Trishakti Industries Ltd Auditor Reports

To the Members of

TRKSAHKTI INDUSTRIES LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the standalone financial statements of TRISHAKTI INDUSTRIES LIMITED ("the Company"), which comprise the Balance Sheet as at 31st March 2024, the Statement of Profit and Loss including Other Comprehensive Income. Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and notes to the financial statements, including a summary of the 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 Companies Act, 2013 ("the Act") in the manner so required and give a fine and Fair view in conformity with the accounting principles generally accepted in India, of the Slate of Affairs of the Company as at 31 March 2024. Profit and Other Comprehensive. Income Changes in liquify and its Cash Flows for the year ended on that date.

II. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143 (10) of the Act. Our responsibilities under those SAs are further described in the "Auditors Responsibilities or 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 Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act 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 obtained by us is sufficient and appropriate to provide a basis for our opinion on the financial statements.

III Emphasis of Matter

We draw attention to Note 40 of the standalone financial statements on the financial activity of the company hming become its principle business, requiring it to lx* registered under Section 45-1A of the Reserve Bank of India Act. 193 I. I he company is >et to apply for the said registration as it opines that the \BFC leal u as will lv short I > dispensed with. Our opinion is not modified in respect of this matter.

IV. Key Audit Matters

Key audit matters are those mutters that, in our professional judgment, were of most significance in our audit of (he financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming out opinion thereon, and we do not provide a separate opinion on these matters. We haw determined the matters described below to be the key audit matters to be communicated in our report

Key audit matter -Revenue recognition

Description of Key Audit Matter	Description of Auditors Response
Revenue is recognised and accrued with reference to the deliverables and the terms of agreements	- Revenue Recognition
The tariff applied is the l ate agreed with customers or estimated by management based on the latest terms of the agreement / latest negotiation with customers and other industry considerations as appropriate.	Our audit procedures to address the risk of material misstatement relating to revenue recognition, which was considered to lx* a significant risk, included:
Significant judgements are required to estimate the tariff rates applied due to the large variety and complexity of contractual terms, as well as ongoing negotiations with customers.	- Testing of controls over individual terms and pricing and comparison of those terms and pricing data agaiast the related contracts: and
Variance between the actual rule und the estimated rate applied, will have all impact on the accuracy of revenue recognised / accrued.	- Detailed analysis of revenue and the timing of its recognition based on expectations derived from our industry* knowledge and external market data, following up variances from our expectations.
Considering the materiality of amounts and significant judgements involved the same has been considered as a key audit matter.

V. Other Information

The Companys management and Board of Director arc responsible for the other information The other information comprises the information included in the Company s annual report, but does not include the financial statements and our auditors report thereon. Our opinion on the linancial 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 linancial statements, our responsibility is to read the other information identified above when it becomes available and. in doing so. consider whether the oilier information is materially inconsistent with the linancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If we conclude that there is a material misstatement therein, we are required to communicate the mutter to those charged with governance and lake necessary actions, as applicable inidenhe relevant laws and regulations.

VI. Management** and Board of Directors* Uesmmsibililiis for the Financial Statements

The Companys management and Board of Directors arc responsible lor the matters stated in section 134(5)of the Act with respect to the preparation ofthose financial statements that give a I me and Fail view of the state of affairs, profit and other comprehensive income, changes in equity and cash Hows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) 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 und for preventing and detecting frauds and other {ricgulurities:selection and application of appropriate accounting policies: making judgments and estimates that are reasonable and prudent: and design, implementation and maintenance of adequate internal linancial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the linancial statements that give a true and fair view and are free Iron) material misstatement, whether due to fraud or error.

In preparing the financial statements, management and Board of Directors arc 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 cither intend* to liquidate the Company or to cease operations, or have no realistic alternative but to do so. The Board of Directors is also responsible lor overseeing the Companys financial reporting process.

VII. Auditors Bivsnonsihililics for the Audit ol the Financial statements

Oiii 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 arc considered material if. individually or in the aggregate.they could reasonably Ik expected to influence the economic decisions of users taken on the basis of these .linancial statements.

