Audit Working Lease

Client: Sanghar Sugar Mills Limited
Audit For The Period Ended: Sept 30, 2022

Main Head : Lease Liabilities
Head:Top Schedule
Sept-22 Sep-21
Financial Statement Captioned Ref#
Rs.''000'' Rs.''000''
LEASE LIABILITIES 33,625
Total 33,625
Job Supervisor: ___________________________ Date: ______________
Manager: ________________________________ Date: ______________

Head:Lead Schdule
2022 2021
Particulars
Rupees in '000'
Balance at the beginning of the year 101,214 97,890
Lease obtained during the year 11,014 27,349
Repayments during the year (43,400) (24,025)

68,827 101,214
Less: Current portion shown under current liabilities 35,202 41,473
33,625 59,741
Minimum Lease Present value of

Financial Charges
Payments (MLP) MLP
Description
-------------------- Rupees in 000 ---------------------
-------------------- 2020 ---------------------

Rentals due within one year 39,118 3,916 35,202
Rentals due after one year but within five years 34,834 1,209 33,625
Balance as at September 30, 2021 73,952 5,125 68,827
Minimum Lease Present value of

Financial Charges
Payments (MLP) MLP
Description
-------------------- Rupees in 000 ---------------------
-------------------- 2020 ---------------------

Rentals due within one year 48,581 7,108 41,473
Rentals due after one year but within five years 63,202 3,461 59,741
Balance as at September 30, 2020 111,783 10,569 101,214
Head:Current & Non-Current Maturity Of Financial Charges And Minimum Lease Payments
Minimum Lease
Financial Charges Present value of MLP
DESCRIPTION Payments (MLP)
-------------------- 2021 ---------------------
Orix Leasing Pakistan Limited (New -I) 30,000,000 4,765,577 168,107 4,597,470
Orix Leasing Pakistan Limited (New -II) 52,907,500 3,175,970 46,940 3,129,030
Sindh Leasing Company Limited(New -I) 9,000,000 2,071,729 142,625 1,929,104
Sindh Leasing Company Limited-II 70,000,000 14,717,054 807,488 13,909,555
Orix Leasing Pakistan Limited- Tractors 7,500,000 2,711,280 462,946 2,248,334
Orix Leasing Pakistan Limited- (Machine) 19,849,258 7,175,580 1,225,216 5,950,364
Orix Leasing Pakistan Limited- Tucson 4,208,850 1,705,740 342,165 1,363,575
Orix Leasing Altis 1.8 2,205,000 894,650 218,754 675,896
Orix Leasing Altis 1.6 2,375,000 963,615 235,622 727,993
ORIX LEASING Altis1.6 MT 2,225,000 895,800 224,727 671,073
Rentals due within one year 39,118,237 3,915,842 35,202,395
Orix Leasing Pakistan Limited (New -I) 30,000,000 - - -

Orix Leasing Pakistan Limited (New -II) 52,907,500 - - -
Sindh Leasing Company Limited(New -I) 9,000,000 171,981 1,658 170,323
Sindh Leasing Company Limited-II 70,000,000 - - -
Orix Leasing Pakistan Limited- Tractors 7,500,000 2,585,727 161,501 2,424,226
Orix Leasing Pakistan Limited- (Machine) 19,849,258 6,844,488 428,617 6,415,871
Orix Leasing Pakistan Limited- Tucson 4,208,850 1,990,030 155,165 1,834,865
Orix Leasing Altis 1.8 2,205,000 1,417,210 142,792 1,274,418
Orix Leasing Altis 1.6 2,375,000 1,526,460 154,062 1,372,398
ORIX LEASING Altis1.6 MT 2,225,000 1,567,650 165,274 1,402,376
Security Deposit
Orix Leasing Pakistan Limited (New -I) 30,000,000 1,500,000 - 1,500,000

Orix Leasing Pakistan Limited (New -II) 52,907,500 2,645,350 - 2,645,350
Sindh Leasing Company Limited(New -I) 9,000,000 1,350,000 - 1,350,000
Sindh Leasing Company Limited-II 70,000,000 10,500,000 - 10,500,000
Orix Leasing Pakistan Limited- Tractors 7,500,000 750,000 - 750,000
Orix Leasing Pakistan Limited- (Machine) 19,849,258 1,984,925 - 1,984,925
Orix Leasing Pakistan Limited- Tucson 4,208,850 - - -
Orix Leasing Altis 1.8 2,205,000 - - -
Orix Leasing Altis 1.6 2,375,000 - - -
ORIX LEASING Altis1.6 MT 2,225,000 - - -
Rentals due after one year but within five years 34,833,821 1,209,069 33,624,752
Balance as at September 30, 2021 73,952,058 5,124,911 68,827,147

Head: Break-up of Orix Lease Assets
Lease Other charges Cost

DESCRIPTION
-------------------- 2021 ---------------------
Orix Leasing Pakistan Limited- Tucson 4,208,850 2,097,066 6,305,916

Orix Leasing Altis 1.8 2,205,000 1,717,167 3,922,167
Orix Leasing Altis 1.6 2,375,000 1,184,702 3,559,702
ORIX LEASING Altis1.6 MT 2,225,000 1,067,193 3,292,193
Total 11,013,850 6,066,128 17,079,979
Other Charges includes Advance Payment,Registration & Documentation Charges.

