To the Members of
Nidan Laboratories and Healthcare Limited
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of Nidan Laboratories and Healthcare Limited
("the Company"), which comprise the balance sheet as at 31st March, 2023, and
the statement of Profit and Loss, statement of cash flows for the year then ended, and
notes to the financial statements, including a summary of significant accounting policies
and other explanatory information.
In our opinion and to the best of our information and according to the explanations
given to us, the aforesaid financial statements give the information required by the Act
in the manner so required and give a true and fair view in conformity with the accounting
principles generally accepted in India, of the state of affairs of the Company as at March
31,2023, and profit and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified
under section 143(10) of the Companies Act, 2013. Our responsibilities under those
Standards are further described in the Auditors Responsibilities for the Audit of the
Financial Statements section of our report. We are independent of the Company in
accordance with the Code of Ethics issued by the Institute of Chartered Accountants of
India together with the ethical requirements that are relevant to our audit of the
financial statements under the provisions of the Companies Act, 2013 and the Rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with
these requirements and the Code of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most
significance in the audit of the financial statements for the year ended March 31,
2023.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 that there are no key audit matters to communicate in
our report
Other information
The Companys Management and Board of Directors are responsible for the other
information. The other information comprises the information included in the Companys
annual report, but does not include the financial statements and our auditors report(s)
thereon. The Companys annual report is expected to be made available to us after the date
of this auditors report.
Our opinion on the financial statements does not cover the other 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.
Management and Board of Directors Responsibilities for the 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 financial statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with the accounting
principles generally accepted in India, including the Accounting Standards specified under
section 133 of the Act. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding of the
assets of the Company and for 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 and Board of Directors are
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 the Board of Directors either intends to liquidate the Company
or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors is also responsible for overseeing the Companys financial
reporting process.
Auditors Responsibilities for the Audit of the Financial Statements
1. 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.
2. 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 control relevant to the audit in order to
design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i)
of the Act, we are also responsible for expressing our opinion on whether the company has
adequate internal financial controls with reference to 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 and Board of Directors
• Conclude on the appropriateness of Management and Board of Directors use of the
going concern basis of accounting in preparation of financial statements 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.
3. 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.
4. 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.
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 Companies
Act, 2013, we give in the Annexure "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, 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 financial statements dealt with by this Report are in agreement with the books
of account.
(d) In our opinion, the aforesaid financial statements comply with the Accounting
Standards as specified under Section 133 of the Act,.
(e) On the basis of the written representations received from the directors as on 31st
March, 2023 taken on record by the Board of Directors, none of the directors is
disqualified as on 31st March, 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 reference to
financial statements of the company and the operating effectiveness of such controls,
refer our separate report in Annexure B"
(g) 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, in our opinion and to the best of our
information and according to the explanations given to us:
i. The Company does not have any pending litigations as at March 31,2023 which would
impact its financial position.
ii. The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses.
iii. There were no amounts which were 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 performed 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. During the year the company has not declared any dividend.
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
3. With respect to the matter to be included in the Auditors Report under Section
197(16) of the Act:
In our opinion and according to the information and explanations given to us, the
remuneration paid by the Company to its directors during the current 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) of the Act which
are required to be commented upon by us.
Annexure "A"
To the Independent Auditors Report of even date on the Financial Statements of Nidan
Laboratories & Healthcare Limited for the year ended 31st March, 2023
(Referred to in paragraph 1, under Report on Other Legal & Regulatory Requirements
in the Independent Auditors Report)
(i) 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) As explained to us, the Property, Plant and Equipment have been physically verified
by the management in accordance with a phased programme of verification, which in our
opinion is reasonable, considering the size of the company and the nature of its assets.
There are no material discrepancies which have been noticed on such physical verification.
c) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the title deeds of immovable properties (other
than properties where the company is the lessee and the lease agreements are duly executed
in favour of the lessee) as disclosed in the financial statements are held in the name of
the Company.
d) According to the information and explanations given to us, the Company has not
revalued its property, plant and Equipment and its intangible assets. Accordingly, the
requirements under paragraph 3(i)(d) of the Order are not applicable to the Company.
e) According to the information and explanations given to us, no proceeding has been
initiated or pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules made thereunder. Accordingly, the
provisions stated in paragraph 3(i) (e) of the Order are not applicable to the Company.
(ii) a) The inventory has been physically verified at reasonable interval by the
management.
