career point ltd share price Auditors report


To the Members of Career Point Limited

Report on Audit of the Standalone Financial Statements

Opinion

Wo have audited the standalone financial statements of Career Point Limited ("the Company"), which comprise the Balance Sheetasat 31st March, 2023, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows and Statement of Changes in Equity for the year then ended and notes to the financial statements, including a summary of the significant accounting policies and other explanatory Information (herein after referred to as "standalone financial statements")

In our opinion and to the best of our Information and according to the explanations given to us, the aforesaid standalone 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 other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March. 2023. and its profit (including Other Comprehensive Income), changes in equity and its cash flows fortheyear ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are Independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of Indio (ICAl) together with the ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to:

a) Note no. 50 (b) of the standalone financial statements regarding total exposure in subsidiary company M/s Srajan Capital Limited (SCL) amounting to Rs. 20,186.74 lakhs (Investment Rs. 2,663.00 lakhs and unsecured loan Rs. 17,523.74 lakhs). As per the audited financial statements of SCL. it has degraded (sub-standard and doubtful) its loans and advances to various parties amounting to Rs. 5,228.82 lakhs (upto 31.03.2022 4,43172 lakhs) including loans given to related party of Rs. 4.397.32 lakhs (upto 31.03.2022 4,397.32 lakhs) against which SCL has made provision of Rs. 4,507.38 lakhs (including provision against loans given to related party of 4,397.32 lakhs (upto 31.03.2022 Rs. 467.20 lakhs including provision on loans given to related party of Rs. 439.73 lakhs). Also, as stated in note 39 of the audited financial statements of SCI for the year ended 31st March 2023, the borrower has started the payment of its outstanding dues and has p3id Rs. 1,007.20 lakhs during the year. The auditors of SCL have drawn attention (without modifying) on the above stated matter in their audit report dated 29th May 2023. Considering the long term nature, the Intrinsic value and future cash flows of the assets of

subsidiary company, in the opinion of the management of the company, no provision for diminution in value is necessary in this stage.

b) Note no 40 of the standalone financial statements which describes the uncertainties relating to legal action pursued by the Company against Rajasthan skill and Livelihoods Development Corporation (RSLDC) before Honble Rajasthan High Court, Jaipur and the Rajasthan State Commercial Court for invocation of bank guarantee of Rs. 54.22 lakhs by RSLDC and recovery of outstanding amount of Rs. 213.41 lakhs (including Rs. 159.19 lakhs receivable). Based on its assessment of the merits of the case, the management is of the view that the aforesaid receivable balances are good and recoveraole and hence, no adjustment is required as stated in the note no. 16 of the standalone financial statements for the amount receivable as stated in the said note. Further, in the opinion of the management stated amount is good and recoverable.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most significance In our audit of the standalone financial statements of the current period. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and In forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined that no key audit matters to be communicated in our report

Information Other than the Standalone Financial Statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the other information. The other information comprises the information Included in the Management Discussion and Analysis, Boards Report including annexures to Boards Report, Report on Corporate Governance and Shareholders Information, but does not include the standalone financials statements and our auditors report thereon. The Other Information is expected to be made available to us after the date of this Auditors Re port.

Our opinion on the standalone financial statement does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. When we read Other Information, if we conclude that there is a material misstatement therein, we are required to communicate the mattei to those charged with governance,

Managements Responsibility for the Standalone Financial Statements

The Companys Board of Directors is responsibleforthe matters stated in Section 134(5) of the Act with respect to the preparation of these standalone 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 Indian Accounting Standards (Ind AS) and otheraccounting orinciples generally accepted in India.

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 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 financial statements, management is responsible for assessing the Companys 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.

Auditors Responsibilities for the Audit of the Standalone Financial Statements

Cur objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from material misstatement, 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 exists. 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 these standalone financial statements.

As part of an audit in accordance with SAs. we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, 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 an understanding of internal control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)0) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal f nancial controls system in place and 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 exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required

to dray/ attention In our auditors report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions 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, to draw attention in our auditors report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions 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 financial statements, including the disclosures, and whether the standalone financial statements represent 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 it 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 standalone financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, Including any significant deficiencies In internal control that v/e identify during our audit.

