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Neueon Towers Ltd.

BSE: 532887 | NSE: NTL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE333I01036 | SECTOR: Power - Transmission & Equipment

BSE Live

Nov 26, 16:00
2.34 0.04 (1.74%)
Volume
AVERAGE VOLUME
5-Day
52,308
10-Day
52,221
30-Day
44,341
158,914
  • Prev. Close

    2.30

  • Open Price

    2.30

  • Bid Price (Qty.)

    2.30 (1000)

  • Offer Price (Qty.)

    2.39 (1242)

NSE Live

Nov 26, 15:58
2.30 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
116,742
10-Day
129,075
30-Day
126,445
152,725
  • Prev. Close

    2.30

  • Open Price

    2.35

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2016 2015 2014 2013 2012 2011 2009 2008 2007

Auditor's Report

We have audited the attached Balance Sheet of SUJANA TOWERS LTD as at JUNE 30, 2007, the Profit and Loss Account for the Year ended 30Th JUNE 2007 annexed thereto and the Cash Flow Statement of the Company for the period 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. 1. We conducted our audit in accordance with auditing standards generally accepted in India. These 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. 2. As required by the Companies (Auditors Report) Order, 2003 and amended by the Companies -, (Auditors Report) (Amendment) Order, 2004 issued by the Central Government 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 and 5 of the said Order. 3. 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 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, the Profit and 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, the Profit and Loss Account and the 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; (e) On the basis of written representations received from the directors of the Company, as on June 30, 2007, and taken on record by the Board of Directors, we report that none of the directors are disqualified from being appointed as a director of the Company in terms of Section 274 of the Companies Act, 1956 on the said date; (f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with 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 so far as it relates to the Balance Sheet, of the state of affairs of the Company as at June 30, 2007; ii) In so far as it relates to the Profit and Loss Account, of the Profit of the Company for the period 1st July 2006 to 30th June 2007; and iii) In so far as it relates to Cash Flow Statement, of the cash flows for the period ended on that date. Annexure referred to in our report of even date on the accounts for the period ended 30th June, 2007 1. a. The Company has maintained proper records showing full particulars including quantitative details and situation of the fixed assets. b. The assets are physically verified, in phases, by the Management during the year as per the regular programme of verification, which in our opinion is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies have been noticed on such verification. In respect of certain class of assets, verification of which is in progress, discrepancies if any noticed, will be dealt with appropriately later. c. The assets disposed off during the year are not substantial and therefore do not affect the going concern status of the Company. 2. a. The stock of raw materials, stores, spare parts and finished goods other than in transit have been physically verified during the year by the Management. In our opinion the frequency of verification is reasonable. b. In our opinion and according to the information and explanations given to us the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. c. In our opinion the Company has maintained proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been property dealt with in the books of account. 3. a According to the information and explanations given to us, the Company has not taken any loans from the companies, firms or other parties listed in the register maintained under Section 301 of the companies Act, 1956. b. According to the information and explanations given to us, the Company has not granted any loans to the Companies, firms or other parties listed in the register maintained under Section 301 of the Companies act, 1956. c. The Company has not given any loans or advances in the nature of loans. 4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business, with regard to purchase of Inventory and Fixed Assets and for the sale of goods and services. During the course of our audit, no major weakness has been noticed in the internal control system. 5. a. Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that the contracts or arrangements that need to be entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956 have been properly entered in the said register. b. In our opinion and according to the information and explanations given to us, the transactions entered in the register maintained under Section 301 and exceeding during the financial year by Rupees five lakhs in respect of each party have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 6. The Company has not accepted any deposits from the public within the meaning of Sections 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 framed there under. 7. The Company has an internal audit system, which in our opinion, is commensurate with its size and nature of its business. 8. We have broadly reviewed the books of account maintained by the Company pursuant to the rules 209(1 )(d) of Companies Act, 1956 for maintenance of cost records and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. 9. a) According to the information and explanations given to us and the records of the Company examined by us, the Company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees state insurance, customs Duty, Excise Duty, and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 30th June, 2007 for a period of more than six months from the date of becoming payable. b) According to the information and explanations given to us and the records of the Company examined by us, there are no statutory dues which have not been deposited on account of any dispute. 10. The Company does not have accumulated losses as at 30th June 2007 and it has not Incurred any cash losses in the financial year ended on that or in the immediately preceding financial year. 11. According to the information and explanations given to us and the records of the Company examined by us, the Company has not defaulted in repayment of dues to Financial Institution and Banks as per the One Time Settlement proposal with the Financial Institutions and / or Banks. 12. According to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. 13. The provisions of any special statute applicable to chit fund/mutual benefit fund / Societies are not applicable to the Company. 14. As the Company is not dealing or trading in Shares, Securities, Debentures and other Investments, paragraph (xiv) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company for the year. 15. In our opinion and according to the information and explanation given to us, the terms and conditions on which the Company has given guarantee for loan taken by other Company from bank are not prejudicial to the interest of the Company. 16. The Company has raised new term loans during the year. The term loans outstanding at the beginning of the year and the fresh loans raised have been applied for the purposes for which they were raised. 17. According to the information and explanations given to us and an overall examination of the balance sheet of the Company, we report that no funds raised on a short-term basis which have been used for long-term investment, and vice versa. 18. The Company has not issued any debentures during the year and therefore paragraph 4(xix) of the order is not applicable. 19. The Company had not made any preferential allotment of securities to parties and companies during the year. 20. In our opinion, and according to the information and explanations given to us and as far as we could ascertain no personal expenses have been charged to the revenue account. 21. In our opinion, and according to the information and explanations given to us, the Company is not covered within the definition of Sick Industrial Company as contained in Section 3(l) (O) of the Sick Industrial Companies (Special Provisions) Act, 1985. 22. According to the information and explanations given to us there were no damaged goods in the case of goods purchased for re-sale; 23. During the course of my examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management. For T.RAGHAVENDRA & ASSOCIATES Chartered Accountants Place: Hyderabad T.RAGHAVENDRA Date : 03.09.2007 PARTNER