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Venus Remedies Ltd.

BSE: 526953 Sector: Health care
NSE: VENUSREM ISIN Code: INE411B01019
BSE 00:00 | 04 Dec 134.55 -1.70
(-1.25%)
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136.90

HIGH

137.50

LOW

132.80

NSE 00:00 | 04 Dec 134.15 -2.20
(-1.61%)
OPEN

136.35

HIGH

139.90

LOW

132.60

OPEN 136.90
PREVIOUS CLOSE 136.25
VOLUME 11332
52-Week high 159.40
52-Week low 21.15
P/E 6.00
Mkt Cap.(Rs cr) 166
Buy Price 134.55
Buy Qty 4550.00
Sell Price 135.15
Sell Qty 50.00
OPEN 136.90
CLOSE 136.25
VOLUME 11332
52-Week high 159.40
52-Week low 21.15
P/E 6.00
Mkt Cap.(Rs cr) 166
Buy Price 134.55
Buy Qty 4550.00
Sell Price 135.15
Sell Qty 50.00

Venus Remedies Ltd. (VENUSREM) - Auditors Report

Company auditors report

To the Members of

VENUS REMEDIES LIMITED

Report on the Audit of the Standalone Ind AS Financial Statements

(b) The lenders of the company has approved corporate debt restructuring package of thecompany in financial year 2014-15. However the company has defaulted in repayment ofborrowing to lenders and was unable to comply with terms of repayment approved by lendersin corporate debt restructuring package.

The company has provided interest expenses of `2612.41 Lakhs upto 3rd quarter offinancial year 2018-19 on all loans. However the company has reversed the interestexpenses of `834.23 Lakhs on loans for which interest is not applied by the banks in theiraccounts and also not provided interest of `299.71 Lakhs pertaining to 4th Quarter offinancial year 2018-19 for such loans. As a result interest expenses of

`1133.94 Lakhs pertaining to financial year 2018-19 has not been provided in the books.

(Refer Note no. 28 to Standalone Ind AS Financial Statements)

We further report that without considering items mentioned at paragraphs (a) abovethe effects of which could not be determined had the qualification made by us inparagraph (b) above been considered during the year ended 31 March 31 2019 finance costswould have been र 3648.56 Lakhs (as against the reported figure of र 2514.62Lakhs) the loss for the year would have been `3845.02 Lakhs (as against the reported lossof र 2711.08 Lakhs) other equity in the balance sheet as on 31st March 2019 wouldhave been `31727.05 Lakhs (as against the reported figure of र 32860.99 Lakhs) andother financial liabilities (current) as on 31 March 2019 would have been `11804 Lakhs(as against the reported figure of `10670.06 Lakhs).

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder Section 143(10) of the Act. Our responsibilities under those SAs are furtherdescribed in the Auditor's Responsibilities for the Audit of the Standalone Ind ASFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued

QUALIFIED OPINION

We have audited the Standalone Ind AS financial statements of VENUS REMEDIES LIMITED("the Company") which comprise the Balance Sheet as at 31 March 2019 and theStatement of Profit and Loss (including other comprehensive income) Statement of Changesin Equity and Statement of Cash Flows for the year then ended and notes to the StandaloneInd AS financial statements including a summary of significant accounting policies andother explanatory information (hereinafter referred to as "the Standalone Ind ASfinancial statements").

In our opinion and to the best of our information and according to the explanationsgiven to us except for the effects of the matter described in the Basis for QualifiedOpinion paragraph below the aforesaid Standalone Ind AS financial statements give theinformation required by the Companies Act 2013 ("the Act") in the manner sorequired and give a true and fair view in conformity with the accounting principlesgenerally accepted in India of the state of affairs of the Company as at 31 March 2019and loss (including other comprehensive income) changes in equity and its cash flows forthe year ended on that date.

BASIS FOR QUALIFIED OPINION

(a) The capital work in progress consist of new office building under construction. Thecarrying amount of which as on 31st March 2019 is `6476.42 Lakhs.

The construction work on the building is stopped in previous years. The company intendsto complete the building in the future years and use it for their marketing office andtraining centre. The company expects to complete this building and accordingly noimpairment study was carried out by the company. In light of above the consequentialimpact of impairment loss if any on the standalone Ind AS Financial Statements iscurrently not ascertainable.

