Inani Securities Ltd Directors Report.

To,

The Member of,

Inani Securities Limited.

Opinion:

We have audited the accompanying financial statements of Inani Securities Limited ("the Company") which comprise the Balance Sheet as on 31st March 2020, the statement of Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement and the Statement of changes in Equity for the year ended, and 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 Companies Act,2013 in the manner so required and given a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (India 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 2020, and profit and total comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion:

We conducted our audit of the financial statements 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 financial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by Institute of Charted Accountants of India together with the independence requirements that are relevant to our audit of the financial statements under the provision of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with their requirements and the Code of Ethics. We believe that audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the financial statements. •

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 matter were addressed in the context of our audit of the financial statements as a whole, and forming our opinion thereon, and we do not provided a separate opinion on these matters.

Information other than the Financial Statements and Auditors Report There on:

The Companys Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the management discussion and analysis, Boards Report-including annexure to Boards Report, Business Responsibility report, Corporate Governance and Share Holders information, 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.

b) In our opinion, proper books of account as required by law have kept by 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, Statement of changes in Equity and the Statement of Cash Flow dealt with this Report are in agreement with the relevant books of account.

d) In our opinion the aforesaid financial statements Comply with the Ind AS specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) rules, 2014.

e) On the basis of the written representations received from the directors as on March 31st 2020 taken on record by the Board of Directors, none of the directors is disqualified as on March 31st 2020 from being appointed as director in terms of Section 164(2) of 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 A ". Our report expresses an unmodified opinion on the adequacy effectiveness of the Companys internal financial control 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.

1. 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 the Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements.

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

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education .

and Protection Fund by the Company. *

iv. The disclosure requirements relating to holding as well as dealing in specified bank note were applicable for the period from 8th November 2016 to 30th December 2016, which are not relevant to these financial statements. Hence reporting under this clause is not applicable.

2. As required by the Companies ( Auditors Report ) Order, 2016, ( "the Order") issued by the Central Government in terms of Section 143 (11) of the Act, we give in " Annexure B" a statement on the matters specified in paragraphs 3 and 4 of the Order.

Sd/-
For Jeedigunta & Co.
Chartered Accountant
Firm Regd No. 001322S
J. Prabhakar
Place: Hyderabad Proprietor
Date: 31/07/2020 Membership No. 026006

• Obtain an understating of internal financial controls relevant to audit in order to design audit procedures that are appropriate in the circumstances, Under Section 143(3) (i) of the Act, responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimate 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 uncertainly exists related to events or conditions that may cast significant doubt on the Companys ability to continue as going concern. If we conclude that a material uncertainty exist, 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 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 financial statements, including the

disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Materiality is the magnitude of misstatements in the 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 financial statements. *

We communicate with those charged with governance regarding, among matter, 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 matter that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matter 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 143(3) of the Act, based on our audit 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 audit.

Meeting of Internal Financial Controls over Financial Reporting:

A Companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purpose 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 details, accurately and fairly reflect the transactions and disposition of 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 managements 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.

Limitations of Internal Financial Controls over Financing 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 the financial reporting to future periods are subject to 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 polices or procedures may deteriorate.

Opinion:

In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31,2020, based on internal control over financial reporting criteria established by 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.

Sd/-
For Jeedigunta &Co.
Chartered Accountant
. Firm Regd No. 001322S
J. Prabhakar
Place: Hyderabad Proprietor
Date: 31/07/2020 Membership No. 026006

Annexure A to the Independent Auditors Report

(Referred to in paragraph 1 (f) under Report on Other Legal and Regulatory Requirement Section of our Report of even Date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub- Section 3 Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of INANI SECURITIES LIMITED ("the Company") as of March 31st 2020 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls:

The Board of Directors of the Company is responsible for establishment and maintaining internal financial controls based on the internal control over financial reporting criteria established by 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 Charted Accounts 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 respective companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. .

Auditors Responsibility:

Our responsibility is to express an opinion on the internal financial controls over financial reporting of the Company 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") issued by Institute Of Charted Accountants of India 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 control over financial reporting was established and maintained and if such control operated effectively in ail 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 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 internal financial controls systems over financial reporting of the Company.

has not paid undisputed Income Tax Liability of the Assessment year 2003-04 amounting to Rs. 4,08,360/- and which was outstanding for more than six months at the Balance Sheet date,

b) According to the information and explanations given to us and the records of the company examined by us, there are no material dues relating to Income Tax/ Goods and Services tax/ duty of customs / Cess which have not been deposited on account of disputes with the related authorities.

