The Members of
DECCAN HEALTH CARE LIMITED
Report on the Audit of the Standalone Financial Statements
We have audited the standalone financial statements of DECCAN HEALTH CARE LIMITED(the Company) which comprise the balance sheet as at 31th March2022 and the statement of Profit and Loss and statement of cash flows for the periodended 31th March 2022 and notes to the financial statements including asummary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by theCompanies Act 2013 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 March 31 2022 and its profit/loss and its cash flows for the period endedMarch 31 2022.
Basis for Opinion
We conducted our audit in accordance with the 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 statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide 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 statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters andthere is no any Key Audit Matters which need to be reported.
Information Other than the financial statements and Auditor's report thereon
The Company's Board of Directors is responsible for the preparation of the otherinformation. The other information comprises the information included in the ManagementDiscussion and Analysis Board's Report including Annexures to Board's Report BusinessResponsibility Report Corporate Governance and Shareholder's Information but does notinclude the standalone financial statements and our auditor's report 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 our audit of the standalone financial statements our responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the financial statements or our knowledge obtained duringthe course of our audit or otherwise appears to be materially misstated.
If based on the work we have performed we conclude that there is a materialmisstatement of this other information we are required to report that fact. We havenothing to report in this regard.
Responsibility of Management for Standalone Financial Statements
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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the accounting Standardsspecified under section 133 of the Act. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingof the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statement that give a true and fair view andare free from material misstatement 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 concern basis of accounting unless the Boardof Directors either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financialreporting process.
Auditor's Responsibilities for the Audit of the Financial Statements
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 includes 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 exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.
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 financial statementswhether due to fraud or error design and perform audit procedures responsive to thoserisks and obtain audit evidence that is sufficient and appropriate to provide a basis forour opinion. The risk of not detecting a material misstatement resulting from fraud ishigher than for one resulting from error as fraud may involve collusion forgeryintentional omissions misrepresentations or the override of internal control. Obtain anunderstanding of internal control relevant to the audit in order to design auditprocedures that are appropriate in the circumstances. Under section 143(3)(i) of theCompanies Act 2013 we are also responsible for expressing our opinion on whether thecompany has adequate internal financial controls system in place and the operatingeffectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by management. Conclude on theappropriateness of management's use of the going concern basis of accounting and based onthe audit evidence obtained whether a material uncertainty exists related to events orconditions that may cast significant doubt on the Company's ability to continue as a goingconcern. If we conclude that a material uncertainty exists we are required to drawattention in our auditor's report to the related disclosures in the financial statementsor if such disclosures are inadequate to modify our opinion. Our conclusions are basedon the audit evidence obtained up to the date of our auditor's report. However futureevents or conditions may cause the Company to cease to continue as a going concern.Evaluate the overall presentation structure and content of the financial statementsincluding the disclosures and whether the financial statements represent the underlyingtransactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.
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 sub-section (11) ofsection 143 of the Companies Act 2013 we give in the Annexure A' a statement onthe matters specified in paragraphs 3 and 4 of the Order to the extent applicable.
2. 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 and the Cash Flow Statementdealt with by this Report 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 31thMarch 2022 taken on record by the Board of Directors none of the directors isdisqualified as on 31th March 2022 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.
i. 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:
ii. The Company has not any pending litigation which should require to disclose on itsfinancial position. The Company did not have any long-term contracts including derivativecontracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company. iv. The management has represented that tothe best of its knowledge and belief as disclosed in to the accounts no funds have beenadvanced or loaned or invested (either from borrowed funds or share premium or any othersources or kind of funds) by the Company to or in any other persons or entities includingforeign entities (Intermediaries) with the understanding whether recorded inwriting or otherwise that the Intermediary shall: directly or indirectly lend or investin other persons or entities identified in any manner whatsoever (UltimateBeneficiaries) by or on behalf of the Company or provide any guarantee security orthe like to or on behalf of the Ultimate Beneficiaries.
The management has represented that to the best of its knowledge and belief asdisclosed in the accounts no funds have been received by the Company from any persons orentities including foreign entities (Funding Parties) with theunderstanding whether recorded in writing or otherwise that the Company shall: directlyor indirectly lend or invest in other persons or entities identified in any mannerwhatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party orprovide any guarantee security or the like from or on behalf of the UltimateBeneficiaries.
