you are here:

OM Infra Ltd.

BSE: 531092 | NSE: OMINFRAL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE239D01028 | SECTOR: Engineering

BSE Live

Oct 14, 15:53
32.70 -0.40 (-1.21%)
Volume
AVERAGE VOLUME
5-Day
23,709
10-Day
29,613
30-Day
19,503
25,948
  • Prev. Close

    33.10

  • Open Price

    32.10

  • Bid Price (Qty.)

    32.80 (10)

  • Offer Price (Qty.)

    33.40 (350)

NSE Live

Oct 14, 15:59
32.85 -0.20 (-0.61%)
Volume
AVERAGE VOLUME
5-Day
258,164
10-Day
242,774
30-Day
161,679
177,017
  • Prev. Close

    33.05

  • Open Price

    33.55

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    32.85 (6628)

Annual Report

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

Auditor's Report

1. We have audited the attached balance sheet of M/s. OM METALS INFRA PROJECTS LIMITED, JAIPUR, as at 31.03.2010 and also the profit and loss account and the cash flow statement of the company for the year ended on that date annexed thereto, in which are incorporated financial statements of Engineering, Real Estate & Hotel Divisions of the Company audited by other auditors. 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. 2. We conducted our audit in accordance with 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 a test basis, evidence, supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principal 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. 3. As required by the Companies ( Auditors Report ) order , 2003 (as amended) issued by the Central Government of India in terms of subsection (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. 4 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 accounts as required by law have been kept by the company so far as appears from our examination of those books and proper returns adequate for the purposes of our audit have been received from the Engineering, real Estate and Hotel divisions not visited by us. The branches/divisions Auditors reports have been forwarded to us and have been appropriately dealt with. 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 and with the final statement of accounts, audited by other auditors of the Engineering, Real Estate and Hotel divisions of the company. d) In our opinion, the balance sheet , profit and loss account and cash flow statement dealt with by this report comply with the applicable accounting standards referred to in sub-section (3C) of section 211 of the Companies Act 1956, the company has not complied with the requirements of AS - 15 relating retirement benefit so far as it relates to provision of the liability as per actuarial valuation and its disclosers in the statement of accounts. The impact of this non compliance in the figures of current liability (Provisions) and profits could not be given due to non availability of actuarial valuation of the above liability. e) On the basis of written representations received from the directors, as on 31.03.2010 and taken on record by the Board of Directors, we report that none of the directors of the company is disqualified as on 31.03.2010 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 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 except where otherwise stated. i) in the case of the balance sheet , of the State of affairs of the Company as at 31.03.2010 and. (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 of the company for the year ended on that date . ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE TO THE MEMBERS OF M/S OM METALS INFRAPROJECTS LIMITED , JAIPUR (RAJ.) ON THE ACCOUNTS AS AT AND FOR THE YEAR ENDED ON 31st MARCH, 2010 On the basis of the information and explanations given to us and on the basis of such checks as we considered appropriate, our statement on the matters specified in para 3 and 4 of the said order is given below. In preparing the report, we have considered the report made under the aforesaid order by other auditors, who have audited the accounts of the Divisions of Engg., Real estate and Hotel of the Company. 1. In respect of its fixed assets. a) The Company has maintained proper records showing full particulars, including quantitative details and situation on fixed assets. b) The management has carried out a physical verification of most of its fixed assets during the year and has a program to verify fixed assets physically in a phased manner. In our opinion, the frequency of verification is reasonable having regard to the size of the company and the nature of its fixed assets. No material discrepancies were noticed on such physical verification . The assets disposed off during the year are not substantial and therefore d not affect the going concern status of the company. 2(a) The inventory other than goods in transit of the company has been physically verified during the year by the management at the year end. In our opinion, the frequency of such verification is reasonable according to the nature of the business. (b) In our opinion and according to the information and explanation given to us, the procedures of physical verification of inventories followed by the management were reasonable and adequate in relation to the size of the company and the nature of its business. (c) On the basis of our examination of records of inventory, we are of the opinion that the company has maintained proper records of inventory. The discrepancies noticed on physical verification of inventories as compared to book records were not material, having regard to the size or the operations of the Company and have been properly dealt within the books of account. 