UDIN : 23053267BGZGMF8896
TO THE MEMBERS OF DHP INDIA LIMITED [CIN : L65921WB1991PLC051555]
1. Report on the Audit of the Standalone Ind AS Financial Statements :
(a) Opinion :
We have audited the accompanying Standalone Ind AS financial statements of DHP INDIA
LIMITED [CIN : L65921WB1991PLC051555] ("the Company"), which comprise the
Balance Sheet as at March 31, 2023, the Statement of Profit & Loss (including Other
Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows
for the year then ended on that date, and a Notes to the Standalone Ind AS financial
statements, including a summary of significant accounting policies and other explanatory
information.
In our opinion and to the best of our information and according to the explanation
given to us, the aforesaid Standalone Ind AS financial statements give the information
required by the Companies Act, 2013, as amended ("the Act") in the manner so
required and give a true and fair view in conformity with the Indian Accounting Standards
prescribed under section 133 of the Act read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended, ("Ind AS") and other accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2023,
its profit including other comprehensive income, its changes in equity and its cash flows
for the year ended on that date.
(b) Basis for Opinion :
We conducted our audit of the Standalone Ind AS financial statements in accordance with
the Standards on Auditing (SAs), as specified under section 143(10) of the Act. Our
responsibilities under those standards are further described in the Auditors
Responsibilities for the Audit of the Standalone Ind AS Financial Statements
section of our report. We are independent of the Company in accordance with the "Code
of Ethics" issued by the Institute of the Chartered Accountants of India (ICAI)
together with the ethical requirements that are relevant to our audit of the financial
statements under the provisions of the Act and the Rules made thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the
Code of Ethics. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the standalone Ind AS financial
statements.
(c) Key Audit Matters :
Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the standalone Ind AS financial statements for the financial
year ended March 31, 2023. These matters were addressed in the context of our audit of the
standalone Ind AS financial statements as a whole, and in forming our opinion thereon, and
we do not provide a separate opinion on these matters. As per our audit and verification
of books and records and fact finding etc. we have determined that there are no separate
key audit matters applied to this company which is communicated to the audits report. Our
audit report in unmodified and self explanatory.
2. Information other than the Standalone Ind AS Financial Statements and Auditors
Report Thereon :
The Companys Board of Director is responsible for the preparation of the other
information. The other information comprises the information included in the Boards
Report (Directors Report) including Annexures to Boards Report (Directors Report),
Corporate Governance Report, Management Discussion and Analysis, Annual Return, Report on
CSR Activities, but does not include the standalone Ind AS financial statements and our
auditors report thereon.
Our opinion on standalone Ind AS financial statements does not cover the other
information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the standalone Ind AS financial statements, our
responsibility is to read the other information and, in doing so, consider whether such
other information is materially inconsistent with the financial statements or our
knowledge in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have
nothing to report in this regard.
3. Responsibilities of Management for the Standalone Ind AS Financial Statements:
The Companys Board of Directors is responsible for the matters stated in Section
134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of
these Standalone Ind AS financial statements that give a true and fair view of the
financial position, financial performance, including other comprehensive income, changes
in equity and cash flows of the Company in accordance with the accounting principles
generally accepted in India including the Indian Accounting Standards (Ind AS) specified
under section 133 of the Act read with the Companies (India Accounting Standards) Rules,
2015, as amended. This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding of the assets of the
Company and for preventing and detecting frauds and other irregularities; selection and
application of appropriate accounting policies; making judgments and estimates that are
reasonable and prudent; and design, implementation and maintenance of adequate internal
financial controls, that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of
the Standalone Ind AS financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
In preparing the standalone Ind AS financial statements, management is responsible for
assessing the Companies ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Companys financial
reporting process.
4. Auditors Responsibility for the Audit of the Standalone Ind AS Financial Statements
:
Our objectives are to obtain reasonable assurance about whether the Standalone Ind
AS financial statements as a whole are free from material misstatements, whether due
to fraud or error, and to issue an auditors report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material misstatement when it exits.
Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions
of users taken on the basis of this standalone Ind AS financial statements.
As a part of an audit in accordance with SAs, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also : -
• Identify an assess the risk of material misstatement of the standalone Ind AS
financial statements, whether due to fraud or error, design and perform audit procedures
responsive to those risk, and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal
control.
