Trans Freight Containers Ltd.
We have audited the accompanying Standalone Ind AS Financial Statements
of theTRANS FREIGHT CONTAINERS LIMITED ("the Company"), which comprises of the
Balance Sheet as at March 31,2026, the Statement of Profit and Loss (including other
comprehensive income), the Statement of Cash Flow and the Statement of Changes in Equity
for the year ended and a summary of significant accounting policies and other explanatory
information (herein after referred to as "Standalone Ind AS Financial
Statements"). Managements Responsibility for the Standalone Ind AS 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 Ind AS Financial Statements that give
a true and fair view of the financial position, financial performance including other
comprehensive income, cash flows and changes in equity of the Company in accordance with
the accounting principles generally accepted in India, including the Indian Accounting
Standards (Ind AS) prescribed 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 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 forensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of
the Standalone Ind AS financial statements that give a true and fair view and are free
from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these Standalone Ind AS
Financial Statements based on our audit. We have taken into account the provisions of the
Act, the accounting and auditing standards and matters which are required to be included
in the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit of Standalone Ind AS Financial Statements in
accordance with the Standards on Auditing specified under Section 143(10) of the Act.
Those Standards require that we comply with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether the Standalone Ind AS Financial
Statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and the disclosures in the Standalone Ind AS Financial Statements. The
procedures selected depend on the auditors judgment, including the assessment of the
risks of material misstatement of the standalone Ind AS Financial Statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal
financial control relevant to the Companys preparation of the Standalone Ind AS
Financial Statements that give a true and fair view in order to design audit procedures
that are appropriate in the circumstances. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of the accounting
estimates made by the Companys Directors, as well as evaluating the overall
presentation of the Standalone Ind AS Financial Statements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the Standalone Ind AS Financial Statements. Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid Standalone Ind AS 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 including the Ind
AS, of the financial position of the Company as at March 31,2026 and its financial
performance including other comprehensive income, its cash flows and the changes in equity
for the year ended on that date.
1. As required by the Companies (Auditors Report) Order, 2020
("the Order") issued by the Central
Government of India in terms of section 143 (11) of the Act, we give in
the Annexure "B", a statement on the matters specified in paragraphs 3 and 4 of
the Order.
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 purpose of our audit;
b. In our opinion, proper books of account as required by law have been
kept by the Company so far as appears from our examination of those books;
c. The Balance Sheet, the Statement of Profit and Loss including other
comprehensive income, the Cash Flow Statement and the Statement of Changes in Equity dealt
with by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid Standalone Ind AS Financial Statements
comply with the Indian Accounting Standards prescribed under Section 133 of the Act read
with relevant rules issued thereunder and relevant provisions of the Act.
e. on the basis of written representations received from the directors
as on March 31,2026 and taken on record by the Board of Directors, none of the directors
is disqualified as on March 31,2026, 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. Wth 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 has disclosed the impact of pending litigations on its
financial position in its Standalone Ind AS financial statements - Refer Note 26 to the
Standalone Ind AS 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.
3. The Ministry of Company Affairs through its notification issued on
24th March, 2021, relating to Audit Trail, is applicable on all companies and will be
implemented from 1st April, 2025.
The Companies (Accounts) Second Amendment Rules, 2021 through MCA
notification dated 24.03.2021, a new proviso has been added in Rules 3(1) of The Companies
(Accounts) Rules, 2014, which speaks about mandatory use of accounting software which has
a feature of recording an - audit trail of each and every transaction; creating an edit
log of each change made in books of account along with the date when such changes were
made; and ensuring that the audit trail cannot be disabled. The proviso to rule 3(1) of
the Companies (Accounts) Rules, 2014 is applicable for the auditee company w.e.f. April
1,2025.
Based on our examination, with respect to the compliance of the above
proviso, test check method was applied and we observed that the company has used an
accounting software i.e. Tally Prime software, for maintaining its books of account, which
did not had a feature enabled at the data entry and recording level and certain master
fields with certain privileged access rights of recording Audit Trail (edit log) facility
and the same did not operate throughout the year for all relevant transactions recorded in
Tally Prime software. Instances of audit trail feature being tampered with was not
observed during the year and hence did not require to be reported.
ANNEXURE "A" TO THE INDEPENDENT AUDITORS REPORT OF EVEN
DATE ON THE STANDALONE IND AS FINANCIAL STATEMENTS OF TRANS FREIGHT CONTAINERS LIMITED
Report on the Internal Financial Controls under Clause (i) of
Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")
\Ne have audited the internal financial controls overfinancial
reporting of Trans Freight Containers Limited ("the Company") as of March
31,2026 in conjunction with our audit of the standalone Ind AS Financial Statements of the
Company for the year ended on that date.
