GP Petroleums Ltd Auditors Report.

To

The Members Gp Petroleums Limited

Report On The Audit Of Financial Statements Opinion

We Have Audited The Accompanying Financial Statements Of Gp Petroleums Limited ("The Company") Which Comprises The Balance Sheet As At 31st March, 2019, The Statement Of Profit And Loss (Including Other Comprehensive Income) And Cash Flow Statement And The Statement Of Changes In Equity For The Year Then Ended, And Notes To The Financial Statements, Including A Summary Of Significant Accounting Policies And Other Explanatory Information.

In Our Opinion And To The Best Of Our Information And According To The Explanations Given To Us, The Aforesaid Financial Statements Give The Information Required By The Company 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 India, Including Indian Accounting Standards (‘Ind As) Specified Under Section 133 Of The Act, Of The State Of Affairs (Financial Position) Of The Company Asat31 St March, 2019 And Profit (Financial Performance Including Other Income), Its Cash Flows And The Changes In Equity For the year 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 Companys Act, 2013. Our Responsibilities Under Those Standards Are Further Described In The Auditors Responsibilities For The Audit Of The 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 India Together With The Ethical Requirements That Are Relevant To Our Audit Of The Financial Statements Under The Provisions Of The Companies Act, 2013 And The Rules Thereunder, And We Have Fulfilled Our Other Ethical Responsibilities In Accordance With These Requirements And The Code Of Ethics. We Believe That The Audit Evidence We Have Obtained Is Sufficient And Appropriate To Provide A Basis For Our Opinion.

Key Audit Matter

There Is No Key Audit Matter Requiring Information To The Members Of The Company.

Information Other Than The 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 Annual Report, But Does Not Include The Financial Statements And Our Auditors Report Thereon.

Our Opinion On The Financial Statements Does Not Cover The Other Information And We Do Not Express Any Form Of Assurance Conclusion Thereon. In Connection With Our Audit Of The Financial Statements, Our Responsibility Is To Read The Other Information And, In Doing So, Consider Whether The Other Information Is Materially Inconsistent With The Financial Statements Or Our Knowledge Obtained In The Audit Or Otherwise Appears To Be Materially Misstated. If, Based On The Work We Have Performed, We Conclude That There Is A Material Misstatement Of This Other Information, We Are Required To Report That Fact. We Have Nothing To Report In This Regard.

Responsibility Of Management And Those Charged With Governance

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 State Of Affairs (Financial Performance Including Other Comprehensiveincome),Changeinequityandcashflowsof The Company In Accordance With The Accounting Principles Generallyacceptedinindia,Includingtheindasspecifiedunder Section 133 Of The Act. 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 Implementation And Maintenance Of 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 Financial Statement That Give A True And Fair View And Are Free From Material Misstatement, Whether Due To Fraud Or Error. In Preparing The Financial Statements, The Board Of Directors Are 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 Responsibility For The Audit Of The Financial Statements

Our Objectives Are To Obtain Reasonable Assurance About Whether The 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 Financial Statements.

As Part Of An Audit In Accordance With Sas, We Exercise Professional Judgment And Maintain Professional Skepticism Throughout The Audit. We Also: A. Identify And Assess The Risks Of Material Misstatement Of The 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. B. Obtain An Understanding Of Internal Control Relevant To The Audit In Order To Design Audit Procedures That Are Appropriate In The Circumstances. Under Section 143(3)(I) Of The Companies Act, 2013, We Are Also Responsible For Expressing Our Opinion On Whether The Company Has Adequate Internal Financial Controls System In Place And The Operating Effectiveness Of Such Controls. C. Evaluate The Appropriateness Of Accounting Policies Used And The Reasonableness Of Accounting Estimates And Related Disclosures Made By Management. D. 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 Companys Ability To Continue As A Going Concern. If We Conclude That A Material Uncertainty Exists, We Are Required To Draw Attention In Our Auditors Report To The Related Disclosures In The Financial Statements Or, If Such Disclosures Are Inadequate, To Modify Our Opinion. Our 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. E. Evaluate The Overall Presentation, Structure And Content Of The Financial Statements, Including The Disclosures, And Whether The Financial Statements Represent The Underlying Transactions And Events In A Manner That Achieves Fair Presentation.

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 We Identify During Our Audit.

