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Lancor Holdings Ltd.

BSE: 509048 Sector: Infrastructure
NSE: N.A. ISIN Code: INE572G01025
BSE 00:00 | 24 May 26.60 -1.40
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NSE 05:30 | 01 Jan Lancor Holdings Ltd
OPEN 28.95
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VOLUME 28040
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Buy Price 0.00
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OPEN 28.95
CLOSE 28.00
VOLUME 28040
52-Week high 28.95
52-Week low 5.60
P/E
Mkt Cap.(Rs cr) 108
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Lancor Holdings Ltd. (LANCORHOLDINGS) - Auditors Report

Company auditors report

TO THE MEMBERS OF LANCOR HOLDINGS LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of LancorHoldings Limited ("the Company") which comprise of the Balance sheet as at31st March 2021 the statement of Profit and Loss (including Other Comprehensive Income)Statement of Changes in Equity and Cash Flow Statements for the year then ended and notesto the financial statements including a summary of the significant accounting policiesand other explanatory information (hereinafter referred to as "standalone financialstatements'').

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone financial statements give theinformation required by the Companies Act 2013 ("the Act") in the manner sorequired and give a true and fair view in conformity with the Indian Accounting Standardsprescribed under Section 133 of the Act read with the Companies (Indian AccountingStandard) Rules 2015 as amended ("Ind AS") and other accounting principlesgenerally accepted in India of the state of affairs of the Company as at March 31 2021and it's loss (including other comprehensive income) the changes in equity and itscash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditingspecified under section 143(10) of the Act. Our responsibilities under those Standards arefurther described in the Auditor's Responsibilities for the Audit of the FinancialStatements section of our report. We are independent of the Company in accordance with theCode of Ethics issued by the Institute of Chartered Accountants of India("ICAI") together with the ethical requirements that are relevant to our auditof the financial statements under the provisions of the Act and the Rules framedthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the ICAI's Code of Ethics. We believe that the audit evidencewe have obtained is sufficient and appropriate to provide a basis for our opinion on thestandalone financial statements.

Emphasis of Matter

We draw your attention to a) note no. 4.02(a) regarding pendinglitigation to one of the commercial properties accounted as investment property having acarrying value of Rs. 3149.43 lakhs. b) note no. 4.12(b) relating to circumstanceswhich have been considered for determining the period for capitalization of borrowing costas part of construction work in progress.

Our opinion is not modified in respect of the above matters.

Key Audit Matters

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

We have determined the matters described below to be key audit mattersto be communicated in our report.

Matter Key Audit Matter How the matter was addressed in our audit
Revenue Recognition The Company derives revenue primarily form real estate activity. We have performed analytical reviews of the revenue and the margins reported and has also discussed these matters with the management.
Based on terms of the contracts with the customers revenue relating to the under-construction real-estate projects is recognized over time i.e. by applying the percentage of completion method. We have discussed with the management the principles methods and assumptions based on which the budget estimates relating to the project are made.
Under this method revenue and construction cost is recognized based on the assumptions and estimates relating to under development project. Considering the element of assumptions and estimate and the amount involved in relation to the same it is considered as a key audit matter. We have reviewed the project completion percentage and the project cost and we also reviewed revenue related transactions recorded based on the underlying contracts with the customers like sale deed construction contract and the handing over documents.
We further reviewed the analysis made by the management relating to cost overrun and its impact on the project. Assessed the adequacy of disclosure made in the financial statements.
Assessment of recoverability and disclosure of deferred tax assets. Deferred tax assets are considered as a key audit matter considering the involvement of estimation and judgement in relation to the recognition and measurement on a continuous basis. Our review included the following details
a) Reviewing the reasonableness of the management's assumptions and forecasts of future taxable profits so that unused tax losses and unused tax credits can be adjusted
b) Reviewed the computation in relation to the deferred tax assets.
c) Assessed the adequacy of disclosure made in the financial statement as per note 2.08
Valuation of Inventory Valuation of Inventories includes work in progress and completed premises held for sale. The value of the inventory for the ongoing and completed projects amounting to Rs. 26514.66 lakhs and the same has been valued lower of cost and net realizable value.
The inventories are carried at the lower of the cost and net realizable value (‘NRV'). The determination of the NRV involves estimates based on prevailing market conditions current prices and expected date of commencement and completion of the project the estimated future selling price cost to complete projects. Considering significance of the amount of carrying value of inventories in the financial statements and the involvement of significant estimation and judgement in such assessment of NRV the same has been considered as key audit matter Our audit procedures / testing included among others:
a) Review of the management's process and methodology of using key assumptions for determination of NRV of the inventories;
b) Compared the NRV of the inventories to it carrying value in books on sample basis.
Claims litigation and contingencies The Company is having various ongoing legal disputes in the nature of tax matters and other legal matters. We have adopted the following procedure in relation to the review of the legal matters.
Management estimates the possible outflow of economic resources based on the legal status of the proceedings. a) Ongoing legal status and development in the proceedings in comparison to the comparative year where ever applicable.
Considering that the above matter involves judgement and estimation it is considered as key audit matter. b) Reading the minutes of the board meeting in relation to such matters including the details of proceedings before relevant authority.
c) Provision made if any and its basis of determination.
d) Sufficiency of the disclosure made by the management in the notes no. 4.02 in relation to contingent matter.

