TO THE MEMBERS OF
M/s JAI MATA GLASS LIMITED
Report on the Audit of the standalone financial statement
Opinion
We have audited the accompanying standalone financial statements of JAI MATA GLASS
LIMITED ("the
Company"), which comprise the Balance Sheet as at March 31, 2023, the Statement of
Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity
and the Statement of Cash Flows for the year then ended, and a summary of the significant
accounting policies and other explanatory information (hereinafter referred to 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, the profit and total
comprehensive income, changes in equity and its cash flows for the year ended on that
date.
Basis of Opinion
We conducted our audit of the standalone financial statements in accordance with the
Standards on Auditing specified under section 143(10) of the Act (SAs). Our
responsibilities under those Standards are further described in the Auditors
Responsibilities for the Audit of the Standalone financial statements section of our
report. We are independent of the Company in accordance with the Code of Ethics issued by
the Institute of Chartered Accountants of India (ICAI) together with the ethical
requirements that are relevant to our audit of the standalone financial statements under
the provisions of the Companies Act 2013 and the Rules made thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the
ICAIs Code of Ethics. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion on the standalone 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 standalone financial statements of the current period.
These matters were addressed in the context of our audit of the standalone financial
statements as a whole, and in forming our opinion thereon, and we do not provide a
separate opinion on these matters. We have determined the matters described below to be
the key audit matters to be communicated in our report.
S.no |
Key Audit Matter |
Auditors Response |
1. |
Assessment of contingent liabilities relating to litigations and claims |
Principal Audit Procedures |
|
See note no. 21 to the standalone financial statements |
1. We tested the effectiveness of controls around the recording and
re-assessment of contingent liabilities. |
|
|
2. We used our subject matter experts to assess the value of material
provisions in light of the nature of the exposures, applicable regulations and related
correspondence with the authorities |
|
|
|
|
|
3. We challenged the assumptions and critical judgements made by
management which impacted their estimate of the provisions required, considering
judgements previously made by the authorities in the relevant jurisdictions or any
relevant opinions given by the Companys advisors and assessing whether there was an
indication of management bias. |
|
|
4. We discussed the status in respect of significant provisions with the
Companys internal tax and legal team. |
|
|
5. We performed retrospective review of managem ent judgements relating
to accounting estimate included in the financial statement of prior year and comp ared
with the outcome. |
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 information included in the Management
Discussion and Analysis, Boards Report including Annexures to Boards Report, Business
Responsibility Report and sustainability 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 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 our knowledge
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.
Managements Responsibility for the Standalone 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 standalone financial statements that give a true and fair view of the financial
position, financial performance, total comprehensive income, changes in equity and cash
flows of the Company in accordance with the Ind AS and other accounting principles
generally accepted in India. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the
assets of the Company and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the standalone financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
In preparing the standalone financial statements, management is responsible for
assessing the Companys ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
The Board of Directors are 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 standalone
financial statements as a whole are free from material misstatement, whether due to fraud
or error, and to issue an auditors report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these standalone financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the standalone financial
statements, whether due to fraud or error, design and perform audit procedures responsive
to those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal financial controls 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 expressing our opinion on whether the
Company has adequate internal financial controls system with reference to standalone
financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by management.
Conclude on the appropriateness of managements use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the 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 standalone financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditors report. However, future events or conditions may cause the Company to cease to
continue as a going concern.
Evaluate the overall presentation, structure and content of the standalone financial
statements, including the disclosures, and whether the standalone financial statements
represent the underlying transactions and events in a manner that achieves fair
presentation.
Materiality is the magnitude of misstatements in the standalone financial statements
that, individually or in aggregate, makes it probable that the economic decisions of a
reasonably knowledgeable user of the 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 standalone financial statements
of the current period and are therefore the key audit matters. We describe these matters
in our auditors report unless law or regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we determine that a matter should not be
communicated in our report because the 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, we give in "Annexure A" a statement on the matters specified in paragraphs
3 and 4 of the Order, to the extent applicable.
2. As required by Section 143(3) of the Act, 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 our audit.
b) In our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive
Income, Statement of Changes in Equity and the Statement of Cash Flow dealt with by this
Report are in agreement with the relevant books of account.
d) In our opinion, the aforesaid standalone financial statements comply with the Ind AS
specified under Section 133 of the Act.
e) On the basis of the written representations received from the directors as on March
31, 2023 taken on record by the Board of Directors, none of the directors is disqualified
as on March 31, 2023 from being appointed as a director in terms of Section 164 (2) of the
Act.
f) With respect to the adequacy of the internal financial controls with refrence to
standalone financial statements of the Company and the operating effectiveness of such
controls, refer to our separate Report in "Annexure B".
