penta gold ltd Auditors report

To

The Members of PENTA GOLD LIMITED

Report on the Audit of the Standalone financial statements Qualified Opinion

We have audited accompanying Standalone Standalone financial statements of Penta Gold Limited ("the Company"), which comprise the Balance Sheet as at 31st March 2021, the statement of Profit and Loss and the cash flow statement for the year then ended on 31st March 2021 , and a summary of significant accounting policies and other explanatory information (hereinafter referred to as "the Standalone financial statements")

In our opinion and to the best of our information and according to the explanations given to us, except for the possible effects of the matters described in the Basis for Qualified Opinion section of our report, the aforesaid Standalone financial statements give the information required by the Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the State of Affairs of the Company as at 31 March 2021 and Statement of Profit & Loss and its Cash Flow Statement for the year ended on that date.

Basis for Qualified Opinion

As explained in note 23.12. to the Standalone financial statements, amongst the total inventory worth 262.28 crores as on 31st March 2021, majority of Inventories were lying with the third parties for which confirmation was obtained by the management.

Since these stocks were lying with the third parties we were not able to physically verify the Inventories and hence in absence of the physical verification of the Inventories we are unable to comment upon the condition & existence of the Inventory based on third party confirmations and hence we are unable to comment on the impact, if any, of the same on the accompanying Standalone financial statements.

We conducted our audit of the Standalone financial statements in accordance with the standards on Auditing specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Standalone financial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the Standalone financial statements under the 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 Standalone financial statements.

Emphasis of Matter

(Rs in 000"s except otherwise mentioned specifically)

i. We draw attention to following points as mentioned in note 23.8. "Secured Loans" to the accompanying Standalone financial statements regarding Secured loans

w.r.t repayment of overdrawn account and further no interest has been debited by axis bank for ail the facilities from the month of December 2020, moreover on 09^,h April 2021 bank has matured FD of ? 4320.00 which was given as collateral security against the said facilities at ? 5692.95 (including accrued interest of ? 1372.95)

b. Facilities with SBI Bank

The Cash Credit facility has been overdrawn by ? 1010.89 as at 31-03-2021,The company have accepted offer for restructuring through additional limit for the said facility vide letter dated 22^nd June 2021 in accordance with RBI guidelines dated 05^th May 2021, which is still pending with the State Bank of India

The Guaranteed Emergency Credit Line facility has been overdrawn by ? 100.56 as at 31-03- 2021,The company have accepted offer for restructuring through rescheduling of term loan for the said facility vide letter dated 22^nd June 2021 in accordance with RBI guidelines dated 05^th May 2021 which is still pending with the State Bank of India

c. Facilities with karur Vvsva Bank

All the facilities with Karur Vysya bank (i.e. Cash Credit Facility & Funded Interest Term Loan) are classified as NPA w.e.f. 23^rd March 2021 on account of irregularities w.r.t repayment of overdrawn account further Karur Vysya Bank has initiated proceeding u/s 13(2) of SARFAESI Act through notice dated 09^th June 2021 directing to pay the entire outstanding amount within 60 days of receipt of notice to which company is in process to submit its reply

d. Loan Outstanding of ICICI Bank - Export Packing Credit

The said facility has been cancelled on 06^th March 2020 duly maturing all the FDs lien due to non- compliance with terms & conditions with credit arrangement letter. Accordingly, all the requisite provisions for Interest, Cancellation of Forward Contracts & other charges was already made in last year ended March 2020 and further bank has already called for outstanding balance of ? 1975.00 which is outstanding as at 31^st March 2021 to which company is in process of complying

ii. We draw attention to note 23.11. to the accompanying Standalone financial statements regarding the delays in fulfilling the export obligation of total 758.37 kg Imported raw gold beyond the timelines stipulated under Advance Authorisation obtained from DGFT, The Company is under proceeding for the said matter with Chief Commissioner of Customs.

iii. We draw attention to note 23.13. to the accompanying Standalone financial statements regarding the delay in payment of foreign currency against Imports worth ? 12,46,933.75 which has been outstanding for more than permissible limits, for which the company has made application to authorized dealer to regularize the same.

iv. We draw attention to note 23.14. to the accompanying Standalone Financial Statements regarding the delays in receipt of proceeds denominated in foreign currency against export of goods made by the Company to its overseas customers aggregating to ? 14,61,547.13 which have been outstanding for more than permissible limits. The Company is in process of filling necessary applications to authorize dealer/ Reserve Bank of India to regularize the same and further company is regularly following up with the customers to realize the export proceeds at earliest.

