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Mirza International Ltd.

BSE: 526642 | NSE: MIRZAINT |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE771A01026 | SECTOR: Leather Products

BSE Live

Oct 18, 16:00
63.75 -0.30 (-0.47%)
Volume
AVERAGE VOLUME
5-Day
122,511
10-Day
155,081
30-Day
99,016
69,854
  • Prev. Close

    64.05

  • Open Price

    63.40

  • Bid Price (Qty.)

    63.75 (1001)

  • Offer Price (Qty.)

    63.75 (1000)

NSE Live

Oct 18, 16:01
63.70 -0.50 (-0.78%)
Volume
AVERAGE VOLUME
5-Day
1,223,616
10-Day
1,509,186
30-Day
1,017,722
778,609
  • Prev. Close

    64.20

  • Open Price

    64.40

  • Bid Price (Qty.)

    63.70 (2418)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

We have audited the attached Balance Sheet of M/s MIRZA INTERNATIONAL LIMITED [formerly known as MIRZA TANNERS LIMITED] as at March 31,2006 and also the Profit & Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit. 1. We have conducted our audit in accordance with auditing standards generally accepted in India. Those standards required that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. 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 over all financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 2. As required by the Companies (Auditor's Report) Order, issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956. We annex hereto a statement on the matters specified in the said order. 3. Further to our comments in the Annexure referred to in paragraph (2) above, we report that: (a) We have obtained all 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 the law, have been kept by the Company so far it appears from the examination of the said books: (c) The Balance Sheet and the Profit and Loss Account dealt with by this report are in agreement with the Books of Accounts. (d) In our opinion, the Balance Sheet and the Profit & Loss Account comply with the Accounting Standards referred to in sub section (3C) of Section 211 of the Companies Act, 1956. (e) On the basis of the written representations received from the directors and taken on record by the Board of Directors, we report that none of the directors is disqualified from being appointed as a director in terms of clause (g) of sub-section (1) of Sec.274 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 accounts read with and subject to 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 the case of the Balance Sheet of the state of affairs of the Company as at 31st March, 2006 and; ii) In the case of the Profit & Loss Account of the Company of the profit of the company for the year ended on that date. iii) In case of Cash Flow statements of the cash flows for the year ended on that date. For Khamesra Bhatia & Mehrotra Chartered Accountants ANAND SAXENA Place : Kanpur Partner Date : June 20, 2006 M.No. 075801 Annexure to the Auditors' Report Referred to in paragraph 2 of our report of even date, In terms of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief we state that (i) (a) The Company has maintained proper books/records to show full particulars including quantitative details and situations of its fixed assets. (b) All the assets have not been physically verified by the management during the year but a regular programme of verification by rotation is in force, 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) Fixed Assets disposed off during the year were not substantial and such sale has not affected the going concern of the company. (ii) (a) Inventory has been physically verified at the year-end by the management. In our opinion, the frequency of verification is reasonable. (b) The procedures of physical verification of 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 is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt with in the books of account. (iii) (a) The company has not granted any loans, secured or unsecured to companies, firm or other parties covered in the register maintained under section 301 of the Companies Act, 1956: (b) (c) The Company has not granted any loans, secured or & (d) unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956, thus paragraphs (iii) (b), (c), & (d) of the Order are not applicable. (e) The company has not taken any loans from parties covered in the register maintained under section 301 of the Companies Act, 1956 during the year. (f) In our opinion, the rate of interest and other terms and conditions on which loans have been taken from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the company (g) The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. (h) There is no overdue amount of loans taken from parties listed in the register maintained under Section 301 of the Companies Act, 1956. (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 regard to purchases 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 controls. (v) (a) According to the information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been entered in the register required to be maintained under that section. (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 are made at prices which are reasonable having regard to prevailing market prices at the relevant time. (vi) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 58A, 58AA or any other provisions of the Companies Act, 1956 and Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. No order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other tribunal in this regard. (vii) In our opinion, the company has an internal audit system commensurate with the size and nature of its business. (viii) We have broadly reviewed the books of accounts maintained by the company in respect of products where pursuant to the Rules made by the Central Government, the maintenance of cost records has been prescribed under clause (d) of subsection (1) of section 209 of the Companies Act, 1956 and are of the opinion that prima facie the prescribed accounts and records have been made and maintained. We have however not made a detailed examination of the records with a view to determine whether they are accurate or complete. (ix) (a) According to information & explanations given to us and the records of the company examined by us, in our opinion, the company is generally regular in depositing undisputed statutory dues including provident fund, investor education protection fund, employees' state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other material statutory dues applicable to it with the appropriate authorities. (b) According to the information and explanations given to us and the records of the company examined by us, in our opinion, no undisputed amounts payable in respect of provident fund, investor education protection fund, employees' state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty and cess were in arrears, as at 31st March, 2006 for a period of more than six months from the date they became payable. (c) According to the information and explanations given to us and the records of the company examined by us, in our opinion, there are no amounts payable in respect of provident fund, investor education protection fund, employees' state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty and cess, which have not been deposited on account of any dispute. However in case of sales tax and income tax, demands aggregating Rs. 264.90 lacs have not been deposited on account of disputes as the details below: Related Authority Financial Disputed to where Year Amount case is pending Rs in Lac Entry Tax/ High Court 1999-2000 Rs. 4.06 Trade tax Allahabad Entry Tax/ High Court 2000-2001 Rs. 15.95 Trade tax Allahabad Income tax High Court 2002-2003 Rs. 50.33 Allahabad Income tax C.I.T. (Appeals) 2003-2004 Rs. 194.56 Rs. 264.90 (x) The company does not have any accumulated losses at the end of the financial year and has not incurred cash losses in the financial year and in the immediately preceding financial year. (xi) The company has not defaulted in repayment of dues to financial institution, bank or debenture holders. (xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion and according to information and explanations given to us the company is not a chit fund or a nidhi or mutual benefit fund/society. Accordingly, the provisions of clause 4 (xiii) of the Order are not applicable to the company. (xiv) According to information and explanations given to us the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Order are not applicable to the company. (xv) On the basis of records examined by us and information provided by the management, we are of the opinion that the company has not given guarantees for loans taken by others from banks or financial institutions. (xvi) In our opinion, the term loan raised by the company during the year has been applied for the purpose for which it was raised. (xvii) Based on an overall examination of the Balance Sheet of the company and a review of the consolidated Fund Flow Statement for the year, we report that no funds raised on short-term basis have been used for long-term investment. (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, during the year. (xix) The company has not issued any debentures during the year. Therefore provisions of clause 4 (xix) of the Order are not applicable to the company. (xx) The company has not raised any money from the public during the year under audit, (xxi) According to the information and explanation given to us, no fraud on or by the company has been noticed or reported during the year. For Khamesra Bhatia & Mehrotra Chartered Accountants ANAND SAXENA Place : Kanpur Partner Date : June 20, 2006 M.No. 075801