Oriental Remedies & Herbals Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2012

1 We have audited the attached Balance Sheet of ORIENTAL REMEDIES AND HERBALS LIMITED, as at 31st March 2012, and also the Profit and Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the company''s management. Our responsibility is to express an opinion in these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as-evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central '' Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, we report that:

(i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit;

(ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books;

(iii) The Balance Sheet, the Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(iv) In our opinion, The Balance Sheet, the Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

(v) On the basis of written representations received from directors, as on 31st march 2012, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March 2012, from being appointed as a director in terms of clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956;

(vi) In our opinion and to the best of our information and according to the explanations given to us, they said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

(a) in the case of the Balance Sheet, of the state of affairs of the company as at 31 st March 2012; and

(b) in the case of the Profit and Loss Account, of the loss for the year ended on that date;

(c) in case of Cash Flow Statement of the cash flow for the period ended on that date.

Referred to in paragraph 3 of our report of even date,

1. The company does not have any fixed assets during the year hence clause (i) of the aforesaid order is not applicable.

2. The company does not have any inventories during the year hence clause (ii) of the aforesaid order is not applicable.

3. According to the information and explanations given to us, the company has not granted any loans, secured and unsecured to companies, firms and other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

4. According to the information and explanations given to us, the Company has-not taken any loans, secured and unsecured from companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

5. Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that there are no such transactions that need to be entered into the register maintained under section 301.

6. The company has not accepted any deposit from public within the meaning of section 58A of the Companies Act, 1956 during the year undei review.

7 According to the information and explanations given to us, the company does not have a formal internal audit system.

8. The Central Government of India has not prescribed the maintenance of cost records by the Company under Section 209(1 )(d) of the Act for any of its products.

9. According to the records of the company, the company is regular in depositing undisputed statutory dues including provident fund, investor education protection fund, employees'' state insurance, income-tax, sales-tax, wealth-tax, custom duty, excise-duty, cess and other statutory dues applicable to it with appropriate authorities. Bassoon the audit procedures applied by us and according to the information and explanations by the management, there are no arrears of statutory dues which have remained outstanding at the yearend for a period of more than six months from the date they became payable.

10 According to the records of the company, there are no dues of sales tax, income tax, customs tax/wealth-tax. Excise duty/cess which has not been deposited on account of any dispute.

11. The company has accumulated losses of Rs. 1,78,71,426/- (Pr. Year Rs. 1,78,07,638/-) at the end of the year. The company has incurred cash losses during the financial year covered under audit. The company also incurred cash losses during the immediately preceding financial year.

12. Based on our audit procedures and on the basis of 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, banks or debenture holders.

13. The company has not given any guarantee for loans taken by others from bank or financial institutions.

14. In our opinion and according to the information and explanations given to us, there are adequate internal control systems 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 controls.

15. In our opinion, the company is not a chit fund or a nidhi/mutual benefit fund / society. Hence the clause 4 (xiii) of the CARO, 2003 are not applicable to the company.

16. The Company has not granted loans or advances on the basis of security by way of pledge of shares, debentures and other securities.

17. The company has maintained proper records of the transactions and contracts in respect of investment dealings. The shares & securities, debentures and other securities have been held by the company in its own name.

18. The Company has not taken any term loan during the year.

19. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained u/s 301 of the Act during the year.

20. On the basis of review of utilization of funds on overall basis, related information as made available to us and as represented to us by the management, funds raised on short term basis have not been used for long term and vice-versa during the

21. The company has not issued any debentures during the year and there on the question of creating security in respect thereof does not arise.

22. The company has not made any public issue of any securities during the year and therefore the question of disclosing the end use of money does not arise.

23. During the course of our examination of the books of account carried out in accordance with the generally accepted auditing practices in India, we have neither come across any instance of fraud on or by the Company, either noticed or reported during the year, nor have we been informed of such case by the management

By Order of the Board

For ORIENTAL REMEDIES & HERBALS LTD



Director

Place: KOLKATA

Dated: 01/09/2012

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Mar 31, 2011

1. We have audited the attached Balance Sheet of ORIENTAL REMEDIES AND HERBALS LIMITED, as at 31st March 2011, and also the Profit and Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, we report that:

(i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit;

(ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books;

(iii) The Balance Sheet, the Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(iv) In our opinion, The Balance Sheet, the Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

(v) On the basis of written representations received from directors, as on 31st march 2011, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March 2011, from being appointed as a director in terms of clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956;

(vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

(a) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March 2011; and

(b) in the case of the Profit and Loss Account, of the loss for the year ended on that date;

(c) in case of Cash Flow Statement of the cash flow for the period ended on that date.

1. The company does not have any fixed assets during the year hence clause (i) of the aforesaid order is not applicable.

2. The company does not have any inventories during the year hence clause (ii) of the aforesaid order is not applicable.

3. According to the information and explanations given to us, the company has not granted any loans, secured and unsecured to companies, firms and other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

4. According to the information and explanations given to us, the Company has not taken any loans, secured and unsecured from companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

5. Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that there are no such transactions that need to be entered into the register maintained under section 301.

6. The company has not accepted any deposit from public within the meaning of section 58A of the Companies Act,1956 during the year under review.

7. According to the information and explanations given to us, the company does not have a formal internal audit system.

8. The Central Government of India has not prescribed the maintenance of cost records by the Company under Section 209(1)(d) of the Act for any of its products.

9. According to the records of the company, the company is regular in depositing undisputed statutory dues including provident fund, investor education protection fund, employees'' state insurance, income-tax, sales-tax, wealth-tax, custom duty, excise-duty, cess and other statutory dues applicable to it with appropriate authorities. Based on the audit procedures applied by us and according to the information and explanations provided by the management, there are no arrears of statutory dues which have remained outstanding at the yearend for a period of more than six months from the date they became payable.

