TO THE MEMBERS OF ANJANI FINANCE LIMITED
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
OPINION
We have audited the accompanying financial statements of ANJANI FINANCE LIMITED ("the Company"), which comprise the Balance Sheet as at March 31, 2025, the
Statement of Profit and Loss (including Other Comprehensive lncome), the Statement of in Equity and the Statement of Cash Flows for the year then ended and notes to
Changes the Frnancial statements including a summary of significant accounting policies and other explanatory information (hereinafter referred to as "Financial statements"). opinion and to the best of our information and according to the explanations given ln our to us, the aforesaid Financial statements give the information required by the Companies
Act,2013 ("the Act") in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in lndia including the lndian
Accounting Standards ("lnd AS"), of the state of affarrs of the Company as at March 31, total comprehensive income, changes in equity and tts cash flows for the year 2025, its ended on that date.
BASIS FOR OPINION
We conducted our audit in accordance with Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditors Responsrbilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of issued by the lnstitute of Chartered Accountants of lndia ("lCAl") together with Ethics the ethical requirements that are relevant to our audit of the Financial Statements under the provisions of the Act and Rules there under and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We that the audit evidence we have obtained is sufficient and approprlate to provide believe a basis for our oPinion.
KEY AUDIT MATTERS
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinron thereon, and we do not provide a separate opinion on these matters. We have determined no key audit matters to be reported.
INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS REPORT
THEREON
The Companys board of clirectors rs responsrble for the preparation of the other informatiorr. The ottrer information c-ornprises lhe irrforrnation included in Boards Report inclucling Annexure to Boards Report anri r-nanaqement con-rpliance certificate but does not include the Financial Statenrents and or.rr auditot"s repor4flJ&lft-\... our opinrorr on the Firrancral staternents c.locs not JSn fi;)*rl\tion and we do
cii cover $6"K
,oi **pt*t,)reSS arlyuny form offornt of ASSlrl.jl(assLlrailce()(or)ir,.scon<-luslr-:it :li1rltl1 ili\At6}*dfr$,f ;
lhereori
ii}\^ i; our resporrsibility is to read the ln corrnection wrtlr our auclit of tlre Financi;.]l 5t-;:t-erneni,s, whelher the other rnforrnatiorr is rnaterially other informatior-: ancl , irr clornq so, c-onstcjer or oLlr knowlerige oblained during lhe course inconsistent with the Firrancial stater-nenls audit or otherwise appears to be rraterially rnisstaleci. of our the work we have perforrneci, we cotrclucje [hat there is a nraterial lf, based on information; we are required to report ttrat fact We have misstatement of this ottrer nothing to rePort in this regard.THE RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR FINANCIAL STATEMENTS is responsible for_the matters stated in sectton 134(5) The companys Board of Directors preparation of these Financial statements that give a true of the Act with respect to the fair view of the frnancial position, financial performance including other and
in equity and cash flows of the Company in accordance comprehensive income, changes with the accounting principles q"n"rutty accepted in lndia, including lnd AS specified
0f the Act, read with relevant rules issued there under This under section 133 maintenance of adequate accounting records in accordance responsibilrty also includes of the assets of the Company and for with the provisions of the Act for safeguarding frauds and Jtf,",. iriegularities; selection and application of preventing and detecting appropriatu u..ounting p1oti.i"t; making iudgments and estimates that are reasonable and maintenance of adequate internal financial and prudent; and design, implementatio"n for ensuring the accuracy and completeness of controls, that were optrating effectively relevant to the preparation and presentation of the Financial the accounttng records, give atrue and fair view and are free from material misstatement statements that whether due to fraud or error. management is responsible for assessing the ln preparrng the frnancial statements, to as a going concern, disclosing, as applicable matters bo.punyt initity continue and using thJ going concern basis of accounttng unless related to going concern to liquidJte the Company or to cease operations or has no management either intends realistic alternative but to do so. also responsible for overseeing the Companys financial
Those Board of Directors are reporting Process.