Information other than the Standalone Financial Statements and ourReport thereon

The Company's management and Board of Directors is responsible forthe preparation of the other information. The other information comprises the informationincluded in the Annual Report but does not include the standalone financial statementsand our auditor's report thereon.

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

In connection with our audit of the standalone financial statementsour responsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the standalone financial statements orour knowledge obtained in the audit or otherwise appears to be materially misstated. Ifbased on the work we have performed we conclude that there is a material misstatement ofthis other information we are required to report that fact. We have nothing to report inthis regard.

Responsibilities of Management and those charged with governance forthe Standalone Financial Statements

The Company's Board of Directors is responsible for the mattersstated in section 134(5) of the Act with respect to the preparation of these standalonefinancial statements that give a true and fair view of the state of affairs (financialposition) profit or loss (financial performance including Other Comprehensive Income)changes in equity and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Ind AS specified under section 133of the Act. This responsibility also includes maintenance of adequate accounting recordsin accordance 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 accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statement 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 isresponsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibilities for the Audit of the StandaloneFinancial Statements

Our objectives are to obtain reasonable assurance about whether thestandalone financial statements as a whole are free from material misstatement whetherdue to fraud or error and to issue an auditor's report that includes our opinion.Reasonable assurance is a high level of assurance but is not a guarantee that an auditconducted in accordance with Standards on Auditing will always detect a materialmisstatement when it exists. Misstatements can arise from fraud or error and areconsidered material if individually or in the aggregate they could reasonably beexpected to influence the economic decisions of users taken on the basis of thesefinancial statements. As part of an audit in accordance with Standards on Auditing weexercise professional judgment and maintain professional skepticism throughout the audit.We also:

a) Identify and assess the risks of material misstatement of the 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.

b) Obtain an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Under section 143(3)(i)of the Act we are also responsible for explaining our opinion on whether the Company hasadequate internal financial controls system with respect to financial statements in placeand the operating effectiveness of such controls.

c) Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

d) Conclude on the appropriateness of management's use of the going concernbasis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause theCompany to cease to continue as a going concern.

e) 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 the misstatement in the standalonefinancial statements that individually or in aggregate makes it probable that theeconomic decisions of a reasonably knowledgeable user of the standalone financialstatements may be influenced. We consider quantitative materiality and qualitative factorsin; (i) planning the scope of our audit work and evaluating the results of our work; and(ii) to evaluate the effects of any identified misstatements in the standalone financialstatements.

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the standalonefinancial statements of the current period and are therefore the key audit matters. Wedescribe these matters in our auditor's report unless law or regulation precludespublic disclosure about the matter or when in extremely rare circumstances we determinethat a matter should not be communicated in our report because the adverse consequences ofdoing so would reasonably be expected to outweigh the public interest benefits of suchcommunication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of section 143(11) of theAct we give in the "Annexure A" a statement on the matters specified inparagraphs 3 and 4 of the Order.