We also provide those charged with governance with a statement that y/e have complied 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 charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when. In extremely rare circumstances, we determine that a matter should not be communicated in our report because the acverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 ("the

Order"), issued by the Centra 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 paragraphs 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

explanations which to the best of our knowledge and belief were necessary forthe purposes 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

c) The Balance Sheet, the Statement of Profit and Loss including other comprehensive income, the Statement of Changes in Equity and the Statement of Cash Flows dealt with by this Report are in agreement with the relevant books of account.

d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

e) On the basis of the written representations received from the directors as on 31st March, 2023 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2023 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 with respect to standalone financial statements 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 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 has disclosed the Impact of pending litigations on its financial position in its standalone financial statements - Refer Note No. 38 to the standalone financial statements;

ii. The Company has made provision, as required under the applicable law or Indian accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts.

ill. There has been no delay In transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company during the year ended 31st March, 2023.

iv. (a) The management has represented that (as stated in note 57 of the standalone financial statement), to the best of its knowledge and belief, no funds 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(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermedary 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 (read with Note No. 56(C) of the standalone financial statements for the funds advanced or loaned invested in one of the subsidiary company which is registered as NBFC with RSI and whose business is to provide and service loans and provide ancilliary services).

(b) The management has represented that (as stated in note 57 of the standalone financial statement), 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, directiy 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.

(c) Based on such audit procedures that we 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 (a) and (b) contain any material mis-statement.

v. (a) The dividend paid during the year (for FY 2021-2022) by the Company Is In compliance with section 123 of the Companies Act,

2013.

(b) The interim dividend declared and paid 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 dividend for the year which is subject to the approval of the members in the ensuing General meeting. The amount of dividend proposed is in accordance with section 123 of the Companies Act, 2013.

vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of accounts using accounting software which has a feature of recording audit trail (edit log) facility is applicable to the Company with effect from 1st April 2023, and accordingly, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 is not applicable for the financial year ended 31st March, 2023.

For Lodha & Co.

Chartered Accountants

Firm Registration No. 3010S1E

(Gaurav Lodha)

Partner

Membership No. S07462

Place: New Delhi

Date: May 29, 2023

ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT

Report on the matters specified in paragraph 3 of the Companies (Auditors Report) Order, 2020 ("the Order) issued by the Central Government of India in terms of section 143(11) of the Companies Act, 2013 ("the Act") as referred to in paragraph 1 of Report on Other Legal and Regulatory Requirements section l.(a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment.

(8) The Company has maintained proper records showing full particulars of intangible assets.

(b) As explained to us, the Property, Plant & Equipment have been

physically verified by the management In accordance with a phased programme of verification, which in our opinion is reasonable considering the size of the company and the nature of its property, plant and equipment. The frequency of physical verification Is reasonable and no material discrepancies were noticed on such verification.

(c) As per the records and information and explanations given to us

and on the basis of our examination of the records of the Company, the title deeds of ail the Immovable properties (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in property, plant and equipment, investment property and assets held for sale are held in the name of the company as atthe balancesheetdate

(d) The Company has not revalued any of its property, plant and

equipment and intangible assets during the year. Hence, reporting under clause. 3(i)(d) of the order is not applicable on the company.

(e) According to the information and explanations given to us and

records provided, 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 Prohibition of Benami Property Transactions Act, 1388 (as amended In 2016) and rules made thereunder.

ii. (a) As per the physical verification programme, the inventory were physically verified during the year by the management at reasonable intervals. In our opinion and according to the information and explanations given to us, the coverage and procedure of such verification by the management Is appropriate having regard to the size of the company and nature of its operations. No discrepancies of 10% or more in the aggregate for each class of inventory wore noticed on such physical verification when compared with books of accounts.

(b) According to the information and explanations given to us and as per the records verified, the Company has been sanctioned working capital facility from banks or financial Institutions in excess of five crore rupees but not on the basis of security of current assets of the Company. Hence reporting under clause 3(ii)(b) of theOrder is not applicable.

iii. According to the information and explanations gwen to us, the Company has given unsecured loan and has made Investment but not provided any guarantee, security or advances in the nature of loan to the Companies, firms, limited liability partnerships and any other parties during the year.</p>

(a) The Company has, during the year, provided the unsecured loan to the company as per the details below:-

Loans

A. Aggregate amount granted/ provided during the year:

-Subsidiaries

27,153.46

-Others

-

3. Balance outstanding as at 31st March 2023 In respect of above cases:

-Subsidiaries

17,523.74

-Others

-

The Company has granted above mentioned unsecured loans @ 10.05% interest rate.

(b) According to the information and explanations given to us and based on the records as made available to us, in our opinion, the investments made and in respect of the aforesaid loans given, the terms and conditions under which such loans were granted, are not prejudicial to the Companys Interest. (Refer note no 50(a) of the standalone financial statements). The Company has not provided any security or granted advances in the nature of loans to companies, firms, limited liability partnerships or any other parties.

(c) In respect of certain unsecured loans granted by the Company to its one subsidiary Srajan Capital Limited, the schedule of repayment of principal and payment of Interest has been stipulated and the repayments of principal amounts and receipts of interest are regular as per stipulation.

