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Panjon Ltd.

BSE: 526345 Sector: Health care
NSE: N.A. ISIN Code: INE744D01019
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NSE 05:30 | 01 Jan Panjon Ltd
OPEN 16.05
PREVIOUS CLOSE 16.60
VOLUME 12262
52-Week high 33.40
52-Week low 12.65
P/E
Mkt Cap.(Rs cr) 26
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 16.05
CLOSE 16.60
VOLUME 12262
52-Week high 33.40
52-Week low 12.65
P/E
Mkt Cap.(Rs cr) 26
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Panjon Ltd. (PANJON) - Auditors Report

Company auditors report

To the Members of

PANJON LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of PANJON LIMITED(‘the Company') which comprise the standalone balance sheet as at 31 March 2022 thestandalone statement of profit and loss (including other comprehensive income) standalonestatement of changes in equity and standalone statement of cash flows for the year thenended and notes to the standalone financial statements including a summary of thesignificant accounting policies and other explanatory information (herein after referredto 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 true andfair view in conformity with the accounting principles generally accepted in India of thestate of affairs of the Company as at 31 March 2022 its losses other comprehensiveincome changes in equity and its cash flows for the year then ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statement in accordance with theStandards on Auditing (SAs) specified under section 143(10) of the Companies Act2013. Ourresponsibilities under those SAs are further described in the Auditor's Responsibilitiesfor the Audit of the Standalone Financial Statements section of our report. We areindependent of the Company in accordance with the Code of Ethics issued by the Instituteof Chartered Accountants of India together with the ethical requirements that are relevantto our audit of the standalone financial statements under the provisions of the Act andthe Rules there under and we have fulfilled our other ethical responsibilities inaccordance with these requirements and the Code of Ethics. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for our opinionon the standalone financial statements.

Key Audit Matters

Key audit matters (‘KAM') 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 standalonefinancial statements as a whole for the year ended March 312022 and in forming ouropinion thereon and we do not provide a separate opinion on these matters.

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 Board's Report including Annexuresto Board's Report Management Discussion and Analysis Corporate Governance andShareholder's Information but does not include the standalone financial statements andour 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 no materialmisstatement of this other information which we are required to report. We have nothingto 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 and presentation of these standalonefinancial statements that give a true and fair view of the financial position financialperformance (including other comprehensive income) changes in equity and cash flows ofthe Company in accordance with the accounting principles generally accepted in Indiaincluding the Ind AS specified under Section 1 33 of the Act read with the Companies(Indian Accounting Standards) Rules 201 5 as amended.

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 judgements and estimates that are reasonable andprudent; and the 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 and Board of Directors areresponsible 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 and the Board of Directors either intend toliquidate the Company or to cease operations or has no realistic alternative but to doso.

The Board of Directors is 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 skepticism 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 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 expressing our opinion on whether the Company hasin place adequate internal financial controls with reference to standalone financialstatements and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management and Board of Directorsin the standalone financial statements.

• Conclude on the appropriateness of management's and Board of Director's use ofthe going concern basis of accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or conditions that may cast significantdoubt on the Company's ability to continue as a going concern. If we conclude that amaterial uncertainty exists we are required to draw attention in our auditor's report tothe related disclosures in the standalone financial statements or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor's report. However future events or conditions maycause the Company to cease to continue 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.

• Obtained sufficient appropriate audit evidence regarding the financialinformation of the entity within the group to express an opinion on the consolidatedfinancial statements. We are responsible for the direction supervision and performance ofthe audit of the financial statements of such entities included in the consolidatedfinancial statements.