2. Further to our comments in Annexure A as required by Section 143(3) of the Actwe report that:

a) We have sought and obtained all the information and explanations which to thebest of 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 OtherComprehensive Income) the Statement of Changes in Equity and Statement of Cash Flowsdealt with by this report are in agreement with the books of account;

d) In our opinion the aforesaid standalone financial statements comply with theInd AS specified under Section 133 of the Act read with relevant rules issued thereunderand relevant provisions of the Act;

e) On the basis of the written representations received from the directors andtaken on record by the Board of Directors none of the directors is disqualified as onMarch 31 2021 from being appointed as a director in terms of Section 164 (2) of the Act;

f) With respect to adequacy of internal financial controls with reference tofinancial statements of the Company and operating effectiveness of such controls refer toour separate report in "Annexure B". Our report expresses an unmodified opinionon the adequacy and operating effectiveness of the Company's internal financialcontrols with reference to financial statements;

g) With respect to 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 explanation as provided to us themanagerial remuneration paid by the Company to its directors during the year is inaccordance with the 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 its financialposition in the standalone financial statements – Refer Note 4.02 to the standalonefinancial statements.

ii. The Company has made adequate provision as required under the applicable law oraccounting stadards for material forseeable losses if any on the long term contractsincluding derivative contracts.

iii. There has been no delay in transferring amounts required to be transferredto the Investor Education and Protection Fund by the Company during the year ended March31 2021.

For Nayan Parikh & Co.
Chartered Accountants
Firm Registration No. 107023W
K.Y.Narayana
Partner
Place: Mumbai Membership No. 060639
Dated: June 29 2021 UDIN: 21060639AAAAIV5932

ANNEXURE ‘A' TO THE AUDITOR'S REPORT

Referred to in paragraph 1 under "Report on Other Legal andRegulatory Requirements" of our report of even date to the members of the Company onStandalone Financial Statements for the year ended March 31 2021.

i. a) The Company has maintained proper records showing full particulars includingquantitative details and situation of property plant and equipment and investmentproperty.

b) As per the plan and programme of the management property plant &equipments and the investment properties have been physically verified. The programme ofphysical verification of property plant & equipments and investment properties in ouropinion is considered reasonable having regard to the size of the Company and nature ofits assets. No material discrepancies were noticed on such verification.

c) The title deeds of all the Immovable Properties classified under the headproperty plant and equipments and investment properties are held in the name of theCompany. However in one case with respect to a commercial property which is classifiedunder investment property having gross block value Rs. 3626.02 lakhs & net block valueRs. 3149.43 lakhs as on March 31 2021 the dispute with the landowner relating to theland on which the property is situated the division bench has passed an order contrary tothe order of the single bench of the Hon'ble High Court of Madras who had earlier setaside the invalidation of the sale deed. Subsequently the Company has filed a specialleave petition before the Hon'ble Supreme Court of India and the matter is pending.We refer to the note no. 4.02 (a) regarding this matter.

Further in another matter the Company has purchased certain portion land under anagreement for which entire payment is being done part of which is classified as propertyplant and equipment having a gross block value and net block value of Rs. 92.07 lakhs andanother portion as investment property having a gross block value and net block value ofRs. 13.41 lakhs. As per the information and explanation provided by the management thoughthe land is yet to be registered the Company derives the title under such agreement.

ii. According to the information and explanation provided to us the physicalverification of construction work in progress is carried out by the management by sitevisit in frequent intervals and certification of completion of work by technical personsare considered as reasonable. Other inventories have been physically verified during theyear by the management. In our opinion the frequency of verification is reasonable andadequate in relation to the size of the Company and to nature of its business. We havebeen informed that no material discrepancies were noticed on verification.

iii. The Company has granted unsecured loans to one of the firm covered in theregister maintained under Section 189 of the Act.

a) In our opinion and according to the information and explanation provided to usthe terms and conditions on which the loan has been granted are not prima facieprejudicial to the interest of the Company;

b) In the case of the firm as per the information and explanation given to us norepayment schedule has been specified and accordingly the regularity in repayment ofprincipal and interest amount wherever applicable does not arise.