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 Act.
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") and the Standards on Auditing, issued
by ICAI and deemed to be 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 judgement, including the assessment of
the risks of material misstatement of the standalone Ind AS Financial Statements, whether
due to fraud or error.
\Ne 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.
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.
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.
In our opinion, 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 31,2026 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. Emphasis of Matter
We draw attention to Note [1] to the financial statements which states
that the Company has ceased its business operations and the financial statements have been
prepared on a realization basis, as the Company is no longer a going concern. Our opinion
is not modified in respect of this matter.
[Referred to in paragraph 1 of" Report on other legal and
regulatory requirements" of our report of even date]
In terms of the information and explanations sought by us and given by
the Company and the books of account and records examined by us in the normal course of
audit and to the best of our knowledge and belief, we state that:
| Clauses |
Particulars of CARO 2020 |
Auditors Remark |
| (i) (a) (A) |
whether the company is maintaining proper records showing
full particulars, including quantitative details and situation of Property, Plant and
Equipment. |
Yes, the company has maintained proper records showing full
particulars including quantitative details and situation of Property, Plant and Equipment. |
| (B) |
whether the company is maintaining proper records showing
full particulars of intangible assets |
The company does not have intangible assets. |
| (b) |
whether these Property, Plant and Equipment have been
physically verified by the management at reasonable intervals; whether any material
discrepancies were noticed on such verification and if so, whether the same have been
properly dealt with in the books of account. |
Property, Plant and Equipment have been physically verified
by the management at reasonable intervals during the year and no material discrepancies
were identified on such verification. |
| (c) |
whether the title deeds of all the immovable properties
(other than properties where the company is the lessee and the lease agreements are duly
executed in favor of the lessee) disclosed in the financial statements are held in the
name of the company |
Yes, the title deeds of immovable properties (other than
properties where the company is the lessee and the lease agreements are duly executed in
favor of the lessee) as disclosed in the financial statements are held in the name of the
Company. |
| (d) |
whether the company has revalued its Property, Plant and
Equipment (including Right of Use assets) or intangible assets or both during the year
and, if so, whether the revaluation is based on the valuation by a Registered Valuer;
specify the amount of change, if change is 10% or more in the aggregate of the net
carrying value of each class of Property, Plant and Equipment or intangible assets; |
No, The Company has not revalued its property, plant and
Equipment (including Right of Use assets) and its intangible assets. Accordingly, the
requirements under paragraph 3(i)(d) of the Order are not applicable to the Company. |
| (e) |
whether any proceedings have been initiated or are pending
against the company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, if so, whether the company
has appropriately disclosed the details in its financial statements. |
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) |
whether physical verification of inventory has been conducted
at reasonable intervals by the management and whether, in the opinion of the Auditor, the
coverage and procedure of such verification by the management is appropriate; whether any
discrepancies of 10% or more in the aggregate for each class of inventory were noticed and
if so, whether they have been properly dealt with in the books of account; |
There is no closing inventory held in the company as on the
balance sheet date. Accordingly, the provisions stated in paragraph 3(ii) (a) of the Order
is not applicable to the Company. |
| (b) |
whether during any point of time of the year, the company has
been sanctioned working capital limits in excess of five crore rupees, in aggregate, from
banks or financial institutions on the basis of security of current assets; whether the
quarterly returns or statements filed by the company with such banks or financial
institutions are in agreement with the books of account of the Company, if not, give
details; |
No, The Company has not been sanctioned working capital
limits. Accordingly, the requirements under paragraph 3(ii)(b) of the Order is not
applicable to the Company. |
| (iii) |
whether during the year the company has made investments in,
provided any guarantee or security or granted any loans or advances in the nature of
loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any
other parties. |
No, the Company has not made any investments in, provided any
guarantee or security or granted any loans or advances in the nature of loans, secured or
unsecured, to companies, firms, Limited Liability Partnerships or any other parties.