• Materiality in the magnitude of misstatements in the consolidated financialstatements that individually or in aggregate makes it probable that the economicdecisions of a reasonably knowledgeable user of the consolidated financial statements maybe influenced. We consider quantitative materiality and quantitative factors in (i)planning the scope of our audit work and in evaluating the result of our work; and (ii) toevaluate the effect of any identified misstatements in the consolidated financialstatements.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the standalone financial statementsof the current period and are therefore the key audit matters. We describe these mattersin our auditors' 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 the Companies (Auditors' Report) Order 2016 ("the Order")issued by the Central Government of India in terms of section 1 43(11) of the Act we givein the "Annexure A" a statement on the matters specified in paragraphs 3 and 4of the Order to the extent applicable.

2. As required by Section 1 43(3) of the Act we report that:

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

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

(c) The standalone balance sheet the standalone statement of profit and loss(including other comprehensive income) the standalone statement of changes in equity andthe standalone statement of cash flows dealt with by this Report are in agreement with thebooks of account.

(d) In our opinion the aforesaid standalone financial statements comply with the IndAS specified under section 1 33 of the Act.

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

(f) On With respect to the adequacy of the internal financial controls with referenceto standalone financial statements of the Company and the operating effectiveness of suchcontrols refer to our separate Report in "Annexure A".

(g) With respect to the matters to be included in the Auditor's Report in accordancewith requirement of Sec 1 97(1 6) of the Act as amended.

(h) With respect to the other matters to be included in the Auditors' Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 201 4 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations as at 31 March 2022 onits financial position in its standalone financial statements - Refer Note 21 to thestandalone financial statements.

ii. Provision has been made in the standalone financial statements as required underthe applicable law or Ind AS for material foreseeable losses on long-term contractsincluding derivative contracts.

Company has no such contracts to mention in the standalone financial statements.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

iv. With respect to the matter to be included in the Auditors' Report under section 197(1 6) of the Act:

(a) The Management has represented that to the best of its knowledge and belief nofunds have been advanced or loaned or invested (either from borrowed funds or sharepremium or any other sources or kind of funds) by the Company to or in any other person(s)or entity(ies) including foreign entities ("Intermediaries") with theunderstanding whether recorded in writing or otherwise that the Intermediary shallwhether directly or indirectly lend or invest in other persons or entities identified inany manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries")or provide any guarantee security or the like on behalf of the Ultimate Beneficiaries.

(b) The Management has represented that to the best of its knowledge and belief nofunds have been received by the Company from any person(s) or entity(ies) includingforeign entities (" Funding Parties") with the understanding whether recordedin writing or otherwise that the Company shall whether directly or indirectly lend orinvest in other persons or entities identified in any manner whatsoever by or on behalf ofthe Funding Party ("Ultimate Beneficiaries") or provide any guarantee securityor the like on behalf of the Ultimate Beneficiaries

(c) Based on such 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 in (a) and(b) above contain any material misstatement.

i. The no dividend was proposed in the previous year. The Board of Directors of theCompany has also not proposed any dividend for the year.

As required by the Companies (Auditor's Report) Order 2020 ("the Order")issued by the Central Government of India in terms of Section 143(11) of the Act weenclose in the "Annexure B" a statement on the matters specified in paragraphs3 and 4 of the Order to the extent applicable.

In our opinion and according to the information and explanations given to us theremuneration paid by the Company to its directors during the current year is in accordancewith the provisions of section 197 of the Act. The remuneration paid to any director isnot in excess of the limits laid down under section 1 97 of the Act. The Ministry ofCorporate Affairs has not prescribed other details under section 1 97(1 6) of the Actwhich are required to be commented upon by us.

Annexure (A) to the Independent Auditors report on the standalone financial statementof PANJON LTD.

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

Report on the internal financial controls with reference to the aforesaid standalonefinancial statements under Clause (i) of Sub-section 3 of Section 143 of the CompaniesAct 2013

We have audited the internal financial controls with reference to standalone financialstatements of PANJON LIMITED ("the Company") as of 31 March 2022 in conjunctionwith our audit of the standalone financial statements of the Company for the year thenended.

Management's Responsibility for Internal Financial Controls

The Company's management and the Board of Directors are responsible for establishingand maintaining internal financial controls based on the internal financial controls withreference to standalone financial statements criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note.These responsibilities include the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to the 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 201 3 (hereinafterreferred to as "the Act").

