Beryl Securities Ltd Directors Report.

To,

The Members of BERYL SECURITIES LIMITED

Report on the Financial Statement

We have audited the accompanying financial statements of Beryl Securities Limited ("the Company"), which comprises the Balance Sheet as at March 31,2018, and the statement of Profit and loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Managements Responsibility for the 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 financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India, including the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of act for safeguarding 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, in design, implementation and maintenance of adequate internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that gave a true and fair view and are free from material misstatements, whether due to fraud or errors.

Auditors Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provision of the act, the accounting and auditing standards in matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statement. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Companys preparation of the financial statement that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanation given to us financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31,2018, and its profit and its cash flows for the year ended on that date.

Emphasis of Matter

Without qualifying our report, Attention is invited to following notes to the financial statement:-

1. Note No. 10.01: The shares of Byke Hospitality Limited are not in Demat Form. The physical Shares are also not verified as the same are notin possession of the Company.

The Company is not receiving any dividend from Byke Hospitality Limited although dividend is declared during last several years.

2. Note No, 11.01 : The Company has advanced Rs.2404163 against Purchase of Fiat at Sohna , Haryana whose Registry is still pending since last several years. Nevertheless Management has opined the said Advance as good & recoverable.

3. Note No. 11.02 : The Company has advanced Rs.3319967 against Purchase of Flat at Jaypee Greens, Noida whose Registry is still pending since last several years. Nevertheless Management has opined the said Advance as good & recoverable.

4. Note No.11.03 : Company has advanced Rs. 2000000/- against Purchase of Plot to Accural Realities Pvt.Ltd. since Iong whose registry is still pending.

5. Note No. 11.04: The Company has advanced Rs.1600460/- against purchase of Flat at Mumbai to Mr.Yogendra Jain. As per the agreement the whole amount is to be given back by Mr. Yogendra Jain to the Company till 31.3.2018, but the amount is still due. However, the Management has opined the said Advance as goods and recoverable.

6. Note No.12 : The Bank Balance of Rs.4509/- with Punjab National Bank is not verified with the bank statement and hence the same is subject to reconciliation.

7. Note No. 27: Balances under Trade Receivables are subject to confirmation.

8. Note No. 38: The Company has stated the Total Deferred Tax Asset in the Balance Sheet at Rs.1603926/- (previous year also Rs. 1603926/-). However as per AS-22, the same comes to Rs.307870/- as at 31st March, 2018. Hence the Deferred Tax Assets in the Balance Sheet are overstated by Rs.1296056/- due to prior errors.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2016 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure - A", a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

2. As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanation, which to the best of our knowledge and belief were necessary for the purpose of our audit.

(b) In our opinion, the Company has kept Proper books of account as required by the law so far as it appears from our examination of those books.

(c) The balance sheet, the statement of profit and loss and the cash flow statement dealt with by this Report are in agreement with the books of accounts.

(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133oftheAct, read with Rule 7 of the Companies (Accounts) Rules, 2014.

(e) On the basis of the written representations received from the directors as on 31 st March 2018 taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2018 from 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, and,

(g) 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 explanation given to us:

1) The Company has disclosed the impact of pending litigations on its financial position in its financial position. (Refer Note. 39 to the financial statements)

2) The Company did not have any long term control, including derivatives contract for which there were any material foreseeable losses.

3) There were no amounts which were required to be transferred to the investor Educations and Protections fund by the Company.

For : Prateek Jain & Co
Chartered Accountants
FRN - 009494C
Place: Indore [Prateek Jain] Proprietor
Date : 30th May 2018 M.No,079214

ANNEXURE - "A" TO THE INDEPENDENT AUDITORS REPORT

The Annexure referred to in Independent Auditors Report to the members of the Company on the financial statements for the year ended 31 March 2018, we report that:

(I) In respect of Fixed Assets:

a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets.

b) As explained to us, all the fixed assets have been physically verified by the management in aq phased periodic manner, which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the title deeds of immovable properties are held in the name of the Company.

(II) The company is finance and Investment Company, hence having regards to the nature of the business of the company, the Clause (a), (b) & (c) of paragraph (ii) of the order is not applicable to the company.

(III) The Company has not granted any loans secured or unsecured to Companies, Firms, Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the Companies Act, 2013 (the Act). Therefore, the provision of clause (iii) (a), (iii) (b) and (iii) (c) of the said order are not applicable to the Company.

(IV) 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 Act, as applicable with respect to the grant of loans, making investments and providing guarantees & securities.

(V) According to the information and explanations given to us, the Company has not accepted any deposits under sections 73 to 76 or any other relevant provision of companies act and the rules framed there under. Therefore, the provisions of Clause (v) of of the said order is not applicable to the Company.

