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EPL Ltd.

BSE: 500135 | NSE: EPL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE255A01020 | SECTOR: Packaging

BSE Live

Sep 20, 16:00
248.10 10.25 (4.31%)
Volume
AVERAGE VOLUME
5-Day
16,941
10-Day
11,539
30-Day
16,419
16,761
  • Prev. Close

    237.85

  • Open Price

    235.05

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Sep 20, 15:56
245.90 7.70 (3.23%)
Volume
AVERAGE VOLUME
5-Day
274,971
10-Day
205,643
30-Day
244,174
318,887
  • Prev. Close

    238.20

  • Open Price

    236.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    245.90 (2319)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2013 2012 2011

Auditor's Report

1. We have audited the attached Balance Sheet of Essel Propack Limited (the Company) as at 31st December, 2006, 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 Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with the 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 from 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 issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956 (the Act), and on the basis of such checks as we considered appropriate and according to the information and explanations given to us, we annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order. 4. Further to our comments in the Annexure referred to Paragraph (3) 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 as required by law have been kept by the Company, so far as appears from our examination of those books; (iii) 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; (iv) 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 Act; (v) On the basis of written representations received from the Directors and taken on record by the Board, we report that none of the directors is disqualified as at 31 st December, 2006 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Act; (vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with the significant accounting policies and notes to accounts as per Schedule 21, give the information required by the Act 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 December, 2006; (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 the Cash Flow Statement, of the cash flows, for the year ended on that date. Mohan Bhandari Partner Membership No. 12912 For MGB & Co. Chartered Accountants Mumbai, March 14, 2007 Annexure referred to in paragraph 3 of Auditors' Report to the Members of Essel Propack Limited on the accounts for the year ended 31st December, 2006 (i) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets. (b) The Company has a programme of physical verification of its fixed assets by which all the fixed assets are verified in a phased manner over a period of two years. In our opinion, the periodicity of physical verification is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification. (c) During the year, in our opinion, a substantial part of the fixed assets has not been disposed off by the Company. (ii) (a) The inventory has been physically verified by the management during the year except stock lying with third parties in respect of whom confirmations have been obtained. In our opinion, the frequency of verification is reasonable. (b) In our opinion, 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) On the basis of our examination of records and in our opinion, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventories as compared to the book records were not material and have been properly dealt with in the books of accounts. (iii) (a) The Company has not granted any loan, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Act. Consequently, the requirements of clause (iii.b), (iii.c) and (iii.d) of paragraph 4 of the Order are not applicable to the Company. (b) The Company has not taken any loan, secured or unsecured from companies, firms or other parties covered in the register maintained under Section 301 of the Act. Consequently, the requirements of clause (iii.f) and (iii.g) of paragraph 4 of the Order are not applicable to the Company. (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 with regard to purchases of inventory, fixed assets and with regard to sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weakness in the internal controls system. (v) According to the information and explanations given to us, there are no contracts or arrangements the particulars of which are required to be entered into the register in pursuance of Section 301 of the Act. (vi) According to the information and explanations given to us, the Company has not accepted any deposits from the public during the year. (vii) In our opinion, the Company has an internal audit system commensurate with its size and nature of its business. (viii) We are informed that the Central Government has not prescribed the maintenance of cost records under Section 209(1)(d) of the Act in respect of the Company's products. (ix) (a) According to the records of the Company, the 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 others as applicable have been deposited regularly with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31 st December, 2006 for a period of more than six months from the date they became payable. (b) According to the records of the Company, the disputed Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and Cess, which have not been deposited, are as under: Name of the Statute Nature of the Dues Amount in (Rs.) Wealth Tax Act, 1957 Wealth Tax 129,688 Income Tax Act, 1961 Income Tax 5,778,904 Central Excise Excise (Including interest 7,169,189 Act, 1944 and penalty) 3,058,975 319,032,136 1,426,212 3,064,976 Service Tax 681,624 Bombay Sales Tax Sales Tax 3,631,217 Act, 1959 Period to which the Forum where amount relate dispute is pending A.Y. 1998-1999 Income Tax Appellate Tribunal A.Y. 2004-2005 Commissioner of Income Tax (Appeals) 1994-1998 Supreme Court 1998-1999 to 2000-2003 CESTAT 1996-1997 to 2001-2003 Commissioner of Central Excise 1997-1998 to 2000-2001 Deputy/Joint/Assistant & 2003-2004 Commissioner of Central Excise 1997-2002 High Court 2002-2003, 2005 Deputy/Assistant Commissioner of Service Tax 2000-2001 Deputy Commissioner of Sales Tax (Appeals) (x) The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses in the financial year covered by our audit and in the immediately preceding financial year. (xi) In our opinion, the Company has not defaulted in repayment of dues to Banks. (xii) According to the information and explanations given to us, the Company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, considering the nature of activities carried on by the Company during the year, the provisions of any special statute applicable to chit fund/nidhi/mutual benefit fund/societies are not applicable to it. (xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. (xv) In our opinion and according to the information and explanations given to us, the Company has given guarantees for loans taken by subsidiaries from banks and financial institutions. However, considering the relationship, it is not considered prejudicial to the interest of the Company. (xvi) In our opinion and according to the information and explanations given to us, the term loan taken by the Company has been applied for the purpose for which it was obtained. (xvii) On the basis of review of utilization of funds which is based on an overall examination of the Balance Sheet of the Company and related information as made available to us, we report that short-term funds to the extent of Rs.77.04 millions have been used for long-term purposes. (xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year. (xix) The Company has not issued any secured debentures during the year. (xx) The Company has not raised any money by way of public issue during the year. (xxi) On the basis of our examination and according to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit. Mohan Bhandari Partner Membership No. 12912 For MGB & Co. Chartered Accountants Mumbai, March 14, 2007