Head: Break-up of Orix Lease Payments
Lease Payments Other Payments Total Payments

DESCRIPTION
-------------------- 2021 ---------------------
Orix Leasing Pakistan Limited- Tucson 1,010,471 2,097,066 3,107,537

Orix Leasing Altis 1.8 258,032 1,717,167 1,975,199
Orix Leasing Altis 1.6 277,913 1,184,702 1,462,615
ORIX LEASING Altis1.6 MT 154,934 1,067,193 1,222,127
Total 1,701,350 6,066,128 7,767,479
Other Payments includes Advance Payment,Registration & Documentation Charges.

CLIENT : SANGHAR SUGAR MILLS LTD
AUDIT FOR THE YEAR ENDED : SEPT 30, 2022
MAIN HEAD : LEASE LIABILITIES
SUBJECT : MOVEMENT SHEET
Security
Particulars Cost Implicit Rate % Repayment Terms Opening Additions Repayments Closing
Deposits
Amount in Rupees
Lease Liabilities Against Assets Subject To Finance Lease
Orix Leasing Pakistan Limited (New -I) 30,000,000 30,000,000 6 Months kibor + Range 48 Monthly Rentals 1,500,000 12,778,037 - (6,680,567) 6,097,470
Orix Leasing Pakistan Limited (New -II) 52,907,500 52,907,500 6 Months kibor + Range 48 Monthly Rentals 2,645,350 19,125,598 - (13,349,519) 5,776,079
Sindh Leasing Company Limited(New -I) 9,000,000 9,000,000 6 Months kibor + 4.25% 60 Monthly Rentals 1,350,000 5,019,397 - (1,576,379) 3,443,018
Sindh Leasing Company Limited-II 70,000,000 70,000,000 6 Months kibor + 4.25% 60 Monthly Rentals 10,500,000 36,941,710 - (12,517,092) 24,424,618
Orix Leasing Pakistan Limited- Tractors 7,500,000 7,500,000 6 Months kibor + 4.75% 36 Monthly Rentals 750,000 7,500,000 - (2,077,440) 5,422,560
Orix Leasing Pakistan Limited- (Machine) 19,849,258 19,849,258 6 Months kibor + 4.75% 36 Monthly Rentals 1,984,925 19,849,258 - (5,498,098) 14,351,160
Orix Leasing Pakistan Limited- Tucson 4,208,850 4,208,850 6 Months kibor + 5.5% 36 Monthly Rentals - - 6,305,916 (3,107,537) 3,198,379
Orix Leasing Altis 1.8 2,205,000 2,205,000 6 Months kibor + 5% 36 Monthly Rentals - - 3,922,167 (1,975,199) 1,946,968
Orix Leasing Altis 1.6 2,375,000 2,375,000 6 Months kibor + 5% 36 Monthly Rentals - - 3,559,702 (1,462,615) 2,097,087
ORIX LEASING Altis1.6 MT 2,225,000 2,225,000 6 Months kibor + 5% 36 Monthly Rentals - - 3,292,193 (1,222,127) 2,070,066
Sub-Total 18,730,010 101,214,000 17,079,978 (49,466,573) 68,827,405
Less: CURRENT PORTION SHOWN UNDER CURRENT LIABILITIES
Orix Leasing Pakistan Limited (New -I) 30,000,000 - - - - - - - 4,597,470
Orix Leasing Pakistan Limited (New -II) 52,907,500 - - - - - - - 3,129,029
Sindh Leasing Company Limited(New -I) 9,000,000 - - - - - - - 1,929,104
Sindh Leasing Company Limited-II 70,000,000 - - - - - - - 13,909,555
Orix Leasing Pakistan Limited- Tractors 7,500,000 - - - - - - - 2,248,334
Orix Leasing Pakistan Limited- (Machine) 19,849,258 - - - - - - - 5,950,364
Orix Leasing Pakistan Limited- Tucson 4,208,850 - - - - - - - 1,363,575
Orix Leasing Altis 1.8 2,205,000 - - - - - - - 675,896
Orix Leasing Altis 1.6 2,375,000 - - - - - - - 727,993
ORIX LEASING Altis1.6 MT 2,225,000 - - - - - - - 671,073
TOTAL - - - - - - - 33,625,012
Half Yearly Review: March 31, 2019
Subject:Liabilities against assets subject to finance lease
Unadjusted Adjustments Adjusted balance Variance

Reviewed balance
Particulars W/P Ref balance as on 31 as on 31 March
as on 30 Sep 2018
March 2019 DR CR 2019 Amount %
|----------------------------------------- Amounts in Rupees ('000) -----------------------------------------|

GL/TB TT LY TT ¢
Orix Leasing Pakistan Limited (New -I) 30,00 #NAME? #NAME? #NAME? #NAME? #NAME?
Orix Leasing Pakistan Limited (New -II) 52,9 6,097,470 6,097,470 12,778,037 (6,680,567) -52%
Sindh Leasing Company Limited(New -I) 9,0 5,776,079 5,776,079 19,125,598 (13,349,519) -70%
Orix Leasing Pakistan Limited- Tucson 4,208 3,443,018 3,443,018 5,019,397 (1,576,379) -31%
### 24,424,618 24,424,618 36,941,710 (12,517,092) -34%
#NAME? #NAME? #NAME?

