We have audited the accompanying Financial Statements of "Invicta Diagnostic Pvt Ltd." ("the
Company") which comprise the Balance Sheet as at March 31, 2024, and the Statement of Profit
& Loss, statement for the year then ended and the notes to the financial statements, including a
summary of significant accounting policies and other explanatory information.
Opinion
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 the state of affairs of the Company as at 31st March 2024, its Profit for the
year ended on that date.
Basis Of Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
Section 143(10) of the Act. 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 ("the ICAI") together with the ethical requirements that are
relevant to our audit of the financial statements under the provisions of the Act and the Rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Information other than the Financial Statements and Auditors Report Thereon
The Company's Board of Directors and Management is responsible for the preparation of the other
Information. The other information comprises the information obtained at the date of this
auditor's report but does not include the financial statements and our auditor's report thereon.
Our opinion on the 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 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 our knowledge obtained during the course of our 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 this other information, we are required to report that fact. We
have nothing to report in this regard.
Management's Responsibility for the Financial Statements
The Management & the Board of Directors are responsible for the matters stated in Sec 134(5) of
the Companies Act, 2013 ('the act') with respect to the preparation of these financial statements
that give a true and fair view of the financial position, financial performance of the company in
accordance with the accounting principles generally accepted in India, including Accounting
Standards specified U/s. 133 of the Act read with Rule 7 of the Companies (Account) Rules,2014.
This responsibilities includes 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 & application of appropriate accounting policies; making
judgements & estimates that are reasonable & prudent; design, implementation & maintenance of
adequate internal financial controls, that are operating effectively for ensuring the accuracy &
completeness of the accounting records, relevant to the preparation & presentation of the
financial statements that give a true & fair view & are free from material misstatement, whether
due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these 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.
As part of an audit in accordance with SAs, we exercise professional judgement and maintain
professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the 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.
• 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.
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 on our independence, and
where applicable, related safeguards.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order, 2020 ("the Order") issued by the
Central Government of India in terms of sub section (11) of Section 143 of the Act, have not
been included as per para l(2)(iv) of CARO, 2020, the order shall not apply to "Small
Company" and the company is a small company as per the amended definition of
Companies(Specification of Definition Details) Rules, 2014 as
(a) The paid-up share capital of which does not exceed Four crore rupees and
(b) The turnover as per profit and loss account for the immediately preceding
financial year does not exceed Forty crore rupees.
2. As required by Section 143(3) of the Act, we further report that:
i) We have sought & obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit;
ii) 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.
iii) The Balance Sheet & Statement of Profit and Loss Statement dealt with by this report
are in agreement with the Books of Account;
iv) In our opinion, the aforesaid financial statements comply with the Accounting
Standards specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules 2014;
v) 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) Act;
vi) As per Notification No. gsr(E) dated 13th June 2017 issued by Ministry of Corporate
Affairs, the company is exempted from the applicability of clause(i) of Section 143(3)
as it is a private company:
• Which has turnover less than Fifty Crores as per latest audited financial statement
and
• The Aggregate borrowings from banks or financial institutions or any body
corporate at any point of time during the financial year is less than rupees
Twenty-Five Crores
vii) With respect to the other matters to be included in the Auditor's Report in accordance
with the requirements of Section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations
given to us, the remuneration paid by the Company to its directors during the year is
in accordance with the provisions of Section 197 of the Act.
viii) 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 the other matters to be included in the
Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014 :
a. The Company does not have any pending litigation which would impact its financial
position
b. The Company did not have any long-term contracts including derivative contracts; as
such the question of commenting on any material foreseeable loss thereon does not
arise
c. There has not been on occasion in case of the Company during the year under report
to transfer any sum to the Investor Education and Protection Fund. The question of
delay in transferring such sums does not arise.
ix) a. The management has represented that, to the best of its knowledge and belief, 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,
whether directly or indirectly lend or invest in other person or entity identified in any
manner whatsoever by or 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 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, whether directly or
indirectly, lend or invest in other person or entity identified in any manner whatsoever
by or behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the ultimate beneficiaries; and
c. Based on such audit procedures that were considered reasonable and
appropriate in the circumstances, nothing has come to our notice that has
caused us to believe that representations under sub clause (a) and (b) contain any
material mis-statement
x) The Company has neither declared nor paid any dividend during the year
For KANAK RATHOD & CO
CHARTERED ACCOUNTANTS FIRM REG. NO.
KANAK RATHOD
PROPRIETOR
M.NO. 032833
PLACE: MUMBAI
DATE:
UDIN: 24032833BKFXOT5226
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