• Obtain and understanding of internal financial controls relevant to the audit in
order to design audit procedures that are appropriate in the circumstances. Under section
143(3)(i) of the Act, we also responsible for expressing our opinion on whether the
Company has adequate internal financial controls with reference to financial statements in
place the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness
of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of managements use of the going concern basis
of accounting and, based on the audit evidence obtained, whether a material uncertainty
exist related to events or conditions that may cast significant doubt on the Companies
ability to continue as a going concern. If we conclude that a material uncertainty exist,
we are required to draw attention in our auditors report to the related disclosures in
the financial statements or, if such disclosures are inadequate, to modify our opinion.
Our conclusion are based on the audit evidence obtained up to the date of our auditors
report. However, future events or conditions may cause the Company to cease to continue as
a going concern.
• Evaluate the overall presentation, structure and content of the standalone Ind
AS financial statements, including the disclosures, and whether the standalone Ind AS
financial statements represents the underlying transactions and events in a manner that
achieves fair presentation.
Materiality is the magnitude of misstatements in the standalone financial statements
that, individually or in aggregate, makes its probable that the economic decisions of a
reasonably knowledgeable user of the financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope of our audit
work and in evaluating the results of our work; and (ii) to evaluate the effect of any
identified misstatements in the financial statements.
We communicate with those charge with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit finding, including any
significant deficiencies in internal control that we identify during our audit.
We also provide those charge with governance with a statement that we have compiled
with relevant ethical requirements regarding independence, and to communicate with them
all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with those charge with governance, we determined those
matters that were of most significance in the audit of the standalone Ind AS financial
statements for the financial year ended March 31, 2023 and are therefore no specific key
audit matters. We described this matters in our auditors report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare circumstances, we
determined that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.
5. Report on Other Legal and Regulatory Requirements :
5.1 As required by Section 143(3) of the Act, based on our audit we report:
(a) We have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purpose of our audit;
(b) In our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books;
5. Report on Other Legal and Regulatory Requirements :
5.1 As required by Section 143(3) of the Act, based on our audit we report:
(c) The Balance Sheet, the Statement of Profit and Loss including Statement
of Other Comprehensive Income, the Statement of Changes in Equity and the Statement
of Cash Flow dealt with by this Report are in agreement with the relevant books of
account;
(d) In our opinion, the aforesaid Standalone Ind AS financial statements comply
with the Accounting Standards specified under Section 133 of the Act, read with Companies
(Indian Accounting Standards) Rule, 2015, as amended;
(e) On the basis of the written representations received from the directors, as on
March 31, 2023, taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 2023 from being appointed as a directors in terms of Section
164(2) of the Act;
(f) With respect to the adequacy of the internal financial controls over financial
reporting of the Company with reference to these standalone lnd AS financial statements
and the operating effectiveness of such controls, refer to our separate Report in "ANNEXURE
- A" to this report. Our report expresses and unmodified opinion on the
adequacy and operating effectiveness of the Companys internal financial controls over
financial reporting;
(g) With respect to the other matters to be included in the Auditors Report in
accordance with requirement of section 197(16) of the Act, as amended in our opinion and
to the best of our information and according to the explanations given to us, the
remuneration paid by the Company to its directors during the year is in accordance with
the provisions of section 197 of the Act;
(h) With respect to the other matters to be included in the Auditors Report in
accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended in
our opinion and to the best of our information and according to the explanations given to
us :
(i) The Company does not have any pending litigations which impact its financial
position in its Standalone Ind AS financial statements;
(ii) The Company has made provision, as required under the applicable law or accounting
standards, for material foreseeable losses, if any, on long-term contracts including
derivative contracts- Refer Note No. 28.2 to the Standalone Ind AS financial
statements;
(iii) There has been no delay in transferring amounts, required to be transferred, to
the Investor Education and Protection Fund by the Company.
(iv) (a) The Management has represented that, to the best of its knowledge and belief,
no funds
(which are material either individually or in the aggregate) have been advanced or
loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the Company to or in any other person or entity, including foreign
entity ("Intermediaries"), with the understanding, whether recorded in writing
or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest
in other persons or entities identified in any manner whatsoever by or on behalf of the
Company ("Ultimate Beneficiaries") or provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries;
(b) The Management has represented, that, to the best of its knowledge and belief, no
funds (which are material either individually or in the aggregate) have been received by
the Company from any person or entity, including foreign entity ("Funding
Parties"), with the understanding, whether recorded in writing or otherwise, that the
Company shall, whether, directly or indirectly, lend or invest in other persons or
entities identified in any manner whatsoever by or on behalf of the funding party
("Ultimate Beneficiaries") or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries;
5. Report on Other Legal and Regulatory Requirements :
5.1 As required by Section 143(3) of the Act, based on our audit we report:
(iv) (c) Based on the audit procedures that have been considered reasonable and
appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that the
representations under sub-clause (i) and (ii) of Rule 11 (e), as provided under (a) and
(b) above, contain any material misstatement.
