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DHP India Ltd.

BSE: 531306 | NSE: | Series: NA | ISIN: INE590D01016 | SECTOR: Domestic Appliances

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Aug 04, 10:00
708.95 9.00 (1.29%)
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    699.95

  • Open Price

    693.00

  • Bid Price (Qty.)

    697.05 (50)

  • Offer Price (Qty.)

    708.95 (2)

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Dec 27, 11:22
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DHP India is not listed on NSE

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

We have audited the attached Balance Sheet of DHP INDIA LIMITED as at 31 st March, 2009 and the Profit & 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. 1. 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. 2. 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, hereto a statement on the matters specified in paragraph 4 and 5 of the said Order. 3. Further to our comments in ANNEXURE referred to in paragraph 2 above, we report that: (a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the 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) In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; (d) In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards (AS) referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; (e) On the basis of written representations received from the directors, as on 31* March, 2009, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31sl March, 2009 from being appointed as directors in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956; (f) 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 and other notes thereon give the information required by the Companies Act, 1956, in the manner so required and present a true and fair view, in conformity with the accounting principles generally accepted in India : (i) In so far as it relates to the Balance Sheet, of the state of affairs of the Company as at 31 st March, 2009; (ii) In so far as it relates to the Profit and Loss Account, of the Profit of the Company for the year ended on that date ; and (iii) In so far as it relates to the Cash Row Statement, of the Cash flows of the Company for the year ended on that date. ANNEXURETOTHE AUDITORS REPORT STATEMENT ON THE MATTERS SPECIFIED IN PARAGRAPHS 4 AND 5 OF THE COMPANIES (AUDITORS REPORT) ORDER, 2003 (AS AMENDED) ORDER, 2004 AS REFERRED TO IN PARAGRAPH 2 OF OUR REPORT OF EVEN DATE 1. In respect of its Fixed Assets: (a) The Company has maintained proper records to show full particulars including quantitative details and situation of fixed assets. (b) As explained to us, the fixed assets have been physically verified by the management during the year in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the company and nature of its assets. We are informed that no material discrepancies were noticed on such verification. (c) The Company has not disposed of a substantial part of its fixed assets during the year and the going concern assumption of the Company is not affected. 2. In respect of its Inventories: (a) As explained to us, inventories have been physically verified by the management at a regular intervals during the year. (b) In our opinion and according to the information and explanation given to us, the procedures of physical verification of inventories 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 has maintained proper records of inventories. As explained to us, there were no material discrepancies noticed on physical verification of inventory as compared to the book records. 3. (a) The Company has not granted any loans, secured or unsecured, to / from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. (b) In respect of granted of loans, the clause (iii)(b), (iii)(c), (iii)(d) of paragraph 4 of the aforesaid order are not applicable to the Company. (c) The Company has taken unsecured loan from its one of promoter group company, which are covered in the register maintained under section 301 of the Act. The aggregate of maximum amounts involved during the year in respect of such loan granted was Rs.1,00,00,000/- and the year end balance Rs. 1,00,00,0007-. (d) In our opinion, the rate of interest and other terms and conditions on which loan have been taken from company listed in register maintained under section 301 of the Act are not, prima facie, prejudicial to the interest of the Company. (e) In respect to the loans taken by the Company, there were no stipulations with respect to repayment of principal amounts. As such, we are unable to comment on regularity or otherwise of repayment of such loans. However, the Company is regularly in paying the interest of such loan. (f) As informed to us, having regard to the terms and conditions of loan taken by the company, there is no outstanding interest payable ir respect of such loan. 4. In our opinion and according to the information and explanation 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, fixed assets and also for the sale of goods. During the course of our audit, no major weaknesses have been noticed in the internal control system and there is no continuing failure to correct major weaknesses in internal control system. 5. In respect of transaction covered under section 301 of the Companies act, 1956 : (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 Companies Act, 1956, have been entered in the register required to be maintained under that section. (b) Transactions made in pursuance of such contracts or arrangements 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 and hence directives issued by the Reserve Bank of India and the provision of section 58A and 58AA or any other relevant provisions of the Companies Act, 1956, and the Companies (Acceptance of Deposits) Rules, 1975. Therefore clause (vi) of paragraph 4 of the aforesaid Order is not applicable to the company. 7. In our opinion, the Company has an internal audit system commensurate with its size and nature of its business. 8. The Company is not required to maintain accounts or records 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. 9. In respect of statutory dues : (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance (ESI) dues, Income-Tax, Fringe Benefit Tax, Sales-Tax, Wealth-Tax, Service-Tax, Custom Duty, Excise Duty, Cess and other material statutory dues applicable to it. According to information and explanation given to us, there is no undisputed amounts payable in respect of Provident Fund, Investor Education and Protection Fund, Employees State Insurance dues, Income-Tax, Fringe-Benefit Tax, Sales-Tax, Wealth-Tax, Service-Tax, Custom Duty, Excise Duty, Cess and other material statutory dues applicable to it, which were outstanding as at 31s1 March, 2009 for a period of more than six months from the date they became payable. (b) According to the records of the company, there are no dues of Sales-Tax, Wealth-Tax, Service- Tax, Custom Duty, Excise Duty, Cess which has not been deposited on account of any dispute for the year ended 31st March, 2009. An amount of Rs. 24,457/- of Income-Tax liability of Asst. Year 1992-93, may arise due to effect of tribunal order and the same not paid for awaiting the revised order & demand from Income-Tax authorities. 10. The Company has no accumulated losses and has not incurred any cash losses during the financial year covered by our audit and in the immediately preceeding financial year. 11. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to any financial institution, banks or debenture holders and micro, small & medium enterprises. 12. The Company has not granted any loans & advances on the basis of securities by way of pledge of shares, debentures and other similar securities. 13. In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the other provisions of clause (xiii) of paragraph 4 of the aforesaid order are not applicable to the Company. 14. The Company has maintained proper records of transactions and contracts in respect of dealing in shares, securities, debentures, Units of Mutual Fund and other Investments, and timely entries have been made therein. All shares, debentures, units of mutual fund and other investments have been held by the Company in its own name. 15. The Company has not given any guarantee for the loan taken by others from bank or financial institutions during the year. 16. The Company has not taken any term loans during the years. Therefore, the provisions of clause (xvi) of paragraph 4 of the aforesaid order are not applicable to the Company. During the year, the Company has taken a cash credit loan facilities from its banker ABN AMRO BANK N.V. The above cash credit loans secured by hypothecation of Companys entire stock, book debts and other current assets, both present and future and also secured by first charge of fixed assets of the Company, equitable mortgage of factory land and building by way of collateral security. 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 for long-term investment. 18. During the year the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956. 19. The company has not created securities or charge in respect of debentures issued. 20. The company has not raised any money by way of public issue during the year. 21. In our opinion and according to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year that causes the financial statements to be materially misstated. For NAVIN NAYAR & COMPANY 4E, Jain Centre, 34A, Metcalfe Street Chartered Accountants Kolkata - 700 013 NAVIN NAYAR Partner The 29th day of June, 2009 Membership No. 053267