To JAMSHRI REALTY LIMITED (Formerly known as The Jamshri Ranjitsinghji
Spg & Wvg Mills Co Ltd)
Report on the Audit of the Financial Statements Opinion
We have audited the accompanying financial statements of JAMSHRI REALTY
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 ended on that date, and a
summary of the significant accounting policies and other explanatory information
(hereinafter referred to as "the financial statements").
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 ("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 loss 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 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 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 independence requirements that
are relevant to our audit of the financial statements underthe provisions of the Act 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 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 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. We have determined the matters described below to be the key audit matters
to be communicated in our report.
| Sr. No. Key Audit Matter |
| 1 Key Audit Matter |
| Recoverability of Indirect tax receivables
As at March 31, 2023, other non-current assets in respect of Balance with
Government Authorities (Cenvat recoverable) amounting to 17.79 Lakh which are pending
adjudication.
Refer Note 8 to the Financial Statements. |
| Auditors Response |
| Principal Audit Procedures
We have involved our internal experts to review the nature of the amounts
recoverable, the sustainability and the likelihood of recoverability upon final
resolution. |
Information Other than the 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
and Shareholders 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.
In connection with our audit of the financial statements, our
responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our
knowledge obtained 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 Financial Statements
The Companys Board of Directors is responsible for the matters stated
in section 134(5) of the Act with respect to the preparation of these financial statements
thatgive a true and fairview of thefinancial 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 financial statements that
give a true and fair view and are free from material misstatement, whether due to fraud or
error.
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 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 Financial Statements
Our objectives are to obtain reasonable assurance about whether the
financial statements as a whole are free from material misstatement, whether due to fraud
or error, and to issue an auditors report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional
judgment and maintain professional scepticism throughout the audit. We also:
¦ 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.
¦ Obtain an understanding of internal financial controls
relevant to the audit in orderto 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 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 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 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
other matters, the planned scope and timing of the audit and significant audit findings,
including any significant deficiencies in internal control that we identify during our
audit.
We also provide those charged with governance with a statement that we
have complied with relevant ethical requirements regarding independence, and to
communicate with them all relationships and other matters that may reasonably be thought
to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we
determine those matters that were of most significance in the audit of the financial
statements of the current period and are therefore the key audit matters. We describe
these matters in our auditors report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we determine that a matter
should not be communicated in our report because the adverse consequences of doing so
would reasonably be expected to outweigh the public interest benefits of such
communication.
Report on Other Legal and Regulatory Requirements
1) As required by Section 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 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 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 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 and operating effectiveness of the Companys internal financial
controls 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.
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 on its
financial position in its 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) (a) The management has represented that, to the best of its
knowledge and belief, other than as disclosed in the notes to the accounts, no funds 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 entities ("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, other than as disclosed in the notes to the accounts, no funds have been
received by the company from any person or entity, including foreign entities
("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; and
(c) Based on audit procedures which we considered reasonable and
appropriate in the circumstances, nothing has come to their notice that has caused them to
believe that the representations under sub-clause (a) and (b) contain any material
mis-statement.
v) The company has not declared or paid any dividend during the year.
2) As required by the Companies (Auditors Report) Order, 2020
("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.
For Mittal & ASSOCIATES
Chartered Accountants Firm Registration number: 106456W Hemant Bohra
Partner
Membership number: 165667 UDIN: 23165667BGTIFL3703
Place: Mumbai Date: 8th May 2023
Annexure "A" to the Independent Auditors Report
(Referred to in paragraph 1(f) under Report on Other Legal and
Regulatory Requirements section of our report to the Members of JAMSHRI REALTY LIMITED of
even date)
Report on the Internal Financial Controls Over Financial Reporting
under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the
Act")
We have audited the internal financial controls over financial
reporting of JAMSHRI REALTY LIMITED ("the Company") as of March 31, 2023 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 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. 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 underthe 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 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 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 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 overfinancial
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 judgement, including
the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error.
We believe that the audit evidence we have obtained, is sufficient and
appropriate to provide a basis for our audit opinion on the internal financial controls
system over financial reporting of the Company.
Meaning of Internal Financial Controls Over Financial Reporting
A companys internal financial control overfinancial reporting 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 companys internal financial control over
financial reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts
and expenditures of the company are
being made only in accordance with authorisations of management and
directors of the company; and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorised acquisition, use, or disposition of the companys assets
that could have a material effect on the financial statements.