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 (d) (i) and (d) (ii) contain any material misstatement.v. The Company has not declared or paid any dividend during the year.
(g) 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 given to us theremuneration paid by the Company to its directors during the current year is in accordancewith the provisions of Section 197 of the Act. The remuneration paid to any director isnot in excess of the limit laid down under Section 197 of the Act. The Ministry ofCorporate Affairs has not prescribed other details under Section 197(16) of the Act whichare required to be commented upon by us.
|For Keyur Shah & Co. || |
|Chartered Accountants || |
|FRN.: 141173W || |
|Sd/- || |
|Keyur Shah || |
|Proprietor || |
|Membership No.: 153774 ||Date: 30th May 2022 |
|UDIN 22153774AJXPMQ5055 ||Place: Ahmedabad |
Annexure A to the Independent Auditors' Report
Referred to in paragraph 1 under the heading Report on Other Legal &Regulatory Requirement' of our report of even date to the financial statements ofthe Company for the period ended March 31 2022:
i. Property Plant Equipment and intangible Assets:
a. The Company is maintaining proper records showing full particulars includingquantitative details and situation of Property Plant Equipment and intangible Assets;
b. The Property Plant Equipment and intangible Assets are physically verified by themanagement according to a phased programme designed to cover all the items over a periodof three years which in our opinion is reasonable having regard to the size of thecompany and nature of its assets. Pursuant to the programme a portion of the PropertyPlant Equipment and intangible Assets has been physically verified by the managementduring the year and no material discrepancies have been noticed on such verification.
c. The title deeds of all the immovable properties (other than properties where theCompany is the lessee and the lease agreements are duly executed in favour of the lessee)as disclosed in Note 10 on Property plant and equipment and Intangible assets to thestandalone financial statements are held in the name of the Company.
d. The Company has not revalued its Property Plant Equipment and intangible Assetsduring the year. Accordingly the reporting under clause 3(i)(d) of the Order is notapplicable to the company.
e. Based on the information and explanations furnished to us no proceedings have beeninitiated on or are pending against the Company for holding Benami property under BenamiTransactions (Prohibitions) Act 1988(as amended in 2016) (formerly the Benami Transaction(Prohibition) Act 1998(45 of 1988) and Rules made thereunder and therefore the questionof our commenting on whether the company has appropriately disclosed the details in itsstandalone financial statements does not ar0069se.
a. The physical verification of inventory (excluding stocks with third parties) hasbeen conducted at reasonable intervals by the Management during the year and in ouropinion the coverage and procedures of such verification by Management is appropriate.The discrepancies noticed on physical verification of inventory as compared to bookrecords were not 10% or more in aggregate for each class of inventory.
b. The Company does not have any working capital limits in excess of five crores rupees(at any point of time during the year) in aggregate from banks or financial institutionson the basis of security of current assets. Accordingly the provisions of clause 3(ii) ofthe Order are not applicable.
iii. Loans given by the Company:
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 provided any security orgranted advances in the nature of loans secured or unsecured to companies firmslimited liability partnership or any other parties during the year. The Company has madeinvestments granted loans and provided guarantees to companies and other parties inrespect of which the requisite information is provided in clause (a) to (f) as below tothe extent applicable. The Company has not made any investments in or provided anyguarantee or security to firms or limited liability partnership Except as mentioned below:
a) Based on the audit procedures carried out by us and as per the information andexplanations given to us the
Company has provided loans or stood guarantee as below:
(INR in Lakhs)
|Particulars ||Guarantees ||Loans - Unsecured |
|Aggregate amount granted/Provided during the year || |
|-Subsidiary || || |
|-Be Youngstore Private Limited ||0.00 ||0.00 |
|Balance outstanding as at balance sheet date || || |
|-Subsidiary || || |
|- Be Youngstore Private Limited ||0.00 ||1.00 |
b) According to the information and explanations given to us and based on the auditprocedures carried out by us in our opinion the investments made during the year and theterms and conditions of the grant of loans provided during the year are prima facie notprejudicial 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 been stipulated and the repayments orreceipts have been regular.
d) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company there is no overdue amount for more than ninetydays in respect of loans given.
e) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company there is no loan or advance in the nature ofloan granted falling due during the year which has been renewed or extended or freshloans granted to settle the over dues of existing loans given to 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 not granted any loans oradvances in the nature of loans either repayable on demand or without specifying any termsor period of repayment.
iv. Loans to directors & Investment by the Company:
In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Sections 185 and 186 of the Companies Act2013 in respect of the loans and investments made and guarantees and security provided byit as applicable.
