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Katwa Udyog Ltd.

BSE Live

Nov 26, 16:00
47.70 0.75 (1.60%)
Volume
AVERAGE VOLUME
5-Day
1,566
10-Day
1,655
30-Day
1,890
2,418
  • Prev. Close

    46.95

  • Open Price

    49.00

  • Bid Price (Qty.)

    45.35 (25)

  • Offer Price (Qty.)

    45.95 (100)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
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  • Prev. Close

    -

  • Open Price

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  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

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Katwa Udyog is not listed on NSE

Annual Report

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

Auditor's Report

1. We have audited the attached Balance Sheet of KATWA UDYOG LIMITED. BELGAUM, as at 31st March 2007, Profit and 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. 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 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. 3. As required by the Companies [Auditors Report] Order, 2003 as amended by the Companies (Auditors ReportXAmendment) Order, 2004(the Order), issued by Central Government of India in terms of sub- section (4A) of section 227 of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order. 4. Further, to our comments in the Annexure referred to in 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 purpose 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 the books; iii) The Balance sheet, Profit and Loss Account and cash flow statements dealt with by this report are in agreement with the books of account; iv) In our opinion, the Balance sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956; save the compliance with accounting standards 28 on impairment of assets. v) On the basis of the written representation received from the directors, as on 31st March 2007 and taken on record by the Board of Directors, we report that none of the directors of the company are disqualified as on 31st March 2007 from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Companies Act, 1956;. vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with significant accounting policies and other 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: a) in the case of Balance Sheet of the state of affairs of the Company as at 31st March 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 cash flow statement, of cash flows for the year ended on that date. STATEMENT ON THE COMPANIES [AUDITORS REPORT] ORDER, 2003 ANNEXURE TO THE AUDITORS REPORT KATWA UDYOG LIMITED BELGAUM. Referred to in paragraph 3 of our report of even date: In respect of Fixed Assets: i. a. The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b. The Company has physically verified all the assets during the year in accordance with programme of verification, which in our opinion provides for physical verification of the Fixed Assets at reasonable intervals. According to the information and explanations given to us no material discrepancies were noticed on such verification c. In our opinion and according to the information and explanations given to us, the Company has not made any substantial disposal of assets during the year and therefore the going concern concept is not affected. d. In our opinion and according the information and explanation given to us, the company has purchased additional machinery spares amounting to Rs. 53,98,7517- and deducted modvat credit of Rs. 13,72,458/. Net amount of Rs.40,26,293/- is shown under schedule Fixed Assets. In respect of Inventories: ii. a. As explained to us the management during the year physically verified the inventories. In our opinion, the frequency of verification is reasonable. b. In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management were reasonable and adequate in relation to the size of the company and in the nature of its business c. In our opinion and according to the information and explanations given to us, the company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification. iii a. The company has not granted loans, secured and unsecured to Companies, Firms or Other parties, covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, sub- clause (b)(c) and (d) are not applicable b. The Company has not given loan and advances in the nature of loans to employees iv. In our opinion and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the company and the nature of its business with regards to purchase of inventory, fixed assets and with regard to the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system. v. In our opinion and according to the information and explanations given to us, the company has not entered into any transactions requiring entry in the register of contracts under section 301 of the Companies Act, 1956. vi. In our opinion and according to information and explanations given to us, the company has accepted public deposit, and the company has by and large complied with the provisions of section 58A,58AA of the Companies Act, 1956 and the Companies (Acceptance of the Deposit ) Rules, 1975 with regard to the deposit accepted from public. No order has been passed by the Company Law Board or Reserve Bank of India or any Court or any other Tribunal. vii. In our opinion, the company has an internal audit system commensurate with the size and nature of its business, but it needs to be strengthened. viii. It is reported by the management that the Company has engaged the services of a qualified Cost Accountant for advising it on the compliance with the requirements of cost records as required u.s. 209(l)(d) of the Companies Act 1956. The Cost Accountant has issued a certificate stating that the Company has complied with the requirements as required u.s. 209(1) (d) of the Companies Act 1956. ix. According to the records of the company, Provident Fund, Investors Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom duty, Excise duty, Cess, Fringe Benefit Tax and other material statutory dues applicable to it have been generally regularly deposited during the year with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of above were in arrears, as at March 31, 2007 for a period of more than six months form the date on which they became payable. x. According to the information and explanations given to us, there are no dues of Income Tax, Service Tax, Wealth Tax, Sales Tax, Custom Duty, Excise Tax, and Cess Fringe Benefit Tax, which have not been deposited on account of any dispute. xi. The company does not have accumulated losses at the end of the financial year and had not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. xii. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to a financial institution, bank or debenture holders. xiii. Based on our examination of the records and the information and explanation given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. xiv. In our opinion, the company is not a chit fund or a nidhi / mutual benefit fund / society Therefore, the provisions of clause 4 (xiii) of the order are not applicable to the Company. xv. In our opinion, as per the information and explanations given to us the company has not given any guarantee for the loans taken by others, xvi. In our opinion, the term loans have been applied for the purpose which they were raised. xvii. According to the cash flow statement and other records examined by us and the information and explanations given to us, on an over all basis, funds raised on short term basis have prima facie, not been used during the year for a long term investment ( fixed assets etc) other than temporary deployment pending application, xviii. According to the information and explanations given to us, the company has not made any preferential allotments of shares to parties and companies covered in the register maintained under section 301 of the Act. xix. According to the information and explanations given to us, during the period covered by our audit report the company has not issued any debentures. xx. The Company has not raised any money by public issue during the year, xxi. According to the information and explanation given to us, no fraud on or by the company has been noticed during the course of our audit Place : Belgaum Prabhakar K. Latkan Date: 13/08/2007 Chartered Accountant M.No. 200/21730