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Asia Pack Ltd.

BSE: 530899 Sector: Others
NSE: N.A. ISIN Code: INE784M01016
BSE 00:00 | 29 Sep 17.50 0
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NSE 05:30 | 01 Jan Asia Pack Ltd
OPEN 17.00
PREVIOUS CLOSE 17.50
VOLUME 100
52-Week high 20.85
52-Week low 14.55
P/E 18.42
Mkt Cap.(Rs cr) 5
Buy Price 17.50
Buy Qty 4.00
Sell Price 17.50
Sell Qty 96.00
OPEN 17.00
CLOSE 17.50
VOLUME 100
52-Week high 20.85
52-Week low 14.55
P/E 18.42
Mkt Cap.(Rs cr) 5
Buy Price 17.50
Buy Qty 4.00
Sell Price 17.50
Sell Qty 96.00

Asia Pack Ltd. (ASIAPACK) - Auditors Report

Company auditors report

To

The Members

Asia Pack Limited Nathdwara

Auditor's Opinion

We have audited the accompanying IndAs Financial Statements of Asia Pack LIMITED("The Company") which comprise the Balance Sheet as at 31st March2019 the statement of Profit and Loss the cash flow statement & the statement ofchanges in Equity for the year ended and a summary of the significant accounting policiesand other explanatory information.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid IndAs financial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2019 and its Profit including its cash flows and the changes in Equityfor the year ended on that date.

Basis for opinion

We conducted our audit of the IndAs Financial Statements in accordance with theStandards on Auditing specified under Section 143(10) of the Act. Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

Responsibility of Management for the Standalone Financial Statements:

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act2013 ("the Act") with respect to the preparation ofthese IndAS Financial Statements that give true and fair view of the financial positionand financial perfonuande including cash flows and changes in equity of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (IndAs) specified under Section 133 of the Act read with Rule7 of the Companies (Accounts) Rules 2014 & the Companies (Indian AccountingStandards) Rules 2015 as amended. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; in design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the IndAs financial statements that give a true and fairview md is free from material misstatement whether due to fraud or error.

Auditors' Responsibility for the Audit of Financial Statements

Our responsibility is to express an opinion on these IndAs financial statements basedon our audit. We have taken into account the provisions of the Act the accounting andauditing standards and matters which are required to be included in the audit report underthe provision of the Act and the Rules made thereunder.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The Procedures selected depend on the auditors'judgement including the assessment of the risks of material misstatement of the IndAsfinancial statement whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the company's preparation of theIndAs financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstandes. An audit also includes evaluatingthe appropriateness of the accounting policies used and the reasonableness of theaccounting estimates made by the company's directors as well as evaluating the overallpresentation of the IndAs financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our Audit opinion of the IndAs financial statements.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act. we give in the ‘Annexure-A' a statement on the matters specified inthe paragraph 3 &. 4 of the order.

As required by section 143(3) of the Act we report that:

a) We have sought and obtained all the information and explanations to the oest of ourknowledge and belief were necessary for the purposes of our audit.

b) In our opinion proper books of accounts as required by Law have been kept by theCompany so far as it appears from our examination of those books.

c) The Balance Sheet the Statement of Profit & Loss including the Cash FlowStatement & Statement of Changes in Equity dealt with by this report is in agreementwith the books of account.

d) In our opinion the aforesaid Ind As financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rule 2014 & the Companies (Indian Accounting Standards) Rules 2015 asamended.

e) On the basis of written representations received from the directors as on March 312019 taken on record by the' Board of Directors none of the directors is disqualified ason March 31 2019 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in "Annexure-B"

For VINOD SINGHAL & CO.

