Dear All,
Need your suggustion for reply in Director Report in respect of below mentioned comment/adverse remarks of Auditors in BS in our some subsidiaries.
1. The company accumulated losses at the end of FY are more than 50% of its net worth.
2. According to the information and explanations given to us, the company has been regular in depositing undisputed statutory dues except for the Wealth Tax of Rs. 15 lakh for the financial year 2008-09 which is still unpaid.
3. The company does not have accumulated losses but has incurred cash losses of Rs. 13000 during the FY. There was no cash loss in the preceding FY.
All are in italic by auditors.
Please reply with suggusted note in Director Report.
Regards,
ACS Amit Kumar
CAclubindia