(v) . As stated in Note 28.11 to the standalone Ind AS financial statements
(a) The final dividend proposed in the previous year, declared and paid by the Company
during the year is in accordance with Section 123 of the Act, as applicable;
(b) No interim dividend was declared by the Company during the year and until the date
of this report is in compliance with Section 123 of the Act;
(c) The Board of Directors of the Company have proposed final dividend for the year
which is subject to the approval of the members at the ensuing Annual General Meeting. The
amount of dividend proposed is in accordance with Section 123 of the Act, as applicable.
5.2 As required by the Companies (Auditors Report) Order, 2016 (‘the
Order"), as amended, issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the "ANNEXURE- B", a
statement on the matters specified in paragraph 3 and 4 of the said Order.
8, Camac Street |
For NAVIN NAYAR & COMPANY |
Kolkata - 700 017 |
|
The 30th day of May, 2023 |
Firm Registration No. 317117E Chartered Accountants |
|
SD/- |
|
NAVIN NAYAR Proprietor |
UDIN: 23053267BGZGMF8896 |
Membership No. 053267 |
"ANNEXURE - A" TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE ON THE
STANDALONE IND AS FINANCIAL STATEMENTS OF DHP INDIA LIMITED UDIN ; 23053267BGZGMF8896
Report on the Internal Financial Control under Clause (D of Sub-section 3 of Section
143 of the Companies Act, 2013 ("the Act") - Referred to in paragraph 5.1(f) of
our report of even date to the Standalone Ind AS financial statements of the Company for
the year ended March 31, 2023 :
We have audited the internal financial controls over financial reporting of DHP INDIA
LIMITED :CIN : L65921WB1991PLC051555] ("the Company"), as of March 31, 2023, in
conjunction with our audit of the Standalone Ind AS financial statements of the Company
for the year ended on that date.
Managements Responsibility for Internal Financial Controls
The Board of Directors of the Company is responsible for establishing and maintaining
internal financial controls based on the internal control over financial reporting
criteria established by the Company considering the essential components of internal
control stated in the guidance note on Audit of Internal Financial Controls Over financial
Reporting issued by the Institute of Chartered Accountants of India. These
responsibilities includes the design, implementation and maintenance of adequate internal
financial controls that were operating effectively for ensuring the orderly and efficient
conduct of its business, including adherence to respective Companys policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of
reliable financial information, as required under the Companies Act, 2013.
Auditors Responsibility
Our responsibility is to express an opinion on the internal financial controls over
financial reporting of the Company based on our audit. We conducted our audit in
accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants
of India and the Standards on Auditing prescribed under section 143(10) of the Companies
Act, 2013, to the extent applicable to an audit of internal financial controls. Those
Standards and the Guidance Note require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether adequate internal
financial controls over financial reporting was established and maintained and if such
controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of
the internal financial controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design
and operating effectiveness of internal control based on the assessed risk. The procedures
selected depend on the auditors judgement, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the internal financial controls system over
financial reporting of the Company.
Meaning of Internal Financial Controls Over Financial Reporting
A companys internal financial control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A companys internal financial control over financial
reporting includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance with authorisations of
management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition, use, or disposition of the
companys 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 financial
reporting, including the possibility of collusion or improper management override of
controls, material misstatements due to error or fraud may occur and not be detected.
Also, projections of any evaluation of the internal financial controls over financial
reporting to future periods are subject to the risk that the internal financial control
over financial reporting may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, to the based of our information and according to the explanations given
to us, the Company has, in all material respects, an adequate internal financial controls
system over financial reporting and such internal financial controls over financial
reporting were operating effectively as at March 31, 2023, based on the internal control
over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of Chartered Accountants of
India.
8, Camac Street |
For NAVIN NAYAR & COMPANY |
Kolkata - 700 017 |
|
The 30th day of May, 2023 |
Firm Registration No. 317117E Chartered Accountants |
|
SD/- |
|
NAVIN NAYAR |
|
Proprietor |
UDIN: 23053267BGZGMF8896 |
Membership No. 053267 |
"ANNEXURE - B" TO THE INDEPENDENT AUDITORS REPORT UDIN ; 23053267BGZGMF8896
Referred to in paragraph 5.2 under the heading of "Report on Other Legal and
Regulatory Requirements" of our report of even date to the Standalone Ind AS
financial statements of the Company for the year ended March 31, 2023 :
To the best of our information and according to the explanations provided to us by the
Company and the books of account and records examined by us in the course of audit, we
state that:
1. In respect of the Companys - Property, Plant and Equipment i.e. Fixed Assets :
(a) The Company has maintained proper records showing full particulars, including
quantitative details and situation of Fixed Assets. At present the Companys have no
Intangible Assets.
