1. Title deeds of Immovable Property held in name of the Company
According to the information and explanations given to us, the records examined by us and based on the
examination of the conveyance deeds/ registered sale deed provided to us, we report that, the title deeds,
comprising all the immovable properties of land and buildings which are freehold, are held in the name of the
Company as at the balance sheet date. In respect of immovable properties of land and building that have been
taken on lease and disclosed as fixed assets in the financial statements, the lease agreements are in the name
of the Company.
2. Revaluation of Property, Plant and Equipment
Company has adopted historical cost model for accounting for PPE and intangibles; hence no revaluation has
been carried out by the company.
3. Loans or Advances
Company has not granted any loans or advances in the nature of loans either repayable on demand or without
specifying any terms or period of repayment to Promoters, related parties as defined in clause (76) of section
2 of the Companies Act, 2013;
5. There are no Intangible assets under development therefore no ageing schedule/completion schedule obtained.
6. Details of Benami Property held
According to information and explanations given to us and result of our audit procedures, in our opinion, no
proceedings have been initiated or are pending against the company for holding any Benami property under
the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under.
7. Security of current assets against borrowings
The Company has borrowing in excess of Rs. 5 crores from banks or financial institutions on the basis of security
of current assets. Quarterly returns or statements of currents assets files by the Company with banks or finan¬
cial institutions are in agreement with the books of accounts. Except disclosed as under:
Note:-
a) Calculation for delay in no. of days in based of 30
days' time limit and not on month basis.
b) Charge has been created in favour of SBICAP TRUST¬
EE COMPANY LIMITED on behalf of State Bank of In¬
dia and HDFC Bank as per sanction letter given by
State Bank of India for Rs.76,98,04,653.00 Crores
but as per record of ROC the charges created ear¬
lier by the company in favour of HDFC bank for
Rs.26,76,67,000.00 and Rs.2,00,000.00 for limit and
corporate card is not yet satisfy as both are part of
new charge creation.
c) Charges in favour of Union Bank of India for
Rs.9,15,000.00 is not yet satisfy as there is no loan
from the bank.
11. Compliances with numbers of layers of companies.
According to the information and explanations given
to us and on the basis of our audit procedures, we are
of the opinion that the company does not have any
subsidiary company.
12. Analytical Ratios
We have compiled the ratio analysis chart for the pre¬
vious year ended on 31st March 2024 on the basis of
audited financial statements of that year and have
also calculated the same ratios on the basis of current
audited results. According to the information and ex¬
planations given to us and on the basis of our audit
procedures, numerator and denominator of following
ratios are based on nature of company operations and
the applicable regulatory requirements that a compa¬
ny needs to comply with.
13. Compliance with approved Scheme(s) of Arrange¬
ments
According to the information and explanations given
to us and on the basis of our audit procedures, there is
no scheme of any arrangement has been approved by
the competent authority which requires compliances
under section 230 to 237 of the Companies Act, 2013.
14. Utilization of Borrowed funds and share premium
According to our information and explanations given
to us and on the basis of our audit procedures, we are
of the opinion that the company has not made any
advance or investment or given any loan to any oth¬
er entity or person including foreign entities (Called
Intermediaries) with an understanding to 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 to or on behalf of the
Ultimate Beneficiaries.
15. (A) The Company has not advanced or loaned or
invested funds to any other person(s) or enti-
ty(ies), including foreign entities (Intermediar¬
ies) with the understanding (whether recorded
inwriting 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 to
or on behalf of the Ultimate Beneficiaries;
(B) The Company has not received any fund from
any person(s) or entity(ies), including foreign
entities (Funding Party) 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.
16. The Company does not have any transaction which is
not recorded in the books of accounts that has been
surrendered or disclosed as income during the year
in the tax assessments under the Income Tax Act,
1961 (such as, search or survey or any other relevant
provisions of the Income Tax Act, 1961).
17. The Company has not traded or invested in Cryp¬
to currency or Virtual Currency during the financial
year.
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