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Bazel International Ltd.

BSE: 539946 Sector: Financials
NSE: N.A. ISIN Code: INE217E01014
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NSE 05:30 | 01 Jan Bazel International Ltd
OPEN 27.85
PREVIOUS CLOSE 27.85
VOLUME 100
52-Week high 63.00
52-Week low 23.00
P/E 15.82
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 27.85
CLOSE 27.85
VOLUME 100
52-Week high 63.00
52-Week low 23.00
P/E 15.82
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bazel International Ltd. (BAZELINTERNATIO) - Auditors Report

Company auditors report

TO THE MEMBERS OF BAZEL INTERNATIONAL LIMITED

Report on the Audit of the Standalone Financial Statements

We have audited the accompanying standalone Ind AS financial statements of (‘theCompany') which comprise the Balance Sheet as at 31 March 2021 the Statement of Profitand Loss including the Statement of Other Comprehensive Income the Cash Flow Statementand the Statement of Changes in Equity for the year then ended and notes to the financialstatements including a summary of significant accounting policies and other explanatoryinformation.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Companies Act 2013 as amended (‘the Act') in the manner so requiredand give a true and fair view in conformity with the accounting principles generallyaccepted in India of the state of affairs of the Company as at 31 March 2021 its profitincluding other comprehensive income its cash flows and the changes in equity for theyear ended on that date.

Basis for Opinion

We conducted our audit of the standalone Ind AS financial statements in accordance withthe Standards on Auditing (SAs) as specified under section 143(10) of the Act. Ourresponsibilities under those Standards are further described in the ‘Auditor'sresponsibilities for the audit of the standalone Ind AS Financial Statements' section ofour report. We are independent of the Company in accordance with the ‘Code of Ethics'issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules thereunder and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion on the standalone Ind AS financial statements.

Responsibility of Management's for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these standalone Ind AS financialstatements that give a true and fair view of the financial position financial performanceincluding other comprehensive income cash flows and changes in equity of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Ind AS) specified under section 133 of the Act read with theCompanies (Indian Accounting Standards) Rules 2015 as amended. This responsibility alsoincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and the designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the standalone Ind AS financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the standalone Ind AS financial statements Management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessManagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

Those charged with governance are also responsible for overseeing the Company'sfinancial reporting process.

Auditor's Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalone Ind ASfinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditors' report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these standalone Ind AS financial statements.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone Ind ASfinancial statements whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.

• Obtain an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Under section 143(3)(i)of the Act we are also responsible for expressing our opinion on whether the Company hasadequate internal financial controls system in place and the operating effectiveness ofsuch controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by Management.

• Conclude on the appropriateness of Management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditors' report to the related disclosures inthe financial statements or if such disclosures are inadequate to modify our opinion.Our conclusions are based on the audit evidence obtained up to the date of our auditors'report. However future events or conditions may cause the Company to cease to continue asa going concern.

• Evaluate the overall presentation structure and content of the standalone IndAS financial statements including the disclosures and whether the standalone Ind ASfinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the standalone Ind AS financialstatements for the financial year ended 31 March 2021 and are therefore the key auditmatters. We describe these matters in our auditors' report unless law or regulationprecludes public disclosure about the matter or when in extremely rare circumstances wedetermine that a matter should not be communicated in our report because the adverseconsequences of doing so would reasonably be expected to outweigh the public interestbenefits of such communication.

Report on Other Legal and Regulatory Requirements

1) As required by ‘the Companies (Auditor's Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2013 we give in the Annexure ‘I' a statement onthe matters specified in paragraphs 3 and 4 of the Order to the extent applicable.

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

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

b) In our opinion proper books of account 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 and Loss including the Statement ofOther Comprehensive Income the Cash Flow Statement and Statement of Changes in Equitydealt with by this Report are in agreement with the books of account;

(d) In our opinion the aforesaid standalone Ind AS financial statements comply withthe Accounting Standards specified under Section 133 of the Act read with Companies(Indian Accounting Standards) Rules 2015 as amended;

(e) On the basis of the written representations received from the directors as on 31stMarch 2021 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2021 from being appointed as a director in terms of Section164 (2) of the Act.

