You are here » Home » Companies ยป Company Overview » Jupiter Industries & Leasing Ltd

Jupiter Industries & Leasing Ltd.

BSE: 507987 Sector: Financials
NSE: N.A. ISIN Code: INE990E01016
BSE 00:00 | 20 Jun Jupiter Industries & Leasing Ltd
NSE 05:30 | 01 Jan Jupiter Industries & Leasing Ltd
OPEN 3.14
PREVIOUS CLOSE 3.14
VOLUME 100
52-Week high 3.14
52-Week low 3.14
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.14
CLOSE 3.14
VOLUME 100
52-Week high 3.14
52-Week low 3.14
P/E
Mkt Cap.(Rs cr) 0
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Jupiter Industries & Leasing Ltd. (JUPITERINDS) - Auditors Report

Company auditors report

TO THE MEMBERS

The members of

Jupiter Industries and Leasing Limited

Report on the Audit of the Standalone Financial Statement

Opinion

We have audited the accompanying standalone financial statements of JUPITERINDUSTRIES AND LEASING LIMITED (the "Company") which comprise the BalanceSheet as at March 31 2022 the Statement of Profit and Loss including the statement ofOther Comprehensive Loss the Cash Flow Statement and the statement of Changes in Equityfor the year then ended and notes to the financial statements including a summary ofsignificant accounting policies and other explanatory information (hereinafter referred toas the "standalone financial statements").

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the 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 March 31 2022 its loss including other comprehensive income its cashflows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone Ind AS financial statements in accordance withthe Standards on Auditing (SAs) as specified under section 143(10) of the Act. Ourresponsibilities under those Standards are further described in the 'Auditor'sResponsibilities for the Audit of the Standalone Ind AS Financial Statements' section ofour report. We are independent of the Company in accordance with the ‘Code of Ethics'issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules thereunder and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion on the Standalone Ind AS financial statements.

Key Audit Matters

We have determined that there are no key audit matters to communicate in our report.

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Management Discussion and AnalysisBoard's Report including Annexures to Board's Report Business Responsibility ReportCorporate Governance and Shareholder's Information but does not include the consolidatedfinancial statements 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 standalone financial statements or our knowledgeobtained during 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 material misstatementof this other information we are required to report that fact. We have nothing to reportin this regard.

Management's Responsibilities for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Accounting Standards specified under section 133 of the Act asamended. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the standalonefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

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

The Board of Directors are also responsible for overseeing the Company's financialreporting 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 in accordance with SAs we exercise professional judgment andmaintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalonefinancial statements whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol..

• Obtain an understanding of internal financial control 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 the 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 standalone 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 standalonefinancial statements including the disclosures and whether the standalone financialstatements represent the underlying transactions and events in a manner that achieves fairpresentation.

Materiality is the magnitude of misstatements in the standalone financial statementsthat individually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the standalone financial statements may be influenced. Weconsider quantitative materiality and qualitative factors in (i) planning the scope of ouraudit work and in evaluating the results of our work; and (ii) to evaluate the effect ofany identified misstatements in the standalone financial statements.

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 standalone financial statementsof the current period and are therefore the key audit matters. We describe these mattersin our auditor's report unless law or regulation precludes public disclosure about thematter or 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.

Basis for Qualified Opinion

We draw your attention to Note no 2(b) in respect of going concern and Note No. 13 tothe financial statements that the Company has accumulated losses of Rs.292.20 lakhs(Previous Year Rs.285.77 lakhs) resulting into negative net worth of Rs. 192.20 lakhs(Previous Year Rs. 185.77 lakhs). The Company's current liabilities exceed its currentassets by Rs. 192.20 lakhs (Previous Year Rs. 185.77 lakhs) as on date. Further there iscumulative interest liability of Rs.10061.03 lakhs (Previous year Rs.8414.99 lakhs)

