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Almondz Global Securities Ltd.

BSE: 531400 Sector: Financials
NSE: ALMONDZ ISIN Code: INE326B01027
BSE 13:47 | 30 Jan 68.75 -0.70
(-1.01%)
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67.10

HIGH

71.00

LOW

67.10

NSE 13:39 | 30 Jan 69.00 0.55
(0.80%)
OPEN

69.75

HIGH

71.15

LOW

67.60

OPEN 67.10
PREVIOUS CLOSE 69.45
VOLUME 4872
52-Week high 130.35
52-Week low 59.05
P/E 202.21
Mkt Cap.(Rs cr) 178
Buy Price 68.80
Buy Qty 1.00
Sell Price 69.50
Sell Qty 10.00
OPEN 67.10
CLOSE 69.45
VOLUME 4872
52-Week high 130.35
52-Week low 59.05
P/E 202.21
Mkt Cap.(Rs cr) 178
Buy Price 68.80
Buy Qty 1.00
Sell Price 69.50
Sell Qty 10.00

Almondz Global Securities Ltd. (ALMONDZ) - Auditors Report

Company auditors report

Opinion

We have audited the accompanying financial statements of m/s.Almondz Global Securities Limited ("the Company") which comprises theBalance Sheet as at March 31 2022 the Statement of Profit and Loss (including OtherComprehensive Income) the Statement of Changes in Equity the statement of cash flows forthe year then ended and notes to the including a summary of significant accountingpolicies and other explanatory information.

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid financial statements give the information requiredby the Companies Act 2013 ("the Act") in the manner so required and give a trueand fair view in conformity with the Indian Accounting Standards prescribed under section133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015 asamended ("Ind AS") and other accounting principles generally accepted in Indiaof the state of affairs of the Company as at March 31 2022 profit and totalcomprehensive income its cash equity for the year ended on that date.

Basis For Opinion

We conducted our audit in accordance with the Standards on Auditingspecified under section 143(10) of the Act. Our responsibilities under those standards arefurther described in the Auditor?s Responsibilities for the Audit of the FinancialStatements section of our report. We are independent of the Company in accordance with theCode of Ethics issued by the Institute of Chartered Accountants of India(‘ICAI?) together with the ethical requirements that are relevant to our auditof the financial statements under the provisions of the Act and the rules thereunder andwe have fulfilled our other ethical responsibilities in accordance with these requirementsand the Code of Ethics.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our opinion.

Key Audit matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the standalone Ind AS financial statements forthe financial year ended 31 2022. These matters were addressed in the context of ouraudit of the standalone Ind AS financial statements as a whole and in forming our opinionthereon and we do not provide a separate opinion on these matters. For each matter belowour description of how our audit addressed the matter is provided in that context. We havedetermined the matters described below to be the key audit matters to be communicated inour report. We have fulfilled the responsibilities described in the Auditor?sresponsibilities for the audit of the standalone Ind AS financial statements section ofour report including in relation to these matters. Accordingly our audit included theperformance of procedures designed to respond to our assessment of the risks of materialmisstatement of the standalone Ind AS financial statements. The results of our auditprocedures including the procedures performed to address the matters below provide thebasis for our audit opinion on the accompanying Ind AS financial statements.

Information other than the Financial Statements and Auditor?sreport thereon

The Company?s Board of Directors is responsible for the otherinformation. The other information comprises the information included in the AnnualReport but does not include the financial statements and our auditor?s reportthereon. The Annual Report is expected to be made available to us after the date of thisauditor?s report.

Our opinion on the financial statements does not cover the otherinformation and we will not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements ourresponsibility is to read the other information identified above when it becomes availableand in doing so consider whether the other information is materially inconsistent withthe financial statements or our knowledge obtained in the audit or otherwise appears to bematerially misstated.

When we read the Annual Report if we conclude that there is a materialmisstatement therein we are required to communicate the matter to those charged withgovernance as required under SA 720 ‘The Auditor?s Responsibilities Relating toOther Information".

Management responsibility for the Financial Statements

The Company?s Board of Directors is responsible for the mattersstated in section 134(5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the accounting Standardsspecified under section 133 of the Act. This responsibility also includes maintenance ofadequate accounting recordsdoubt onin accordance with the provisions of the Act forsafeguarding of the assets of the Company and for preventing and detecting frauds andother irregularities; selection and application of appropriate implementation andmaintenance of accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatement that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the financial statements management is responsible forassessing the Company?s ability to continue as a going concern disclosing asapplicable matters related to going concern and using the going concern basis ofaccounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so. Those Board of Directors arealso responsible for overseeing the We consider company?s financial reporting process

Auditor?s responsibility for the Audit of the Financial Statements

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

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

Identify and assess the risks of material misstatement of thestandalone financial statements whether due to fraud or error design and perform auditprocedures responsive to those risks and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraud is higher than for one resulting from error as fraudmay involve collusion forgery intentional omissions misrepresentations or the overrideof internal control.

