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Indian Terrain Fashions Ltd.

BSE: 533329 Sector: Industrials
NSE: INDTERRAIN ISIN Code: INE611L01021
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51.00

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48.00

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52.80

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OPEN 51.00
PREVIOUS CLOSE 50.30
VOLUME 3422
52-Week high 148.80
52-Week low 48.00
P/E 12.77
Mkt Cap.(Rs cr) 191
Buy Price 46.20
Buy Qty 43.00
Sell Price 50.20
Sell Qty 2150.00
OPEN 51.00
CLOSE 50.30
VOLUME 3422
52-Week high 148.80
52-Week low 48.00
P/E 12.77
Mkt Cap.(Rs cr) 191
Buy Price 46.20
Buy Qty 43.00
Sell Price 50.20
Sell Qty 2150.00

Indian Terrain Fashions Ltd. (INDTERRAIN) - Auditors Report

Company auditors report

TO THE MEMBERS OF INDIAN TERRAIN FASHIONS LIMITED

REPORT ON THE AUDIT OF IND AS FINANCIAL STATEMENTS

OPINION

We have audited the accompanying Ind AS Financial Statements of Indian TerrainFashions Limited ("the Company") which comprises the Balance sheet as at 31stMarch 2019 the Statement of Profit and Loss (including Other Comprehensive income)and the Cash Flow Statement and the Statement of Change in Equity for the year then endedand a summary 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 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 Indian Accounting Standards prescribed under section133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015 asamended ("Ind AS") and other accounting principles generally accepted in Indiaof the state of affairs of the Company as at 31st March 2019 the profit andtotal comprehensive income changes in equity and its cash flows for the year ended onthat date.

BASIS FOR OPINION

We conducted our audit of the Ind AS financial statements in accordance with theStandards on Auditing specified under section 143(10) of the Act (SAs). Ourresponsibilities under those Standards are further described in the Auditor'sResponsibilities for the Audit of the Ind AS Financial Statements section of our report.We are independent of the Company in accordance with the Code of Ethics issued by theInstitute of Chartered Accountants of India (ICAI) together with the independencerequirements that are relevant to our audit of the Ind AS financial statements under theprovisions of the Act and the Rules made thereunder and we have fulfilled our otherethical responsibilities in accordance with these requirements and the ICAI's Code ofEthics. We believe that the audit evidence we have obtained is sufficient and appropriateto provide a basis for our audit opinion on the Ind AS financial statements.

KEY AUDIT MATTERS

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 Matters How the matters were addressed during our audit
Existence and Impairment of Trade Receivables: Our procedures included but were not limited to the following:
Trade Receivables are significant to the Company's financial statements. Performed audit procedures on the existence of trade receivables which included substantive testing of revenue transactions obtaining trade receivables external confirmations and testing the subsequent payments received.
The collectability of trade receivables is a key element of the Company's working capital management which is managed on an on-going basis by its management.
Due to the nature of the business and the requirements of customers various contract terms are in place which impacts the timing of revenue recognition. Given the magnitude and judgment involved in the impairment assessment of trade receivables we have identified this as a key audit matter. Assessed management's assumptions in determining the provision for impairment of trade receivables by analyzing the ageing of receivables assessing significant overdue individual trade receivables and specific local risks combined with the legal documentations where applicable.
As at 31st March 2019 an amount of Rs. 240.06 crores is classified as ‘Receivables considered good and unsecured'. Tested the timing of revenue and trade receivables recognition based on the terms agreed with the customers. We also reviewed on a sample basis terms of the contract with the customers invoices raised etc. as a part of our audit procedures.
Refer Note No. 7 of the Financial Statements Assessed the appropriateness of the disclosures made in Note 7 to the financial statements.
Our audit procedures did not identify any material discrepancies with respect to trade receivables.
Recoverability of Indirect Tax Receivables: Our procedures included but were not limited to the following:
As at 31st March 2019 Other Non-Current Assets in respect of balances with government authorities includes VAT recoverable amounting to ` 0.17 crores which are pending adjudication. We have involved our internal experts to review the nature of the amounts recoverable the sustainability and the likelihood of recoverability upon final resolution.
Refer Note No. 4 to the Financial Statements
Contingent Liabilities: Our procedures included but were not limited to the following:
Assessment of Provision of Taxation Litigations and Claims: Obtained details of completed tax assessments and demands for the year ended 31st March 2019 from the management.
As in 31st March 2019 the Company had a provision in respect of possible or actual taxation disputes litigation and claims to the tune of ` 1.97 crores.
These provisions are estimated using a significant degree of management judgement in interpreting the various relevant rules regulations and practices and in considering precedents in various forums. Assessed the adequacy of tax provisions by reviewing correspondence with the tax authorities.
Refer Note No. 41 in the Financial Statements Assessed the view of the external advisors regarding the likely outcome and magnitude of and exposure to the relevant litigation and claims.
Our internal experts also considered legal precedence and other rulings in evaluating management's position on these uncertain tax positions.
Our audit procedure did not identify any material discrepancies with respect to contingent liabilities.

