To the Members of RADAAN MEDIAWORKS INDIA LIMITED
Report on the Audit of the Standalone Financial Statements QualifiedOpinion
We have audited the standalone financial statements of RADAANMEDIAWORKS INDIA LIMITED ("the Company") which comprise the Balance Sheet as at31st March 2021 the Statement of Profit and Loss Statement of Cash Flows andthe Statement of Changes in Equity for the year then ended and notes to the financialstatements including a summary of significant accounting policies and other explanatoryinformation(hereinafter referred to as "the standalone financial statements").
In our opinion and to the best of our information and according to theexplanations given to us except for the effects of the matter described in the Basis forQualified Opinion section of our report the aforesaid standalone financial statementsgive the information required by the Companies Act 2013 ("the Act") in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31 2021 the Loss other comprehensive loss and changes in equity and its cash flows forthe year ended on that date.
Basis for Qualified Opinion
1. Disruption in Operations owing to COVID - 19
We draw attention to Note No.3 of the Standalone Financial Statementswhich discloses that the industry in which the Company operates is adversely affectedowing to the impact of Covid-19. It is also not clear as to when the operations willregularise.
2. Material Uncertainty relating to Going Concern
We draw attention to Note No. 20 of the Standalone FinancialStatements. The Company's net worth has fully eroded and its current liabilities haveexceeded its current assets. In the current scenario the Company is faced with liquiditycrunch and has undisputed statutory dues to the tune of Rs.156.91 lakhs that are yet to bepaid as at 31st March 2021. These events or conditions along with othermatters indicate that a material uncertainty exists that may cast significant doubt on theCompany's ability to continue as a going concern. However the Company is confidentof meeting its obligations in the normal course of its business and accordingly thefinancial statements of the Company have been prepared on a going concern basis.
We draw attention to Note No. 9 (i) of the Standalone FinancialStatements relating to Company's non-current investment in Celebrity Cricket LeaguePvt Ltd of Rs. 72.25 Lakhs as at 31/03/2021 the Company has not assessed fair value dueto covid-19 pandemic situation.
We conducted our audit in accordance with the Standards on Auditing(SAs) specified under section 143(10) of the Companies Act 2013. Our responsibilitiesunder those Standards are further described in the Auditor's Responsibilities for theAudit of the Standalone Financial Statements section of our report. We are independent ofthe Company in accordance with the Code of Ethics issued by the Institute of CharteredAccountants of India together with the ethical requirements that are relevant to our auditof the standalone financial statements under the provisions of the Companies Act 2013 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 ourqualified opinion.
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 standalone financial statements as a whole and in forming ouropinion thereon and we do not provide a separate opinion on these matters. We havedetermined the matters described below to be the key audit matters to be communicated inour report.
|a) Assessment of Provisions for taxation litigations and claims ||The following audit procedures were performed in this area among others to obtain sufficient appropriate audit evidence: |
|As At 31st March 2021 the Company has contingent liability to the tune of Rs.145867936. These were estimated using a significant degree of management judgment in interpreting the various relevant rules regulations and practices and in considering precedents in various forums. || Based on the procedures performed it is concluded that the management's assessment of the outcome of pending litigations and claims is appropriate. |
|Note 47 of the Notes to Accounts to the Financials || Letters have been obtained from the Company regarding the likely outcome and magnitude of and exposure to the relevant litigation based on the previous orders passed by appropriate authorities in similar matters. |
| || Previous judgments made by relevant tax Authorities and advice given by Company's advisors on these matters were reviewed. |
|b) Work In Progress Valuation || Audit areas include the following but not restricted to: |
|The closing balance of Work In Progress stands at Rs.1774678/- This was identified as a Key Audit Matter as it is a significant portion of the Financial Statements. || Evaluating the Design of Internal Controls relating to recording of costs incurred and estimation of further costs that are required for completion of the episodes |
| || Understanding the context of the Work in Progress in terms of Number of episodes that have been shot and yet to be aired. These numbers were justified by the Internal Production team. |
| || Selected episodes to be aired on a sample basis and tested the same for evaluating the costs involved therein. |
| || Obtaining a closing statement of episodes in hand as at 31st March 2021. Reviewed the same for any old unaired episodes that require impairment. |
| || Understanding and validating the inclusion of costs like administration and specialized project costs in the valuation. |
| || Representations from the Management include absorption of Rs.182 lakhs against unutilised content already produced due to discontinuance of the program and replacement of artiste technicians and creative changes in the running program on account of Covid. Further on account of continuing pandemic situation the undetermined fact of Covid impact on the content under production. |
|c) Investments in Subsidiary ||The following audit procedures were performed in this area: |