Obtain an understanding of internal financial control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. Undersection 143(3)(i) of the Act we are also responsible for expressing our opinion onwhether the Company has adequate internal financial controls system in place and theoperating effectiveness of such controls.

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

Conclude on the appropriateness of management?s use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast the Company?sability to continue as significant a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor?s report to therelated disclosures in the standalone financial statements or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor?s report. However future events or conditionsmay cause the Company to cease to continue as a going concern.

Evaluate the overall presentation structure and content of thestandalone financial statements including the disclosures and whether the standalonefinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

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

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the standalonefinancial statements of the current period and are therefore the key audit matters. Wedescribe these matters in our auditor?s report unless law or regulation precludespublic disclosure about the matter or when in extremely rare circumstances we determinethat a matter should not be communicated in our report because the adverse consequences ofdoing so would reasonably be expected to outweigh the public interest benefits of suchcommunication.

report on other legal and regulatory requirements

1. As required by Section 143(3) of the Act we report that: a. We havesought and obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes of our audit. b. In our opinionproper books of account as required by law have been kept by the Company so far as itappears from our examination of those books. c. The Balance Sheet the Statement of Profitand Loss including Other Comprehensive Income the Cash Flow Statement and Statement ofChanges in Equity dealt with by this Report are in agreement with the books of account. d.In our opinion the aforesaid financial statements comply with the Ind-AS specified underSection 133 of the Act. e. On the basis of the written representations received from thedirectors as on 31st March 2022 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2022 from being appointed as a director interms of Section 164 (2) of the Act. f. With respect to the adequacy of the internalfinancial controls over financial reporting of the Company and the operating effectivenessof such controls refer to our separate Report in "Annexure A". Ourreport expresses an unmodified opinion on the adequacy and operating effectiveness of thecompany?s internal financial controls over financial reporting. g. With respect tothe matters to be included in the Auditor?s Report in accordance with therequirements of the section 197(16) of the Act as amended: In our opinion and to the bestof our information and according to the explanations given to us the remuneration paid bythe company to its directors during the year is in accordance with the provisions ofsection 197 of the Act. h. With respect to the other matters to be included in theAuditor?s 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 theexplanations given to us: i) The Company has disclosed the impact of pending litigationson its financial position in its financial statements Refer Note 40 to the financialstatements. ii) As informed to us the company did not have any long-term contractsincluding derivative contracts for which there were any material foreseeable losses. iii)As informed to us the company has no amount for transferring to the Investor Educationand Protection Fund by the Company.

iv) (a) The respective Managements of the Company and its subsidiarieswhich are companies incorporated in India whose financial statements have been auditedunder the Act have represented to us that to the best of their knowledge and belief nofunds (which are material either individually or in the aggregate) have been advanced orloaned or invested (either from borrowed funds or share premium or any other sources orkind of funds) by the Company or any of such subsidiaries to or in any other person orentity including foreign entity ("Intermediaries") with the understandingwhether recorded in writing or otherwise that the Intermediary shall directly orindirectly lend or invest in other persons or entities identified in any manner whatsoeverby or on behalf of the Company or any of such subsidiaries ("UltimateBeneficiaries") or provide any guarantee security or the like on behalf of theUltimate Beneficiaries.

(b) The respective Managements of the Company and its subsidiarieswhich are companies incorporated in India whose financial statements have been auditedunder the Act have represented to us that to the best of their knowledge and belief nofunds (which are material either individually or in the aggregate) have been received bythe Company or any of such subsidiaries from any person or entity including foreignentity ("Funding Parties") with the understanding whether recorded in writingor otherwise that the Company or any of such subsidiaries shall directly or indirectlylend or invest in other persons or entities identified in any manner whatsoever by or onbehalf of the Funding Party ("Ultimate Beneficiaries") or provide any guaranteesecurity or the like on behalf of the Ultimate Beneficiaries.

