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United Leasing & Industries Ltd.

BSE: 507808 Sector: Industrials
NSE: N.A. ISIN Code: INE357P01014
BSE 00:00 | 17 Jan 6.72 0
(0.00%)
OPEN

6.72

HIGH

6.72

LOW

6.72

NSE 05:30 | 01 Jan United Leasing & Industries Ltd
OPEN 6.72
PREVIOUS CLOSE 6.72
VOLUME 150
52-Week high 6.75
52-Week low 6.15
P/E 2.97
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.72
CLOSE 6.72
VOLUME 150
52-Week high 6.75
52-Week low 6.15
P/E 2.97
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

United Leasing & Industries Ltd. (UNITEDLEASING) - Auditors Report

Company auditors report

ON ANNUAL FINANCIAL RESULTS OF UNITED LEASING AND INDUSTRIES LIMITED PURSUANT TO THEREGULATION 33 OF THE SEBI (LISTING OLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS2015

The Board Of Directors

United Leasing And Industries Limited

Gurugram Haryana

Report on the Audit of the Annual Financial Results

1. Opinion

We have audited the accompanying Annual financial results ("the Statement")of UNITED LEASING AND INDUSTRIES Limited ("the Company") for the quarter andyear ended on Marth 312021 being submitted by the Company pursuant to the requirement ofRegulation 33 of the SEBI (Listing Obligations And Disclosure Requirements) Regulations2015 as amended ("Listing Regulations") read with SEBI Circular No.CIR/CFD/CMDI/80/2019 dated July 19 2019.

In our opinion and to the best of our information and according to the explanationsgiven to us the Statement:

a) Are presented in accordance with the requirements of Regulation 33 of the ListingRegulations in this regard read with SEBI Circular No. CIR/CFD/CMDI/80/2019 dated July19 2019;

b) give a true and fair view in conformity with the recognition and measurementprinciples laid down in the applicable accounting standards and other accountingprinciples generally accepted in India of the net profit/ (loss) and other comprehensiveIncome and other financial information for the quarter and the year ended on March312021.

2. Basis for Opinion

We conducted the auditing accordance with the Standards on Auditing specified underSection 143(10) of the Companies Act 2013 ("the Act"). Our responsibilitiesunder those Standards are further described In the Auditor's Responsibilities for theAudit of the Financial Results section of our report. We are independent of the Company Inaccordance with the Code of Ethics issued by The Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial results under the provisions of the Act and the Rule thereunder and we havefulfilled our other ethical responsibilities in accordance with these requirements and theCode of Ethics. We believe that the audit evidence we have obtained is sufficient andappropriate to provide basis for our opinion.

• Identify and assess the risks of material misstatement of the standalonefinancial results 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 but not for the purposeof expressing an opinion on the effectiveness of the company's Internal control.

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

• Conclude on the appropriateness of the Board of Directors' use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial results or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the standalonefinancial results including the disclosures and whether the financial results representthe underlying transactions and events in a manner that achieves 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 compiledwith 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.

3. Emphasis of Matter

We invite attention to Note No. 24of the statement which describes the impact ofCOVID-19 a global pandemic on the operations and financial matters of the company.

Our opinion is not modified in respect of this matter.

4. Management's Responsibilities for the Standalone Financial Results

This Statement which is the responsibility of the Company's Management and approved bythe Board of Directors has been prepared on the basis of the related financial statementsof the Company. The Company's Board of Directors are responsible for the preparation andpresentation of the Financial Results that give a true and fair view of the net profit/(loss) and other comprehensive Income and other financial Information in accordance withthe recognition and measurement principles laid down In Indian Accounting Standardsprescribed under Section 133 of the Act read with relevant rules issued there under andother accounting principles generally accepted In India and in compliance with Regulation33 of the Listing Regulations. This responsibility also includes maintenance of adequateaccounting record in accordance with the provisions of the Act for safeguarding the assetsof the Company and for preventing and detecting frauds and other irregularities; selectionand application of appropriate accounting policies; making judgements and estimates thatare reasonable and prudent; and the design implementation and maintenance of adequateInternal financial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe Standalone Financial Results that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the financial results the Board of Directors are 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 unlessthe Board of Directors either intends to liquidate the Company or to cease operations orhas no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financialreporting process.

5. Auditor's Responsibilities for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the financial resultsas a whole are free from material misstatement whether due to fraud or error and toissue an auditor's report that includes our opinion. Reasonable assurance is a high levelof assurance but is not a guarantee that an audit conducted in accordance with SAs willalways detect a material misstatement when it exists. Misstatements can arise from fraudor error and are considered material if individually or in the aggregate they couldreasonably be expected to influence the economic decisions of users taken on the basis ofthese standalone financial results.

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

• Identify and assess the risks of material misstatement of the standalonefinancial results 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 but not for the purposeof expressing an opinion on the effectiveness of the company's Internal control.

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

• Conclude on the appropriateness of the Board of Directors' use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial results or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the standalonefinancial results including the disclosures and whether the financial results representthe underlying transactions and events in a manner that achieves 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 compiledwith 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.

We also performed procedures in accordance with the circular Issued by the SEBI underRegulation 33(8) of the Listing Regulations as amended to the extent applicable.

6. Other Matters

The annual financial results include the results for the quarter ended 31 March 2021being the balancing figure between the audited figures in respect of the full financialyear and the published unaudited year to date figures up to the third quarter of thecurrent financial year which were subject to limited review by us.

For RAJ ANIRUDH & ASSOCIATES
Chartered Accountants FRN. - 020497N
Date : June 28 2021

Place: New Delhi

UDIN: 21083093AAAAEU2692

Sd/- CA RAJ KUMAR PROPRIETOR Membership Number: 083093

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