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

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. I he riskofnot detecting a material misstatement resulting from fraud is higher than for one resulting fromerror. 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 proccduresthui are appropriate in the circumstances. Under section I *13(3X1) of the Act, we arc also responsiblefor expressing our opinion on whether the company has adequate internal financial controls with reference to the financial statements in place and the operating effectiveness of such controls.

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

• Conclude on the appropriateness of managements and Hoard of Directors use of the going conecrnbasis 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 signd team doubt on the Companys ability to continue us u going concern. I f vve conclude ihuta material uncertainly exists, we are required to draw attention in our auditors* report to the related disclosures in the financial statements or, if such disclosures arc inadequate, to modi!) our opinion. Our conclusions are based on the audit evidence obtained up to the date of our nudilorsToport. I lowcver, future events or conditions may cause the Company to cease to continue as a going concern.

• Hvalualc the ov erall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent live umlerlyingtransactions and cv cuts in a manner that achicv cs fair presentation.

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

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that nuw reasonably he thought to bear on our independence, and w here applicable, related safeguards.

From the matters communicated with those charged with governance, vve determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, wc determine that amaltcr 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.

V111. Ucnort on Other l.cgnl and Regulatory Uconimncms

I. As required by the Companies (Auditor s Kcport) Order. 2020 ("the Order ) issued b> the Central Government ol India in terms of section II3( 11) of the Vet. we give in the "Anncxure A^v a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2. (A) As required h> Section 143(3) ofthe Act. we report time

(a) We have sought and obtained all the information and explanations which to the best of our know ledge and belief were necessary for the purposes ofour audit.

(b) In our opinion, proper books of account us required by law have been kept by the Company so far as it appears from our examination of those books, except for the matter staled in paragraph 2(B)(g) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.

(c) I he balance sheet, the statement of profit and loss including other comprehensive income, the statement of changes in equity and the statement of cash Hows dealt with b> this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards specified under section 133 ofthe Act.

(e) ()n the basis of the w ritien representations received from the directors as on 31 March 2024, taken on record by the Hoard of Directors, none ofthe directors is disqualified as on 31 March 2024 from being appointed as u director in terms of section 164(2) ofthe Act.

(f) With respect to the adequacy ofthe internal financial controls with reference to financial statements of the Company and the operating effectiveness of Mich controls, refer to ourseparale Report in "Annexuro U \ Our opinion is not modified in this regard.

(B) With respect to the other mailers to be included in the Auditors* Report in accordance with Rulel I of the Companies (Audit and Auditors) Rules. 2014. in our opinion and to the best ofour information and according to the explanations given to us:

tl) The Company had no pending litigations as at 31 March 2024.

b) I he Company did not have any long-term contracts including derivative contracts for which the re wore any material foreseeable losses.

c) There has been no delay in transferring amounts required to be transferred to the Investor Education and Protection fund by the Company.

d) (u fhe Management has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested (either Irom borrowed funds or share premium or any other sources or kind of funds) by ihcCompany to or in any other persons or entities, including foreign entities (•intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary sluill.diroetly or indirect!) lend or invest in other persons or entities identified in any manner whatsoever (iJliimulc Beneficiaries) by or on behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(ii) The Management has represented that, to the best of its know ledge and belief, no funds have been received by the Company from any persons or entities, including foreign entitles (•‘Funding Parlies"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly lend or investin other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Parties or provide any guarantee, security or the like on bchalfof the I Ift mate Beneficiaries.

(iii) 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(c) contain any material mis-statement.

c) Omitted.

1) The dividend declared or paid by the Company during (he year is in accordance with section 123 of the Companies Act 2013.

g) The Company has migrated to Tally Prime l:dit I ,og" version from • fall) Prime* during the year and is in the process of establishing necessan controls and documentations regarding audit trail. Consequently, we arc unable to comment on audit trail feature of the %aid software.

