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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 27, 10:38
250.25 0.30 (0.12%)
Volume
AVERAGE VOLUME
5-Day
35,311
10-Day
26,126
30-Day
17,336
79,188
  • Prev. Close

    249.95

  • Open Price

    254.55

  • Bid Price (Qty.)

    250.25 (7)

  • Offer Price (Qty.)

    250.60 (80)

NSE Live

Sep 27, 10:38
250.40 0.35 (0.14%)
Volume
AVERAGE VOLUME
5-Day
470,505
10-Day
372,738
30-Day
275,000
86,805
  • Prev. Close

    250.05

  • Open Price

    251.50

  • Bid Price (Qty.)

    250.40 (126)

  • Offer Price (Qty.)

    250.50 (1)

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 December 31,2007, 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 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 account 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 2007 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 22, 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, 2007; (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. 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 2007. (i) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets. (b) The Company has carried out physical verification of its fixed assets under a phased programme wherein all the fixed assets are verified over a period which, in our opinion, is reasonable having regard to the size of the Company and nature of its assets and no material discrepancies were noticed on such verification. (c) During the year, there was nodisposal of substantial part of fixed assets. (ii) (a) The inventory has been physically verified by the management at reasonable intervals other than stock lying with third parties which has been substantially confirmed by them (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) In our opinion,theCompany has maintained proper records of inventory and no material discrepancies were noticed on physical verification as compared to the book records. (iii) (a) 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 Act. (b) 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 Act. (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, no major weaknesses were noticed in the internal control system in respect of these areas. (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 to which the directives of the Reserve Bank of India and provisions of Section 58A/58AA and other provisions of the Act and rules framed thereunder apply. (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 Companys products. (ix) According to the records of the Company examined by us and information and explanations given to us : (a) The Company has been generally regular in depositing its 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. There are no undisputed amounts payable in respect of the aforesaid dues which have remained outstanding as at 31 st December 2007 for a period of more than six months from the date they became payable. (b) Dues of Sales Tax, Wealth Tax, Service Tax and Excise Duty which have not been deposited on account of disputes are as follows: Name of the Statute Nature of the Dues Amount in Rs. Wealth Tax Act, 1957 Wealth Tax 129,688 Central Excise Act, 1944 Excise (Including 7,169,189 interest and penalty) 16,532,591 733,144 83,737,863 3,525,108 Service Tax 3,064,976 595,600 Bombay Sales Tax Act, Sales Tax 3,631,557 1959 2,085,198 Central Sales Tax Act, Central Sales Tax 3,211,530 1956 15,703,466 Period to which the Forum where dispute is pending amount relate A.Y.1998-1999 Income Tax Appellate Tribunal 1994-98 Supreme Court 1998to2001& CESTAT 2002 to 2005 2001 to 2005 Commissioner of Central Excise (Appeals) 1997-1998 & Commissioner of Central Excise 2001 to 2003 1995-1996, Deputy/Joint/Assistant 1997-1998 & Commissioner of Central Excise 2002-2003 1997-98 to 2002 High Court 2002-2003 & Deputy/Assistant Commissioner of Service Tax 2005-2006 2000-2001 Joint Commissioner of Sales Tax (Appeals) Thane. 2001-2002 Joint Commissioner of Sales Tax (Appeals) Thane. 2001-2002 Joint Commissioner of Sales Tax (Appeals) Thane. 2002-2003 Commissioner of VAT-Dadra and Nagar Haveli Silvassa. There are no dues in respect of other taxes, duties and cess which have not been deposited on account of any disputes. (x) The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses during the year and in the immediately preceding financial year. (xi) According to the information and explanations given to us and records of the Company examined by us, the Company has been regular in repayment of dues towards Loans taken from Banks and Debenture- holders. The Company has not taken any loans from financial Institutions. (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) According to the information and explanations given to us, the Company is not a chit fund or a nidhi/ mutual benefit fund / Society. (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, the terms and conditions of guarantees given by the company for loans taken by subsidiaries are prima-facie not prejudicial to the interests of the Company. (xvi) According to the information and explanations given to us and records of the Company examined by us.the term loans taken by the Company has been applied for the purpose for which these were 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, the funds raised on short-term basis have not 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 and to the best of our knowledge and belief, no fraud on or by the Company has been noticed or reported during the year. For MGB & Co. Chartered Accountants Mohan Bhandari Partner Membership No. 12912 Mumbai, 31 st March, 2008