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Signet Industries Ltd.

BSE: 512131 | NSE: SIGIND |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE529F01035 | SECTOR: Finance - Investments

BSE Live

Nov 30, 12:20
37.50 -1.05 (-2.72%)
Volume
AVERAGE VOLUME
5-Day
9,241
10-Day
8,187
30-Day
6,170
6,842
  • Prev. Close

    38.55

  • Open Price

    39.15

  • Bid Price (Qty.)

    37.55 (2)

  • Offer Price (Qty.)

    37.70 (50)

NSE Live

Nov 30, 12:20
37.60 -0.80 (-2.08%)
Volume
AVERAGE VOLUME
5-Day
18,090
10-Day
18,807
30-Day
18,455
12,481
  • Prev. Close

    38.40

  • Open Price

    39.65

  • Bid Price (Qty.)

    37.35 (8)

  • Offer Price (Qty.)

    37.60 (25)

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 SIGNET OVERSEAS LIMITED as at 31st March, 2009 and also the Profit & Loss account and the Cash Flow Statement 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. 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 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. 3. As required by the Companies (Auditors Report) Order 2003 (as amended), 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 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 account 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 branches not visited by us; c) The Balance Sheet, Profit & 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 & Loss Account and Cash Flow Statement dealt with by this report are prepared in compliance with the Accounting standards referred to in Section 211 (3C) of the Companies Act, 1956; e) On the basis of written representations received from the directors, as on 31st March, 2009 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2009 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, said accounts read 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 accounting principles generally accepted in India; i. In the case of the Balance Sheet of the state of affairs of the Company as at 31s March, 2009; ii. In the case of Profit & 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. ANNEXTURE AUDITORS REPORT Referred to in paragraph 3 of our report of even date. i. In respect of its Fixed Assets: a. The Company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets. b. As per the information given to us the fixed assets have been physically verified by the management during the year and there is a regular programme of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of its fixed assets. No material discrepancies were noticed on such verification. c. During the year, the Company has not disposed off a substantial part of fixed assets and we are of the opinion that the going concern status of the company is not affected. ii. In respect of Inventories: a. The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. b. The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. c. The Company is maintaining proper records of inventory. As explained to us there were no discrepancies noticed on physical verification of inventory as compared to the book records. iii. a. According to the information and explanations given to us, the Company has not granted loans secured or unsecured to companies, firms or other parties covered in the register maintained U/s 301 of the Companies Act, 1956. Hence the provisions of clauses iii(b), iii(c) and iii(d) of the Order are not applicable to the company. b. According to the information and explanations given to us, the Company has not taken any loan secured or, unsecured from companies, firms or other parties covered in the register maintained U/s 301 of the Companies Act, 1956. Hence the provisions of clauses iii(f) and iii(g) of the Order are not applicable to the company. iv. In our opinion and according to the information and explanation given to us, there are adequate internal control systems commensurate with the size of the Company and the nature of its business with regard to purchases of, inventory, fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any! major weakness in internal control system in respect of these areas. v. In respect of transactions covered U/s 301 of the Companies Act, 1956. a. According to the information and explanations given to us, we are of the opinion that the company has no contract or arrangements that need to be entered into the register maintained U/s 301of the Companies Act, 1956. b. In our opinion provisions of clause v(b) of the Order are not applicable to the company. vi. According to the information and explanations given to us, the Company has not accepted any deposits from public to which the provisions of section 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 apply. vii. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. viii.As per information and explanations given to us Central Government has not prescribed maintenance of cost records under section 209 (l)(d) of the Companies Act, 1956 for the product of the Company, hence provisions of clause 4 (viii) of the order are not applicable to the Company. ix. a) The Company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employees state insurance, income tax, sales tax, service tax, wealth tax, custom duty, excise duty, cess and other material statutory dues applicable to it. There were no undisputed statutory dues in arrears, as at 31st March, 2009 for a period of more than six months from the date they became payable. b) According to the information and explanation given to us, the particulars of dues of sales tax, income tax, custom duty, wealth tax, excise duty and cess which have not been deposited with appropriate authorities on account of any dispute are as under: Name of the Nature of Period to Forum where Amount Statute Liability which the dispute is (in Rs.) amt. Relates pending Income Tax Income Tax 2000-01 CIT Appeal 137002 Act, 1961. Sales Tax Commercial Tax 2005-06 Dy. CommTax 5128546 Commercial (Appeal) Customs Excise Duty 2007-08 Commisioner (Appeal) 1575198 Central Excise x. In our opinion, the Company has no accumulated losses as at 31st March 2009 and it has not incurred any cash losses during the financial year covered by our audit and the immediately preceding financial year. xi. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to a Financial Institution or Bank. The Company has not issued any debenture. xii. 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. xiii. In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4 (xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company. xiv. In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4 (xiv) of the Companies (Auditor Report) Order, 2003 are not applicable to the Company. xv. According to the information and explanations given to us, and the representations made by the management, the Company has not given any guarantee for loans taken by others from any Bank or financial institution. xvi. According to the information and explanations given to us, the term loan has been applied for the purpose it was raised. 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. xviii. According to the information and explanations given to us the, Company has not made preferential allotment of shares to parties or Companies covered in the register maintained under section 301 of the Act. xix. According to the information and explanations given to us, during the period covered by our audit report, the Company has not issued any debentures. xx. The Company has not raised money by public issues during the year under audit. xxi. During the course of our examination of the books of account 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 not come across any instance of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management. For : ASHOK KHASGIWALA & CO. Chartered Accountants Place : Indore CA Avmash Baxi Dated : 04.09.2009 (Partner) M. No. 79722