(C) With respect to the matter to be included in the Auditors Report under section 197(16) of thcActt

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 provisionsof section 197 of the Act. The remuneration paid to am director is not in excess of the limits laid down under section 197 of the Act.

For G. BASU & CO.

Chartered Accountants R. NO.-301174E

Satyapriya Bandyopadhyay Partner

(M. NO.-056103)

Place of Signature : Kolkata Dated: May 9". 2024

ANNEXllUK "A^f*(Uefcireel to in nnrngnwli VMM under *Rcnort oil Other Legal :md Ucgulntorv Wccmircmcnts* section of our-report ofeven date)

In terms of the information and explanations sought by us and given by the company and ihe books of account and records examined by us in the normal course of audit and to the host of our knowledge and belief, we stale that :

(i) to) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of property, plant and equipment

(13) The Company has maintained proper records showing full particulars of intangible assets.

(b) I lie Company has a regular program of physical verification of its properly, plant and equipment designed to cover all property, plant andequipmont in u phased munner over a period of three years*

In our opinion, the periodicity of physical verification is reasonable having regard to the sizeof the ( ompany and the nature of its assets. No material discrepancies were noticed on such verification.

(C) Die Company does not have any immovable properties. Accordingly, clause 3(i)(c) of the Order is not applicable.

(cl) I he Company has not revalued its property, plant and equipment (including right of use assets) or intangible assets or both during the year.

(e) No proceedings were initiated or arc pending against the Company for holding any benaml property under the Prohibition of Iknami Property Transactions Act. I9K8 and rules made thereunder.

(ii) (a) The Companys stock of shares is held in l)e-mat account and confirmed through the Depository Poital.

(b) According to the inlbrnuition and explanations given to us and on the basis of our examination of the records of the Company, the Company has not been sanctioned workingcapitul limits in excess of five crore rupees, in aggregate, from kinks or financial institutions on the basis of the security of current assets at any point of time during the year. Accordingly, clause 3(iiMb) of the Ol der is not applicable to (he Company.

(iii) According to the information and explanations given to us and on the basis of our exam inationof the records of the Company, the Company has not made any investments in or provided security to companies, firms, limited liability partnerships or any other parties during the year.The Company has granted loans and advances in the nature of loans during the year to companies and other parties, details of which are stated below. I he Company has not provided guarantees or granted loans or advances in the nature of loans during the yearto firms or limited liability partnerships.

a. (A) Ihe Company had granted loan of Its 116 Lakhs and Us 10 l akhs to its subsidiary and a related party respectively during the year and the same hits been refunded by the subsidiary and related

party.

(ID I he Company has not granted ails anew in the nature of loans to any party.

b. I he company has provided corporate guarantee to a company whose property has been mortgaged for working capital limit provided to Trishakli Industries Limited during the year. The terms and conditions of the grant of loans nnd advances in the nature of loans and guarantee during the year are. prima facie, not prejudicial to the interest of the Company.

e. The loans and advances given were re-payable on demand.

d. There is no overdue amount for more than ninety days in respect of loans and advances in the nature of loans given.

c. I here is no loan or advance in the nature of loans granted falling due during the year, which has been renewed or extended or fresh loans granted to settle the overdues of existing loans or nd\ anecs in the nature ofloans given to same parlies.

f. All loans or advance in the nature of loan are repayable on demand.

Aggregate amount of loans or advance in the nature of loans	All Parties	Promoters	Related Parties
Repayable on demand ( A)	Rs 126 Lakhs	-	Rs 120 Lakhs
Agreement does not specify any term or period ol repayment (ID
1 olal < A- + B)	Rs 126 Lakhs		Rs 126 Lakhs
Percentage of 1 .oans or Advances in the nature of Loans to the total Imtns	100		100

(iv) The Company has neither made any investments nor has it given loansor provided guarantee or security as specified under Section 185 of the Companies Act, 2013 ("iheAcO and the Company has not provided any security as specified under Section 186 of the Act. further, in our opinion, the Company has complied with the provisions of Section 186 of the Act in relation to loans given, guarantees provided and investments made, as applicable.

tv) The Company has not accepted any deposits or amounts which are deemed to he deposits from the public. Accordingly, clause 3(v) of the Order is not applicable.