Further, the Company has also granted certain loans that are repayable on demand 3nd during the previous year 2021-2022, unsecured loan of Rs. 12,200 lakhs was transferred from repayable on demand to long term loans. Having regard to the fact that the repayment of principal or the payment of interest has not been demanded by the Company, in our opinion the repayments of principal amounts and receipts of interest are regular (read with our comments to para 3(f) below).

(d) According to the information and explanations given to us and based on the audit procedures performed, in respect of loans granted by the Company, there is no overdue amount remaining outstanding in respect of loan amount and interest as at the balance sheet date (read with our comments to para 3(f) below).

(e) No loan or advance in the nature of loan granted by the Company which has fallen due during the year, has beer renewed or extended or fresh loans granted to settle the overdues of extinguish loans given to the same parties (re3d with our comments to para 3(f) below).

(f) The Company has granted Loans which are repayable on demand or without specifying any terms or period of repayment details of which are given below

All Parties Promoters Related

Parties

Aggregate of ioans/ndvances In nature of loans

Repayable on demand {A}

27,153.53 - 27,153.53

- Agreement does not specify any terms or period of repayment (B)

Total (A+B)

27,153.53 - 27,153.53

Percentage of loans/advances n nature of loans to the total loans

10054 - 100%

?During the previous year 2021-2022, the Company had transferred unsecured loan of Rs. 12,200 lakhs from loans repayable on demand to long term loans {refer note no 50 (C) of the standalone financial statements).

iv. According to the Information, explanations and representations provided by the management and based upon audit procedures performed, we are of the opinion that in respect of loans granted, Investments made and guarantees and securities provided, as applicable the Company has complied with the provisions of the Section 165 and 186ofthe Companies Act, 2013.

v. In our opinion 3nd according to the information and explanations given to us. the Company has not accepted deposits from public within the provisions of Sections 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the Companies {Acceptance of Deposits) Rules, 2014, as amended. Accordingly, provisions of clause 3{v) of the Order are not applicable. According to the Information and explanations given to us, no order has been passed by the Company Law Boaro or the National Company Law Tribunal or the Reserve Bank of India or any Court or any other Tribunal 3gainstthe Company in this regard

vi. We have broadly reviewed the books of accounts maintained by the company pursuant to the rules made by the Central Government for the maintenance of cost records under section 148(1) of the Act in respect of the companys products to which the said rules are made applicable and are of the opinion that prlma facie, the prescribed records have been made and maintained. We have, however, not made a detailed examination of the saia records with a view to determine whetherthey are accurate or complete.

vii. According to the records of the Company and information and explanations made available to us, in respect of statutory dues

(a) The Company has generally been regular in depositing undisputed statutory dues, Including Provident Fund, Employees State Insurance, Income Tax, Goods and Service Tax, Custom Duty, Cess and other material statutory dues with the appropriate authorities, to the extent applicable. There were no undisputed statutory dues payable as at 31st March, 2023 which were outstanding for a period of more than six months from the date they become payable.

(b) According to the records and information & explanations given to us. there are no dues in respect of income tax, sales tax, VAT, service tax. Goods and Service Tax, custom duty, excise duty and other material statutory dues that have not been deposited with appropriate authorities, to the extent applicable on account of any dispute and the dues in respect of sales tax and income tax that have not been deposited with the appropriate authorities on account of any dispute and the forum v/here the dispute is pending are given below:

Name of the Statute

Nature of the dues Period to which the amount relates Amount in Lakhs) Forum where disputes are pending

The Rajasthan Value Added Tax Act, 2003

Vat demand on Royalty, Application forms, Study Material etc. 2006-07 to 2012-13 379.37 Rajasthan High Court

Service Tax {Finance Act, 1994)

Payment of service tax on trading on securities 2012-13 to 2016-17 78.98 CESTAT

Income tax Act. 1961

Income tax Demand F.Y. 2016-17 11.26 Commissioner Income Tax (Appeals)

viii. There were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year.

ix. (a) According to the information and explanations given to us, the Company has not defaulted in repayment of its loans or borrowings or In the payment of interest thereon to any lender during the year.

(b) According to the information and explanations given to us, the Company has not been declared willful defaulter by any bank or financial institution or any government authority.

(c) According to the information and explanations given to us and on examination of the books of the company, in our opinion, the term loans availed by the company was applied forthe purposes for which these were raised.

(d) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been utilised for long-term purposes by the Company

(e) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, we report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries or associates as defined under the Act. The Company does not hold any investment in any joint venture (as defined under the Act) during the year ended 31 March 2023.

(f) The company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies and hence reporting under dause 3(ix)(f) of the Orderis not applicable.

x. (a) The Company has not raised moneys by way of initial public offer or further public offer (Including debt instruments) during the year and hence reporting under clause 3(x)(a) of the Order is not applicable.