INFORMATION OTHER THAN THE IND AS FINANCIAL STATEMENTS AND AUDITOR'S REPORT THEREON

The Company's Board of Directors are responsible for the other information. The otherinformation comprises the information included in the Company's Annual Report but does notinclude the financial statements and our report thereon.

Our opinion on the financial statements does not cover the other information and we donot express any form of assurance conclusion thereon.

In connection with our audit of the Ind AS financial statements our responsibility isto read the other information and in doing so consider whether the other information ismaterially inconsistent with the Ind AS financial statements or our knowledge obtainedduring the 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.

MANAGEMENT RESPONSIBILITIES FOR THE IND AS FINANCIAL STATEMENTS

The Company's Board of Directors are 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 total comprehensive income changes in equity and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Indian Accounting Standards (Ind AS) specified under section 133 ofthe Act read with the rule 3 of the Companies (Indian Accounting Standards) Rules 2015as amended.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate implementation and maintenance of 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 managementeither intends to liquidate the Company or to cease operations or has no realisticalternative 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 IND AS FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the Ind AS 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 Ind AS 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 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.

• Obtain an understanding of internal financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under section143(3)(i) of the Act 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 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 AS FinancialStatements including the disclosures and whether the Ind AS Financial Statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

Materiality is the magnitude of misstatements in the Ind AS Financial Statements thatindividually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the Ind AS Financial Statements may be influenced. Weconsider quantitative materiality and qualitative factors in

(i) Planning the scope of our audit work and in evaluating the results of our work; and

(ii) To evaluate the effect of any identified misstatements in the Ind AS FinancialStatements.

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.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the Ind AS Financial Statements ofthe current period and are therefore the key audit matters. We describe these matters inour auditor's report unless law or regulation precludes public disclosure about the matteror when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. 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 (here in after referred to as the "Order") and on the basis of suchchecks of the books and records of the Company as we considered appropriate and accordingto the information and explanations given to us we give in Annexure B a statement on thematters specified in paragraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Companies Act 2013 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 purpose 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 and the statement of changes in Equity dealt with bythis report are in agreement with the books of account;

(d) In our opinion the aforesaid Ind AS Financial Statements comply with the IndianAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

(e) On the basis of the written representations received from the directors as on 31stMarch 2019 and taken on record by the Board of Directors none of the directorsare disqualified as on 31st March 2019 from being appointed as a director interms of Section 164(2) of the Act; and

(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 A". Our report expresses an unmodifiedopinion on the adequacy and operating effectiveness of the Company's internal financialcontrols over financial reporting

(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: In our opinionand to the best of our information and according to the explanations given to us theremuneration paid by the Company to its directors during the year is in accordance withthe provisions of section 197 of 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 as amended inour opinion and to the best of our information and according to the explanations given tous:

i. The Company has disclosed the impact of pending litigations on as at March 31st2019 on its financial position in its Ind AS Financial Statements as referred to in Note31 (c) to the Financial Statements;

ii. The Company did not have any long-term contracts including derivative contracts asat 31st March 2019;

iii. There were no amounts required to be transferred to the Investor Education andProtection Fund by the Company for the year ended 31st March 2019;

