. Sale of Industrial Boots & Mines Safety Boots. Central Excise Demand for alleged non reversal 5,440 Act,1944 of CENVAT credit on ceveted inputs and non payment of CE duty on finished goods on written off stock as per Balance sheet Name of the Period to Forum where Statue which the dispute is amount relates pending Central Excise Act, 1944 1997-1999 Commissioner of Central Excise, Chennai Central Excise Act, 1944 2005 Commissioner, CCE Kolkata Central Excise Act, 1944 1995-97 CESTAT-Chennai Central Excise Act, 1944 2004-05 Additional Commissioner of Central Excise Kolkata Central Excise Act, 1944 2004 CESTAT-Kolkata Central Excise Act, 1944 2004-05 Commissioner (Appeal) Kolkata. Central Excise Act, 1944 2006 CESTAT, Kolkata 2007 2008 Central Excise Act, 1944 2007 Commissioner, Kolkata. Name of the Nature of dues Amount (Rs statute in thousand) Central Excise Non compliance of the condition 21,480 Act, 1944 of the notification for marking MRP on factory seconds cleared on payment of appropriate C.E. duty. Central Excise Exclusion of sales tax @ 8% 1,500 Act, 1944 for payment of an amount equal to 8%/10% on exempted footwear as per CCR 6(3)(b). Customs Duty demand on account of 10,340 Act, 1942 short levy of customs duty (anti dumping duty) for which hearing before commissioner concluded and the order received. Customs Wrong availment of 83,760 Act, 1942 concessional rate of customs duty etc. against which the hearing has not finalized as yet Customs Adv. License No. P/W/3497630 100 Act, 1942 dt. 7.2.94 Name of the Period to Forum where Statue which the dispute is amount relates pending Central Excise Act, 1944 2008 CESTAT, Kolkata Central Excise Act, 1944 2009 Additional Commissioner of Central Excise- Kolkata Customs Act, 1942 2001 Deputy Commissioner of Customs Customs Act, 1942 1998-2003 CESTAT-Kolkata Customs Act, 1942 2002 DGFT, Kolkata (x) The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year. (xi) Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to bank. The Company had no outstanding dues in respect of debenture holders and financial institutions. I (xii) According to the information and explanations given to us and based on the documents and records produced 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. (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 (as amended) are not applicable to the Company. (xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors Report) Order, 2003 (as amended) are not applicable to the Company. (xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions. (xvi) Based on information and explanations given to us by the management, the Company did not obtain any term loan during the year. (xvii) 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 for long-term investment. (xviii) The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under section 301 of the Companies Act, 1956. (xix) The Company did not have any outstanding debentures during the year. (xx) The Company has not raised any money by way of public issue during the year. (xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit. For S.R. BATLIBOI & CO. Chartered Accountants per Rajiv Goyal Place: Gurgaon Partner Date : 24th February, 2010 Membership No.: 94549