Hence, the requirements under paragraph 3(iii) of the Order are not applicable to the
Company. |
| (a) |
whether during the year the company has provided loans or
provided advances in the nature of loans, or stood guarantee, or provided security to any
other entity [not applicable to companies whose principal business is to give loans], if
so, indicate- |
The company has not provided loans or provided advances in
the nature of loans, or stood guarantee, or provided security to any other entity. |
| (A) |
the aggregate amount during the year, and balance outstanding
at the balance sheet date with respect to such loans or advances and guarantees or
security to subsidiaries, joint ventures and associates; |
Not Applicable |
| (B) |
the aggregate amount during the year, and balance outstanding
at the balance sheet date with respect to such loans or advances and guarantees or
security to parties other than subsidiaries, joint ventures and associates. |
Not Applicable |
| (b) |
whether the investments made, guarantees provided, security
given and the terms and conditions of the grant of all loans and advances in the nature of
loans and guarantees provided are not prejudicial to the companys interest; |
The investments made during the year is, prima facie, not
prejudicial to the Companys interest. |
| (c) |
In respect of loans and advances in the nature of loans,
whether the schedule of repayment of principal and payment of interest has been stipulated
and whether the repayments or receipts are regular. |
According to the information and explanation given to us and
on the basis of our examination of the records of the company, in the case of loan given
interest is not applied and repayment of principal has been stipulated and repayments or
receipts have been regular. |
| (d) |
if the amount is overdue, state the total amount overdue for
more than ninety days, and whether reasonable steps have been taken by the company for
recovery of the principal and interest; |
There is overdue amount of Rs.9,50,00,000/- for more than
ninety days in respect of loan given. |
| e) |
whether any loan or advance in the nature of loan granted
which has fallen due during the year, has been renewed or extended or fresh loans granted
to settle the overdue of existing loans given to the same parties, if so, specify the
aggregate amount of such dues renewed or extended or settled by fresh loans and the
percentage of the aggregate to the total loans or advances in the nature of loans granted
during the year [not applicable to companies whose principal business is to give loans |
No such transaction found during the audit period. |
| (0 |
whether the company has granted any loans or advances in the
nature of loans either repayable on demand or without specifying any terms or period of
repayment, if so, specify the aggregate amount, percentage thereof to the total loans
granted, aggregate amount of loans granted to Promoters, related parties as defined in
clause (76) of section 2 of the Companies Act, 2013; |
The Company has not granted loans and / or advances in the
nature of loans. Hence, the requirements under paragraph 3(iii)(f) of the Order are not
applicable to the Company. |
| (iv) |
In respect of loans, investments, guarantees, and security,
whether provisions of sections 185 and 186 of the Companies Act have been complied with,
if not, provide the details thereof; |
The company has complied with the provisions of section 185
and 186 in respect of loans, investments, guarantees and securities, wherever applicable. |
| (V) |
in respect of deposits accepted by the company or amounts
which are deemed to be deposits, whether the directives issued by the Reserve Bank of
India and the provisions of sections 73 to 76 or any other relevant provisions of the
Companies Act and the rules made thereunder, where applicable, have been complied with, if
not, the nature of such contraventions be stated; if an order has been passed by Company
Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any
other tribunal, whether the same has been complied with or not; |
The Company has not accepted any deposits from the public
within the meaning of Sections 73, 74, 75 and 76 of the Act and the rules framed there
under. |
| (Vi) |
whether maintenance of cost records has been specified by the
Central Government under subsection (1) of section 148 of the Companies Act and whether
such accounts and records have been so made and maintained; |
The Central Government of India has not prescribed the
maintenance of cost records under sub-section (1) of Section 148 of the Act for any of the
products of the Company |
| (vii) (a) |
whether the company is regular in depositing undisputed
statutory dues including Goods and Services Tax, provident fund, employees state
insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value
added tax, cess and any other statutory dues to the appropriate authorities and if not,
the extent of the arrears of outstanding statutory dues as on the last day of the
financial year concerned for a period of more than six months from the date they became
payable, shall be indicated; |
The company is regular in depositing undisputed statutory
dues including Goods and Services Tax, provident fund, employees state insurance,
income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess
and any other statutory dues to the appropriate authorities to the extent applicable to
it. |
| (b) |
where statutory dues referred to in subclause (a) have not
been deposited on account of any dispute, then the amounts involved and the forum where
dispute is pending shall be mentioned (a mere representation to the concerned Department
shall not be treated as a dispute); |
The Income -tax assessments of the Company have been
completed up to Assessment Year 2019-20. The disputed demand outstanding up to the said
assessment year is approximately Rs.52,39,756 (AY 2017-18) The dues on account of Income
Tax disputed by the company and where such dispute is pending in forum. Commissioner of
Income Tax (Appeals) Refer Note 26 |
| (viii) |
whether any transactions not recorded in the books of account
have been surrendered or disclosed as income during the year in the tax assessments under
the Income Tax Act, 1961 (43 of 1961), if so, whether the previously unrecorded income has
been properly recorded in the books of account during the year; |
There are no such transactions which are not accounted in the
books of account. Hence, the provision stated in paragraph 3(viii) of the Order is not
applicable to the Company. |
| (ix) (a) |
whether the company has defaulted in repayment of loans or
other borrowings or in the payment of interest thereon to any lender, if yes, the period
and the amount of default to be reported as per the format below:- |
No, the Company did not have any loans or borrowings from any
lender during the year. |
| (b) |
whether the company is a declared willful defaulter by any
bank or financial institution or other lender; |
No, the company has not been declared willful defaulter by
any bank or financial institution or government or any government authority. |
| (c) |
whether term loans were applied for the purpose for which the
loans were obtained; if not, the amount of loan so diverted and the purpose for which it
is used may be reported; |
The company has not obtained any term loan. Accordingly, the
provision stated in paragraph 3(ix)(c) of the Order is not applicable to the Company. |
| (d) |
whether funds raised on short term basis have been utilized
for long term purposes, if yes, the nature and amount to be indicated; |
No funds have been raised on short term basis by company.
