The Board of Directors Aashka Hospitals Limited
Between Sargasan & Reliance Cross Road Sargasan Gandhinagar GJ 382421 IN
Subject: - Financial Information of Aashka Hospitals Limited
We have examined the attached Restated Statement of Assets and Liabilities of AashkaHospitals Limited(the Company') as at March 31 2021 March 31 2020 and March 312019 the Restated
Summary Statement of Profit and Loss Account and the Restated Summary Statement of CashFlows for the year ended March 31 2021 March 31 2020 and March 31 2019 and annexed tothis report ( collectively the "Restated Financial Information") as approved bythe Board of Directors of the Company for the Purpose of Inclusion in the offer documentprepared by the Company in connection with its proposed Intial Public Offer (IPO) ofequity share prepared in the term of the requirement of : a. Section 26 of Part 1 ofChapter III of the Companies Act 2013 ("the Act") read with Rule 4 to 6 ofCompanies (Prospectus and Allotment of Securities) rule 2014 ("the Rules"); b.The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations 2018 as amended from time to time in pursuance of provisions of Securitiesand
Exchange Board of India Act 1992 ("SEBI-ICDR Regulations"); and c. TheGuidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Institute of
Chartered Accountants of India as amended from time to time (the "GuidanceNote")
1. The Restated summary statements of the Company have been extracted by the Managementfrom Audited Financial Statements of the Company for the year ended March 31 2021 March312020 and March 31 2019. Our responsibility is to examine the Restated FinancialInformation and confirm whether such Restated Financial information comply with therequirements of the Act the Rules SEBI-ICDR Regulations and the Guidance Note.
2. There Restated Financial Information have been complied by the Management from theAudited Financial statement of the Company for the year ended March 31 2021 March312020 and March 31 2019. Which have been approved by the Board of Director of theCompany. We Singhi & Co Chartered Accountants have been subject to peer reviewprocess of the Institute of Chartered Accountant of India (ICAI) and hold a valid peerreview certificate issued by the "Peer review Board" of the ICAI. We have reliedupon the Audit report for the year ended March 31 2021 March 31 2020 & March 312019 in preparation of the restated financial statements.
3. Based on our examination we report that a. The Restated Summary Statement of Assetsand Liabilities of the Company examined and reported as at March 31 2021 March 31 2020and March 31 2019 examined by us as set out in Annexure I read with significantaccounting policies and related notes to account in Annexure 5 are after making adjustmentand regrouping /reclassifications as in our opinion were appropriate and more fullydescribed in schedule /Notes to the related summary statements.
b. The Restated Summary Statement of Profit & Loss of the Company for the yearended March 31 2021 March 31 2020 and March 31 2019 examined by us as set out inAnnexure 2 read with significant accounting policies and related notes to account inAnnexure 5 are after making adjustment and regrouping /reclassifications as in our opinionwere appropriate and more fully described in schedule /Notes to the related summarystatements. c. The Restated Summary Statement of Statement of Cash Flow of the Company forthe year ended March 31 2021 March 312020 and March 31 2019 examined by us as set outin Annexure 3 read with significant accounting policies and related notes to account inAnnexure 5 are after making adjustment and regrouping /reclassifications as in our opinionwere appropriate and more fully described in schedule /Notes to the related summarystatements. d. Based on the above according to the information and explanations given tous we are of opinion that the Restated Financial Information: i. have been made afterincorporating adjustment for changes in accounting policies retrospectively in respectivefinancial years to reflect the same accounting treatment as per changed accounting policyfor all the reporting period. ii. have been made after incorporating adjustment for thematerial amounts in the respective financial years to which they related ; and iii. do notcontain any extra ordinary items that need to be disclosed separately. iv. There were noqualification in the Audit Report of the Company for the year ended for the year endedMarch 31 2021 March 312020 and March 31 2019 which would require adjustment in thisrestated Financial Statement of the Company
4. We have also examined the following financial information as set out in Annexureprepared by the management and approved by the Board of Directors relating to for the yearended March 31 2021 March 312020 and March 31 2019.
|Annexure 1 ||Restated Balance Sheet |
|Annexure 2 ||Restated Statement of Profit & Loss Account |
|Annexure 3 ||Restated Cash Flow Statement |
|Annexure 4 ||Notes to Restated Financial Information |
|Annexure 5 ||Significant Accounting Policies and Note to Accounts |
|Annexure 6 ||Restated Statement of Adjustments to Audited Financial Statements |
|Annexure 7 ||Restated Statement of Other Income |
|Annexure 8 ||Restated Statement of Accounting Ratio |
|Annexure 9 ||Restated Statement of Capitalization |
|Annexure 10 ||Restated Statement of Tax Shelter |
|Annexure 11 ||Deferred Tax Assets & Liabilities |
According to the information and explanations given to us in our opinion the RestatedFinancial Information contained Annexure 1 to 11 accompanying this report read along withthe Significant Accounting Policies and Notes are prepared after making adjustment andregroupings as considered appropriate and have been prepared in accordance with section 26of Part I of Chapter III of the Companies Act 2013 read with Rule 4 to 6 of the Companies( Prospectus and Allotment of Securities) Rules 2014 SEBI-ICDR Regulation and theGuidance Note.
5. This report should not in any way be constructed as reissuance or re dating of anyof the previous audit report issued by us nor should this report be construed as newopinion on any of the financial statements referred to herein.
6. We have no responsibility to update our report for events and circumstancesoccurring after the date of the report.
7. Our report is intended solely for use of the Management for inclusion in the offerdocument to be filed with BSE Limited and Registrar of Companies Ahmedabad in connectionwith the proposed IPO of equity shares of the Company. Our report should not be usedreferred to or distributed for any other purpose except with our prior consent in writing.
|For SINGHI & CO. |
|Chartered Accountants |
|FRN NO: 302049E |
|SUNIL C BOHARA |
|Membership No. 103395 |
|26th June 2021 |
|UDIN: 21103395AAAAEG6684 |