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 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) which are required to be commented upon by
us.
h) With respect to the other matters to be included in the Auditors Report in
accordance with
Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended in our opinion
and to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations as at 31st
March 2023 on its financial position in its standalone financial statements refer note no.
21.
ii. The Company did not have any contracts including derivative contracts for which
there were any material foreseeable losses.
iii. There has been no delay in transferring amounts, required to be transferred, to
the Investor Education and Protection Fund by the Company.
iv. (a) The Management has represented that, to the best of its knowledge and belief,
no funds (which are material either individually or in the aggregate) have been advanced
or loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the Company to or in any other person or entity, including foreign
entity
("Intermediaries"), with the understanding, whether recorded in writing or
otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of the
Company ("Ultimate Beneficiaries") or provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries;
(b) The Management has represented, that, to the best of its knowledge and belief, no
funds (which are material either individually or in the aggregate) have been received by
the Company from any person or entity, including foreign entity ("Funding
Parties"), with the understanding, whether recorded in writing or otherwise, that the
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 any guarantee, security or the like
on behalf of the Ultimate Beneficiaries;
(c) 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 representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and
(b) above, contain any material misstatement.
v. 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 Khiwani and Co |
|
Chartered Accountants |
|
Firm Registration No. |
|
002589N |
|
Sd/- |
| Date: 11.04.2023 |
CA Rajesh Kumar Khiwani |
| Place: New Delhi |
Partner |
| UDIN : 23081792BGXLKB6127 |
Membership no. 081792 |
"ANNEXURE A" TO INDEPENDENT AUDITORS REPORT
(Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory
Requirements section of our report to the Members of Jai Mata Glass Limited of even date)
i) (a) (A) The Company is maintaining proper records showing full particulars,
including quantitative details and situation of property, plant and equipment.
(B) The company is maintaining proper records showing full particulars of intangible
assets
(b) As explained to us, all the property, plant and equipment have been physically
verified by the management during the year. No material discrepancies were noticed on such
verification.
(c) The Company does not own any immovable property and hence the said clause is not
applicable to the company.
(d) The Company has not revalued any of its Property, Plant and Equipment (including
right-of-use assets) and intangible assets during the year.
(e) No proceedings have been initiated during the year or are pending against the
Company as at March 31, 2023 for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder ii) (a) The Company
does not own any inventory and hence reporting under clause 3(ii)(a) of the Order is not
applicable to the company.
(b) The Company has not been sanctioned working capital limits in excess of 5 crore, in
aggregate, at any points of time during the year, from banks or financial institutions on
the basis of security of current assets and hence reporting under clause 3(ii)(b) of the
Order is not applicable. iii) During the year the Company has provided loans, advances in
the nature of loans, provided guarantee and security to companies as follows:
|
Security Deposit |
| Aggregate amount granted/ provided during the year |
Nil |
| - Others |
|
| Balance outstanding as at balance sheet date in respect of above case |
200.00 Lakhs |
| - Others |
|
(b) In our opinion, the investments made and the terms and conditions of the grant of
security deposit, during the year are, prima facie, not prejudicial to the Companys
interest.
(c) The company has not made any loans and advances in the nature of loans, hence the
question of schedule of repayment and payment of interest does not arise.
(d) ) In our opinion as the company has not made any loans and advances in the nature
of loans, hence the said clause is not applicable.
(e) As the company has not made any loans and advances in the nature of loans, hence
the said clause is not applicable.
(f) No loans are granted by the company, hence the said clause is not applicable
iv) The Company has complied with the provisions of section 185 to 186 of the Act in
respect of loans, investments, guarantees, and security, to the extent applicable.
v) The Company has neither accepted any deposits from the public nor accepted any
amounts which are deemed to be deposits within the meaning of sections 73 to 76 of the
Companies Act and the rules made thereunder, to the extent applicable. Accordingly, the
requirement to report on clause 3(v) of the Order is not applicable to the Company.
vi) The Central Government has not prescribed the maintenance of cost records under
section 148(1) of the Act in respect of activities carried out by the Company.
