<dhhead>Independent Auditors Report</dhhead>
To,
The members of VXL Instruments Limited,
Report on the Audit of the Ind AS Financial Statements:
Opinion
We have audited the accompanying Ind AS financial statements of M/s.
VXL Instruments Limited ("the Company”), which comprise the balance sheet as
at March 31,2023, 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 Ind AS financial statements, including a summary of significant accounting
policies and other explanatory information (hereinafter referred to as the “Ind AS
financial statements”).
In our opinion and to the best of our information and according
to the explanations given to us, the aforesaid Ind AS financial statements give the
information required by the Companies Act, 2013 (the “Act”) in the manner so
required and give a true and fair view in conformity with the Indian Accounting Standards
prescribed under section 133 of the Act read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended, (“Ind AS”) and other accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2023
and its loss, changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our
responsibilities under those Standards are further described in the Auditors
Responsibilities for the Audit of the Ind AS Financial Statements section of our report.
We are independent of the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India together with the ethical requirements that
are relevant to our audit of the Ind AS financial statements under the provisions of the
Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the ICAIs Code of Ethics. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Emphasis of Matter
a) We draw your attention to Note No. 9 of the Ind AS Financial
Statement wherein trade receivables reported by the Company includes Rs.5.11 Crore is
receivable from one of the foreign customers, which is outstanding for more than 2 years
and the management of the Company is confident of recovering the same.
Our opinion on the Ind AS financial Statement is not modified in
respect of above matter.
Key Audit Matters
Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the Ind AS financial statements of the
current period. These matters were addressed in the context of our audit of the Ind AS
financial statements as a whole and in forming our opinion thereon, and we do not provide
a separate opinion on these matters. We have determined the matters described below to be
the key audit matters to be communicated in our report.
Sl.Key Audit Matter |
Auditors Response |
1Revenue Recognition |
Principal Audit Procedures Our audit approach was a combination
of test of internal controls and substantive procedures including: |
Revenue from the
sale of goods (hereinafter referred to as “Revenue”) is recognised when the
Company performs its obligation to its customers
and the amount of revenue can be measured reliably and recovery of the consideration is
probable. The timing of such recognition in case of sale of goods is when the control over
the same is transferred to the customer, which is mainly upon delivery. |
• Assessing the appropriateness of the Companys revenue
recognition accounting policies in line with Ind AS 115 (“Revenue from Contracts with
Customers”) and testing thereof. |
The timing of
revenue recognition is relevant to the reported performance of the Company. The management
considers revenue as a key measure for evaluation of performance. |
• Evaluating the design and implementation of Companys
controls in respect of revenue recognition. |
|
• Testing the effectiveness of such controls over revenue
cut off at year-end. |
|
• Testing the supporting documentation for sales
transactions recorded during the period closer to the year end and subsequent to the year
end, including examination of credit notes issued after the year end to determine whether
revenue was recognised in the correct period. |
|
• Performing analytical procedures on current year revenue
based on monthly trends and where appropriate, conducting further enquiries and testing. |
Information Other than the Ind AS Financial Statements and
Auditors Report Thereon
The Companys Board of Directors is responsible for the other
information. The other information comprises the information included in the Companys
annual report but does not include the Ind AS financial statements and our auditors
report thereon. Such other information is expected to be made available to us after the
date of this auditors report.
Our opinion on the Ind AS 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 Ind AS financial statements,
our responsibility is to read the other information when it becomes available and, in
doing so, consider whether the other information is materially inconsistent with the Ind
AS financial statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated.
If, based on the work we have performed, we conclude that there
is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Responsibility of Management for the 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 of these Ind AS financial statements that give a true and fair view of the
financial position, financial performance, changes in equity and cash flows of the Company
in accordance with the accounting principles generally accepted in India, including the
accounting Standards specified under section 133 of the Act. This responsibility also
includes maintenance of adequate accounting records in accordance with the provisions of
the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate implementation
and maintenance of 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 Ind AS
financial statement that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
In preparing the Ind AS financial statements, management is
responsible for assessing the Company’s 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 also responsible for overseeing the
Companys financial reporting process. Auditors Responsibilities for the Audit of
the Ind AS Financial Statements
Our objectives are to obtain reasonable assurance about whether
the Ind AS financial statements as a whole are free from material misstatement, whether
due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with SAs will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise
professional judgement and maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of
the Ind AS 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 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 management’s 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 Company’s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our
auditor’s report to the related disclosures in the Ind AS financial statements or, if
such disclosure are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s 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 Ind AS financial statements, including the disclosures, and whether the Ind AS
financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
Materiality is the magnitude of misstatements in the Ind AS
financial statements that, individually or in aggregate, makes it probable that the
economic decisions of a reasonably knowledgeable user of the Ind AS 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 Ind AS financial statements.
