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First Winner Industries Ltd.

BSE: 532996 | NSE: FIRSTWIN | Series: NA | ISIN: INE315J01015 | SECTOR: Textiles - General

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Nov 26, 15:40
0.89 0.00 (0.00%)
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770
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First Winner Industries is not traded on BSE in the last 30 days

NSE Live

Jul 12, 15:31
1.50 0.00 (0.00%)
Volume
No Data Available
485
  • Prev. Close

    1.50

  • Open Price

    1.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

First Winner Industries is not traded on NSE in the last 30 days

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009

Auditor's Report

We have audited the attached Balance Sheet of Firstwinner Industries Ltd. as at 31st March 2010, the Proft & Loss Account for the year ended on that date annexed thereto. These fnancial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these fnancial statements based on our audit. We have 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 fnancial statements are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fnancial statements. An audit also includes assessing the accounting principles used and signifcant estimates made by management, as well as evaluating the overall fnancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 1. As required by the Companies (Auditors Report) Order,2003 as amended by Companies (Auditors Report)(Amendment) Order 2004 issued by Central Government of India, in terms of section 227(4A) of the Companies Act,1956, we enclose in the Annexure hereto a statement on the matters specifed in the paragraphs 4 and 5 of the said order, to the extent applicable to the Company. 2. Further to our comments in the Annexure referred to in paragraph (1) 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 those books; c. The Balance Sheet and Proft & Loss Account dealt with by this report are in agreement with the books of account; d. In our opinion the Balance Sheet and the Proft and Loss Account dealt with by this report comply with the mandatory Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act,1956; e. On the basis of written representation received from the Directors, as on 31st March 2010 and taken on record by the Board of Directors, we report that none of the directors of the Company is disqualifed as on 31st March 2010 from being appointed as a Director in terms of section 274(1)(g) 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 notes thereon, 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 so far as it relates to the Balance Sheet, of the state of affairs of the Company as at 31st March 2010; ii) in so far as it relates to the Proft & Loss Account, of the proft for the year ended on that date. Annexure to the Auditors report for year end 31.03.2010 (Referred to in paragraph 1 of our report of even date) 1 a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) As explained to us the management has physically verifed the fxed assets during the year and no material discrepancies were noticed on such verifcation. c) In our opinion and as per the information and explanations given to us, the Company has not disposed off any substantial part of fxed assets during the year and the going concern status of the Company is not affected. 2 a) As explained to us, inventories have been physically verifed by the management at reasonable intervals. b) In our opinion and according to the information and explanation given to us, the procedure of physical verifcation of inventories followed by the management is 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 inventory records, we are of the opinion that the company is maintaining proper records of inventory. As explained to us, no material discrepancies have been noticed on physical verifcation of inventories as compared to book records. 3 a) The Company has not taken any loans, secured or unsecured from companies, frms or parties covered in the register maintained under section 301 of the Companies Act,1956. b) The Company has not given any loans, secured or unsecured from companies, frms or parties covered in the register maintained under section 301 of the Companies Act, 1956. 4. In our opinion and according to the information and explanations given to us, there are adequate internal control system commensurate with the size of the Company and nature of its business for the purchase of fxed assets. To the best of our knowledge, no major weakness in internal control system were either reported or noticed by us during the course of our audit. 5. a) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contract or arrangements, that needed to be entered into 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 of purchase of goods and material and sale of goods, material and services made in pursuance of contract or arrangement entered in the register maintained under section 301 and aggregating during the year to Rs. 5,00,000 (Rs. Five Lacs Only) or more in respect of each party have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time for such goods, material and services have been made with other parties. 6. In our opinion and according to the information and explanations given to us, the company has not accepted the public deposit. Hence the provisions of section 58A and 58AA of the Companies Act,1956 or any other relevant provision of the act and the rules made there under are not applicable. 7. In our opinion the company has an internal audit system commensurate with the size and nature of its business. 8. We have been informed by the management that the central government has prescribed maintenance of cost records for the company under section 209(1)(d) of the Companies Act,1956, company is maintain such cost records. 9. a) According to the records of the company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Service Tax, Custom Duty, Excise Duty, Cess and other statutory dues have been generally regularly deposited 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 31st March 2010 for a period of more than six months from the date of becoming payable. b) According to the information and explanations given to us, there are no such statutory dues, which have not been deposited on account of any dispute. 10. The company has positive net worth at the end of the fnancial year. The company has no accumulated losses and has not incurred any cash losses during the current fnancial year and immediately preceding fnancial year. 11. Based on our audit procedure and according to the information and explanation given to us, we are of the opinion that the company has not defaulted in payment of dues to fnancial institutions or banks. The company has not issued any debentures. 12. In our opinion and according to the information and explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. In our opinion, the company is not a Chit Fund or a Nidhi/Mutual Beneft Fund/ Society. Thereof, clause 4(xiii) of the Companies (Auditors Report) Order, 2003 is not applicable to the company. 14. In our opinion, the company is not dealing or trading in shares, securities, debentures and other investments. Accordingly the provisions of clause 4(xiv) of the Companies (Auditors Report) Order, 2003 is not applicable to the company. 15. According to the information and explanations given to us, the company has given guarantee for loans taken by group of companies from banks or fnancial institutions. 16. In our opinion and according to the information and explanations given to us, the company has not raised new term loan during the year. 17. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the company, we are of the opinion that no funds raised on short term basis have been used for long term investment. 18. During the year, 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. The company did not have any outstanding debentures during the year. 20. In our opinion an according to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year. For Praful M. Joshi For Deshmukh & Associates Chartered Accountants Chartered Accountants (Praful M. Joshi- Proprietor) Deepen Kapadia - Partner Membership No. 100/030276 Membership No. 112565 Place : Mumbai Dated : 14.08.2010