(b) During the year the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause 3(x)(b) of the Order is not applicable to the Company.

xl. (a) Based on the audit procedures performed and on the basis of information and explanations provided by the management, no fraud by the Company and no fraud on the Company has been noticed or reported during the year

(b) To the best of our knowledge, no report under subsection (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 and upto the date of this report.

(c) As represented to us by the Management, there were no whistle blower complaints received by the Company during the year which remained unattended by the competent authorities.

xii. In our opinion and according to the information and explanations given to us, the Company is not a nidhl company and hence reporting under clause 3(xii) of the Order is not applicable.

xiii. According to the information and explanations given to us. all transactions with the related parties are in compliance with sections 177 and 188 of the Act, where applicable, and the requisite details have been disclosed in the financial statements etc., as required by the applicable accounting standards.

xiv. (a) Based on information and explanation provided to us

and audit procedures performed. In our opinion, the company has an Internal audit system commensurate with the size and nature of its business.

(b) We have considered the Internal audit reports of the company issued till date forthe period under audit.

xv. On the basis of records made available to us and according to information and explanations given to us, the Company has not entered into non-cash transactions with the directors or persons connected with its directors and hence provisions of section 192 of the Companies Act, 2013 are not applicable to the Company.

xvi. The Company Is not registered under section 45-IA of the Reserve Bank of India Act 1934. The Company also altered its object clause of the Memorandum of Association to include the business of holding and investment/finance w.e.f 10th September, 2021. being the date of approval of Ministry of Corporate Affairs. However, the company has applied for NBFI Registration with Reserve Bank of India (RBI) for carrying out NBFI activities and the management is under process to get the approval (read with note no.S7 of the standalone financial statements). As per the information and representation provided by the management, there are no CIC within the group (as defined in Core Investment Companies (Reserve Bank) Directions, 2016).

xvii. The Company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

xvlll. There has been no resignation of the statutory auditors of the Company during the year.

xix. On the basis of the financial ratios, ageing and expected dales of realization of financial assets and payment of financial liabilities (as per the payment schedule/ rescheduled), 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, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report indicating that Company is not 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. We, however, state that this is not an assurance as to the future viability of the Company and/ or certificate with respect to meeting financial obligations by the Company as and when they fall due. 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 get discharged by the Company as and when they fall due.

xx. (a) The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there is no unspent CSR amount for the year requiring transfer to a fund specified in Schedule VII of the Companies Act, 2013 (the Act) or special account in compliance with the provisions of sub-section (5) of section 135 of the said Act. Accordingly, reporting under clause 3(xx) of the Order is not applicable for the year.

(b) In Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amount for the year requiring a transfer to a Special account before the date of this report and within a period of 30 days from the end of the financial year in compliance with the provision of section 135(6) of the Act.

xxi. The reporting under clause 3(xxi) of the order is not applicable In respect of standalone financial statements. Accordingly, no comment in respect of the said clause has been included in this report.

For Lodha & Co.

Chartered Accountants

Firm Registration No. 3O1051E

(Gaurav Lodha)

Partner

Membership No. 507462

UDIN 23507462BGVDKC6073 Place: New Oelhi

Date: May 29. 2023

ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT

Report on the Internal Financial Controls under Clause (I) of Subsection 3 of Section 143 of the Companies Act, 2013 ("the Act") as referred to In paragraph 2(f) of Report on Other legal and Regulatory Requirements section

We have audited the internal financial controls with respect to standalone financial statements of CAREER POINT LIMITED ("the Company") as of March 31, 2023 in conjunction with our audit of the standalone 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 pievention 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 with respect to standalone financial statements 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 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 with respect to standalone financial statements 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 financial controls system with respect to standalone financial statements and their operating effectiveness.

Our audit of internal financial controls with respect to standalone financial statements included ootaining an understanding of internal financial controls with respect to standalone financial statements, 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 standalone 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 with respect to standalone financial statements.

Meaning of Internal Financial Controls over Financial Reporting

A companys internal financial control with respect to standalone financial statements 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 with respect to standalone financial statements 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 with respect to standalone financial statements, 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 with respect to standalone financial statements to future periods are subject to the risk that the internal financial control with respect to standalone financial statements 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 best of our information and according to the explanations given to us, we report that the Company has. In all material respects, an adequate internal financial controls system with respect to standalone financial statements and such internal financial controls with respect to standalone financial statements 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.

For lodha & Co.

Chartered Accountants

Firm Registration No. 301051E

(Gaurav Lodha)

Partner

Place: New Delhi

Membership No. 507462 Career Point Ltd. Annual Reaort 2022-23

Date: May 29, 2023