| 5. | Further to our comments in the Annexure referred to in paragraph 3 above, we report that : | ||
| (a) | Except for the effects of the matter referred to in paragraph 4(a) above, 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; | ||
| (b) | In our opinion, except for the effects of the matters referred to in paragraph 4 proper books of account as required by law have been kept by the Company so far as appears from our examination of those books; | ||
| (c) | The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account; | ||
| (d) | In our opinion, except for the effects of the matter referred to in paragraph 4(b) above, the Balance Sheet, Statement of Profit and Loss 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 Act; | ||
| (e) | On the basis of written representations received from the directors, as on 31st March, 2012 and taken on record by the Board of Directors, none of the directors is 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 Act; | ||
| (f) | In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto give, in the prescribed manner, the information required by the Act, and except for the effect of the matters referred to in paragraph 4 above, aggregating to Rs. 18.14 crore to the extent ascertainable give a true and fair view in conformity with the accounting principles generally accepted in India : | ||
| (i) | in the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2012 | ||
| (ii) | in the case of the Statement of Profit and Loss, of the loss for the year ended on that date; and | ||
| (iii) | in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. | ||
| Kolkata 28th April, 2012 |
For Price Waterhouse Firm Registration No : 301112E Chartered Accountants Prabal Kr. Sarkar Partner Membership Number 52340 |