We communicate with those charged with governance regarding,
among other matters, the planned scope and timing of the audit and significant audit
findings, including any significant deficiencies in internal control that we identify
during our audit.
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements regarding independence, and to
communicate with them all relationships and other matters that may reasonably be thought
to bear on our independence, and where applicable, related safeguards.
Report on Other Legal and Regulatory Requirements
1) As required by the Companies (Auditors Report) Order, 2020 (“the
Order”), issued by the Central Government of India in terms of sub-section (11) of
section 143 of the Companies Act, 2013, we give in the “Annexure A” a statement
on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
2) As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and
explanations which to the best of our knowledge and belief were necessary for the purposes
of our audit.
(b) In our opinion, proper books of account as required by law
have been kept by the Company so far as it appears from our examination of those books.
(c) The Balance Sheet, the Statement of Profit and Loss,
statement of changes in equity and the Cash Flow Statement dealt with by this Report are
in agreement with the books of account.
(d) In our opinion, the aforesaid Ind AS financial statements
comply with the specified under Section 133 of the Act.
(e) On the basis of written representations received from the
directors as on March 31,2023, and taken on record by the Board of Directors, none of the
directors is disqualified as on March 31, 2023, from being appointed as a director in
terms of section 164 (2) of the Act;
(f) With respect to the adequacy of the internal financial
controls over financial reporting of the Company and the operating effectiveness of such
controls, refer to our separate Report in “Annexure B”.
(g) With respect to the other matters to be included in the
Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules,
2014, in our opinion and to the best of our information and according to the explanations
given to us:
i. The Company has disclosed the impact of pending litigations
on its financial position in its Ind AS financial statements.
ii. The Company did not have any long-term contracts including
derivative contracts for which there are material foreseeable losses.
iii. There were no amounts which were required to be transferred
to the Investor Education and Protection Fund by the Company.
iv.(a) The management has represented that, to the best of its
knowledge and belief, no funds have been advanced or loaned or invested (either from
borrowed funds or share premium or any other sources or kind of funds) by the Company to
or in any other person or entity, including foreign entity (“Intermediary”),
with the understanding, whether recorded in writing or otherwise, that the Intermediary
shall, whether, directly or indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Company (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries;
(b) The management has represented, that, to the best of its
knowledge and belief, no funds have been received by the Company from any person or
entity, including foreign entity (“Funding Party”), with the understanding,
whether recorded in writing or otherwise, that the Company shall, whether, directly or
indirectly, lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(c) Based on the audit procedures that have been considered
reasonable and appropriate in the circumstances, nothing has come to our notice that has
caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e),
as provided under (a) and (b)above, contain any material mis-statement.
v. The Company has not declared or paid any dividend during the
year in contravention of the provisions of section 123 of the Companies Act, 2013.
3) With respect to the matter to be included in the Auditors
Report under Section 197(16) of the Act: In our opinion and according to the information
and explanations given to us, the remuneration paid by the Company to its directors during
the current year is in accordance with the provisions of Section 197 of the Act. The
remuneration paid to any director is not in excess of the limit laid down under Section
197 of the Act.
For YCRJ & ASSOCIATES |
Chartered Accountants |
Firms Registration No: 006927S |
Kiran Kumar S |
Partner |
M. No.: 235252 |
UDIN: 23235252BGVUNG9498 |
Place: Bengaluru |
Date: 26.05.2023 |
“Annexure A” to the Independent Auditors Report
(Referred to in paragraph 2(f) under the heading Report on
Other Legal & Regulatory Requirements of our report of even date to the Ind AS
financial statements of the Company for the year ended 31st March, 2023)
As per the books and records produced before us and as per the
information and explanations given to us and based on such audit checks that we considered
necessary and appropriate, we confirm that:
(i) In respect of the Companys Property, Plant and Equipment
and Intangible Assets:
(a) (A) The Company has maintained proper records showing full
particulars, including quantitative details and situation of Property, Plant and Equipment
and relevant details of right-of-use assets.
(B) The Company has maintained proper records showing full
particulars of intangible assets.
(b) As per the information and explanation given to us, all
Property, Plant and Equipment, right-of-use assets and other Intangible assets have been
physically verified by the management during the year which in our opinion, is reasonable
having regard to size of the Company and the nature of its assets. As explained to us no
material discrepancies were noticed on such verification.
(c) As per the information and explanation given to us and based
on the examination of the records of the Company, there are no immovable properties held
by the Company. Hence reporting under clause 3(i)(c) of the Order is not applicable.
(d) As per the information and explanation given to us the
Company has not revalued any of its Property, Plant and Equipment (including right of-use
assets).