T T T
Work done:
LY Amounts traced from the last years annual audited accounts
GL/TB Amounts traced from genral ledger and matched with trial balance
T/TT Casting / cross casting done
¢ Calculations checked
ѵ Reasons for variance, if any, inquired and documented
Conclusion:
On the basis of the review procedures performed, we conclude that the review objectives as set forth in the review program have been achieved
satisfactorily.
Half Yearly Review: March 31, 2019
Subject:Liabilities against assets subject to finance lease
Head : Variance Analaysis
Orix Leasing Pakistan Limited (New -I) 30,000,000

Variance
Mar-19 Sep-18
Amount %
10
9
GL/TB LY TT ¢
8
#NAME? #NAME? #NAME? #NAME?
7
Reason for Variance 6
5
4
3
Repayments are made. 2
1
-
43525 43344
Orix Leasing Pakistan Limited (New -II) 52,907,500

Variance
Mar-19 Sep-18
Amount % 12,778
14,000
GL/TB LY TT ¢
6,097 12,778 (6,681) -52% 12,000
10,000
Reason for Variance 6,097
8,000
6,000
Repayments are made. 4,000

2,000
-
Sindh Leasing Company Limited(New -I) 9,000,000

19,126
Variance
Mar-19 Sep-18
Amount % 20,000
|------------------- Amounts in Rupees ('000) -------------------|
18,000
GL/TB LY TT ¢
16,000
5,776 19,126 (13,350) -70%
14,000
12,000
Reason for Variance
10,000 5,776
8,000
6,000
Repayments are made. 4,000
2,000
-
Orix Leasing Pakistan Limited- Tucson 4,208,850

Variance
Mar-19 Sep-18
Amount %
5,019
6,000
GL/TB LY TT ¢
3,443 5,019 (1,576) -31% 5,000
3,443
3,000
2,000
Repayments are made.
1,000
#NAME? 36,942
Variance 40,000
Mar-19 Sep-18
Amount %
35,000
GL/TB LY TT ¢ 24,425
30,000
24,425 36,942 (12,517) -34%
25,000
15,000
10,000
Repayments are made.
5,000
Work done:
LY Amounts traced from the last years half yearly audited accounts
GL/TB Amounts traced from genral ledger and matched with trial balance
T/TT Casting / cross casting done
¢ Calculations checked
Conclusion: No exception noted

Review For The Period Ended: March 31, 2019
Subject : Liabilities Against Assets Subject To Finance Lease
Head:Principal Repayments Overall Control Sheet
Control Sheet Of Verification
Balance Wise
Financial Amount
Particulars % Vouched Balance Amount Amount Vouched % Vouched
Charges Vouched
Amount in Rs.
Orix Leasing Pakistan Limited-III 1,258,167 803,937 64% 7,449,893 4,280,588 57%
Orix Leasing Pakistan Limited (New -I) 2,738,880 1,404,141 51% 6,036,570 2,972,854 49%
Orix Leasing Pakistan Limited (New -II) 6,961,753 3,148,501 45% 8,197,937 7,434,824 91%
Sindh Leasing Company Limited(New -I) 691,821 455,500 66% 1,282,833 868,505 68%
Sindh Leasing Company Limited-II 5,283,362 4,153,837 79% 10,109,315 4,956,645 49%
Total 16,933,984 9,965,916 59% 33,076,547 20,513,416 62%

Head:Principal Repayments Orix Leasing III
Balance Wise
Financial Principal
Charges Amount
Rupees'
Balance Amount 1,258,167 7,449,893
Amount Verified 803,937 4,280,588
% Of Verification 64% 57%

Head:Principal Repayments Orix Leasing III
Checked / Inquired
Financial Principal
Date Voucher # Cheque # Description Total 1 2 3 4 5 6 7 8 9
Charges AmountA
5-Oct-17 BP-171800014 0001928289 Payment made to Orix Leasing Installment # 25 132,862 593,373 726,235 P P P P P P P P P
6-Nov-17 BP-171800160 1002294156 Lease on Markup Instullment NO. 26 127,858 598,377 726,235 P P P P P P P P P
6-Dec-17 BP-171800293 0001928343 Lease on Markup Instullment no. 27 122,811 603,424 726,235 P P P P P P P P P
4313900% BP-171800625 1002294262 Markup on Lease Instullment no. 29 112,930 613,525 726,455 P P P P P P P P P
6-Mar-18 BP-171800720 1002294300 Lease on Markup Instullment no.30 107,740 618,715 726,455 P P P P P P P P P
6-Apr-18 BP-171800857 0040170962 Lease on Markup Instullment No.31 102,507 623,948 726,455 P P P P P P P P P
8-May-18 BP-171800962 1002294356 Lease on Markup Instullment 32 97,229 629,226 726,455 P P P P P P P P P
Total 803,937 4,280,588 5,084,525
1) Transaction is completely recorded (every thing that should be recorded or disclosed in the financial statements has been included), 2) Recorded Transaction is Accurate (all captioned items and
financial statement disclosures have been recorded in proper amount and in proper period), 3) Transaction is occurred and exists during the year (every transactions that is recorded or disclosed in the
financial statements exists at the appropriate Dateand should be included), 4) Classification is correct, 5) Supporting documents examined and checked, 6) Checked calculation of amount, 7) Posting &
Casting are properly checked, 8) Authorisation of the supporting documents are properly placed, 9) Checked related party Transaction.
Head:Lease Amortization Schedule (ORIX LEASING) - III
Date Lease Finance Outstanding

