Moneycontrol Be a Pro
Get App
SENSEX NIFTY
Syschem India | Auditor's Report > Pesticides & Agro Chemicals > Auditor's Report from Syschem India - BSE: 531173, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > PESTICIDES & AGRO CHEMICALS > AUDITORS REPORT - Syschem India

Syschem India

BSE: 531173|ISIN: INE121D01036|SECTOR: Pesticides & Agro Chemicals
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Oct 11, 16:00
7.00
0
VOLUME 101
Syschem India is not listed on NSE
Mar 13
Auditor's Report (Syschem India) Year End : Mar '14
We have audited the accompanying financial statements of Syschem
 (India) Limited (the Company), which comprise the Balance Sheet as at
 March 31, 2014, 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
 the Accounting Standards referred to in sub-section (3C) of section 211
 of the Companies Act, 1956 (the Act) read with the General Circular
 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs
 in respect of Section 133 of the Companies Act, 2013 and in accordance
 with the accounting principles generally accepted in India.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.
 
 Auditor''s 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 audit procedures that are
 appropriate in the circumstances. An audit also includes evaluating the
 appropriateness of accounting policies used and the reasonableness of
 the accounting estimates made by 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 forouraudit 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:
 
 (a) In the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31,2014;
 
 (b) In the case of the Profit and Loss Account, of the profit for the
 year ended on that date; and
 
 (c) In the case of the 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 (Auditor''s 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'', a statement on the matters specified in paragraphs 4 and 5 of the
 Order.
 
 2.  As required by section 227(3) of the Act, we reportthat:
 
 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 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, 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 subsection (3C) of section 211 of the Companies Act, 1956 read
 with the General Circular 15/2013 dated 13th September, 2013 of the
 Ministry of Corporate Affairs in respect of Section
 133 of the Companies Act,2013;
 
 e.  On the basis of written representations received from the directors
 as on March 31,2014, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31,2014, from being
 appointed as a director in terms of clause (g) of sub-section (1) of
 section 274 of the Companies Act, 1956.
 
 ANNEXURE ''A'' TO THE INDEPENDENT AUDITOR''S REPORT
 
 [Referred to in paragraph 1 under the heading of Report on Other Legal
 and Regulatory Requirements of our Report of even date of Syschem
 (India) Limited and subject to notes on accounts]
 
 (i) (a) In our opinion, the Company has maintained proper records
 showing full particulars, including quantitative details and situation
 of fixed assets.
 
 (b) As explained to us, all fixed assets have been physically verified
 by the management at reasonable intervals and no material discrepancies
 have been noticed on such verification.
 
 (c) In our opinion and according to the explanations given to us,
 during the year the Company has not disposed off any substantial part
 of its fixed assets and hence the going concern of the Company is
 notaffected.
 
 (ii) (a) As explained to us, physical verification of inventory has
 been conducted by the management at reasonable intervals.
 
 (b) In our opinion, the procedures of physical verification of
 inventory followed by the management are reasonable and adequate in
 relation to the size of the Company and nature of its business.
 
 (c) As explained to us no material discrepancies have been noticed on
 physical verification.  The balances of stock as established on
 physical verification as at the year end have been incorporated in the
 books of accounts. Consequently, the shortage/excess, if any, have been
 adjusted in consumption of material.
 
 (iii) (a) In our opinion and according to explanations given to us, the
 Company has not granted any loans secured or unsecured to companies,
 firms or other parties covered in the register maintained under Section
 301 of the Companies Act, 1956.
 
 (b) The Company has not granted loans secured or unsecured to
 companies, firms or other parties covered in the register maintained
 under Section 301 of the Companies Act, 1956 and as such Clauses
 (iii)(b), iii(c) and iii(d) of the Order are not applicable to the
 Company.
 
 (c) In our opinion and according to the explanations given to us, the
 Company has not taken any secured or unsecured loans from companies,
 firms or other parties covered in the register maintained under Section
 301 of the Companies Act, 1956
 
 (d) The Company has not taken any secured or unsecured loans from
 companies, firms or other parties covered in the register maintained
 under Section 301 of the Companies Act, 1956 and such 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 explanations
 given to us, there are adequate internal control systems commensurate
 with the size of the Company and nature of its business for purchase of
 inventory and fixed assets and for the sale of goods. During the course
 of our audit, no majorweakness has been noticed in the internal control
 system.
 
 (v) (a) In our opinion and according to the information and
 explanations given to us, there were transactions made in pursuance of
 contracts or arrangements that needed to be entered into the register
 maintained under Section 301 of the Companies Act, 1956 and these were
 property entered.
 
 (b) In our opinion and according to the information and explanations
 given to us, the transactions made during the year in pursuance of
 contracts or arrangements which were required to be entered in the
 register maintained under Section 301 of the Companies Act, 1956 and
 exceeding the value of the Five Lac rupees in respect of any party have
 been made at prices which were reasonable having regard to prevailing
 market prices at the relevant time.
 
 (vi) In our opinion and according to the information given to us, the
 Company has accepted deposits from the public within the meaning of
 Sections 58A, 58AAor any other provisions of the Companies Act, 1956
 the rules framed thereunder.
 
 (vii) In our opinion, the Company has an adequate internal audit system
 commensurate with the size of the Company and the nature of it
 business.
 
 (viii) We have broadly reviewed the cost records maintained by the
 company pursuant to the Companies (Cost Accounting Records) Rules, 2011
 prescribed by the Central Government under section 209(1 )(d) of the
 Companies Act, 1956 and are of the opinion that prima facie the
 prescribed cost records have been maintained. We have, however, not
 made a detailed examination of the cost records with a view to
 determine whether they are accurate or complete.
 
 (ix) (a) According to the records of the Company, except TDS, Service
 Tax, Central Sales Tax and Provident Fund, the Company is regular in
 depositing with appropriate authorities, undisputed statutory dues
 applicable to it.
 
 (b) According to the records of the Company, there are no dues of
 Income Tax, Sales Tax, Service Tax, Wealth Tax, Custom Duty, Excise
 Duty, Education Cess and Provident Fund which have not been deposited
 on account of any dispute except the following
 
                                        for BANSAL VIJAY & ASSOCIATES
                                        CHARTERED ACCOUNTANTS
                                        (Firm Registration No. 014930N)
 
 Date : 30.05.2014                      (CA VIJ AY KUMAR)
 PLACE: CHANDIGARH                       PARTNER
                                         M. No.093412
 
 
Source : Dion Global Solutions Limited
Quick Links for syschemindia
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.