(Refer Note no.1 to Standalone Ind AS Financial Statements) by the Institute ofChartered Accountants of India together with the ethical requirements that are relevant toour audit of the Standalone Ind AS financial statements under the provisions of the Actand the Rules thereunder 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 (‘KAM') are those matters that in our professional judgmentwere of most significance in our audit of the Standalone Ind AS financial statements ofthe current period. These matters were addressed in the context of our audit of theStandalone Ind AS financial statements as a whole and in forming our opinion thereon andwe do not provide a separate opinion on these matters.

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

OTHER MATTERS

The standalone Ind AS financial statements of company for the year ended 31st March2018 were audited by another auditor who expressed an unmodified opinion on thosestandalone Ind AS financial statements on 28th May 2018.

Our opinion is not modified in respect of above matter.

INFORMATION OTHER THAN THE STANDALONE IND AS FINANCIAL STATEMENTS AND AUDITOR'S REPORTTHEREON

The Company's management and Board of Directors are responsible for the otherinformation. The other information comprises the information included in the Company'sannual report but does not include the Standalone Ind AS financial statements and ourauditors' report thereon.

Our opinion on the Standalone Ind AS financial statements does not cover the otherinformation and we do not express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Ind AS financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the Standalone Ind AS financialstatements or our knowledge obtained in the audit or otherwise appears to be materiallymisstated. 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 IND AS FINANCIAL STATEMENTS

The Company's management and Board of Directors are responsible for the matters statedin Section 134(5) of the Act with respect to the preparation of these Standalone Ind ASfinancial statements that give a true and fair view of the state of affairs profit / loss(including other comprehensive income) changes in equity and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Standalone Ind AS) specified under Section 133 of the Act.This responsibility also includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the Standalone Ind ASfinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the Standalone Ind AS financial statements management and Board ofDirectors are responsible for assessing the Company's ability to continue as a goingconcern disclosing as applicable matters related to going concern and using the goingconcern basis of accounting unless management either intends to liquidate the Company orto cease operations or has no realistic alternative but to do so.

Board of Directors is also responsible for overseeing the Company's financial reportingprocess.

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE STANDALONE IND AS FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the Standalone Ind ASfinancial 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 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 Ind AS financialstatements.

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 Standalone Ind ASfinancial 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 hasadequate internal financial controls with reference to Standalone Ind AS financialstatements in place 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.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe Standalone Ind AS financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditors' report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the Standalone IndAS financial statements including the disclosures and whether the Standalone Ind ASfinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

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 Ind AS financialstatements of the current period and are therefore the key audit matters. We describethese matters in our auditors' report unless law or regulation precludes public disclosureabout the matter or when in extremely rare circumstances we determine that a mattershould not be communicated in our report because the adverse consequences of doing sowould reasonably be expected to outweigh the public interest benefits of suchcommunication.

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 143(11) of the Act we givein "Annexure A" a statement on the matters specified in paragraphs 3 and 4 ofthe Order to the extent applicable.

2. As required by Section 143(3) of the Act we report that: (a) We have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit. (b) Except for the effects of thematter described in the "Basis for Qualified opinion" paragraph above in ouropinion proper books of account as required by law have been kept by the Company so faras it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss (including other comprehensiveincome) the Statement of Changes in Equity and the Statement of Cash Flows dealt with bythis Report are in agreement with the books of account.

(d) Except for the effects of the matter described in the "Basis for Qualifiedopinion" paragraph above in our opinion the aforesaid Standalone Ind AS financialstatements comply with the Ind AS specified under Section 133 of the Act.

(e) On the basis of the written representations received from the directors as on 31March 2019 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2019 from being appointed as a director in terms of Section164(2) of the Act.

(f) With respect to the adequacy of the internal financial controls with reference tofinancial statements of the Company and the operating effectiveness of such controlsrefer to our separate Report in "Annexure B".

(g) The qualification relating to the maintenance of accounts and other mattersconnected therewith are as stated in the ‘Basis for Qualified Opinion' paragraphabove.

(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 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 as at 31 March 2019 onits financial position in its Standalone Ind AS financial statements

- Refer Note 46 to the Standalone Ind AS 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; and

iv. The disclosures in the Standalone Ind AS financial statements regarding holdings aswell as dealings in specified bank notes during the period from 8 November 2016 to 30December 2016 have not been made in these Standalone Ind AS financial statements sincethey do not pertain to the financial year ended 31 March 2019.

