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Classic Electricals Ltd.

BSE: 512213 Sector: Others
NSE: N.A. ISIN Code: INE02BR01017
BSE 05:30 | 01 Jan Classic Electricals Ltd
NSE 05:30 | 01 Jan Classic Electricals Ltd

Classic Electricals Ltd. (CLASSICELECTRIC) - Auditors Report

Company auditors report

Report on the Audit of the Standalone Financial Statements Opinion

We have audited the standalone financial statements of Classic Electricals Limited (the"Company") which comprise the standalone balance sheet as at 31st March 2022and the standalone statement of profit and loss (including other comprehensive income)standalone statement of changes in equity and standalone statement of cash flows for theyear then ended and notes to the standalone financial statements including a summary ofsignificant accounting policies and other explanatory information. In our opinion and tothe best of our information and according to the explanations given to us the aforesaidstandalone financial statements give the information required by the Companies Act 2013("Act") in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at 31 March 2022 and its profit and other comprehensive income changes inequity 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) specifiedunder Section 143(10) of the Act. Our responsibilities under those SAs are furtherdescribed in the Auditor's Responsibilities for the Audit of the Standalone 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 standalone 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 on the standalone financial statements.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the standalone financial statements of the current period.These matters were addressed in the context of our audit of the standalone financialstatements as a whole and in forming our opinion thereon and we do not provide aseparate opinion on these matters.

Other Information

The Company's Management and Board of Directors are responsible for the otherinformation. The other information comprises the information included in the Company'sannual report but does not include the standalone financial statements and our auditor'sreport thereon.

Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon. In connection with ouraudit of the standalone financial statements our responsibility is to read the otherinformation and in doing so consider whether the other information is materiallyinconsistent with the standalone financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If based on the work we haveperformed we conclude that there is a material misstatement of this other information weare required to report that fact. We have nothing to report in this regard.

Management's and Board of Directors' Responsibilities for the Standalone FinancialStatements

The Company's Management and Board of Directors are responsible for the matters statedin Section 134(5) of the Act with respect to the preparation of these standalone financialstatements that give a true and fair view of the state of affairs profit/loss and othercomprehensive income changes in equity and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Indian AccountingStandards (Ind AS) 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 were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the standalone financial statements that give atrue and fair view and are free from material misstatement whether due to fraud or error.In preparing the standalone financial statements the Management and Board of Directorsare responsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless the Board of Directors either intends to liquidate the Companyor to cease operations or has no realistic alternative but to do so. The Board ofDirectors is also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalonefinancial 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 standalone financial statements. As part of an audit inaccordance with SAs we exercise professional judgment and maintain professionalskepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone 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.Obtain an understanding of internal control relevant to the audit in order to design auditprocedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Actwe are also responsible for expressing our opinion on whether the company has adequateinternal financial controls with reference to financial statements in place and theoperating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by the Management and Board ofDirectors.

Conclude on the appropriateness of the Management and Board of Directors use of thegoing concern basis of accounting in preparation of standalone financial statements andbased on the audit evidence obtained whether a material uncertainty exists related toevents or conditions that may cast significant doubt on the Company's ability to continueas a going concern. If we conclude that a material uncertainty exists we are required todraw attention in our auditor's report to the related disclosures in the standalonefinancial statements or if such disclosures are inadequate to modify our opinion. Ourconclusions are based on the audit evidence obtained up to the date of our auditor'sreport. However future events or conditions may cause the Company to cease to continue asa going concern.