Accordingly, the provision stated in paragraph 3(ix)(d) of the Order is not applicable to
the Company. |
| (e) |
whether the company has taken any funds from any entity or
person on account of or to meet the obligations of its subsidiaries, associates or joint
ventures, if so, details thereof with nature of such transactions and the amount in each
case; |
The Company has not taken any funds from any entity or person
on account of or to meet the obligations of its subsidiaries as defined under the
Companies Act, 2013. Accordingly, clause 3(ix)(e) of the Order is not applicable. |
| (0 |
whether the company has raised loans during the year on the
pledge of securities held in its subsidiaries, joint ventures or associate companies, if
so, give details thereof and also report if the company has defaulted in repayment of such
loans raised; |
The Company has not raised loans during the year on the
pledge of securities held in its subsidiaries as defined under the Companies Act, 2013.
Accordingly, clause 3(ix)(f) of the Order is not applicable. |
| (x) (a) |
whether moneys raised by way of initial public offer or
further public offer (including debt instruments) during the year were applied for the
purposes for which those are raised, if not, the details together with delays or default
and subsequent rectification, if any, as may be applicable, be reported; |
The Company has not raised any money by way of initial public
offer or further public offer (including debt instruments) during the year. |
| (b) |
whether the company has made any preferential allotment or
private placement of shares or convertible debentures (fully, partially or optionally
convertible) during the year and if so, whether the requirements of section 42 and section
62 of the Companies Act, 2013 have been complied with and the funds raised have been used
for the purposes for which the funds were raised, if not, provide details in respect of
amount involved and nature of non-compliance |
The Company has not made any preferential allotment or
private placement of shares or fully, partly or optionally convertible debentures during
the year. |
| (xi) (a) |
whether any fraud by the company or any fraud on the company
has been noticed or reported during the year, if yes, the nature and the amount involved
is to be indicated; |
We have neither come across any instance of fraud by the
Company nor on the Company. |
| (b) |
whether any report under sub-section (12) of section 143 of
the Companies Act has been filed by the Auditors in Form ADT-4 as prescribed under rule 13
of Companies (Audit and Auditors) Rules, 2014 with the Central Government. |
No report under sec143(12) of the Act has been filed by the
auditors in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors)
Rules, 2014 with the Central Government; |
| (c) |
whether the Auditor has considered whistleblower complaints,
if any, received during the year by the company; |
There are no whistle-blower complaints received by the
Company during the year. |
| (xii) (a) |
whether the Nidhi Company has complied with the Net Owned
Funds to Deposits in the ratio of 1: 20 to meet out the liability; |
The Company is not a Nidhi Company. Accordingly, the
provisions stated in paragraph 3(xii) (a) to (c) of the Order are not applicable to the
Company. |
| (b) |
whether the Nidhi Company is maintaining ten per cent,
unencumbered term deposits as specified in the Nidhi Rules, 2014 to meet out the
liability; |
Not Applicable |
| (c) |
whether there has been any default in payment of interest on
deposits or repayment thereof for any period and if so, the details thereof; |
Not Applicable |
| (xiii) |
whether all transactions with the related parties are in
compliance with sections 177 and 188 of Companies Act where applicable and the details
have been disclosed in the financial statements, etc., as required by the applicable
accounting standards; |
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 accounting
standards. |
| (xiv) (a) |
whether the company has an internal Audit system commensurate
with the size and nature of its business; |
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) |
whether the reports of the Internal Auditors for the period
under Audit were considered by the statutory Auditor. |
V\fe have considered the internal audit reports of the
company issued till date for the period under audit. |
| (XV) |
whether the company has entered into any non-cash
transactions with directors or persons connected with him and if so, whether the
provisions of section 192 of Companies Act have been complied with. |
The company has not entered into noncash transactions with