In our opinion, the coverage & procedure of such verification is appropriate. No
material discrepancies were noticed on such verification.
b) According to the information and explanations provided to us, the Company has been
sanctioned working capital limits in excess of Rs.5 crores from banks by hypothecation of
equitable mortgage of properties. Since the working capital limit has been secured by
equitable mortgage of properties there is no need to file quarterly return / statement
with such bank. Accordingly, the requirements under paragraph 3(ii) (b) of the Order are
applicable to the Company.
iii) a) According to the information explanation provided to us, the Company has
provided loans or provided advances in the nature of loans, or given guarantee, or
provided security to any other entity. The details of such loans or advances and
guarantees or security to subsidiaries, Joint Ventures , Associates and others are as
follows:
(Rs in lakhs)
| Particulars |
Guarantees |
Security |
Loans |
Advances in the nature of loan |
| Aggregate amount granted/provided during the year |
|
|
|
|
| Subsidiaries |
- |
- |
- |
- |
| Joint Ventures |
- |
- |
- |
- |
| Associates |
- |
- |
- |
- |
| Others |
- |
- |
122.98 |
- |
| Balance Outstanding as at balance sheet date in respect of above cases |
|
|
|
|
| Subsidiaries |
- |
- |
- |
- |
| Joint Ventures |
- |
- |
- |
- |
| Associates |
- |
- |
- |
- |
| Others |
- |
- |
283.21 |
3,224.35 |
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
loans / advances in the nature of loan given are, prima facie, not prejudicial to the
interest of the Company.
c) In case of the loans and advances in the nature of loan, schedule of repayment of
principal and payment of interest have not been stipulated. In the absence of stipulation
of repayment terms are unable to comment on the regularity of repayment of principal and
payment of interest.
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 explanation provided to us, the loan or advance in the
nature of loan granted has not fallen due during the year. Hence, the requirements under
paragraph 3(iii) (e) of the Order are not applicable to the Company.
f) According to the information explanation provided to us, the Company has not any
granted loans and / or advances in the nature of loans which are either repayable on
demand or without specifying any terms or period of repayment. Hence, the requirements
under paragraph 3(iii)(f) of the Order are not applicable to the Company.
iv) According to the information and explanations given to us and on the basis of our
examination of the records, the Company has not given any loans, or provided any guarantee
or security as specified under Section 185 of the Companies Act, 2013 and the Company has
not provided any guarantee or security as specified under Section 186 of the Companies
Act, 2013. Further, the Company has complied with the provisions of Section 186 of the
Companies Act, 2013 in relation to loans given.
v) The Company has not accepted any deposit or amounts which are deemed to be deposits.
Hence reporting under clause (v) of the Order is not applicable.
vi) According to the information and explanations given to us, the Central Government
has not prescribed the maintenance of cost records under Section 148(1) of the Companies
Act, 2013. Accordingly, clause 3(vi) of the Order is not applicable.
vii) a) According to the records of the Company, amount deducted/accrued in the books
of accounts in respect of the undisputed statutory dues including Provident Fund,
Employees State Insurance, Income tax, Sales tax, Service tax, Duty of Customs, Duty of
Excise, Value Added Tax, Goods & Service tax, Cess and other Statutory Dues to the
extent applicable to the Company, have been regularly deposited with the appropriate
authorities.. According to the information and explanations given to us, there are no
undisputed amount payable in respect of such statutory dues which have remained
outstanding as at 31st March, 2023 for a period more than six months from the date they
became payable except as given below Statement of Arrears of Statutory Dues Outstanding
for more than Six months and its subsequent payment is given below
(Rs in lakhs)
| Name of the statue |
Nature of dues |
Amount |
Period to which the amount related |
Due date |
Date of Payment |
Remarks if any |
| Income Tax Act 1961 |
Income Tax |
133.3825 |
FY 2021-2022 |
15-Mar-2022 |
Payment pending till signing of Balance sheet |
Delay in payment of undisputed dues |
| Income Tax Act 1961 |
Advance income
tax |
58.56 |
FY 2022-23 |
15-Sept-2022 |
" |
Advance tax for 1st & 2nd Qtr not paid |
b) According to the information and explanations given to us, there are no dues of
Income Tax, Sales Tax, Wealth Tax, Service Tax, Duty of Custom, Duty of Excise, Value
Added Tax, Goods and services Tax and cess which have not been deposited on account of any
dispute with the appropriate authorities.
viii) According to the information and explanations given to us, there are no
transactions which are not accounted in the books of account which have been surrendered
or disclosed as income during the year in Tax Assessment of the Company. Also, there are
no previously unrecorded income which has been now recorded in the books of account.
Hence, the provision stated in paragraph 3(viii) of the Order is not applicable to the
Company
ix) a) In our opinion and according to the information and explanations given to us,
the Company has not defaulted in repayment of loans or borrowings or in payment of
interest thereon to any lender.
b) 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 been declared a wilful
defaulter by any bank or financial institution or government or government authority.
c) In our opinion and according to the information explanation provided to us, no money
was raised by way of term loans. Accordingly, the provision stated in paragraph 3(ix)(c)
of the Order is not applicable to the Company.
d) According to the information and explanations given to us and on an overall
examination of the balance sheet of the Company, we report that no funds raised on
short-term basis have been used for long-term purposes by the Company.
e) According to the information explanation 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 an 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 securities, joint ventures or associate companies.
x) 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) 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 preferential
allotment or private placement of shares or fully or partly convertible debentures during
the year. Accordingly, clause 3(x)(b) of the Order is not applicable.