on the outstanding amount payable to Canara bank who assigned the debt to Green MalabarFinance Ventures Limited who thereafter assigned the said debt to Capri Global CapitalLimited who further assigned the said debt to Alchemist Asset Reconstruction CompanyLimited as trustee for the Alchemist XXXVI Trust for which provision is not made in thebooks of account from 1997 till date. The turnover (excluding other income) during theyear ended March 31 2022 is Rs. Nil/- (Previous Year Rs. Nil). These factors along withother matters as set forth in the said notes raise doubts that the Company will be able tocontinue as a going concern. The accounts of the Company have been prepared on the basisthat the Company is a going concern although the ability of the Company to continue itsoperation in the near foreseeable future is dependent on the financial position of theCompany. In view of the above uncertainties we are unable to comment on the ability ofthe Company to continue as ‘going concern' and the consequential adjustments to theaccompanying financial statements if any that might have been necessary had the financialstatements been prepared under liquidation basis.

Qualified Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us except for the effects of the matter described in the Basis for QualifiedOpinion section of our report the aforesaid Ind AS financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India including the IndAS of the state of affairs of the Company as at March 31 2022 its loss (including othercomprehensive loss) cash flows and changes in equity for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act based on our audit we report that:

(a) We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss including the Statement ofOther Comprehensive Income the Cash Flow Statement and Statement of Changes in Equitydealt with by this Report are in agreement with the books of accounts.

(d) In our opinion the aforesaid Standalone Ind AS financial statements comply withthe Accounting Standards specified under Section 133 of the Act read with Companies(Indian Accounting Standards) Rules 2015 as amended.

(e) On the basis of the written representations received from the directors as on March31 2022 taken on record by the Board of Directors none of the directors are disqualifiedas on March 31 2022 from being appointed as a director in terms of Section 164(2) of theAct.

(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 opinion and to the best of our information and according to the explanationsgiven to us no remuneration is paid by the Company to its directors during the year.

(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 if any of pending litigations on its financialposition in its standalone financial statements.

ii. No provision is required for material foreseeable losses on long-term contractsincluding derivative contracts as the Company does not own any such instruments.

iii. No funds are required to be transferred to the Investor Education and ProtectionFund by the Company as there are no unpaid dues.

iv. (a) The Management has represented that to the best of its knowledge and beliefno funds (which are material either individually or in the aggregate) have been advancedor loaned or invested (either from borrowed funds or share premium or any other sources orkind of funds) by the Company to or in any other person or entity including foreignentity ("Intermediaries") with the understanding whether recorded in writingor otherwise that the Intermediary shall whether directly or indirectly lend or investin other persons or entities identified in any manner whatsoever by or on behalf of theCompany ("Ultimate Beneficiaries") or provide any guarantee security or thelike on behalf of the Ultimate Beneficiaries;

(b) The Management has represented that to the best of its knowledge and belief nofunds (which are material either individually or in the aggregate) have been received bythe Company from any person or entity including foreign entity ("FundingParties") with the understanding whether recorded in writing or otherwise that theCompany shall whether directly or indirectly lend or invest in other persons orentities identified in any manner whatsoever by or on behalf of the Funding Party("Ultimate Beneficiaries") or provide any guarantee security or the like onbehalf of the Ultimate Beneficiaries;

(c) Based on the audit procedures that have been considered reasonable and appropriatein the circumstances nothing has come to our notice that has caused us to believe thatthe representations under sub-clause (i) and (ii) of Rule 11(e) as provided under (a) and(b) above contain any material misstatement.

v. No dividend is paid during the year.

2. As required by the Companies (Auditor's Report) Order 2020 (the "Order")issued by the Central Government in terms of Section 143(11) of the Act we give in "AnnexureB" a statement on the matters specified in paragraphs 3 and 4 of the Order.