We Also Provide Those Charged With Governance With A Statement That We 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 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 Adverse 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 Section 197(16) Of The Act, We Report That The Company Has Not Paid/Provided For Any Managerial Remuneration, Except Board Meeting Sitting Fees Paid To Independent Director(S) During The Year As Stipulated To Section 197 Read With Schedule V To The Act

2. As Required By The Companies (Auditors Report) Order, 2016 ("The Order"), Issued By The Central Government Of India In Terms Of Subsection (11) Of Section 143 Of The Companies Act, 2013, We Give In The Annexure "A" A Statement On The Matters Specified In Paragraphs 3 And 4 Of The Order, To The Extent Applicable.

3. As Required By Section 143(3) Of The Act, We Report That:

We Have Sought And Obtained All The Information And Explanations Which To The Best Of Our Knowledge And Belief Were Necessary For The Purposes Of Our Audit. A. 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.

B. 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 Account. C. In Our Opinion, The Aforesaid Financial Statements Comply With The Indian Accounting Standards (Ind As) Specified Under Section 133 Of The Act, Read With Rule 7 Of The Companies (Accounts) Rules, 2014. D. On The Basis Of The Written Representations Received From The Directors As On 31st March, 2019 Taken On Record By The Board Of Directors, None Of The Directors Is Disqualified As On 31st March, 2019 From Being Appointed As A Director In Terms Of Section 164 (2) Of The Act. E. With Respect To The Adequacy Of The Internal Financialcontrolsoverfinancialreporting (Ifcofr) Of The Company As On 31 March, 2019 In Conjunction With Our Audit Of Financial Statement Of The For the year ended On That Date And On The Operating Effectiveness Of Such Controls, Refer To Our Separate Report In "Annexure B". F. 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 Impact Of Pending Litigation Which May Impact Its Financial Position In Its Financial Statements. Ii. The Company Has Made Provision, As Required Under The Applicable Law Or Ind-As, For The Material Foreseeable Losses, If Any, Any Long-Term Contract Including Derivative Contracts Iii. There Has No Delay In Transferring Amounts, Required To Be Transferred, To The Investor Education And Protection Fund By The Company During The Year Ended 31 March 2019.

For Png & Co.
Chartered Accountants
Firm Registration No.021910n
Prabhat Kumar
Place: Delhi Partner
Date: 17 May, 2019 Membership No. 087257

Annexure A To The Independent Auditors Report

Referred To In Paragraph Under "Report On Other Legal And Regulatory Requirements" Of Our Report Of Even Date To The Members Of Gp Petroleums Limited On The Accounts Of The Company For the year ended 31st March, 2019.

On The Basis Of Such Checks As We Considered Appropriate And According To The Information And Explanations Given To Us During The Course Of Our Audit, We Report That:

1. In Respect Of Property, Plant And Equipment A. The Company Has Maintained Proper Records Showing Full Particulars Including Quantitative Details And Situation Of Property, Plant & Equipment. B. The Company Has A Regular Program Of Physical Verification Of Its Property, Plant & Equipment By Which Property, Plant & Equipment Are Verified In A Phased Programme Designed To Cover All The Items Over The Period Of 3 Year. In Accordance With This Program, All Property, Plant & Equipment Were Verified During The Year And No Material Discrepancies Were Noticed On Such Verification. In Our Opinion, This Periodicity Of Physical Verification Is Reasonable Having Regard To The Size Of The Company And The Nature Of Its Assets. C. The Title Deeds Of Immovable Properties, As Disclosed In Note 02 On Property, Plant & Equipment To The Financial Statements, Are Held In The Name Of The Company, Except A Flat At Mumbai Having Carrying Value Of##Rs## 411.54 Lacs As At March 31, 2019 As Disclosed In Note 04.

2. In Respect Of Inventories

The Physical Verification Of Inventory Excluding For Goods-In-Transit & Stocks With Third Parties Has Been Conducted At Reasonable Intervals By The Management During The Year. In Respect Of Inventory Lying With Third Parties, These Have Substantially Been Confirmed By Them Written Confirmations Have Been Obtained By The Management. The Discrepancies Noticed On Physical Verification Of Inventory As Compared To Book Records Were Not Material And Have Been Appropriately Dealt With In The Books Of Accounts.

