You are here » Home » Companies » Company Overview » Bazel International Ltd

Bazel International Ltd.

BSE: 539946 Sector: Financials
NSE: N.A. ISIN Code: INE217E01014
BSE 00:00 | 05 Sep Bazel International Ltd
NSE 05:30 | 01 Jan Bazel International Ltd
OPEN 11.11
PREVIOUS CLOSE 11.11
VOLUME 100
52-Week high 11.11
52-Week low 0.00
P/E 9.50
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 11.11
CLOSE 11.11
VOLUME 100
52-Week high 11.11
52-Week low 0.00
P/E 9.50
Mkt Cap.(Rs cr) 2
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 Standalone Financial Statements

We have audited the accompanying standalone financial statements of BAZELINTERNATIONAL LIMITED ("the Company") which comprise the Balance Sheet asat 31st March 2019 the Statement of Profit and Loss and statement of Cash Flow Statementfor the year then ended including a summary of the significant accounting policies andother explanatory information.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act 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 31 March 2019 and its Loss and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Companies Act 2013. Our responsibilities under those Standards arefurther described in the Auditor's Responsibilities for the Audit of the FinancialStatements section of our report. We are independent of the Company in accordance with theCode of Ethics issued by the Institute of Chartered Accountants of India together with theethical requirements that are relevant to our audit of the financial statements under theprovisions of the Companies Act 2013 and the Rules thereunder and we have fulfilled ourother ethical responsibilities in accordance with these requirements and the Code ofEthics. We believe that the audit evidence we have obtained is sufficient and appropriateto provide a basis for our opinion.

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 Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act. 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 implementation and maintenance ofaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation 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 financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

Those Board of Directors are also responsible for overseeing the company's financialreporting process

Auditor's Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

Other Matter

We did not audit the financial statements/ information of NIL branches included in thestandalone financial statements of the company whose financial statements/financialinformation reflect total assets of Rs. NIL as at 31st March 2019 and the total revenue ofRs. NIL for the year ended on that date as considered in the standalone financialstatements/information of these branches have been audited by the branch auditors whosereports have been furnished to us and our opinion in so far as it relates to the amountsand disclosures included in respect of branches is based solely on the report of suchbranch auditors. N.A.

Our opinion is not modified in respect of these matters.

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 and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2019 taken on record by the Board of Directors none of the directors isdisqualified as on31st March 2019 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 31.03.2019 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 long-term 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
PLACE : DELHI (K.K.GUPTA)
DATED : 10/05/2019 PARTNER
M No. 087891

ANNEXURE - I REFERRED TO IN PARAGRAPH 1 OF THE AUDITORS' REPORT ON ACCOUNTS FOR THEYEAR ENDED 31st MARCH 2019

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. No order has been passed by Company Law Board orNational Company Law Tribunal or Reserve Bank of India or any Court of any other Tribunal.

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 year under Audit. There are no loans from Government and the companyhas 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 31.03.2019.

11. According to the information and explanations given to us the company has notprovided any managerial remuneration for the year 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 year 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 : 10/05/2019 M.No. 087891