AUDIToR,S RESPONSIBILITIES FoR THE AUDIT oF THE FINANCIAL STATEMENTS
are to obtain reasonable assurance about whether the financial
Our objectives free from material misstatement, whether due to fraud or statements as a whole are report that includes our opinlon. Reasonable assurance is error, and to issue an auditors but ls not a guarantee that an audit conducted in accordance a high level of assurance a material misstatement when it exists Mrsstatements can with sAs will always detect are considered material if, individually or in the aggregate arise from fraud oi error and to influence the economic decisions of users taken on they could reasonably be expected the basis of these financial statements with SAs, we exercise professional judgment and As part of an audit in accordance maintainprofessionalskepticismthroughouttheaudit.Wealso: for our opinion. The risk of not detecting a material misstatement resulttng a basis
from fraud is higher than for one resulting from error, as fraud may involve forgery-, intentional omissions, misrepresentations, or the override of collusion, internal control.
. of internal control relevant to the audit in orderto design Obtarn an understanding procedures that aie appropriate in the circumstances. Under section 143(3) audit (i) we are also responsible for expressing our opinion on whether the of the Act, has adequate internal financial controls with reference to financial company statements in place and the operating effectiveness of such controls.
. the appropriateness of accounting policies used and the reasonableness Evaluate of accounting estimates and related disclosures made by management . onlhe appropriateness of managements use of the going concern basis Conclude and, based on the audit evidence obtarned, whether a material of accounting erists related to events or conditions that may cast significant doubt uncertainty on the Companys ability to continue as a going concern. lf we conclude that a uncertiinty exiits, we are required to draw attentron in our auditors material report to the related disclosures in the financial statements or, if such disclosures to modify our opinion. Our conclusions are based on the audit are rnadequate, obtained up to [he date of our auditors report. However, future events evidence may cause the Company to cease to continue as a going concern or conditions
. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements the underlying transactions and events in a manner that achieves fair represent presentation.
with those chargeci with governance regarding, among other matters We communicate planned and tinrrnq of tlre audit ancl srgnificant auciil findings, including any the scope deficiencies in inlernal cerr:trol lhat we idenlrfy durinq our audit. significant
provrde those chargecl with r;overilance wiih a staternertl that we have corlpiied
We also ethical requiiernents ree;arding rnciellendenc.e, ancl to cotl.]mut-ticale wrth with relevant olher rratters lirat nray reasonably i;e tlroughl lo bear on our them all relationships ancl independence, ancl where applicable, relateci safegLrards the matters cornmurricatecl witlr those charged with gover"nance, we determine
From that were of most significance in the audil of the Financial Statements of those matters the year and are therefore tne tey ar.rdit matters. We describe these matters in cr.rrrent law or regulatiorr precludes public disclosure about the matler our auditors report urrless in rare circurnitances, we cjeternrine that a matter should not be or when, extremely in oui report because the adverse consequences of doing so would communicated reasonably be expected to outweigh the public interest benefits of such commurrication.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
required by the Companies (Auditors Report) Order,2O20 ("the Order") issued
1. As
the Central Government of lndia in terms of sub-section (11) of section 143 of by we grve in the "Annexure A", a statement on the matters specified in the the Act, paragraph 3 and 4 of the Order, to the extent applicable by Section 143 (3) of the Act, based on our audit, we report that:
2, As required a) We have sought and obtained all the information and explanations which ief were necessary for the purposes of to the best of our knowledge a our audit.
b) ln 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. c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive lncome, Statement of Changes in Equity and the Cash Flow
Statement dealt with by this report are in agreement with the books of
accou nt.
d) ln our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014. e) On the basis of the written representations received from the directors as on 31t March, 2025, taken on record by the Board of Directors, none of the directors is disqualified as on 31t March, 2025 from being appointed as a director 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 and the operating effectiveness of such controls, refer to our separate Report in "Annexure B". Our report expresses an 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 the requirements of section 197(16) of the Act, aS amendedln our opinion and to the best of our information and accordrng to the explanations grven 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, in our opinion and to the best of our information and according to the explanations given to us: i. The Company has disclosed the rmpact of pending litigations as at 3lt March 2025 on its financial position rn its financial statements -
Refer Note 19 (3) to the Financial statements.
ii. The Company did not have any long-term contracts including clerivative contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the lnvestor Education and Protection Fund by the Company during the year ended 31t March 2025.