c) As stated in sub clause (b) as no repayment schedule has been specified thequestion of total amount over due for more than 90 days and reasonable step taken forrecovery in this regard does not arise

iv. In our opinion and according to the information and explanation given to us inrespect to loans investments guarantees and securities provision of section 185 and 186of the Companies Act 2013 has been complied with.

v. In our opinion and according to the information and explanation 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 theprovisions of clause 3(v) of the Order are not applicable. We have been informed that noorder has been passed by Company Law Board or National Company Law Tribunal or ReserveBank of India or any Court or any other Tribunal.

vi. We have broadly reviewed the books of account maintained by theCompany relating to construction and development activity pursuant to the Companies (CostRecord and Audit) Rules 2014 made by the Central Government for the maintenance of costrecords under sub-section (1) of Section 148 of the Act and are of the opinion that primafacie the prescribed accounts and records have been made and maintained. However we havenot made a detailed examination of the cost records with a view to determine whether theyare accurate or complete. vii. a) The Company is regular in depositing undisputedstatutory dues including provident fund employees' state insurance income-taxsales-tax goods and services tax service tax duty of customs cess and other materialstatutory dues as applicable with the appropriate authorities. Further no undisputedamounts payable in respect thereof were outstanding at the year-end for a period of morethan six months from the date they became payable.

b) There are no dues in respect of sales tax duty of customs dutyof excise and value added tax which have not been deposited on account of any disputeexcept in the case of tax details as given below:

S. No. Name of the Statue Nature of Dues Period to which the amount relates Forum where dispute is pending Amount (Rs.)
1. Finance Act 1994 Service Tax October 2007 to August 2009 Customs Excise and Service Tax Appellate Tribunal 156.10 lakhs (Penalty)
2 Finance Act 1994 Service Tax February 2009 to June 2010 The Honourable Supreme Court of India. 182.01 lakhs
3. Income tax Act 1961 Income Tax Assessment year 2017-18 Commissioner of Income Tax Appeals 407.84 lakhs
4. TNVAT Act 2006 Value Added Tax 2011-12 to 2015-16 Hon'ble High Court of Madras 65.82 lakhs
5. Central Sales Tax Act 1956 Central Sales Tax 2012-13 to 2014-15 Hon'ble High Court of Madras 84.24 lakhs

viii. According to the information and explanation given to us andon the basis of our examination of the books of accounts the Company has generally paidthe dues to banks and financial institutions as per the terms and conditions stated in theloan agreement except in below mentioned cases.

Name of the Bank / Financial Institution Principal / Interest Amount of default as on the Balance Sheet date in Rs. Period of Delay Remarks if any
LIC Housing Finance Limited Principal 2.15 lakhs 58 days
LIC Housing Finance Limited Principal 100 lakhs 30 days

The Company has not received any loan from Government and also has notissued any debenture. Accordingly reporting relating to default in repayment of dues toGovernment and debenture holders does not arise. ix. In our opinion and accordingto the information and explanations given to us the Company has not raised any money byway of initial public offer or further public offer (including debt instruments). The termloans obtained have been applied for the purposes for which the loans were obtained. x.During the course of our examination of the books and records of the Company carriedout in accordance with the generally accepted auditing practices in India and accordingto the information and explanation given to us no fraud by the Company or any fraud onthe Company by its officers or employees has been noticed or reported during the year norhave we been informed of such case by the management.

xi. In our opinion and according to the information and explanations given to usand on the basis of our examination of the books of account the Company has paid /provided managerial remuneration in accordance with the requisite approvals mandated bythe provision of section 197 read with schedule V of the Companies Act 2013.

xii. The Company is not a Nidhi Company. Therefore the provisions of paragraph3(xii) of the Order are not applicable to the Company.

xiii. According to the information and explanation provided to us and in ouropinion the related party transactions are entered in to by the Company are in compliancewith Section 177 and 188 of Act where applicable and the details of such transactionshave been disclosed in the standalone financial statements as required by the applicableaccounting standard.

xiv. According to the information and explanations given to us and on the basis ofour examination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Accordingly the paragraph 3(xiv) of the Order is not applicable to the Company.

xv. According to the information and explanations given to us and based on theexamination of the books of accounts the Company has not entered into any non-cashtransactions with the directors or persons connected with them. Accordingly the paragraph3(xv) of the Order is not applicable to the Company.

xvi. As per the information and explanation provided to us the Company is notrequired to register under Section 45-IA of the Reserve Bank of India Act 1934.

