you are here:

CG Power and Industrial Solutions Ltd.

BSE: 500093 | NSE: CGPOWER |

Shares falling in the `Trade-to-Trade` or `T-segment` are traded in this series and no intraday is allowed. This means trades can only be settled by accepting or giving the delivery of shares.
Series: BE | ISIN: INE067A01029 | SECTOR: Electric Equipment

BSE Live

Oct 26, 16:00
150.15 7.15 (5.00%)
Volume
AVERAGE VOLUME
5-Day
353,823
10-Day
351,558
30-Day
311,083
100,127
  • Prev. Close

    143.00

  • Open Price

    143.00

  • Bid Price (Qty.)

    150.15 (129182)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 26, 15:56
150.80 7.15 (4.98%)
Volume
AVERAGE VOLUME
5-Day
4,552,190
10-Day
2,999,229
30-Day
2,337,173
1,925,392
  • Prev. Close

    143.65

  • Open Price

    144.00

  • Bid Price (Qty.)

    150.80 (86784)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

We have audited the attached Balance Sheet of Crompton Greaves Limited as at 31st March, 2011, the Profit and Loss Account and also 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. 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. In accordance with provisions of Section 227 of the Companies Act 1956, we report that: 1. As required by the Companies (Auditors Report) Order, 2003 and as amended by the Companies (Auditors Report) (Amendment) Order, 2004 issued by the Central Government of India 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. 2. Further to our comments in the Annexure referred to above, we report that: (a) we have obtained all information and explanations, which to the best of our knowledge and belief were necessary for the purposes 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 Profit and Loss Account and the Cash Flow Statement dealt with by this report are in agreement with the books of account; (d) in our opinion, the Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this report comply with the accounting standards referred to in Section 211 (3C) of the Companies Act, 1956; and (e) on the basis of the written representations received from directors of the Company as on 31st March, 2011, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2011, from being appointed as a director in terms of Section 274 (1) (g) of the Companies Act, 1956. In our opinion, and to the best of our information and according to the explanations given to us, the said accounts, read together with the Significant Accounting Policies in Schedule A and the Notes on the Balance Sheet and Profit and Loss Account in Schedule B, 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: (i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2011; (ii) in the case of the Profit and Loss Account, of the profit for the year ended on that date; and (iii) in case of the Cash Flow Statement, of the cash flows for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT (REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE) (i) (a) The Company is maintaining proper records to show full particulars, including quantitative details and situation of all fixed assets. (b) As explained to us, these fixed assets have been physically verified by the management, in accordance with a phased programme of verification, which in our opinion, is reasonable, considering the size of the Company and nature of its assets. The frequency of physical verification is reasonable and no material discrepancies were noticed on such verification. (c) The Company has not disposed off any substantial part of its fixed assets during the year, so as to affect its going concern status. (ii) (a) As explained to us, the inventories have been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable. (b) As per the information given to us, the procedures of physical verification of inventory followed by the management are, in our opinion, 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. The discrepancies noticed on verification between the physical stocks and the book records, which were not material, have been properly dealt with in the books of account. (iii) (a) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms and other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, paragraphs 4(iii)(b), (c) and (d) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. (b) According to the information and explanations given to us, the Company has not taken any loans, secured or unsecured, from companies, firms and other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, paragraphs 4(iii) (f) and (g) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. (iv) In our opinion, and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and 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 neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system. (v) (a) According to the information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements that need to be entered in the register maintained under Section 301 of the Companies Act, 1956, 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 entered in the register maintained under Section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. (vi) The Company has accepted deposits from the public and in our opinion and according to the information and explanations given to us, the directives issued by the Reserve Bank of India and the provisions of Sections 58A, 58AA and other relevant provisions of the Companies Act, 1956 and the rules framed thereunder, where applicable, have been complied with. We are informed that no order has been passed by the Company Law Board or 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 its size and nature of its business. (viii) We have broadly reviewed the books of account and records maintained by the Company pursuant to the rules prescribed by the Central Government for the maintenance of cost records under Section 209 (1) (d) of the Companies Act, 1956, in respect of electric fans, motors, power driven pumps, transformers and electric lamps and are of the opinion that prima facie the prescribed accounts and records have been made and maintained. The contents of these accounts and records have not been examined by us. (ix) (a) According to the information and explanations given to us, in our opinion, the Company has been regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, employees state insurance, income-tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other statutory dues, as applicable, with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts were in arrears as at 31st March, 2011, for a period of more than six months from the date they become payable. (b) According to the information and explanations given to us and the records of the Company examined by us, the particulars of income tax, sales tax, service tax, excise duty and cess as at 31st March, 2011, which have not been deposited on account of a dispute, are as under: Name Nature Amount Period to Forum where of the of the crore* which the disputes are Statute disputed amount pending dues relates The Tax and 1997-98 to 8.47 ITAT Income Tax interest 2005-06 Act, 1961 The Central Tax, 1996-97 Sales Tax interest 1999-2000 Act, 1956, and 5.98 2005-06 to High Court Local Sales penalty 2008-09 Tax Acts and Works 1991-92 Contract 1992-93 Tax Act 7 40 1994-95 Tribunal 1996-97 1997-98 to 2004-05 1996-97 to 19.92 2008-09 Commissionerate 1998-99 0.73 Assessing Officer 2006-07 The Central Duty, 2001-02 Excise Act, service 0.42 2002-03 High Court 1944 and tax and 2004-05 to Service tax penalty 2007-08 under the Finance 1975-76 to Act, 1994 1981-82 9.45 1991-92 CESTAT 1999-2000 to 2001-02 2003-04 to 2008-09 2001-02 1.63 2004-05 to Commissionerate 2009-10 * Net of pre-deposit paid in getting the stay / appeal admitted (x) The Company has no accumulated losses as at 31st March, 2011 and it has not incurred any cash losses in the financial year ended on that date and in the immediately preceding financial year. (xi) According to the information and explanations given to us, in our opinion the Company has not defaulted in the repayment of dues to any financial institutions or bank as at the balance sheet date. The Company has not issued any debentures. (xii) According to the information and explanations given to us, 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 provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund / society are not applicable to the Company. (xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing in or trading in securities. The Company has invested surplus fund in mutual funds. According to the information and explanations given to us, proper records have been made of the transactions and contracts and timely entries have been made therein. The investments in mutual funds have been held by the Company in its own name. (xv) In our opinion and according to the information and explanations given to us, the terms and conditions of guarantee given by the Company for loans taken by others from banks or financial institutions are not prima facie prejudicial to the interests of the Company. (xvi) In our opinion and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained. (xvii) According to the information and explanations given to us and on 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 investments. (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, during the year. (xix) The Company has not issued any debentures during the year. Hence, reporting on paragraph 4 (xix) of the Companies (Auditors Report) Order, 2003 pertaining to creation of security or charge for debentures does not arise. (xx) The Company has not raised any money by public issues during the year. Accordingly, paragraph 4 (xx) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company. (xxi) During the course of our examination of books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management. For SHARP & TANNAN CHARTERED ACCOUNTANTS Registration No.109982W L. VAIDYANATHAN PARTNER Mumbai, 28th April, 2011 Membership No.16368