Independent Auditors’ Report

TO THE MEMBERS OF AKANSHA ESTATE MANAGEMENT SERVICES PRIVATE LIMITED

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of M/s AKANSHA ESTATE

MANAGEMENT SERVICES PRIVATE LIMITED, which comprise the Balance Sheet as at March 31,
2019 and the Statement of Profit and Loss for the year then ended, and a summary of
significant accounting policies and other explanatory information.

MANAGEMENT’S RESPONSIBILITY 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 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
the Companies (Accounts) Rules, 2014. This responsibility also 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; 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
financial statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error.

AUDITORS’ RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account 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.
An audit involves performing procedures to obtain audit evidence about the amounts and the
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 the accounting policies used and the reasonableness of the accounting
estimates made by the Company’s Directors, as well as evaluating the overall presentation of
the financial statements.

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

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 March 31, 2019, and its
Profit/Loss and its Cash Flow for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1.This report does not include a statement on the matters specified in paragraph 3 of the
Companies (Auditor’s Report) Order 2016 (“the Order”), issued by the Central Government of
India in terms of Section 143(11) of the Act, since in our opinion and according to the
information and explanations given to us, the Order is not applicable.

2. As required by Section 143(3) of the Act, we report that:

i. 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;

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 and Profit and Loss and Cash Flow Statement dealt with by this report are
in agreement with the books of account;
iv. in our opinion, the aforesaid standalone financial statements dealt with by this report
comply with the Accounting Standards specified under Section 133 of the Act read with Rule 7
of the Companies (Accounting) Rules, 2014.

v. on the basis of written representations received from the directors as on 31st March, 2019
and taken on record by the Board of Directors, we report that none of the directors is
disqualified as on 31st March 2019, from being appointed as directors in terms of Section
164(2) of the Act.

vi. 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”.

vii. 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, in our opinion and to the best of
our information and according to the explanation given to us:

i. The Company does not have any pending litigation which would impact its financial
position.
ii. The Company did not have any long term contracts including derivative contracts for
which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company.

For and on behalf of Sapna Gupta & Associates

Chartered Accountants

Sapna Gupta
FRN: 025948N
Proprietor
M. No: 526681

Place: New Delhi

Date:03.09.2019
 ANNEXURE TO THE AUDITORS’ REPORT

The Annexure referred to in our report to the members of AKANSHA ESTATE MANAGEMENT
SERVICES PRIVATE LIMITED for the year ended 31st March, 2019.

On the basis of the information and explanation given to us during the course of our audit, we
report that:

1. (a) The company has maintained proper records showing full particulars including
quantitative details and situation of its fixed assets.

(b) As explained to us, fixed assets have been physically verified by the management
at reasonable intervals; no material discrepancies were noticed on such
verification and therefore does not affect the going concern assumption.

2. The company has no inventory.

3. According to the information and explanations given to us and on the basis of our
examination of the books of account, the Company has not granted loans to director
listed in the register maintained under Section 189 of the Companies Act.

4. In our opinion and according to the information and explanations given to us, there is
adequate internal control procedure commensurate with the size of the company and
the nature of its business. During the course of our audit, no major instance of
continuing failure to correct any weaknesses in the internal controls has been noticed.

5. In our opinion and according to the information and explanations given to us company
hasn’t accepted any deposits, from the directives issued by the Reserve Bank of India
and as per the provisions of sections 73 to 76 or any other relevant provisions of the
Companies Act

6. As per information & explanation given by the management, Maintenance of cost

records for the company has not been prescribed by the Central Government under
Section 209(1)(d) of the Companies Act, 2013.

7. (a) According to the records of the company, undisputed statutory dues including
Provident Fund, Investor Education and Protection Fund, Employees’ State
Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise
Duty, cess to the extent applicable and any other statutory dues have generally
 been regularly deposited with the appropriate authorities. According to the
information and explanations given to us there were no outstanding statutory
dues as on 31st of March, 2019 for a period of more than six months from the date
they became payable.

(b) According to the information and explanations given to us, there is no amounts
payable in respect of income tax, wealth tax, service tax, sales tax, customs duty
and excise duty which have not been deposited on account of any disputes.

(c) In our opinion there is no requirement to transfer the amount in investor

education and protection fund in accordance with the relevant provisions of the
Companies Act, 2013 (1 of 2013) and rules made there under within time.

8. The Company does not have any accumulated loss and has not incurred cash loss during
the financial year covered by our audit and in the immediately preceding financial year.

9. Based on our audit procedures and on the information and explanations given by the
management, we are of the opinion that, the Company has not defaulted in repayment
of dues to a financial institution, bank or debenture holders.

10. According to the information and explanations given to us, the Company has not given
any guarantees for loan taken by others from a bank or financial institution.

11. In our opinion Terms Loans were applied for the purpose for which loans were obtained

12. According to the Information and explanation given to us and based on our examination
of the records of the Company, the company has paid/provided for managerial
remuneration in accordance with the requisite approvals mandated by the section 197
read with the Schedule V of the Act.

12. Based on the audit procedures performed and the information and explanations given
to us, we report that no fraud on or by the Company has been noticed or reported
during the year, nor have we been informed of such case by the management.

For SAPNA GUPTA & ASSOCIATES

Chartered Accountants
Firm Registration No. 025948N

Sapna Gupta
Date: 03.09.2019 Proprietor
Place: New Delhi Membership No.: 526681