Our opinion is not modified in respect of the above matter.

Key Audit Matters

(Rs in 000"s except otherwise mentioned specifically)

This section of our auditors report is intended to describe the matters selected from those communicated with those charged with governance that, in our professional judgment, were of most significance in our audit of the Standalone financial statements of the current period. These matters were addressed in the context of our audit of the Standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

In addition to the matters described in the Basis for Qualified Opinion & Emphasis of matter paragraph, we have determined the matters described below to be the key audit matters to be communicated in our report

Description of Key Audit Matters:

The Key Audit Matter	How our audit addressed the key audit matter
Recognition of Foreign Exchange Gain/Loss
The company has recorded ? 19,275.08 as Net Foreign Exchange gain from Monetary Items during the year. The company is subject to foreign exchange fluctuation risk	Our Procedures Included:
	Assessing the effectiveness of the controls relating to the recognition of foreign currency transactions
As detailed in Significant Accounting Policies, described in note J, transactions in foreign currencies are recorded at actual rate on the date of transaction
	Assessing all the hedging practices for foreign currency exposures through execution / cancellation of Forward Contracts
Monetary items denominated in foreign currencies at the end of the period are restated at the exchange rate prevailing at the end of period.	Assessing the adequacy of disclosure in note J of Significant accounting policies & note no 23.9. of other notes with respect to the disclosure requirements as per Financial Reporting Framework
Any income or expense on account of exchange difference either on settlement or on translation is recognized in the Statement of Profit and Loss.

Information Other than the Standalone financial statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Boards Report including Annexures to Boards Report but does not include the Standalone financial statements and our auditors report thereon,

Our opinion on the Standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is no a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Managements Responsibility for the Standalone financial statements

The Companys Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation of these Standalone 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, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Companys financial reporting process.

Auditors Responsibility for the Audit of the Standalone financial statements

Our objectives are to obtain reasonable assurance about whether the Standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the Standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Standalone financial statements, including the disclosures, and whether the Standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on other Legal and regulatory Requirements

1. As required by Section 143 (3) of the Act, we report that:

(a) Except for the matters stated in basis for qualified opinion paragraph 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) Except for the matters stated in basis for qualified opinion paragraph 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 and the Cash flow statement dealt with by this Report are in agreement with the books of accounts;

(d) Except for the matters stated in basis for qualified opinion paragraph In our opinion, the aforesaid Standalone financial statements comply with the Accounting Standards 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 31^st March, 2021 taken on record by the Board of Directors, none of the directors is disqualified as on 31^s March, 2021 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;

(g) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of Companies (Audit and Auditors) Rules 2014, in our opinion and to the best of our information and according to the explanation given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its Standalone financial statements - Refer to Note 23.10. to the Standalone financial statements;

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. The question of delay in transferring such sums does not arise.

2. As required by the Companies (Auditors Report) Order, 2016 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the AnnexureB a statement on the matters specified in the paragraph 3 and 4 of the Order.

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 Penta Gold 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 Penta Gold Limited ("the Company") as of 31^st March, 2021 in conjunction with our audit of the Standalone financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys Management 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 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 Companys internal financial controls over financial reporting 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 both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. 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 judgment, including the assessment of the risks of material misstatement of the Standalone financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls system over financial reporting.

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 Standalone 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 Standalone financial statements in accordance with generally accepted

accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company: and (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 Standalone financial statements.

Inherent 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.

Qualified Opinion

According to the information and explanations given to us and based on our audit, the following material weakness has been identified in the operating effectiveness of the Companys internal financial controls system over financial reporting as at 31 March 2021:

The Companys internal controls over financial reporting with respect to the Inventories lying with the third parties which cannot be verified physically were not operating effectively, which could result in a potential material misstatement in the carrying value of inventory, cost of goods sold and its consequential impact on the earnings, reserves and related disclosures in the Standalone financial statements.

A ‘material weakness is a deficiency, or a combination of deficiencies, in internal financial controls over financial reporting, such that there is a reasonable possibility that a material misstatement of the companys annual or interim Standalone financial statements will not be prevented or detected on a timely basis

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 31^st March, 2021, 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 and except for the possible effects of the material weakness described above on the achievement of the objectives of the control criteria, the Companys internal financial controls over financial reporting were operating effectively as at 31 March 2021.

