MANAGEMENT REPRESENTATION LETTER

To,
_____________
Chartered Accountants
Address

This representation letter is provided in connection with your audit of Standalone Financial Statements of
_____________ (the “Company”) for the year ended March 31, 20XX. Standalone Financial Statements comprise
of the Balance Sheet as at March 31, 20XX, the Statement of Profit and Loss and Cash Flow Statement for the year
then ended and a summary of significant accounting policies and other explanatory information.

1. Our Responsibilities

1.1. We have complied with the terms of audit engagement letter dated____ and acknowledge our
responsibility for 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 true and fair view of the financial
position, financial performance (Profit/Loss) and cash flows of the company in accordance with the
requirements of the Act and recognized accounting policies and practices generally accepted in India,
including the applicable accounting standards and for making accurate representations to you. Our
responsibility includes the maintenance of adequate accounting records in accordance with the provisions
of the Act for safeguarding of 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 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 Standalone Financial Statements
that give a true and fair view and are free from material misstatement, whether due to fraud or error.

1.2. We acknowledge that the Financial Statements have been prepared in accordance with Accounting
Standards notified under the Act.

1.3. This representation letter is provided in connection with your audit of the Standalone financial statements
for the year ended March 31, 20XX for the purpose of expressing your opinion as to whether the financial
statements of the company are prepared and presented in accordance with the Accounting Standards
notified under Section 133 of the Act and generally accepted accounting principles.

1.4. We also acknowledge our responsibility for the completeness of information provided to you. These
representations are made to you to supplement the information obtained by you from the books and
records of the Company and to confirm the information given to you orally.

1.5. We are also responsible for ensuring accuracy of records including financial information considered
necessary for the preparation of the standalone financial statements. The Board of Director of the
company are responsible for 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; the selection and application of appropriate accounting policies; making
judgements and estimates that are reasonable and prudent; and the 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
Standalone financial statements that give a true and fair view and are free from material misstatement ,
whether due to fraud or error, which has been used for the purpose of preparation of the standalone
financial statements by us. As aforesaid, our responsibility includes making accurate representations to
you.

1.6. Further, we acknowledge that we have provided you with all relevant information and access as agreed in
the terms of the audit engagement and that all transactions have been recorded and are reflected in the
Standalone Financial Statements.
 1.7. Classification of items in the Balance Sheet as current and non-current is on the basis specified in the
General Instruction for Preparation of Balance Sheet in the Schedule III of 'the Act'. The Company has
determined the normal operating cycle to be of 12 months.

1. Accounting Policies:

1.1. The accounting policies which are material and critical in determining the results of operations for the
year are as set out in Note No. 1 of the Standalone Financial Statements for year ended March 31, 20XX.

1.2. We have reviewed the Company's accounting policies and having regard to the possible alternative
policies, the selection and application of accounting policies are consistent with the Companies Act, 2013
and are appropriate.

1.3. The financial statements are prepared on a going concern basis. We have no plans or intentions that may
materially affect the carrying value or classification of assets and liabilities reflected in the financial
statements.

1.4. The presentation and disclosures in the financial statements, including the notes thereto, have been made
in accordance with the requirements of the Division I of Schedule III to the Act, modified as required by
the Accounting Standards and the provisions of the Act, as applicable. Accordingly, the comparative
figures in the financial statements. including - those in the notes have also been regrouped, reclassified
and disclosed appropriately.

1.5. All events subsequent to the Balance Sheet date and for which the applicable Accounting standards
require adjustment or disclosure have been adjusted or disclosed, and no other circumstances/ events/
matters have come to our attention up to the time of signing this letter, which require adjustment of or
disclosure in the financial statements or in the notes thereto or would materially affect the accounts and
the related disclosures for the year ended March 31, 20XX.

2. Accounting Estimates:

2.1. We used appropriate measurement processes, including related assumptions and models, in determining
the accounting estimate in the context of the applicable Accounting standards.

2.2. Measurement processes were consistently applied from year to year.

2.3. The assumptions appropriately reflect our intent and ability to carry out specific courses of action on
behalf of the Company, where relevant to the accounting estimates and disclosures.

2.4. Disclosures related to accounting estimates are complete and appropriate under the applicable
Accounting standards.

3. Property, Plant and Equipment: (PPE)

3.1. No capital expenditure has been charged to revenue and vice versa. During the year, no physical
verification of PPE has been carried out as per the planned programme.

3.2. Property, Plant & Equipment (PPE) comprises of Tangible assets and Capital Work in progress. PPE are
stated at cost, net of tax/duty credit availed, if any, after reducing accumulated depreciation &
impairment losses, if any, until the date of the Balance Sheet. All purchases/acquisitions and
disposals/write offs of PPE assets during the year have been duly approved by the appropriate authority.

