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Natura Hue Chem Ltd.

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Dec 13, 16:00
0.98 0.04 (4.26%)
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1,266
10-Day
1,588
30-Day
2,391
451
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Natura Hue Chem is not listed on NSE

Annual Report

For Year :
2014 2013 2011 2007 2006

Auditor's Report

Report on the Financial Statements We have audited the accompanying financial statements of M/S NATURA HUE CHEM LIMITED (the Company), which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information, which we have signed under reference to this report. Management''s Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards notified under ''the Companies Act, 1956'' of India (the Act) read with the General Circular 15/ 2013 dated September 13, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013,This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, subject to note given below, and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act 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 the Balance Sheet, of the state of affairs of the Company as at March 31, 2014; b. in the case of the Profit and Loss Account, of the loss for the year ended on that date; and c. in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) order, 2003 including companies (Auditors Report) (Amendment) order 2004 issued by the Central Government of India in terms of Sub-section (4A) of section 227 of the companies Act, 1956, we enclose in the Annexure a Statement on the matters specified in paragraphs 4 & 5 of the said order. 2. As required by section 227(3) of the Act, 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 purposes of our audit. b. 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 those books c. the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account. d. In our opinion, subject to point no. 3 given below the Balance Sheet, Profit & 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 read with general circular 15/2013 dated 13 September2013 of Ministry of Corporate Affairs in respect of section 133 of the Companies Act 2013 and e. On the basis of written representations received from all the directors as on March 31,2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Companies Act, 1956. 3. Attention of the members is drawn to the following Notes:- Note No. 11 of Notes on financial statements regarding certain disclosure relating to Micro / Small / Medium Enterprises. ANNEXURE TO THE AUDITOR''S REPORT REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE I. a. The company has maintained proper records to show its full particulars including quantitative details and situation of fixed assets. b. As explained to us, all the fixed assets have been physical verified by the management with a phased programme over the year, which in our opinion is reasonable having regard to the size of the company and the nature of its assets. No serious discrepancies were noticed on such verification conducted during the year as compared with the books records. c. The Company has not disposed off any fixed assets of the Company during the year under audit. II. The Company is a service company, primarily rendering Cargo Handling services; Accordingly Clause 4(ii) (a) to (c) of CARO 2003 is not applicable to the Company. III. As informed by us, the Company has neither granted nor taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Since the Company has neither granted nor taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956, clauses 4(iii) (a) to (g) of CARO 2003 are not applicable to the Company. IV. In our opinion and according to the information and explanations there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to supply of services. Further, on the basis of our examination, and according to the information and explanations given to us, we have neither come across nor have been informed of any instance of major weaknesses in the aforesaid internal control procedures. V. a) According to the information and explanations given to us, Company has not entered into any contract or arrangement referred to in section 301 of the act. b) As the Company has not entered into any transaction, no comments have been given in respect of Clause 4(v) of the CARO, 2003. VI. In our opinion according to the information and explanations provided by the management, in our opinion, the company has not accepted any public deposits. Hence no comments have been given in respect of Clause 4(vi) of the CARO, 2003. VII. The Company does not have a formal internal audit system. However, in our opinion, there are adequate internal control procedures commensurate with the size and nature of the business. VIII. The Central Government of India has not prescribed the maintenance of cost records under section 209(1 )(d) of the Companies Act, 1956, for any of the services rendered by the Company. IX. a) According to the information and explanations given to us and according to the books and records as produced and examined by us, in our opinion, undisputed statutory dues including provident fund, employee''s state insurance, income tax, sales tax, wealth tax, service tax, customs duty, excise duty, cess and other material statutory dues applicable to the Company have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, sales tax, wealth tax, service tax, customs duty, excise duty and cess were in arrears, as at 31st March 2014 for a period of more than six months from the date they became payable. b) As on 31st March 2014, according to the records of the Company, there are no dues of sales tax, income-tax, customs tax / wealth tax, excise duty, Service Tax / cess on account of any dispute. X. The Company''s accumulated losses at the end of the financial year are less than fifty per cent of its net worth. However, it has incurred cash losses both in current year as well as in the immediately preceding financial year. XI. Since there is no borrowing from Bank / Financial Institution, Hence no comments have been given in respect of Clause 4(XI) of the CARO, 2003. XII. According to the information and explanations given to us and based on the documents and records produced before us, the Company has not granted any loans and advances on the basis of pledge of shares, debentures and other securities. XIII. In our opinion and to the best of our knowledge and according to the explanations provided by the management, that the company is neither a Chit Fund nor a Nidhi/mutual benefit society. Hence, the requirements of Clause 4(xiii) of CARO, 2003 do not apply to the Company. XIV. In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provision of clause 4 (xiv) of CARO 2003 is not applicable to the company. XV. The Company has not given guarantees for loans taken by others from bank or financial institutions. Accordingly, the provision of clause 4 (XV) of CARO 2003 is not applicable to the company. XVI. The Company has neither raised any term loans during the year nor was any unutilized amount left on this account, as at the beginning of the year. Therefore, the provision of clause 4 (XVI) of CARO 2003 is not applicable to the company. XVII. 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 investment by the Company. XVIII. The Company has not made any fresh allotment of shares during the year. XIX. The Company did not issued debentures during the year. XX. The Company has not raised any money by public issue during the period covered by our audit report. XXI. To the best of our knowledge and belief, and according to the information and explanations given to us, and the records of the Company examined by us, no material fraud on or by the Company was noticed or reported during the course of our audit. FOR, MADHURESH GUPTA AND CO CHARTERED ACCOUNTANTS FIRM REGN/N0.005910C (MADHURESH GUPTA) PROPRIETOR M.NO.07436 PLACE: RAIPUR DATE: 01.09.2014