(f) In our opinion the company has in all material respects reasonably adequateinternal financial controls system over financial reporting keeping in view the size ofthe company and nature if its business. Such Internal financial controls over thefinancial reporting were operating effectively as on 31.03.2021 based on the internalcontrol over financial reporting criteria established by the company considering theessential components of internal control stated in the Guidance Note " Audit ofInternal Financial Controls Over Financial Reporting " issued by The institute ofChartered accountants of India.

(g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i) The Company does not have any pending litigations on its financial position in itsfinancial statements.

ii) According to the information and explanations provided to us the Company did nothave any longterm contracts including derivative contracts for which there were anymaterial foreseeable losses.

iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For Krishan Rakesh & Co.
Chartered Accountants
Firm Regn No. 009088N
K.K. Gupta
Place : Delhi (Partner)
Dated : 30-06-2021 M.No. 087891
UDIN : 21087891AAAACG9477

ANNEXURE - I REFERRED TO IN PARAGRAPH 1 OF THE AUDITORS' REPORT ON ACCOUNTS FOR THEYEAR ENDED 31st MARCH 2021

1. a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

b) As explained to us all the fixed assets have been physically verified by themanagement in a phased periodical manner which in our opinion is reasonable havingregard to the size of the Company and nature of its assets. No material discrepancies werenoticed on such physical verification.

c) According to information & explanation given to us company does not have anyimmovable property.

2. The Company has no Inventory during the year under Audit.

3. As informed to us the company has not granted loans secured or unsecured tocompanies firms Limited Liability Partnership (LLP) or other parties covered in theregister maintained under section189 of the Companies Act.

4. According to the information and explanations given to us the company has complieswith section 185 and 186 of the Companies Act 2013 in respect of loans investmentsguarantees and security provided.

5. According to the information and explanations given to us the company has notaccepted any deposits in terms of the directives issued by the Reserve Bank of India andthe provisions of sections 73 to 76 or any other relevant provisions of the Companies Actand the rules framed there under.

6. In respect of business activities of the company maintenance of cost records hasnot been specified by the Central Government under sub-section (l) of section 148 of theCompanies Act 2013.

7. a) As per information and explanations given to us the company is regular indepositing undisputed statutory dues including provident fund employees ‘stateinsurance income-tax sales-tax wealth tax service tax duty of customs duty ofexcise value added tax cess and any other statutory dues with the appropriateauthorities. There are no outstanding statutory dues as at the last day of the financialyear under audit for a period of more than six months from the date they became payable.

b) We According to information and explanations given to us there are no dues ofIncome Tax Sales Tax Wealth Tax Custom Duty Excise Duty Cess Octroi entry tax andother statutory dues which have not been deposited on account of any dispute.

8. The company has not obtained any loan from Financial Institution Banks andGovernment during the period under Audit. The Company has not issued any debentures.

9. The company has not obtained any Term Loans during the year under audit .The companyhas not raised any money during the year by way initial or further public offer.

10. Based upon the audit procedures performed and information and explanations given bythe management we report that no fraud by the Company or on the company by its officersor employees has been noticed or reported during the course of our audit for the yearended 31.03.2021.

11. According to the information and explanations given to us the company has notprovided any managerial remuneration for the period under audit.

12. The provisions of clause (xii) of the order are not applicable as the company isnot a Nidhi Company as specified in the clause.

13. According to information and explanations given to us we are of the opinion thatCompany has not entered into any related party transaction for the period under audit.

14. According to information and explanations given to us the company has not made anypreferential allotment or private placement of shares or debentures during the year.

15. According to information and explanation given to us the company has not enteredinto any non-cash transaction with the director or any person connected with him duringthe year.

16. According to the information and explanations given to us In view of its businessactivities the company has obtained registration under section 45IA of Reserve Bank ofIndia Act 1934.

For Krishan Rakesh & Co.
Chartered Accountants
Firm Regn No. 009088N
K.K. Gupta
Place : Delhi (Partner)
Dated : 30-06-2021 M.No. 087891
UDIN : 21087891AAAACG9477

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