To
The Members of
HARMONY CAPITAL SERVICES LIMITED
Report on the standalone Ind. AS Financial Statements
Opinion
We have audited the accompanying standalone financial statements of Harmony Capital
Services Limited ("the Company"), which comprise the Balance Sheet as at March
31, 2023, and the Statement of Profit and Loss (including Other Comprehensive Income),
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 informationfhereinafter referred as the "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 Indian accounting standards prescribed under section
133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as
amended, ("Ind AS") and other accounting principles generally accepted in India,
of the state of affairs of the Company as at March 31, 2023, and profit, changes in equity
and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit of the Standalone Financial Statement in accordance with the
Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013.
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 India ("ICAI") together with the
independent 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 Code of
Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion on the Standalone Financial Statement.
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 opinion thereon, and we do not provide a separate opinion on these matters.
Information Other than the Standalone Financial Statements and Auditors Report Thereon
• The Companys Board of Directors is responsible for the preparation of the other
information. The other information comprises the other information included in the
Management Discussion and Analysis, Boards Report including Annexures to Boards Report,
Business Responsibility Report, Corporate Governance and Shareholders Information, but
does not include the standalone financial statements and our auditors report thereon.
• Our opinion on the standalone financial statements does not cover the other
information and we do not express any form of assurance or conclusion thereon.
• In connection with our audit of the standalone financial statements, our
responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the standalone financial statements or
other information obtained during the course of our 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.
Responsibilities of Management and Board of Directors for the Standalone Financial
Statements
The Companys management and Board of Directors are responsible for the 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
preformation, changes in equity and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the Indian Accounting
Standards (Ind AS) specified under Section 133 of the Act.
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 are reasonable and prudent; and design, implementation and
maintenance of adequate finnanciai 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, the Management and 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 the Board of Directors either intends to liquidate the Company
or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is also responsible for overseeing the Companys financial
reporting process.
Auditors Responsibilities for the Audit of the Standalone 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 Standards on Auditing, we exercise professional
judgment and maintain professional skepticism throughout the audit. We also:
i. 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.
ii. Obtain an understanding of internal controls relevant to the audit in order to
design audit procedures that are appropriate in the circumstances. Under the section
143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the
Company has adequate internal financial controls system in place and the
operaj:i^)^ecTiWhess of such controls.
iii. Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by management and Board of Directors.
iv. 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 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.
v. 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.
vi. 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 standalone 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 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
Financial Year ended 31st march.,2023 and are therefore the key audit matters. We describe
these matters in our auditors report unless law or regulation disclosure about the
matter or when, in extremely rare circumstances, we ddfeftriift^ Js^tia^Fhatter 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 the Companies (Auditors Report) Order, 2020 ("the Order")
issued by the Central Government of India in terms of Section 143(11) of the Act, and on
the basis of such checks of the books and records of the Company as we considered
appropriate and according to the information and explanations given to us, 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. A. 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 for the 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 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 cash flow Statement dealt with by this
Report are in agreement with the books of account.; .
d) in our opinion, the aforesaid standalone financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with 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 over financial
reporting of the Company and the operating effectiveness of such controls, refer to our
separate Report in "Annexure B".
B. 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
oyiv^imoh^nd, to the best of our
information and according to the explanations given to us: M.
. ? 401118 pi-
a. The Company has disclosed the impact of pending litigations on its financial
position in its standalone financial statements
b. The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses,
c. There has been no delay in transferring amounts, required to be transferred, to the
Investor Education and Protection Fund by the Company.
d. i). no funds have been advanced or loaned or invested by the company to or in any
other person(s) or entities, including foreign entities ("Intermediaries"), with
the understanding that the intermediary shall whether directly or indirectly lend or
invest in other persons or entities identified in any manner by or on behalf of the
company (Ultimate Beneficiaries) or provide any
. guarantee, security-or the like on behalf of ultimate beneficiaries.
ii) no funds have been received by the company from any person(s) or entities including
foreign entities ("Funding Parties") with the understanding that such 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
guarantee, security or the like on behalf of the Ultimate beneficiaries
iii) Based on the audit procedures performed, we report that nothing has come to our
notice that has caused us to believe that the representations given under sub-clause (i)
and (ii) by the management contain any material mis-statement
iv) In our opinion Company has complied with section 123 of the Companies Act,2013 with
respect to dividend declared/paid during the year.
v) Based on the audit procedures that have been considered reasonable and appropriate
in the circumstances, nothing has come to our notice that has caused us to believe that
the representation under Sub Clause (i) and (ii) of Rule life) of The Companies (Audit and
Auditors) Rules, 2014, as provided under (a) and (b) above, contains any material
misstatement. [Refer note 45 (ix) and 45 (x) to the standalone financial statements.]
vi) 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. The remuneration paid to any director is not in
excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate
Affairs has not prescribed other
details under Section 197(16) of the Act which are required to be commented upon by us
e. Proviso to Rule 3(1) of the Companies (Accounts)Rules, 2014 for maintaining books of
account using accounting software which has a feature of recording audit trail (edit log)
facility is applicable to the Company with effect from April 1, 2023, and accordingly,
reporting under Rule 11(g) of Companies (Audit and Auditors) Rules, 2014 is not applicable
for the financial year ended March 31, 2023.