(b) The Company has a program of physical verification of Property, Plant and Equipment
so to cover all the assets once every three years which, in our opinion, is reasonable
having regard to the size of the Company and the nature of its assets. Pursuant to the
program, certain Property, Plant and Equipment were due for verification during the year
and were physically verified by the Management during the year. According to the
information and explanation given to us, no material discrepancies were noticed on such
verification.
(c) According to the information and explanations given to us the records examined by
us and based on examination of the conveyance deeds/registered sale deeds provided to us,
we report that the title deeds, comprising all the immovable properties of land and
buildings which are freehold, are held in the name of the Company as at the Balance Sheet
date.
(d) The Company has not revalued any of its Property, Plant and Equipment during the
year.
(e) According to information and explanations given to us, no proceedings have been
initiated during the year or are pending against the Company as at March 31, 2023 for
holding any benami property under the Benami Transactions (Prohibitions) Act, 1988 (as
amended in 2016) and rules made thereunder.
2. In respect of its Inventories :
(a) As per the information obtained by us, the inventories have been physically
verified by the management at reasonable intervals and no discrepancies of 10% or more in
aggregate for each class of inventory were noticed on such physical verification.
(b) The Company has been sanctioned a working capital limits of Rupees Seven Crores
from Citibank N.A. Kolkata, on the basis of security of current assets. Further, the
monthly stock statements as required by Citibank, N.A. Kolkata is filed by the Company are
in agreement with the books of accounts.
(c) The discrepancies noticed on physical verification of the inventory as compared to
books records which has been properly dealt with in the books of account were not
material.
3. The Company has not made any investments and also not granted any loans, secured or
unsecured,to the companies, firms or other Limited Liability Partnerships or other parties
covered in the Register maintained under Section 189 of the Act. Accordingly, the
provisions of clause 3 (iii) (a) to
(c) of the Order are not applicable to the Company and hence not commented upon.
4. In our opinion and according to the information and explanations given to us, the
Company has complied with the provisions of section 185 and 186 of the Companies Act,
2013, in respect of loans, investments, guarantees and security.
5. The Company has not accepted any deposits from public and hence the directives
issued by the Reserve Bank of India and the provisions of Section 73 to 76 or any other
relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with
regard to the deposits accepted from public are not applicable.
6. We have broadly reviewed the cost records maintained by the Company pursuant to
Companies (Cost Records and Audit) Rules, 2014 read with Companies (Cost Records and
Audit) Amendment Rules, 2014 prescribed by the Central Government under Section 148 of the
Companies Act, 2013 and are of the opinion that, prima facie, the prescribed cost records
have been maintained. We have, however not made a detailed examination of the cost records
with a view to determine whether they are accurate or complete.
7. In respect of statutory dues :
(a) In our opinion, the Company has generally been regular in depositing with
appropriate authorities undisputed statutory dues including Provident Fund, Employees
State Insurance, Income-Tax, Duty of Customs, Goods & Service Taxes (IGST/CGST/SGST)
and any other statutory dues applicable to it.
(b) According to the information and explanations given to us, no undisputed amounts
payable in respect of Provident Fund, Employees State Insurance, Income-Tax, Duty of
Customs, Goods & Service Taxes (IGST/CGST/SGST) and any other statutory dues were
outstanding at the year ended as at March 31, 2023 for a period of more than six months
from the date on when they become payable.
(c) According to the information and explanations given to us, and on the basis of the
documents and records, there are no disputed statutory dues, which have not been
deposited.
8. There were no transactions that have been surrender or disclosed as income during
the year in the tax assessment under the Income Tax Act, 1961 (43 of 1961). Hence comment
on paragraph 3(viii) of the said Order is not applicable.
9. (a) As per the information and explanations given to us and on the basis of our
examination of records of the
Company, the Company has not defaulted in repayment of loans or other borrowings or in
the payment of interest thereon to any lender. Hence comment on paragraph 3(ix) of the
said Order is not applicable.
(b) The Company has not been declared willful defaulter by any bank or financial
institution or any other lender.
