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Krebs Biochemicals & Industries Ltd.

BSE: 524518 | NSE: KREBSBIO |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE268B01013 | SECTOR: Pharmaceuticals

BSE Live

Apr 09, 16:00
73.35 -2.20 (-2.91%)
Volume
AVERAGE VOLUME
5-Day
483
10-Day
3,440
30-Day
2,114
690
  • Prev. Close

    75.55

  • Open Price

    76.90

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 09, 15:53
73.70 -1.90 (-2.51%)
Volume
AVERAGE VOLUME
5-Day
4,453
10-Day
3,035
30-Day
3,258
10,039
  • Prev. Close

    75.60

  • Open Price

    78.35

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2012 2011 2010 2009 2008

Auditor's Report

We have audited the attached Balance Sheet of KREBS BIOCHEMICALS & INDUSTRIES LIMITED as at 31.03.2008 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. 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. 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, we enclose in the Annexure a statement on the matters specified in paragraph 4 and 5 of the said order. Further to our comments in the annexure referred to 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 accounts as required by law have been kept by the company so for as it appears from our examination of those books. c) The Balance Sheet, Profit & Loss account and the Cash Flow statement dealt with by this report are in agreement with the books of account. d) In our opinion, the Balance Sheet, Profit and Loss account and the Cash Flow statement dealt with by this report comply with the mandatory Accounting Standards referred to in Sub-Section 3(C) of Section 211 of the Companies Act1956. e) On the basis of the written representations received from the directors, as on 31st March 2008 and taken on record by the Board of Directors, we report lhat none of the directors is disqualified as on 31st March 2008 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act1956. f) In our opinion and to the best of our information and according to the explanations given to us, the said 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 the case of the Balance Sheet, of the state of affairs of the Company as at 31st Mrach2008; ii) In the case of the Profit and Loss Account, of the Loss of the Company for the year ended on that date; and iii) In the case of the cash flow statement, of the cash flows for the year ended on that date. ANNEXURE TO AUDITORS REPORT KREBS BIOCHEMICALS & INDUSTRIES LIMITED 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 not been physically verified by the management during the year but 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 business. No material discrepancies were noticed on such physical verification. (c) According to the information and explanations furnished to us, the Company has not disposed of a substantial part of its fixed assets during the year. 2. (a) The inventories have been physically verified by the management during the year at reasonable intervals. (b) The procedures of physical verification of the inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) The company has maintained proper records c Inventories and discrepancies noticed on physical verification of inventories as compared to book records were not material. 3. (a) In our opinion, the Company has neither granted nor taken any loans to/from companies, firms or other parties covered in the Register, maintained under Section 301 of the Companies Act, 1956; (b) In our opinion, the rate of interest and other terms and conditions in respect of unsecured loans given by the company to its employees and others, are in our opinion, prima facie not prejudicial to the interest of the Company; (c) In respect of such loans given by the Company, where stipulations have been made, they have generally repaid the principal amounts as stipulated and have been regular in payment of interest, where applicable; (d) In respect of such loans given by the Company, there are no overdue amounts more than Rs. 1,00,000/-. 4. In our opinion, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regard to purchase of inventories, fixed assets and for the sale of goods. 5. (a) In our opinion, there are no transactions made in pursuance of contracts or arrangements, that need to be entered into the register maintained under section 301 of the Companies Act, 1956. (b) In our opinion, there are no transactions of purchase and sale of goods, materials and services made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 aggregating during the year to Rs.5,00,000/- or more in respect of each party, 6. In our opinion and according to the information and explanation given to us, the Company has not accepted any deposits as defined under section 58A of the Companies Act 1956. 7. In our opinion, the Company has an adequate internal audit system commensurate with its size and nature of its business. 8. We have broadly reviewed the Bocks of Account maintained by the Company as prescribed by the Central Government for maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 and are of the opinion that prima facie the prescribed accounts and records have been made and maintained. However, we have not carried out a detailed examination of the accounts and records. 9. (a) According to the books and records of the company, the company is not regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax and other Statutory dues with appropriate authorities. According to the information and explanations given to us, there are undisputed amounts payable in respect of such statutory dues which have remained outstanding as at 31st March, 2008 for a period exceeding six months from the date they became payable. (b) Disputed Excise Duty, Income Tax & Sales Tax not deposited, has been disclosed in point No.7 of Schedule 18(B) as Contingent Liabilities not provided for. Name of the Nature of the Statute Dues The Central Excise Duty Excise Act1944 CST Act Sales Tax APGST Act Sales Tax Income Tax Act Income Tax Amount Forum where dispute (Rs.) is pending 1,03,047 Central Excise and Service Tax Appellate Tribunal, Bangalore 1,89,63,106 AP High Court 3,23,410 AP High Court 3,09,97,399 Commissioner of Income Tax (Appeals)-III, Hyderabad 10. In our opinion, the accumulated losses of the company are not more than fifty percent of its net worth. The company has not incurred cash losses during the financial year covered by our audit and has incurred cash loss in the immediately preceding financial year. 11. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of its dues to banks and financial institutions to the extent of Rs. 249.38 laks towards principal Rs. 34.47 laks towards interest. 12. The Company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures or other securities. 13. 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 Companies (Auditors Report) order, 2003 are not applicable to the company. 14. In our opinion, the Company is not dealing or trading in shares, securities, debentures or other investments and hence, the requirements of clause 4(xiv) of the Companies (Auditors Report) order, 2003 are not applicable to the Company. 15. According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks, and financial institutions. 16. In our opinion, the term loans have been applied for the purpose for which they were raised. 17. In our opinion and according to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short-term basis have been used for long-term investments. No long-term funds have been used to finance short-term assets except permanent working capital. 18. According to the information and explanation given to us, the company has made preferential allotment of shares to parties covered in the register maintained under Section 301 of the Act. In our opinion, the price at which shares have been issued is not prejudicial to the interest of the company. 19. No debentures have been issued by the company and hence, the question of creating securities in respect there of does not arise. 20. The company has not raised any money by way of public issues during the year. 21. 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 year. For G.P. ASSOCIATES CHARTERED ACCOUNTANTS Place : Hyderabad Date : 25.07.2008 Sd/- (P.A.RAMAIAH) PARTNER M.No.203300