The Company has not accepted any deposits or amounts which are deemed to be depositswithin the meaning of Sections 73 74 75 and 76 of the Act and the Rules framed thereunder to the extent notified.
vi. Cost records:
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 of activities carried on by the company. Accordingly the provision ofclause 3(vi) of the Order are not applicable.
vii. Statutory Dues:
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 depositingundisputed statutory dues in respect of provident fund employees' state insurance incometax goods and services tax and Labour welfare fund though there were no delay indepositing undisputed statutory dues including sales tax service tax duty of customsduty of excise value added tax cess and other material statutory dues as applicablewith the appropriate authorities.
|Name of the Statute ||Nature of Dues ||Amount (Rs. In Lakhs) ||Period to which the amount relates ||Due Date of Payment ||Date of Payment |
|The Employees' State Insurance Act 1948 ||Employer and Employee Contribution ||0.41 ||April 2019 ||15th May 2019 ||- |
| || ||0.18 ||May 2019 ||15th June 2019 ||- |
| || ||0.16 ||June 2019 ||15th July 2019 ||- |
| || ||0.10 ||July 2019 ||15th August 2019 ||- |
| || ||0.10 ||August 2019 ||15th Sept 2019 ||- |
| || ||0.10 ||Sept 2019 ||15th Oct 2019 ||- |
| || ||0.09 ||Oct 2019 ||15th Nov 2019 ||- |
| || ||0.07 ||Nov 2019 ||15th Dec 2019 ||- |
| || ||0.07 ||Dec 2019 ||15th Jan 2020 ||- |
| || ||0.07 ||Jan 2020 ||15th Feb 2020 ||- |
| || ||0.11 ||Feb 2020 ||15th April 2020 ||- |
| || ||0.10 ||March 2020 ||15th May 2020 ||- |
| || ||0.03 ||April 2020 ||15th May 2020 ||- |
| || ||0.03 ||May 2020 ||15th June 2020 ||- |
| || ||0.03 ||June 2020 ||15th July 2020 ||- |
| || ||0.05 ||July 2020 ||15th August 2020 ||- |
| || ||0.05 ||August 2020 ||15th Sept 2020 ||- |
| || ||0.05 ||Sep 2020 ||15th Oct 2020 ||- |
| || ||0.04 ||Oct 2020 ||15th Nov 2020 ||- |
| || ||0.04 ||Nov 2020 ||15th Dec 2020 ||- |
| || ||0.04 ||Dec 2020 ||15th Jan 2021 ||- |
| || ||- ||Jan 2021 ||15th Feb 2021 ||- |
| || ||0.04 ||Feb 2021 ||15th March 2021 ||- |
| || ||0.07 ||March 2021 ||15th April 2021 ||- |
| || ||0.02 ||April2021 ||15th of May 2021 ||27/05/2021 |
| || ||0.02 ||May2021 ||15th of June2021 ||23/06/2021 |
| || ||0.02 ||June2021 ||15th of July2021 ||20/07/2021 |
| || ||0.02 ||July2021 ||15th of Aug2021 ||24/08/2021 |
| || ||0.02 ||Aug2021 ||15th of Sep2021 ||07/10/2021 |
| || ||- ||Sep2021 ||15th of Oct2021 ||- |
|Income Tax Act 1961 EPF & MP Act 1952 ||Tax Deducted At Source and Tax Collected at Source Employer Contribution And Employee Contribution ||40.25 ||April 2020 to March 2021 ||7th of next month & for the March'2021 the date would be 30th April2021 ||6.14 paid in July 2021 |
| || ||0.18 ||Oct2019 ||15th of Nov2019 ||- |
| || ||0.18 ||Nov2019 ||15th of Dec2019 ||- |
| || ||0.16 ||Dec2019 ||15th of Jan2020 ||- |
| || ||0.16 ||Jan2020 ||15th of Feb2020 ||- |
| || ||0.32 ||Feb2020 ||15th of March2020 ||- |
| || ||0.30 ||March2020 ||15th of May2020 ||- |
| || ||0.08 ||April2020 ||15th of May2020 ||- |
| || ||0.08 ||May2020 ||15th of June2020 ||- |
| || ||0.08 ||July2020 ||15th of Aug2020 ||- |
| || ||0.08 ||Aug2020 ||15th of Sep2020 ||- |
| || ||0.09 ||Sep 2020 ||15th of Oct 2020 ||- |
| || ||0.09 ||Oct 2020 ||15th of Nov 2020 ||- |