(i) The management has represented that, to the best of its knowledge and belief, ot n as disclosed in the notes to the accounts, no funds h vanced or loa ned or invested
(either from borrow premrum or any other sources or kind of funds) by the company to or in any other person(s) or entity(ies), including foreign entities ("lntermediaries"), with the understanding, whether recorded in writing or otherwise, that the lntermediary 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 (if any);
(ii) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person(s) or entity(ies), including foreign entities ("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 (if any); and
(iii) Based on such audit procedures that we (the auditors of the company) have 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) contain any material misstatements.
v. The Company has not declared or paid any dividend during the
yea r.
vi. The company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has been operated throughout the year for all transactions recorded in the software and the audit trail feature has not been tampered with and the audit trail has been preserved by the company as per the statutory requirements for record retention.
STATUTORY AUDITORS
FOR MAHENDRA BADJATYA & CO CHARTERED ACCOUNT
lReferred to in paragraph 1 underReport on Other Legal and Regulatory Requirements in the lndependent Auditors Report of even date to the members of ANJANI FINANCE LIMITED on the financial statements for the year ended 31t March 20251
The Annexure required under CARO, 2020 referred to in our Report to the members of the Anjani Finance Limited ("the Company") for the year ended 31t March 2025, and according to information and explanations given to us, we report as under:
i a) (A) The company has maintained reasonable records showing full particulars, including quantitative details and situation of Property, Plant and Equipment.
(B) The company does not have any intangible assets. Accordingly, the provtsions of clause 3(i)(a)(B) of the Order is not applicable. b) These Property, Plant and Equipment have been physically verified by the management at reasonable intervals and as informed, no material discrepancies were noticed on such verification. ln our oprnion, the frequency of verification is reasonable having regard to the size of the Company and the nature of its assets. c) The company does not have any immovable property. Accordingly, the provisions of clause 3(i)(c) of the Order are not applicable. d) The company has not revalued rts Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year. Accordingly, the Provision of Clause 3(i)(d) of the order is not applicable to the company.
e) The company does not have any benami property under the Benami
Transactions (Prohibition) Act, 19BB (45 of 19BB) and rules made there under.
Accordingly, the provisions of clause 3(i)(e) of the Order is not applicable.
ii. (a)The nature of the companys business is such that it rs not required to hold any inventories. Accordingly, the provision of Clause 3(ii) of the order is not applicable to the company.
(b) During any point of time of the year, the company has not been sanctioned any working capital limits, from banks or financial institutions on the basis of security of current assets. Since the company has not been sanctioned any working capital limits, there is no requirement to file the quarterly returns or statements with such banks or financial institutions. Accordingly, the provisions of clause 3(ii) (b) of the order rs not applicable.
iii. During the year the company has not made investments in, provided any guarantee or security but has granted loans or advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties, and,
a) During the year the company has provided loans or provided advances in the nature of loans but has not stood guarantee or provided security to any other entity during the year under review. The principal business of the company is to give loans. Accordingly, the provisions of clause 3(iii)(a) (A) and (B) of the Order is not applicable. b) The investments made, and the terms and conditions of the grant of all loans and advances in the nature of loans and guarantees provided are not prejudicial to the companys interest. The company has not provided any guarantees, security given. c) ln respect of loans and advances in the nature of loans, the schedule of repayment of principal and payment of interest has been stipulated and the repayment of such loans is received on the basis of mutual understanding. d) There is no amount overdue for more than ninety days with respect to the loans given. e) That the company has loans or advances in the nature of loans granted which has fallen due dunng the year renewed or extended or fresh loans granted to settle the overdu{.3, given to the same Partres and
li.$;t the aggregate amount of such dues renewed or extended or settled by fresh loans and the percentage of fhe aggregate to the total loans or advances in the nature of loans granted during the year, but the principal business of the company is to give loans. Accordingly, the provisions of clause 3(iii)(e) of the Order is not applicable. f) That the company has granted loans or advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment to Promoters, related parties as defined in clause (76) of section 2 of the Companies Act, 2013, detailed as under: -
Meena Devi Agarwal | |
(< | |
Relationship with the party | Related Pa rty |
Aggregate amount | 732143.51 |
Balance outstanding | |
ls there any written agreement | |
lnterest rate | |
Total amount overdue for more than 90 days | |
Amount of fresh loans extended durinq year to | |
settle old loans | |
Amount of loan renewed during the year | |
%o share of loan/ advances in total loan/ | 000%i |
advances granted |
The company is a registered Non-Banking Financial company (NBFC) and has provided loans in its ordinary course of business and in respect of such loans the interest rs charged over and above the bank rate declared by Reserve Bank of lndia (RBl). Accordingly, the provisions of section 185 of the Companies Act 2013 are complied with. The provisions of section 186 of the Companies Act 2013 are not applicable to the company.