xi) a) Based on examination of the books and records of the Company and according to
the information and explanations given to us, considering the principles of materiality
outlined in Standards on Auditing, we report that no fraud by the Company or on the
Company has been noticed or reported during the course of the audit
b) According to the information and explanations given to us, no report under
sub-section (12) of Section 143 of the Act has been filed by the auditors in Form ADT-4 as
prescribed under Rule 13 of the Companies (Audit and Auditors) Rules, 2014 with the
Central Government.
c) As represented to us by the management, there are no whistle-blower complaints
received by the Company during the course of audit. Accordingly, the provisions stated in
paragraph (xi)(c) of the Order is not applicable to company.
xii) According to the information and explanations given to us, the Company is not a
Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable
xiii) In our opinion and according to the information and explanations given to us, the
transactions with related parties are in compliance with Section 177 and 188 of the Act,
where applicable, and the details of the related party transactions have been disclosed in
the financial statements as required by the applicable accounting standards
(xiv) a) Based on information and explanations provided to us and our audit procedures,
in our opinion, the Company has an internal audit system commensurate with the size and
nature of its business
b) We have considered the internal audit reports of the Company issued till date for
the period under audit
(xv) In our opinion and according to the information and explanations given to us, the
Company has not entered into any non- cash transactions with its directors or persons
connected to its directors and hence, provisions of Section 192 of the Act are not
applicable to the Company.
(xvi) The Company is not required to be registered under section 45-IA of the Reserve
Bank of India Act, 1934 and hence sub clauses (a) to (d) of this clause are not
applicable.
(xvii) The Company has not incurred cash losses in the current and in the immediately
preceding financial year
(xviii) There has been no resignation of the statutory auditors during the year.
Accordingly, clause 3(xviii) of the Order is not applicable.
(xix) According to the information and explanations given to us and on the basis of the
financial ratios, ageing and expected dates of realisation of financial assets and payment
of financial liabilities, 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 that the 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
Also refer to the Other Information paragraph of our main audit report which explains
that the other information comprising the information included in Companys annual report
is expected to be made available to us after the date of this auditors report.
xx) According to the information and explanations given to us, the provisions of
section 135 of the Act are not applicable to the Company. Hence, the provisions of
paragraph (xx)(a) to (b) of the Order are not applicable to the Company.
xxi) According to the information and explanations given to us, the Company does not
have any subsidiary / Associate/ Joint Venture. Accordingly, there is no preparation of
consolidated financial statements. Accordingly, the provisions stated in paragraph clause
3 (xxi) of the Order are not applicable to the Company.
Annexure "B" to the Independent Auditors Report on the financial statements
of Nidan Laboratories & Healthcare Limited for the year ended 31st March
2023.
Report on the Internal Financial Controls with reference to the aforesaid financial
statement under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013
("the Act")
(Referred to in para 2 (f) under ‘Report on Other Legal and Regulatory
Requirements sections of our report of even date)
Opinion
We have audited the internal financial controls with reference to financial statements
of Nidan Laboratories & Healthcare Limited ("the Company") as of 31 March
2023 in conjunction with our audit of the financial statements of the Company for the year
ended on that date.
According to the information and explanation given to us and based on our audit, in our
opinion, the company has generally maintained, in all material respects, an adequate
internal financial controls over financial reporting and such internal controls over
financial reporting were generally operating effectively as of 31st March 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. However certain areas needs further improvement such as
designing the " documentation on internal financial control" by way of
identifying significant accounts including the fixed asset accounting, incorporating the
process flow by which the aforesaid transactions are initiated, authorized, processed,
recorded and reported at all levels, supporting information, procedure how the system is
integrated at all levels to capture the transactions that relates to financial statement
and defining the control related to Information technology so as to full fill objectives
of control criteria established at company. However, our opinion is not qualified in above
respect.
Managements and Board of Directors Responsibilities for Internal Financial Controls
The Companys Management and the Board of Directors are responsible for establishing
and maintaining internal financial controls based on the internal financial controls with
reference to financial statements criteria established by the Company considering the
essential components of internal control stated in the Guidance Note. 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 Act.
Auditors Responsibility
Our responsibility is to express an opinion on the Companys internal financial
controls with reference to financial statements based on our audit. We conducted our audit
in accordance with the Guidance Note and the Standards on Auditing, prescribed under
Section 143(10) of the Act, to the extent applicable to an audit of internal financial
controls with reference to financial statements. 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 with reference to
financial statements were 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 with reference to financial statements and their
operating effectiveness. Our audit of internal financial controls with reference to
financial statements included obtaining an understanding of internal financial controls
with reference to 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
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 Companys internal financial controls with
reference to the financial statement.
Meaning of Internal Financial Controls with reference to the Financial statements
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 authorizations of
management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition of the
companys assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls with reference to Financial
Statements
Because of the inherent limitations of internal financial controls with reference to
financial statements, 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 with
reference to financial statements to future periods are subject to the risk that the
internal financial controls with reference to financial statements may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
| For R.K Chapawat & Co. |
| Chartered Accountants |
| Firm Reg. No: 101708W |
| Purnima Jain |
| Partner |
| Membership No :- 140032 |
| UDIN:- 23140032BGZUDF9716 |
| Place: Virar |
| Date: 26th May 2023 |
+91-9892691696