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.
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, 2023, 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.
For Mittal & ASSOCIATES
Chartered Accountants
Firm Registration number: 106456W
Hemant Bohra
Partner Place: Mumbai
Membership number: 165667 Date: 8th May 2023
UDIN: 23165667BGTIFL3703
Annexure B to the Independent Auditors Report
(Referred to in paragraph 2 under Report on Other Legal and Regulatory
Requirements section of our report to the Members of JAMSHRI REALTY LIMITED of even date)
1) In case of the Companys Property, Plant and Equipments and
Intangible Assets:
(a) 1. According to the information and explanations given to us, the
Company has maintained proper records showing full particulars, including quantitative
details and situation of fixed assets;
2. The Company does not have any intangible assets during the year
under audit. Therefore, the provisions of clause 3 (i)(a)(2) of the Order are not
applicable to the Company.
(b) The Fixed Assets have been physically verified by the management in
a phased manner which, in our opinion, is reasonable having regard to the size of the
company and nature of its assets. Pursuant to the program, a portion of the fixed asset
has been physically verified by the management during the year and no material
discrepancies between the books records and the physical fixed assets have been noticed.
(c) According to the information and explanations given to us and the
records examined by us and based on the examination of the registered sale deed provided
to us, we report that, the title deeds, comprising all the immovable properties of land
and buildings which are freehold, are held in the name of the Company as at the balance
sheet date.
(d) The Company has not revalued any of its Property, Plant and
Equipment 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.
2) (a) The management has conducted physical verification of inventory
at reasonable intervals during the year, in our opinion, the coverage and procedure of
such verification by the management is appropriate. As informed to us, any discrepancies
of 10% or more in the aggregate for each class of inventory were not noticed on such
verification.
(b) During the year, the Company has been sanctioned working capital
limits in excess of Rs. 5 crores, in aggregate, from banks on the basis of security of
Property of the Company and not on current assets. And hence, the Company is not require
to file quarterly returns or statements with such banks.
3) 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
investments, provided guarantee or security orgranted any advances in the nature of loans,
secured or unsecured, to companies, firms, limited liability partnerships or any other
parties during the year. The Company has granted deposits to two companies during the
year; details of the loan are stated in sub-clause (a) below. The Company has not granted
any loans, secured or unsecured, to firms, limited liability partnerships or any other
parties during the year.
(a) A. Based on the audit procedures carried on by us and as per the
information and explanations given to us, the Company has not granted any loans to
subsidiaries.
B. Based on the audit procedures carried on by us and as per the
information and explanations given to us, the Company has granted deposits to 2 parties
other than subsidiaries as below:
Particulars |
Amount (Rs. In Lakh) |
Aggregate amount during the year
- Others |
NIL |
Balance outstanding as at balance
sheet date -Other |
1191.81 |
(b) According to the information and explanations given to us and based
on the audit procedures conducted by us, we are of the opinion that the terms and
conditions of the deposits given are, prima facie, not prejudicial to the interest of the
Company.
(c) According to the information and explanations given to us and on
the basis of our examination of the records of the Company, in the case of deposits given,
the repayment of principal has been stipulated as repayable on demand.
(d) According to the information and explanations given to us and on
the basis of our examination of the records of the Company, there is no overdue amount for
more than ninety days in respect of loans given.
(e) According to the information and explanations given to us and on
the basis of our examination of the records of the Company, there is no loan given falling
due during the year, which has been renewed or extended or fresh loans given to settle the
overdues of existing loans given to the same party.
(f) 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 given any
loans either repayable on demand or without specifying any terms or period of repayment.
4) In our opinion and according to the information and explanations
given to us, the company has complied with the provisions of Section 185 and 186 of the
Companies Act, 2013 In respect of loans, investments, guarantees, and security.
5) The Company has not accepted deposits during the year and does not
have any unclaimed deposits as at March 31, 2023 and therefore, the provisions of the
clause 3 (v) of the Order are not applicable to the Company.
6) We have broadly reviewed the books of accounts maintained by the
Company in respect of products where pursuant to the Companies (Cost Records and Audit)
Rules, 2014, as amended and prescribed by the Central Government under section 148(1) of
the Act. We are of the opinion, that prima facie the prescribed accounts and records have
been maintained by the Company. The contents of these accounts and records have not been
examined by us.