Evaluate the overall presentation structure and content of the standalone financialstatements including the disclosures and whether the standalone financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation. We communicate with those charged with governance regarding among othermatters 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 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. From the matters communicatedwith those charged with governance we determine those matters that were of mostsignificance in the audit of the standalone financial statements of the current period andare therefore the key audit matters. We describe these matters in our auditor's reportunless law or regulation precludes public disclosure about the matter or when inextremely rare circumstances 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.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2020 ("theOrder") issued by the Central Government of India in terms of Section 143 (11) of theAct we give in the "Annexure A" a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

2. (A) 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 standalone balance sheet the standalone statement of profit and loss (includingother comprehensive income) the standalone statement of changes in equity and thestandalone statement of cash flows dealt with by this Report are in agreement with thebooks of account.

d) In our opinion the aforesaid standalone financial statements comply with the Ind ASspecified under Section 133 of the Act.

e) On the basis of the written representations received from the directors as on 31March 2022 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2022 from being appointed as a director in terms of Section164(2) of the Act.

f) With respect to the adequacy of the internal financial controls with reference tofinancial statements of the Company and the operating effectiveness of such controlsrefer to our separate Report in "Annexure B".

(B) 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:

a) The Company has disclosed the impact of pending litigations as at 31 March 2022 onits financial position in its standalone financial statements - Refer Note 19 to thestandalone financial statements.

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. d) (i) The management has represented thatto 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 theCompany to or in any other persons or entities including foreign entities("Intermediaries") with the understanding whether recorded in writing orotherwise that the Intermediary shall:

directly or indirectly lend or invest in other persons or entities identified in anymanner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company orprovide any guarantee security or the like to or on behalf of the Ultimate Beneficiaries.

(ii) The management has represented that to the best of its knowledge and belief nofunds have been received by the Company from any persons or entities including foreignentities ("Funding Parties") with the understanding whether recorded inwriting or otherwise that the Company shall: directly or indirectly lend or invest inother persons or entities identified in any manner whatsoever ("UltimateBeneficiaries") by or on behalf of the Funding Party or provide any guaranteesecurity or the like from or on behalf of the Ultimate Beneficiaries.

(iii) Based on such audit procedures as considered reasonable and appropriate in thecircumstances nothing has come to our notice that has caused us to believe that therepresentations under sub-clause (c) (i) and (c) (ii) contain any material mis-statement.

e) The company has not declared or paid any dividend during the year.

(C) With respect to the matter to be included in the Auditor's Report under Section197(16) of the Act: In our opinion and according to the information and explanations givento us the remuneration paid by the Company to its directors during the current year is inaccordance with the provisions of Section 197 of the Act. The remuneration paid to anydirector is not in excess of the limit laid down under Section 197 of the Act. TheMinistry of Corporate Affairs has not prescribed other details under Section 197(16) ofthe Act which are required to be commented upon by us.

For N. B. Purohit& Co.
Chartered Accountants
Firm’s Registration Number: 108241W
Place :Mumbai. (Nilkanth B. Purohit)
Date : 30th May 2022 Proprietor
Membership No.31999
UDIN: 22031999AJWTWZ5883

Annexure A

To the Independent Auditors' report on the standalone financial statements of ClassicElectricals Limited for the year ended 31 March 2022

With reference to the Annexure A referred to in the Independent Auditors' report to themembers of Classic Electricals Limited ('the Company') on the standalone financialstatements for the year ended 31 March 2022 we report the following:

(i) a) (A) The Company has maintained proper records showing full particularsincluding quantitative details and situation of PropertyPlant and Equipment

(B) The Company has maintained proper records showing full particulars of intangibleassets.

b) Property Plant and Equipment have been physically verified by the management atreasonable intervals during the year and no material descripancies were identified on suchverification.

c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties (otherthan immovable properties where the Company is the lessee and the leases agreements areduly executed in favour of the lessee) disclosed in the standalone financial statementsare held in the name of the Company.

d) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the Company has not revalued its PropertyPlant and Equipment (including Right of Use assets) or intangible assets or both duringthe year. Accordingly the requirements under paragraph 3(i)(d) of the Order are notapplicable to the Company.

e) According to information and explanations given to us and on the basis of ourexamination of the records of the Company there are no proceedings initiated or pendingagainst the Company for holding any benami property under the Prohibition of BenamiProperty Transactions(Prohibition) Act 1988 and rules made thereunder. Accordingly therequirements under paragraph 3(i)(e) of the Order are not applicable to the Company.(ii)(a) The company is involved in the business of financing and leasing activities.Accordingly it does not hold any inventory and hence the provision stated paragraph3(ii)(a) of the order are not applicable.

