annual report 2010-2011 - Mahagenco

Annual Report 2010-2011
12. According to the information and explanations given 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.
13. In our opinion, and to the best of our information and according to the explanations given to us, we are
of the opinion that the Company is neither a chit fund nor a nidhi / mutual benefit fund / society. Hence,
in our opinion, the provisions of clause (xiii) of paragraph 4 of the aforesaid order are not applicable to
the Company.
14. As per the records of the Company and the information and explanations given to us, the company is not
dealing or trading in shares, securities, debentures and other investments. Accordingly, the provisions of
clause (xiv) of paragraph 4 of the aforesaid order are not applicable to the company.
15. According to the records of the Company and the information and explanations given to us, the Company
has not given any guarantee for loans taken by others from banks and / or financial institutions.
16. In our opinion and according to the information and explanations given to us, on an overall basis, the term
loans availed during the year have been applied for the purposes for which they were obtained by the
Company.
17. According to 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.
18. During the financial year, the Company has not made any preferential allotment of shares to parties and
companies covered in the Register maintained under Section 301 of the Act.
19. The Company has not issued any Debentures therefore this clause is not applicable
20. The Company has not raised any money by public issue during the period under audit. Accordingly the
provisions of clause (xx) of paragraph 4 of the aforesaid order are not applicable to the company.
21. During the course of our examination of the books of account carried out in accordance with generally
accepted auditing practices, we have not noticed any fraud or by the Company including cases under
Vigilance Maharashtra Cell of the Company/Inquiries State Power from The Comptroller Generation and Auditor Co. General Ltd. of India’s office
during the financial year.
CVK & Associates, K. S. Aiyar & Co. G. M. Kapadia & Co.
Chartered Accountants Chartered Accountants Chartered Accountants
FRN:101745W FRN:100186W FRN:104767W
Ashok K.Pradhan Rajesh S. Joshi Rajen R.Ashar
Partner partner partner
M. No.: 32156 M. No.: 38526 M. No.: 48243
Place: Mumbai
Date: 16th September, 2011
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