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Panth Infinity Ltd.

BSE: 539143 Sector: Others
NSE: N.A. ISIN Code: INE945O01019
BSE 00:00 | 23 Apr 78.00 1.15
(1.50%)
OPEN

78.00

HIGH

78.00

LOW

78.00

NSE 05:30 | 01 Jan Panth Infinity Ltd
OPEN 78.00
PREVIOUS CLOSE 76.85
VOLUME 50
52-Week high 81.20
52-Week low 66.60
P/E 975.00
Mkt Cap.(Rs cr) 96
Buy Price 78.30
Buy Qty 50.00
Sell Price 78.00
Sell Qty 100.00
OPEN 78.00
CLOSE 76.85
VOLUME 50
52-Week high 81.20
52-Week low 66.60
P/E 975.00
Mkt Cap.(Rs cr) 96
Buy Price 78.30
Buy Qty 50.00
Sell Price 78.00
Sell Qty 100.00

Panth Infinity Ltd. (PANTHINFINITY) - Auditors Report

Company auditors report

To the Members of

Panth Infinity Limited

(Formerly known as Synergy Bizcon Limited)

Report on the Standalone Ind AS Financial Statements

We have audited the accompanying Standalone Ind AS financial statements of PanthInfinity Limited ("the company") which comprise the Balance Sheet as at March31 2018 and the Statement of Profit and Loss (including Other Comprehensive Income) theCash Flow Statement and the Statement of Changes in Equity for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone IndAs 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 read with relevant rules issued there under. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting 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 standalone Ind AS financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 theprovisions of the Act the accounting and auditing standards and matters which arerequired to be included in the audit report under the provisions of the Act and the Rulesmade thereunder. We conducted our audit of the standalone Ind AS financial statements inaccordance with the Standards on Auditing specified under section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the standalone Ind AS financialstatements are free from material misstatement. An audit involves performing procedures toobtain audit evidence about the amounts and disclosures in the standalone Ind AS financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the standalone Ind AS financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thestandalone Ind AS financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by the Company's Directors as well as evaluating the overallpresentation of the standalone Ind AS financial statements. We believe that the auditevidence obtained by us is sufficient and appropriate to provide a basis for our auditopinion 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 Standalone Ind AS financial statements give the information required bythe 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 March 31 2018 its profit including other comprehensive income its cash flows andthe changes in equity for the year ended on that date.

Other Matters

The comparative financial information of the Company for the year ended 31st March 2017and the transition date opening balance sheet as at 1st April 2016 included in these IndAS financial statements are based on the previously issued statutory financialstatementsprepared in accordance with the Companies (Accounting Standards) Rules 2006 audited bythe predecessor auditor whose report for the year ended 31st March 2017 and 31st March2016 dated 29 May 2017 and

29 May 2016 respectively expressed an unmodified opinion on those financialstatements as adjusted for the differences in the accounting principles adopted by theCompany on transition to the Ind AS which have been audited by us. Our opinion is notmodified in respect of above said matter.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act we report that: a) We have soughtand obtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purpose of our audit;

b) In our opinion proper books of account as required by law have been kept by theCompany so far as 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 relevant books of account;

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

e) On the basis of written representations received from the directors as on March 312018 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2018 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 " AnnexureA".

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 as at 31st March 2018 which wouldimpact its financial position. ii. The Company does not have any long-term contractsincluding derivative contracts for which there were any material foreseeable losses. iii.There were no amounts which were required to be transferred to the Investor

Education and Protection Fund by the Company. iv. The Company has provided requisitedisclosures in the standalone Ind AS financial statements. Based on audit procedures andrelying on the management representation we report that the disclosures are in accordancewith books of account maintained by the Company and as produced to us by the Management.

2. 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 "Annexure B" hereto a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

For A Biyani & CO.

Chartered Accountants Registration No. : 140489W

Ashutosh Biyani

Place: Surat

Proprietor

Date: 30/05/2018

Membership No. 165017

Annexure "A" To The Independent Auditor's Report Of Even Date On TheStandalone Ind As Financial Statements Of Panth Infinity Limited Report on the InternalFinancial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act2013 ("the Act")

We have audited the internal financial controls over financial reporting of PANTHINFINITY LIMITED ("the Company") as of March 31 2018 in conjunction withour audit of the standalone Ind AS financial statements of the Company for the year endedon that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls 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. 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 the Institute ofChartered Accountants of India and deemed to be prescribed under section 143(10) of theCompanies Act 2013 to the extent applicable to an audit of internal financial controlsboth applicable to an audit of Internal Financial Controls and both issued by theInstitute of Chartered Accountants of India. Those Standards and the Guidance Note requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting was established and maintained and if such controls operated effectively in allmaterial 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 internal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgement including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud 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.