3. With respect to the matter to be included in the Auditors' Report under section197(16):

(i) In our opinion and according to the information and explanations given to us thecompany has paid/provided managerial remuneration of `194.05 Lakhs during the year ended31st March 2019 for which the company has filed applications to seek the approval fromCentral Government under section 197 of the Companies Act 2013.

The central government has communicated that the application made to it shall abateconsidering the Companies (Amendment) Act 2017 and closed the applications. The centralgovernment also clarified that the onus of compliance with provisions of the CompaniesAct 2013 as amended vide the Companies (Amendment) Act 2017 lies with the company.

The Company is yet to take steps to comply the provisions and the said managerialremuneration so paid/provided is subject to the approvals to be obtained in accordancewith the provisions of section 197 of the Companies Act 2013 as amended vide theCompanies (Amendment) Act 2017 till date. The Ministry of Corporate Affairs has notprescribed other details under Section 197(16) which are required to be commented upon byus.

For Vinod Kumar & Associates
Chartered Accountants
FRN-002304N
Sd/-
Mukesh Dadhich
Partner
M.No. 511741
Date: 30th May 2019
Place: Panchkula

ANNEXURE A TO THE INDEPENDENT AUDITORS' REPORT

With reference to the Annexure A referred to in the Independent Auditors' Report to themembers of the Company on the Standalone Ind AS financial statements for the year ended 31March 2019 we report the following:

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

(b) The fixed assets have been physically verified by the management at reasonableintervals and no material discrepancies have been noticed on physical verification asconfirmed by the management. In our opinion this periodicity of physical verification isreasonable having regard to the size of the Company and the nature of its assets.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the company the title deeds of immovable properties areheld in the name of the company.

(ii) The Company has been regular in following the procedures of physical verificationof inventories which is reasonable and adequate in relation to the size of the company andthe nature of its business.

In our opinion and on the basis of our examination of inventory records we are of theopinion that the company is maintaining proper records of inventory and no materialdiscrepancies were observed on physical verification done by the management.

(iii) The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships and other parties mentioned in the register maintainedunder section 189 of the Companies Act 2013. Since the company has not granted anyloans provisions of clause (iii) (a) to (iii) (c) of the Order are not applicable to theCompany.

(iv) In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of Section 185 and 186 of the Act with respectto the loans and investments made securities and guarantees given.

(v) The Company has not accepted any deposit from the public. Thus paragraph 3(v) ofthe Order is not applicable.

(vi) On the basis of records produced we are of the opinion that prima facie costrecords and accounts prescribed by the central government under section 148 of the act inrespect of the products of "the company" covered under the rules under saidsection have been maintained. However we are neither required to carry out nor havecarried out any detailed examination of such accounts and records.

(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 employee's stateinsurance income tax sales tax duty of excise service tax Goods and Service Tax dutyof customs value added tax cess and other material statutory dues have been regularlydeposited during the year by the Company with the appropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund employee's state insurance income tax sales taxservice tax Goods and Service Tax duty of customs value added tax cess and othermaterial statutory dues were in arrears as at 31st March 2019 for a period of more thansix months from the date they became payable

(b) According to the information and explanations and records of the company the duesoutstanding of income-tax sales- tax wealth-tax service tax Goods and Service Taxcustom duty excise duty value added tax and cess which have not been deposited by thecompany on account of any dispute are as follow:

Period to which the Forum where dispute Demand Amount
Nature of statute Nature of the dues
amount relates is pending (` In lakhs)
Income Tax Act 1961 Income Tax AY 2011-12 Commissioner of 16.04
Income tax appeals

(viii) In our opinion and according to the information and explanations given to usthe Company has defaulted in the repayment of loans or borrowings to banks which werepersisting as on 31 March 2019 are as under. ` In Lakhs

Demand Amount (`In lakhs)

Name of the Bank 0-1 years Period of Default* 1-2 years 2-3 years TOTAL default amount Interest**
Amount of default as at the balance sheet date*
ANADHRA BANK - - - - 0.15
COPORATION BANK 255.20 208.42 125.36 588.98 316.19
DENA BANK - 12.48 217.86 230.34 -
EXIM BANK 51.85 571.15 665.50 1288.5 1113.26
IDBI 315.42 564.57 631.51 1511.5 1361.60
SBI - 4.91 541.60 546.51 11.14
Working Capital (IDBI) - - - - 84.42

*Based on Corporate debt restructuring approved by bank.