| || ||0.08 ||Nov 2020 ||15th of Dec 2020 ||- |
| || ||0.08 ||Dec 2020 ||15th of Jan 2021 ||- |
| || ||0.08 ||Feb 2021 ||15th of March 2021 ||- |
| || ||0.15 ||March 2021 ||15th of April 2021 ||- |
| || ||0.03 ||April 2021 ||15th of May 2021 ||26/05/2021 |
| || ||0.03 ||May 2021 ||15th of June 2021 ||24/06/2021 |
| || ||0.03 ||June 2021 ||15th of July 2021 ||20/07/2021 |
| || ||0.03 ||July 2021 ||15th of August 2021 ||24/08/2021 |
| || ||0.03 ||August 2021 ||15th of Sept 2021 ||07/10/2021 |
|Income Tax Act 1961 ||Income Tax ||3.70 ||AY 2001-02 || ||- |
|Income Tax Act 1961 ||Income Tax ||1.10 ||AY 2009-10 || ||- |
|Income Tax Act 1961 ||Income Tax ||1.50 ||AY 2018-19 || ||- |
b. According to the information and explanation given to us there have been no dues ofIncome Tax Sales Tax Goods & Service Tax Duty of Customs Duty of Excise ValueAdded Tax outstanding on account of any dispute except as mentioned below:
(Rs. In Lakhs)
|Nature of Statute ||Nature of Dues ||Forum where Dispute is Pending ||Period to which the Amount Relates (Assessment Year) ||Amount |
|Income Tax Act 1961 ||Income Tax ||Jurisdictional AO ||2010-11 ||8.77/- |
|Income Tax Act 1961 ||Income Tax ||CIT(A) 5- Hyderabad ||2017-18 ||451.12/- |
|Income Tax Act 1961 ||Income Tax ||CIT (Appeal) ||2018-19 ||525.35/- |
|Income Tax Act 1961 ||Income Tax ||CIT(Appeal) ||2019-20 ||505.91/- |
viii. Unrecorded income
According to the information and explanations given to us and the records of theCompany examined by us there are no transactions in the books of account that has beensurrendered or disclosed as income during the year in the tax assessments under the IncomeTax Act 1961 that has not been recorded in the books of account. ix. Repayment of Loans:a. According to the records of the Company examined by us and the information andexplanations given to us the Company has not defaulted in repayment of loans or otherborrowings or in the payment of interest to any lender during the year.
b. According to the information and explanations given to us and on the basis of ouraudit procedures we report that the Company has not been declared Willful Defaulter byany bank or financial institution or government or any government authority.
c. In our opinion and according to the information and explanations given to us thecompany has obtained term loans during the year and term loans were applied for thepurpose for which the loans were obtained.
d. According to the information and explanations given to us and the proceduresperformed by us and on an overall examination of the standalone financial statements ofthe Company we report that the Company has not used funds raised on short-term basis forthe long-term purposes.
e. 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.
f. According to the information and explanations given to us and procedures performedby us 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.
x. Utilization of IPO & FPO and Private Placement and Preferential issues:
a. The Company has not raised money by way of initial public offer or further publicoffer (including debt instruments) during the year; b. According to the information andexplanation given to us the Company has not made any preferential allotment or privateplacement of shares or convertible debentures (fully partially or optionally convertible)during the year.