|The Company has an investment in an Overseas Subsidiary named Radaan Media Ventures Pte. Ltd' in Singapore amounting to Rs.935000 or SGD 20000. The subsidiary has not been in full fledged commercial operation since financial year 2014 -15. The carrying value of this investment was questioned by Audit. Further Loans were given to the subsidiary carrying an interest rate of 10% which is overdue || Calling for the Financials Statements of 31st March 2021. The same were audited by the Auditor of the respective Country. |
| || Audit questioned the existence and valuation of the investment in view of no operations in the subsidiary for the past five years. |
| || Annual Performance reports and filings in relation to the foreign subsidiary were verified. |
| || Furthermore the appropriateness of the disclosures made in note 36 to the financial statements was assessed. |
|d) Other Investments ||The Audit questioned the carrying value of these investments. |
|The Company has investments in Celebrity Cricket League Private Limited to the tune of Rs.7225231/- (750000 equity shares of Rs.10/- each). || Based on the business plan provided it is concluded that the management's estimation of carrying value of investment is appropriate. |
| || Furthermore the appropriateness of the disclosures made in note 37 to the financial statements was assessed |
|e) Non-payment of Statutory Dues Payment Audit observed that there were non- payments of statutory dues of Rs.15690642/- || Audit Procedure checked the undisputed statutory payments dues remain unpaid. |
| || Management responded working capital as cause for non-payment and affirmed the compliance once the present situation improves. |
|f) Delay in Unsecured Loan Repayments || Audit Procedure checked the revised repayment terms with party negotiated. |
|g) Revenue Recognition (IND AS 115) || Audit procedure involved review of the Company's IND AS 115 implementation process and key judgments made by management evaluation of customer contracts in light of IND AS 115 on sample basis and comparison of the same with management's evaluation and assessment of design and operating effectiveness of internal controls relating to revenue recognition. |
|Recognition of revenue is complex due to certain specific nature of customer contracts. The application of the standard on recognition of revenue involves significant judgment and estimates made by the management which includes; || Based on the procedures performed it is concluded that management's judgments with respect to recognition and measurement of revenue in light of IND AS 115 is appropriate. |
| Identification of performance obligations contained in contracts. || Furthermore the appropriateness of the disclosures made in Note 3 (f) to the financial statements was assessed. |
| Determination of the most appropriate method for recognition of revenue relating to the identified performance obligations. || |
| Assessment of transaction price and Allocation of the assessed price to the individual performance obligations || |
|h) Adoption of IND AS 116 - Leases ||Our audit procedures on adoption of Ind AS 116 include: |
|As described in Note 3 (c) (4) to the financial statements the Company has adopted Ind AS 116 - Leases (Ind AS 116). The application and transition to this accounting standard was focus in our audit. || Assessed and tested new processes and controls in respect of the lease accounting standard (Ind AS 116). |
|Ind AS 116 introduces a new lease accounting model wherein lessees are required to recognize a right-of-use (ROU) asset and a lease liability arising from a lease on the balance sheet. The lease liabilities are initially measured by discounting future lease payments during the lease term as per the contract/ arrangement. Adoption of the standard involves significant judgements and estimates including determination of the discount rates and the lease term. Additionally the standard mandates detailed disclosures in respect of transition. Refer Note 38 of financial statements. || Assessed the Company's evaluation on the identification of leases based on the contractual agreements and our knowledge of the business; |
| || Evaluated the reasonableness of the discount rates applied in determining the lease liabilities. |
| ||On a statistical sample we performed the following procedures: |
| || Assessed the key terms and conditions of each lease with the underlying lease contracts; and |
| || Evaluated computation of lease liabilities and challenged the key estimates such as discount rates and the lease term. |
| || Assessed and tested the presentation and disclosures relating to Ind AS 116 including disclosures. |
Information Other than the Standalone Financial Statements andAuditors' Report Thereon
The Company's management and Board of Directors are responsiblefor the other information. The other information comprises the information included in theCompany's Annual Report but does not include the standalone financial statements andour 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.
If based on the work we have performed we conclude that there is amaterial misstatement of this other information we are required to report that fact. Wehave nothing to report in this regard.
Management's Responsibility for the Standalone FinancialStatements
The Company's Board of Directors is responsible for the mattersstated in section 134(5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these standalone financial statements that give a true and fair view ofthe financial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under section 133 of the Act read with the rule 3 of the Companies(Indian Accounting Standards) Rules 2015 and Companies (Indian Accounting Standards)Amendment Rules 2016. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate implementation and maintenance of accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation 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 financialstatement 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 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 is 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 SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material ifindividually or in the aggregate they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these standalone financial statements.
