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BCPL Railway Infrastructure Ltd.

BSE: 542057 Sector: Engineering
NSE: N.A. ISIN Code: INE00SW01015
BSE 00:00 | 01 Jul 34.10 -0.10
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NSE 05:30 | 01 Jan BCPL Railway Infrastructure Ltd
OPEN 34.20
PREVIOUS CLOSE 34.20
VOLUME 6397
52-Week high 63.40
52-Week low 31.00
P/E 7.70
Mkt Cap.(Rs cr) 57
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 34.20
CLOSE 34.20
VOLUME 6397
52-Week high 63.40
52-Week low 31.00
P/E 7.70
Mkt Cap.(Rs cr) 57
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

BCPL Railway Infrastructure Ltd. (BCPLRAILWAY) - Auditors Report

Company auditors report

TO THE MEMBERS OF

BCPL RAILWAY INFRASTRUCTURE LIMITED

Report on the Audit of the Ind AS Financial Statements

Opinion

1. We have audited the accompanying Ind AS financial statements of BCPL RAILWAYINFRASTRUCTURE LIMITED ("the Company") which comprise the Balance Sheet as at31st March 2021 the Statement of Profit and Loss (including Other Comprehensive Income)the Statement of Cash Flows the Statement of Changes in Equity for the year then ended onthat date and notes to the financial statements including a summary of significantaccounting policies and other explanatory information (herein after referred to as"Ind AS Financial Statements".

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Ind AS financial statements give the information required bythe Companies Act 2013 ("the Act") in the manner so required and give a trueand fair view in conformity with the accounting principles generally accepted in India ofthe state of affairs of the Company as at March 31 2021 its profit (including OtherComprehensive Income) Changes in equity and its cash flows for the year ended on thatdate.

Basis for Opinion

2. We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Act. Our responsibilities under those Standards are furtherdescribed in the Auditor's Responsibilities for the Audit of the Ind AS 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 together with theethical requirements that are relevant to our audit of the Ind AS financial statementsunder the provisions of the Act and the Rules thereunder and we have fulfilled our otherethical responsibilities in accordance with these requirements and the Code of Ethics. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our opinion.

Emphasis of Matter

3. We draw attention to Note 42 to the financial statements which state that thefinancial statements of the three Jointly Controlled Entities for the year ended 31stMarch 2021 is yet to be prepared and consequently the Company could not record the impactthereof on the profit for the year and the investment of the Company. Any adjustment uponpreparation and the audit of these entities by their respective auditors to could haveconsequential effects on the Financial Statements of the Company. However according tothe information and explanations given to us by the Company's Management the impact onthe profit for the year and the yearend shareholders' fund will not be material.

Our opinion is not modified in respect of this matter.

Key Audit Matters

4. Key Audit Matters are those matters that in our professional judgment were of mostsignificance in our audit of the Ind AS financial statements of the current period. Thesematters were addressed in the context of our audit of the financial statements as a wholeand in forming our opinion thereon and we do not provide a separate opinion on thesematters. We have determined the matters described below to be the key audit matters to becommunicated in our report:

Key Audit Matter Response to Key Audit Matter
Change in financial reporting framework - First time adoption of Indian Accounting Standards ('Ind AS') Principal Audit Procedures
The Company has migrated from SME platform of BSE Limited to Main Board of BSE Limited w.e.f. 4th January 2021. The Company has adopted Ind AS from April 1 2020 with an effective date of April 1 2019 for such transition. For periods up to and including the year ended March 31 2020 the Company had prepared and presented its financial statements in accordance with the erstwhile generally accepted accounting principles in India (Previous GAAP). In order to give effect of the transition to Ind AS these financial statements for the year ended March 31 2021 together with the comparative financial information for the previous year ended March 31 2020 and the transition date balance sheet as at April 1 2019 have been prepared under Ind AS. Our audit procedures with regard to the 1st time adoption of Ind AS included assessing the judgements applied by the Management in this regard:
The transition to Ind AS has involved changes in the Company's policies and processes relating to financial reporting. Further the management has also exercised judgement (wherever applicable) in giving effect to various principles of Ind AS in its first-time adoption. In view of the complexity and the resultant risk of a material misstatement arising from an error or omission in correctly implementing the principles of Ind AS at the transition date which could result in a misstatement of one or more periods presented in these Ind AS financials statements this has been an area of significance in our audit. • Reading the Ind AS impact assessment performed by the management to identify areas which were impacted on account of Ind AS transition;
• Understanding the financial statement closure process and the controls established by the Company for transition to Ind AS;
• Reading and assessing the changes made to the accounting policies due to the requirements of the new financial reporting framework;
• Assessing the judgements exercised by the management in applying the first-time adoption principles of Ind AS 101 as at transition date;
• Testing accounting adjustments posted as at the transition date and in respect of the previous year to convert the financial information reported under erstwhile Indian GAAP to Ind AS;
• Assessing the disclosures included in the Ind AS Financial Statements in accordance with the requirements of Ind AS (including with respect to the previous periods presented).
• Assessing the related IT system and manual controls implemented for effective accounting.
Revenue recognition - accounting for construction contracts Princioal Audit Procedures
There are significant accounting judgements including estimation of costs to complete determining the stage of completion and the timing of revenue recognition. The Company recognises revenue and profit/loss on the basis of stage of completion based on the proportion of contract costs incurred at reporting date relative to the total estimated costs of the contract at completion. The recognition of revenue and profit/loss therefore rely on estimates in relation to total estimated costs of each contract. Cost contingencies are included in these estimates to take into account specific uncertain risks or disputed claims against the Company arising within each contract. These contingencies are reviewed by the Management on a regular basis throughout the contract life and adjusted where appropriate. In responding to the identified key audit matter we completed the following audit procedures:
• Testing of the design and implementation of controls involved for the determination of the estimates used as well as their operating effectiveness;
• Testing the relevant information technology systems' access and change management controls relating to contracts and related information used in recording and disclosing revenue in accordance with the new revenue accounting standard;
• Testing a sample of contracts for appropriate identification of performance obligations;
• For the sample selected reviewing for change orders and the impact on the estimated costs to complete;
• Engaging technical experts to review estimates of costs to complete for sample contracts; and
Performed analytical procedures for reasonableness of revenues disclosed by type and service offerings
Contingent Liabilities Principal Audit Procedures
The Company operates in a complex tax environment and is required to discharge direct and indirect tax obligations under various legislations such as Income Tax Act 1961 the Finance Act 1994 and VAT Acts of various states. In assessing the exposure of the Company for the tax litigations we have performed the following procedures:
The tax authorities under these legislations have raised certain tax demands on the Company in respect of the past periods. The Company has disputed such demands and has appealed against them at appropriate forums. As at March 31 2021 the Company has an amount of Rs. 262.56 Lakhs involved in various pending tax litigations. • Obtained an understanding of the process laid down by the management for performing their assessment taking into consideration past legal precedents changes in laws and regulations expert opinions obtained from external tax / legal experts (as applicable);
Ind AS 37 requires the Company to perform an assessment of the probability of economic outflow on account of such disputed tax matters and determine whether any particular obligation needs to be recorded as a provision in the books of account or to be disclosed as a contingent liability. Considering the significant degree of judgement applied by the management in making such assessments and the resultant impact on the financial statements we have considered it to be an area of significance for our audit. • Assessed the processes and entity level controls established by the Company to ensure completeness of information with respect to tax litigations;
• Along with our tax experts we undertook the following procedures:
• Reading communications with relevant tax authorities including notices demands orders etc. relevant to the ending litigations as made available to us by the management;
• Testing the accuracy of disputed amounts from the underlying communications received from tax authorities and responses filed by the Company;
• Considered the submissions made to appellate authorities and expert opinions obtained by the Company from external tax / legal experts (wherever applicable) which form the basis for management's assessment;
• Assessed the positions taken by the management in the light of the aforesaid information and based on the examination of the matters by our tax experts.
• Read the disclosures included in the Ind AS Financial Statements in accordance with Ind AS 37.

Other Information

5. The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in Board's Report including Annexures toBoard Report and Shareholders' Information but does not include the Ind AS financialstatements and our auditor's report thereon. The aforesaid documents are expected to bemade available to us after the date of this auditor's report.

6. Our opinion on the Ind AS financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon.

7. In connection with our audit of the Ind AS financial statements our responsibilityis to read the other information when it becomes available and in doing so considerwhether the other information is materially inconsistent with the Ind AS financialstatements or our knowledge obtained in the audit or otherwise appears to be materiallymisstated.

8. When we read the aforesaid documents if we conclude that there is a materialmisstatement therein we are required to communicate the matters to those charged withgovernance.

Responsibility of Management for Ind AS Financial Statements

9. The Company's Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese Ind AS financial statements that give a true and fair view of the financialposition financial performance changes in equity and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theaccounting Standards specified under section 133 of the Act. This responsibility alsoincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the Ind AS financial statementthat give a true and fair view and are free from material misstatement whether due tofraud or error.