ln our opinion, the Company has not accepted any deposits within the meaning of Sections 73 to 76 of the Act and the Companies (Acceptance of Deposits) Rules, 2014 (as amended). Accordlngly, the provisions of clause 3(v) of the Order are not a pplica ble.
Since the company is a registered NBFC company and is carrying on the business of financial services therefore the requirement of maintenance of cost records under sub section (1) of section 148 of the Companies Act 2013. Accordinqly, the provisions of clause 3(vi) of the Order is not applicable.
vil. a. The company is regular in depositing undisputed statutory dues including
Goods and Services Tax, provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues to the appropriate authorities. Further, no undisputed amounts payable in respect thereof were outstanding at the year-end for a period of more than six months from ey become payable. b. There are no dues of lncome Tax which have not been deposited by the Company on account of disputes.
viii.There were no transactions, not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the lncome Tax Act, 1961 (43 of 1961). Accordingly, the provisions of clause 3(viii) of the Order is not applicable.
IX a)The Company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lender. Accordingly, the provisions of clause 3(ix)(a) of the Order is not applicable. b) The company is not declared a willful defaulter by any bank or financial institution or other lender. Accordingly, the provisions of clause 3(ix)(b) of the Order are not applicable. c) The company has not taken any term loans. Accordingly, the provisions of clause 3(ix)(c) of the Order are not applicable. d) The company has not raised any funds on short term basis which have been utilized for long-term purposes. Accordingly, the provisions of clause 3(ix)(d) of the Order are not applicable. e) 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, as it has none. Accordingly, the provisions of clause 3(ix)(e) of the Order are not
a pplica ble. f) The company has not raised Ioans during the year on the pledge of securities held in its subsidiaries, joint ventures, or associate companies, as it has none.
Accordrngly, the provisions of clause 3(ix)(f) of the Order are not applicable.
a) The Company did not raise moneys by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, the provisions of clause 3(x)(a) of the Order are not applicable. b) The Company has not made any preferential allotment or private placement of shares or convertible debentures (fully, partially, or optionally convertible) during the year. Accordingly, the provrsions of clause 3(x)(b) of the Order are not applicable.
XI a) No fraud by the company or any fraud on the company has been noticed or reported during the year covered by our audit. Accordingly, the provisions of clause 3(xi)(a) of the Order are not applicable. b) No report under sub-section (12) of section 143 of the Companies Act has been filed by the auditors in Form ADT-4 as prescribed under rule 13 of Companies
(Audit and Auditors) Rules,2014 with the Central Government. Accordingly, the provisions of clause 3(xi)(b) of the Order are not applicable. c) There were no whistle-blower complaints received during the year by the company. Accordingly, the provisions of clause 3(xi)(c) of the Order are not
a pplica ble.
xii ln our opinion, the Company is not a Nidhi Company. Accordingly, the provision of clause 3(xii) of the Order is not applicable.
xiii. ln our opinion all transactions with the related parties are in compliance with Sections lll and 1BB of Act, where applicable, and the requisite details have
been
disclosed in the financral statements etc., as required by the applicable lndian accounting standard.xiv. a) The company has an internal audit system commensurate with the size and n atu re of its business. b) The the period under audit were considered by the xv. ln our opinron, the company has not enteied into any non-cash transactions with the directors or persons connected with them covered under Section 192 of the Act. Accordingly, the provision of clause 3(xv) of the Order is not applicable.