For Tolia & Associates
Chartered Accountants
ICAI Firm Registration Number: 111017W
Kiran P. Tolia
Proprietor
Membership Number. 043637
Place : Mumbai UDIN:22043637AJVYQO8341
Date : May 30 2022

ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal and RegulatoryRequirements' section of our report to the Members of Jupiter Industries and LeasingLimited of even date)

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 JUPITERINDUSTRIES AND LEASING LIMITED (the "Company") as of March 31 2022 inconjunction with our audit of the standalone Ind AS financial statements of the Companyfor the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Management of the Company 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 (the "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 Act.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting of the Company based on our audit. We conducted ouraudit in accordance with the Guidance Note on Audit of Internal Financial Controls OverFinancial Reporting (the "Guidance Note") issued by the ICAI and the Standardson Auditing prescribed under Section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls overfinancial reporting was established and maintained and if such controls operatedeffectively 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 judgement 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 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 financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial 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 orthatthedegree 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 March 312022 based on the criteria forinternal financial control over financial reporting 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 ICAI.

For Tolia & Associates
Chartered Accountants
ICAI Firm Registration Number: 111017W
Kiran P. Tolia
Proprietor
Membership Number. 043637
Place : Mumbai UDIN:22043637AJVYQO8341
Date : May 30 2022

ANNEXURE ‘B' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal and RegulatoryRequirements' section of our report to the Members of Jupiter Industries and LeasingLimited of even date)

To the best of our information and according to the explanations provided to us by theCompany and the books of accounts and records examined by us in the normal course ofaudit we state that:

i. In respect ofthe Company's Property Plant and Equipment and Intangible Assets:

(a) The Company does not own any property plant and equipment and also intangibleassets. Accordingly reporting under clauses 3(i)(a) to 3(i)(d) ofthe Order are notapplicable.

(b) No proceedings have been initiated or are pending against the Company as at March31 2022 for holding any benami property under the Benami Transactions (Prohibition) Act1988 (as amended in 2016) and rules made thereunder.

ii. (a) The Company does not have any inventory. Accordingly reporting under clause3(ii)(a) of the Order is not applicable.

(b) The Company has not been sanctioned working capital limits in excess of Rs. 5crores in aggregate at any points of time during the year from banks or financialinstitutions on the basis of security of current assets. Accordingly reporting underclause 3(ii)(b) ofthe Order is not applicable.

iii. The Company has not made investments or provided any guarantee/ security tocompanies firms Limited Liability Partnerships and has neither granted secured/unsecuredloans or advances to other parties during the year. Accordingly reporting under clause 3ofthe Order is not applicable.

iv. No loans are granted; no investments are made no guarantees/securities are given.Accordingly reporting under clause 3(iv) of the Order is not applicable.

v. The Company has not accepted any deposit or amounts which are deemed to be deposits.Accordingly reporting under clause 3(v) of the Order is not applicable.

vi. The maintenance of cost records has not been specified by the Central Governmentunder sub-section (1) of section 148 ofthe Companies Act 2013 for the business activitiescarried out bythe Company. Accordingly reporting under clause (vi) ofthe Order is notapplicable.

vii. In respect of statutory dues:

(a) The Company has generally been regular in depositing undisputed statutory duesincluding Goods and Services Tax Provident Fund Employees' State Insurance IncomeTax Sales Tax Service Tax duty of Custom duty of Excise Value Added TaxCess and other material statutory dues applicable to it with the appropriate authorities.

(b) There were no undisputed amounts payable in respect of Goods and Service TaxProvident Fund Employees' State Insurance Income Tax Sales Tax Service Tax dutyofCustom duty of Excise Value Added Tax Cess and other material statutory dues in arrearsas at March 31 2022 for a period of more than six months from the date they becamepayable.

viii. There were no transactions relating to previously unrecorded income that havebeen surrendered or disclosed as income during the year in the tax assessments under theIncome Tax Act 1961(43 of 1961).

ix. (a) The Company has defaulted in repayment of loans taken and interest thereontaken from a bank. Details are as under:

Nature of borrowing Name of lender Amount not paid on due date Whether principal or interest No. of days delay or unpaid Remarks if any
(Rs. In Lakhs) (Rs. In Lakhs)
Cash credit/ overdraft facility Canara Bank 136.07 10061.03 Principal Interest 9060 NA* Refer Note 1

(*as outstanding amount represents cumulative outstanding amount from date of defaultto the balance sheet date)

Note 1 :

Debt is assigned to a private party viz. Green Malabar Finance Ventures Limited whothereafter assigned the said debt to one Capri Global Capital Limited who further assignedthe said debt to one Alchemist Asset Reconstruction Company Limited as trustee for theAlchemist XXXVI Trust.