7) (a) According to information and explanations
given to us and on the basis of our examination of the books of account, and records, the
Company has generally been regular in depositing undisputed statutory dues including
provident fund, employees state Insurance, Income-Tax, Goods and Services Tax and any
other material statutory dues applicable to it with the appropriate authorities.
(b) According to the information and explanations given to us, no
undisputed amounts payable in respect of the above were in arrears as at March 31, 2023
for a period of more than six months from the date on when they become payable.
(c) According to the information and explanation given to us, there are
no dues of Income Tax, Goods and Services Tax, duty of customs outstanding on account of
any dispute.
8) According to the information and explanations given to us and
the records of the Company examined by us, there are no transactions in the books of
account that has been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961, that has not been recorded in the books of
accou nt.
9) (a) According to the records of the Company examined by us and the
information and explanations given to us, the Company has not defaulted in repayment of
loans or other borrowings or in the payment of interest to any lender during the year.
(b) According to the information and explanations given to us and on
the basis of our audit procedures, we report that the Company has not been declared
Willful Defaulter by any bank or financial institution or government or any government
authority.
(c) In our opinion, and according to the information and explanations
given to us, the term loans have been applied, on an overall basis, for the purposes for
which they were obtained.
(d) On an overall examination of the financial statements of the
Company, 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 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, associates or joint ventures.
(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, joint ventures or associate
companies.
10) (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) During the year, the Company has not made any preferential
allotment or private placement of shares or convertible debentures (fully or partly or
optionally)
11) (a) Based upon the audit procedures performed and the information
and explanations given by the management, we report that no fraud by the Company or on the
Company by its officers or employees 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 up to the date of
this report.
(c) The company has not received any whistle blower complaints during
the year (and up to the date of this report).
12) In our opinion, the Company is not a Nidhi Company. Therefore, the
provisions of clause 3 (xii) of the Order are not applicable to the Company.
13) In our opinion, all transactions with the related parties are in
compliance with section 177 and 188 of Companies Act, 2013 and the details have been
disclosed in the Financial Statements as required by the applicable accounting standards.
14) (a) In our opinion the Company has an adequate internal auditsystem
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.
15) Based upon the audit procedures performed and the information and
explanations given by the management, the company has not entered into any non-cash
transactions with directors or persons connected with him. Accordingly, the provisions of
clause 3 (xv) of the Order are not applicable to the Company and hence not commented upon.
16) (a) In our opinion, the Company is not required to be registered
under section 45-IA of the Reserve Bank of India Act, 1934. Flence, reporting under clause
3(xvi)(a) of the Order is not applicable.
(b) The Company has not conducted non-banking financial / housing
finance activities during the year. Accordingly, the reporting under Clause 3(xvi)(b) of
the Order is not applicable to the Company.
(c) The Company is not a Core Investment Company (CIC) as defined in
the regulations made by the Reserve Bank of India. Accordingly, the reporting under Clause
3(xvi)(c) of the Order is not applicable to the Company.
(d) 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 applicabla.
17) The Company has incurred cash losses during the financial year
covered by our audit and the immediately preceding financial year. The amount of cash
losses is as under:
Particular |
2022-23 |
2021-22 |
Net Loss |
(419.07) |
(579.28) |
Add : Non Cash Item |
61.97 |
129.01 |
Cash Loss |
(357.1) |
(450.27) |
18) There has been resignation of the statutory auditors of the Company
due to rotation during the year. There were no issues, objections or concerns raise by
outgoing auditor.
19) On the basis of the financial ratios, ageing and expected dates of
realization of financial assets and payment of financial liabilities, other information
accompanying the 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.
20) The provisions of Section 135 towards corporate social
responsibility are not applicable on the company. Accordingly, the provisions of clause
3(xx) of the Order is not applicable.
21) The reporting under clause (xxi) is not applicable in respect of
audit of financial statements of the Company. Accordingly, no comment has been included in
respect of said clause underthis report.
For Mittal & ASSOCIATES
Chartered Accountants
Firm Registration number: 106456W
Hemant Bohra
Partner Place: Mumbai
Membership number: 165667 Date: 8th May 2023
UDIN: 23165667BGTIFL3703
+91-9892691696