10. In preparing the Ind AS financial statements management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

11. The Board of Directors are also responsible for overseeing the company's financialreporting process.

Auditor's Responsibility for the Audit of the Ind AS Financial Statements

12. Our objectives are to obtain reasonable assurance about whether the Ind ASfinancial 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. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these Ind ASfinancial statements.

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

• Identify and assess the risks of material misstatement of the Ind AS financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

• Obtained an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Companies Act 2013 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 the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe Ind AS financial statements or if such disclosures are inadequate to modify ouropinion. Our conclusions are based on the audit evidence obtained up to the date of ourauditor's report. However future events or conditions may cause the Company to cease tocontinue as a going concern.

• Evaluate the overall presentation structure and content of the Ind ASfinancialstatements including the disclosures and whether the Ind AS financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

14. We communicate with those charged with governance regarding among other mattersthe planned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

15. We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

16. From the matters communicated with those charged with governance we determinethose matters that were of most significance in the audit of the Ind AS financialstatements of the current period and are therefore the key audit matters. We describethese matters in our auditor's report unless law or regulation precludes public disclosureabout the matters or when we determine that a matter should not be communicated in ourreport because the adverse consequences of doing so would reasonably be expected tooutweigh the public interest benefits of such communication.

17. Materiality is the magnitude of misstatements in the financial statements thatindividually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the financial statements may be influenced. We considerquantitative materiality and qualitative factors in (i) planning the scope of our auditwork and in evaluating the results of our work; and (ii) to evaluate the effect of anyidentified misstatements in the financial statements.

Other Matter

18. The comparative Financial Statements of the Company for the year ended 31st March2020 included in these Ind AS Financial Statements has been prepared by converting thenon Ind AS financial statements for the year ended 31st March 2020 into Ind AS. Theaforesaid financial statements were audited by the predecessor auditor who expressed anunmodified opinion on those statements.

Report on Other Legal and Regulatory Requirements

19. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub -section (11) of section 143 ofthe Act we give in the Annexure-A a statement on the matters specified in paragraphs 3and 4 of the Order to the extent applicable.

20. 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 bestof 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 theCompany so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss (including other comprehensiveincome) and the Cash Flow Statement Statement of Changes in Equity dealt with by thisreport are in agreement with the books of account.

(d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2021 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2021 from being appointed as a director in termsof Section 164 (2) of the Act;

(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B".

(g) With respect to the other matters to be included in the Auditor's Report inaccordance with the requirements of section 197(16) of the Act as amended:

According to the information and explanations given to us and based on our examinationof the records of the Company the Company has paid/provided for managerial remunerationin accordance with the requisite approvals mandated by the provisions of Section 197 readwith Schedule V to the Act.

(h) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

a. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements - refer Note 42.

b. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

c. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

ANNEXURE- A: TO THE INDEPENDENT AUDITOR'S REPORT Tothe Members of ICPL RAILWAYINFRASTRUCTURE LIMITED

[Referred to in paragraph 19 of the Auditors' Report of even date]

1. (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) The Property Plant & Equipment are physically verified by the managementaccording to a phased Programme designed to cover all the items over a period of threeyears which in our opinion is reasonable having regard to the size of the Company andthe nature of its assets. Pursuant to the programme a portion of the Property Plant& Equipment has been physically verified by the management during the year and nomaterial discrepancies between the book records and the physical inventory have beennoticed.

(c) As per the information and explanation given to us and on the basis of ourexamination of the title deeds of the Company's immovable properties produced to us theimmovable properties are held in the name of the Company.

2. The Company does not hold any inventory as on 31st March 2021.

3. The Company has not granted any loans secured or unsecured to companies firmsand limited liability partnership or other parties covered in the register maintainedunder Section 189 of the Act.

4. According to the information and explanations given to us and the records of theCompany examined by us the Company has not made any investment advanced any loan orprovided any securities to others during the year. However the Company had given acorporate guarantee on behalf of Phoenix Overseas Limited to their lender to the extent ofRs. 3724 lakhs.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits within the meaning of Sections 73 to 76 of the Actand the rules framed there under.

6. The Central Government of India has not prescribed maintenance of cost records undersubsection (1) of Section 148 of the Act for any of the products of the Company.

7. (a) According to the information and explanations given to us and the records of theCompany examined by us in our opinion the Company is generally regular in depositing theundisputed statutory dues including provident fund employees' state insuranceincome-tax duty of customs goods and service tax cess and any other statutory dues asapplicable with the appropriate authorities.