(c) Based on the audit procedures that have been considered reasonableand appropriate in the circumstances performed by us on the Company and its subsidiarieswhich are companies incorporated in India whose financial statements have been auditedunder the Act nothing has come to our notice that has caused us to believe that therepresentations under sub-clause (i) and (ii) of Rule 11(e) as provided under (a) and (b)above contain any material misstatement.

2. As required by the Companies (Auditor?s 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-b astatement on the matters specified in paragraphs 3 and 4 of the Order to the extentapplicable.

For Mohan Gupta & Company
Chartered Accountants
FRN:-006519N
CA Sahil Gupta
Place: New Delhi Partner
Date: 24-05-2022 Membership Number-525626
UDIN: 22525626ANBLAO4682

Annexure - A to the Auditors? report on the internal Financialcontrols 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 financialreporting of m/s. Almondz Global Securities limited ("the Company") as of31 March 2022 in conjunction with our audit of the standalone financial statements of theCompany for the year ended on that date.

Management?s responsibility for internal Financial controls

The Company?s management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India(‘ICAI?). These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were effectivelyfor ensuringoperating the orderly and efficient conduct of its business including adherence tocompany?s policies the safeguarding of its assets the prevention and detection offrauds and errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Companies Act 2013.

Auditors? responsibility

Our responsibility is to express an opinion on theCompany?sreporting internal financial controls over financial reporting based on ouraudit. We conducted our audit in accordance with the Guidance Note on Audit of InternalFinancial Controls over Financial Reporting (the "Guidance Note") and theStandards on Auditing issued by ICAI and deemed to be prescribed under section 143(10) ofthe Companies Act 2013 to the extent applicable to an audit of internal financialcontrols both applicable to an audit of Internal Financial Controls and both issued bythe Institute of Chartered Accountants of India. Those Standards and the Guidance Noterequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting was established and maintained and if such controls operated effectively in allmaterial respects

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness. Our audit of internalfinancial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor?s judgment including the assessment of therisks of material misstatement of the standalone financial statements whether due tofraud or error. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company?s internalfinancial controls system over financial reporting.

Meaning of internal Financial controls over Financial reporting

A company?s internal financial control over financial reporting isa process designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of standalone financial statements for external purposes inaccordance with generally accepted accounting principles. A company?s internalfinancial control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that in reasonable detail accurately and fairlyreflect the transactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permit preparation ofstandalone financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and (3) providereasonable assurance regarding prevention or timely detection of unauthorized acquisitionuse or disposition of the company?s assets that could have a material effect on thestandalone financial statements.

Inherent limitations of internal Financial controls over Financialreporting

Because of the inherent limitations of internal financial controls overincluding the possibility of collusion financial or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate. opinion

In our opinion the Company has in all material respects an adequateinternal financial controls system over financial reporting and such internal financialcontrols over financial reporting were operating effectively as at 31 March 2022 based onthe internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India.

For Mohan Gupta & Company
Chartered Accountants
FRN:-006519N
CA Sahil Gupta
Place: New Delhi Partner
Date: 24-05-2022 Membership Number-525626
UDIN: 22525626ANBLAO4682

Annexure-b to the independent Auditors? report

The Annexure referred to in our Independent Auditors? Report tothe members of the Company on the standalone financial statements for the year ended 31March 2022. To the best of our information and according to the explanations provided tous by the Company and the books of account and records examined by us in the normal courseof audit we state that:

I) In respect of the Company?s Property Plant and Equipment andIntangible Assets.

a) (A) The Company has maintained proper records showing fullparticulars including quantitative details and situation of Property Plant and Equipmentand relevant details of right-of-use assets. (B) The Company has maintained proper recordsshowing full particulars of intangible assets.

b) According to the information and explanations given to us and on thebasis of our examination of the records of the Company the Company has a regularprogramme of physical verification of its Property plant and equipment by which allProperty plant and equipment are verified in a phased manner over a period of threeyears. In accordance with this programme certain Property plant and equipment wereverified during the year. In our opinion this periodicity of physical verification isreasonable having regard to the size of the Company and the nature of its assets. Nomaterial discrepancies were noticed on such verification.

c) According to the information and explanations given to us and on thebasis of our examination of the records of the company the title deeds of immovableproperties (other than properties where the company is the lessee and the lease agreementsare duly executed in favour of the lessee) disclosed in the standalone financialstatements are held in the name of the Company

d) The Company has not revalued any of its Property Plant andEquipment (including right-of-use assets) and intangible.

e) No proceedings have been initiated during the year or are pendingagainst the Company as at March 31 2022 for holding any benami property under the BenamiTransactions (Prohibition) Act 1988 (as amended in 2016) and rules made thereunder.