S. No Rate Principal
& Deposit Rental Cost Principal
37 10-Oct-18 734,640 12.1300% 83,741 650,899 7,633,476

38 10-Nov-18 734,640 12.1300% 77,162 657,478 6,975,998
39 10-Dec-18 734,640 12.1300% 70,516 664,124 6,311,874
40 10-Jan-19 734,640 12.1300% 63,803 670,837 5,641,036
41 10-Feb-19 734,640 12.1300% 57,021 677,619 4,963,418
42 10-Mar-19 734,640 12.1300% 50,172 684,468 4,278,950
4,407,840 402,415 4,005,425
43 10-Apr-19 740,375 12.9700% 46,248 694,127 3,584,823

44 10-May-19 740,375 12.9700% 38,746 701,629 2,883,194
45 10-Jun-19 740,375 12.9700% 31,163 709,212 2,173,982
46 10-Jul-19 740,375 12.9700% 23,497 716,878 1,457,104
47 10-Aug-19 740,375 12.9700% 15,749 724,626 732,478
48 10-Sep-19 740,375 12.9700% 7,901 732,474 0
4,442,250 163,304 4,278,946
Deposit 1,500,000 1,500,000
Total Outstanding 5,942,250 5,778,946
Head:Principal Repayments Orix Leasing I
Balance Wise
Financial Principal
Charges Amount
Rupees'
Balance Amount 2,738,880 6,036,570
Amount Verified 1,404,141 2,972,854

Head:Principal Repayments Orix Leasing I
Checked / Inquired
Financial Principal
Charges AmountA
28-Nov-17 BP-171800257 1002294192 Markup on Lease Instullment No. 02 243,062 485,543 728,605 P P P P P P P P P
27-Dec-17 BP-171800423 1002294222 Lease on Markup Installment No. 3 238,850 489,755 728,605 P P P P P P P P P
26-Jan-18 BP-171800572 0010374505 Lease on Markup Instullmen no. 04 234,601 494,004 728,605 P P P P P P P P P
26-Feb-18 BP-171800675 0010386060 Lease on Markup Instullment no. 05 230,315 498,290 728,605 P P P P P P P P P
26-Mar-18 BP-171800804 0010386089 Markup on Lease Instullment 06 225,993 502,612 728,605 P P P P P P P P P
25-Apr-18 BP-171800925 1002294344 Lease on Markup Instullment no. 07 231,320 502,650 733,970 P P P P P P P P P
Total 1,404,141 2,972,854 4,376,995
Head:Lease Amortization Schedule (ORIX LEASING) - I
Lease Finance Outstanding

S. No Deposit & Date Rate Principal
Rental Cost Principal
- - - 30,000,000
1,500,000 - - - 28,500,000
13 31-Oct-18 759,410 13.2330% 247,715 511,695 21,951,736

14 30-Nov-18 759,410 13.2330% 242,073 517,337 21,434,398
15 31-Dec-18 759,410 13.2330% 236,368 523,042 20,911,356
16 31-Jan-19 759,410 13.2330% 230,600 528,810 20,382,546
17 28-Feb-19 759,410 13.2330% 224,769 534,641 19,847,905
18 31-Mar-19 759,410 13.2330% 218,873 540,537 19,307,368
4,556,460 1,400,397 3,156,063
19 30-Apr-19 779,035 15.3530% 247,022 532,013 18,775,354

20 31-May-19 779,035 15.3530% 240,215 538,820 18,236,534
21 30-Jun-19 779,035 15.3530% 233,321 545,714 17,690,821
22 31-Jul-19 779,035 15.3530% 226,339 552,696 17,138,125
23 31-Aug-19 779,035 15.3530% 219,268 559,767 16,578,358
24 30-Sep-19 779,035 15.3530% 212,106 566,929 16,011,429
25 31-Oct-19 779,035 15.3530% 204,853 574,182 15,437,247
26 30-Nov-19 779,035 15.3530% 197,507 581,528 14,855,719
27 31-Dec-19 779,035 15.3530% 190,067 588,968 14,266,750
28 31-Jan-20 779,035 15.3530% 182,531 596,504 13,670,246
29 29-Feb-20 779,035 15.3530% 174,899 604,136 13,066,111
30 31-Mar-20 779,035 15.3530% 167,170 611,865 12,454,246
9,348,420 2,495,298 6,853,122
31 30-Apr-20 779,035 15.3530% 159,342 619,693 11,834,553

32 31-May-20 779,035 15.3530% 151,413 627,622 11,206,931
33 30-Jun-20 779,035 15.3530% 143,383 635,652 10,571,279
34 31-Jul-20 779,035 15.3530% 135,251 643,784 9,927,495
35 31-Aug-20 779,035 15.3530% 127,014 652,021 9,275,474
36 30-Sep-20 779,035 15.3530% 118,672 660,363 8,615,111
37 31-Oct-20 779,035 15.3530% 110,223 668,812 7,946,299
38 30-Nov-20 779,035 15.3530% 101,666 677,369 7,268,930
39 31-Dec-20 779,035 15.3530% 93,000 686,035 6,582,895
40 31-Jan-21 779,035 15.3530% 84,223 694,812 5,888,083
41 28-Feb-21 779,035 15.3530% 75,333 703,702 5,184,381
42 31-Mar-21 779,035 15.3530% 66,330 712,705 4,471,676
43 30-Apr-21 779,035 15.3530% 57,211 721,824 3,749,852
44 31-May-21 779,035 15.3530% 47,976 731,059 3,018,793
45 30-Jun-21 779,035 15.3530% 38,623 740,412 2,278,381
46 31-Jul-21 779,035 15.3530% 29,150 749,885 1,528,496
47 31-Aug-21 779,035 15.3530% 19,556 759,479 769,017
48 30-Sep-21 779,035 15.3530% 9,839 769,017 0
14,022,630 1,568,205 12,454,246
Deposit 1,500,000 1,500,000
Head:Principal Repayments Orix Leasing II
Balance Wise
Financial Principal
Charges Amount
Rupees'
Balance Amount 6,961,753 8,197,937

