you are here:

Gemstone Investments Ltd.

BSE: 531137 | NSE: | Series: NA | ISIN: INE503D01027 | SECTOR: Finance - Investments

BSE Live

Jan 21, 15:42
1.70 0.08 (4.94%)
Volume
AVERAGE VOLUME
5-Day
159,429
10-Day
268,251
30-Day
724,434
61,195
  • Prev. Close

    1.62

  • Open Price

    1.54

  • Bid Price (Qty.)

    1.70 (1286)

  • 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

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Gemstone Investments is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2010 2009 2008 2007 2005

Auditor's Report

1. We have audited the attached Balance Sheet of GEMSTONE INVESTMENTS LIMITED, as at 31st March, 2010 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. 2. 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. (a) 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; (b) 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 the books of accounts; (c) The Balance Sheet dealt with by this report are in agreement with the books of accounts; (d) In our opinion, the Balance Sheet of the Company comply with the Accounting Standards as referred in Sub-Section (3C) of Section 211 of the Companies Act, 1956, to the extent applicable; (e) As per information and explanations given to us, none of the directors of the Company are disqualified from being appointed as a director under 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 explanations given to us, said accounts, read together with Significant Accounting Policies and Notes 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, (i) in case of Balance Sheet, of the state of the affairs of the Company as at 31st March 2010. (ii) In case of Profit and Loss Account, of the Loss of the Company for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT Referred to in paragraph 3 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) All the assets have been physically verified by the management during the year, there is a regular programme of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification. (c) All fixed assets of the Company has been disposed of during the year 2. In our opinion and according to the information and explanation given to us, the Company has not granted or taken any loan secured or unsecured to or from the Companies, Firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956 3. The Cpmpany rjas adequinterna J.gpntroj pfacedjure eomrnensura{a_with the size of the Company and nature of its Business with regard to purchase of stores, raw materials including components, plant and machinery, equipment and other assets, and for sale of goods. Further on the basis of our examination books and records of the Company ,and according to the information and explanation given to us ,We have not come across any major weakness in internal control. 4. (a) In our opinion and according to the information and explanations given to us, the transactions that need to be entered into a register in pursuance of 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 made in pursuance of contract or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding rupees five lakhs each have been mad^ at prices, which are reasonable having regard to prevailing market prices at the relevant time. 5. In our opinion and according to the information and explanations given to us, the Company has not accepted / invited any deposits falling within the preview of Section 58A / 58AA of the Companies Act, 1956 during the financial year. 6. In our opinion, the Company has Internal Audit system commensurate with the size and nature of its Business. 7. As informed to us the Central Govt, has not prescribed the maintenance of cost records by the Company under Seccion 209 (1) (d) of the Companies Act, 1956 8. (a) According to the records oMhe 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, Cass and other material statutory dues applicable to it. (b) According to the information and explanations given to us, no undisputed amount payable in respect of Income Tax, Wealth Tax. Sales Tax, Customs Duty, Excise Duty and Cess were in arrears, as of 31st March, 2010 for a period of more than six months from the date they became payable. (c) According to the information and explanation given to us, there are no dues of Income Tax, Customs duty, Wealth Tax, Excise duty and Cess (except Sales Tax) which have not deposited on Account of any dispute. 9. The Company has accumulated losses approximating to Rs 38.87 Lacs as at 31s1 March 2010. It has however incurred no cash losses during financial year ended on that date or in the immediately preceding year. 10. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to financial Institutions, Banks or debenture holders. 11. In our opinion and according to the information and explanations given to us, the Company has not granted any loans and advance on the basis of security by way of pledge of shares, debentures and other securities. 12. In our opinion, the Company is not chit fund or a nidhi I Mutual benefit fund / Society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. 13. According to the information and explanation given to us, the Company has maintained proper records of transaction and contracts as to dealing or trading in shares and other investments held by the Company in its own name except to the extent, of the exemption if any, granted under section 49 of the Companies Act, 1956 and timely entries have been made therein. 14. In our opinion and according to the information and explanations given to us, the Company has not given guarantees for loans taken by others from Bank or financial institutions. 15. The Company nas not taken any term loan during the year therefore the question of its application for the purpose for which they were raised does not arise. 16. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that the no funds raised on short - term basis have been used for long-term investment No long-term funds have been used to finance short-term assets except permanent working Capital. 17. The Company has not made any preferential allotment of shares during the year to parties and Companies covered in the register maintained under Section 301 of the Companies Act, 1956. 18. The Company has not issued any debentures during the year and therefore the question of creating security in respect thereof does not arise. 19. The Company has not made any Public Issue during the year and therefore the question of disclosing the end use of money does not arise. 20. According to the information and explanations given to us, based upon the audit procedures performed and representations made by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our Audit. 21. Clause (ii) of the Para 4 of the order are not applicable to the Company for the year ended For M/S SHAH JADAVJI AND CO. Chartered Accountants NAVIN R. GALA, Partner Place : Thane MEM NO.40640 Date : 29/06/2010. FIRM REG NO.:109620W