Inspirisys Solutions Ltd Auditors Report.
To the Members of Inspirisys Solutions Limited
(formerly known as Accel Frontline Limited)
Report on the Audit of the Standalone Financial Statements Opinion
1. We have audited the accompanying standalone financial statements of Inspirisys Solutions Limited (theCompany), which comprise the Balance Sheet as at 31 March 2019, the Statement of Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement and the Statement of Changes in Equity for the year then ended, and a summary of the significant accounting policies and other explanatory information, included the returns for the year ended on that date audited by the branch auditors of the Companys branch located at Singapore.
2. 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 (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) specifiedunder section 133 of the Act, of the state of affairs (financial position) of the Company as at 31 March 2019, and its profit (financialperformance including other comprehensive income), its cash flows and the changes in equity for the year ended on that date.
Basis for Opinion
3. We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Our responsibilities under those standards are further described in the Auditors Responsibilities 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 (ICAI) together with the ethical requirements that are relevant to our audit of the financialstatements 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 in which are obtained is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
4. Key audit matters are those matters that, in our professional judgment, 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 financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
5. We have determined the matters described below to be the key audit matters to be communicated in our report.
|Key Audit matter||How the matter was addressed in the audit|
|Fair value assessment of trade receivables||Our audit work included but was not restricted to:|
|The Company has reported trade receivables of र 17,706 lakhs as at 31 March 2019 and expected credit losses allowance of र 1,437 lakhs as detailed in note 12.||We obtained a detailed understanding of each operating segments revenue recognition and receivables provisioning policies, design of controls and how they are applied.|
|Due to customer profile, the Company has significant receivable balances that are past the credit period for the product as well as services operating segments. The management measures expected credit loss on its trade receivables using practical expedient as prescribed by Ind AS 109: Financial Instruments, which involves significant management judgements and estimates.||We tested the design and operating effectiveness of controls that the company has established in relation to revenue recognition.|
|On a sample basis, coupled with high value overdue invoices, we rolled out and obtained direct receivables confirmations from the customers of the company having outstanding receivable balances as at an interim date, for ensuring the acknowledgement of debt by the customer.|
|Considering the materiality of trade receivables balances to the Companys financial statements and the multiple estimates and judgements involved in the estimation of expected credit losses, this is considered as a key audit matter.||Where directconfirmations were not obtained, subsequent realization of the outstanding invoices and or customer acknowledgement of goods received or services rendered was assessed to ensure the acknowledgement of debt by the customer.|
|The expected credit loss model was tested for appropriateness of past data and provisioning matrix used and reasons for other long outstanding balances were also obtained from the management.|
|We also considered payments received subsequent to year- end, past payment history and unusual patterns to identify potentially impaired balances.|
|In addition,for receivables from subsidiaries, we have evaluated the reasonableness of managements estimates of future cash flows of the subsidiaries and recoverability includingperformingsensitivityanalysis on these cash flow estimates|
|Ensured appropriateness of disclosures made in the financial statements with respect to the trade receivables and provisioning thereof.|
|Our audit work included but was not restricted to:|
|As detailed in note 11, Inventory of र 1,000 lakhs as at 31 March 2019 comprise inventory pertaining to the services division amounts to र 791 lakhs, net. The inventory is valued at lower of cost and market value using weighted average cost method.||Obtaining a detailed understanding and evaluating the design and operating effectiveness of controls that the company has established in relation to inventory valuation at its services division.|
|Services division inventory comprise refurbished spares and defective spares that are either converted to refurbished spares of refurbished stock and comparing the values valuation in due course or scrapped. Refurbished spares and defective spares are valued at fair value which is based on past history of purchases of similar spares from the open market, market conditions and past history of conversion respectively.||Challenge the management assumptions to prices of similar refurbished spares purchased from the market.|
|Testingthe historical data pertaining to the conversion of defective stock to refurbished stock and/or scrapped to the estimation madeby the management.|
|Further, the company provides for obsolescence on the services division inventory based on the ageing of these inventory and the expected usage of these inventory in future periods. Since these involves significant management judgement and has an impact on the reported performance of the Company, they are considered as a key audit matter.||We have also analyzed the practice followed by services divisions of other companies in this industry.|
|Critically assessed the Companys inventory provisioning policy, with specific consideration given|
|Review the historical accuracy of inventory provisions and level of write-offs during the year.|
|Compare the net realizable value, obtained by review of gross margins in services division subsequent to year-end.|
|Ensured appropriateness of the disclosures made in the financial statements.|
|Impairment of Subsidiaries|
|Our audit work included but was not restricted to:|
|The management has noted impairment indicators due to the continued operating losses and negative net worth of the subsidiaries as at 31 March 2019. As detailed in note 2, management has estimated the recoverable value of the investment in subsidiaries.||Review of managements identification of indicators of impairment;|
|The recoverability of carrying value of investment in subsidiaries is considered an audit risk due to the involvement of significant estimates & judgements by the management in assessing the recoverable value of the investment. Due to the inherent uncertainty involved in forecasting and discounting future cash flows this is one of the key judgement areas for our audit and is therefore considered as a Key audit matter.||We have assessed the methodology used by the management to estimate the recoverable value of investment in subsidiaries, for which an impairment test was performed, to ensure that this is consistent with the requirements of the accounting standards;|
|Evaluated the subsidiarys budgeting procedures upon which the cash flow forecasts are based and reviewed historical accuracy of budgeting process;|
|Sensitivity analysis was performed on the calculations|
|Evaluated the discount rate and growth rate used in the estimation of recoverable value.|
|Ensured appropriateness of disclosures made in the financial statements|
Information other than the Financial Statements and
Auditors Report thereon
6. 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. The Annual Report is expected to be made available to us after the date of this auditors report.
