MUKAT PIPES LIMITED

AN ISO 9001-2008 COMPANY

Manufacturers

of Large Diameter SAW Pipes

-Longitudinal Welded

REF/MPLl20161/9o

-Spiral Welded

Correspondence Address :Rajpura- Patiala Road,

Rajpura - 140401 (Punjab)
Phone
: +91 1762-225040, 325498
Fax:
+91 1762-222390
.
e-mail:
mukat@mukatpipes.com
mukatpipes@gmail.com
Website:
www.mukatpipes.com
CIN No. : L27200MH1987PLC044407

Date: 12.09.2016

The Manager
Department of Corporate Services
SSE Limited.
Dalal Street
Mumbai.
Dear Sir,
Ref: Stock Code - 532832
Sub: Submission of Statement on Impact of Audit Qualification for the Year ended 31st March. 2015.

,.-

Dear Sir,
In response to your email dated 5th August, 2016, we are submitting herewith the Statement on Impact
of Audit Qualification for the Year ended 31st March, 2015 as per the required format.
Please take the same on your records .

MUKAT

------------------------39, Parag Apartments,

Regd.Office:-----------------------7th Floor, J.P. Road, Versova, Andheri (West) Mumbai - 400061

Annexure - I
Statement

on Impact of Audit Q~alifi~ation

(for audit report with modified opinion) submitted

along-with Annual Audited Financial Results - (Standalone

Statement on Impact of Audit Qualification
[See Regulation

.'
Particulars

2016]

Audited Figures

Audited Figures

(as reported

(as audited figures

before adjusting

after adjusting for

for qualifications)

qualifications)

(Rs. in Lacs)

(Rs. in Lacs)

..

Regulations,

.;j

SI.
No.

separately)

for the Financial Years ended March 31; 2015

33 of the SEBI (LODR)(Amendment)

,
I.

and Consolidated

1.

Turnover / Total income

621.42

621.42

2.

Total Expenditure

783.03

810.41

3.

Net Profit/(Loss)

(184.81 )

(212.19)

4.

Earnings Per Share

(2.360)

(1.79)

5.

Total Assets

648.~4

636.71

6.

Total Liabilities

648.84

636.71

7.

Net Worth

(718.96)

(691.58)

8.

Any other financial item(s) (as felt

...

!
)

appropriate by the management)

Audit bualificatiori

(each audit qualification

separately):

a. Details of Audit Qualification:

1) Non provisioning of' interest on Secured loan

2) The Company has yet to transfer Rs.12.13 Lacs on account of unpaid dividend
to Investor Education and Protection Fund.

3) In 'the absence of confirmatlbn

ietter of balances from Debtors, Creditors and

Other parties, balances are taken as per books of accounts.

!j

4)The Company has not produced books of accounts and other relevant record in
respect of Baramati unit which has since been sold, as such the balances are taken
as per audited balance sheet as on 31-03-2008. The impact of transactions entered
into by the company at Baramati unit after 31-03-2008 will be considered when the
relevant documents are produced.

b. Type of Audit Qualification: Qualified Opinion .

c. Frequency of qualification: First time! Repetitive.

i

d. For Audit Qualification(s) wher.e the impact is quantified by the auditor,

Management's Views: N.A.

e. For Audit Qualification(s)

where the impact is not quantified by the auditor:
,
.
,

(i) Management's estimation on the impact of audit qualification:

.'

. .

.;~

1) Non provisioning of interest on Secured loan

The Company has started makinq efforts to improv~ its operation to generate funds in order
to make due obligations. The interestfor
MIs. Silver Business opportunities

Rs. 27.38 Lacs has not been provided to the lender

Pvt. Ltd due to inadequate funds.

2) The Company has yet to transfer Rs.12.13 Lacs on account of unpaid dividend to
Investor Education and Protection Fund.
The Company has taken up the matter with Banks for remitting the amount.

(ii) If management is unable to estimate the impact, reasons for the same:

1) In the absence of confirmation letter of balances from Debtors, Creditors and Other
parties, balanc;esare taken as per books of accounts.
The Company

is in the .process to sending the balance confirmation

.'

Debtors.

letter to Creditors &

2) The Company has not produced books of accounts and other relevant record in

respect of Baramati unit which has since been sold, as such the balances are taken as
per audited balance sheet as on 31-03-2008.The impact of transactions entered into by
the company at Baramati
~ . unit, after 31-03-2008will be considered when the relevant
documents are produced.

The Cornpanyhas

already sold the Baramati unit under the process of BIFR. Efforts are

being made to procure the desired information.

.'

(iii) Audltors' Comments

a)

on (i) or (ii) above:'

The Non Provision of interest on secured loan works out to Rs27.38 Lacs. It will result
in loss.

b)

If the unpaid dividend

is. remitted it ~ill result in reduction

of total assets and total

liabilities by RS.12.13 Lacs.

c)

The impact of two other observations cannot be estimated.

d)
III.

Signatories:

.'

..

Chairman

and Executive

Director

CFO

There is no CFO

Audit Committee

Chairman'

Mr. Amrik Singh Grewal

DIN: 01239180
!

MIs. R.P. Bhambri

Chartered

& Co.,

Accountant,

(Firm Registration

No. 001312N)

Ranjit Parkash
Statutory

Auditor

Proprietor
Membership

Place: RAJPUR~

Date:09-09-2016

..:

.s

Patiala

No. 080084