II) (A) The inventory has been physically verified by the managementduring the year. In our opinion the frequency of such verification is reasonable andprocedures and coverage as followed by management were appropriate. No discrepancies werenoticed on verification between the physical stocks and the book records that were 10% ormore in the aggregate for each class of inventory.

(B) According to the information and explanations given to us and onthe basis of our examination of the records of the Company the Company has beensanctioned working capital limits in excess of five crore rupees in aggregate from bankson the basis of security of current assets. On the basis of information and explanationprovided to us and basis our audit procedures undertaken we have not come across anymaterial difference between the information submitted in the statements filed by theCompany with such banks when compared with the books of account and other relevantinformation provided by the Company.

III) The Company has made investments in companies firms LimitedLiability Partnerships and granted unsecured loans to other parties during the year inrespect of which:

a) The Company has granted any loans secured or unsecured to firmslimited liability partnerships or any other parties during the year. (A) Based on theaudit procedures carried on by us and as per the information and explanations given to usthe Company has granted any loans or advances and guarantees or security to subsidiariesjoint ventures and associates. Details given below:

S. no. Particulars Aggregate Amount of loan/ Guarantee during the year outstanding balance at the end of the year
1 Loan to Subsidiaries 4071.34 Lakhs 21.52 Lakh
2 Corporate Guarantee to Subsidiaries - 1185.58 Lakh

(B) Based on the audit procedures carried on by us and as per theinformation and explanations given to us the Company has not granted any loans oradvances and guarantees or security to other than subsidiaries joint ventures andassociates. Therefore reporting under clause 3(iii)(a)(B) of the order is not applicable.

b) In our opinion the investments made guarantees provided securitygiven and the terms and conditions of the grant of all loans and advances in the nature ofloans and guarantees provided are not prejudicial to the company?s interest

c) In respect of loans granted by the Company the schedule ofrepayment of principal and payment of interest has been stipulated and the repayments ofprincipal amounts and receipts of interest are generally been regular as per stipulation.

d) In respect of loans granted by the Company there is no overdueamount for more than 90 days remaining outstanding as at the balance sheet date.

e) No loan granted by the Company which has fallen due during the yearhas been renewed or extended or fresh loans granted to settle the over dues of existingloans given to the same parties.

f) The Company has granted loans or advances in the nature of loanswhich is repayable on demand during the year.

S. no. Particulars Aggregate Amount of loan during the year outstanding balance at the end of the year Percentage to the total loan granted
1 Loan to Subsidiaries 4071.34 Lakhs 21.52 Lakh 100%

IV) The Company has complied with the provisions of Sections 185 and186 of the Companies Act 2013 in respect of loans granted investments made andguarantees and securities provided as applicable.

V) The Company has not accepted any deposit or amounts which are deemedto be deposits. Hence reporting under clause 3(v) of the Order is not applicable.

VI) The maintenance of cost records has not been specified by theCentral Government under sub-section(1) of section 148 of the Companies Act 2013 for thebusiness activities carried out by the Company. Hence reporting under clause (vi) of theOrder is not applicable to the Company.

VII) In respect of statutory dues:

a) In our opinion the Company has generally been regular in depositingundisputed statutory dues including Goods and Services tax Provident FundEmployees? State Insurance Income Tax Sales Tax Service Tax duty of Custom dutyof Excise Value Added Tax Cess and other material statutory dues applicable to it withthe appropriate authorities. There were no undisputed amounts payable in respect of Goodsand Service tax Provident Fund Employees? State Insurance Income Tax Sales TaxService Tax duty of Custom duty of Excise Value Added Tax Cess and other materialstatutory dues in arrears as at March 31 2022 for a period of more than six months fromthe date they became payable. Except as under:

name of the statute nature of the dues Amount (Rs in lakhs) due date date of Payments
Indian Stamp Act 1899 Stamp Duty 70.66 Not Available as Stamp Duty is collected in States where Payment and Levy Mechanism is not established. Not paid upto 24th May 2022

b) Details of statutory dues referred to in sub-clause (a) above whichhave not been deposited as on March 31 2022 on account of disputes are given below:

nature of Statue nature of dues Forum where dispute is pending Period to which amounts relate Amount
NIL

VIII) There were no transactions relating to previously unrecordedincome that have been surrendered or disclosed as income during the year in the taxassessments under the Income Tax Act 1961 (43 of 1961).