vii) (a) According to the information and explanations given to us, the Company has
been regular in depositing undisputed statutory dues including provident fund, investor
education and protection fund, employees state insurance, income-tax, Goods and Services
tax, customs duty, cess and other statutory dues applicable with the appropriate
authorities and there were following undisputed amounts payable by the Company in respect
of statutory dues, outstanding as at March 31, 2023, for a period of more than six than
months from the date they become payable:
b) According to the information and explanations given to us, the particulars of the
dues of excise duty, sales tax and provident fund, as at March 31, 2023 which has not been
deposited on account of disputes, are as follows:
S. No |
Name of the Statute |
Nature of the Due |
Period to which it pertains |
Form where dispute is pending |
Amount (Rs. in lakhs) |
1 |
Income Tax 1961 |
Tax on regular interest & interest |
AY.2017-18 |
CIT(Appeals) |
85.23* |
*The company had deposited Rs. Rs.17.05 lakhs against the said appeal viii) There were
no transactions relating to previously unrecorded income that have been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961
(43 of 1961).
ix) (a). The Company does not have any loans or borrowings from any lender. Hence
reporting under clause 3(ix)(a) of the order is not applicable.
(b) The Company has not been declared willful defaulter by any bank or financial
institution or government or any government authority.
(c) The Company has not taken any term loan during the year and there are no
outstanding term loans at the beginning of the year and hence, reporting under clause
3(ix)(c) of the Order is not applicable.
(d) On an overall examination of the standalone financial statements of the Company,
funds raised on short-term basis have, prima facie, not been used during the year for
long-term purposes by the Company
(e) On an overall examination of the standalone financial statements of the Company,
the Company has not taken any funds from any entity or person on account of or to meet the
obligations of its subsidiaries
(f) The company has not raised loans during the year on the pledge of securities held
in its subsidiaries, joint ventures or associate companies, hence reporting under clause 3
(ix) (f) is not applicable.
x) (a) The Company did not raise any money by way of initial public offer or further
public offer and term loans during the year.
(b) During the year, the Company has not made any preferential allotment or private
placement of shares or convertible debentures (fully or partly or optionally) and hence
reporting under clause 3(x)(b) of the Order is not applicable
xi) (a) No fraud by the Company and no material fraud on the Company has been noticed
or reported during the year.
(b) No report under sub-section (12) of section 143 of the Companies Act has been filed
in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014
with the Central Government, during the year and upto the date of this report.
(c) We have taken into consideration the whistle blower complaints received by the
Company during the year (and upto the date of this report), while determining the nature,
timing and extent of our audit procedures.
xii) The Company is not a Nidhi Company and hence reporting under clause (xii) of the
Order is not applicable.
xiii) In our opinion, the Company is in compliance with Section 177 and 188 of the
Companies Act, 2013 with respect to applicable transactions with the related parties and
the details of related party transactions have been disclosed in the standalone standalone
financial statements as required by the applicable accounting standards.
xiv) (a) In our opinion the Company has an adequate internal audit system commensurate
with the size and the nature of its business
(b) We have considered, the internal audit reports for the year under audit, issued to
the Company during the year and till date, in determining the nature, timing and extent of
our audit procedures
xv) In our opinion during the year the Company has not entered into any non-cash
transactions with its Directors or persons connected with its directors and hence
provisions of section 192 of the Companies Act, 2013 are not applicable to the Company
xvi) (a) In our opinion, the Company is not required to be registered under section
45-IA of the Reserve Bank of India Act, 1934. Hence, reporting under clause 3(xvi)(a), (b)
and (c) of the Order is not applicable.
(b) In our opinion, there is no core investment company within the Group (as defined in
the Core Investment Companies (Reserve Bank) Directions, 2016) and accordingly reporting
under clause 3(xvi)(d) of the Order is not applicable.
xvii) The Company has not incurred cash losses during the financial year covered by our
audit, however the company had incurred cash loss in immediately preceding financial year.
xviii) There has been no resignation of the statutory auditors of the Company during
the year.
xix) On the basis of the financial ratios, ageing and expected dates of realisation of
financial assets and payment of financial liabilities, other information accompanying the
standalone financial statements and our knowledge of the Board of Directors and Management
plans and based on our examination of the evidence supporting the assumptions, nothing has
come to our attention, which causes us to believe that any material uncertainty exists as
on the date of the audit report indicating that Company is not capable of meeting its
liabilities existing at the date of balance sheet as and when they fall due within a
period of one year from the balance sheet date. We, however, state that this is not an
assurance as to the future viability of the Company. We further state that our reporting
is based on the facts up to the date of the audit report and we neither give any guarantee
nor any assurance that all liabilities falling due within a period of one year from the
balance sheet date, will get discharged by the Company as and when they fall due.