Head:Principal Repayments Orix Leasing II
Checked / Inquired
Financial Principal
Charges AmountA
27-Dec-17 BP-171800422 1002294221 Lease on Principal Installment No. 1 462,729 1,046,916 1,509,645 P P P P P P P P P
26-Jan-18 BP-171800571 0010374504 Lease on Principal Instullment No.02 453,656 1,055,989 1,509,645 P P P P P P P P P
26-Feb-18 BP-171800674 0010386059 Principal on Lease Instullment no. 03 444,504 1,065,141 1,509,645 P P P P P P P P P
26-Mar-18 BP-171800805 0010386090 Lease on Principal Instullment No. 04 435,273 1,074,372 1,509,645 P P P P P P P P P
25-Apr-18 BP-171800924 1002294343 Lease on Principal Instullment no.05 425,962 1,083,683 1,509,645 P P P P P P P P P
29-May-18 BP-171801004 1002294366 Lease on Principal Instullment 06 416,570 1,093,075 1,509,645 P P P P P P P P P
26-Jun-18 BP-171801078 0010402108 Lease on Principal Instullment no. 07 509,807 1,015,648 1,525,455 P P P P P P P P P
Total 3,148,501 7,434,824 10,583,325

Head:Lease Amortization Schedule (ORIX LEASING) - II
Deposit & Lease Outstanding

S. No Rate Finance Cost Principal
Date Rental Principal
52,907,500
2,645,350 50,262,150
11 31-Oct-18 1,525,455 11.14% 390,496 1,134,959 40,929,254

12 30-Nov-18 1,525,455 11.14% 379,960 1,145,495 39,783,759
13 31-Dec-18 1,584,495 14.27% 473,095 1,111,400 38,672,359
14 31-Jan-19 1,584,495 14.27% 459,879 1,124,616 37,547,743
15 28-Feb-19 1,584,495 14.27% 446,505 1,137,990 36,409,753
16 31-Mar-19 1,584,495 14.27% 432,973 1,151,522 35,258,231
9,388,890 2,582,908 6,805,982
17 30-Apr-19 1,584,495 14.27% 419,279 1,165,216 34,093,015

18 31-May-19 1,584,495 14.27% 405,423 1,179,072 32,913,943
19 30-Jun-19 1,584,495 14.27% 391,402 1,193,093 31,720,850
20 31-Jul-19 1,584,495 14.27% 377,214 1,207,281 30,513,568
21 31-Aug-19 1,584,495 14.27% 362,857 1,221,638 29,291,931
22 30-Sep-19 1,584,495 14.27% 348,330 1,236,165 28,055,765
23 31-Oct-19 1,584,495 14.27% 333,630 1,250,865 26,804,900
24 30-Nov-19 1,584,495 14.27% 318,755 1,265,740 25,539,160
25 31-Dec-19 1,584,495 14.27% 303,703 1,280,792 24,258,368
26 31-Jan-20 1,584,495 14.27% 288,472 1,296,023 22,962,346
27 29-Feb-20 1,584,495 14.27% 273,061 1,311,434 21,650,911
28 31-Mar-20 1,584,495 14.27% 257,465 1,327,030 20,323,882
19,013,940 4,079,591 14,934,349
29 30-Apr-20 1,584,495 14.27% 241,685 1,342,810 18,981,072

30 31-May-20 1,584,495 14.27% 225,717 1,358,778 17,622,293
31 30-Jun-20 1,584,495 14.27% 209,558 1,374,937 16,247,357
32 31-Jul-20 1,584,495 14.27% 193,208 1,391,287 14,856,070
33 31-Aug-20 1,584,495 14.27% 176,663 1,407,832 13,448,238
34 30-Sep-20 1,584,495 14.27% 159,922 1,424,573 12,023,665
35 31-Oct-20 1,584,495 14.27% 142,981 1,441,514 10,582,152
36 30-Nov-20 1,584,495 14.27% 125,839 1,458,656 9,123,496
37 31-Dec-20 1,584,495 14.27% 108,494 1,476,001 7,647,495
38 31-Jan-21 1,584,495 14.27% 90,941 1,493,554 6,153,941
39 28-Feb-21 1,584,495 14.27% 73,181 1,511,314 4,642,627
40 31-Mar-21 1,584,495 14.27% 55,209 1,529,286 3,113,340
41 30-Apr-21 1,584,495 14.27% 37,023 1,547,472 1,565,868
42 30-May-21 1,584,495 14.27% 18,621 1,565,874 -13
22,182,930 1,859,042 20,323,888
Deposit 2,645,350 2,645,350
Head:Principal Repayments Sindh Leasing -I
Balance Wise
Financial Principal
Charges Amount
Rupees'
Balance Amount 691,821 1,282,833
Amount Verified 455,500 868,505

