To
The Members of
Nahar Spinning Mills Limited
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying financial statements of Nahar Spinning Mills 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,
("IndAS") 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 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 under the provisions of the Act and the Rules made there under,
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 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.
There is no key matters to be communicated in our report.
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 Boards
Report including annexures to the Boards Report and Management Discussion & Analysis
Report, but does not include the standalone financial statements and our auditors report
thereon. The Boards Report including annexures to the Boards Report and Management
Discussion & Analysis Report is expected to be made available to us after the date of
this auditors report.
Our opinion on the standalone financial statements does not cover the other information
and we will 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 identified above when it becomes available 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. When we read the Boards Report including
annexures to the Boards Report and Management Discussion & Analysis Report, if we
conclude that there is a material misstatement therein, we are required to communicate the
matter to those charged with governance, If there is no material misstatement, we will not
issue separate report in this regard.
Responsibilities of Management and Those Charged with Governance for the Standalone
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 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 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 skepticism 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
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 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 standalone financial statements
that, individually or in aggregate, makes it probable that the economic decisions of a
reasonably knowledgeable user of the standalone financial statements may be influenced. We
consider quantitative materiality and qualitative factors in (i) planning the scope of our
audit work and in evaluating the results of our work; and (ii) to evaluate the effect of
any identified misstatements in the standalone financial statements.
We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied
with relevant ethical requirements regarding independence, and to communicate with them
all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards. From the matters communicated with
those charged with governance, we determine those matters that were of most significance
in the audit of the financial statements of the 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, 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 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, no funds 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. As stated in Note 35 the standalone financial statements
(a) The final dividend proposed in the previous year, declared and paid by the Company
during the year is in accordance with Section 123 of the Act, as applicable.
(b) The Board of Directors of the Company have proposed final dividend for the year,
which is subject to the approval of the members at the ensuing Annual General Meeting. The
amount of dividend proposed is in accordance with section 123 of the Act, as applicable.
vi. 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.
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 Gupta Vigg & Co. |
|
Chartered Accountants |
|
Firm Regn.No.001393N |
| Dated: 30th May, 2023 |
(CA Vinod Kumar Khanna) |
| Place: Ludhiana |
Partner |
|
M.No.081585 |
|
UDIN: 23081585BGSDYQ4910 |
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 NAHAR SPINNING MILLS LIMITED of even
date)
Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of
Subsection 3 of Section 143 of the Companies Act, 2013 ("the Act")
We have audited the internal financial controls over financial reporting of NAHAR
SPINNING MILLS 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 under the Companies Act,2013.
Auditors Responsibility
Our responsibility is to express an opinion on the internal financial controls over
financial reporting of the Company based on our audit. We conducted our audit in
accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants
of India and the Standards on Auditing prescribed under Section143(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 over financial reporting, assessing the risk that a material
weakness exists, and testing and evaluating the design and operating effectiveness of
internal control based on the assessed risk. The procedures selected depend on the
auditors 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 over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external 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 Gupta Vigg & Co. |
|
Chartered Accountants |
|
Firm Regn.No.001393N |
| Dated: 30th May, 2023 |
(CA Vinod Kumar Khanna) |
| Place: Ludhiana |
Partner |
|
M.No.081585 |
|
UDIN: 23081585BGSDYQ4910 |
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 NAHAR SPINNING MILLS LIMITED of even
date)
To the best of our information and according to the explanations provided to us by the
Company and the books of account and records examined by us in the normal course of audit,
we state that: i. In respect of the Companys Property, Plant and
Equipment and Intangible Assets:
(a) (A) The Company has maintained proper records showing full particulars, including
quantitative details and situation of Property, Plant and Equipment.
(B) The Company has maintained proper records showing full particulars of intangible
assets.
(b) The Company has a program of physical verification of Property, Plant and Equipment
so to cover all the assets in a phased manner which, in our opinion, is reasonable having
regard to the size of the Company and the nature of its assets. Pursuant to the program,
certain Property, Plant and Equipment were due for verification during the year and were
physically verified by the Management during the year. According to the information and
explanations given to us, no material discrepancies were noticed on such verification.
(c) According to information and explanations given to us and based on the examination
of records of the company, conveyance deed etc., we report that, the title in respect of
self constructed buildings and title deeds of all other immovable properties, disclosed in
the financial statements 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.
ii. (a) The physical verification of inventory has been conducted at reasonable
intervals by the management and in our opinion, the coverage and procedure of such
verification by the management is appropriate. No discrepancies of 10% or more in the
aggregate for such class of inventory were noticed
(b) The Company has been sanctioned working capital limits in excess of Rs. 5 crore, in
aggregate, during the year, from banks on the basis of security of current assets. The
stock statements has been filed with banks by the company during the year are in agreement
with books of accounts of the company.
iii. The Company has made investments in, companies, firms, Limited Liability
Partnerships, and granted unsecured loans to other parties, during the year, in respect of
which:
(a) The Company has provided loans or advances in the nature of loans to one of its
related party named M/S Oswal Woollen Mills Limited for amounting to Rs.1000 Lacs during
the year. Balance of loan as on 31.03.2023 is NIL.