For Anil nair & Assoicates For CNGSN & Associates LLP
Chartered Accountants Chartered Accountants
ICAI Firm Registration ICAI Firm Registration
Number 000175S Number 004915S/S200036
sd/- sd/-
Sunil Krishnan V. Vivek Anand
Partner Partner
Membership No.203649 Membership No.208092
Chennai 20th May 2019

ANNEXURE - A

TO THE INDEPENDENT AUDITORS' REPORT ON THE IND AS FINANCIAL STATEMENTS OF INDIANTERRAIN FASHIONS LIMITED

(Referred to in paragraph 2(f) of the Independent Auditors' Report of even date to themembers of Indian Terrain Fashions Limited on the Ind AS Financial Statements forthe year ended 31st March 2019)

REPORT ON THE INTERNAL FINANCIAL CONTROLS OVER FINANCIAL REPORTING UNDER CLAUSE (I) OFSUB-SECTION 3 OF SECTION 143 OF THE COMPANIES ACT 2013 ("THE ACT").

We have audited the internal financial controls over financial reporting of IndianTerrain Fashions Limited ("the Company") as of 31st March 2019in conjunction with our audit of the Ind AS Financial Statements of the Company for theyear ended on that date.

MANAGEMENT'S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Company's management is responsible for establishing and maintaining internalfinancial controls 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 Reportingissued by the Institute of Chartered Accountants of India (‘ICAI'). 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.

AUDITOR'S RESPONSIBILITY

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 on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of Internal Financial Controls both issued by the Institute ofChartered Accountants of India. Those Standards and the Guidance Note require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operate effectively in all materialrespects.

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 Ind AS 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 Company's internal financial controls systemover financial reporting.

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 Ind AS 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 themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the Company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of Ind ASFinancial 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 Ind ASFinancial Statements.

INHERENT 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.

OPINION

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 31st March 2019 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For Anil nair & Assoicates For CNGSN & Associates LLP
Chartered Accountants Chartered Accountants
ICAI Firm Registration ICAI Firm Registration
Number 000175S Number 004915S/S200036
sd/- sd/-
Sunil Krishnan V. Vivek Anand
Partner Partner
Membership No.203649 Membership No.208092
Chennai 20th May 2019

ANNEXURE - B

TO THE INDEPENDENT AUDITORS' REPORT ON THE IND AS FINANCIAL STATEMENTS OF INDIANTERRAIN FASHIONS LIMITED

The Annexure referred to in our Independent Auditors' Report to the members of the IndianTerrain Fashions Limited on the Ind AS Financial Statements for the year ended 31stMarch 2019 we report that:

1. In respect of its Fixed Assets: a. To the best of our knowledge and on the basis ofavailable information we report that the Company has maintained proper records showingfull particulars including quantitative details and situation of fixed assets. b. Asexplained to us the Company has a regular programme of physical verification of its fixedassets by which fixed assets are verified in a phased periodical manner designed to coverall the items over a period of three years. In accordance with this programme certainfixed assets were verified during the year and no discrepancies were noticed on suchverification. In our opinion this periodicity of physical verification is reasonablehaving regard to the size of the Company and nature of its assets. c. According to theinformation and explanations given to us and on the basis of our examination of therecords of the Company the title deeds of immovable properties are held in the name ofthe Company.

2. In our opinion the inventories of the Company have been physically verified duringthe year by the management at reasonable intervals and as explained to us no materialdiscrepancies were noticed on such physical verification.

3. To the best of our knowledge and accordance to the information and explanationsgiven to us the Company has not granted during the year under review any loans securedor unsecured to companies firms limited liability partnerships or other parties coveredin the register maintained under Section 189 of the Act. Consequently in our opinionrequirements of clause (iii) of paragraph 3 of the Order are not applicable.

4. To the best of our knowledge and belief and according to the information andexplanations given to us during the year under review there are no loans investmentsguarantees and securities provided by the Company as specified under Sections 185 and 186of the Companies Act 2013. Therefore in our opinion the provisions of paragraph 3(iv)of the order are not applicable to the Company.