Our opinion on the financial statements does not cover the other informationand we will not express any form of Auditing, we exercise professional judgment and maintain assurance conclusion thereon. In connectionwith our audit of the financial 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 financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.
When we read the Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance.
Responsibilities of Management and Those Charged with
Governance for the Standalone Financial Statements
7. The Companys Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect the preparation of these standalone financial statements that give a true and fair view of the state of affairs (financial other comprehensive income), changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Ind AS specifiedunder 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 preventingand detecting frauds and other irregularities; selectionand 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 completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error
8. In preparing the 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
9. Those Board of Directors are also responsible for overseeing the Companys financial reporting process.
Financial Auditors for the Audit of the Responsibilities Statements
10. 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 Standards on Auditing 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.
11. As part of an audit in accordance with Standards on professional skepticismthroughout the audit. We also: statements,
Identify 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.
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 Act, we are also responsible for explaining our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls. profit (financial performance including
Evaluate the appropriateness of accountingpolicies 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 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 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 concern. tocontinueasa
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financialstatements represent the underlying transactions and events in a manner that achieves fair presentation.
12. We communicate with those charged with governance so. regarding, among other matters, the planned scope and timing of the audit and any significant identify during our audit.
13. 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.
14. 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.
15. We did not audit the financial statement of Singapore branch included in the standalone financial statements of the Company whose financial statement reflects total assets and net assets of र 282 Lakhs and र 251 lakhs respectively as at 31 March 2019, and the total revenue and net cash inflows ofर 2,865 and र 47 that date, as Lakhs considered in the standalone financial statements. These financial statements have been audited by the branch auditors whose reports have beenfurnishedtousbythe reporting management, and our opinion on the standalone financial statements, in so far as it relates to the amounts and disclosures included in respect of branches, is based solely on the report of such branch auditors.
Further, the branch is located outside India whose financial statementsandotherfinancialinformationhave been prepared in accordance with accountingprinciples generally accepted in their respective countries and which have been audited by branch auditors under generally accepted auditing standards applicable in their respective countries. The Companys management has converted the financial statementsofsuchbranchfromaccounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Companys management.
Our opinion in so far as it relates to the amounts and disclosures of such branches is based on the report of branch auditors and the conversion adjustments prepared by the management of the Company and audited by us.
Our opinion on the standalone financialstatements, and our report on Other Legal and Regulatory Requirements below, is not modified in respect of the above matter.
Report on Other Legal and Regulatory Requirements
16. The company has not paid / provided for managerial remuneration during the year. Accordingly, reporting under section 197(16) of the Act is not
17. As required by the Companies (Auditors Report) Order, 2016 (the Order) issued by the Central Government of India in terms of section 143(11) of the Act, we give in the Annexure A a statement on the mattersspecifiedin paragraphs 3 and 4 of the Order.
18. Further to our comments in Annexure 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 purpose 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 and proper returns adequate for the purposes of our audit have been received from the branches not visited by us;
c) the reports on the accounts of the branch office of the Company audited under section 143(8) of the the branch auditor has been sent to us and have been properly dealt with by us in preparing this report;
d) the standalone financialstatements dealt with by this report are in agreement with the books of account and with the return received from the branch not visited by us;
e) in our opinion, the aforesaid standalone financial under section statements comply with Ind AS specified 133 of the Act;
f) on the basis of the written representations received from the directors and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2019 from being appointed as a director in terms of section 164(2) of the Act; g) we have also audited the internal financial controls over financial (IFCoFR) of the on 31 March 2019 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date and our report dated 09 May 2019 as per Annexure B expressed unmodified opinion;
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, as detailed in note 39 to the standalone financial statements, has disclosed the impact of pending litigations onits financial position
ii. the Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses as at 31 March 2019.
iii. 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 31 March 2019;
iv. the disclosure requirements relating to holdings as well as dealings in specified the period from 8 November 2016 to 30 December 2016, which are not relevant to these standalone financial statements. Hence, reporting under this clause is not applicable.