3.3. Title deeds of all immovable properties including those under capital WIP/capital advances are held in
the name of the Company. Further, in case of Building constructed by the Company, the title deeds are
verified by the way of insurance on such building.

Or
 Title deeds/Lease deeds of all immovable properties including those under capital WIP /capital advances
are held in the name of the Company except Title deeds in respect of ______________ having carrying
value (Book value)of ` ______ which are not held in the name of the company.

3.4. The net book value, at which PPE assets are stated in the balance sheet, has been arrived at:
 After taking into account all capital expenditure and additions thereto;
 After eliminating the cost and accumulated depreciation and impairment losses, if any, relating to
items sold, discarded, demolished or destroyed;
 After charging depreciation and impairment losses as per the accounting policy adopted.

3.5. The Company has maintained proper records showing full particulars and quantitative details of the fixed
assets. All assets have been accounted for appropriately. The cost of PPE asset is removed from the block
of assets only after condemnation disposal/demolition of the same is approved by the competent
authority.

3.6. The discrepancies in PPE assets if any, on physical verification have been quantified. The accounting
adjustment for the same is carried out on reconciliation. All the details of the same have been provided to
you.

3.7. All CWIP are capitalized when the same is ready for intended use. Completion Certificate has been
furnished to you during the course of audit. No item of CWIP has been abandoned or discontinued after
the close of the financial year ended March 31, 20XX and till date.

3.8. Depreciation on these PPE commences when the assets are ready for their intended use. Depreciation on
all PPE is provided on straight line method/diminishing balance method in accordance with the
requirements of Schedule II of the Companies Act, 2013.

3.9. Where cost of a part of an asset is significant to total cost of the asset and useful life of that part is
different from the useful life of the remaining asset, useful life of that significant part has been
determined and depreciated separately.
Or
The nature of company’s PPE is of such that separate components having different useful lives are not
separately identifiable and therefore, component accounting is practically not feasible.

4. Intangible Assets and Amortizations

4.1. Intangible assets are recognized only if it is probable that future economic benefits that are attributable to the
assets will flow to the Company and the cost of assets can be measured reliably. The intangible assets are
recorded at cost and are carried at cost less accumulated amortization and accumulated impairment losses, if
any. Intangible assets are amortized over the period of three years.
4.2. Ageing of capital work-in progress and intangible assets under development is accurately extracted from the
books of account. Further, expected date of completion in respect of cost/period overrun intangible assets
under development/capital work-in-progress project is mentioned as per internal assessment of the Company.

5. Commitments

5.1. Commitments are classified as Capital Commitments and Other Commitments.

5.2. At the Balance Sheet date, there were no outstanding commitments for capital expenditure or any other
commitments which are required to be disclosed as per schedule Ill of the Act except those disclosed in
the Note no. _____ to the Financial Statements.

6. Investments
 6.1. Long term Investments are valued at cost except those where there is a decline, other than temporary, in
the value of a long term investment, in which case, the carrying amount is reduced to recognise the
decline. All current investment are shown as lower of cost or fair value.

6.2. All the investments belong to the Company and it does not include any investments held on behalf of any
other person.

6.3. The company has clear title to all its investments. There are no charges against the investments of the
company except those appearing in the financial statements.

6.4. We confirm the completeness of information provided regarding valuation and disclosure of long-term
investments.

6.5. There are no long term and Current investments other than those disclosed in the balance sheet.

6.6. In respect of offers of right issues received during the year, the rights have been either subscribed to, or
renounced, or allowed to lapse. In no case have they been renounced in favour of third parties without
consideration which has been properly accounted for in the books of account.

6.7. The investments sold are not at a price less than that at which they were purchased by the
company/reasonable price/fair market value.
Or
The company has not sold any investments during the year.
Or
The Company has sold its assets that consist of shares, debentures and other securities, at a price lesser
than its purchase price, but not less than the market value. These transactions are not significant at the
scale of the Company.

6.8. The Company has not given any loan, any guarantee or invested in any securities as mentioned under
Section 186 of the Act.
Or
Where the company has given any loan or made any investment or provided any guarantee, or security
exceeding limits prescribed under Section 186 of the Act, prior approval by means of a special resolution
passed at a general meeting has been taken. The Company has disclosed to the members in financial
statements full particulars of such loans given, investment made, or guarantee given, or security provided
and also disclosed purpose and end use of such loans given, investment made, or guarantee given, or
security provided. These loans and advances are not prejudicial to the interest of the Company.

6.9. The Company has held certain part of land and building (define that part) as Investment in immovable
properties. This immovable property is held to earn rentals or for capital appreciation or both. The
Company has appropriately done classification in Investment property and owner occupied property.
Such investment property is recognised and measured in financial statements at cost model same as
mentioned in Property, Plant and Equipment.