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols with reference to standalone financial statements based on our audit. Weconducted our audit in accordance with the Guidance Note and the Standards on Auditingprescribed under section 143(10) of the Act to the extent applicable to an audit ofinternal financial controls with reference to standalone financial statements. 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 with reference to standalone financial statements were established andmaintained and whether such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls with reference to standalone financial statements andtheir operating effectiveness. Our audit of internal financial controls with reference tostandalone financial statements included obtaining an understanding of such internalfinancial controls assessing the risk that a material weakness exists and testing andevaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor's judgement including theassessment of the risks of material misstatement of the standalone financial statementswhether 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 withreference to standalone financial statements.

Meaning of Internal Financial Controls with Reference to Standalone FinancialStatements

A company's internal financial controls with reference to standalone financialstatements is a process designed to provide reasonable assurance regarding the reliabilityof financial reporting and the preparation of standalone financial statements for externalpurposes in accordance with generally accepted accounting principles. A company's internalfinancial controls with reference to standalone financial statements include thosepolicies 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 standalone financial statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorizedacquisition use or disposition of the company's assets that could have a material effecton the standalone financial statements.

Inherent Limitations of Internal Financial Controls with Reference to StandaloneFinancial Statements

Because of the inherent limitations of internal financial controls with reference tostandalone financial statements including the possibility of collusion or impropermanagement override of controls material misstatements due to error or fraud may occurand not be detected. Also projections of any evaluation of the internal financialcontrols with reference to standalone financial statements to future periods are subjectto the risk that the internal financial controls with reference to standalone financialstatements may become inadequate because of changes in conditions or that the degree ofcompliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects adequate internal financialcontrols with reference to standalone financial statements and such internal financialcontrols were operating effectively as at 31 March 2022 based on the internal financialcontrols with reference to standalone financial statements criteria established by theCompany considering the essential components of internal control stated in the GuidanceNote on Audit of Internal Financial Controls Over Financial Reporting issued by theInstitute of Chartered Accountants of India (the "Guidance Note").

Annexure (B) of Independent Auditor Report

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

With reference to the Annexure A referred to in the Independent Auditors' Report to themembers of the Company on the standalone financial statements for the year ended 31 March2022 we report the following:

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

(b) The Company has a regular program of physical verification of its property plantand equipment and fixed assets by which all property plant and equipment and other fixedassets are verified in a phased manner every year. In our opinion this periodicity ofphysical verification is reasonable having regard to the size of the Company and thenature of its assets. Accordingly in phase manner all property plant and equipment andother fixed assets were physically verified during the year and no material discrepancieswere noticed on such verification.

(c) According to the information and explanations given to us the title deeds of allimmovable properties are held in the name of Company as on the balance sheet date. Inrespect of immovable properties taken on lease and disclosed as right-of-use- assets inthe standalone financial statements the lease agreements are in the name of the Company.

• According to the information and explanations given to us and on the basis ofthe books and records of the Company examined by us the Company has neither revalued anyof its Property Plant and Equipment (including Right-of-use Assets) nor revalued itsIntangible Assets during the year. Accordingly reporting under clause 3(i)(d) of theOrder is not applicable.

• According to the information and explanations given to us no proceedings havebeen initiated or are pending against the Company for holding any benami property underthe Benami Transactions (Prohibitions) Act 1988 (as amended in 2016) and Rules madethereunder. Accordingly reporting under clause 3(i)(e) of the Order is not applicable.

(ii) The inventory except goods-in-transit has been physically verified by themanagement at reasonable intervals during the year. In our opinion the frequency of suchverification is reasonable. In respect of inventory lying with third parties these havesubstantially been confirmed by them. The discrepancies noticed on verification betweenthe physical stock and the book records were not material.