10. According to the records of the company, there are no dues of sales tax, income tax, customs tax/wealth-tax. Excise duty/cess which has not been deposited on account of any dispute.

11. The company has accumulated losses of Rs. 1,78,07,638/- (Pr. Year Rs. 1,77,17,721/-) at the end of the year. The company has incurred cash losses during the financial year covered under audit. The company also incurred cash losses during the immediately preceding financial year.

12. Based on our audit procedures and on the basis of 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, banks or debenture holders.

13. The company has not given any guarantee for loans taken by others from bank or financial institutions.

14. In our opinion and according to the information and explanations given to us, there are adequate internal control systems 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 controls.

15. In our opinion, the company is not a chit fund or a nidhi/mutual benefit fund / society. Hence the clause 4 (xiii) of the CARO, 2003 are not applicable to the company.

16. The Company has not granted loans or advances on the basis of security by way of pledge of shares, debentures and other securities.

17. The company has maintained proper records of the transactions and contracts in respect of investment dealings. The shares & securities, debentures and other securities have been held by the company in its own name.

18. The Company has not taken any term loan during the year.

19. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained u/s 301 of the Act during the year.

20. On the basis of review of utilization of funds on overall basis, related information as made available to us and as represented to us by the management, funds raised on short term basis have not been used for long term and vice-versa during the year.

21. The company has not issued any debentures during the year and therefore the question of creating security in respect thereof does not arise.

22. The company has not made any public issue of any securities during the year and therefore the question of disclosing the end use of money does not arise.

23. During the course of our examination of the books of account carried out in accordance with the generally accepted auditing practices in India, we have neither come across any instance of fraud on or by the Company, either noticed or reported during the year, nor have we been informed of such case by the management

For

H. K. Saha & Co

Chartered Accountants

Swapan Kumar Saha

Proprietor

(M. No : 51336)

Firm Registration No. 301055E

Place of Signature: Kolkata

Date : 01.09.2011

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of ORIENTAL REMEDIES AND HERBALS LIMITED, as at 31st March 2010, and also the Profit and Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, we report that:

(i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit;

(ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books;

(iii) The Balance Sheet, the Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(iv) In our opinion, The Balance Sheet, the Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

(v) On the basis of written representations received from directors, as on 31st march 2010, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March 2010, from being appointed as a director in terms of clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956;

(vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

(a) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March 2010; and

(b) in the case of the Profit and Loss Account, of the loss for the year ended on that date;

(c) in case of Cash Flow Statement of the cash flow for the period ended on that date.

1. The company does not have any fixed assets during the year hence clause (i) of the aforesaid order is not applicable.

2. The company does not have any inventories during the year hence clause (ii) of the aforesaid order is not applicable.

3. According to the information and explanations given to us, the company has not granted any loans, secured and unsecured to companies, firms and other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

4. According to the information and explanations given to us, the Company has not taken any loans, secured and unsecured from companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

5. Based on the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that there are no such transactions that need to be entered into the register maintained under section 301.

6. The company has not accepted any deposit from public within the meaning of section 58A of the Companies Act,1956 during the year under review.

7. According to the information and explanations given to us, the company does not have a formal internal audit system.

8. The Central Government of India has not prescribed the maintenance of cost records by the Company under Section 209(1 )(d) of the Act for any of its products.

9. According to the records of the company, the company is regular in depositing undisputed statutory dues including provident fund, investor education protection fund, employees'' state insurance, income-tax, sales-tax, wealth-tax, custom duty, excise-duty, cess and other statutory dues applicable to it with appropriate authorities. Based on the audit procedures applied by us and according to the information and explanations provided by the management, there are no arrears of statutory dues which have remained outstanding at the year end for a period of more than six months from the date they became payable.

10. According to the records of the company, there are no dues of sales tax, income tax, customs tax/wealth-tax. Excise duty/cess which has not been deposited on account of any dispute.

11. The company has accumulated losses of Rs. 1,77,17,721/- (Pr. Year Rs. 1,76,38,961/-) at the end of the year. The company has incurred cash losses during the financial year covered under audit. The company also incurred cash losses during the immediately preceding financial year.

12. Based on our audit procedures and on the basis of 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, banks or debenture holders.

13. The company has not given any guarantee for loans taken by others from bank or financial institutions.

14. In our opinion and according to the information and explanations given to us, there are adequate internal control systems 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 controls.

15. In our opinion, the company is not a chit fund or a nidhi/mutual benefit fund / society. Hence the clause 4 (xiii) of the CARO, 2003 are not applicable to the company.

16. The Company has not granted loans or advances on the basis of security by way of pledge of shares, debentures and other securities.

17. The company has maintained proper records of the transactions and contracts in respect of investment dealings. The shares & securities, debentures and other securities have been held by the company in its own name.

18. The Company has not taken any term loan during the year.

19. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained u/s 301 of the Act during the year.

20. On the basis of review of utilization of funds on overall basis, related information as made available to us and as represented to us by the management, funds raised on short term basis have not been used for long term and vice-versa during the year.

21. The company has not issued any debentures during the year and therefore the question of creating security in respect thereof does not arise.

22. The company has not made any public issue of any securities during the year and therefore the question of disclosing the end use of money does not arise.

23. During the course of our examination of the books of account carried out in accordance with the generally accepted auditing practices in India, we have neither come across any instance of fraud on or by the Company, either noticed or reported during the year, nor have we been informed of such case by the management

For

H. K. Saha & Co

Chartered Accountants

Swapan Kumar Saha

Proprietor

(M. No : 51336)

Firm Registration No. 301055E

Place of Signature: Kolkata

Date : 01.09.2010