3. In respect of the loans , secured or unsecured , granted by the company to companies , firm or other parties covered in the register maintained under section 301 of the Companies act, 1956. a) The company has granted loans and advances to 7 Parties (Subsidiary , joint ventures & Others) . In respect of the said loan, the maximum amount outstanding at any time during the year is Rs. 8419.17 Lacs (Previous year Rs. 7615.28 lacs ) and year end balance of Rs. 8301.25 Lacs (previous year Rs 7615.28 Lacs). b) In our opinion and according to the information and explanations given to us, the aforesaid loan is interest free and other terms & conditions are not prima-facia prejudicial to the interest of the company. c) The said interest free loan given to subsidiary , joint ventures and others of the company is repayable on demand and there is no repayment schedule. d) In respect of loans and advances granted by the company, the same is repayable on demand and therefore the question of overdue amount does not arise . e) The company has not taken any loans, secured or unsecured from companies, firm or other parties covered in the register maintained under section 301 of the Companies Act, 1956.Therefore, provisions of clauses 4(iii)(f) and (g) of the Companies (Auditors Report) Order, 2003(as amended) are not applicable to the company. 4. In our opinion and according to the information and explanations given to us, having regard to the explanation that some of the items purchased/job work are of special nature and suitable alternative sources do not exist for obtaining comparable quotations, there are adequate internal control system commensurate with the size of the company and the nature of its business with regard to the purchase of inventories and fixed assets and with regard to the sale of goods and services . Further, on the basis of our examination and according to the information and explanations give to us, we have not observed any continuing failure/ major weaknesses in such internal control system. 5. (a) According to the information and explanations provided by the management, we are of the opinion that the particulars of Contracts or arrangements referred to in section 301 of the Act that need to be entered into the register maintained under section 301 have been so entered. (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangement exceeding value of Rupees five lacs have been entered into during the financial year at prices which reasonable having regard to the prevailing market prices at the relevant time. 6. According to the information and explanations given to us, the Company has not accepted any deposits from the Public. Therefore the provisions of clause (vi) of the Companies (Auditors report) order, 2003 are not applicable to the company. 7. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. 8. According to the information and explanation given to us, maintenance of cost records have not been prescribed by the central Govt, under section 209 (1) (d) of the Companies Act, 1956 to any product of the company . 9a) According to the information and explanations given to us and the books & records of the company examined by us, the company has been regular in depositing with appropriate authorities undisputed statutory dues including provident fund , investor education and protection fund , employees state insurance , income tax, sales tax/VAT, wealth tax, service tax, customs duty, excise duty, cess and other material statutory dues applicable to it. However in some cases TDS , PF and ESI dues have been deposited beyond the stipulated time limit. b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund , employees state insurance , income tax, sales tax/VAT, wealth tax, service tax, customs duty, excise duty, cess were in arrear, as at 31s1 March, 2010 for a period of more than 6 months from the date they became payable. c) According to the information and explanations given to us , the following are the details of the disputed statutory dues that were not deposited with the appropriate authorities . Nature of Nature of Forum where Demand Period to which the Statute Dues dispute is Amount the amount pending (Rs. in relates Lacs.) Central Sales Tax Commissioner 147.49* 1984-85,1985- Sales Tax (Appeals)/ Tribun 86 Act, 1956. al 1990-91 to and Sales 1991-92,1993- Tax/VAT 94, 1994-95, Act of 2005-2006 & various . 2006-2007. states High court 24.10 1986-87 & 2003-2004 Central Excise Duty Tribunal/Commi 179.35 1997-98, 2001 Excise ssioner(Appeal) to 2009-10 Act, 1944 17. According to the information and explanations given to us, and on an over all examinations of the Balance sheet of the company, we are of the opinion .that there are no funds raised on short term basis that have been used for long term investment. 18. The company has not made any preferential allotment of shares during the year to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956. 19. In our opinion and according to the information and explanations given to us, the company has not issued any secured debentures, paragraph 4 ( x ix) of the order is not applicable. 20. During the year the company has not raised any money by public issue. 21. Based upon the audit procedures performed and information and explanations given to us by the management, we report that no material fraud on or by the company has been noticed or reported during the course of our audit for the year ended March 31,2010. For M.C. BHANDARI & CO. CHARTERED ACCOUNTANTS Place: 38 Shopping Centre, Kota(Raj.) Dated: 27.05.10 ( S.K. MAHIPAL) PARTNER M.No.70366