FOR D. LODHA & ASSOCIATES |
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CHARTERED ACCOUNTANTS |
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F.R.NO. 135606W |
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DINESRLODHA |
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PLACE : MUMBAI |
PROPRIETOR |
DATE : 30.05.2023 |
M. No. 401118 |
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UDIN: 23401118BGXKMY3298 |
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Annexure "A" to the Auditors Report
Referred to in Paragraph 1 under the heading "Report on Other Legal and Regulatory
Requirement" of our Report of even date to the Standalone Ind. AS financial
statements of Harmony Capital Services Limited for the year ended March 31, 2023)
We report That:
I. (a) The Company has maintained proper records showing full particulars, including
Quantitative details and situation of its Property, Plant and Equipment.
(b) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company has a regular programme of physical
verification of its Property, Plant and Equipment by which ail property, plant and
equipment are verified every year. In accordance with this programme, property, plant and
equipment were verified during the year. In our opinion, this periodicity of physical
verification is reasonable having regard to the size of the Company and the nature of its
assets. No discrepancies were noticed on such Verification.
(c) According to the information and explanations given to us, there are no immovable
properties included in Property, Plant and Equipment of the Company. Accordingly, it is
not applicable to the Company.
(D) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company has not revalued its Property,
Plant and Equipment (including Right of Use assets) and intangible assets during the year
(e) According to information and explanations given to us and on the basis of our
examination of the records of the Company, there are no proceedings initiated or pending
against the Company for holding any benami property under the Prohibition of Benami
Property Transactions Act, 1988 and rules made thereunder.
II. a. The Company is not a trading concern, primarily rendering other business
activities.
Accordingly, it does not hold any physical inventories. Thus, the paragraph of the
Order is not applicable
b. According to the information and explanations given to us and on the basis of our
examination of records, the Company has not been sanctioned working capital limits in
excess of 5 crores on the basis of security of curF^f^Mfifeiby banks and financial
sinstitutions during the year and hence reporting under Clause 3(ii)(b) of the Order is
not applicable to the Company.
III. According to the information and explanations given to us and on the basis of our
examination of the books of account, the Company has not granted any loans, secured or
unsecured, to companies, firms, Limited Liability Partnerships or other parties listed in
the register maintained under Section 189 of the Companies Act, 2013. Consequently, the
provisions of clauses iii (a), (b), (c), (d), (e) and (f)of the order are not applicable
to the
IV. During the year the company has not provided any loans, guarantees, advances and
securities to the director of the company and the company is compliant provisions of
section 185 and 186 of the Companies Act, 2013
V. The Company has not accepted any deposits or amounts which are deemed to be deposits
from the public. Accordingly, clause 3(v) of the Order is not applicable
VI. As per information & explanation given by the management, maintenance of cost
records has not been specified by the Central Government under sub-section (1) of section
148 of the Companies Act, 2013
VII. (a) The Company does not have liability in respect of Service tax, Duty of excise,
Sales tax
and Value added tax during the year since effective 1 July 2017, these statutory dues
have been subsumed into GST.
According to the information and explanations given to us and on the basis of our
examination of the records of the Company, in our opinion amounts deducted/accrued in the
books of account in respect of undisputed statutory dues including Goods and Services Tax
(GST}, Provident fund, Employees State Insurance, Income-Tax, Duty of Customs, Cess and
other statutory dues have been regularly deposited by the Company with the appropriate
authorities.
According to the information and explanations given to us and on the basis of our
examination of the records of the Company, no undisputed amounts payable in respect of
Goods and Services Tax (GST), Provident fund, Employees State Insurance, Income-Tax,
Duty of Customs, Cess and other statutory dues were in arrears as at 31
March 2023 for a period of more than six months from the date they became payable.
bJ.According to the information and explanations given to % Tamount payable in
respect of income tax, GST, service tax, Provident l^i^g^^^e^^tate insurance,
customs duty, and Cess whichever applicable, which have not been deposited on account
of any disputes
VIII. According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company has not surrendered or disclosed
any transactions, previously unrecorded as income in the books of account, in the tax
assessments under the Income Tax Act, 1961 as income during the year
IX. (a) According to the information and explanations given to us and on the basis of
our examination of the records of the Company, the Company has not defaulted in repayment
of loans and borrowing or in the payment of interest thereon to any lender.
(b) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company has not been declared a wilful
defaulter by any bank or financial institution or government or government authority
(c) According to the information and explanations given to us by the management, the
Company has not obtained any term loans during the year. Accordingly, clause 3(9)(c) of
the Order is not applicable.
(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 used for long-term purposes by the Company.
(e) According to the information and explanations given to us and on an overall
examination of the standalone 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 as defined under the Act.
(f) According to the information and explanations given to us and procedures performed
by us, we report that the Company has not raised loans during the year on the pledge of
securities held in its subsidiaries as defined under the Act.
