We have audited the accompanying financial statements of AUTORIDERS INTERNATIONAL LIMITED
("the Company"), which comprises Balance Sheet as at 31st March, 2025, the Statement of Profit and
Loss (including Other Comprehensive Income) , Statement of changes in Equity and Cash Flow
statement for the year ended 31st March 2025, including summary of significant accounting policies
and other explanatory information (herein after referred to as financial statements.)
In our opinion and to the best of our information and according to the explanations given to me, the
financial statements give the information required by the Companies Act,2013 ('Act") in the manner so
required and give a true and fair view in conformity with the accounting principles generally accepted
in India of the state of affairs of the company as at 31st March 2025, and Profit and other
comprehensive income, changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit of the standalone financial statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under
those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone
Financial Statements section of our report. We are independent of the Company in accordance with the
Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the standalone financial statements under the provisions
of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the
Financial Statements.
Emphasis of Matters
The company had granted unsecured loan of Rs. 300 Lakhs to a group company which has ceased to be
going concern. However, in the opinion of management the same is good for recovery being a loan given
to company within group. (Refer Note No. 34 of Notes forming part of accounts)
Key Audit Matter
Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the standalone financial statements of the current period. These matters were addressed in the
context of our audit of the standalone financial statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on these matters. We have determined the matters
described below to be the key audit matters to be communicated in our reports.
Revenue Recognition
The Company derives revenue primarily from activities of giving Car on Rent.
Income from car rental is recognized when service rendered and in accordance with the terms of
respective agreement wherever applicable and other income is accounted on accrual basis. Insurance
claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent
that there is no uncertainty in receiving the claims.
Revenue is recognized on satisfaction of performance obligation upon completion of services to
customers in an amount that reflects the consideration the company expects to receive in exchange for
those Services.
Revenue is measured based on transaction price which is fair value of the consideration received or
receivable, after deduction of any discounts, and any taxes or duties collected on behalf of the government
such as goods and services tax etc. Revenue is only recognized to the extent that it is highly probable a
significant reversal will not occur.
Interest income is recognized using Effective Interest Rate (EIR) method.
Principal Audit Procedures Performed
As part of our audit, we assessed the Company's revenue recognition policies, particularly for income
derived from car rentals. We examined a sample of rental agreements to ensure that revenue was
recognized accurately and in accordance with the terms of the agreements. Our procedures included testing
the accuracy and timing of revenue recognition to confirm that it occurred when services were rendered and
performance obligations were satisfied. We also reviewed other income recognized on an accrual basis,
ensuring that it was recorded only when earned, and verified that insurance claims were accounted for
when admitted or expected to be admitted. Furthermore, we evaluated the transaction price to confirm that
it reflected the fair value of the consideration received, with appropriate deductions for discounts and taxes.
We performed cut-off procedures to ensure that revenue was recognized in the correct accounting period,
and we verified the accuracy of interest income recognized using the Effective Interest Rate (EIR) method.
Finally, we reviewed the related disclosures in the financial statements to ensure they were complete,
accurate, and compliant with applicable accounting standards
Information other than the financial statements and Auditors report thereon ('Other information')
The Company's management and Board of Directors are responsible for the other information. The other
information comprises the information included in the Company's annual report, but does not include the
financial statements and auditor's report thereon.
Our Opinion on the financial statements does not cover the information and we do not express any form of
assurance or conclusions thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information
and in doing so, consider whether the other information is materially inconsistent with the financial
statements or my 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 a material misstatement of the other
information, We are required to report that fact. We have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Companies
Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a
true and fair view of the financial position, financial performance including Other comprehensive income,
changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting
principles generally accepted in India. This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the preparation and presentation of the
standalone financial statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error.
In preparing the standalone financial statements, the Board of Directors is responsible for assessing the
Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the
Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a
whole are free from material misstatement, whether due 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
audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
standalone financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the standalone financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are
also responsible for expressing our opinion on whether the company has adequate internal financial
controls system in place and the operating effectiveness of such controls
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to
the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor's report. However, future events or conditions may cause the Company to cease to continue as a
going concern.
• Evaluate the overall presentation, structure and content of the standalone financial statements,
including the disclosures, and whether the standalone financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards. From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the standalone financial statements of the current
period and are therefore the key audit matters. We describe these matters in our auditor's report unless law
or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2020 ("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" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the
extent applicable.
2. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audit;
b) In our opinion proper books of account as required by law have been kept by the Company so far as
appears from our examination of those books
c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, the
Statement of Changes in Equity and the Cash Flow Statement dealt with by this Report are in
agreement with the books of account
d) In our opinion, the standalone financial statement complies with the Ind AS specified under Section
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors as on March 31, 2025, and taken
on record by the Board of Directors, none of the directors is disqualified as on March 31, 2025, from
f) With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate Report in Annexure
'B',
g) In our opinion and to the best of our information and according to the explanations given to us, the
managerial remuneration paid or provided by the company to its directors during the year is in
accordance with the provisions of Section 197 read with Schedule V of the Act.
h) In our opinion and to the best of our information and according to the explanations given to us, we
report as under with respect to other matters to be included in the Auditor's Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014:
i. As per the information and explanations given to us there are no pending litigations other than
those disclosed in the financial statements.
ii. The Company did not have any long term contracts including derivative contracts for which there
existed any foreseeable losses
iii. There has not been any occasion in case of the Company during the year under report to
transfer any sums to the Investor Education and Protection Fund; hence the question of delay in
transferring such sums does not arise
iv. (a) The Management has represented that, to the best of its knowledge and belief, no funds
(which are material either individually or in the aggregate) have been advanced or loaned or
invested (either from borrowed funds or share premium or any other sources or kind of funds) by
the Company to or in any other person or entity, including foreign entity ("Intermediaries"), with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
whether, directly or indirectly lend or invest in other persons or entities identified in any 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, no funds
(which are material either individually or in the aggregate) have been received by the Company
from any person or entity, including foreign entity ("Funding Parties"), with the understanding,
whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly,
lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries;
c) Based on the audit procedures that have been considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that the
representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above,
contain any material misstatement.
v. Based on our examination which included test checks, the company has used an accounting
software for maintaining its books of account which has a feature of recording audit trail (edit log)
facility and the same has operated throughout the year for all relevant transactions recorded in
the respective software.
vi. No dividend has been declared or paid during the year by the Company.
vii. With respect to the matter to be included in the Auditor's Report under Section 197(16):
In our opinion and according to the information and explanations given to us, the remuneration
paid by the company to its directors during the current year is in accordance with the provisions
of Section 197 of the Act. The remuneration paid to the directors is not in excess of the limit laid
down under Section 197 of the Act. The Ministry of Corporate affairs has not prescribed other
details under Section 197(16) which are required to be commented upon by us.
For VANDANA V. DODHIA & CO.
Chartered Accountants
(Firm Reg. No. 117812W)
Vandana V. Dodhia
Partner
Membershin No.104000
UDIN NO. 25104000BMLCXB6396
Place: Mumbai
Date: 30th May, 2025
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