form b covering letter of the annual audit report to be filed with the stock … · 2014-09-12 ·...

Form B

Covering Letter of the Annual Audit Report to be filed with the Stock Exchanges

1. Name of the

Company

ETT Limited

2. Annual financial

statements for the

year ended

March 31, 2014

3. Type of Audit

qualification

Qualified/ Subject to/ Except for

4. Frequency of

qualification

Repetitive in respect of Observation (ii) regarding Entry Tax from the financial year 2010-11

Repetitive in respect of Observation (ii) regarding Income Tax from the financial year 2012-13

5. Draw attention to

relevant notes in

the annual

financial

statements and

management

response to the

qualification in

the Directors

Report

(i) Auditors’ Observations in Annexure to Auditors’ Report

Point No. (ix)(b): According to the information and explanations given to us there are no

undisputed amounts payable in respect of statutory dues like Provident Fund, Employees’ State

Insurance, Income Tax, VAT, Service Tax and Cess etc. outstanding for a period of more than

six months at 31st March 2014 from the date they became payable except as given below:

Name of

the Statute

Nature of the

Dues

Amount

(Rs.)

Period to

which the

amount

relates

Due Date Date of

Payment

Haryana

Municipal

Corporation

Act,1994

Property Tax 3,58,000/- F.Y

2007 – 2008

to 2013-2014

F.Y

2007 – 2008

to 2013-2014

Not Paid till

date

Management Response on abovestated Auditors’ Observations

As regards the above observation of Auditors, the Board clarifies that the Company has made

the payment of applicable Property Tax along with interest, with appropriate authorities, after

the Balance Sheet date.

(ii) Auditors’ Observations in Annexure to Auditors’ Report

Point No. (ix)(c): According to the information and explanations given to us there is no

disputed amount payable in case of Provident Fund, Employees’ State Insurance, Income Tax,

Service Tax, VAT, Customs Duty, Cess etc. except as given below:

Name of

the Statute

Nature of

the Dues

Amount

(Rs.)

Period to

which the

amount

relates

Forum where dispute is

pending

Commercial

Taxes under

UPVAT Act,

2007

Entry Tax 36,295/- F.Y

2007 – 2008

Assistant Commissioner,

Ward – 3, Commercial

Tax, Noida

Commercial

Taxes under

UPVAT Act,

2007

Sales Tax 1,46,996/- F.Y

2009 – 2010

Assistant Commissioner,

Ward – 3, Commercial

Tax, Noida

Income Tax

Act, 1961

Income Tax 286,237/- A.Y

2010 – 2011

Commissioner of Income

Tax, Appeal - II, Income

Tax Office, New Delhi

Management Response on abovestated Auditors’ Observations

In the opinion of the Board, the comment of the Auditors read with the Note no. 34 of

Notes to Financial Statements is self explanatory and do not warrant any specific

clarification.

6. Additional

comments from

the Board/Audit

Committee chair

Nil

for and on behalf of ETT Limited

Sd/- Sd/- Sd/-

Sandeep Sethi Gurupreet Sangla Harjit Singh Kalra

Managing Director Jt. Managing Director Chairman – Audit Committee

DIN: 00053915 DIN: 00036988 DIN: 00047314

for VSD & Associates for L.D. Saraogi & Co.

Chartered Accountants Chartered Accountants

F.R.No. 008726N F.R.No. 005524N

Sd/- Sd/-

(Vinod Sahni) (Jitender Saraogi)

Partner Partner

M.No. 086666 M.No. 502337