Head:Principal Repayments Sindh Leasing -I
Checked / Inquired
Financial Principal
Charges AmountA
1-Mar-18 BP-171800696 0010354412 Lease on Principal Installment February 2018 59,430 104,692 164,122 P P P P P P P P P
29-Mar-18 BP-171800817 0010354413 Principal on Lease Installment March 2018 57,604 106,518 164,122 P P P P P P P P P
27-Apr-18 BP-171800931 0010354414 Sind Leasing Principal Installment April 2018 56,679 107,443 164,122 P P P P P P P P P
30-Aug-18 BP-171801275 Lease on Principal Installment May 2018 57,137 108,030 165,167 P P P P P P P P P
30-Aug-18 BP-171801275 Lease on Principal Installment June 2018 57,137 108,992 166,129 P P P P P P P P P
30-Aug-18 BP-171801275 Lease on Principal Installment July 2018 57,137 109,962 167,099 P P P P P P P P P
30-Aug-18 BP-171801275 Lease on Principal Installment August 2018 57,137 110,940 168,077 P P P P P P P P P
27-Sep-18 BP-171801376 1002293937 Lease on Principal Moth of Sep.2018 53,239 111,928 165,167 P P P P P P P P P
Total 455,500 868,505 1,324,005

1) Transaction is completely recorded (every thing that should be recorded or disclosed in the financial statements has been included), 2) Recorded Transaction is Accurate (all captioned items and financial
statement disclosures have been recorded in proper amount and in proper period), 3) Transaction is occurred and exists during the year (every transactions that is recorded or disclosed in the financial statements
exists at the appropriate Dateand should be included), 4) Classification is correct, 5) Supporting documents examined and checked, 6) Checked calculation of amount, 7) Posting & Casting are properly checked, 8)
Authorization of the supporting documents are properly placed, 9) Checked related party Transaction.
Head:Lease Amortization Schedule (SIND LEASING) I
Deposit & Lease Finance Outstanding

Date Rental Cost Principal
- - - 30,000,000
1,350,000 - - - 28,650,000
7,152,832
17 26-Oct-18 165,167 10.6800% 52,243 112,924 5,757,076

18 26-Nov-18 173,822 13.8500% 66,446 107,376 5,649,700
19 26-Dec-18 173,822 13.8500% 65,207 108,615 5,541,085
20 26-Jan-19 173,822 13.8500% 63,953 109,869 5,431,216
21 26-Feb-19 173,822 13.8500% 62,685 111,137 5,320,079
22 26-Mar-19 173,822 13.8500% 61,403 112,419 5,207,660
1,034,277 371,937 662,340
23 26-Apr-19 173,822 13.8500% 60,105 113,717 5,093,943

24 26-May-19 173,822 13.8500% 58,793 115,029 4,978,914
25 26-Jun-19 173,822 13.8500% 57,465 116,357 4,862,557
26 26-Jul-19 173,822 13.8500% 56,122 117,700 4,744,857
27 26-Aug-19 173,822 13.8500% 54,764 119,058 4,625,798
28 26-Sep-19 173,822 13.8500% 53,389 120,433 4,505,366
30 26-Oct-19 173,822 13.8500% 51,999 121,823 4,383,543
31 26-Nov-19 173,822 13.8500% 50,593 123,229 4,260,314
32 26-Dec-19 173,822 13.8500% 49,171 124,651 4,135,664
33 26-Jan-20 173,822 13.8500% 47,732 126,090 4,009,574
34 26-Feb-20 173,822 13.8500% 46,277 127,545 3,882,029
35 26-Mar-20 173,822 13.8500% 44,805 129,017 3,753,012
2,085,864 631,216 1,454,648
36 26-Apr-20 173,822 13.8500% 43,316 130,506 3,622,506

37 26-May-20 173,822 13.8500% 41,810 132,012 3,490,494
38 26-Jun-20 173,822 13.8500% 40,286 133,536 3,356,958
39 26-Jul-20 173,822 13.8500% 38,745 135,077 3,221,881
40 26-Aug-20 173,822 13.8500% 37,186 136,636 3,085,245
41 26-Sep-20 173,822 13.8500% 35,609 138,213 2,947,032
42 26-Oct-20 173,822 13.8500% 34,014 139,808 2,807,223
43 26-Nov-20 173,822 13.8500% 32,400 141,422 2,665,802
44 26-Dec-20 173,822 13.8500% 30,768 143,054 2,522,747
45 26-Jan-21 173,822 13.8500% 29,117 144,705 2,378,042
46 26-Feb-21 173,822 13.8500% 27,447 146,375 2,231,667
47 26-Mar-21 173,822 13.8500% 25,757 148,065 2,083,602
48 26-Apr-21 173,822 13.8500% 24,048 149,774 1,933,828
49 26-May-21 173,822 13.8500% 22,320 151,502 1,782,326
50 26-Jun-21 173,822 13.8500% 20,571 153,251 1,629,075
51 26-Jul-21 173,822 13.8500% 18,802 155,020 1,474,055
52 26-Aug-21 173,822 13.8500% 17,013 156,809 1,317,246
53 26-Sep-21 173,822 13.8500% 15,203 158,619 1,158,627
54 26-Oct-21 173,822 13.8500% 13,372 160,450 998,178
55 26-Nov-21 173,822 13.8500% 11,521 162,301 835,876
56 26-Dec-21 173,822 13.8500% 9,647 164,175 671,702
57 26-Jan-22 173,822 13.8500% 7,753 166,069 505,632
58 26-Feb-22 173,822 13.8500% 5,836 167,986 337,646
59 26-Mar-22 173,822 13.8500% 3,897 169,925 167,721
60 26-Apr-22 173,822 13.8500% 1,936 167,721 (0)
4,345,550 588,372 3,753,013
Deposit 1,350,000 1,350,000
Head:Principal Repayments Sindh Leasing II
Balance Wise
Financial Principal
Charges Amount
Rupees'
Balance Amount 5,283,362 10,109,315