Annexure A to the Independent Auditors Report of even date to the members of Inspirisys Solutions Limited (formerly known as Accel Frontline Limited), on the standalone financial statements for the year ended 31 March 2019.
Based on the audit procedures performed for the purpose of reporting a true and fair view on the financial statements of the information theCompanyandtakingintoconsideration and explanations given to us and the books of account and other records examined by us in the normal course of audit, and to the best of our knowledge and belief, we report that:
(i) (a) The Company has maintained proper records showing full particulars, details and situation of fixed been physically verifiedby (b) The the management during the year and no material discrepancies were noticed our opinion, the frequency of assets is reasonable having regard to the size of the Company and the nature of its assets.
(c) The Company does not hold any immovable property (in the nature of fixed assets). Accordingly, the provisions of clause 3(i) (c) of the Order are not applicable.
(ii) In our opinion, the management has conducted physical verification of the year, except for goods-in-transit and stocks lying with third parties. For stocks lying with third parties at the year-end, written confirmations have been obtained the management. No material discrepancies were noticed on the aforesaid verification.
(iii) The Company has grantedof the cost records unsecured loans to companies covered in the register maintained under Section 189 of the Act; and with respect to the same: (a) in our opinion the terms and conditions such loans are not, prima facie, prejudicial to the companys interest.
(b) the schedules of repayment of the principal and the payment of the interest has not been stipulated and hence we are unable to comment as to whether repayments/receipts of the principal amount and the interest are regular;
(c) In the absenceofstipulated schedule of repayment of principal and payment of interest, we are unable to comment as to whether there is any amount which is overdue for more than 90 days and whether reasonable steps have been taken by the Company for recovery of principal amount and interest. Further, the loan advanced to Inspirisys Solutions IT Resources Limited (formerly Accel IT Resources Limited), a subsidiary company to amounting र 792 lakhs (including interest) has been written off year vide board approval dated 09 May 2019.
(iv) In our opinion, the Company has complied with the provisions of Sections 185 and 186 of the Act in respect including quantitative of loans, investments, guarantees and security. In our assets. opinion, the company has complied with the provisions of Section 186 except Section 186 (5) of the act relating to priorapprovalofpublicfinancialinstitutionsfor loans such verification. given to Inspirisys IT Resources Limited (formerly known as "Accel IT Resources Limited"), the maximum amount outstanding during the year is र 792 lakhs and the closing balances as at 31 March 2019 is Nil.
(v) In our opinion, the Company has not accepted any deposits within the meaning of Sections Act and the Companies (Acceptance of Deposits) Rules, 2014 (as amended). Accordingly, the provisions of clause 3(v) of the Order are not applicable.
(vi) We atreasonable intervalsduring have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of cost by (1) of Section 148 of the Act in recordsundersub-section respect of Companys products/services and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination with a view to determine whether they are accurate or complete. of grant of (vii) (a) The Company is regular in depositing undisputed statutory dues including provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable, have generally been regularly deposited to the appropriate authorities, though there has been a slight delay in a few cases. Further, no undisputed amounts payable in respect thereof were outstanding at the year-end for a period of more than six months from the date they became payable.
(b) The dues outstanding in respect of income-tax, sales-tax, service-tax, duty of customs, duty of excise and value added tax on account of any dispute, are as follows:
|Name of the statute||Nature of dues||Amount||Amount paid under Protest||Period to which the amount relates||Forum where dispute is pending|
|Kerala Value Added Tax Act, 2003||Tax||45||35||2007-08||Commissioner of Commercial Taxes|
|West Bengal Sales Tax Act, 1994||Tax||1||-||2001-02||Commercial Tax Officer|
|West Bengal Sales Tax Act, 1994||Tax and Interest||2||-||2003-04 and 2004-05||Assistant Commissioner|
|Jharkhand Value Added Tax, 2005||Penalty||1||-||2007-08||Joint Commissioner|
|Kerala Value Added Tax Act, 2003||Tax||1||-||2015-16||Assistant Commissioner (intelligence)|
|Uttar Pradesh Trade Tax Act, 1948||Tax||104||42||2010-11, 2011-12, 2012-13 and 2013-14||Deputy Commissioner|
|Uttar Pradesh Trade Tax Act, 1948||Tax||1||-||2002-03||Trade Tax Tribunal, Lucknow|
|Rajasthan Value Added Tax, 2003||Tax||4||-||2011-12||Assistant Commissioner|
|Kerala Value Added Tax Act, 2003||Tax and Penalty||128||-||2013-14 and 2014-15||Deputy Commissioner (Appeals)|
|Customs and Excise Act, 1964||Tax, Interest and Penalty||411||175||2014-15||CESTAT|
|Income Tax Act, 1961||Income Tax||848||-||2005-06 to 2007-08||High Court|
|Income Tax Act, 1961||Income Tax||327||-||2008-09||CIT(A), Chennai|
|Income Tax Act, 1961||Income Tax||231||-||2010-11||High Court|
|Income Tax Act, 1961||Income Tax||248||-||2012-13||Commissioner of Income Tax (Appeals)|
(viii) The Company has not defaulted in repayment of loans or borrowings to any bank or financial institution the year. The Company has no borrowings obtained from government and the Company did not have any outstanding debentures during the year.