6.10. Income arising from such Investment property is appropriately recognised in the books of accounts.

7. Inventories

Value of Inventories as at March 31, 20XX and its basis of valuation are mentioned below:
Class of Inventory Amount in ` Basis of Valuation
Raw Materials (including
components)

Work –in-progress
Finished Goods (Including by-
products)
Stock-in-trade (in respect of goods
 acquired for trading)
Loose Tools
Others (Specify Each major head
separately)

(In describing the basis/bases of valuation, the method of ascertaining the cost (e.g. FIFO, Average Cost) should
also be stated. Similarly, the extent to which overheads have been included in the cost should also be
stated.

8.1 The basis of valuation is/are the same as that /those used in the previous year, except as set out below:
Class of Inventory Basis of Valuation Effect of Change in Basis of Valuation
This Year Last Year
______________ ________ ________ ____________________
______________ ________ ________ ____________________
______________ ________ ________ ____________________

8.2 All goods included in the inventory are the property of the Company, none of the goods are held as
consignee for others or as bailee, and except as set out in the Financial Statements, none of the goods are
subject to any charge or reservation of title, except as stated in the notes to the financial statements.

8.3 In valuing inventory, due consideration has been given to the saleability of the stock. In accordance with
the procedure, obsolete inventory is identified and segregated from live inventory from time to time and
written off. Inventory includes items of stores & spares, which have not moved for 3 years in a specific
unit. Necessary provision has been made in the Accounts unit wise for such items as per policy. Similarly,
provision for non-moving inventories consisting of raw materials, finished goods and semi-finished goods
which have not moved for 1 year in a specific unit has been made in the accounts unit wise.

8.4 The following provisions have been made in respect of excess, slow-moving, damaged, or obsolete
inventories and the same, in our view, is adequate.

Sr. No. Item Qty Value

1. ___________ ____________ __________
2. ___________ ____________ __________
3. ___________ ____________ __________

8.5 Inventories recorded in the books as at ___________ aggregating to Rs. _____are based upon the physical
inventories taken as at _____ by actual count, weight or measurement. The material discrepancies noticed
on physical verification of stocks as compared to book records have been properly dealt with in the books
of account and subsequent transactions recorded in the accounts fairly reflect the changes in the inventories
up to ______________.

8.6 Inventories appearing in the accounts are owned by the Company and do not include goods sold to
customers for which delivery is yet to be made.

8.7 We have disclosed broad heads of consumption, Purchase of traded items, opening and closing stock of
Finished goods, work in progress and traded goods and sales and services on the basis of criteria of 10% of
the total value in each category.

8.8 We confirm:
a) the completeness of information provided regarding the inventory; and
b) adherence to laid down procedures for physical inventory count.

8.9 The Company has maintained adequate records for the inventories lying with third parties. Further, we
have obtained confirmation for the stock lying with such parties.
8. Balances with Bank:

9.1 The following items are appearing in the books as at March 31, 20XX:

Particulars Balance as on March 31, 20XX

Balances with bank in current account
Cash in hand
Bank Deposits

9.2 We confirm that all bank balances which are shown above have been reconciled and balance-confirmation
is obtained from each bank. No material discrepancies have been observed on such reconciliation and there
are no major outstanding cheques.

9.3 All Bank Accounts as appearing in the Balance Sheet as at March 31, 20XX are held in the Company's
name. The Company has also recorded all the Bank Accounts which are opened in the name of the
Company. All cash balances are held in the custody of the Company's officials authorized in this behalf.

9.4 We have recorded or disclosed, as appropriate, all earmarked balances with banks, balances with banks to
the extent held as margin money or security against the borrowings, guarantees and other commitments and
bank deposits with a maturity period up to 12 months and more than 12 months, separately.

9.5 The Bank deposits are in the name of the Company and are physically verified by the management. No
material discrepancies have been observed on such verification. All the above deposits are free from any
lien except the following:
 Deposit held as Margin money for bank guarantee & LC Rs. ________________

10 Cash Balance

In financial statements, cash balance as on March 31, 20XX was Rs. ______ and physically verified and
certified as per the internal policy.

11 Trade Receivables, Loans and Advances

11.1 Trade Receivables, Loans and Advances (including other current assets) as appearing in the books of
accounts as at March 31, 20XX, in our opinion, are good and recoverable except where provision for
impairment is made.

11.2 The ageing of Trade Receivables has been correctly done as disclosed in Note ___. Moreover, the balances
of loans and advances as on March 31, 20XX have been correctly segregated between disputed and
undisputed and between considered good, significant increase in credit risk and credit impaired under
current/Non-current assets.

11.3 Debtors' confirmations have been sought from parties. Wherever such letter of confirmation has been
received, and discrepancy, if any, noticed, is reconciled and is properly dealt with the parties. Balance
confirmation in respect of some of the debtors is awaited. However, the Company does not envisage any
material impact on current year's results on finalization.

