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ANNEXURE TO THE AUDITORS REPORT TO THE MEMBERS OF  PRATIVA TRADERS COMPANY LIMITED (Referred to in Paragraph (1) of our Report of even date)

i)                    (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us, the company has a system of verifying all its major fixed assets over a period of three years. The fixed assets so scheduled for verification during this year have been physically verified by the management. The discrepancies noticed on such verification were not material and have been properly dealt with in the books of account

(c) During the year the company has not disposed off any substantial / major part of fixed assets which affect the going concern.

ii)                   (a) As per the information furnished the inventories have been physically verified during the year by the management. In our opinion, having regard to the nature and location of stock, the frequency of the physical verification is required to be strengthened.

(b) In our opinion and according to the information and explanations given to us, procedures of physical verification of inventory followed by the management is required to be strengthened in relation to the size of company and the nature of its business.

(c) The Company is maintaining proper records of inventory. In our opinion, discrepancies noticed on physical verification were not material in relation to the operation of the Company and the same have been properly dealt with in the books of account.

iii) (a) The Company has neither granted nor taken any loan secured / unsecured from  
         Companies covered in the register maintained under section 301 of the Companies Act,  
          1956 (1 of 1956). 

(b) As stated above sub clause (b) to (g) of Clause (iii) of the Companies (Auditors Report) order, 2010 are not applicable.

(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, for the purchase of inventory and fixed assets and for sale of the goods and services. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system.

(v)     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, sub clause   (a) & (b) of Clause (v) of the Companies (Auditors Report) order, 2010, is not applicable since no  contracts or arrangements referred to in Section 301 of the Companies Act, 1956 have been   entered into by the Company during the year.    

vi)The Company has not accepted any deposit from the Public within the meaning of section 58 A and 58 AA of the Companies Act, 1956.


vii)      In our opinion, the Company has an internal audit system, commensurate with its size and the nature of its business. However the same is required to be strengthened.

                viii)         The Central Government has not prescribed maintenance of cost records under section         209 (1) (d) of the Companies Act, 1956 for any of the products of the Company.

           ix)(a)     According to the information and explanations given to us and records examined by us, the Company is generally depositing with appropriate authorities undisputed statutory dues including provident fund, investors education and protection fund, employees state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other statutory dues wherever applicable. According to the information and explanation given to us, no undisputed arrears of statutory dues were outstanding as at 31st March 2017 for a       period of more than six months from the date they became payable except as given below:

Nature of  dues
Amount (Rs. In lacs)
Income Tax
18.09
Professional Tax
14.23
Dividend Tax
97.50
CST
25.25
VAT / WCT
18.40
Service Tax
34.60
Excise Duty
24.20
P. F.
560.40
ESI
30.20
       
(b) According to the records of the Company, the dues of Income tax / Sales tax / Wealth tax / Service Tax / Customs duty / Excise duty / cess which have not been deposited on account of disputes and the forum where the dispute is pending are as under:

Name  of Statute
Nature of dues
Period to which it relates
Amount (Rs/Lacs)
Forum where dispute is pending
WBST
Declaration Form, WCT, Interest, Penalty etc.
1985-86 to
2015-16
8203.20
ACCT/DCCT
(Bengal)
WBST
      -do-
 2009-10

22.22
Tribunal
(Bengal)
CST
      -do-
1985-86 to
2009-10
4466.20
ACCT/DCCT
(Bengal)
Service
Tax
-do-
2015-2016
225.26
CESTAT
Service
Tax
-do-
2014-2015
6.60
CCE(Appeal)




 x)        The Company has no accumulated losses at the end of the financial year and it has not
                        incurred cash losses in the current year and immediately preceding financial year.


            xi)       Based on our audit procedures and the information given by the management, we are of             the opinion that the Company has no default in payment of dues to a financial institution,      bank or debentures holders except Rs.520.30  from Banks.

xii)       Based on our examination of the records and the information and the explanations given to  us, the Company has not granted any loans and  / or advances on the basis of security by way of pledge of shares, debentures, and other securities.

xiii)      Clause (xiii) of the Companies (Auditors Report) order, 2015 is not applicable to the Company as the Company is not a Chit Fund Company or nidhi / mutual benefit fund /  society.

xiv)             In our opinion, the Company is not dealing in or trading in shares, securities, debentures, and other investments. Accordingly, the provisions of clause 4 (xiv) of the Companies (Auditors Report) order, 2015 are not applicable to the Company.


xv)       According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from bank or financial institutions.

xvi)      According to the information and explanations given to us, no term loans were raised during       the year.

xvii)      According to the information and explanations given to us and on an overall examination of the   balance sheet and cash flow statement of the Company, we report that no funds 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.

xix)       During the year covered by our audit report the Company has not issued secured debentures.

xx)               The Company has not raised any money by the public issues during the year covered by our report.

xxi)             Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanation given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.

                                                                                                   
    5A, Esplanade Road.                                                                                For S.K.Sengupta & Co.
    Mumbai – 400041                                                                                       Chartered Accountant                                                                                                                       Firms  Registration No. 225512G                                                                                                                                                              

                                                                                                                                                                                                                                                              

                                                                                                                                               Partner

                                                                                                                                                                  Membership No: 42723
.                                                                                                                                                                                                                                                                                                                                                                                                                                  
Dated:.12th August,2017


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