CHARTERED ACCOUNTANTS

Regis.tr.nion No.: 00S826C

Sd/-

PRATEEK GOYAL

Partner

Membership No.: 411040

Nathdwara 30tl! May 2019

"ANNEXURE-A" to the Independent Auditor's Report of even date on theFinancial

Statements of ASIA PACK LIMITED

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the Financial Statements for the year ended 31 March 2019 we report that:

i. In respect of its fixed assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets ;

b. These fixed assets have been physically verified by the management at reasonableintervals as per the policy of the company According to the information and explanationgiven to us no material discrepandies were noticed on such physical verification.

c. According to the information and explanation given to us and on the basis of ourexamination of the records of the company the title deeds of immovable properties areheld in the name of the company.

ii. In respect of its inventories:

a. According to the information and explanation given to us physical verification ofinventory has been conducted at reasonable intervals by the management and no materialdiscrepandies were noticed on such physical verific ation and however the company does nothold any physical inventory as on Balance sheet date.

iii. According to information and explanations given to us the company has not grantedloans secured or unsecured to any company firm Limited Liability Partnership or anyother party covered in the register maintained under section 189 of the Companies Act2013

iv. According to information and explanations given to us the Company has compliedwith the provisions of section 185 and 186 of the Companies Act 2013 In respect of loansand investments made

v. According to the information and explanation given to us the Company has notaccepted any deposit from public in terms of section 73 to 76 of the Companies Act 2013.

vi. We are informed that the Central Government has not prescribed maintenance of costrecords under section 148 (1) of the Act.

vii. In respect of statutory dues:

a. According to the information and explanations given to us and according to therecords of the Company amounts deducted/ accrued in the books of account in respect ofundisputed statutory dues as applicable and including Provident fund Income tax Salestax and Service tax and other material statutory dues have generally been regularlydeposited with the appropriate authorities. As explained to us the company did not haveany dues on accounts of employees' state insurance and duty of excise.

According to the information and explanations given to us no undisputed amountspayable in respect of the aforesaid dues were outstanding as at 31st March 2019 for aperiod of more than six months from the date they became payable.

b. As per information & explanation provided to us there are no pending demandsagainst the company where any disputes are pending in respect of income tax sales tax service tax custom duty excise duty where appeals if any are pending against orders bythe concerning department.

viii. The Company does not have any loan or borrowings from any financial institutionsbanks or debenture holders during the year and the company has not issued any debenture.Accordingly paragraph 3{viii) of the order is not applicable.

ix. The company did not raised by way of initial public offer or further public offer(including debt instruments) and term loans during the year. Accordingly paragraph 3(ix)of the order is not applicable.

x. According to the information and explanations given to us no material fraud by thecompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

xi. According to the information and explanations given to us and based on ourexamination of the records of the company the company has paid/ provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

xii. According to the information and explanations given to us the company is not aNidbi Company. Accordingly paragraph 3(xii) of the order is not applicable.

xiii. According to the information and explanations given to us transactions with therelated parties are in compliance with sections 177 and 188 of the Act where applicableand the details of such transaction have been disclosed in the Financial Statements asrequired by the applicable accounting standards.

xiv. According to the information and explanations given to us and based on ourexamination of the records of the company the company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

xv. According to the information and explanations given to us and based on ourexamination of the records of the company the company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe order is not applicable.

xvi. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For VINOD SINGHAL & CO.

CHARTERED ACCOUNTANTS

Registration No.: 005826C Sd/-

PRATEEK GOYAL

Membership No.:411040 Nathdwara 30th May 2019

"ANNEXURE-B" to the Independent Auditor's Report of even date on theFinancial

Statements of ASIA PACK LIMITED

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013

We have audited the Internal Financial Controls over financial reporting of Asia PackLIMITED as of March 31 2019 in conjunction with our audit of the financial statements ofthe Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalFinancial controls based the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control stagedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to Company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of interned financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to Iraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A Company's internal financial control over Financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A Company's1 internal financial control overfinancial reporting includes those policies and procedures that:

(1) Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the Company;

(2) Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the Company are being made only inaccordance with authorizations of management and directors of the Company; and

(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the Company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

We have framed our opinion on the basis of the management representation letterreceived by the Company's management. In our opinion the Company has in all materialrespects an adequate internal financial controls system over financial reporting and suchinternal financial controls over financial reporting were operating effectively as atMarch 31 2019 based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the institute of Chartered Accountants of India

For VINOD SINGHAL & CO.

UIAK I'ESED ACCOUNTANTS Kfkpivtration No.: OOSSZ6C

Sd/-

PRATEEK GOYAL

Partner

Membership No.: 41 104-0 Nathdwara.

30th May 2019