(b) The Company has not been declared willful defaulter by any bank or financialinstitution or government or any government authority.

(c) The Company has not taken any term loan and there are no outstanding term loans atthe beginning of the year. Accordingly reporting under clause 3(ix)(c) of the Order isnotapplicable.

(d) On an overall examination of the financial statements of the Company funds raisedon short-term basis have prima facie not been used during the year for long-termpurposes.

(e) The Company has no subsidiaries associates or joint ventures. Accordinglyreporting under clause 3(ix)(e) of the Order is not applicable.

(f) The Company has no subsidiaries associates or joint ventures. Accordinglyreporting on clause 3(ix)(f) of the Order is not applicable.

x. (a) The Company has not raised moneys by way of initial public offer or furtherpublic offer (including debt instruments) during the year and hence reportingunder clause 3(x)(a) of the Order is not applicable.

(b) During the year the Company has not made any preferential allotment or privateplacementof shares or convertible debentures (fully or partly or optionally). Accordinglyreporting under clause 3(x)(b) of the Order is not applicable.

xi. (a) No fraud by the Company and no material fraud on the Company has been noticedor reported during the year.

(b) No report under sub-section (12) of section 143 of the Companies Act has been filedin Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules 2014with the Central Government during the year and up to the date of this report.

(c) No whistle blower complaints have been received by the Companyduring the year (andup to the date of this report). Accordingly reporting under clause 3(xi)(c) of the Orderis not applicable.

xii. The Company is not a Nidhi Company. Accordingly reporting under clause (xii) ofthe Order is not applicable.

xiii. The Company is in compliance with Section 177 and 188 of the Companies Act2013with respect to applicable transactions with the related parties and the details ofrelated party transactions have been disclosed in the standalone financial statements asrequired by theapplicable accounting standards.

xiv. (a) The Company has an adequate internal audit system commensurate with thesizeand the nature of its business (b) The Company has not appointed any internal auditor.

xv. The Company has not entered into any non-cash transactions with its Directors orpersons connected with its directors. Accordingly provisions of section 192 of theCompanies Act 2013 are not applicable to the Company.

xvi. (a) The Company is not required to be registered under section 45-IA of theReserve Bank of India Act 1934.

Accordingly reporting under clause 3(xvi)(a) (b) and (c) of the Order is notapplicable.

(b) There is no core investment company within the Group (as defined in the CoreInvestment Companies (Reserve Bank) Directions 2016). Accordingly reporting under clause3(xvi)(d) of the Order is not applicable.

xvii. The Company has incurred cash losses during the current financial year of Rs 6.44lakhs as well as in the immediately financial year of Rs. 5.43 lakhs.

xviii. There has been no resignation of the statutory auditors of the Company duringthe year.

xix. On the basis of the financial ratios ageing and expected dates of realisation offinancial assets and payment of financial liabilities other information accompanying thefinancial statements and our knowledge of the Board of Directors and Management plans andbased on our examination of the evidence supporting the assumptions nothing has come toour attention which causes us to believe that any material uncertainty exists as on thedate of the audit reportindicating that Company is not capable of meeting its liabilitiesexisting at the date of balance sheet as and when they fall due within a period of oneyear from the balance sheet date. We however state that this is not an assurance as tothe future viability of the Company. We further state that our reporting is based on thefacts up to the date of the audit report and we neither give any guarantee nor anyassurance that all liabilities falling due within a period of one year from the balancesheet date will get discharged by the Company as and when they fall due.

xx. Provisions of Section 135 of the Companies Act 2013 are not applicable.Accordingly reporting under clauses 3(xx)(a) and (b) are not applicable to the Company

For Tolia & Associates
* Chartered Accountants
ICAI Firm Registration Number: 111017W
Kiran P. Tolia
Proprietor
Membership Number. 043637
Place: Mumbai UDIN: 2043637AJVYQO8341
Date : May 30 2022

.