(c) The Company has not taken any term loan during the year and there are no
outstanding term loans at the beginning of the year and hence, reporting under clause
3(ix)(c) of the said Order is not applicable.
(d) On an overall examination of the financial statements of the Company, funds raised
on short-term basis have not been used during the year for long-term purposes by the
Company.
(e) On and overall examination of the financial statements of the Company, the Company
has not taken any funds from any entity or person on account of or to meet the obligations
of its subsidiaries, associates or joint ventures.
(f) The Company has not raised any loan during the year on the pledged of securities
held in its subsidiaries, joint ventures or associates companies, hence reporting on
clause 3(ix)(f) of the said Order is not applicable.
10. (a)According to the information and explanations given to us, the Company has not
raised any money by way of initial public offer or further public offer (including
debt instruments) during the year. Hence comment on clause 3(x)(a) of the said Order is
not applicable.
(b) According to the information and explanations given to us and based on our
examination of the records of the Company, the Company has not made any preferential
allotment or private placement of shares or convertible debentures (fully, partially or
optionally convertible) during the year. Hence comment on clause 3(x)(b) of the said Order
is not applicable.
11. (a)According to the information and explanations given to us, no fraud by the
Company and no fraud on the Company has been noticed or reported during the year.
(b) No report under sub-section (12) of section 143 of the Companies Act has been filed
in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014
with the Central Government, during the year.
(c) As per Section 177(9) of the Companies Act, 2013, establishment of vigil mechanism
is not mandatory for the company, therefore comment on clause 3(xi)(c) of the said Order
is not applicable.
12. In our opinion and according to the information and explanations given to us, the
Company is not a Niddhi Company. Hence comment on clause 3(xii)(a), (b) & (c) of the
said Order are not applicable.
13. In our opinion, all transactions with the related parties are in compliance with
section 177 and 188 of the Companies Act, 2013 and the details have been disclosed in the
Financial Statements as required by the applicable accounting standards.
14. (a) In our opinion the Company has an adequate internal audit system commensurate
with the size and the nature of its business.
(b) We have considered, the internal audit reports for the period under audit.
15. According to the information and explanation provided by the management, the
Company has not entered into any non-cash transactions with directors or persons connected
with them as referred in section 192 of the Companies Act, 2013.
16. (a) In our opinion the Company is not required to be registered under Section 45-IA
of the Reserve bank of
India Act, 1934 and accordingly, the provisions of clause 3(xvi)(a), (b) & (c) of
the said Order are not applicable.
(b) In our opinion, there is no Core Investment Company within the group (as defined in
Core Investment Companies (Reserve Bank) Directions, 2016) and accordingly, reporting
under clause 3(xvi)(d) of the said Order is not applicable.
17. Based upon the audit procedures performed and according to the information and
explanation given to us, the Company has not incurred any cash losses in the financial
year covered by our audit and in the immediately preceding financial year.
18. There has been no resignation of the statutory auditors of the Company during the
year. Hence, comments on clause 3(xviii) of the said Order is not applicable.
19. According to the information and explanation given to us and on the basis of the
financial ratios, ageing and expected dates of realization of financial assets and payment
of financial liabilities, other information accompanying the financial statements and our
knowledge of the Board of Directors and management plans and based on our examination of
the evidence supporting the assumptions, we are of the opinion that no material
uncertainty exist as on the date of audit report that the company is not capable of
meeting its liabilities existing at the date of balance sheet as an when they fall due
within a period of one year from the balance sheet date. We further state that our
reporting is based on the facts up to the date of the audit report and we neither give any
guarantee nor any assurance that all liabilities falling due within a period of one year
from the balance sheet date, will gate discharged by the company as and when they fall
due.
20. The company is contributing Corporate Social Responsibility (CSR) liability of this
financial year by way of Donation made to "Prime Ministers National Relief Fund"
as per Section 135 of the Companies Act, 2013 read with Schedule VII [Note 24]. There are
no unspent amounts towards CSR is pending or required to be transfer in special account
during the year. Hence, comments on clause 3(xx)(a) and (b) of the said Order is not
applicable.
21. The Company does not have any subsidiary or associate company hence the said clause
in not applicable.
8, Camac Street Kolkata - 700 017 |
For NAVIN NAYAR & COMPANY |
The 30th day of May, 2023 |
Firm Registration No. 317117E Chartered Accountants |
UDIN: 23053267BGZGMF8896 |
SD/- NAVIN NAYAR Proprietor Membership No.
053267 |
+91-9892691696