xx) (a) The provisions of Corporate Social Responsibility (CSR) are not applicable to
the company and hence the reporting under clause 3(xx)(a) of the order is not applicable
on the company
(b) As the provisions of CSR are not applicable on the company and hence reporting
under clause 3(xx) (b) of the order is not applicable on the company.
xxi) As the provisions of consolidated standalone financial statements are not
applicable on the company, the reporting under clause (xxi) of the order is not applicable
on the company.
|
For Khiwani and Co. |
|
Chartered Accountants |
|
Firm Registration No. 002589N |
|
Sd/- |
| Date: 11.04.2023 |
CA Rajesh Kumar Khiwani |
| Place: New Delhi |
Partner |
| UDIN : 23081792BGXLKB6127 |
Membership no. 081792 |
"ANNEXURE B" TO INDEPENDENT AUDITORS REPORT
(Referred to in paragraph 2(f) under ‘Report on Other Legal and Regulatory
Requirements section of our report to the Members of Jai Mata Glass Limited of even date)
Report on the Internal Financial Controls under Clause (i) of sub-section 3 of the
section 143 of the Companies Act, 2013 ("the Act") We have audited the internal
financial controls with reference to standalone financial statements of Jai Mata Glass
Limited ("the Company") as of March 31, 2023, in conjunction with our audit
of the standalone financial statements of the Company for the year ended on that date.
Managements Responsibility for Internal Financial Controls
The Board of Directors of the Company is responsible for establishing and maintaining
internal financial controls based on ‘the internal control with reference to
standalone financial statements criteria established by the Company considering the
essential components of internal control stated in the Guidance note on Audit of Internal
Financial Controls With reference to standalone financial statements (Guidance Note)
issued by the Institute Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal financial controls that were
operating effectively for ensuring the orderly and efficient conduct of its business,
including adherence to Companys policies, the safeguarding of its assets, the 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 with
reference to standalone financial statements of the company based on our audit. We
conducted our audit in accordance with the Guidance Note on Audit of Internal Financial
controls with reference to standalone financial statements (the "Guidance note")
issued by the Institute of Chartered 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 control. Those Standards and the Guidance Note require that
we comply with ethical requirements and plan and perform the audit to obtain the
reasonable assurance about whether adequate internal financial controls with reference to
standalone financial statements was established and maintained and if such controls
operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of
the internal financial controls system with reference to standalone financial statements
and their operating effectiveness. Our audit of internal financial controls with reference
to standalone financial statements included obtaining an understanding of internal
financial controls with reference to standalone financial statements, assessing the risk
that a material weakness exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. The procedures selected
depend on the auditors judgment, including the assessment of the risks of material
misstatement of the standalone financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the internal financial controls system with
reference to standalone financial statements.
Meaning of Internal Financial Controls with reference to these standalone financial
statement.
A Companys internal financial control with reference to standalone financial
statements 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 with reference to standalone financial statements includes those
policies and procedures that (i) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of
the Company; (ii) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of standalone 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 (iii) 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 standalone financial statements.
Inherent Limitations of Internal Financial Controls With reference to standalone
financial statements Because of its inherent limitations of internal financial controls
with reference to standalone financial statements, including the possibility of collusion
or improper management override of controls, material misstatements due to error or fraud
may occur and not to be detected. Also, projections of any evaluation of the internal
financial controls with reference to standalone financial statements to future periods are
subject to the risk that the internal financial control with reference to standalone
financial statements may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, to the best of our information and according to the explanation given
to us, the Company has, in all material respects, adequate internal financial controls
with reference to standalone financial statements and such internal financial controls
were operating effectively as at 31st March 2023, based on the internal financial controls
with reference to standalone financial statements criteria established by the Company
considering the essential components of internal control stated in the Guidance Note on
Audit of Internal Financial Controls With reference to standalone financial
statements issued by the Institute of Chartered Accountants of India (the "Guidance
Note").
|
For Khiwani and Co. |
|
Chartered Accountants |
|
Firm Registration No. |
|
002589N |
|
Sd/- |
| Date: 11.04.2023 |
CA Rajesh Kumar Khiwani |
| Place: New Delhi |
Partner |
| UDIN : 23081792BGXLKB6127 |
Membership no. 081792 |
+91-9892691696
