2010-11 - Grasim

HARISH CEMENT LIMITED
ANNEXURE TO THE AUDI
UDITOR
OR’S REPORT
(Ref
efer
erred red to in paragraph 1 of our report of even en date)
(i)
(ii)
Having regard to the nature of the Company’s
business/ activities/ results clauses (ii) regarding
inventory, (vii) internal audit system, (viii)
maintenance of cost records, (ix) regarding
undisputed statutory dues, (x) regarding cash loss
incurred by the Company, (xi) regarding default in
repayment, (xii) regarding loans and advances given
by way of pledge, (xiii) regarding chit fund, nidhi /
mutual benefit fund / societies, (xiv) regarding
dealing or trading in shares, securities, debentures
and other investments, (xv) regarding guarantee
given for loans taken, (xvi) regarding term loans
applied for the purpose for which it was obtained,
(xvii) regarding use of short term fund used for
long term purpose, (xviii) regarding preferential
allotment to parties covered in register maintained
under section 301 and (xix) securities and charge
created in respect of debentures of CARO are not
applicable.
In respect of its fixed assets:
(a)
(b)
(c)
The Company has maintained proper records
showing full particulars, including quantitative
details and situation of fixed assets.
Some of the fixed assets were physically
verified during the year by the Management
in accordance with a programme of
verification, which in our opinion, provides for
physical verification of all the fixed assets at
reasonable intervals. According to the
information and explanations given to us, no
material discrepancies were noticed on such
verification.
The fixed assets disposed off during the year,
in our opinion, do not constitute a substantial
part of the fixed assets of the Company and
such disposal has, in our opinion, not affected
the going concern status of the Company.
(iii) According to the information and explanations
given to us, the Company has neither granted nor
taken any loans secured or unsecured loans to/
from companies, firms or other parties listed in
the Register maintained under Section 301 of the
Companies Act, 1956.
(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
with regard to the purchases of inventory and fixed
assets and the sale of goods and services. During
the course of our audit, we have not observed
any major weaknesses in such internal control
system.
(v)
To the best of our knowledge and belief and
according to the information and explanations given
to us, there were no contracts or arrangements,
particulars of which needed to be entered in the
Register maintained under Section 301 of the
Companies Act, 1956.
(vi) According to the information and explanations
given to us, the Company has not accepted any
deposit from the public in terms of the provisions
of Sections 58A and 58AA or any other relevant
provisions of the Companies Act, 1956.
(vii) During the year, the Company has not raised
money by issue of shares to public.
(viii) During the course of our examination of the books
and records of the company, carried out in
accordance with the generally accepted auditing
practices in India, and according to the information
and explanation given to us, we have neither
come across any instance of fraud on or by the
company, noticed or reported during the year nor
have we been informed of such case by the
management.
For G.P. . KAPADIA ADIA & CO.
Chartered Accountants
(Registration NO.104768W)
Atul B. Desai
Partner
Membership No. 30850
Mumbai, 18 th April 2011
104