(b) In our opinion, the investments made and the terms and conditions of the grant of
loans, during the year are, prima facie, not prejudicial to the Companys interest.
(c) The company has not granted loans as per stipulation for repayment of principal and
interest of loan. Hence reporting under clause 3(iii)(c) is not applicable for the company
(d) In respect of loans granted by the Company, there is no overdue amount remaining
outstanding as at the balance sheet date.
(e) No loan granted by the Company which has fallen due during the year, has been
renewed or extended or fresh loans granted to settle the over dues of existing loans given
to the same parties.
(f) The Company has granted loan or any advances in the nature of loan repayable on
demand or without specifying any terms or period of repayment to one of its related party
named M/S Oswal Woollen Mills Limited for amounting to Rs. 1000 Lacs during the year. The
same loan is 100 % of the total loan provided by the company during the year.
In our opinion and according to the information and explanations given to us, the
Company has complied with the provisions of Sections 185 and 186 of the Act in respect of
grant of loans, making investments and providing guarantees and securities, as applicable.
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.
We have broadly reviewed the cost records maintained by the company pursuant to the sub
section (1) of section 148 of the Companies Act, specified by the Central Government and
are of the opinion that prima facie, the prescribed records have been maintained. We have,
however not made a detailed examination of cost records with a view to determine whether
they are accurate or complete.
According to the information and explanations given to us, in respect of statutory
dues:
a. The Company has generally been regular in depositing undisputed statutory dues,
including Provident Fund, Employees State Insurance, Income Tax, Goods and Service Tax,
Customs Duty, Cess and other material statutory dues applicable to it with the appropriate
authorities.
b. There were no undisputed amounts payable in respect of Provident Fund, Employees
State Insurance, Income Tax, Goods and Service Tax,
Customs Duty, Cess and other material statutory dues in arrears as at March 31,2023 for
a period of more than six months from the date they became payable.
c. Details of dues of Income Tax, Sales Tax, Service Tax, Excise Duty and Value Added
Tax which have not been deposited as at March 31,2023 on account of dispute are given
below:
Nature of the statute |
Nature of dues |
Forum where Dispute is Pending |
Period to which the Amount Relates |
Amount Rs. (in Lacs) |
| The Income Tax Act, 1961 |
Income Tax |
CIT (A), Ludhiana |
A.Y. 20112012 |
22.63 |
| The Income Tax Act, 1961 |
Income Tax |
CIT (A), Ludhiana |
A.Y 20152016 |
58.28 |
| The Income Tax Act, 1961 |
Income Tax |
CIT (A), Ludhiana |
A.Y 20162017 |
70.25 |
| Central Excise Act, 1944 |
Excise Duty |
High Court of Jabalpur |
F.Y. 20002003 |
17.47 |
| The Customs Act, 1962 |
Drawback |
High Court of Jabalpur |
F.Y. 20062007 |
0.93 |
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 has not defaulted in repayment of loans or other borrowings from
any lender.
(b) The Company has not been declared wilful defaulter by any bank or financial
institution or government or any government authority.
(c) According to the information and explanation given to us and based on examination
of records of the company, the Company has applied the term loans for the purpose for
which loans were obtained.
(d) On an overall examination of the 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) The company has not any subsidiary, joint ventures or associate company, hence
reporting under clause (ix)(e) and (f) is not applicable to the company
x. (a) The Company has not raised moneys by way of initial public offer or further
public offer (including debt instruments) during the year and hence reporting under 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) and hence
reporting under clause 3(x)(b) of the Order is not applicable.
xi. (a) According to information and explanation given to us, no fraud by the Company
and no 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. The same is also not required to file
(c) The management has represented us that no whistle-blower complaints has been
received by the Company during the year (and upto the date of this report)
xii. In our opinion and according to the information and explanations given to us, the
Company is not a nidhi company. Accordingly, paragraph 3(xii) of the Order is not
applicable.
xiii. According to the information and explanations given to us and based on our
examination of the records of the Company, transactions with the related parties are in
compliance with sections 177 and 188 of the Act where applicable and details of such
transactions have been disclosed in the Financial Statements as required by the applicable
Indian 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. According to the information and explanations given to us and based on our
examination of the records of the Company, the Company has not entered into any non-cash
transactions with directors or persons connected with them. Accordingly, paragraph 3(xv)
of the Order is not applicable.
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) According to information and explanations given to us, there is one core investment
company within the Group (as defined in the Core Investment Companies (Reserve Bank)
Directions, 2016).
xvii. The Company has not incurred cash losses during the financial year covered by our
audit and the 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
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. Company has no unspent amount under CSR at the end of the financial year, hence
reporting under clause 3(xx) (a) and (b) is not applicable to the company
|
For Gupta Vigg & Co. |
|
Chartered Accountants |
|
Firm Regn.No.001393N |
| Dated: 30th May, 2023 |
(CA Vi nod Kumar Khanna) |
| Place: Ludhiana |
Partner |
|
M.No.081585 |
|
UDIN: 23081585BGSDYQ4910 |
+91-9892691696