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's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material 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

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2018 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For A Biyani & CO.

Chartered Accountants Registration No. : 140489W

Ashutosh Biyani

Place: Surat

Proprietor

Date: 30/05/2018

Membership No. 165017

"Annexure B" to the Independent Auditors' Report

(Referred to in our report of even date to the members of PANTH INFINITY LIMITED asat and for the year ended 31st March 2018).

i) In respect of its Fixed Assets: a) The Company has maintained proper records showingfull particulars including quantitative details and situation of fixed assets on thebasis of available information. b) As explained to us the Company has physically verifiedassets in accordance with a phased program of verification which in our opinion isreasonable having regard to the size of the Company and nature of its assets. No materialdiscrepancies were noticed on such physical verification as compared with the availablerecords. c) According to the information and explanations given to us and on the basis ofour examination the title deeds of immovable properties are held in the name of theCompany. d) In our opinion the physical verification of inventory has been conducted atreasonable intervals by the management during the year. No discrepancies were noticed onsuch physical verification. In respect of materials lying with outside partiesconfirmations have been obtained. e) The company has not granted any loans secured orunsecured to companies firms Limited Liability Partnerships or other parties covered inregister maintained under section 189 of the Act and hence sub-clause (a) (b) and (c) ofclause iii of Para 3 of the Order are not applicable. f) In respect of loans investmentguarantees and security the Company has complied with provision of section 185 and 186 ofthe Act. g) The company has not accepted any deposit from public and hence clause (v) ofPara 3 of the order is not applicable. h) According to the information and explanationsgiven to us Central Government has not prescribed maintenance of cost records undersub-Section (1) of Section 148 of the Act in respect of activities carried on by theCompany. Therefore the provisions of clause (vi) of paragraph 3 of the Order are notapplicable to the Company. i) a) The company is regular in depositing undisputed statutorydues including Provident Fund Employees' State Insurance Income Tax Sales-Tax ServiceTax duty of customs duty of excise value added tax cess and any other statutory dueswith appropriate authorities where applicable. According to the information andexplanations given to us there are no undisputed amounts payable in respect of suchstatutory dues which have remained outstanding as at 31st March 2018 for a period of morethan six months from the date they became payable. j) According to the records of thecompany there are no dues outstanding of income-tax sales-tax service tax duty ofcustoms duty of excise and value added tax on account of any dispute. k) The company hasnot defaulted in repayment of any dues to a financial institution bank and government.The company has not borrowed any amount by way of debentures. l) The company has notraised any money by way of Initial public offer or further Public offer (Including debtinstruments). Moneys raised by way of Term Loan were applied for the purpose for which theloan was obtained. ii) On the basis of our examination and according to the informationand explanations given to us no fraud by the company or any fraud on the company by itsofficers/employees has been noticed or reported during the year. iii) According to theinformation and explanations given by the management the managerial remuneration has beenpaid / provided in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Companies Act 2013 iv) The company is not a nidhiCompany and accordingly the information and explanations given to us provisions of NidhiRules 2014 are not applicable to the company. v) On the basis of our examination andaccording to the information and explanations given to us we report that all thetransaction with the related parties are in compliance with Section 177 and Section 188 ofthe Act and the details have been disclosed in the Financial statements in Note no.30(E)as required by the applicable accounting standards. vi) The company has not made anypreferential allotment/ private placement of share or fully or partly paid convertibledebentures during the year and accordingly provisions of clause (xiv) of Para 3 of theOrder are not applicable. vii) According to the information and explanations given to usthe company has not entered into any non-cash transactions with directors or personsconnected with him. viii) The company is not required to be registered under section 45-IAof the Reserve Bank of India Act1934 and accordingly provisions of clause (xvi) of Para3 of the Order are not applicable.

For A Biyani & CO.

Chartered Accountants Registration No. : 140489W

Ashutosh Biyani

Place: Surat

Proprietor

Date: 30/05/2018

Membership No. 165017