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Lykis Ltd.

BSE: 530689 | NSE: | Series: NA | ISIN: INE624M01014 | SECTOR: Plantations - Tea & Coffee

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Jul 26, 15:40
40.90 0.00 (0.00%)
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57,653
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51,044
30-Day
31,423
47,319
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    40.90

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    45.15

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  • Offer Price (Qty.)

    40.90 (1859)

NSE Live

Dec 27, 11:22
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Lykis is not listed on NSE

Annual Report

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

Auditor's Report

We have audited (he attached Balance Sheet of GREEN TEA & EXPORT LTD., as at 31st March. 2008 and also the annexed profit & Loss Account of the Company for the year ended on that date annex thereto. This financial statements arc the responsibility of the companys management. Our responsibility is to express an opinion on these financial statement based on our audit. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that wo plan and perform that 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 responsible basis for our opinion. And we report that: 1. The Balance Sheet and Profit and Loss Account referred to in this report arc in agreement with the Books of Account. 2. (a) In our opinion and to the best of your information and according to the explanations given to us. the Balance Sheet and Profit and Los Account subject to and read together with the Notes appearing thereon in Schedule A of significant accounting policies and notes on accounts attached thereto, given in the prescribed manner the information required by the Companies Act. 1956 and subject to below mentioned Notes on para 2.(b) give true and fair view. (i) In so far as it relates to Balance Sheet, of the state of affairs of the company as as 31st March.2008 and (ii) in so far as if relates to Profit & Loss Account, of the loss of the company for the year ended on that date. (b) (i) Note B-1 (ii) on schedule B regarding adequacy or otherwise of estimated liability for future payment of gratuity of Rs. 302295.34 which is being accounted for on cash Basis and not based on actual basis (ii) The Company has not provided interest on certain advances and loans, the effect of the same on current years accounts has not boon ascertained by the management. 3. We have obtained all the information and explanations which to the best of your knowledge and belief were necessary for the purpose of our audit. 4. In our opinion, proper books of accounts as required by law have boon kept by the company so as far as appears form our examinations of such books subject to notes 2(b) above. 5. The company has complied with the accounting standards as referred in See 211 (3c) of the Companies Act, 1956. 6. On the basis of written representations received from the Directors and taken on record by Board of Directors, we report that none of the Directors is disqualified as on 31st March, 2007 from being appointed as director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956. 7. As required by the Companies (Auditors Report) order 2003, issued by the company law Board in terms of Section 227(4A) of the Companies Act, 1956 and on the basis of such chocks as wo considered appropriate and according to information and explanation given to us during the course of our audit we further state that: (i) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed assets. The Company has a phased programme of physical verification of its fixed assets which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. Accordance with such programme, the management has physically verified fixed assets during the year and no material discrepancies were noticed on such verification. (ii) The stock of inventory has been physically verified during the year by the Management at reasonable intervals. In our opinion, the procedures of physical verification of inventory followed by the management reasonable and adequate in relation to the size of the company and the nature of its business. The company is maintaining the proper records of inventory. The discrepancies noticed on physical verification of stocks as compared to books record were not material, however the same have been property dealt with the books of account. (iii) As informed by the company, it has neither granted nor taken any loans, secured or unsecured to or from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act: 1956 during the year. Other Loans and advances in nature of Advance or loans has been given by the Company which are repayable on demand and without any specific stipulation so we are unable to comment on repayment of the same. (iv) In our opinion and according to the information and explanations given to us, there are adequate internal control Procedure commensurate with the size of the company and the nature of its business of its business with regard to purchase of inventory and fixed assets and with regard to the sale of goods. We have not noted any continuing failure or major weakness during the course of the audit in this regard. (v) The Company has not purchased or entered into any transaction of contract for purchase of goods and materials with parties as listed under section 301 of the Companies Act, 1956 during the year, (vi) The Company has not accepted any deposits from the public and consequently, the directives issued by the Reserve Bank of India, the provisions of Section 58A and 58AA of any other relevant provision of the Companies Act, 1956 and the rules framed there under are not applicable. (vii) In our opinion, the Company has an internal audit system commensurate with its size and the nature of its business. (viii) According to the information and explanations given to us, the Central Government has not prescribed the maintain acne of cost records under clause (d) of sub-section (1) of Section 209 of the Companies Act, 1957 in respect of activities carried out by the Company. (ix) According to the information and expiations given to us. and on the basis of our examination of the books of account, the Company has not been regular in depositing with appropriate authorities undisputed statutory dues of provident fund, sale-tax, Vat, cess on green leaf and other statutory dues. According to the information and explanation given to us, there were undisputed amounts outstanding as at 31.03.2008 in respect of provident fund amount to Rs. 2882025.04 Sales Tax amount to. Rs. 105858.18 Cess on Greeen leaf amounting to Rs. 1856715042, Profession Tax amounting to Rs. 44680 for a period of more than six months from the date they become payable. According to the information and explanation given to us, there are no dues in respect of sales tax. customs duty, excise duty, and cess that have not boon deposited with the appropriate authorities on account of any dispute. (x) The Companys accumulated loss at the end of the year are less than the fifty percent of its net worth. The company has not incurred cash losses in the current financial year. (xi) (During the year the Company has neither taken any frash loan from a financial institution and a bank nor issued any debentures during the year. Accordingly, clause 4(xi) of the order is not applicable. (xii) The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures during the year. Accordingly. Clause 4(xii) of the order is not applicable. (xiii) The Company is not a chit fund, nidhi, mutal benefit fund or a society. Accordingly, caluse4 (xiii) of the order is not applicable. (xiv) According to the information and explanations given to us, the Company is not dealing or trading in shares securities, debentures and other investments. Accordingly clause 4 (xiv) of the order is not applicable. (xv) According to the information and explanations, the company has not given any guarantee for loans taken by other from banks of other financial institutions. Accordingly, clause 4 (xv) of the order is not applicable. (xvi) During the year, the company has not obtained any fresh loans. Accordingly, clausc4, (xvi) of the order is not applicable. (xvii) According to information and explanation given to us, the fund raised on short term basis has not been used for long term investments. (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. Accordingly, clause 4 (xviii) of the order is not applicable. (xix) The Company has not issued any debentures. Accordingly clause 4(xix) of the order is not applicable. (xx) The Company has not raised any money by public issues during the year. Accordingly, clause 4 (xx) of the order is not applicable, (xxi) According to the information and explanations given to us, no fraud or by the company has been noticed reported during the year. For R. K. JAGNANI & CO. Chartered Accountants Place : Kolkata R.K.JAGNANI Dated : The 20th day of August, 2008 Proprietor