As part of an audit in accordance with SAs we exercise professionaljudgment and maintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of thestandalone financial statements whether due to fraud or error design and perform auditprocedures responsive to those risks and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraud is higher than for one resulting from error as fraudmay involve collusion forgery intentional omissions misrepresentations or the overrideof internal control.
Obtain an understanding of internal control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. Undersection 143(3)(i) of the Companies Act 2013 we are also responsible for expressing ouropinion on whether the Company has adequate internal financial controls system in placeand the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of thegoing 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'sreport to the related disclosures in the standalone financial statements or if suchdisclosures are inadequate to modify our opinion. Our conclusions are based on the auditevidence obtained up to the date of our auditor's report. However future events orconditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation structure and content of thestandalone financial statements including the disclosures and whether the standalonefinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.
Materiality is the magnitude of misstatements 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 in evaluating the results of our work; and(ii) to evaluate the effect 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
As required by the Companies (Auditor's Report) Order 2016("the Order") issued by the Central Government of India in terms of sub-section(11) of section 143 of the Companies Act 2013 we give in the "Annexure A"statement on the matters specified in paragraphs 3 and 4 of the Order to the extentapplicable.
As required by Section 143(3) of the Act we report that:
(a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.
(b) In our opinion proper books of account as required by law havebeen kept by the Company so far as it appears from our examination of those books
(c) The Balance Sheet the Statement of Profit and Loss and the CashFlow Statement and statement of changes in the equity dealt with by this Report are inagreement with the books of account
(d) In our opinion the aforesaid standalone financial statementscomply with the Accounting Standards specified under Section 133 of the Act
(e) On the basis of the written representations received from thedirectors as on 31 st March 2021 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2021 from being appointed as a director interms of Section 164 (2) of the Act.
(f) With respect to the adequacy of the internal financial controlsover financial reporting of the Company and the operating effectiveness of such controlsrefer to our separate Report in "Annexure B"
(g) With respect to the matter to be included in the Auditors'Report under section 197(16) of the Act as amended: In our opinion and to the best of ourinformation and according to the explanations given to us the remuneration paid by theCompany to its directors during the year is in accordance with the provisions of section197 of the Act.
(h) With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us:
i. The Company has disclosed the impact of pending litigations on itsfinancial position in its standalone financial statements - Refer Note 47 to thestandalone financial statements
ii. The Company did not have any long term contracts includingderivative contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred tothe Investor Education and Protection Fund by the Company.
Annexure A to the Independent Auditor's Report
Referred to in Paragraph 1 of Report on Other Legal and RegulatoryRequirements of our Report of even date
a) The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.
b) As explained to us all the fixed assets have been physicallyverified by the management in a phased periodical manner which in our opinion isreasonable having regard to the size of the Company and nature of its assets. Accordingto the information and explanations given to us no material discrepancies were noticed onsuch physical verification.
c) According to the information and explanation given to us and on thebasis of our examination of the records of the Company the title deeds of immovableproperties of the Company are held in the name of the Company.
ii. Physical verification of inventory has been conducted at reasonableintervals by the management and no material discrepancies were noticed on suchverification.
iii. In our opinion and according to the information and explanationsgiven to us the Company has not granted any loans secured or unsecured to companiesfirms or other parties covered in the register maintained under section 189 of theCompanies Act. (Based on the above para matters referred in clause iii(a) iii(b) andiii(c) of paragraph 3 of Companies (Auditors Report) Order 2016 are not applicable).
iv. In our opinion and according to the information and explanationsgiven to us the Company has complied with the provisions of Section 185 and 186 of theCompanies Act 2013 in respect of loans investments guarantees and security.
v. In our opinion and according to the information and explanationsgiven to us the Company has not accepted any deposits during the year. Accordinglyreporting under this clause does not arise.
vi. The Central Government has not prescribed the maintenance of costrecords under section 148 (1) of the Companies Act 2013. Accordingly clause vi ofparagraph 3 of Companies (Auditors Report) Order 2016 is not applicable.