** Period of default is unascertainable based on information provided to us. TheCompany did not have any dues to debenture holders during the year.

(ix) In our opinion and according to the information and explanations given to us theCompany did not raise any money by way of initial public offer or further public offer(including debt instruments) and term loans during the year. Accordingly paragraph 3(ix)of the Order is not applicable to the Company.

(x) According to the information and explanations given to us no fraud by the Companyor on the Company by its officers or employees has been noticed or reported during thecourse of our audit.

(xi) According to the information and explanations given to us and based on ourexamination of the records of the company the company has paid/provided managerialremuneration of `194.05 Lakhs during the year ended 31st March 2019 for which the companyhas filed applications to seek the approval from Central Government under section 197 ofthe Companies Act 2013.

The central government has communicated that the application made to it shall abateconsidering the Companies (Amendment) Act 2017 and closed the applications.

The central government also clarified that the onus of compliance with provisions ofthe Companies Act 2013 as amended vide the Companies (Amendment) Act 2017 lies with thecompany.

The Company is yet to take steps to comply the provisions and the said managerialremuneration so paid/ provided is subject to the approvals to be obtained in accordancewith the provisions of section 197 of the Companies Act 2013 as amended vide theCompanies (Amendment) Act 2017 till date.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

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

For Vinod Kumar & Associates
Chartered Accountants
FRN-002304N
Sd/-
Mukesh Dadhich
Partner
M.No. 511741
Date: 30th May 2019
Place: Panchkula

ANNEXURE B TO THE INDEPENDENT AUDITORS' REPORT

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

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls with reference to Standalone Ind ASfinancial statements of VENUS REMEDIES LIMITED ("the Company") as of 31 March2019 in conjunction with our audit of the Standalone Ind AS financial statements of theCompany for the year ended on that date.

MANAGEMENT'S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control with reference to Standalone Ind ASfinancial statements criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting (the "Guidance Note") issued by the Instituteof Chartered Accountants of India ("ICAI"). These responsibilities include thedesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to the Company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Act.

AUDITOR'S RESPONSIBILITY

Our responsibility is to express an opinion on the Company's internal financialcontrols with reference to Standalone Ind AS financial statements based on our audit. Weconducted our audit in accordance with the Guidance Note and the Standards on Auditingissued by ICAI and deemed to be prescribed under Section 143(10) of the Act to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by ICAI. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls withreference to Standalone Ind AS financial statements was established and maintained and ifsuch controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial control system with reference to Standalone Ind AS financialstatements and their operating effectiveness. Our audit of internal financial controlswith reference to Standalone Ind AS financial statements included obtaining anunderstanding of internal financial controls with reference to Standalone Ind AS financialstatements 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 of therisks of material misstatement of the Standalone Ind AS financial statements whether dueto 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 systemwith reference to Standalone Ind AS financial statements.

MEANING OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO STANDALONE IND AS FINANCIALSTATEMENTS

A company's internal financial control with reference to Standalone Ind AS financialstatements is a process designed to provide reasonable assurance regarding the reliabilityof financial reporting and the preparation of Standalone Ind AS financial statements forexternal purposes in accordance with generally accepted accounting principles. A company'sinternal financial control with reference to Standalone Ind AS financial statementsincludes those policies and procedures that (1) pertain to the maintenance of recordsthat in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of Standalone Ind ASfinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorisations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorised acquisition use ordisposition of the company's assets that could have a material effect on the StandaloneInd AS financial statements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO STANDALONE IND ASFINANCIAL STATEMENTS

Because of the inherent limitations of internal financial controls with reference toStandalone Ind AS 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 Ind AS financial statements to future periods aresubject to the risk that the internal financial control with reference to Standalone IndAS financial statements may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

OPINION

In our opinion the Company has in all material respects an adequate internalfinancial controls system with reference to Standalone Ind AS financial statements andsuch internal financial controls with reference to Standalone Ind AS financial statementswere operating effectively as at 31 March 2019 based on the internal control withreference to Standalone Ind AS financial statements criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Noteissued by the ICAI.

For Vinod Kumar & Associates
Chartered Accountants
FRN-002304N
Sd/-
Mukesh Dadhich
Partner
M.No. 511741
Date: 30th May 2019
Place: Panchkula

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