Head:Principal Repayments Sindh Leasing II
Checked / Inquired
Financial Principal
Charges AmountA
11-Oct-17 BP-171800052 0010354349 Lease on Principal installmentOctober 2017 807,590 807,590 1,615,180 P P P P P P P P P
9-Nov-17 BP-171800191 0010354350 Principal on Leasing installment of November 2017 814,589 814,589 1,629,178 P P P P P P P P P
14-Dec-17 BP-171800345 0010354351 Lease on Principal installmentDecember 2017 821,649 821,649 1,643,298 P P P P P P P P P
17-Jan-18 BP-171800526 0010354352 Principal on Lease installmentno. January 2018 828,770 828,770 1,657,540 P P P P P P P P P
20-Mar-18 BP-171800776 0010386046 Lease on Markup installmentMarch 2018 444,350 838,293 1,282,643 P P P P P P P P P
30-Apr-18 BP-171800948 0010386047 Lease on Markup installmentApril 2018 436,889 845,754 1,282,643 P P P P P P P P P
Total 4,153,837 4,956,645 9,110,482

1) Transaction is completely recorded (every thing that should be recorded or disclosed in the financial statements has been included), 2) Recorded Transaction is Accurate (all captioned
items and financial statement disclosures have been recorded in proper amount and in proper period), 3) Transaction is occurred and exists during the year (every transactions that is
recorded or disclosed in the financial statements exists at the appropriate Dateand should be included), 4) Classification is correct, 5) Supporting documents examined and checked, 6)
Checked calculation of amount, 7) Posting & Casting are properly checked, 8) Authorisation of the supporting documents are properly placed, 9) Checked related party Transaction.
Head:Lease Amortization Schedule (SIND LEASING) II
Deposit & Lease Finance Outstanding

Date Rental Cost Principal
- - - 70,000,000
10,500,000 - - - 59,500,000
13 8-Oct-18 1,317,374 12.2900% 449,867 867,507 43,057,710

14 8-Nov-18 1,317,374 12.2900% 440,983 876,391 42,181,318
15 8-Dec-18 1,317,374 12.2900% 432,007 885,367 41,295,951
16 8-Jan-19 1,317,374 12.2900% 422,939 894,435 40,401,517
17 8-Feb-19 1,317,374 12.2900% 413,779 903,595 39,497,922
18 8-Mar-19 1,371,143 15.1000% 497,016 874,127 38,623,794
7,958,013 2,656,591 5,301,422
19 8-Apr-19 1,371,143 15.1000% 486,016 885,127 37,738,667

20 8-May-19 1,371,143 15.1000% 474,878 896,265 36,842,402
21 8-Jun-19 1,371,143 15.1000% 463,600 907,543 35,934,860
22 8-Jul-19 1,371,143 15.1000% 452,180 918,963 35,015,897
23 8-Aug-19 1,371,143 15.1000% 440,617 930,526 34,085,371
24 8-Sep-19 1,371,143 15.1000% 428,908 942,235 33,143,135
32 8-Oct-19 1,371,143 15.1000% 417,051 954,092 32,189,043
33 8-Nov-19 1,371,143 15.1000% 405,045 966,098 31,222,946
34 8-Dec-19 1,371,143 15.1000% 392,889 978,254 30,244,691
35 8-Jan-20 1,371,143 15.1000% 380,579 990,564 29,254,127
36 8-Feb-20 1,371,143 15.1000% 368,114 1,003,029 28,251,099
37 8-Mar-20 1,371,143 15.1000% 355,493 1,015,650 27,235,449
16,453,716 5,065,371 11,388,345
38 8-Apr-20 1,371,143 15.1000% 342,713 1,028,430 26,207,019