For Nayan Parikh & Co.
Chartered Accountants
Firm Registration No. 107023W
K.Y.Narayana
Partner
Place: Mumbai Membership No. 060639
Dated: June 29 2021 UDIN: 21060639AAAAIV5932

ANNEXURE ‘B' TO THE INDEPENDENT AUDITOR'S REPORT

Referred to paragraph 2(f) under the heading ‘Report on otherLegal and Regulatory Requirements' of our report on even date to the members of theCompany on the Standalone Financial Statements for the year ended March 31 2021

Report on the Internal Financial Controls under Clause (i) ofsub-section 3 of Section 143 of the Companies Act 2013 (the "Act")

Opinion

We have audited the internal financial controls with reference toStandalone Financial Statements of Lancor Holdings Limited (the"Company") as of March 31 2021 in conjunction with our audit of the standalonefinancial statements of the Company for the year ended on that date.

In our opinion the Company has in all material respects an adequateinternal financial controls with reference to financial statements and such internalfinancial controls with reference to standalone financial statements were operatingeffectively as at March 31 2021 based on the internal control with reference tostandalone financial statements criteria established by the Company considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial Controls over Financial Reporting (‘Guidance Note') issued by theInstitute of Chartered Accountants of India (‘ICAI').

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls based on the internal control with reference toStandalone Financial Statements criteria established by the Company considering theessential components of internal control stated in the Guidance Note. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to Company's policies the safeguardingof its 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.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company'sinternal financial controls with reference to standalone financial statements based on ouraudit. We conducted our audit in accordance with the Guidance Note and the Standards onauditing issued by ICAI and deemed to be prescribed under section 143(10) of theCompanies Act 2013 to the extent applicable to an audit of internal financial control.Those standards and the guidance note require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls with reference to financial statements were established and maintainedand if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system with reference to financialstatements and their operating effectiveness. Our audit of internal financial controlswith reference to standalone financial statements included obtaining an understanding ofinternal financial controls with reference to standalone financial statements assessingthe risk that a material weakness exists and testing and evaluating the design andoperating 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 standalone financial statements whether due to fraud orerror.

We believe that the audit evidence we obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internalfinancial controls system with reference to standalone financial statements.

Meaning of Internal Financial Controls with reference to FinancialStatements.

A Company's internal financial controls with reference tofinancial statements is a process designed to provide reasonable assurance regarding thereliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with generally accepted accounting principles. ACompany's internal financial controls with reference to financial statements includesthose policies and procedures that (1) pertain to the maintenance of records that inreasonable detail accurately and fairly reflect the transactions and dispositions of theassets of the Company; (2) provide reasonable assurance that transactions are recorded asnecessary to permit preparation of standalone financial statements in accordance withgenerally accepted accounting principles and that receipts and expenditures of theCompany are being made only in accordance with authorisations of management and directorsof the Company; and (3) provide reasonable assurance regarding prevention or timelydetection of unauthorised acquisition use or disposition of the Company's assetsthat could have a material effect on the standalone financial statements.

Inherent Limitations of Internal Financial Controls with reference toFinancial Statements

Because of the inherent limitations of internal financial controls withreference to standalone financial statements including the possibility of collusion orimproper management override of controls material misstatements due to error or fraud mayoccur and not be detected. Also projections of any evaluation of the internal financialcontrol with reference to the standalone financial statements to future periods aresubject to the risk that internal financial controls with reference to financialstatements may become inadequate because of changes in conditions or that the degree ofcompliance with the policies or procedures may deteriorate.

For Nayan Parikh & Co.
Chartered Accountants
Firm Registration No. 107023W
K.Y.Narayana
Partner
Place: Mumbai Membership No. 060639
Dated: June 29 2021 UDIN: 21060639AAAAIV5932

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