(iii) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to companies firms limited liabilitypartnerships or other parties covered in the register maintained under section 1 89 of theAct. Accordingly the provisions of paragraph 3(iii) (a) (b) (c) of the Order are notapplicable to the Company.

(iv) The company has not granted any loan or provided any guarantees or security to theparties covered under section 1 85 of the act. The company has complied with the provisionof section 1 86 of the act in respect of investment made or loans or guarantee or securityprovided to the parties covered under section 1 86.

(v) The Company has not accepted any deposits from the public within the meaning of thedirectives issued by the Reserve Bank of India provisions of sections 73 to 76 of theAct any other relevant provisions of the Act and the relevant rules framed there under.

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148 of the Act for the purpose of this type of company.

(vii) (A) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted/ accrued in the books ofaccount in respect of undisputed statutory dues including Provident fund Employees' StateInsurance Income- tax Goods and Services tax Duty of Customs Cess and any otherstatutory dues have generally been regularly deposited during the year by the Company withthe appropriate authorities. As explained to us the Company did not have any dues onaccount of Duty of excise Sales tax/GST.

(B) According to the information and explanations given to us no undisputed amountspayable in respect of Provident fund Employees' State Insurance Income-tax Goods andServices tax duty of Customs Cess and any other material statutory dues were in arrearsas at 31 March 2022 for a period of more than six months from the date they becamepayable.

(C) According to the information and explanations given to us there are no dues ofIncome-tax or Sales tax or Service tax or Goods and Services tax or Duty of Customs orDuty of Excise or Value added tax which have not been deposited by the Company on accountof disputes except for the following:

Name of the statue Nature of dues Amount * Amount deposite d Net amount Period to which the amount Forum where dispute is pending
The central excise act 1 944 Excise duty 168000 143000 25000 F.Y. 200203 Superintendent (Central Excise)
VAT ACT VAT TAX DEMAND 53118 0 53118 F.Y. 201617 Commercial Tax Officer
The ESI Act 1948 ESI 666800 0 66680 0 F.Y. 201213 Office of ERY Recovery Officer
The Central Sales Tax Act 1956 CST 377929 0 37792 9 F.Y. 201617 Appellate Deputy Commissioner Commercial Tax
The Value Added Tax Act 1956 VAT 126035 12635 11340 0 F.Y. 201718 (Ist Quarter) Appellate Deputy Commissioner Commercial Tax
The Income Tax Act 1956 Income Tax 625000 0 62500 0 A.Y. 200405 Income Tax(Appeals)

(viii) According to the information and explanations given to us the Company did nothave any transaction relating to previously unrecorded income that have been surrenderedor disclosed as income during the year in the tax assessments under the Income-tax Act1961.

(ix) a. According to the information and explanations given to us and on the basis ofthe books and records of the Company examined by us the Company has not defaulted inrepayment of loans or other borrowings or in the payment of interest thereon to any lenderduring the year.

b. According to the information and explanations given to us and on the basis of ouraudit procedures we report that the Company has not been declared willful defaulter byany bank or financial institution or government or any government authority.

c. According to the information and explanations given to us and on the basis of thebooks and records of the Company examined by us no term loans have been obtained by theCompany during the year. Accordingly reporting under clause 3(ix)(c) of the Order is notapplicable.

d. According to the information and explanations given to us and on an overallexamination of the balance sheet of the Company we report that funds raised on short-termbasis have not been utilised for long- term purposes.

e. According to the information and explanations given to us and on an overallexamination of the financial statements of the Company we report that during the year theCompany has not taken any funds from an entity or person on account of or to meet theobligations of its subsidiaries or associate companies.

f. According to the information and explanations given to us and procedures performedby us the Company has not raised any loans during the year on the pledge of securitiesheld in its subsidiaries or associate companies.