(b) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the Company does not have any inventory and hasnot availed any working capital limits in excess of five crore rupees (at any point oftime during the year) in aggregate from banks or financial institutions on the basis ofsecurity of current assets. Accordingly the provisions of clause 3(ii)(b) of the Orderare not applicable.

(iii) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the Company has not given any security oradvance in nature of loans in companies firms limited liability partnership or any otherparties. The Company has made investments provided guarantee and granted loans tocompanies and other parties in respect of which the requisite information is as below.

(a) Based on the audit procedures carried on by us and as per the information andexplanations given to us the Company has provided loans or stood guarantee to any otherentity as below:

Particulars Guarantees Loans
Aggregate amount during the year
- Subsidiaries
- Others
Balance outstanding as at balance sheet date
- Subsidiaries
- Others 890.44

(b) According to the information and explanations given to us and based on the auditprocedures conducted by us in our opinion the investments made guarantees provided andthe terms and conditions of the grant of loans and guarantees provided during the yearare prima facie not prejudicial to the interest of the Company.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company in the case of loans given in our opinion therepayment of principal and payment of interest has not been stipulated and hence we areunable to comment as to whether receipt of principal amount and interest is regular.

(d) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company According to the information and explanationgiven to us no amount is overdue in these respect;

(e) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company in our opinion all loans granted by the companyare repayable on demand and none has been renewed or fresh loans granted to settle theoverdue of existing loans given to the same parties.

(f) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company The company has granted loans or advances inthe nature of loans either repayable on demand or without specifying any terms or periodof repayment required details in respect thereof are as below:

the aggregate amount percentage thereof to the total loans granted aggregate amount of loans granted to Promoters related parties as defined in clause (76) of section 2 of the Companies Act 2013
890.44 100 NIL

(iv) According to the information and explanations given to us and on the basis of ourexamination of records of the Company in respect of investments made and loansguarantees given by the Company in our opinion the provisions of Section 185 and 186 ofthe Companies Act 2013 ("the Act") have been complied with.

(v) According to the information and explanations given to us the Company has notaccepted any deposits within the meaning of Sections 73 to 76 of the Act and the Companies(Acceptance of Deposits) Rules 2014 (as amended). Accordingly reporting under clause3(v) of the Order is not applicable to the Company. According to the information andexplanations given to us no order has been passed by the Company Law Board or NationalCompany Law Tribunal or Reserve Bank of India or any Court or any other Tribunal in thisregard.

(vi) To the best of our knowledge and belief the Central Government has not specifiedmaintenance of cost records under sub-section (1) of Section 148 of the Act in respect ofCompany’s products/ services. Accordingly the provisions of clause 3(vi) of theOrder are not applicable.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted / accrued in the books ofaccount in respect of undisputed statutory dues including Goods and Services Tax ('GST')Provident fund Employees' State Insurance Income-Tax Duty of Customs Cess and otherstatutory dues have been generally regularly deposited by the Company with the appropriateauthorities. According to the information and explanations given to us and on the basis ofour examination of the records of the Company no undisputed amounts payable in respect ofGoods and Services Tax ('GST') Provident fund Employees' State Insurance Income-TaxDuty of Customs Cess and other statutory dues were in arrears as at 31 March 2022 for aperiod of more than six months from the date they became payable. (b)According to theinformation and explanations given to us and on the basis of our examination of therecords of the Company there are no statutory dues relating to Goods and Service TaxProvident Fund Employees State Insurance Income-Tax Duty of Customs or Cess or otherstatutory dues which have not been deposited on account of any dispute.