3. In Respect Of Loans Given By The Company

According To The Information And Explanations Given To Us, The Company Has Not Granted Loans, Secured And Unsecured To Companies, Firms, Limited Liability Partnerships Or Other Parties In The Register Maintained Under Section 189 Of The Companies Act, 2013 ("The Act"). (Register Of Contracts And Arrangements In Which Director Are Interested). Therefore, Reporting Under Paragraph 3(Iii) Is Not Applicable.

4. In Respect Of Loans To Directors And Investments Made By The Company

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, With Respect To The Loans And Investments Made. And Guarantees And Security Provided By It

5. In Respect Of Deposits

In Our Opinion And According To The Information And Explanations Given To Us, The Company Has Not Accepted Any Deposits From The Public To Which The Directives Issued By The Reserve Bank Of India And The Provisions Of Section 73 To Section 76 Or Any Other Relevant Provisions Of The Act And The Rules Framed Thereunder Apply. Thus, Paragraph 3(V) Of The Order Is Not Applicable To The Company.

6. In Respect Of Maintenance Of Cost Records

Pursuant To The Rules Made By The Central Government Of India, The Company Is Required To Maintain Cost Records Asspecifiedunder Subsection (1) Of The Section 148 Of The Act In Respect To Its Products. The Company Has Also Appointed Cost Auditor To Audit Its Cost Records In Pursuance Of The Provisions Contained In Companies Act, 2013. The Cost Auditor Has Audited Cost Records For The Financial Year Ended On 31st March 2019 And We Have Not Noticed Any Adverse Comment In Their Report Issued In Pursuance To Such Report. We Have Reviewed The Same, And Are Of The Opinion That, Prima Facie, The Prescribed Accounts And Records Have Been Made And Maintained. We Have Not, However, Made A Detailed Examination Of The Records With A View To Determine Whether They Are Accurate Or Complete.

7. In Respect Of Statutory Dues A. According To The Information And Explanations Given To Us And On The Basis Of Our Examination Of The Records Of The Company, Amounts Deducted/ Accrued In The Books Of Account In Respect Of Undisputed Statutory Dues Including Provident Fund, Income-Tax, Goods And Service Taxes, Cess And Other Material Statutory Dues Have Been Regularly Deposited During The Year By The Company With The Appropriate Authorities B. According To The Information And Explanations Given To Us And The Records Of The Company Examined By Us, The Particulars Of Dues (Net Of Deposit Under Protest Or Under Stay Condition Amounting To ##Rs## 819.75/- Lakhs And Stated Under Non-Current Assets As Recoverable), In Respect Of Excise Duty, Service Tax, Central Sales Tax Including Value Added Tax, And Other Material Statutory Dues Were In Arrears As At 31st March 2019 Which Have Not Been Deposited On Account Of Dispute, Are As Follows:

Name Of The Statute Nature Of Dues Amount Amount Paid /Adjusted Period To Which Amount Relates The Forum Where The Dispute Is Pending
(##Rs## In Lakhs) (##Rs## In Lakhs)
Central Excise Act, 1944 Excise Duty 193.17 94.08 Up To 2005 Cestat
Service Tax Service Tax 7.55 0.90 May 2016 To March 2017 Cestat
5.11 0.75 Fy. 2003-04 Dy. Cct Jamshedpur (A)
326.88 30.00 Fy 2004-05 Jt. Cst & Cst (A), Maharashtra
01.78 0.45 Fy 2009-10 Dc (A), Chennai
13.61 03.40 Fy 2010-11 Eto, Patiala
19.65 16.20 Fy 2011-12 Dy. Cct Jamshedpur, Vat
Tribunal Of Maharastra
Central Sales Tax And Local 6.56 1.61 Fy 2012-13 Dy. Cct Jamshedpur, Cto
Central Sales Tax Act Tax, Value Indore, Sr Joint Cst
And Local Sales Tax Added Tax Including Entry Tax) 42.10 0.47 Fy 2013-14 Jt. Cst (A), Cto Indore, Jt. Excise & Taxation Com. (A), Cct Patna.
323.43 0.24 Fy 2014-15 Jt. Excise & Taxation Com. (A), Dy Ccct (A) Indore, Dy Cct (A) Jamshedpur, Cttd, New Delhi.
28.02 0.00 Fy 2015-16 Dy. Cct, Jamshedpur, E&T Office, Faridabad.

