We have audited the Ind AS Financial Statements of HEALTHY INVESTMENTS LIMITED
(“the Company”), which comprise the Balance Sheet as at March 31,2024, the Statement of Profit
and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the
Statement of Cash Flows for the year then ended, and Notes to the Financial Statements, including
a summary of Material Accounting Policies and Other Explanatory Information.
In our opinion and to the best of our information and according to the explanations given to us,
except for the effects of the matter described in the Basis for Qualified Opinion section of our
report, the aforesaid Financial Statements give the information required by the Companies Act,
2013 in the manner so required and give a true and fair view in conformity with the Indian
Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended, (“Ind AS”) and the Accounting Principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2024, and its
Profit and Other Comprehensive Income, Changes in Equity and its Cash Flows for the year ended
on that date.
Basis for Qualified Opinion
The Company has not obtained Certificate of Registration from Reserve Bank of India or its
consent, in accordance with the provisions of Section 45IA of the Reserve Bank of India Act, 1934,
for carrying on the business of dealing in investment in shares and other securities.
We conducted our audit 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 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 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 qualified opinion.
Key audit matters are those matters that, in our professional judgment, were of most significance
in our audit of the Ind AS Financial Statements s for the financial year ended March 31, 2024.
These matters were addressed in the context of our audit of the Ind AS 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 that there are no key audit matters to communicate in our report.
Information Other Than the Financial Statements and Auditors’ Report Thereon
The Company’s Board of Directors is responsible for the preparation of the Other Information.
The Other Information comprises the information included in the Management Discussion and
Analysis, Director’s Report including Annexures to Director’s Report and Shareholder’s
Information but does not include the Ind AS Financial Statements and our Auditors’ Report
thereon. The board reports including Management Discussion and Analysis report is expected to
be made available to us after the date of this Auditors’ Report.
Our opinion on the Ind AS Financial Statements does not cover the other information and we do
not express any form of assurance conclusion thereon.
In connection with our audit of the Ind AS Financial Statements, our responsibility is to read the
other information and, in doing so, consider whether the other information is materially
inconsistent with the Ind AS Financial Statements or our knowledge obtained in the audit or
otherwise appears to be materially misstated.
When we read the Director’s reports including Management Discussion and Analysis report, if we
conclude that there is a material misstatement therein, we are required to communicate the matter
to those charged with governance.
Responsibilities of Management and Those Charged with Governance for the 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 Ind AS Financial
Statements that give a true and fair view of the financial position, financial performance, total
comprehensive income, changes in equity and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the Ind AS specified under section
133 of the Act. 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 Ind AS Financial Statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.
In preparing the Ind AS Financial Statements, the management 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 management either
intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company’s financial reporting
process.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the Ind AS Financial Statements
as a whole are free from material misstatement, whether due to fraud or error, and to issue an
Auditors’ 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 Ind AS 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 Ind AS 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 Auditors’ report to the related disclosures in the Ind AS
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 Auditors’ 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 Ind AS Financial Statements,
including the disclosures, and whether the Ind AS 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.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2020 issued by the Central
Government of India in terms of sub-section (11) of Section 143 of the Act (hereinafter
referred to the “Order”), and on the basis of such checks of the books and records of the
Company as we considered appropriate and according to the information and explanations
given to us, we give in the Annexure-1 a statement on the matters specified in paragraphs
3 and 4 of the Order to the extant applicable.
2. As required by section 143(3) of the Act, based on our audit we report that:
a) we have sought and obtained all the information and explanations which to the 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 it appears from our examination of those books;
c) the Balance Sheet, the Statement of Profit and Loss (including other comprehensive
income), the Statement of Cash Flows and the Statement of Changes in Equity dealt
with by this Report are in agreement with the books of account;
d) in our opinion, the aforesaid Ind AS Financial Statements comply 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,
2024, and taken on record by the Board of Directors, none of the Directors is
disqualified as on March 31, 2024, from being appointed as a director in terms of
Section 164(2) of the Act;
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 -2”.
g) with respect to the other matters to be included in the Auditors’ Report in accordance
with the requirements of section 197(16) of the Act, as amended, we report that the
Company neither paid nor provided for any remuneration during the year.
h) with respect to the other matters to be included in the Auditors’ Report in accordance
with Rule 11 of the Companies (Audit and Auditors), 2014, in our opinion and to the
best of our information and according to the explanations given to us;
i. the Company has no pending litigations which would impact its financial
position;
ii. in our opinion and as per the information and explanations provides to us, the
Company has not entered into any long-term contracts including derivative
contracts, requiring provision under applicable laws or accounting standards, for
material foreseeable losses, and
iii. the Company has no amounts required to be transferred, to the Investor Education
and Protection Fund as at the end of the financial year under review;
iv. a. the Management has represented that, to the best of its knowledge and belief,
as disclosed in the Note 30.8 to the Notes to Financial Statements, no funds 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 entities (“Intermediaries”), with the
understanding, whether recorded in writing or otherwise, that the Intermediary
shall, 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,
as disclosed in the Note 30.9 to the Notes to Financial Statements, no funds have
been received by the Company from any person or entity, including foreign
entities (“Funding Parties”), with the understanding, whether recorded in writing
or otherwise, that the Company shall, 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 performed 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) contain any material misstatement.
v. the Company has neither declared nor paid any dividend during the year; and
vi. based on our examination, which included test checks, the Company has used
accounting software for maintaining its books of account for the financial year
ended March 31, 2024, 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 software. Further, during the course of our audit we did not come
across any instance of the audit trail feature being not preserved or tampered with.
For NARASIMHA RAO & ASSOCIATES
Chartered Accountants
FRN: 002336S
POORNACHANDRA RAO SAMBARAJU
HYDERABAD Partner
May 29, 2024 M.No. 025403
UDIN: 24025403BKEYSO5949
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