(vi) The Central Government has not prescribed the maintenance of cost records under Section 148( l) of the Act for the services provided by it. Accordingly, clause 3(vi) of the Order is not applicable.

(\ ii) (a) The Company does not have liability in respect of Sen ice tax. Duty of excise, Sales tax and Value added lax during the year as these statutory dues has been subsumed Into Goods and Services Tax ("GST ) wiihelleei from I July 2017.

I he amounts deducted / accrued inlhc books of account in respect of undisputed statutory dues including GST, Provident fund. Employees State Insurance, Income-Tax, Duly of Customs, Cess and other statutory dues have been regularly deposited by the Company with the appropriate Diithorities.No undisputed amounts payable in respect of GST. Provident fund. Employees State Insurance. Income- Tax. Duly ol Customs. Cess and other statutory dues were in arrears as at 31 March 2024 for a period ol more than six months from the date they became pay able.

(h) There a re no statutory dues relating to GST. Provident Fund, Employees Stale Insurance. Income-Tax. Sales I ax. Service Tax. Duly ofCusloms. Value Added Tax or Cess or other statutory dues which have not been deposited oil account of any dispute.

(\iii) The Company has not surrendered or disclosed any transactions, previously unrecorded as income in the hooks of account, in the tax assessments under the Income I ax Act, 1961 as income during the year.

(ix) (u) The Company Iras not defaulted in the repayment of loans or born) wings or in the payment of interest thereon to any lender.

(b) The Company has not been declared a wilful defaulter by any bunk or financial institution or government or government authority.

(c) 1 he term loans were applied for the purpose For which the loans were obtained by the company.

(d) 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) The Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiary. The C ompany had no associate and was not a party to any joint venture agreement during the year ended 31 March 2024.

(0 The Company has not raised loans during the year on the pledge of securities held in its subsidiary.

(.\) (uj The Company has not raised any moneys by way of initial public other or further public other (including debt instruments) Accordingly, clause 3<xna) of the Order is not applicable.

(b) 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(\)(b) of the Order is not applicable.

(\i) (a) Considering the principles of materiality outlined in the Standards on Auditing, we report that no fraud by the Company or on the Company Inis been noticed or reported during the course of the audit.

(l>) No report tinder sub-section (12) of Section 113 of the Act has been filed by the auditors in Form ADM as prescribed under Kule 13 ofCompanies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) No whistle blower complaints weiv reported to ha\o been received by the Company during the y cur.

(\ii) I he Company is not a Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable.

(xiii) Ihe transactions with related parlies were in compliance with Section 177 and IKS of the Act. where

applicable, and the details of the related party transactions have been disclosed in the financial statements us required by the applicable accounting standards.

(xjv) (a) The C ompany has an internal audit system commensurate with the size and nature of its business.

(b) W c have considered the internal audit reports of the Company issued till date for the period under audit.

(\\) I lie Company has not entered into any non-cash transactions with its directors or persons connected to the directors and hence, provisions of Section 192 of the Act arc not applicable to the Company.

(\\ i) (a) We draw attention to Note 40 of the slundnlonc financial statements on the financial activity of the company having become its principle business, requiring it to be registered under Section 45-1A of the Reserve Bank of India Act, 1934.

(b) The company is yet to apply for the said registration as it opines that the NBIC features will be shortly dispensed with,

(e) The Company is not a Core Investment Company (CIO as defined in the regulations made b> the Reserve Bank of India. Accordingly, clause 3(.\\ i i X c) of the Order is not applicable.

(d) I he company does not have any CICs.

(xv ii) The Company lias not incurred cash losses in the current financial year and in the immediately preceding financial-year. tw iii) fherc has been no resignation of the statu tor) auditors during the year. Accordingly, clause 3(xviii)olThc Order is not applicable.

