annual report 2011-12 - Heavy Engineering Corporation Limited

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ANNUAL REPORT 2011-12 17. According to the information and explanation given to us and on an overall examination of the Balance Sheet of the Company, We report that no funds raised on short-term basis have been used for long-term investment by the Company. 18. According to the information and explanation given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act. 19. The Clauses 4(xix) & (xx) of the Companies (Auditor’s Report) Order, 2003 are not applicable to the Company. 20. During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanation given to us, we have neither come across any instances of fraud on or by the company, noticed or reported during the year, nor we have been informed of such case by the Management No comments No comments No comments No comments For Anjali Jain & Associates Chartered Accountant CA Anjali Jan (Partner) Membership No. 72022 (S.K.CHAKRABORTY) General Manager (Finance)/HEC Place: Ranchi Dated:- 06.09.2012 18
ANNUAL REPORT 2011-12 COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 619 (4) OF THE COMPANIES ACT, 1956 ON THE ACCOUNTS OF HEAVY ENGINEERING CORPORATION LIMITED FOR THE YEAR ENDED 31 MARCH 2012 The preparation of financial statements of Heavy Engineering Corporation Limited for the year ended 31st March 2012 in accordance with the financial reporting framework prescribed under the Companies Act, 1956 is the responsibility of the management of the company. The statutory auditor appointed by the Comptroller and Auditor General of India under Section 619 (2) of the Companies Act, 1956 is responsible for expressing opinion on these financial statements under Section 227 of the Companies Act, 1956 based on independent audit in accordance with the auditing and assurance standards prescribed by their professional body the Institute of Chartered Accountants of India. This is stated to have been done by them vide their Audit Report dated 6 September, 2012. I, on the behalf of the Comptroller and Auditor General of India have conducted a supplementary audit under Section 619 (3) (b) of the Companies Act, 1956 of the financial statements of Heavy Engineering Corporation Limited for the year ended 31 March, 2012. This supplementary audit has been carried out independently without access to the working papers of the statutory auditor and is limited primarily to inquiries of the statutory auditor and company personnel and a selective examination of some of the accounting records. On the basis of my audit nothing significant has come to my knowledge which would give rise to any comment upon or supplement to Statutory Auditors' Report under Section 619 (4) of the Companies Act, 1956. For and on the behalf of the Comptroller & Auditor General of India Place: Ranchi Date: 20 November, 2012 (Sushil Kumar Jaiswal) Principal Director of Commercial Audit Ranchi. 19
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Page 7 and 8: BOARD OF DIRECTORS (As on 30.11.201
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Page 11 and 12: ANNUAL REPORT 2011-12 Gross Margin
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Page 21 and 22: Annexure to the Auditors Report ANN
Page 23: 9. Statutory Dues A. According to t
Page 28 and 29: OUR PROJECTS Conveyor System at New
Page 30 and 31: OUR PRODUCTS CNC Deep Hole Boring M
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Page 54 and 55: ANNUAL REPORT 2011-12 ANNEXURE - I
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