THE MEMBERS OF
OPTIEMUS INFRACOM LIMITED
Report on the Audit of the Standalone Financial Statements
We have audited the accompanying standalone financial statements of Optiemus InfracomLimited ("the Company") which comprise the Balance Sheet as at March 31 2021the Statement of Profit and Loss (including Other Comprehensive Income) the Statement ofChanges in Equity and the Statement of Cash Flows for the year ended on that date and asummary of the significant accounting policies and other explanatory information(hereinafter referred to as "the standalone financial statements").
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the 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 March 31 2021 the profit and totalcomprehensive income changes in equity and its cash flows for the year ended on thatdate.
Basis for Opinion
We conducted our audit of the standalone financial statements in accordance with theStandards on Auditing (SAs) 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 Financial Statements section of ourreport. We are independent of the Company in accordance with the Code of Ethics issued bythe Institute of Chartered Accountants of India (ICAI) together with the independencerequirements that are relevant to our audit of the standalone financial statements underthe provisions 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 standalone financial statements.
Key Audit Matters
Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the standalone financial statements for the financial yearended March 312021. These matters were addressed in the context of our audit of thestandalone financial statements as a whole and in forming our opinion thereon and we donot provide a separate opinion on these matters. For each matter below our description ofhow our audit addressed the matter is provided in that context.
We have determined the matters described below to be the key audit matters to becommunicated in our report. We have fulfilled the responsibilities described in theAuditor's responsibilities described in the Auditor's responsibilities for the audit ofthe standalone financial statements section of our report including in relation to thematter below. Accordingly our audit included the performance of procedures designed torespond to our assessment of the risk of material misstatement of the standalone financialstatements. The result of the audit procedure performed by us including those proceduresperformed to address the matter below provide the basis of our opinion on theaccompanying standalone financial statements.
|S.No. Key Audit Matter ||How our audit addressed the key audit matters: |
|1. Assessment of Carrying Value of Investment in Subsidiaries and Associates:- (Refer to Note 2.2.8 and 5(a) in the standalone financial statements) || To assess the key assumptions of valuation used in particular those relating to discount rates cash flow forecasts and terminal growth rates applied: |
|The carrying value of the investment in subsidiaries and associates are Rs.1302 lakhs and Rs.5145 lakhs respectively as at March 31 2021 which represents approximately 14.86% of the total assets of the Company. These investments are carried at cost less accumulated impairment losses if any. The Company reviews the carrying values of these investments at every balance sheet date and performs impairment assessment in accordance with Ind AS 36 Impairment of Assets' where there is any indication of impairment to the carrying amount of investments. For the assessment of carrying value of investment in these subsidiaries and associates the Management estimates recoverable value based on discounted cash flows forecast requiring judgements in respect certain key inputs like determining an appropriate discount rate future cash flows and terminal growth rate. Changes in these assumptions could lead to an impairment to the carrying value of these investments. We have considered this to be a key audit matter as the investments balance is significant to the balance sheet and significant management judgement is involved in calculation of recoverable amount for the purpose of assessment of the appropriateness of the carrying amount. ||- Discussion with management's valuation experts to determine a range of acceptable discount rates and terminal growth rates with reference to valuations of similar companies and other relevant external data. Performed sensitivity analysis by using the terminal growth rates and discount rates as provided by the management's valuation experts. |
| ||- Tested the cash flow forecasts used and assessed whether those were consistent with our understanding of the business. |
| || We understood the management process for assessment of carrying values of investments and also evaluated the design and tested the operating effectiveness of the Company's internal controls surrounding such assessment. Compared the previous year cash flow forecasts made by the management to actual results to assess the historical accuracy of forecasting. Based on the above procedures performed we noted that the management's assessment of the carrying value of the investments in subsidiaries is reasonable. |
|2. Revenue recognition (Refer to Note 2.2.4 in the standalone financial statements) || |
|Revenue recognition is significant audit risk across all units within the Company. Risk exists that revenue is recognized without substantial transfer of control and is not in accordance with Ind AS-115 "Revenue from Contracts with Customers". ||Our audit consisted testing of the design and operating effectiveness of the internal controls and substantive testing as follows: |
| || We evaluated the design of internal controls relating to revenue recognition. |
| || We selected sample of Sales transactions and tested the operating effectiveness of the internal control relating to revenue recognition. We carried out a combination of procedures involving enquiry and observation reperformance and inspection. |
| || We have tested sample of Sale transactions to their respective customer contracts underlying invoices and related documents. |
| || We have performed cut-off procedures for sample of revenue transactions at year-end in order to conclude on whether they were recognized in accordance with Ind AS 115. |
|3. Carrying value of trade receivables and allowance of credit losses || We evaluated management's assumption and judgment involved in estimating recoverability. |