(Nix) According to the information ami explanations given to us and on the basis of the financial ratios, ageing and expected dales of realisation of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examinat ion of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that anv material uncertainty exists as on the dale 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.

Our statement, however, is not an assurance as to the I inure viabiliiyof the Company. Further our reporting is based on the facts up to the date of the audit report and we neither give anv guarantee nor any assurance that all liabilities falling due within a period of one y ear from the balance sheet date, w ill get discharged by the Company as and when they fall due.

(xx) Hie company is below the threshold limit specified for the application of section 135 of the Act. Accordingly, clauses 3(\x)(a) and 3(xx)(h) of the Order are not applicable.

(x\i) Reporting under clause 3fx.\i) is not applicable for the standalone financial statements.

For G. BASU & CO.

Chartered Accountants

R. NO.-3Q1174E

Satyapnya R?nflyopadhydy

Partner

(M. No.*058108)

Macc oi Signature : Kolkata

Dated : May 9*\ 2024

Report on (he Interim! financial Controls with reference to Che standalone financial statements for the year ended 3 P⁽ March 2024 under ( Inuse (i) of Sub-section 3 ulScctiun 143 of (lie Companies Xct. 2013 olTRlSHAK II INDUSTRIES LIMITED

(Referred lo in paragraph VI1I-2(A)(0 under Report on Other Legal and Regulatory Requirements section of our report of even date)

I. Opinion

Wo have audited the Internal I inancial Controls with reference to financial slatcinentsofTULSIlAKTI INDUSTRIES LIMII Id) (*the Company*) as of 31 March 2024 in unijunction with our audit of the financial statements of the Company as at and for the year ended on that date.

In tiliropinion, the Company has. in all material respects, adequate internal financial controls with relcrcnccto financial statements and such internal financial controls were operating effectively as at 31 March 2024, based on the internal linancial controls with reference to financial statements criteria established by the Company considering the essential components of internal control staled in the Guidance Note on Audit of Internal f inancial C ontrols Over Financial Reporting issued by the Institute ofChartercd Accountants of India (the "Guidance Note*).

ILiManatuuncnts ami Hoard of Directors* Responsibilities for Internal Financial C ontrols

The Companys management and the Board of Directors arc responsible for establishing and maintaining internal linancial controls based on the criteria established by the C ompany considering the essential components of internal control slated in the Guidance Note. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its ussels. the prevention and detection of hands and errors, the accuracy andcompletcness of the accounting records, und the timely preparation of reliable linancial information, as required under the Act.

111.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 w ith reference to financial statements. Those standards and the Guidance Note require that wc comply with ethical requirements and plan and perlbrm the audit lo obtain reasonable assurance about whether adequate internal financial controls with reference to financial statements were established and maintained and whether such controls operated effectively in all material respects.

()ur audit involves performing procedures lo obtain audit evidenee 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 such internal financial controls, 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, t he procedures selected depend on the auditors judgement, including the assessment ol the risks of material misstatement ollhe financial statements, whether due lo fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide u basis forouraudit opinion on the Companys internal financial controls with reference to financial statements.

IV. Meaning of Internal Financial Controls with Reference to financial Statements

A companys internal financial controls with reference to financial statements is u process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation or financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial controls with reference to financial statements include those policies and procedures that (I) pertain to the maintenance of records that, in reasonable detail, accurately and liiirly rolled the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions arc recorded us necessary to permit preparation of financial statements in accordance with generally) accepted accounting principles, and that receipts and expenditures of the company arc being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of un-uuthorised acquisition, use, or disposition of the companys assets that could have u material effect on the financial statements

V. tnlKTcnl Limitations of Internal Financial Coat re >K with Reference to financial Statements

Heeause 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 linuncial statements to future periods are subjccitothc risk that the internal financial controls with reference to financial statements ma> hceomoinadoqtmte because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

	For G. BASU & CO.
	Chartered Accountants
	R. No.-30117dE
	Satyapriya BJndyopatlt.yiy
	Partnor
Place of Signature : Kolkatu	(M. No. 058108)
Dated : May 9th. 2024