X. (a) The Company has not raised any moneys by way of initial public offer or further
public offer (including debt instruments). Accordingly, clause 3(x)(a) of the Order is not
applicable.
(b) According to the information and explanations given to us and on the basis of 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. Accordingly, clause 3(x)(b) of the Order is not applicable
XI. (a) According to the information and explanations given to us, we report that no
fraud by the company or any fraud on the Company by its officers or employees has been
noticed or reported during the year.
(b) According to the information and explanations given to us, no report under
sub-section (12) of Section 143 of the Act has been filed by the auditors in Form ADT-4 as
prescribed under Rule 13 of the Companies (Audit and Auditors) Rules, 2014 with the
Central Government.
(c) As represented to us by the management, there are no whistle blower complaints
received by the Company during the year.
XII. According to the information and explanations given to us the company is not a
Nidhi Company. Therefore, clause (xii) of the order is not applicable to the company.
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 Companies Act, 2013
wherever applicable and the details have been disclosed in the Financial Statements etc.
as required by the applicable accounting standards (Ind AS).
XIV. (a). The company does have an internal audit system commensurate with the size and
nature of its business. Reports of the Internal Auditors for the period under audit were
considered by the statutory auditor
(b) We have considered the internal audit reports of the Company issued till date for
the period under audit.
XV. According to the information and explanations given to us and on the basis of our
examination of the records, the Company has not entered into any non-cash transactions
prescribed under Section 192 of the Act with directors or persons connected with them
during the year and hence provisions of section 192 of the Act are not applicable to the
Company
XVI. (a). The company is not required to be registered under section 45-IA of the
Reserve Bank of India Act, 1934
(b) The Company is not required to be registered under Section 45-IA of the Reserve
Bank of India Act, 1934. Accordingly, clause 3(xvi)(b) of the Order is not applicable.
(c) The Company is not a Core Investment Company (CIC) as defined ,in ^-.regulations
made
by the Reserve Bank of India. Accordingly, clause 3(xvi)(c) of the Or^Ms nc^^lfeable.
(d) The Company is not part of any group (as per the provisions of the Core Investment
Companies (Reserve Bank) Directions, 2016 as amended). Accordingly, the requirements of
clause 3(xvi)(d) are not applicable.
XVII. The company has not incurred cash losses during the financial year however there
was a loss Rs. 76,622/- in the immediately preceding financial year
xvm. There have been no resignation of the statutory auditor of the Company during the
year and hence reporting under Clause 3(xviii) of the Order is not applicable to the
Company.
XIX. According to the information and explanations given to us and on the basis of the
financial ratios, ageing and expected dates of realisation of financial assets and payment
of financial liabilities, other information accompanying the standalone financial
statements, 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 that the Company is not capable of meetingits 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. 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 failing 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. According to the information and explanations given to us and on the basis of our
examination of the records, there are no amounts unspent in respect of corporate social
responsibility towards ongoing or other than ongoing projects and hence reporting under
Clause 3(xx) (a) and (b) of the Order is not applicable to the Company.
FOR D. LODHA &. ASSOCIATES |
CHARTERED ACCOUNTANTS |
F.R.NO. 135606W |
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DINESH LODHA |
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PROPRIETOR |
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M. No. 401118 |
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UDIN: 23401118BGXKMY32y8 |
PLACE : MUMBAI |
DATE : 30.05.2023 |
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Annexure - B to the Independent Auditorsf Report
Report on the Internal Financial Controls with reference to the aforesaid standalone
financial statements under Clause CO of Sub-section 3 of Section 143 of the Companies Act,
2013
We have audited the internal financial controls with reference to standalone financial
statements of Harmony Capital Services Limited ("the Company") as of 31 March
2023 in conjunction with our audit of the standalone Ind. AS financial statements of the
Company for the year ended on that date.
Opinion
In our opinion, to the best of our information and according to the explanations given
to us, the Company has, broadly, in all material respects, an adequate internal financial
controls with reference to standalone financial statements and such internal financial
controls with reference to standalone financial statement were operating effectively as at
March 31, 2023, based on the internal control with reference to standalone financial
statement criteria established by the Company considering the essential Component 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.
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 (TCA1). 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 (hereinafter referred to as "the Act").
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
Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidafnse
Itok^^aim^he Standards on Auditing, issued by ICAI and deemed to be prescribed under
Sectiw\^l:^iW?f/\N 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 standalone Ind AS 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 with
reference to standalone financial statements.
Meaning of Internal Financial Controls over Financial Reporting
A Companys internal financial control with reference to standalone financial statement
is a process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of standalone 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
onlfacqgrdance 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 and
4. also provide reasonable assurance by the internal auditors through their internal
audit reports
given to the organization from time to time.
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.
FOR D. LODHA & ASSOCIATES |
CHARTERED ACCOUNTANTS |
F.R.NO. 135606W |
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DINESH LODHA |
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PROPRIETOR |
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M. No. 401118 |
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PLACE -. MUMBAI |
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DATE : 30.05.2023 |
UDIN: 23401118BGXKMY3298 |
+91-9892691696