a) According to the records of the Company and information andexplanations given to us the -undisputed statutory dues including provident fundemployees' state insurance income-tax sales-tax wealth tax service tax duty ofcustoms duty of excise value added tax cess Goods and Service Tax and other statutorydues with the appropriate authorities which remain unpaid as at 31/03/2021 wasRs.15690642 out of which TDS outstanding for more than six months was Rs.6641341
b) As at 31st March 2021 according to the records of the Company thefollowing are the particulars of the disputed dues on account of GST income tax customsduty wealth tax service tax which have not been deposited on account of dispute:
|S. Period No ||Nature of Dues ||Not Paid (Amt in Rs.) ||Forum where pending |
|1 Oct 2010-Sep 2012 ||Service Tax ||36084169 ||CESTAT Chennai |
|2 Oct 2012-Sep 2013 ||Service Tax ||15882476 ||CESTAT Chennai |
|3 Oct 2013-Sep 2014 ||Service Tax ||15945636 ||CESTAT Chennai |
|4 Oct 2014-Dec2015 ||Service Tax ||21415584 ||CESTAT Chennai |
|5 Apr 2001-Mar 2006 ||Sales Tax ||22860665 ||Before Appellate Deputy Commissioner (CT) the same has been remanded by the ADC and sent back to assistant commissioner. The hearing has been completed and order is awaited. |
|6 A.Y.2015-16 (F.Y. 2014-15) ||Income Tax ||13468486 ||CIT (A) Chennai |
|7 A.Y.2016-17 (F.Y. 2015-16) ||Income Tax ||12875451 ||CIT (A) Chennai |
|8 A.Y.2017-18 (F.Y. 2016-17) ||Income Tax ||7335469 ||CIT (A) Chennai |
viii. Based on our audit procedures and according to the informationand explanations given to us by the management we are of the opinion that the Company hasnot defaulted in repayment of loans or borrowings to a financial institution bankGovernment or debenture holders. Moratorium has been availed on certain loans from thebanks as per Covid 19 relief measures announced by the Government of India.
ix. The Company has not raised money by way of initial public offer orfurther public offer during the Current year and the term loans were applied for thepurposes for which those were raised.
x. In our opinion and according to the information and explanationsgiven to us no fraud on or by the Company has been noticed or reported during thefinancial period.
xi. In our opinion and according to the information and explanationsgiven to us the Company has paid / provided managerial remuneration in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act 2013.
xii. In our opinion the Company is not a Nidhi Company. Accordinglyclause xii of Para 3 of Companies (Auditors Report) Order 2016 is not applicable.
xiii. In our opinion and according to the information and explanationgiven to us all transactions with the related parties are in compliance with sections 177and 188 of Companies Act 2013 where applicable and the details have been disclosed in theStandalone Financial Statements as required by the applicable accounting standards.
xiv. According to the information and explanations given to us theCompany has not made any preferential allotment or private placement of Equity sharecapital or fully or partly convertible debentures during the year. Accordingly clause xivof Para 3 of Companies (Auditors Report) Order 2016 is not applicable.
xv. In our opinion and according to the information and explanationsgiven to us the Company has not entered into any non - cash transactions with directorsor persons connected with the Directors. Accordingly clause xv of Para 3 of Companies(Auditors Report) Order 2016 is not applicable.
xvi. In our opinion and according to the information and explanationsgiven to us the Company is not required to be registered under Section 45-lA of theReserve Bank of India Act 1934. Accordingly clause xvi of Para 3 of Companies (AuditorsReport) Order 2016 is not applicable.
Annexure B to the Independent Auditor's Report
Report on the Internal Financial Controls under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")
We have audited the internal financial controls over financialreporting of RADAAN MEDIAWORKS INDIA LIMITED ("the Company") as of March 312021 in conjunction with our audit of the standalone financial statements of the Companyfor the year ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls OverFinancial Reporting 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 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 Companies Act 2013.
Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and 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 over financial reporting and theiroperating effectiveness. Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor's judgement including the assessment ofthe risks of material misstatement of the standalone financial statements whether due tofraud or error.
We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internalfinancial controls system over financial reporting.
Meaning of Internal Financial Controls Over Financial Reporting
A Company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of standalone financial statements for external purposes inaccordance with generally accepted accounting principles. A Company's internal financialcontrol over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of theCompany;
(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 authorizations of management and directorsof the Company; and
(3) provide reasonable assurance regarding prevention or timelydetection of unauthorized acquisition use or disposition of the Company's assets thatcould have a material effect on the standalone financial statements.
Inherent Limitations of Internal Financial Controls Over FinancialReporting
Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.
In our opinion the Company has in all material respects an adequateinternal financial controls system over financial reporting and such internal financialcontrols over financial reporting were operating effectively as at March 31 2021 basedon the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India.
| ||For SRSV & Associates |
| ||Chartered Accountants |
| ||F.R.No. 015041S |
| ||-sd- |
| ||V. Rajeswaran |
| ||Partner |
|Place: Chennai ||Membership .No. 020881 |
|Date: 30 June 2021 ||UDIN NO. : 21020881AAAADU7324 |