(ix) The Company did not raise moneys by way of initial public offer or further public offer (including debt instruments) and did not have any term loans outstanding during the year. Accordingly, the provisions of clause 3(ix) of the Order are not applicable.
(x) No fraud by the Company or on the company by its officers or employees has been noticed or reported during the period covered by our audit.
(xi) The Company has not paid or provided for any managerial during remuneration. Accordingly, the provisions of Clause 3(xi) of the Order are not applicable.
(xii) In our opinion, the Company is not a Nidhi Company.
Accordingly, provisions of clause 3(xii) of the Order are not applicable.
(xiii) In our opinion all transactions with the related parties are in compliance with Sections 177 and 188 of Act, where applicable, and the requisite details have been disclosed in the financial statements etc., as required by the applicable Ind AS.
(xiv) During the year, the company has made preferential allotment of shares. In respect of the same, in our opinion, the company has complied with the requirement of
Section 42 of the Act and the Rules framed thereunder. Further, in our opinion, the amounts so raised have been used for the purposes for which the funds were raised.
During the year, the company did not make private placements of shares or preferential allotment or private placement of fully or partly convertible debentures.
(xv) In our opinion, the company has not entered into any non-cash transactions with the directors or persons connected with them covered under Section 192 of the
(xvi) The company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934.
Annexure B to the Independent Auditors Report of even date to the members of Inspirisys Solutions Limited (formerly known as Accel Frontline Limited), on the standalone financial statements for the year ended 31 March 2019 Independent Auditors Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (the Act)
1. In conjunction with our audit of the standalone financial statements of Inspirisys Solutions Limited (formerly known as Accel Frontline Limited) (the Company) as at and for the year ended 31 March 2019, we have audited reporting the internal financialcontrols over financial (IFCoFR) of the Company as at that date.
Managements Responsibility for Internal Financial Controls
2. The Companys Board of Directors is responsible for controls establishing and maintaining internal financial reporting based on the internal controls over financial criteria established by the Company considering the in the essential 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 the Companys business, including adherence to the Companys policies, the safeguarding of its assets, the preventionand detection of frauds and errors, the accuracy and completeness of the accounting the timely preparation ofreliablefinancialinformation, as required under the Act.
3. Our responsibility is to express an opinion on the Companys IFCoFR based on our audit. We conducted our audit in accordance with the Standards on Auditingissued by the Institute of Chartered Accountants of India (ICAI) and deemed to be prescribed under Section 143(10) of the Act, to the extent applicable to an audit of IFCoFR, and the Guidance Note on Audit of Internal Financial Controls
Over Financial Reporting (the Guidance Note) issued by the ICAI. 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 IFCoFR were established and maintained and if such controls operated material respects.
4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the IFCoFR and their operatingeffectiveness. Our audit of obtaining an understanding of IFCoFR, assessing the risk that a material weakness exists, and testing the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
5. We believe that the audit evidence we have obtained is sufficient and opinion on the Companys IFCoFR.
Meaning of Internal Financial Controls over Financial
6. A companys IFCoFR 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 include those policies and procedures criteria established that (1) by the 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 authorisations management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, disposition of the companys assets that could have a material effect on the financial statements.
Inherent Limitationsof Internal Financial Controls over Financial
7. Because of the inherent limitations of IFCoFR, 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 appropriatetoprovidea basisforouraudit evaluation of the IFCoFR to future periods are subject to the risk that the IFCoFR may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Basis of Qualified Opinion
8. In our opinion, the Company has, in all material respects, adequate internal financial controls over financial reporting and such controls were operating effectively companys as at 31 March 2019, based on the internal controls over IFCoFR financialreporting 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 Walker Chandiok & Co LLP
Firms Registration No.: 001076N/N500013
Sumesh E S
Membership No.: 206931
Date: 09 May 2019