8. In Respect Of Repayment Of Loan

According To The Records Of The Company Examined By Us And The Information And Explanation Given To Us, The Company Has Not Defaulted In Repayment Of Loans Or Borrowings To Any Financial Institution Or Bank Or Government Or Dues To Debenture Holder As At The Balance Sheet Date.

9. In Respect Of Utilization Of Ipo, Further Public Offer & Term Loans

According To The Information And Explanations Given By Management, During The Year The Company Has Not Raised Money By Way Initial Public Offer Or Further Public Offer (Including Debt Instrument) And Term Loans And Money Utilized For That Purpose They Raised.

10. In Respect Of Reporting Of Fraud To The Information And Explanations Given To Us, No Fraud By The Company Or On The Onthebasisofverification Company By Its Officers Or Employees Has Been Noticed Or Reported During The Course Of Our Audit.

11. In Respect Of Approval Of Managerial Remuneration

In Our Opinion And According To The Information And Explanations Given To Us, The Company Has Not Paid/Provided For Any Managerial Remuneration, Except Board Meeting Sitting Fees Paid To Independent Director(S) During The Year As Stipulated To Section 197 Read With Schedule V To The Act, Hence Clause (Xi) Of Paragraph 3 Of The Order Is Not Applicable

12. In Respect Of Reporting In A Nidhi Company

In Our Opinion And According To The Information And Explanations Given To Us, The Company Is Not A Nidhi Company. Accordingly, Reporting Under Paragraph 3(Xii) Of The Order Is Not Applicable.

13. In Respect Of Related Party Transactions

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 Have Been Entered Into By The Company In Its Ordinary Course Of Business On An Arms Length Basis And Therefore The Provisions Of Section 177 And 188 Of The Act Are Not Applicable To The Company, However The Details Of Such Transactions Have Been Disclosed In The Financial Statements As Required Under Indian Accounting Standard (Ind As) 24 Related Party Disclosures Specified Under Section 133 Of The Act, Read With Rule 7 Of The Companies (Accounts) Rules 2014.

14. In Respect Of Reporting Of Private Placement / Preferential Allotment Of Shares / Debentures

According To The Records Of Company, The Company Has Not Made Preferential Allotment Or Private Placement Of Shares Or Fully Or Partly Convertible Debentures During The Year Under Review And Complied With Provisions Of Clause (Xiv) Of Paragraph 3 Of The Order Not Applicable.

15. In Respect Of Reporting Of Non-Cash Transactions

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 Non-Cash Transactions With Directors Or Persons Connected With Him. Accordingly Reporting Under Paragraph 3(Xv) Of The Order Is Not Applicable

16. In Respect Of Reporting Of Registration U/S 45-Ia Of Rbi Act, 1934

In Our Opinion And According To The Information And Explanations Given To Us, The Company Is Not Required To Be Registered Under Section 45-Ia Of The Reserve Bank Of India Act 1934. Therefore, Provisions Of Clause (Xvi) Of Paragraph 3 Of The Order Are Not Applicable.

For Png & Co.
Chartered Accountants
Firm Registration No.021910n
Prabhat Kumar
Place: Delhi Partner
Date: 17 May, 2019 Membership No. 087257

Annexure B To The Independent 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") Opinion

We Have Audited The Internal Financial Controls Over Financial Reporting (Ifcofr) Of Gp Petroleums Limited As Of 31 St March 2019 In Conjunction With Our Audit Of The Financial Statements Of The Company For the year ended On That Date.

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 31 St March,2019, Based On The Internal Financial 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 (The "Guidance Note").

Managements Responsibility For Internal Financial Controls

The Companys Management And The Board Of Directors Are Responsibleforestablishingandmaintaininginternalfinancialcontrols Based On By Theinternalcontroloverfinancial Company Considering The Essential Components Of Internal Control Stated In The Guidance Note On Audit Of Internal Financial Controls Over Financial Reporting ("The Guidance Note") Issued By The Institute Of Chartered Accountants Of India ("Icai"). 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 Companiesact, 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 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 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 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 Financialstatements 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 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, Adequate Internal Financial Controls Over Financial Controls Over Financial Reporting Were Operating Effectively As At 31 March 2019, 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 The Icai.

For Png & Co.
Chartered Accountants
Firm Registration No.021910n
Prabhat Kumar
Place: Delhi Partner
Date: 17 May, 2019 Membership No. 087257