Year : 2010-11 - CCL

__________________________________________________ CENTRAL COALFIELDS LIMITED
AUDITORS’ REPORT
MANAGEMENT’S REPLY
our opinion, leaves scope for improvement
in widening scope and coverage of audit
specially transaction audit to make it
commensurate with the size and operations
of the company, regular follow up actions
and disposal of internal audit comments by
the management.
8. As explained to us by the Management, the
Central Government has not prescribed
maintenance of Cost records under section
209(1)(d) of the Companies Act, 1956 for
the products of the Company.
all the subsidiary Companies.
No comments.
9(a)
9(b)
According to the information and
explanations given by the Company,
undisputed statutory dues including
Provident Fund, Income Tax, Sales Tax,
Wealth Tax, Service Tax, Customs Duty,
Excise Duty, Cess and other statutory dues
are generally deposited regularly and no
undisputed dues were outstanding as at
31st March, 2011 for a period of more than
six months from the date of becoming
payable, except service tax amounting to
3920.24 lacs in respect of different areas
for the period from 01.01.2005 to
31.12.2007. As informed to us Investor
Education and Protection Fund and
Employees’ State Insurance Act are not
applicable to the Company.
According to the information and
explanations given by the Company, there
is no disputed dues of Income Tax, Sales
Tax, Wealth Tax, Service Tax, Custom Duty,
Excise, Cess that have not been deposited
on account of matters pending before
appropriate authorities except the cases
which are stated in Appendix –1 to the
report.
No comments.
In the case of disputed dues of sales tax, royalty,
cess etc. advance payment is to be made to the
authority as a pre-requisite for appeal. The same
amount has been shown as Loans & Advances.
Contingent Liabilities for the total amount disputed
has been shown in the Notes on Accounts.
10. There is no accumulated loss of the
Company at the end of the financial year
and has not incurred any cash losses during
No comments.
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