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Chartered Logistics Ltd.

BSE: 531977 | NSE: | Series: NA | ISIN: INE558F01026 | SECTOR: Transport & Logistics

BSE Live

Oct 18, 16:00
10.84 0.51 (4.94%)
Volume
AVERAGE VOLUME
5-Day
115,459
10-Day
101,922
30-Day
71,629
126,848
  • Prev. Close

    10.33

  • Open Price

    10.84

  • Bid Price (Qty.)

    10.84 (488032)

  • Offer Price (Qty.)

    0.00 (0)

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.)

    - (0)

  • Offer Price (Qty.)

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Chartered Logistics is not listed on NSE

Annual Report

For Year :
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Auditor's Report

We have audited the attached Balance Sheet of CHARTERED CARRIERS LIMITED, as at 31st March 2007 and also the Profit and Loss Account 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. As required by the Companies (Auditors Report) Order, 2003 as amended by Companies (Auditors Report) (Amendment) order 2004, (together the order) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we Annexure hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order. Further to 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 accounts required by law have been kept by the company so far as appears from our examination of those books (iii) The Balance Sheet, Profit and Loss Accounts and Cash Flow statement dealt with by this report are in agreement with the books of accounts (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 written representations received from the directors, as on 31st March, 2007, and taken on record by the Board Of Directors, we report that none of the directors is disqualified as on 31st March 2007 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 read in along with schedule- 1 to 18 forming part of 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 affairs of the Company as at 31st March, 2007; and (b) In the case of the Profit and Loss Account, of the PROFIT for the year ended on that date. (c) In the 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 3 of our report of even date on the accounts of the Chartered Carriers Limited as at 31st March, 2007 .) (1) (a) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The Company has a program of physical verification of its fixed assets, which in our opinion, is Reasonable having regard to the size of the Company and the nature of its assets. In accordance with this program, fixed assets have been physically verified by the management during the year an according to the information and explanations given to us no material discrepancies have been noticed on such verification. (c) The Company has not disposed of a substantial part of fixed assets during the year. (2) (a) Physical verification of inventory has been conducted during the year by the management at reasonable intervals. (b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion and according to the information and explanations given to us, the Company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification. (3) According to the information and explanation given to us, the Company has given interest free Advances of to/from Companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year is Rs.71.22 Lacs for the short time and the year end balance of such Advances is Rs. NIL. (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 for the purchase of inventory and fixed assets and for the sale of goods. (5) In our opinion and according to the information and explanations given to us, the transactions exceeding rupees five lakhs in respect of each party, that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered. During the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. (6) The company has not accepted any deposits from the public. (7) In our opinion, the company has an adequate internal audit system commensurate with its size and nature of its business. (8) The maintenance of cost records has been prescribed by the Central Government under clause (d) of sub - section (1) of section 209 of the Act, is not required. (9) (a) According to the records of the company, the company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employees state insurance, income-tax, sales - tax, wealth - tax, custom duty, excise - duty, cess and other statutory dues. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty and excise duty were outstanding, as at 31st March 2007 for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us, there are no dues of income - tax, wealth - tax, excise duty, and cess which have not been deposited on account of any dispute. (10) The company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in the financial year under report and the immediately preceding financial year. (11) The Company has not defaulted in repayment of dues to financial institutions or banks. (12) 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, nidhi or mutual benefit fund/society. (14) The Company is not dealing or trading in shares, securities, debentures and other investments. (15) Based on the information and explanations given to us, The Company has not given a guarantee to a financial institution or banks. (16) The term loans were applied for the purpose for which the loans were obtained. (17) According to the cash flow statement and other records examined by us and the information and explanation given to us, on an overall basis, funds raised on short-term basis have, prima facie, not been used during the year for long term investment and vice versa. Though the surplus funds which were not required for immediate utilization have been invested in liquid investments payable on demand. (18) The Company has not made preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956. (19) No debentures have been issued by the Company and hence the question of creating securities in respect thereof does not arise. (20) During the year, the Company has not raised money by public issue and hence question of disclosure and verification of end use of such monies does not arise. (21) According to the information and explanations given to us and on the basis of examination of records, no material fraud on or by the Company was noticed or reported during the year. For RAMAN M. JAIN & CO. Chartered Accountants Place : Ahmedabad Raman M. Jain Dated : 01/09/2007 Partner