(e) As per the information and explanation given to us, no
proceedings have been initiated during the year or are pending against the Company as at
March 31, 2023 for holding any benami property under the Benami Transactions (Prohibition)
Act, 1988 (as amended in 2016) and rules made there under.
(ii) (a) T he management has conducted physical verification of
inventory at reasonable intervals during the year, in our opinion, the coverage and
procedure of such verification by the management is appropriate. As informed to us, any
discrepancies of 10% or more in the aggregate for each class of inventory were not noticed
on such verification.
(b) The Company has not been sanctioned working capital limits
in excess of ? 5 crore, in aggregate, at any points of time during the year, from banks or
financial institutions on the basis of security of current assets and hence reporting
under clause 3(ii)(b) of the Order is not applicable.
(iii) As per the information and explanation given to us, the
Company has not made investments in, provided any guarantee or security or granted any
loans, secured or advances in the nature of loans, secured or unsecured, to companies,
firms, Limited Liability Partnerships or other parties. Hence reporting under clause
3(iii) of paragraph 3 of the Order are not applicable.
(iv) As per the information provided and explanation given to
us, there are no loans, investments, guarantees, and security under section 185 and 186 of
the Companies Act 2013. Hence the provisions of clause 3(iv) of paragraph 3 of the Order
are not applicable.
(v) As per the information provided and explanation given to us,
the Company has not accepted any deposit or amounts which are deemed to be deposits.
Hence, reporting under clause 3(v) of the Order is not applicable.
(vi) We have been informed that maintenance of cost records
under sub section (1) of section 148 of the companies Act 2013 and the rules made there
under are not applicable relating to the operations of the Company and hence the
requirements of clause 3(vi) of the Order is not applicable .
(vii) As per the information and explanations given to us,
undisputed statutory dues including provident fund, employees’ state insurance,
income-tax, sales-tax, service tax, duty of custom, duty of excise, value added tax, cess
have been regularly deposited by the Company with the appropriate authorities in all cases
during the year, except Tax deducted at Source on Salaries.
As per the information and explanations given to us, no
undisputed amounts payable in respect of aforesaid dues were outstanding as on March
31,2023 for a period of more than 6 months from the date they became payable are as
follows.
Name of the Statute |
Nature of the Dues |
Amount (Rs. in Lakhs) |
Period to which amount relates |
Due Date |
Income Tax Act |
TDS on Salaries |
5.70 |
April 2022 to August 2022 |
07.09.2022 |
(a)As per the information and explanations given to us, the
following statutory dues have not been deposited on account of dispute:
Statute |
Nature of Dues |
Amount (Rs. in lakhs) |
Period to which amount relates |
Forum where dispute is pending |
EPF Act 1952 |
Employee Provident Fund Damages, Interest under appeal |
3.37 |
2001 - 2004 |
Commissioner of EPFO |
CST Act 1956 |
Central Sales Tax |
59.73 |
2001-02 to 2004-05 and 2011-12 |
Deputy Commissioner of Commercial Taxes |
Finance Act 1994 |
Service Tax |
1278.92 |
2008-09 to 2013-14 |
Central Excise & Service Tax Appellate Tribunal |
(viii) As per the information and explanations given to us,
there were no transactions relating to previously unrecorded income that have been
surrendered or disclosed as income during the year in the tax assessments under the Income
Tax Act, 1961(43 of 1961). Hence, reporting under clause 3(viii) of the Order is not
applicable.
(ix) As per the information and explanations given to us, the
Company does not have any loans or borrowings from a financial institution, bank,
Government or issued any debenture. Hence, reporting under clause 3(ix) of the Order is
not applicable.
(x) As per the information and explanations given to us, the
Company has not raised any money by way of initial public offer or further public offer
(including debt instruments) during the year. Hence, reporting under clause 3(x) of the
Order is not applicable.
(xi)
(a) No fraud by the Company and no material fraud on the Company
has been noticed or reported during the year.
(b) No report under sub-section (12) of section 143 of the
Companies Act has been filed in Form ADT-4 as prescribed under rule 13 of Companies (Audit
and Auditors) Rules, 2014 with the Central Government, during the year and up to the date
of this report.
(c) As per the information and explanation given to us, the
Company has not received any whistle blower complaints during the year.
(xii) The Company is not a Nidhi Company. Hence, reporting under
clause 3(xii) of the Order is not applicable.
(xiii) As per the information and explanations given to us, all
transactions with the related parties are in compliance with sections 177 and 188 of the
Companies Act, 2013 where applicable and details of such transactions have been disclosed
in the Ind AS financial statements as required by the applicable accounting standards.