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 Companies (Acceptance of Deposits) Rules 2014 (as amended). Accordingly in ouropinion the provisions of clause 3(v) of the Order are not applicable to the Company.

6. To the best of our knowledge and as explained to us the Central Government has notprescribed the maintenance of cost records under Section 148(1) of the Companies Act 2013for any of the products/services manufactured/rendered by the Company.

7. In respect of Statutory dues: a. According to the information and explanations givento us and on the basis of our examination of the records of the Company amountsdeducted/accrued in the books of account in respect of undisputed statutory duesincluding Provident Fund Employees State Insurance Scheme Income Tax Duty of CustomsDuty of Excise Goods and Services Tax Cess and other material statutory dues asapplicable have generally been regularly deposited during the year by the Company withthe appropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of Provident Fund Employees State Insurance Scheme Income Tax Dutyof Customs Duty of Excise Goods and Services Tax Cess and other material statutory dueswere in arrears as at 31st March 2019 for a period of more than six monthsfrom the date they became payable. b. According to the information and explanations givento us the following amounts have not been deposited by the Company on account ofdisputes: -

(Rs. in Lakhs)
Name of the Statue Nature of Dues Forum Where the dispute is pending Period to which the amount relates Amount
Central Excise Act 1944 Excise duty Appellate Tribunal Central Excise & Service Tax Chennai February 2012 to April 2012 47.43
Central Excise Act 1944 Excise duty Appellate Tribunal Central Excise & Service Tax Chennai May 2012 to September 2012 32.18
Central Excise Act 1944 Excise duty Appellate Tribunal Central Excise & Service Tax Chennai October 2012 to January 2013 23.29
Central Excise Act 1944 Excise duty Commissioner Cen- tral Excise Chennai February 2013 51.82
Central Excise Act 1944 Excise duty Appellate Tribunal Central Excise & Service Tax Chennai October 2015 42.65
Total 197.37

8. Based on our audit procedures and according to the information and explanationsprovided by the management in our opinion the Company has not defaulted in repayment ofloans or borrowing to banks. During the year there are no loans or borrowings fromgovernment nor has it issued any debentures.

9. To the best of our knowledge and according to the information and explanations givento us during the year the Company has not raised any money by way of initial public offeror further public offer (including debt instruments). In our opinion and according to theinformation and explanations given to us the Company has utilised the monies raised byway of term loans for the purposes for which they were raised.

10. To the best of our knowledge and belief and according to the information andexplanations given to us no fraud by the Company or on the Company by its officers oremployees has been noticed or reported during the year.

11. To the best of our knowledge and belief and according to the information andexplanations given to us managerial remuneration has been paid or provided in accordancewith the requisite approvals mandated by the provisions of Section 197 read with ScheduleV to the Act.

12. In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly in our opinion paragraph 3(xii) of the Orderis not applicable.

13. In our opinion and according to the information and explanations given to us andbased on our examination of the records of the Company transactions with its relatedparties are in compliance with Sections 177 and 188 of the Act where applicable anddetails of such transactions have been disclosed in the Ind AS Financial Statements asrequired by the applicable Accounting Standards.

14. According to the information and explanations given to us and based on an overallexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year under review and hence in our opinion reporting requirements under clause3(xiv) of the Order are not applicable to the Company and hence not commented upon.

15. In our opinion and according to the information and explanations given to usduring the year the Company has not entered into any non-cash transactions with itsdirectors or persons connected with him and hence reporting under clause (xv) of paragraph3 of the order is not applicable to the Company.

16. In our opinion and according to the information and explanations given to us theCompany is not required to be registered under Section 45-IA of the Reserve Bank of IndiaAct 1934. Accordingly in our opinion paragraph 3(xvi) of the Order is not applicable.

For Anil nair & Assoicates For CNGSN & Associates LLP
Chartered Accountants Chartered Accountants
ICAI Firm Registration ICAI Firm Registration
Number 000175S Number 004915S/S200036
sd/- sd/-
Sunil Krishnan V. Vivek Anand
Partner Partner
Membership No.203649 Membership No.208092
Chennai 20th May 2019