|The Company is required to regularly assess the recoverability of its trade receivables. The Company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss on trade receivables. The Company uses a provision matrix to determine impairment loss allowance. The provision matrix is based on its historically observed default rates over the expected life of trade receivables and is adjusted for forward looking estimates. || We evaluated management's continuous assessment of the assumptions used in the impairment assessment which includes the historical default rates and business environment in which the entity operates. |
|In calculating expected credit loss the Company has also considered credit reports and other related credit information for its customers to estimate the probability of default in future and has considered estimates of possible effect from the pandemic relating to COVID-19. || We assessed the disclosures made in the financial statements. |
|This is a key audit matter as significant judgement is involved to establish the provision matrix and calculating expected credit losses.Refer Notes 2.2.8 and 9 (b) to the financial Statements. || |
|4. Assessment of contingent liabilities provision for litigations || We obtained an understanding and evaluated processes and controls designed and implemented by the management for assessment of litigations; |
|As at March 31 2021 the Company has disclosed contingent liabilities (to the extent not provided for) of Rs.2276 lakhs in respect of certain tax litigations. || |
|The Company faces inquiries from tax authorities and regulatory authorities during tax assessment and legal proceedings during the normal course of business. There is a high level of management judgement required in estimating the probable outflow of economic resources and the level of provisioning and the disclosures required. || We obtained the list of taxation and regulatory litigation matters communications with the regulatory authorities inspecting the supporting evidence and critically assessing management's evaluation through discussions and inquiries made with the management on both the probability of outcome and the magnitude of potential outflow of economic resources; |
|The management's assessment is supported by legal opinions from independent tax consultants and legal experts obtained by the management. || Where relevant we read and relied upon the most recent legal opinion obtained by management from independent tax consultants and external legal experts to assess development in all pending cases against the Company; |
|We considered this to be a key audit matter as the outcome of the litigations/inquiries is uncertain including ensuring compliances with the various regulations and the positions taken by the management are based on the application of material judgement advice from tax consultants and legal experts and interpretation of law. The ultimate outcome of the litigations/inquries could be different from the conclusion reached by the management and may significantly impact the Company's financial position. || We read recent orders received from the tax and regulatory authorities and the Company's responses to such communications and assessed the current status of the litigations against the Company; |
|The Company's disclosures are included in Note 2.2.19 and Note 28 to the financial statements which outlines the accounting policy for contingent liabilities and details of pending direct and indirect tax litigation disclosed as contingent liabilities. || We obtained cases nature and confirmations from tax consultants where considered relevant; |
| || For tax matters we have assessed management's application and interpretation of tax legislation affecting the Company and to consider the quantification of exposures and settlements arising from the disputes with the tax authorities in the various tax jurisdictions. |
Emphasis of Matter
1. Regarding the balance confirmations of trade receivables and advances given tovendors customers' advances received & trade payables. During the course ofpreparation of standalone financial statements e-mails/letters have been sent to variousparties by the company with a request to confirm their balances to us out of which fewparties have confirmed their balances directly to us. In the absence of the confirmationof balances the possible adjustment if any will be accounted for as and when theaccount is settled/ reconciliation/ finality of the balances with those parties. Ouropinion is not modified in respect of the said matter.
Information Other than the Standalone Financial Statements and Auditor's Report Thereon
The Company's Board of Directors is responsible for the preparation of the otherinformation. The other information comprises the information included in the ManagementDiscussion and Analysis Board's Report including Annexures to Board's Report BusinessResponsibility Report Corporate Governance and Shareholder's Information but does notinclude the standalone financial statements and our auditor's report thereon.
Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon.
In connection with our audit of the standalone financial statements our responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the 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 materialmisstatement of this other information we are required to report that fact. We havenothing to report in this regard.
Management's Responsibility 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 totalcomprehensive income changes in equity and cash flows of the Company in accordance withthe Ind AS and other accounting principles generally accepted in India. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the standalone financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 responsible for overseeingthe Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalonefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these standalone financial statements.
As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:
i. Identify and assess the risks of material misstatement of the standalone financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.
ii. 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.
iii. Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by management.
iv. Conclude on the appropriateness of management's use of the going concern basis ofaccounting 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.
v. Evaluate the overall presentation structure and content of the standalone financialstatements including the disclosures and whether the standalone financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.
