1. We have audited the accompanying Standalone financial statements of
Maitreya Medicare Limited (Formerly known as Maitreya Medicare Private
Limited), which comprise the balance sheet as at 31st March 2025, and the
statement of profit and loss, statement of cash flows for the period then
ended, and notes to the financial statements, including a summary of
significant accounting policies and other explanatory information.
Management's Responsibility for the Standalone Financial
Statements
2. The management and Board of Directors of the Company are
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 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, read with rule 7 of Companies (Accounts)
Rules, 2014. This responsibility 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 and application of
appropriate accounting policies; making judgments and estimates
that are reasonable and prudent; design, implementation and
maintenance of adequate internal financial controls, that are operating
effectively for ensuring the 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.
Auditor's Responsibility
3. Our responsibility is to express an opinion on these standalone
financial statements based on our audit. We have considered the
provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under
the provisions of the Act and the Rules made there under. We
conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
4. An audit involves performing procedures to obtain audit
evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal
financial control relevant to the Company's preparation of the financial
statements, that give a true and fair view, in order to design audit
procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on whether the Company has in place
an adequate internal financial controls system over financial reporting
and the operating effectiveness of such controls. An audit also
includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by the
Company's management and Board of Directors, as well as evaluating
the overall presentation of the financial statements.
5. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the standalone
financial statements.
Opinion
6. In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid standalone 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 2025, its profit/loss and its cash
flows for the period ended on that date.
Report on Other Legal and Regulatory Requirements
7. 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, 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
A" a statement on the matters Specified in paragraphs 3 and 4 of the
Order report as per this order.
8. As required by section 143(3) of the Act, we further 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, Statement of Profit and Loss, and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d) in our opinion, the aforesaid Standalone financial statements comply
with the applicable Accounting Standards 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 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 B".
g) 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. The Company does not have any legal pending court
litigations which would impact its financial position; except
cases under the consumer court filed by patients against
various insurance companies in which company is co¬
respondent. (Please see Notes No. 31.24 to the Balance Sheet)
ii. The Company did not have any long-term contracts including
derivative contracts; as such the question of commenting on
any material foreseeable losses thereon does not arise;
iii. There has not been an occasion in case of the Company during
the period under report to transfer any sums to the Investor
Education and Protection Fund. The question of delay in
transferring such sums does not arise.
h) The company, has used such accounting software for maintaining its
books of account which:
i. Has a built-in Feature of recording audit trail (edit log) facility
and
ii. The audit trail has operated throughout the year for all
transactions recorded in the software and
iii. The audit trail feature has not been tampered with.
iv. The audit trail has been preserved by the company as per the
statutory requirements for record retention.
FOR SAHERWALA & CO
CHARTERED ACCOUNTANTS
FRN 108969W
PLACE: SURAT
DATE: 30.05.2025
ESMAYEEL O. SAHERWALA
PARTNER
M. No. 122386
UDIN: 25122386BMNXHG3478
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