(xiv)
(a) I n our opinion the Company has an adequate internal audit
system commensurate with the size and the nature of its business.
(b) We have considered, the internal audit reports for the year
under audit, issued to the Company during the year and till date, in determining the
nature, timing and extent of our audit procedures.
(xv) As per the information and explanations given to us, the
Company has not entered into any non-cash transactions with its directors or persons
connected with its directors and hence provisions of section 192 of the Companies Act,
2013 are not applicable to the Company.
(xvi) In our opinion, the Company is not required to be
registered under section 45-IA of the Reserve Bank of India Act, 1934 and also is not a
core investment Company (as defined in the Core Investment Companies (Reserve Bank)
Directions, 2016). Hence, reporting under clause 3(xvi)(a), (b), (c) and (d) of the Order
is not applicable.
(xvii) The Company has incurred cash losses during the financial
year covered by our audit and the immediately preceding financial year and below are the
details of the same.
Financial Year |
Amount of Cash loss (Rs. In Lakhs) |
2021 -22 |
0.66 |
2022 -23 |
145.21 |
(xviii) There has been no resignation of the statutory auditors
of the Company during the year and hence clause 3(xviii) is not applicable to the Company.
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 Ind AS financial statements and our knowledge of the Board of Directors
and Management plans and based on our examination of the evidence supporting the
assumptions, nothing has come to our attention, which causes us to believe that any
material uncertainty exists as on the date of the audit report indicating that Company is
not capable of meeting its liabilities existing at the date of balance sheet as and when
they fall due within a period of one year from the balance sheet date. We, however, state
that this is not an assurance as to the future viability of the Company. We further state
that our reporting is based on the facts up to the date of the audit report and we neither
give any guarantee nor any assurance that all liabilities falling due within a period of
one year from the balance sheet date, will get discharged by the Company as and when they
fall due.
(xix) (a) As per the information and explanations given to us,
there are no unspent amounts towards Corporate Social Responsibility (CSR) on other than
ongoing projects requiring a transfer to a Fund specified in Schedule VII to the Companies
Act in compliance with second proviso to sub-section (5) of Section 135 of the said Act.
Accordingly, reporting under clause 3(xx)(a) of the Order is not applicable for the year.
(b) As per the information and explanations given to us, there
are no ongoing projects, where the Company has any unspent Corporate Social Responsibility
(CSR) amount as at the end of the previous financial year, to a Special account within a
period of 30 days from the end of the said financial year as per the provision of section
135(6) of the Act. Accordingly, reporting under clause 3(xx)(b) of the Order is not
applicable for the year.
For YCRJ & ASSOCIATES |
Chartered Accountants |
Firms Registration No: 006927S |
Kiran Kumar S |
Partner |
M. No.: 235252 |
UDIN: 23235252BGVUNG9498 |
Place: Bengaluru |
Date: 26.05.2023 |
Annexure - B to the Auditors Report
(Referred to in paragraph 2(f) under the heading Report on
Other Legal & Regulatory Requirements of our report of even date to the Ind AS
financial statements of the Company for the year ended 31st March, 2023).
Report on the Internal Financial Controls 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 M/s. VXL Instruments Limited (“the Company”) as of 31st
March, 2023 in conjunction with our audit of the Ind AS financial statements of the
Company for the year ended on that date.
Managements Responsibility for Internal Financial
Controls
The Company’s 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 (“the Guidance Note”) 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 Company’s
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 Company’s
internal financial controls over financial reporting based on our audit. We conducted our
audit in accordance with 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 auditor’s judgement, including
the assessment of the risks of material misstatement of the Ind AS 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 Company’s internal financial control over financial
reporting is a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of Ind AS financial statements for external
purposes in accordance with generally accepted accounting principles. A Company’s
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
Ind AS financial statements in accordance with generally accepted accounting principles,
and that receipts and expenditures of the Company are being made only in accordance with
authorisations of management and directors of the Company; and (3) provide reasonable
assurance regarding prevention or timely detection of unauthorised acquisition, use, or
disposition of the Company’s assets that could have a material effect on the Ind AS
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.
Opinion
In our opinion, the Company has, in all material respects, an
adequate internal financial controls over financial reporting and such internal financial
controls over financial reporting were operating effectively as at 31st March,
2023, based on the internal control over financial reporting criteria established by the
Company considering the essential components of internal control stated in the Guidance
Note issued by the Institute of Chartered Accountants of India.
For YCRJ & ASSOCIATES |
Chartered Accountants |
Firms Registration No: 006927S |
Kiran Kumar S |
Partner |
M. No.: 235252 |
UDIN: 23235252BGVUNG9498 |
Place: Bengaluru |
Date: 26.05.2023 |
+91-9892691696