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 financial statements may be influenced. We considerquantitative materiality and qualitative factors in (i) planning the scope of our auditwork and in evaluating the results of our work; and (ii) to evaluate the effect of anyidentified misstatements in the 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.
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 Other ComprehensiveIncome Statement of Changes in Equity and the Statement of Cash Flow dealt with by thisReport are in agreement with the relevant books of account.
d) In our opinion the aforesaid standalone financial statements comply with the Ind ASspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014.
e) On the basis of the written representations received from the directors as on March31 2021 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2021 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 the remuneration paid by the Company to its directors during the year isin accordance 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 its standalone financial statements.
ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts.
iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.
2. As required by the Companies (Auditor's Report) Order 2016 ("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 Mukesh Raj & Co. |
| ||Chartered Accountants |
| ||Firm's Reg No. 016693N |
|Place: Noida ||Mukesh Goel |
|Date: 30.06.2021 ||Partner |
| ||M. No. 094837 |
| ||UDIN:21094837AAAAFY5383 |
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 Optiemus Infracom Limited of evendate)
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 OPTIEMUSINFRACOM LIMITED ("the Company") as of March 312021 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.
Management's Responsibility for Internal Financial Controls
The Board of Directors of the Company is responsible for establishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria established by the Company considering the essential components of internalcontrol stated in the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting issued by the Institute of Chartered Accountants of India. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to respective company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Companies Act 2013.
Our responsibility is to express an opinion on the internal financial controls overfinancial reporting of the Company based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the "Guidance Note") issued by the Institute of Chartered Accountantsof India and the Standards on Auditing prescribed under Section 143(10) of the CompaniesAct 2013 to the extent applicable to an audit of internal financial controls. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the internal financial controls system overfinancial reporting of the Company.
Meaning of Internal Financial Controls Over Financial Reporting
A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that
(1) Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;
(2) Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and
(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.
Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.
In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 312021 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.
| ||For Mukesh Raj & Co. |
| ||Chartered Accountants |
| ||Firm's Reg No. 016693N |
|Place: Noida ||Mukesh Goel |
|Date: 30.06.2021 ||Partner |
| ||M.No. 094837 |
| ||UDIN:21094837AAAAFY5383 |
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 Optiemus Infracom Limited of evendate)
i. In respect of the Company's fixed assets:
(a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.
(b) According to the information and explanations given to us the records examined byus and based on the examination of the conveyance deeds / registered sale deed provided tous we report that the title deeds comprising all the immovable properties of land andbuildings which are freehold are held in the name of the Company as at the balance sheetdate. In respect of immovable properties of land and building that have been taken onlease and disclosed as Investment properties in the standalone financial statements thelease agreements are in the name of the Company.
ii. As explained to us the inventories were physically verified during the year by theManagement at reasonable intervals and no material discrepancies were noticed on physicalverification.
iii. According to the information and explanations given to us the Company hasgranted unsecured loans to bodies corporate covered in the register maintained undersection 189 of the Companies Act 2013 however in our opinion:
(a) The terms and conditions of the grant of such loans are in our opinion primafacie not prejudicial to the company's interest.
(b) The schedule of repayment of principal and payment of interest has been stipulatedand repayments of such receipts of principal amounts and interest have been regular as perstipulation.
(c) There is no overdue amount remaining outstanding as at the year end.
iv. In our opinion and according to the information and explanations given to us theCompany has complied with the provision of section 185 and 186 of the Act in respect ofgrant of loans making investments providing guarantees and securities as applicable.
v. In our opinion and according to the information and explanations given to us theCompany did not receive any deposits covered under sections 73 to 76 of the Companies Actand the rules framed there under with regard to deposits accepted from the public duringthe year.
vi. We have broadly reviewed the accounts and records maintained by the companypursuant to the companies (cost records and audit) Rules read with companies (cost recordsand audit) amendment rules 2014 specified by central government under section 148 of theact and we are of the opinion that prima facie the prescribed records have beenmaintained.
vii. According to the information and explanations given to us in respect of statutorydues:
(a) The Company has generally been regular in depositing undisputed statutory duesincluding Provident Fund Employees' State Insurance Income Tax Goods and Service TaxCustoms Duty Cess and other material statutory dues applicable to it with the appropriateauthorities except there have been delay in this case.
(b) There were no undisputed amounts payable in respect of Provident Fund Employees'State Insurance Income Tax Goods and Service Tax Customs Duty Cess and other materialstatutory dues in arrears as at March 31 2021 for a period of more than six months fromthe date they became payable other than disclosed above.