xvi. a) The company is a registered NBFC company U/s 45lA of the Reserve Bank of lndia Act, 1934 vide registration no B-03.0O173 dated 24llLll4 in category Non-
Banking Financial lnstitution without accepting public deposit and accordingly, the company is carrying on financial Services business. b) The company has conducted Non-Banking Financial activities with a valid
Certificate of Registration (CoR) from the Reserve Bank of lndia as per the
Reserve Bank of lndia Act, 1934. c) The company is not a Core-lnvestment Company (ClC) as defined in the regulations made by the Reserve Bank of lndia. Accordingly, the provision of clause 3(xvi)(c) of the Order is not applicable. d) The Group does not have any CIC as part of the Group. Accordrngly, the provisions of clause 3(xvi)(d) of the Order are not applicable.
xvii. The company has not incurred cash losses in the current financial year and in the immediately preceding financial year. Accordingly, the provision of clause 3(xvii) of the Order is not applicable.
xviii.There has been no resignation of the statutory auditors during the year.
Accordingly, the provision of clause 3(xviii) of the Order is not applicable.
xix. 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, the auditors knowledge of the Board of Directors and management plans, we (the auditor) are of the opinion that no material uncertainty exists as on the date of the audit report and that the company is capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.
xx The provisrons of Section 135 are not applicable to the company. Accordingly, the provision of clause 3(xx) of the Order is not applicable.
xxi There have been no qualifications or adverse remarks by the respective audrtors in the Companies (Auditors Report) Order (CARO) reports of the companies included in the consolidated financial statements as the company has not performed any consolidation. Accordingly, the provision of clause 3(xxi) of the Order is not applicable.
CZ NIRDESH BADJATYA PARTNER
ICAI MNO 42O3BB
i,1J,?i[f(t9) ss onr n qQ,,)t{.75
DATE: 28.O5.2025
Annexure
- "8" to the lndependent Auditors Report(Referred to in paragraph 2 underReport on Other Legal and Regulatory Requirements in the lndependent Auditors Report of even date to the members of ANJANI FINANCE LIMITED on the financial statements for the year ended 31t March 2025).
Report on the lnternal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act").
We have audited the internal financial controls over financial reporting of Anjani Finance Limited ("the Company") as of 31t March 2025 in conjunction with our audit of the financial statements of the Company for the year ended on that date.
OPINION
ln our opinion, and to the best of our information and according to the explanation 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 31 March 2025, 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 issued by lCAl.
MANAGEMENTS RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS
The Companys management is responsible for establishing and maintarning internal financial controls based on the internal control over financial reporting criteria established by the Company consrdering the essential components of internal control stated in the Guidance Note on Audit of lnternal Financial Controls over Financial
Reporting issued by the lnstitute of Chartered Accountants of lndia (the "Guidance Note"). These responsibilities include 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 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 Act.
AUDITORS RESPONSI BILITY
Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, issued by lCAl and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of lnternal 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 maintatned 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 effectlveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal frnancial 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 judgment, including the assessment of the rtsks 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 Companys internal financial controls system over financial reporting.
MEANING OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO FINANCIAL STATEMENTS
A companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financiai reporting Jnd the preparation of financial statements for external prrpoiet in accordance with generally accepted accounting principles. A companys internal financial control over financial reporting includes those policies and procedures that:
1. Regarding 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 frnancial statements in accordance with generally a..epted accounting princrples, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
3. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys aisets that could have a material effect on the financial statements.
INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO FINANCIAL STATEMENTS
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 financiil controls over financial reporting to future periods are subject to the risk that the internal financral control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deleriorate.
STATUTORY AUDITORS
FOR MAHENDRA BADJATYA & CO CHARTERED ACCOUNTANTS ICAI FRN OO1457C
CZ NIRDESH BADJAryA
PARTNER
tcAt MNo 420388
PLACE:INDOREt:\t lDt,y:ifhRsV ssB iyrf, H e f_ \ rttz,
DATE: 28.05.202s
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