IX) In respect of the borrowings:

a) The company has not defaulted in repayment of loans or otherborrowings or in the payment of interest thereon to any lender.

b) The Company has not been declared wilful defaulter by any bank orfinancial institution or government or any government authority.

c) On the basis of examination of the financial statement the companyhas applied the term loans for the purpose for which the loans were obtained. d) On anoverall examination of the financial statements of the Company funds raised on short-termbasis have prima facie not been used during the year for long-term purposes by theCompany.

e) On an overall examination of the financial statements of theCompany the Company has not taken any funds from any entity or person on account of or tomeet the obligations of its subsidiaries.

f) The Company has not raised any loans during the year on the pledgeof securities held in its subsidiaries joint ventures or associate companies and hencereporting on clause 3(ix)(f) of the Order is not applicable.

X) In respect of the capital raised

a) The Company has not raised moneys by way of initial public offer orfurther instruments) during the year and hence reporting under clause 3(x)(a) of the Orderis not applicable.

b) During the year the Company has not made any preferential allotmentor private placement of shares or convertible debentures (fully or partly or optionally)and hence reporting under clause 3(x)(b) of the Order is not applicable.

XI) a) No fraud by the Company and no material fraud on the Company hasbeen noticed or reported during the year.

b) No report under sub-section (12) of section 143 of the Companies Acthas 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 upto the date of this report.

c) We have taken into consideration the whistle blower complaintsreceived by the company during the year (and upto the date of this report) whiledetermining the nature timing and extent of the audit procedure.

XII) The Company is not a Nidhi Company and hence reporting underclause 3(xii) of the Order is not applicable.

XIII) In our opinion the Company is in compliance with Section 177 and188 of the Companies Act 2013 with respect to applicable transactions with the relatedparties and the details of related party transactions have been disclosed in thestandalone financial statements as required by the applicable accounting standards.

XIV) a) In our opinion the Company has an adequate internal auditsystem commensurate with the size and the nature of its business.

b) We have considered the internal audit reports for the year underaudit issued to the Company during the year and till date in determining the naturetiming and extent of our audit procedures.

XV) In our opinion during the year the Company has not entered into anynon-cash transactions with its Directors or persons connected with its directors. andhence provisions of section 192 of the Companies Act 2013 are not applicable to theCompany.

XVI) a) In our opinion the Company is not required to be registeredunder section 45-IA of the Reserve Bank of India Act 1934.Hence reporting under clause3(xvi)(a) of the Order is not applicable.

b) In our opinion the Company is not required to be registered undersection 45-IA of the Reserve Bank of India Act 1934.Hence reporting under clause3(xvi)(b) of the Order is not applicable.

c) The Company is not a Core Investment Company (CIC) as defined in theregulations made by the Reserve Bank of India. Accordingly clause 3(xvi)(c) of the Orderis not applicable.

d) In our opinion the group has not more than 1 core investmentcompany (as defined in the Core Investment Companies (Reserve Bank) Directions 2016) andaccordingly reporting under clause 3(xvi)(d) of the Order is not applicable.

XVII) The Company has not incurred cash losses during the financialyear covered by our audit and the immediately preceding financial year.

XVIII) There has been no resignation of the statutory auditors of theCompany during the year.

XIX) On the basis of the financial ratios ageing and expected dates ofrealization of financial assets and payment of financial liabilities other informationaccompanying the financial statements and our knowledge of the Board of Directors andManagement plans and based on our examination of the evidence supporting the assumptionsnothing has come to our attention which causes us to believe that any materialuncertainty exists as on the date of the audit report indicating that Company is notcapable of meeting its liabilities existing at the date of balance sheet as and when theyfall due within a period of one year from the balance sheet date. We however state thatthis is not an assurance as to the future viability of the Company. We further state thatour reporting is based on the facts up to the date of the audit report and we neither giveany guarantee nor any assurance that all liabilities falling due within a period of oneyear from the balance sheet date will get discharged by the Company as and when they falldue.

XX) a) Since the section 135 of the Companies Act 2013 does not applyto the company. Therefore reporting under clause 3(XX)(a) is not applicable. b) Since thesection 135 of the Companies Act 2013 does not apply to the company. Therefore reportingunder clause 3(XX)(b) is not applicable.

For Mohan Gupta & Company
Chartered Accountants
FRN:-006519N
CA Sahil Gupta
Place: New Delhi Partner
Date: 24-05-2022 Membership Number-525626
UDIN: 22525626ANBLAO4682

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