2009-10 Annual Report - SPML

SPML INFRA LIMITED(xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not grantedloans 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 arenot applicable.(xiv) In our opinion, the Company is not dealing or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause4(xiv) of the Order are not applicable.(xv) According to the information and explanations given to us, the Company has given guarantee for loans taken by others from bank or financialinstitutions, the terms and conditions whereof in our opinion are not prima-facie prejudicial to the interest of the Company.(xvi) Based on the information and explanations given to us by the management, term loans were applied for the purpose for which these wereobtained.(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 nofunds raised on short-term basis have been used for long-term investment.(xviii) The Company has not made any preferential allotment of shares during the year to parties or companies covered in the register maintained undersection 301 of the Companies Act, 1956.(xix) The Company did not have any outstanding debentures during the year.(xx) The Company has not raised any money by 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 theinformation and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during thecourse of our audit.For S.R. BATLIBOI & CO.Firm Registration No.: 301003EChartered AccountantsFor SUNIL KUMAR GUPTA & CO.Firm Registration No.: 003645NChartered AccountantsPer R.K.AgrawalS. K. GuptaPartnerPartnerMembership No.: 16667 Membership No.: 82486Place: KolkataPlace: KolkataDate: May 29, 2010 Date: May 29, 201030