(viii) . Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the company has not defaulted in repayments of dues to any financial institutions or Banks.

(ix) . The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the year. In our opinion and accordance to the information and explanations given to us. The term loans have been applied by the Company during the year for the purpose for which they were obtained.

(x) . To the best of our knowledge and according to the information and explanations given to us, no fraud by the company and no material fraud on the Company by its officers or employees has noticed or reported during the year.

(xi) . In our opinion and according to the information and explanations given to us, the Company has paid/ provided managerial remuneration in accordance with the requisite approval mandated by the provisions of section 197 read with the schedule V to the Companies Act, 2013.

(xii) . The Company is not a Nidhi Company and hence reporting under clause (xiii) of the Order is not applicable.

(xiii) . In our opinion and according to the information, and explanations given to us the company is in compliance with section 177 and 188 of the Companies Act, 2013, where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the financial, statement etc., as required by the applicable accounting statements.

(xiv) During the year the Company has not made any preferential allotment or private placement of share or fully or partly convertible debentures and hence reporting under clause (xv) of the order is not applicable to the Company.

(xv) . In our opinion and accordance to the information and explanation given to us, during the year the company has not entered into any non-cash transactions with its directors or directors of its holding, subsidiary, or associate company or persons connected with them and hence provisions of section 192 of the Companies Act, 2013 are not applicable.

(xvi) . The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.

5Q/-
- For Jeedigunta & Co.
Chartered Accountant
Firm Regd No. 001322S
i. Prabhakar
Place: Hyderabad Proprietor
Date: 31/07/2020 Membership No. 026006

Annexure B to the Independent Auditors Report (Referred to in paragraph 2 under Report on Other legal and Regulatory Requirements Section of our report of even date).

(i) (a). The Company has maintained proper records showing full particulars including quantitative details and

situation of fixed assets.

(b) . The fixed assets were physically verified during the year by the Management in accordance with a

regular programme of verification which, in our opinion, provide for physical verification of all the Fixed assets at reasonable intervals. According to the information and explanations given to us, no material discrepancies were noticed on such verification.

(c) . According to the information and explanations given to us and the records examined by us based on

the examination of the registered Sale deed/ transfer deed/ conveyance deed provided to us, we report that, the title deeds, comprising all the immovable properties of land and buildings which are held in the name of the Company as at the balance sheet date.

(ii) . As explained to us, the inventories were physically verified during the year by the Management at

reasonable intervals and no material discrepancies were noticed on physical verification.

(iii) . The Company has granted loan to one body corporate covered in the registered maintained under Sec. 189 of the Companies Act,2013 ( "The Act").

a. In our opinion the rate of Interest and other terms and conditions on which the loans have been granted to body corporate listed in the register maintained under Sec. 189 of the Act are not, prima facie, prejudicial to the Interest of the Company.

b. In Case of loans granted to the body corporate listed in the register maintained under Sc.189 of Act, the borrowers have been regular in the payment of principal and interest as stipulated. *

c. There are no overdue amounts in respects of loan granted to the body corporate listed in the register maintained under Sec. 189 of Act.

(iv) . In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of sections 185 and 186 of the Companies Act, 2013 in respect of grant of loans, making investments and providing guarantees and securities, as applicable.

(v) . According to the information and explanations given to us, the Company has not accepted any deposit during the year. In respect of unclaimed deposits, the Company has complied with the provisions of Sections 73 to 76 or any other relevant provisions of the Companies Act, 2013.

(vi) . The Central Government has not prescribed the maintenance of the cost records under section 148 (1) of the Companies Act, 2013 for any of the goods dealt in by the Company.

(vii) . According to the information and explanations given to us, in respect of statutory dues:

, a) The Company has been regular in depositing undisputed statutory dues, including Provident Fund, Employees State Insurance, Income- tax, Goods and Services Tax, Cess and other material statutory dues applicable to it with the appropriate authorities.

These were no undisputed amounts payable in respect of provident Fund, Employees State Insurance, Income- tax, Goods and Services Tax, Cess and other material statutory dues in arrears as at 31 March 2020, for a period of more than six months from the date they become payable. However the company