(viii) According to the information and explanations given to us and on the basis ofour examination of the records of the Company the Company has not surrendered ordisclosed any transactions previously unrecorded as income in the books of account inthe tax assessments under the Income Tax Act 1961 as income during the year.

(ix) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company the Company has not defaulted in repaymentof loans and borrowing or in the payment of interest thereon to any lender.

a. According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the Company has not been declared a willfuldefaulter by any bank or financial institution or government or government authority.

b. According to the information and explanations given to us by the management theCompany has not obtained any term loans during the year. Accordingly clause 3(ix)(c) ofthe Order is not applicable. (b)According to the information and explanations given to usand on an overall examination of the balance sheet of the Company we report that no fundsraised on short-term basis have been used for long-term purposes by the Company.

(c) According to the information and explanations given to us and on an overallexamination of the standalone financial statements of the Company we report that theCompany has not taken any funds from any entity or person on account of or to meet theobligations of its subsidiaries associates or joint ventures as defined under the Act.(d)According to the information and explanations given to us and procedures performed byus we report that the Company has not raised loans during the year on the pledge ofsecurities held in its subsidiaries joint ventures or associate companies (as definedunder the Act).

(x) (a) The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) Accordinglyclause 3(x)(a) of the Order is notapplicable. (b) According to the information and explanations given to us and on the basisof our examination of the records of the Company the Company has not made anypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year. Accordingly clause 3(x)(b) of the Order is not applicable.

(xi) (a) Based on examination of the books and records of the Company and according tothe information and explanations given to us considering the principles of materialityoutlined in Standards on Auditing we report that no fraud by the Company or on theCompany has been noticed or reported during the course of the audit. (b) According to theinformation and explanations given to us no report under sub-section (12) of Section 143of the Companies Act 2013 has been filed by the auditors in Form ADT-4 as prescribedunder rule 13 of Companies (Audit and Auditors) Rules 2014 with the Central Government.(c) According to the information and explanations given to us no whistle blowercomplaints were received by the Company during the year.

(xii) According to the information and explanations given to us the Company is not aNidhi Company. Accordingly clause 3(xii) of the Order is not applicable.

(xiii) In our opinion and according to the information and explanations given to usthe transactions with related parties are in compliance with Section 177 and 188 of theAct where applicable and the details of the related party transactions have beendisclosed in the standalone financial statements as required by the applicable accountingstandards. (xiv) (a) Based on information and explanations provided to us and our auditprocedures in our opinion the Company has an internal audit system commensurate with thesize and nature of its business. (b) We have considered the internal audit reports of theCompany issued till date for the period under audit. (xv) In our opinion and according tothe information and explanations given to us the Company has not entered into anynon-cash transactions with its directors or persons connected to its directors and henceprovisions of Section 192 of the Act are not applicable to the Company. (xvi) (a) TheCompany is not required to be registered under Section 45-IA of the Reserve Bank of IndiaAct 1934. Accordingly clause 3(xvi)(a) of the Order is not applicable.

(b) The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934. Accordingly clause 3(xvi)(b) of the Order is not applicable.

(c) The Company is not a Core Investment Company (CIC) as defined in the regulationsmade by the Reserve Bank of India. Accordingly clause 3(xvi)(c)of the Order is notapplicable.

(d) No other company is part of the group hence the requirement to report on clause3(xvi)(d) of the order is not applicable.

(xvii) The Company has not incurred cash losses in the current and in the immediatelypreceding financial year. (xviii) There has been no resignation of the statutory auditorsduring the year. Accordingly clause 3(xviii) of the Order is not applicable.

