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New Light Apparels Ltd.

BSE: 540243 Sector: Others
NSE: N.A. ISIN Code: INE835U01019
BSE 09:32 | 22 Oct 39.65 1.85
(4.89%)
OPEN

39.65

HIGH

39.65

LOW

39.65

NSE 05:30 | 01 Jan New Light Apparels Ltd
OPEN 39.65
PREVIOUS CLOSE 37.80
VOLUME 340
52-Week high 76.95
52-Week low 16.30
P/E 94.40
Mkt Cap.(Rs cr) 9
Buy Price 39.65
Buy Qty 3527.00
Sell Price 0.00
Sell Qty 0.00
OPEN 39.65
CLOSE 37.80
VOLUME 340
52-Week high 76.95
52-Week low 16.30
P/E 94.40
Mkt Cap.(Rs cr) 9
Buy Price 39.65
Buy Qty 3527.00
Sell Price 0.00
Sell Qty 0.00

New Light Apparels Ltd. (NEWLIGHTAPPARE) - Auditors Report

Company auditors report

To

The Members of

NEW LIGHT APPARELS LIMITED

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying standalone Ind-AS financial statements of NEW LIGHTAPPARELS LIMITED ("the Company") which comprise the Balance Sheet as at 31March 2019 and the Statement of Profit and Loss (including Other Comprehensive Income)the Cash Flow Statement and the Statement of Changes in Equity for the year then endedand a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Ind AS 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 Ind AS financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income cash flowsand changes in equity of the Company in accordance with the accounting principlesgenerally accepted in India including the Indian Accounting Standards (Ind AS) prescribedunder section 133 of the Act.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the standaloneInd-AS financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone Ind AS financialstatements based on our audit.

In conducting our audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made thereunder. We conductedour audit of the standalone Ind AS financial statements in accordance with the Standardson Auditing specified under Section 143(10) of the Act. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the standalone Ind AS financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures inthe standalone Ind-AS financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the standalone Ind-AS financial statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the standalone Ind AS financial statements thatgive a true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by the Companymanagement as well as evaluating the overall presentation of the standalone Ind ASfinancial statements.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the standalone Ind AS financial statements.

Opinion

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 Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at 31 March 2018 and its loss including other comprehensive income its cashflows and the changes in equity for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government in terms of Section 143(11) of the Act we give in"Annexure A" a statement on the matters specified in paragraphs 3 and 4 of theOrder.

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 Other ComprehensiveIncome the cash Flow Statement and Statement of Changes in Equity dealt with by thisReport are in agreement with the books of account.

d) In our opinion the aforesaid standalone Ind AS financial statements comply with theIndian Accounting Standards prescribed under section 133 of the Act.

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 on 31 March 2019 from being appointed as a director in terms of Section164(2) of the Act.

f) As per Information & explanations given to us reporting on internal financialcontrols over financial reports is not applicable to the company vide Notification date13th June 2017 (G.S.R 583(E1)) issued by Ministry of Corporate Affairs.

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 as amended inour opinion and to the best of our information and according to the explanations given tous:

i. The Company has disclosed the impact of pending litigations on its financialposition in its standalone Ind AS financial statements.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts if any.

iii. There was no amount which was required to be transferred to the investor educationand protection fund of the company.

For Rajan Malik & Co.
Chartered Accountants
(Firm's Registration No. 019859N)
Sd/-
Rajan Malik
(Partner)
M.No:-085801
Place: Noida
Date: 29th May 2019

The Annexure referred A to in paragraph 1 of Our Report on "Other Legal andRegulatory Requirements"

We report that: i.

a) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

c) As informed to us company not having any immovable property hence clause 1(c) notapplicable to the company.

ii. As explained to us inventories have been physically verified during the year bythe management at reasonable intervals. No material discrepancy was noticed on physicalverification of stocks by the management as compared to book records.

iii. According to the information and explanations given to us and on the basis of ourexamination of the books of account the Company has not granted any loans secured orunsecured to companies firms Limited Liability Partnerships or other parties listed inthe register maintained under Section 189 of the Companies Act 2013. Consequently theprovisions of clauses iii (a) (b) and (c) of the order are not applicable to the Company.

iv. According to the information and explanation given to us the company has notgiven/made any loans investments guarantees and security covered under provisions ofsection 185 and 186 of the Companies Act 2013. Hence clause iv of the order is notapplicable to the company.

v. The company has not accepted any deposits from the public covered under sections 73to 76 of the Companies Act 2013.

vi. As per information & explanation given by the management maintenance of costrecords has not been specified by the Central Government under sub-section (1) of section148 of the Companies Act 2013.

vii.

a) According to the records of the company undisputed statutory dues includingProvident Fund Investor Education and Protection Fund Employees' State InsuranceIncome-tax Sales-tax Service Tax Custom Duty Excise Duty value added tax cess andany other statutory dues to the extent applicable have generally been regularly depositedwith the appropriate authorities. According to the information and explanations given tous there were no outstanding statutory dues as on 31st March 2019 for a periodof more than six months from the date they became payable.

b) According to the information and explanations given to us there is no amountpayable in respect of income tax service tax sales tax customs duty excise duty valueadded tax and cess whichever applicable which have not been deposited on account of anydisputes except following.

Nature of the Statue Nature of the dues Amount (in INR Thousand)
Income tax act Demand under TDS 44.96

viii. In our opinion and according to the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto financial institutions/banks.

ix. Based on our audit procedures and according to the information given by themanagement the money raised by way issue of loan have been applied for the purpose forwhich they were obtained.

x. According to the information and explanations given to us we report that no fraudby the company or any fraud on the Company by its officers or employees has been noticedorreported during the year.

xi. The company is a private limited company. Hence the provisions of clause xi) of theorder are not applicable to the company.

xii. The company is not a Nidhi Company. Therefore clause xii) of the order is notapplicable to the company.

xiii. According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013where applicable and the details have been disclosed in the Financial Statements etc. asrequired by the applicable accounting standards.

xiv. The company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

xv. The company has not entered into non-cash transactions with directors or personsconnected with him.

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

For Rajan Malik & Co.
Chartered Accountants
(Firm's Registration No. 019859N)
Sd/-
Rajan Malik
(Partner)
M.No:-521879
Place: Noida
Date: 29th May 2019

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