ANNEXURE "B" TO THE INDEPENDENT AUDITORS REPORT

(Referred to in paragraph 2 under the heading "Report on other Legal and Regulatory Requirements" of our report on even date to the members of Penta Gold Limited of even date.)

i. In respect of the Companys fixed assets:

(a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) All fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

(c) According to the information and explanation given to US and based on the records produced before us, the title deed of immovable properties are held in the name of the company.

ii. In our opinion except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the management has conducted physical verification of inventory at reasonable intervals during the year, except for stocks lying with third parties. For stocks lying with third parties at the year- end, written confirmations have been obtained by the management from Third Parties. No material discrepancies were noticed on the aforesaid verification.

iii. According to the information and explanation given to us, the Company has not granted any secured/unsecured loans to companies, firms or other parties listed in the register maintained under section 189 of the Companies Act 2013.

iv. In our opinion and according to the information and explanations given to us, there are no loans, investments, guarantees and securities granted in respect of which provisions of section 185 and 186 of the Companies Act 2013 are applicable and hence not commented upon.

v. The Company has not accepted any deposits within the meaning of section 73 to 76 of the Act and the Companies (Acceptance and Deposits) Rules, 2014 (as amended). Accordingly, the provisions of clause 3(v) of the order are not applicable.

vi. The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Act, in respect of activities of the company.

vii. 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 Income Tax, Sales Tax, Wealth Tax, Service Tax, duty of Customs, Duty of Excise, Value Added Tax, Goods & Service Tax, Cess and other material statutory dues applicable to it to the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31^st March, 2021 for a period of more than six months from the date of becoming payable except for the following:

Name of the Statute		Nature of the dues	Amount (f in 000s)		Period	Due Date	Date of Payment
Income Tax Act, 1961		Income Tax (Including Interest)	? 13,613.41		FY 2019- 20	15th February 2021	Not paid yet
Income Tax Act, 1961		Income Tax (Including Interest)	? 469.16		FY 2018- 19	30th November	Not paid yet
						2019
Income Tax Act, 1961	TDS		? 56.37	April 2020		7lh May 2020	Not Paid yet
Income Tax Act, 1961	TDS		? 66.83	May 2020		7th June 2020	Not Paid yet
Income Tax Act, 1961	TDS		? 80.69	June 2020		7th July 2020	Not Paid yet
Income Tax Act, 1961	TDS		? 59.49	July 2020		7th August 2020	Not Paid yet
Income Tax Act, 1961	TDS		? 57.01	August 2020		7m September 2020	Not Paid yet
Income Tax Act, 1961	TDS		? 114.391	September 2020		7th October 2020	Not Paid yet

(b) Details of dues of Income Tax, Sales Tax, Wealth Tax, Service Tax, duty of Customs, Duty of Excise, Value Added Tax, Goods & Service Tax and Cess which have not been deposited as on 31^s1 March, 2021 on account of disputes are given below:

Name of the Statute	Nature of the dues	Amount (? in 000s)	Amount Paid under protest	Period	Forum
Income Tax Act, 1961	Income Tax	? 1,30,65.48	2613.10	FY 2013-14	Commissioner of Income Tax (Appeals)
Customs Act, 1962	Penalty under Customs	? 1,200.00	-	FY 2013-14	Customs Excise and Service Tax Appellate Tribunal

viii. In our opinion and according to the information and explanations given to us, during the year the company has defaulted in the repayment of Term loan to banks & other financial institutions and Foreign Currency Demand Loan & Cash Credit Facilities from bank has been overdrawn as on 31^B* March 2021

Lender wise defaults which are outstanding as on 31^st March 2021 are mentioned as follows:

Lenders	Facility type	Nature of Default & Remarks
Axis Bank	Foreign Currency Demand Loan	• All the said facilities has been classified as NPA as stated in Emphasis of matter para
	Cash Credit	"i.a" above
	Funded Interest Term Loan	• Cumulative Sanctioned Limit for all the facilities is ?. 2,00,000.00 Whereas outstanding loan as at balance sheet date is?. 2,26,522.08
		• No Interest has been charged by Bank from the month of December 2020 and account has been overdrawn from 01st September 2020 i.e. post moratorium granted by bank in pursuant to guidelines issued by RBI,
		• Amount overdrawn as on 31s1 March 2021 is ?. 26,522.08 (which includes currency fluctuation off 4,723.21).
State Bank of India	Cash Credit Facility	• The company have opted for restructuring seeking additional limit as stated in Emphasis of matter para "i.b" above
		• Sanctioned Limit for the facility is f 80,000.00 Whereas outstanding loan as at balance sheet date is f. 81,010.89
		• Account has been overdrawn as on 31st March by f 1010.89
	Guaranteed Emergency Credit Line	• The company have opted for restructuring seeking rescheduling of term loan as disclosed in Emphasis of matter para "i.b" above
		• Sanctioned Limit for the facility is f 16,000.00 Whereas outstanding loan as at balance sheet date is f. 16,100.56
		• Account has been overdrawn as on 31s1 March by f 100.56
Karur Vysya Bank	Cash Credit Facility Funded Interest Term Loan	• All the said facilities has been classified as NPA as stated in Emphasis of matter para "i.c" above
		• Cumulative Sanctioned Limit for all the facilities is f.80,000.00 Whereas outstanding loan as at balance sheet date is ?. 93,787.54
		• The account has been overdrawn from 01st September 2020 i.e. post moratorium granted by bank in pursuant to guidelines issued by RBI,
		• Amount overdrawn as on 31st March 2021 is f.13787.54.
ICICI Bank	Export Packing Credit	• The said facility has been cancelled due to breach of terms & conditions of credit arrangement letter as stated in Emphasis of matter para "i.d" above
		• The complete outstanding balance as at 31st march 2021 off 1,975.00 is overdrawn since limit has been cancelled
	Unsecured Term Loan	• As at 31st March 2021, there was Outstanding default in payment of f.717.5 belonging to period December 2020 to March 2021
		• (Principal - f 513.40, Interest - f 200.32 & other charges -f 3.78)
		• No payment has been made till date of signing
IIFL Finance Ltd	Unsecured Term Loan	• As at 31st March 2021, there was Outstanding default in payment of f .476.07 belonging to period February 2021 to March 2021
		• (Principal - f 386.21, Interest - ? 56.70 & other charges -f 33.16)
		• No payment has been made till date of signing
	Unsecured Guaranteed Emergency Credit Line	• As at 31st March 2021, there was Outstanding default in payment of f.9.25 belonging to period March 2021
		• (Interest- f 6.30 & other charges -f2.95)
		• No payment has been made till date of signing
Capfloat Finance Service Private Limited	Unsecured Term Loan	• As at 31st March 2021, there was Outstanding default in payment of f.774.54 belonging to period January 2021 to March 2021
		• (Principal - f 728.89, Interest - f 45.48 & other charges - f 0.17)
		• The company have further paid f 239.14 against principal & f 18.99 against interest after balance sheet date on 24th May 2021
Tata Capital Finance Services Limited	Unsecured Term Loan	• As at 31s March 2021, there was Outstanding default in payment of f 1,021.81 belonging to period April 2020 & September 2020
		• (Principal - 899.67, Interest - 21.90 & overcharges - 100.24)
		• No payment has been made till date of signing
	Unsecured Term Loan	• As at 31st March 2021, there was outstanding default in payment off. 981.30 belonging to period December 2020 to March 2021
		• (Principal - 769.68, Interest - 49.35 & other charges -162.27)
		• No payment has been made till date of signing
Magma Fincorp Limited	Unsecured Term Loan	• As at 31st March 2021, there was Outstanding default in payment of f 1,744.11 belonging to period September 2020 to March 2021
		• (Principal - 1,598.83, Interest - 92.67 & other charges - 52.61)
		• No payment has been made till date of signing

ix. In our opinion and according to the information and explanation given to us, the Company has not raised any funds by way of initial public offer or further public offer (including debt instruments) and term loans during the year. Accordingly, paragraph 3 (ix) of the Order is not applicable.

X. Based upon the audit procedures performed for the purpose of reporting the true and fair view of the Standalone financial statements and according to the information and explanations given by the management, we report that no fraud by the company or on the company by the officers or employees of the company has been noticed or reported during the year.

xi. In our opinion and according to the information and explanations given to us, the Company has paid/ provided managerial remuneration in accordance with provisions of section 197 read with Schedule V to the Companies Act, 2013.

xii. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company as specified in the Nidhi Ruies, 2014 and hence reporting under clause (xii) of Paragraph 3 of the Order is not applicable.

xiii. According to the information and explanations given by the management, transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the notes to the Standalone financial statements, as required by the applicable accounting standards.

xiv. According to the information and explanation given to us, during the year the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures and hence reporting under clause (xiv) of CARO 2016 is not applicable to the Company.

xv. In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash transactions with its directors or persons connected with him and hence provisions of section 192 of the Companies Act, 2013 are not applicable.

xvi. The Company is not required to be registered under section 45-I of the Reserve Bank of India Act, 1934.