40 (viii) There were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year. (ix) The Company has not taken any loans or other borrowings from any lender. Hence reporting under clause (ix) of the Order is not applicable to the Company. (x) a) The Company has not issued any of its securities (including debt instrument) during the year and hence reporting under clause (x)(a) of the Order is not applicable. b) During the year the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause (x)(b) of the Order is not applicable to the Company. (xi) a) To the best of our knowledge, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year. b) To the best of our knowledge, no report under Sub-section (12) of section 143 of the Companies Act has been filed in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year and upto the date of this report. c) As represented to us by the Management, there were no whistle blower complaints received by the Company during the year and upto the date of this report. (xii) The Company is not a Nidhi Company and hence reporting under Clause (xii) of the Order is not applicable. (xiii) In our opinion, Company is in compliance with Section 177 and 188 of the Companies Act, where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the Financial Statements etc. as required by the applicable accounting standards. (xiv) a) In our opinion, the Company has an adequate internal audit system commensurate with the size and the nature of its business. b) We have considered the internal audit reports issued to the Company during the year and covering the period upto (March 2024 to September 2024) and the draft of the internal audit report where issued after the balance sheet date covering the period October 01, 2024 to February 28, 2025 for the period under audit. (xv) In our opinion, during the year, the Company has not entered into any non-cash transactions with its Directors or Directors of the holding, subsidiary or associate company or persons connected with them and hence provisions of Section 192 of the Companies Act 2013 are not applicable. (xvi) a) In our opinion, the Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Hence, reporting under Clause (xvi)(a), (b) and (c) of the Order is not applicable. b) In our opinion, the Group does not have any core investment company {as defined in the Core Investment Companies (Reserve Bank) Directions, 2016} as part of the group and accordingly reporting under clause (xvi)(d) of the Order is not applicable. (xvii) The Company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. (xviii) There has been no resignation of the Statutory Auditors of the Company during the year. (xix) On the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the Financial Statements and our knowledge of the Board of Directors and Management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report indicating that Company is not capable of meeting its liabilities existing at the date of Balance Sheet as and when
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