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Navneet Education Ltd.

BSE: 508989 | NSE: NAVNETEDUL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE060A01024 | SECTOR: Printing & Stationery

BSE Live

Sep 24, 16:00
103.45 3.00 (2.99%)
Volume
AVERAGE VOLUME
5-Day
48,403
10-Day
49,523
30-Day
49,704
65,611
  • Prev. Close

    100.45

  • Open Price

    100.45

  • Bid Price (Qty.)

    103.00 (4)

  • Offer Price (Qty.)

    103.50 (1075)

NSE Live

Sep 24, 15:58
103.05 2.65 (2.64%)
Volume
AVERAGE VOLUME
5-Day
499,478
10-Day
411,436
30-Day
416,419
676,601
  • Prev. Close

    100.40

  • Open Price

    101.10

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    103.05 (4)

Annual Report

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

Auditor's Report

We have audited the attached Balance Sheet of NAVNEET PUBLICATIONS (INDIA) LIMITED, as at 31st March 2010, the Profit and Loss Account and the Cash Flow Statement of the Company 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 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 the 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 of our opinion. 1. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclosed in the Annexure attached here to, a statement on the matters specified in paragraphs 4 and 5 of the said Order. 2. Further to our comments in the Annexure referred to in para (1) 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 far as appears from our examination of the books. c) The Balance sheet, Profit and Loss Account and 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 Cash Flow Statement dealt with by this report, is in compliance with the Accounting Standards specified by the Institute of Chartered Accountants of India, referred to in sub-section (3C) of section 211 of the Companies Act, 1956; to the extent applicable to the Company. e) On the basis of written representations received from the directors, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March, 2010 from being appointed as a director in terms of clause (g) of sub- section (1) of section 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 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 March 2010. ii. In the case of the Profit and Loss account, of the profit 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 the Auditors Report (Referred to in paragraph 1 of our report of even date on the accounts for the year ended 31st March, 2010 of Navneet Publications (India) Limited) 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 verified by the management during the year but, according to the information and explanations given to us, and in our opinion the intervals for verification are reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification. c) In our opinion, fixed assets disposed off during the year were not substantial and therefore do not affect the going concern assumption. 2. a) In our opinion, the inventory of the Company has been physically verified by the management at reasonable intervals. In respect of inventory lying with third parties, these have substantially been confirmed by them. b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business. c) In our opinion and according to the information and explanation given to us, the Company has maintained proper records of its inventories and discrepancies noticed on such physical verification between stock and the book records were not material. 3. a) According to information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clause 4(iii) (b), (c) and (d) of the Companies (Auditors Report) Order, 2003 are not applicable. b) In our opinion and according to the information and explanation given to us, and as it appears from Register maintained under section 301 of the Companies Act, 1956, the Company has not taken any loans, secured or unsecured, from companies, firms or other parties listed in the said Register. Consequently, the provisions of clause 4(iii) (e), (f) & (g) of the Companies (Auditors Report) Order, 2003 are not applicable. 4. In our opinion and according to the information and explanations given to us, the Company has adequate internal control system commensurate with the size of the Company and nature of its business with regard to purchase of inventories and fixed assets and for the sale of goods and 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 we been informed of any instance of continuing failure to correct major weaknesses in internal control. 5. a) In our opinion and to the best of our knowledge and belief, and according to information and explanation given to us, the particulars of contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been entered in the register maintained under section 301 of the Companies Act, 1956. 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 and exceeding value of Rs.5,00,000/- in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time. 6. The Company has not accepted any deposits from the public within the meaning of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed thereunder. 7. In our opinion, the Company has an adequate internal audit system commensurate with the size and nature of its business. 8. According to information and explanations given to us, the Central Government has not prescribed maintenance of cost records under Clause (d) of sub-section (1) of section 209 of the Companies Act, 1956, for the industry in which the Company operates. 9. 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, the undisputed statutory dues in respect of provident fund, investors education and protection fund, employees state insurance, income tax, VAT, wealth tax, service tax, custom duty, excise duty, cess and others as applicable have been regularly deposited by the Company during the year with the appropriate authorities. b) According to information and explanation given to us, there are no dues outstanding of VAT, income tax, customs duty, wealth tax, service tax, excise duty and cess, which have not been deposited on account of any dispute, except for the following. Name of the Nature of Dues Amount Forum where Staute (In Lacs) disputes is Rs. Pending IT. Act, 1961 Assmt. Dues A.Y. 00-01 26.08 I.T.A.T. IT. Act, 1961 Assmt. Dues A.Y. 01-02 80.36 I.T.A.T. IT. Act, 1961 Assmt. Dues A.Y. 03-04 3.03 I.T.A.T 10. The Company has neither accumulated losses as at March 31, 2010, nor it has incurred any cash losses during the financial year ended on that date and the immediately preceding financial year. 11. According to information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders during the year. 12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. The Company is not a chit or a nidhi/mutual benefit fund/ society, therefore, the clause 4(xiii) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company. 14. In our opinion anri according tn tho informntion-afvfl- explanations given to us, the Company is not a dealer or trader in securities. Hence clause 4(xiv) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company. 15. The Company has given guarantee for loans taken by others from banks and in our opinion, the terms and conditions of such guarantee is not, prima facie, prejudicial to the interest of the Company. 16. The Company has obtained term loan during the year.and in our opinion and according to the information and explanations given to us, the term loan obtained are applied for the purpose for which the loans are obtained. 17. According to the information and explanations given to us and on an overall examination of the balance sheet and cash flow of the Company, we report that no funds raised on short- term basis have been used for long-term investment. 18. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956 during the year. 19. The Company has not issued any debentures during the year. Hence clause 4(xix) of the Companies (Auditors Report) order, 2003 is not applicable to the company. 20. The Company has not raised any money by public issue during the year. Hence clause 4(xx) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company. 21. According to the information and explanations given to us, during the year, no fraud by or on the Company has been noticed or reported during the course of our audit. For Ghalla & Bhansali Chartered Accountants (Registration No. 103142 W) sd/- Haresh K.Chheda Partner Membership No. 38262 Place : Mumbai Date : 24th June, 2010