(xix) According to the information and explanations given to us and on the basis of thefinancial ratios ageing and expected dates of realisation of financial assets and paymentof financial liabilities other information accompanying the standalone financialstatements our knowledge of the Board of Directors and management plans and based on ourexamination of the evidence supporting the assumptions nothing has come to our attentionwhich causes us to believe that any material uncertainty exists as on the date of theaudit report that the Company is not capable of meeting its liabilities existing at thedate of balance sheet as and when they fall due within a period of one year from thebalance sheet date. We however state that this is not an assurance as to the futureviability of the Company. We further state that our reporting is based on the facts up tothe date of the audit report and we neither give any guarantee nor any assurance that allliabilities falling due within a period of one year from the balance sheet date will getdischarged by the Company as and when they fall due. (xx) In our opinion and according tothe information and explanations given to us the provisions of section 135 towardscorporate social responsibility are not applicable to the company. Accordingly clauses3(xx)(a) and 3(xx)(b) of the Order are not applicable.

For N. B. Purohit& Co.
Chartered Accountants
Firm’s Registration Number: 108241W
Place :Mumbai. (Nilkanth B. Purohit)
Date : 30th May2022 Proprietor
Membership No.31999
UDIN: UDIN: 22031999AJWTWZ5883

Annexure B

To the Independent Auditors' report on the standalone financial statements of ClassicElectricals Limited for the year ended 31 March 2022

Report on the internal financial controls with reference to the aforesaid standalonefinancial statements under Clause (i) of Sub-section 3 of Section 143 of the CompaniesAct 2013 (Referred to in paragraph 2(A)(f) under 'Report on Other Legal and RegulatoryRequirements' section of our report of even date) We have audited the internal financialcontrols with reference to financial statements of Classic Electrcials Limited ("theCompany") as of 31 March 2022 in conjunction with our audit of the standalonefinancial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management and the Board of Directors are responsible for establishingand maintaining internal financial controls based on the internal financial controls withreference to financial statements criteria established by the Company considering theessential components of internal control stated in the Guidance Note. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013 (hereinafter referred to as"the Act").

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols with reference to financial statements based on our audit. We conducted our auditin accordance with the Guidance Note and the Standards on Auditing prescribed undersection 143(10) of the Act to the extent applicable to an audit of internal financialcontrols with reference to financial statements. 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 with reference tofinancial statements were established and maintained and whether such controls operatedeffectively in all material respects. Our audit involves performing procedures to obtainaudit evidence about the adequacy of the internal financial controls with reference tofinancial statements and their operating effectiveness. Our audit of internal financialcontrols with reference to financial statements included obtaining an understanding ofsuch internal financial controls assessing the risk that a material weakness exists andtesting and evaluating the design and operating effectiveness of internal control based onthe assessed risk. The procedures selected depend on the auditor's judgement includingthe assessment of the risks of material misstatement of the standalone financialstatements whether due to fraud or error.

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 withreference to financial statements.

Meaning of Internal Financial controls with Reference to Financial Statements

A company's internal financial controls with reference to financial statements is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial controlswith reference to financial statements include 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 offinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorisations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorised acquisition use ordisposition of the company's assets that could have a material effect on the standalonefinancial statements.

Inherent Limitations of Internal Financial controls with Reference to FinancialStatements

Because of the inherent limitations of internal financial controls with reference tofinancial statements including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls withreference to financial statements to future periods are subject to the risk that theinternal financial controls with reference to financial statements may become inadequatebecause of changes in conditions or that the degree of compliance with the policies orprocedures may deteriorate.

Opinion

In our opinion the Company has in all material respects adequate internal financialcontrols with reference to financial statements and such internal financial controls wereoperating effectively as at 31 March 2022 based on the internal financial controls withreference to financial statements criteria established by the Company considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India (the "Guidance Note").

For N. B. Purohit & Co.
Chartered Accountants
Firm’s Registration Number: 108241W
Place :Mumbai. (Nilkanth B. Purohit)
Date : 30th May2022 Proprietor
Membership No.31999
UDIN: UDIN: 22031999AJWTWZ5883

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