(VI) According to the Information and explanation given to us, the Central Government has not prescribed maintenance of cost records under Section 148(1) of the Companies Act, 2013 for the Company.

(VII) a) According to the books of accounts and records examined by us, of the Company, the Company is generally regular in depositing with appropriate authorities undisputed Statutory Dues applicable to it. No undisputed amount payable in respect of any Statutory Dues were outstanding as at 31.03.2018 for a period of more than six months from the date they became payable except the following:

Sr. No. Nature of the Statute Nature of Dues Amount Period to which the amount relates
1 GST GST Payable 9000 F.Y. 2017-18
2 Service Tax Service Tax Payable 7500 F.Y. 2016-17
3 Professional Tax Professional Tax Payable 47500 FY 1999-2000 to FY 2016-17
4 Income Tax Act Income Tax Demand 26400 FY 2005-06
5 Income Tax Act Income Tax Demand 13702 FY 2009-10
6 Wealth Tax Act Wealth Tax 116568 Upto FY 2015-16

b) According to the information and explanations given to us, there are no material dues of wealth tax, and other statutory dues which have not deposited with the appropriate authorities on account of any dispute. However, according to information and explanations given to us, the following dues of income tax have not been deposited by the Company on account of disputes:

Sr.

No.

Nature of the Statute Nature of Dues Amount Period to which the amount relates Forum where dispute is pending
1 Income Tax Act Income Tax 384290.00 F.Y. 2005-06 IT Department, Indore
2 Income Tax Act Penalty U/S 271(1) (c) 386500.00 F.Y. 2007-08 CIT (A) 1 Indore
3 Income Tax Act Income Tax 18030.00 F.Y. 2008-09 IT Department, Indore
4 Income Tax Act Income Tax 12570.00 F.Y. 2009-10 IT Department, Indore
5 Income Tax Act Income Tax 12230.00 F.Y. 2010-11 IT Department, Indore
6 Income Tax Act Tax Liability U/S 115JB 575900.00 F.Y. 2011-12 CIT (A) 1 Indore
7 Income Tax Act Income Tax 1560.00 F.Y. 2013-14 IT Department, Indore
8 Income Tax Act Income Tax 15450.00 F.Y. 2014-15 IT Department, Indore

TDS Dfaillis on traces:

Financial Year Amount in (Rs.)
2007-08 120/-
2008-09 190/-
2009-10 4180/-
2010-11 12950/-
2011-12 280/-
2014-15 110/-
2017-18 420/-
Total Demand 18250/-

(VIII) The Company did not have any outstanding dues to financial institutions, banks or debenture holders during the year. Hence, paragraph 3(viii) is not applicable of the order.

(IX) The company did not raise any money by way of initial pubi coffer or further public offer (in eluding debt instruments) and term loans during the year. Accordingly, paragraph 3(ix) of the Order is not applicable.

(X) According to the information and explanations given to us, no material fraud by the Company or on the Company by its officers or employees has been noticed or reported during the course of our audit.

(XI) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has paid / provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Act.

(XII) In our opinion and according to the information and explanations given to us, the Company is not a Nidhi mutual benefit Company. Accordingly, paragraph 3(xii) of the Order is not applicable.

(XIII) According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with sections 177 and 188 of Companies Act, 2013 where applicable and the details of such transactions have been disclosed in the Financial Statements as required by the applicable accounting standards.

(XIV) 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 fully or partly convertible debentures during the year.

(XV) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into any non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.

(XVI) The company is a registered NBFC company U/s 45IA of the Reserve Bank of India Act, 1934 vide registration no 03.00040 dated 03/03/1998 in category Non-Banking Financial Institution (Non Deposit taking Company) and accordingly, the company is carrying on financial Services business.

For : Prateek Jain & Co
Chartered Accountants
FRN - 009494C
Place : Indore [Prateek Jain] Proprietor
Date : 30" May 2018 M.No. 079214

ANNEXURE -"B" TO THE AUDITORS REPORT

Report on the Internal 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 Beryl Securities Limited ("the Company") as of March 31, 2018 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management 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 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 Companies Act, 2013.

Auditors Responsibility

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 on Audit of Internal Financial Controls Over Financial Reporting (the Guidance Note) and the Standards on Auditing, issued by ICAI 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 Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. 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 judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidences we have obtained are 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 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 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 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, 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, 2018, 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.

For : Prateek Jain & Co
Chartered Accountants
FRN - 009494C
Place: Indore [Prateek Jain] Proprietor
Date : 30th May 2018 M.No,079214