X a.According to the information and explanations given to us and on the basis of thebooks and records of the Company examined by us the Company has not raised any money byway of initial public offer or further public offer (including debt instruments) duringthe year. Accordingly reporting under clause 3(x)(a) of the Order is not applicable.

b. According to the information and explanations given to us and on the basis of thebooks and records of the Company examined by us the Company has not made any preferentialallotment or private placement of shares or convertible debentures (fully partially oroptionally convertible) during the year. Accordingly reporting under clause 3(x)(b) ofthe Order is not applicable.

xi. a. On the basis of the books and records of the Company examined by us andaccording to the information and explanations given to us we report that no materialfraud by the Company or any fraud on the Company has been noticed or reported during theyear in the course of our audit.

b. To the best of our knowledge no report under Section 143 (12) of the Act has beenfiled by the auditors in Form ADT- 4 as prescribed under Rule 13 of Companies (Audit andAuditors) Rules 2014 with the Central Government during the year and upto the date ofthis report.

c. As represented to us by the management the Company has not received anywhistle-blower complaint during the year and upto the date of this report

xii. The Company is not a Nidhi company. Accordingly reporting under clause 3(xii) ofthe Order is not applicable to the Company.

xiii. According to the information and explanations given to us and on the basis ofbooks and records of the Company examined by us transactions with the related parties arein compliance with Sections 1 77 and 1 88 of the Act where applicable and the details ofsuch transactions have been disclosed in the standalone financial statements as requiredby the applicable accounting standards.

xiv. According to the information and explanations given to us in our opinion theCompany has internal audit system commensurate with the size and nature of its business.

xv. According to the information and explanations given to us and on the basis of thebooks and records of the Company examined by us the Company has not entered into anynon-cash transaction with its directors or persons connected to its directors.Accordingly reporting under clause 3(xv) of the Order is not applicable.

xvi. a. As per the information and explanations given to us and on the basis of thebooks and records of the Company examined by us the Company is not required to beregistered under Section 45-IA of the Reserve Bank of India Act 1934; the Company has notconducted any Non-banking Financial or

Housing Finance activities during the year; The Company is not a Core InvestmentCompany (CIC) as defined in the regulations made by the Reserve Bank of India.Accordingly reporting under clauses 3(xvi)(a) 3(xvi)(b) and 3(xvi)(c) of the Order arenot applicable to the Company.

b. According to the information and explanations provided by the management of theCompany the Company does not have any CIC as part of the Group. We have not howeverseparately evaluated the information so provided.

xvii. The Company has not incurred cash losses in the financial year covered by ouraudit and the immediately preceding financial year.

xviii. There has been no resignation by the statutory auditors of the Company duringthe year. Accordingly clause 3(xviii) of the Order is not applicable.

xix. According to the information and explanations given to us and on the basis offinancial ratios ageing and expected dates of realisation of financial assets and paymentof financial liabilities other information accompanying the financial statements and ourknowledge of the Board of Directors and Management plans and based on our examination ofthe evidence supporting the assumptions nothing has come to our attention which causesus to believe that any material uncertainty exists as on the date of the audit reportindicating that the Company is not capable of meeting its liabilities existing at the dateof balance sheet as and when they fall due within a period of one year from the balancesheet date. We however state that this is not an assurance as to the future viability ofthe Company. We further state that our reporting is based on the facts up to the date ofthe audit report and we neither give any guarantee nor any assurance that all liabilitiesfalling due within a period of one year from the balance sheet date will get dischargedby the Company as and when they fall due.

xx. According to the information and explanations given to us and on the basis of thebooks and records of the Company examined by us for Corporate Social Responsibilitythere is no unspent amount under sub-section (5) of Section 135 of the Act 2013 pursuantto any project. Accordingly reporting under clauses 3(xx)(a) and 3(xx)(b) of the Orderare not applicable.

for M/S Giriraj & Lohiya Chartered Accountants
Firm's Registration No: 006031C
Date 30.05.2022 (CA Natwar Lal Bhatia) Partner
Place : Jaipur Membership No: 076076
UDIN For This Document is 22076076AJXCFK2570

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