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Rajasthan Petro Synthetics Ltd.

BSE: 506975 | NSE: RAJASPETRO | Series: NA | ISIN: INE374C01017 | SECTOR: Textiles - Manmade

BSE Live

Mar 02, 16:00
6.20 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
100
10-Day
110
30-Day
2,593
100
  • Prev. Close

    6.20

  • Open Price

    6.20

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    6.19 (1100)

Rajasthan Petro Synthetics is not traded on BSE in the last 30 days

NSE Live

Dec 27, 11:22
2.00 -1.00 (-33.33%)
Volume
No Data Available
5,885
  • Prev. Close

    3.00

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Rajasthan Petro Synthetics is not listed on NSE

Annual Report

For Year :
2015 2013 2012 2011

Auditor's Report

Report on the Financial Statements '' We have audited the accompanying financial statements of RAJASTHAN PETRO SYNTHETICS LTD. (the Company), which comprise the Balance Sheet as at 31 March, 2013, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information. 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 accounting standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 (the Act). 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. Auditors'' 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 the audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and reasonableness of the accounting estimates made by the 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 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: (i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31 March, 2013; (ii) in the case of the Statement of Profit and Loss, of the Profit for the year ended on that date; and (iii) in the case of 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 (Auditors'' Report) Order, 2003, (the Order) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we give in the Annexure a statement on the matters specified in . paragraphs 4 and 5 of the Order, to the extent applicable to the Company. 2: As required by section 227(3) of the Act, we report that: i- 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 the 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, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement 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 as on 31 March, 2013 and taken on record by the Board of Directors, none of the directors is disqualified as on 31* March, 2013 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956; Referred to in paragraph 3 of our report of even date on the accounts of the Company for the year ended 31 March 2013. 1 (a) The Company has now Office equipments as fixed assets at the close of year, the fixed Asset Register of which is being prepared. (b) The Company has physically verified the Office equipments during the year which in our opinion is reasonable having regard to size of the company and the nature of the assets. (c ) The Company has not disposed off major fixed assets during the year. 2. The Company does not have any Inventory therefore this clause is not applicable. 3 The Company has neither granted nor taken any loans, secured or unsecured to/from Companies, firm or other parties covered in the register maintained under section 301 of the Companies Act, 1956. 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 fixed assets and with regard to income from Billing Agency for C&F operations. 5. The Company has not entered in to any transactions with any Company covered in the register maintained under section 301 of the Companies Act, 1956, and accordingly clause (v) of Para-4 of the Order is not applicable to it. 6. The company has not accepted and deposits from the public within the meaning of Section 58A and 58AA of the Act and the rules framed there under. 7. A firm of Chartered Accountants has conducted the internal audit of the Company for the year under audit. On the basis of the reports submitted by the internal auditors to the management, in our opinion the internal audit is system commensurate with the size of the Company and nature of its business. 8 The Central Government has not prescribed maintenance of cost records for the type of services in which the Company is engaged. 9. According to the information and explanation given to us in respect of statutory and other dues. (a) During the year no deduction were made towards Provident Fund and Employee''s State Insurance. The Company was regular in depositing with appropriate authorities Income Tax, and other statutory dues deducted by it during the year. Undisputed Statutory dues amounting to Rs. 1.48 Lacs in respect of Provident Fund, Rs. 21.39 Lacs in respect of ESI, Rs. 8.59 Lacs in respect of Sales Tax, Rs. 0.10 Lacs in respect of Cenvat payable, Rs. 4.87 Lacs in respect of Textile Committee cess and Rs. 0.13 Lacs in respect of TDS were outstanding as at 31*'' March, 2013 for the period of more than 6 month from the date they became payable. (b) According to the records of the Company, the dues of customs, service tax, excise duty, income tax, which have not been deposited on account of disputes and the forum where the dispute are pending, are as under: SI. Status Nature of Taxes Amount Involved Forum where dispute is Pending No (Rs. In Lacs) 1. Central Excise Act, 1944 Excise Duty 169.23 Supreme Court 2. Central Excise Act, 1944 Excise Duty 4.67 C.E.S.T. Delhi 3 Central Excise Act, 1944 Excise Duty 3.23 Dy. Commissioner of Excise(Appeals) Jaipur 4 Sales Tax Department Sales Tax 63.46 Rajasthan Tax Board 5 Central Excise Act, 1944 Excise Duty 2.33 Central Excise & Gold Appellate Tribunal 6 Central Excise Act, 1944 Service Tax 1.11 Asst. Commissioner of Central Excise & Customs. 7 Income Tax Act, 1961 Income Tax (For AY 08-09) 1584.66 ITAT Delhi 10. There are accumulated losses of Rs. 3,119.83 lacs as on 31 ** March 2013 which is more than 50% its net worth. The company has not Incurred cash losses in the current year and in the immediately preceding year. 11. There are no loans from any Financial Institution or banks. Hence, clause (xi) of paragraph 4 of the order is not applicable. 12. According to the information and explanation given to us, the company has not granted loans and advances on the basis of the security by way of pledge of shares, debenture and other securities, hence, clause (xii) of order is not applicable. 13. Clause (xiii) of the Order is not applicable to the Company as the company is not a Chit Fund Company or Nidhi/ mutual benefit fund/ society. 14. In our opinion, the Company is not dealing in or trading in shares, securities, debenture, another investments. Accordingly, the provisions of clauses 4 (xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. However, all investments have been held by it in its own name or nominees. 15. According to the information and explanations given to us, Company has not given any guarantees for loans taken by others from bank or financial institutions. 16. According to the information and explanations given to us, no term loans were raised during the years. 17. According to the information and explanation 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. 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. During the year covered by our audit report the Company has not issued secured debentures. 20. The Company has not raised any money by public issue during the year covered by our report. 21. Based upon the audit procedures performed and as per the information and explanation given to us, no fraud on or by the Company has been noticed or reported during the year. For M B R & Co. Chartered Accountants Place: New Delhi Date : 30th May, 2013 (CA. MUKESH SHARMA) Partner M. No. 511275 ICAI''S FRN 021360N