EXCEL CROP CARE LIMITED C O N T E N T S - BSE

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EXCEL CROP CARE LIMITED Annexure referred to in paragraph 3 of our report of even date Re: Excel Crop Care Limited (‘the Company’) (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) Fixed assets have been physically verified by the management under a phased 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 were noticed on such verification. (c) There was no substantial disposal of fixed assets during the year. (ii) (a) The management has conducted physical verification of inventory at reasonable intervals during the year. (b) 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) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification. (iii) According to the information and 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 Act. Accordingly, the provisions of clause 4(iii)(a) to (d) of the Order are not applicable to the Company and hence not commented upon. According to information and explanations given to us, the Company has not taken any loans, secured or unsecured, from companies, firms or other parties covered in the register maintained under section 301 of the Act. Accordingly, the provisions of clause 4(iii)(e) to (g) of the Order are not applicable to the Company and hence not commented upon. (iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business, for the 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 in respect of these areas. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the Company in respect of these areas. (v) (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 arrangements and exceeding the value of Rupees five lakhs have been entered into during the financial year at prices which are reasonable having regard to the prevailing market prices at the relevant time. (vi) In respect of deposits accepted, in our opinion and according to the information and explanations given to us, directives issued by the Reserve Bank of India and the provisions of sections 58A, 58AA or any other relevant provisions of the Act, and the rules framed there under, to the extent applicable, have been complied with. We are informed by the management that no order has been passed by the Company Law Board, National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal. (vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business. (viii) We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(1)(d) of the Act related to the manufacture of insecticides and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. (ix) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education and protection fund, employees’ state insurance, income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty, cess and other material statutory dues applicable to it. Further, since the Central Government has till date not prescribed the amount of cess payable under section 441A of the Act we are not in a position to comment upon the regularity or otherwise of the Company in depositing the same. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, investor education and protection fund, employees’ state insurance, income-tax, wealth-tax, service tax, sales-tax, customs duty, excise duty, cess and other material statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable. (c) According to the records of the Company, there are no dues outstanding on account of any dispute of income-tax, sales-tax, wealthtax, service tax, customs duty, excise duty and cess on account of any dispute, except as follows: 32
Name of the statute Nature of dues Amount Period to which Forum where dispute is pending (`. in lacs) amount pertains Income tax Act, 1961 Income-tax Demands 0.01 Assessment Year 2004–2005 Chief Commissioner of Income Tax, Mumbai Income tax Act, 1961 Income-tax Demands 1.42 Assessment Year 2007–2008 Income Tax Appellate Tribunal, Mumbai Central Excise Act, 1944 Excise Duty Demands 1.63 2007 Deputy Commissioner of Excise, Gajod Central Excise Act, 1944 Excise Duty 2.77 1994 Deputy Commissioner of Excise, Demands Bhavnagar Service Tax Rules Service-tax Demands 32.68 2005–2006 Assistant Commissioner, Service Tax, Bhavnagar Service Tax Rules Service-tax Demands 1.77 2005–2006 Assistant Mumbai Commissioner Service Tax, Service Tax Rules Service-tax Demands 1.60 2008–2009 Deputy Commissioner Service Tax, Rajkot Central Sales Tax Act, 1956 Sales-tax Demands 7.58 April 2008– June 2009 Commercial Tax Tribunal, Lucknow Gujarat VAT Act, 2003 VAT Liability 52.95 2006–07 Joint Commissioner of Commercial Tax – Gujarat Haryana VAT Act, 2003 VAT Liability 8.85 2007–08 Joint Excise and Taxation Commissioner (Appeals), Rohtak (x) The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year. (xi) Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders. (xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted 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 Order 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 Order are not applicable to the Company. (xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions. (xvi) Based on information and explanations given to us by the management, term loans were applied for the purpose for which the loans were obtained. (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) The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under section 301 of the Act. (xix) The Company did not have any outstanding debentures during the year. (xx) The Company has not raised any money through public issue during the year. (xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the year. For S. R. BATLIBOI & CO. Firm registration number: 301003E Chartered Accountants per Vijay Maniar Partner Membership No.: 36738 Place: Mumbai Date: 25 May 2011 33
Page 1 and 2: EXCEL CROP CARE LIMITED C O N T E N
Page 3 and 4: NOTICE EXCEL CROP CARE LIMITED NOTI
Page 5 and 6: ANNEXURE TO THE NOTICE EXCEL CROP C
Page 7 and 8: The country received good rainfall
Page 9 and 10: 13. SUBSIDIARIES Excel Crop Care (A
Page 11 and 12: ANNEXURE TO DIRECTORS’ REPORT EXC
Page 13 and 14: (d) Improvement in quality, raw mat
Page 15 and 16: Pesticides consumption in India is
Page 17 and 18: in the proper, safe and judicious u
Page 19 and 20: NAME CATEGORY NO. OF BOARD MEETINGS
Page 21 and 22: 4. Shareholding of Non-Executive Di
Page 23 and 24: Director Sitting fees for Board/ Co
Page 25 and 26: The Bombay Stock Exchange Limited (
Page 27 and 28: The Company has initiated steps to
Page 29 and 30: I. CAPITAL ACCOUNTS EXCEL CROP CARE
Page 31: AUDITORS’ REPORT EXCEL CROP CARE
Page 35 and 36: EXCEL CROP CARE LIMITED 35 Schedule
Page 37 and 38: EXCEL CROP CARE LIMITED CASH FLOW S
Page 39 and 40: SCHEDULE ‘E’ FIXED ASSETS Sr. D
Page 41 and 42: EXCEL CROP CARE LIMITED SCHEDULES F
Page 45 and 46: EXCEL CROP CARE LIMITED SCHEDULE FO
Page 47 and 48: SCHEDULE ‘T’ — (Cont’d.) NO
Page 67 and 68: AUDITORS’ REPORT EXCEL CROP CARE
Page 69 and 70: EXCEL CROP CARE LIMITED CONSOLIDATE
Page 71 and 72: EXCEL CROP CARE LIMITED CONSOLIDATE
Page 75 and 76: SCHEDULE ‘I’ EXCEL CROP CARE LI
Page 79 and 80: SCHEDULE ‘S’ (INCREASE)/DECREAS
Page 81 and 82: EXCEL CROP CARE LIMITED SCHEDULE FO
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EXCEL CROP CARE LIMITED SCHEDULE FO
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SCHEDULE 'U' (Contd.) NOTES TO CONS
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TEAR HERE EXCEL CROP CARE LIMITED R
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ANNUAL REPORT 2009-10 Gujarat Narma
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