(c) Details of dues of Income Tax Sales Tax Service Tax Excise Duty and Value AddedTax which have not been deposited as at March 312021 on account of dispute are givenbelow:
|Name of the statute ||Nature of the dues ||Period (A.Y.) ||Amount (In Lakhs) |
|Sales Tax/VAT ||Central Sales Tax ||2013-14 ||20 |
|Sales Tax/VAT ||Central Sales Tax ||2014-15 ||8 |
|Sales Tax/VAT ||Central Sales Tax ||2015-16 ||151 |
|Sales Tax/VAT ||Central Sales Tax ||2011-12 ||29 |
|Sales Tax/VAT ||Central Sales Tax ||2012-13 ||10 |
|Sales Tax/VAT ||Central Sales Tax ||2013-14 ||7 |
|Sales Tax/VAT ||Central Sales Tax ||2011-12 ||25 |
|Sales Tax/VAT ||Central Sales Tax ||2013-14 ||45 |
|Sales Tax/VAT ||Central Sales Tax ||2012-13 ||178 |
|Sales Tax/VAT ||Central Sales Tax ||2015-16 ||17 |
|Sales Tax/VAT ||Central Sales Tax ||2011-12 ||31 |
|Sales Tax/VAT ||Central Sales Tax ||2012-13 ||53 |
|Sales Tax/VAT ||Central Sales Tax ||2013-14 ||37 |
|Sales Tax/VAT ||Central Sales Tax ||2014-15 ||26 |
|Sales Tax/VAT ||Central Sales Tax ||2013-14 ||10 |
|Sales Tax/VAT ||Central Sales Tax ||2014-15 ||185 |
|Sales Tax/VAT ||Central Sales Tax ||2015-16 ||38 |
|Sales Tax/VAT ||Central Sales Tax ||2016-17 ||126 |
|Sales Tax/VAT ||Central Sales Tax ||2017-18 ||135 |
|Sales Tax/VAT ||Central Sales Tax ||2015-16 ||53 |
|Sales Tax/VAT ||Central Sales Tax ||2015-16 ||13 |
|Sales Tax/VAT ||Central Sales Tax ||2015-16 ||233 |
|Sales Tax/VAT ||Central Sales Tax ||2013-14 ||3 |
|Sales Tax/VAT ||Central Sales Tax ||2014-15 ||18 |
|Income Tax Act 1961 ||Income Tax ||2017-18 ||318 |
|Income Tax Act 1961 ||Income Tax ||2011-12 ||0 |
|Income Tax Act 1961 ||Income Tax ||2012-13 ||1 |
|Income Tax Act 1961 ||Income Tax ||2016-17 ||5 |
|TDS Demand ||Income Tax ||2008-11 ||3 |
|Service Tax ||Service Tax ||2014-18 ||497 |
viii. Based on our audit procedures performed for the purpose of reporting the true andfair view of the standalone Ind AS financial statements and according to the informationand explanations given to us by the management the Company has not defaulted in repaymentof dues to financial institutions or banks. The Company does not have any debentureholders.
ix. The Company has not raised moneys by way of initial public offer or further publicoffer (including debt instruments) or term loans and hence reporting under clause 3 (ix)of the Order is not applicable to the Company.
x. To the best of our knowledge and according to the information and explanations givento us no fraud by the Company or no material fraud on the Company by its officers oremployees has been noticed or reported during the year.
xi. In our opinion and according to the information and explanations given to us theCompany has paid/ provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the Act.
xii. The Company is not a Nidhi Company and hence reporting under clause 3 (xii) of theOrder is not applicable to the Company.
xiii. In our opinion and according to the information and explanations given to us theCompany is in compliance with Section 177 and 188 of the Companies Act 2013 whereapplicable for all transactions with the related parties and the details of related partytransactions have been disclosed in the standalone financial statements as required by theapplicable accounting standards.
xiv. During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly paid convertible debentures and hence reportingunder clause 3 (xiv) of the Order is not applicable to the Company.
xv. 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 to its directors and hence provisions of section 192 of theCompanies Act 2013 are not applicable to the Company.
xvi. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934. Accordingly the provisions of Clause 3(xvi) of the Order are notapplicable to the Company.
| ||For Mukesh Raj & Co. |
| ||Chartered Accountants |
| ||Firm's Reg No. 016693N |
|Place: Noida ||Mukesh Goel |
|Date: 30.06.2021 ||Partner |
| ||M. No. 094837 |
| ||UDIN:21094837AAAAFY5383 |