directors or persons connected with its directors and hence, provisions of section 192 of
the Act are not applicable to company. Accordingly, the provisions stated in paragraph
3(xv) of the Order are not applicable to the Company. |
| (xvi) (a) |
whether the company is required to be registered under
section 45-IAofthe Reserve Bank of India Act, 1934 (2 of 1934) and if so, whether the
registration has been obtained; |
The Company is not required to be registered under section 45
lAof the Reserve Bank of India Act, 1934 |
| (b) |
whether the company has conducted any Non-Banking Financial
or Housing Finance activities without a valid Certificate of Registration (CoR) from the
Reserve Bank of India as per the Reserve Bank of India Act, 1934; |
The Company has not conducted any NonBanking Financial or
Housing Finance activities without any valid Certificate of Registration from Reserve Bank
of India |
| (c) |
whether the company is a Core Investment Company (CIC) as
defined in the regulations made by the Reserve Bank of India, if so, whether it continues
to fulfil the criteria of a CIC, and in case the company is an exempted or unregistered
CIC, whether it continues to fulfil such criteria; |
The Company is not a Core investment Company (CIC) as defined
in the regulations made by Reserve Bank of India. Hence, the reporting under paragraph
clause 3 (xvi) (c) of the Order are not applicable to the Company |
| (d) |
whether the Group has more than one CIC as part of the Group,
if yes, indicate the number of CICs which are part of the Group; |
The Company does not have any CIC as part of its group. Hence
the provisions stated in paragraph clause 3 (xvi) (d) of the order are not applicable to
the company |
| (xvii) |
whether the company has incurred cash losses in the financial
year and in the immediately preceding financial year, if so, state the amount of cash
losses. |
There is no cash loss in the financial year and in the
immediately preceding financial year. |
| (xviii) |
whether there has been any resignation of the statutory
Auditors during the year, if so, whether the Auditor has taken into consideration the
issues, objections or concerns raised by the outgoing Auditors. |
There has been no resignation of the statutory Auditors
during the year. Hence, the provisions stated in paragraph clause 3 (xviii) of the Order
are not applicable to the Company. |
| (xix) |
on the basis of the financial ratios, ageing and expected
dates of realization of financial assets and payment of financial liabilities, other
information accompanying the financial statements, the Auditors knowledge of the
Board of Directors and management plans, whether the Auditor is of the opinion that no
material uncertainty exists as on the date of the Audit report that company is capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due
within a period of one year from the balance sheet date; |
We, however, state that this is not an assurance as to the
future viability of the Company. We further state that our reporting is based on the facts
up to the date of the audit report and we neither give any guarantee nor any assurance
that all liabilities falling due within a period of one year from the balance sheet date,
will get discharged by the Company as and when they fall due. |
| (XX) (a) |
whether, in respect of other than ongoing projects, the
company has transferred unspent amount to a Fund specified in Schedule VII to the
Companies Act within a period of six months of the expiry of the financial year in
compliance with second proviso to sub-section (5) of section 135 of the said Act; |
The Company does not fall under any of the criteria
prescribed under Section 135(1) of the Act for the applicability of Corporate Social
Responsibility and hence clause 3(xx)(a) and 3(xx)(b) of the Order are not applicable to
the company. |
| (b) |
whether any amount remaining unspent under sub-section (5) of
section 135 of the Companies Act, pursuant to any ongoing project, has been transferred to
special account in compliance with the provision of sub-section (6) of section 135 of the
said Act; |
Not Applicable |
| (xxi) |
whether there have been any qualifications or adverse remarks
by the respective Auditors in the Companies (Auditors Report) Order (CARO) reports
of the companies included in the consolidated financial statements, if yes, indicate the
details of the companies and the paragraph numbers of the CARO report containing the
qualifications or adverse remarks |
The Company does not have any Subsidiary, Associate or Joint
Venture. Accordingly, reporting under clause 3(xxi) of the Order is not applicable |
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