(b) According to the information and explanations given to us and the records of theCompany examined by us the particulars of dues of Sales Tax Service Tax as at 31stMarch 2021 which have not been deposited on account of a dispute are as follows

Name of the statute Nature of dues Amount (In Rs.)* Period to which the amount relates Forum where the dispute is pending
West Bengal Value Added Tax Act 2003 Sales Tax 1940811 FY 2006-07 W.B. Appellate & Revisional Board Kolkata
Odisha Sales Tax Act Sales Tax 1679776 01.04.2005 to 30.11.2008 Commissioner of Sales Tax Bhubaneswar Orissa
Goods and Services Tax Act Service Tax 3632967 FY 2008-09 Customs Excise & Service Tax Appellate Tribunal Kolkata
Goods and Services Tax Act Service Tax 581241 FY 2006-07 to FY 2011-12 Customs Excise & Service Tax Appellate Tribunal Kolkata
Goods and Services Tax Act Service Tax 15057011 FY 2012-13 to FY 2016-17 Customs Excise & Service Tax Appellate Tribunal Kolkata
Odisha Sales Tax Act Sales Tax 3364980 FY 2008-09 to 2011-12 Asst. Comm of Sales Tax Cuttack Odisha

* Excluding Interest and Penalty not yet determined

* Amount is net of payments made under Protest

8. According to the information and explanation given to us and the records of theCompany examined by us the Company has not defaulted in repayment of dues of any of loansor borrowings to any banks.

The Company has neither taken any loan from financial institutions or Government norissued any debentures.

9. In our opinion and according to the information and explanation given to us on anoverall basis the money raised by Company during the year by way of term loan have beenapplied for the purpose for which they were obtained.

The Company has not raised any money by way of initial public offer or further publicoffer (including debt instruments).

10. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of fraud by the Company nor on the Company by its officers or employees has beennoticed or reported during the year nor have we been informed of such case by themanagement.

11. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofSection 197 read with Schedule V to the Act.

12. The related statutes are not applicable as the Company is not a Nidhi Company.

13. According to the information and explanations given to us and the records of theCompany examined by us the company has complied with the requirements of sections 177 and188 of the Act with respect to its transactions with the related parties. Pursuant to therequirement of the applicable Accounting Standard details of the related partytransactions have been disclosed in Note 35 of the Ins AS financial statements for theyear under audit.

14. The Company has neither made any preferential allotment of shares nor fully orpartly convertible debentures during the year under audit.

15. According to the information and explanations given to us and the records of theCompany examined by us the Company has not entered into any non-cash transactions withany director of the Company and the holding Company or persons connected with theminvolving acquisition of assets by or from them for consideration other than cash.

16. In our opinion and according to the information and explanations given to us notbeing a nonbanking financial company the Company is not required to be registered undersection 45-IA of the Reserve Bank of India Act 1934.

ANNEXURE- B TO THE INDEPENDENT AUDITOR'S REPORT To the Members of BCPL RAILWAYINFRASTRUCTURE LIMITED

[Referred to in paragraph 20 (f) of the Independent Auditor's Report of even date]

Report on the Internal Financial Control under Clause (i) of Sub -sections 3 of Section143 of the Companies Act 2013( "the Act")

1. We have audited the internal financial controls over financial reporting of BCPLRAILWAY INFRASTRUCTURE LIMITED ("the Company") as of 31st March 2021in conjunction with our audit of the financial statements of the Company for the yearended on that date.

Management's Responsibility for Internal Financial Control

2. The Company's management is responsible for establishing and maintaining internalfinancial control based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the"Guidance Note") issued by the Institute of Chartered Accountants of India(ICAI). These responsibilities include the design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of its business including adherence to company's policiesthe safeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Companies Act 2013.

Auditors' Responsibility

3. Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the "Guidance Note" and the Standard on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Act to the extent applicable. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includesobtaining an understanding of internal financial control over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal controls based on the assessed risk. The procedureselected depends on the auditor's judgment including the assessment of the risk ofmaterial misstatement of the financial statement whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Control over Financial Reporting

6. A Company's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A Company's internal financial control overfinancial reporting includes those policies and procedures that

1) Pertain to the maintenance of the records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company.

2) provide reasonable assurance that the transactions are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditure of the Company are being madeonly in accordance with authorization of management and directors of company; and

3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the Company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Control over Financial Reporting

7. Because of inherent limitation of internal financial control over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to errors or fraud may occur and not be detected.Also projections of any evaluations of the internal financial control 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

8. In our opinion the Company has in all material respect an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31st March 2021based on the 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 Control Over Financial Reporting issued by ICAI.

For L. B. Jha & Co.
Chartered Accountants
Firm Registration No: 301088E
(D.N. Roy)
Place: Kolkata Partner
Date: 14.05.2021 Membership No. 300389
UDIN: 21300389AAAAEU8131

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