xi. Reporting of Fraud:
a. 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 material fraud by the Company or on the Company noticed or reported duringthe year nor have we been informed of any such case by the Management. b. During thecourse of our examination of the books and records of the Company carried out inaccordance with the generally accepted auditing practices in India and according to theinformation and explanations given to us no report under Section 143(12) of the Act inForm ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules 2014 hasbeen filed with the Central Government. Accordingly the reporting under Clause 3(xi) (b)of the Order is not applicable to the Company.
c. 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 the Company has not receivedwhistle-blower complaints during the year which have been considered by us for anybearing on our audit and reporting.
xii. NIDHI Company:
As the Company is not a Nidhi Company and the Nidhi Rules 2014 are not applicable toit the reporting under Clause 3(xii) of the Order is not applicable to the Company.
xiii. Related Party Transaction:
The Company has entered into transactions with related parties in compliance with theprovisions of Sections 177 and 188 of the Act. The details of such related partytransactions have been disclosed in the standalone financial statements as required underIndian Accounting Standard 24 Related Party Disclosures specified underSection 133 of the Act.
xiv. Internal Audit
a) In our opinion and according to the information and explanation given to us theCompany has an internal audit system commensurate with the size and nature of itsbusiness.
b) The reports of the Internal Auditor for the period under audit have been consideredby us.
xv. Non-Cash Transaction:
The Company has not entered into any non-cash transactions with its directors orpersons connected with him. Accordingly the reporting on compliance with the provisionsof Section 192 of the Act under Clause 3(xv) of the Order is not applicable to theCompany.
xvi. Register under RBI Act 1934:
According to the information and explanations given to us we are of the opinion thatthe company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act 1934 and the company is not a Core Investment Company (CIC) as defined in theregulations made by the Reserve Bank of India accordingly the provisions of clause 3(xvi)of the Order are not applicable;
xvii. Cash Losses According to the information and explanation given to us and based onthe audit procedures conducted we are of opinion that the company has not incurred anycash losses in the financial year and the immediately preceding financial year;
xviii. Auditor's resignation
There has been no resignation of the statutory auditors during the year andaccordingly the provisions of clause 3(xviii) of the Order is not applicable.
xix. Financial Position
According to the information and explanations given to us and on the basis of thefinancial ratios ageing and expected dates of realization 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. Corporate Social Responsibility
The Provision of Section 135 of the Companies Act 2013 in relation to Corporate SocialResponsibility are not applicable to the Company during the year and hence reporting underthis clause is not applicable.
|For Keyur Shah & Co. || |
|Chartered Accountants || |
|FRN.: 141173W || |
|Keyur Shah || |
|Proprietor || |
|Membership No.: 153774 ||Date: 30th May 2022 |
|UDIN -22153774AJXPMQ5055 ||Place: Ahmedabad |
Annexure B to the Independent Auditor's Report of even date on theFinancial Statements of DECCAN HEALTH CARE LIMITED
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 (the Act)
We have audited the internal financial controls over financial reporting of DECCANHEALTH CARE LIMITED (the Company) as of March 31 2022 in conjunction with ouraudit of the financial statements of the Company for the period ended on that date.
Management's Responsibility for Internal Financial Controls
The Board of Directors of the Company is responsible for establishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India. 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 respective company's policies thesafeguarding 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.
Our responsibility is to express an opinion on the internal financial controls overfinancial reporting of the Company based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the Guidance Note) issued by the Institute of Chartered Accountantsof India and the Standards on Auditing prescribed under Section 143(10) of the CompaniesAct 2013 to the extent applicable to an audit of internal financial controls. 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.
Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements 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 internal financial controls system overfinancial reporting of the Company.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles.
A company's internal financial control over financial reporting includes those policiesand procedures that (1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of thecompany; (2) provide reasonable assurance that transactions are recorded as necessary topermit preparation of financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorizedacquisition use or disposition of the company's assets that could have a material effecton the financial statements.
Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion 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.
In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2022 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.
|For Keyur Shah & Co. || |
|Chartered Accountants || |
|FRN.: 141173W || |
|Sd/- || |
|Keyur Shah || |
|Proprietor || |
|Membership No.: 153774 ||Date: 30th May 2022 |
|UDIN :- 22153774AJXPMQ5055 || |