To the Member's of M/s Brawn Biotech Limited
Report on the ind AS Financial Statement Opinion
We have audited the financial statements of Brawn Biotech Limited ("thecompany") which comprise the balance sheet as at 31st march 2019 and thestatement of profit and loss including the statement of Other Comprehensive Incomestatement of cash flows and statement of changes in equity for the year ended and notesto the financial statement including a summary of significant accounting policies andother explanatory information.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements given the information requiredby the Act in the manner so required and given a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at March 31 2019 and profit &loss (changes in equity) and its cash flows for theyear ended
on that date.
Basic for Opinion
We have conducted our audit in accordance with standards on Auditing (SAs) Specifiedunder section 143(10) of the Companies Act 2013.Our responsibilities under thosestandards are further described in the Auditor's Responsibilities for the Audit of thefinancial statements section of our report. We are independent of the company inaccordance with the code of Ethics issued by the institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statement under the provisions of the Companies Act 2013 and the rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis sufficient and appropriate provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statement as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.
We have determined that there are no key audit matters to communicate in our report.
Management's Responsibility for the standalone financial statements
The company's Board of Directors is responsible for the matter stated in section 134(5)of the companies Act 2013 ("the Act") with respect to the preparation of thesestandalone financial statement that given a true and fair view of the financial positionfinancial performance changes in equity and cash flow 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 of adequate records in accordance withprovisions of the Act for safeguarding of the assets of the company and for preventing anddetecting frauds and other irregularities; section and application of appropriateimplementation and maintenance of accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statement that given a true and fair view and are free from materialmisstatement whether due to fraud or error.
In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going the going concern basis of accounting unlessmanagement either intends to liquidate the company or to cease operation or has norealist alternative but to do so. Those board of directors are also responsible foroverseeing the company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Statement
Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that include our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exits.
Misstatement can arise from fraud or error and are considered material if individuallyor in the aggregate they could reasonably be expected to influence the economic decisionof user taken on the basis of these financial
Report on Other Legal and Regulatory requirements
As required by the Companies (Auditor's Report) Order 2016("theorder")
Issued by the central Government of Indian in items of sub section (11) ofsection 143 of companies Act 2013 we give in the Annexure a statement on the mattersspecified in paragraphs 3 and 4 of the order to the extent applicable.
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 bestour knowledge and belief were necessary for the purpose 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 and the cash flow statement dealt with by this report are in agreement with thebook of account. d) In our opinion the aforesaid standalone financial statements complywith the accounting standard specified under section 133 of the act read with rule 7 ofthe companies (Accounts) Rules 2014.
e) On the basis of the written representations received from the directors as on 31stMarch 2019 taken on record by the board of directors none of the directors isdisqualified as on 31st March 2019 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 2".
g) With respect to the other matters to be included in the auditor's report inaccordance with rule 11 of the companies (Audit and Auditor's) rules 2014 in our opinionand to the best of our information and according to the explanations given to us.
h) The company has disclosed the impact of pending litigations on its financialposition in its financial statements.-refer Note 1 to the financial statements.
The company did not have any long term contracts including derivative contractsfor which there were any material foreseeable losses.
There were no amounts which were required to be transferred to the Investor Educationand Protection fund by the company.
| ||For Rajiv Udai and Associates |
| ||Chartered Accountants |
| ||FRN: 018764N |
| ||Sd/- |
| ||Rajeev Jain |
| ||Partner |
| ||M.No: 099767 |
|Place: Delhi || |
|Date: 22-05-2019 || |