39 8-May-20 1,371,143 15.1000% 329,772 1,041,371 25,165,647
40 8-Jun-20 1,371,143 15.1000% 316,668 1,054,475 24,111,172
41 8-Jul-20 1,371,143 15.1000% 303,399 1,067,744 23,043,428
42 8-Aug-20 1,371,143 15.1000% 289,963 1,081,180 21,962,248
43 8-Sep-20 1,371,143 15.1000% 276,358 1,094,785 20,867,463
44 8-Oct-20 1,371,143 15.1000% 262,582 1,108,561 19,758,903
45 8-Nov-20 1,371,143 15.1000% 248,633 1,122,510 18,636,392
46 8-Dec-20 1,371,143 15.1000% 234,508 1,136,635 17,499,757
47 8-Jan-21 1,371,143 15.1000% 220,205 1,150,938 16,348,820
48 8-Feb-21 1,371,143 15.1000% 205,723 1,165,420 15,183,399
49 8-Mar-21 1,371,143 15.1000% 191,058 1,180,085 14,003,314
50 8-Apr-21 1,371,143 15.1000% 176,208 1,194,935 12,808,379
51 8-May-21 1,371,143 15.1000% 161,172 1,209,971 11,598,409
52 8-Jun-21 1,371,143 15.1000% 145,947 1,225,196 10,373,212
53 8-Jul-21 1,371,143 15.1000% 130,530 1,240,613 9,132,599
54 8-Aug-21 1,371,143 15.1000% 114,919 1,256,224 7,876,374
55 8-Sep-21 1,371,143 15.1000% 99,111 1,272,032 6,604,342
56 8-Oct-21 1,371,143 15.1000% 83,105 1,288,038 5,316,304
57 8-Nov-21 1,371,143 15.1000% 66,897 1,304,246 4,012,058
58 8-Dec-21 1,371,143 15.1000% 50,485 1,320,658 2,691,400
59 8-Jan-22 1,371,143 15.1000% 33,867 1,337,276 1,354,124
60 8-Feb-22 1,371,143 15.1000% 17,039 1,354,104 -
31,536,289 4,300,860 27,235,429
Deposit 10,500,000 10,500,000

Audit Working Lease

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Client: Sanghar Sugar Mills Limited

Audit For The Period Ended: Sept 30, 2022

LEASE LIABILITIES 33,625

Job Supervisor: ___________________________ Date: ______________

Manager: ________________________________ Date: ______________

Balance at the beginning of the year 101,214 97,890

Lease obtained during the year 11,014 27,349

Repayments during the year (43,400) (24,025)

Minimum Lease Present value of

-------------------- 2020 ---------------------

Minimum Lease Present value of

-------------------- 2020 ---------------------

Audit For The Period Ended: Sept 30, 2022

Main Head : Lease Liabilities

-------------------- 2021 ---------------------

Rentals due within one year 39,118,237 3,915,842 35,202,395

Orix Leasing Pakistan Limited (New -I) 30,000,000 - - -

Orix Leasing Pakistan Limited (New -I) 30,000,000 1,500,000 - 1,500,000

Balance as at September 30, 2021 73,952,058 5,124,911 68,827,147

Audit For The Period Ended: Sept 30, 2022

Main Head : Lease Liabilities

Head: Break-up of Orix Lease Assets

Lease Other charges Cost

Orix Leasing Pakistan Limited- Tucson 4,208,850 2,097,066 6,305,916

Other Charges includes Advance Payment,Registration & Documentation Charges.

Audit For The Period Ended: Sept 30, 2022

Main Head : Lease Liabilities

Head: Break-up of Orix Lease Payments

Lease Payments Other Payments Total Payments

Orix Leasing Pakistan Limited- Tucson 1,010,471 2,097,066 3,107,537

Other Payments includes Advance Payment,Registration & Documentation Charges.

Lease Liabilities Against Assets Subject To Finance Lease

Sub-Total 18,730,010 101,214,000 17,079,978 (49,466,573) 68,827,405

Less: CURRENT PORTION SHOWN UNDER CURRENT LIABILITIES

Orix Leasing Pakistan Limited (New -I) 30,000,000 - - - - - - - 4,597,470

Orix Leasing Pakistan Limited (New -II) 52,907,500 - - - - - - - 3,129,029

Sindh Leasing Company Limited(New -I) 9,000,000 - - - - - - - 1,929,104

Sindh Leasing Company Limited-II 70,000,000 - - - - - - - 13,909,555

Orix Leasing Pakistan Limited- Tractors 7,500,000 - - - - - - - 2,248,334

Orix Leasing Pakistan Limited- (Machine) 19,849,258 - - - - - - - 5,950,364

Orix Leasing Pakistan Limited- Tucson 4,208,850 - - - - - - - 1,363,575

Orix Leasing Altis 1.8 2,205,000 - - - - - - - 675,896

Orix Leasing Altis 1.6 2,375,000 - - - - - - - 727,993

ORIX LEASING Altis1.6 MT 2,225,000 - - - - - - - 671,073

Unadjusted Adjustments Adjusted balance Variance

|----------------------------------------- Amounts in Rupees ('000) -----------------------------------------|

### 24,424,618 24,424,618 36,941,710 (12,517,092) -34%

#NAME? #NAME? #NAME?

Orix Leasing Pakistan Limited (New -I) 30,000,000

Orix Leasing Pakistan Limited (New -II) 52,907,500

Repayments are made. 4,000

Sindh Leasing Company Limited(New -I) 9,000,000

Orix Leasing Pakistan Limited- Tucson 4,208,850

Conclusion: No exception noted

Control Sheet Of Verification

Total 16,933,984 9,965,916 59% 33,076,547 20,513,416 62%

Control Sheet Of Verification

Balance Amount 1,258,167 7,449,893

Amount Verified 803,937 4,280,588

% Of Verification 64% 57%

8-May-18 BP-171800962 1002294356 Lease on Markup Instullment 32 97,229 629,226 726,455 P P P P P P P P P

Total 803,937 4,280,588 5,084,525

Job Supervisor: _____________ Date:

Manager: __________________ Date: