We have audited the accompanying standalone financial statements of integrated Hitech Limited ("the
Company") which comprise the Balance Sheet as at March 31st, 2024 and the statement of Profit and
Loss and the cash flows Statement for the year then ended and notes to the financial statements
including a summary of significant accounting policies. In our opinion and to the best of our
information and according to the explanations given to us the aforesaid financial statements give the
information required by the Act in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India of their state of affairs of the Company as at
March 31st, 2024, and loss and its cash flows for the year then ended.
Basis for Opinion
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 ICAI and we have fulfilled
our other ethical responsibilities in accordance with the provisions of the Companies Act 2013. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Key Audit Matters
Key audit matters are those matters that in our professional judgment were of most significance in our
audit of the financial statements of the current period. These matters we addressed in the context of
our audit of the financial statements as a whole and in forming our opinion thereon and we do not
provide a separate opinion on these matters No such matters were identified during the course of our
audit.
Emphasis of Matter Paragraph
1. As per Section 203 of the Companies Act, 2013 read with Rule 8 & Rule 8A of The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, Every listed company
and every other Public Company or Private Company having a paid-up share capital of ten crore
rupees or more shall have Whole-time Company Secretary as Key Managerial personnel (KMP).
The Company Secretary has resigned during the FY 2023-24 on 29th of February 2024. The
Management has confirmed that they will appoint the company secretary in the coming Board
meeting. Currently there are no Company secretary in place.
2. The Board has decided and Confirmed the Debtors value of Rs. 2,00,00,000/- receivable for
more than 3 years as a bad debt, there are no chance of recovery from the debtors. This has high
impact in the balance sheet.
3. The intangible Asset - Web portal has been revalued by the management and confirmed that
there is no future economic benefit are expected from its use or disposal, based on the Web
portal has been derecognised the carrying amount and the same taken to Profit and loss
account.
Our opinion is not modified in respect of these matters.
Responsibilities of Management and Those Charged with Governance for the Financial
Statements
The Company's Board of Directors is responsible for the preparation and presentation of these financial
statements in term of the requirements of the Companies Act 2013 that give a true and fair view of the
financial position, financial performance and cash flows of the Company in accordance with the
accounting principles generally accepted in India including the Accounting Standards specified under
section 133 of the Act. The respective Board of Directors of the companies are responsible for
maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding 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 the design implementation and maintenance of
adequate internal financial controls that were operating effectively for ensuring accuracy and
completeness of the accounting records relevant to the preparation and presentation of the financial
statements
that give a true and fair view and are free from material misstatement whether due to fraud or error
which have been used for the purpose of preparation of the financial statements by the Directors of the
Company as aforesaid.
In preparing the financial statements the respective Board of Directors of the companies are
responsible for assessing the ability of the Company to continue as a going concern disclosing as
applicable matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations or has no realistic
alternative but to do so.
The respective Board of Directors of the companies included in the Company is responsible for
overseeing the financial reporting process of the Company.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the 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 financial statements
Report on Other Legal and Regulatory Requirements
As required by Section 143(3) of the Act we report to the extent applicable 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 purposes of our audit of the aforesaid financial
statements.
(b) In our opinion proper books of account as required by law relating to preparation of the aforesaid
financial statements have been kept so far as it appears from our examination of those books and the
reports of the other auditors.
(c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this
Report are in agreement with the relevant books of account maintained for the purpose of preparation
of the financial statements.
(d) in our opinion the aforesaid financial statements comply with the Accounting Standards specified
under Section 133 of the Act.
(e) On the basis of the written representations received from the directors of the Company as on 31st
March 2024 taken on record by the Board of Directors of the Company none of the directors of the
companies are disqualified as on 31st March 2024 from being appointed as a director in terms of
Section 164 (2) of the Act.
(f) With respect to the adequacy of internal financial controls over financial reporting of the Group and
the operating effectiveness of such controls refer to our separate report in Annexure
(g) with respect to the other matters to be included in the Auditor's Report in accordance with Rule 11
of the Companies (Audit and Auditor's) Rules 2014 in our opinion and to the best of our information
and according to the explanations given to us:
i) There were no pending litigations which would Impact the financial position.
ii) The Company did not have any material foreseeable losses on long term contracts including
derivative contracts.
iii) There were no amounts required to be transferred to the Investor Education and Protection Fund
by The Company.
For A John Moris& Co.,
Chartered Accountants,
FRN: 007220S
Sd/-
CA A. John Moris
Place: Chennai Partner
Date : 27-05-2024 M.No.: 029424
UDIN: 24029424BKCPEF7602
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