11.4 In our opinion, other current assets have a value on realization in the ordinary course of the company's
business which is at least equal to the amount at which they are stated in the balance sheet.

11.5 The employees to whom the loans and advances in the nature of loans are given are repaying the principal
as stipulated and the Company is taking reasonable steps for recovery of the same.

11.6 Advance Tax paid includes amount of Tax deducted at source for which necessary certificates are yet to be
received/ 26AS yet to be updated. We are in the process of collecting these certificates/ensuring 26AS is
updated and the entire amount is considered good and recoverable.
 11.7 All foreign currency assets and liabilities as on the date of balance sheet have been restated at the average
of TT buying and selling rates of SBI as on March 31, 20XX.

11.8 On the date of Balance Sheet, no advances from customers are outstanding for more than 365 days and
wherever such advances exceed 365 days from its acceptance, the Company has complied with all the
compliances according to the Act.

Or
Advances from customers exceeding for more than 365 days are pursuant to long-term contractual
arrangements with customers and they don’t fall in the criteria of deemed deposits u/s 73 to 76 of the Act.

12 Trade Payables
12.1 The company has a policy of seeking confirmations from its creditors in the month of _____/March every
year. Wherever such letter of confirmation is received, it is reconciled with book balance and discrepancy,
if any, is properly resolved by engaging the creditors concerned in the process of proper addressal of the
discrepancy/discrepancies. Upon resolution of discrepancy/discrepancies, the necessary adjustments are
carried out in the books, if required. The Balance confirmations in respect of some of the creditors are
awaited. However, the Company does not envisage any material impact on current year's financial results
on reconciliation/settlement of dues with such parties.

12.2 Further, the details from the vendors have been sought as to whether they are covered under MSMED Act
2006 (as amended from time to time) or not. Based on information obtained, we confirm that payments to
such parties have generally been made within the time frame stipulated under the said Act. There may be
few instances where payments are overdue or were made after the due date. In such cases, the interest for
delayed period has been provided/paid, as the case may be, at the stipulated rate under the MSMED Act
and has been appropriately disclosed in the Financial Statements. (Refer Note No._________ to the
Financial Statements).

12.3 Trade payable ageing mentioned in the financial statement is complete and extracted from books of
account. Further, classification of trade payable into disputed and undisputed trade payable is as per
records of the Company and internal assessment.

13 Liabilities
13.1 We have recorded all known liabilities in the Standalone Financial Statements.

13.2 The Company has not defaulted in repayment of loans/borrowings to financial institutions, banks,
government and debenture holders.

13.3 There are no uncontested demands for Provident Fund / ESI and other statutory dues from the respective
authorities which remain to be paid and/or provided.

13.4 During the year, Provident Fund dues have been regularly deposited with the appropriate authorities.
The Employees State Insurance Scheme is not applicable to the Company.

13.5 All contested legal dues to the extent not provided in the books are shown under contingent liabilities.

13.6 To the best of our knowledge and belief, contingent liabilities disclosed in the notes to the financial
statements do not include any contingencies which are obligations resulting in a loss and therefore,
require adjustment of assets or liabilities.

13.7 The Company has analyzed the cases pending against the company into probable, possible and remote
category and provision has been made for the cases falling under probable category. In respect of the
other categories the same have been included in the Contingent Liabilities.
 13.8 The Company's pending litigations comprise of claims against the Company and proceedings pending
with Tax/ Statutory/Government Authorities. The Company has reviewed all its pending litigations and
proceedings and has made adequate provisions, wherever required and disclosed the contingent
liabilities, wherever applicable in its Financial Statements.

13.9 The Company did not have any long-term contracts including derivative contracts for which there were
any material foreseeable losses.

13.10 To the best of our knowledge and information, we have disclosed in the notes to the financial statements
all guarantees given to third parties and all other contingent liabilities.

13.11 Borrowings for which securities are given by other than company are classified as unsecured and proper
disclosure is made.

13.12 There are no loans/borrowings and/or interest repayable on demand.

Or

Loans/borrowings and/or interest repayable on demand have not been demanded for repayment.

13.13 The Company has not taken any funds from any entity or person on account of or to meet the
obligations of its subsidiaries, associates or joint ventures.

13.14 We have not raised loans during the year on the pledge of securities held in subsidiaries, joint ventures
or associate company.

14 Deferred tax

Net Deferred Tax Liability/Asset for the year of `______ has been recognised in Statement of Profit and
Loss for the year as per the provisions of Accounting Standard 22 –“Accounting for Taxes on Income” as
prescribed under the Companies Act 2013.

15 Provisions tor claims and losses

15.1 Provision has been made in the accounts for all known losses and claims of material amounts.

15.2 All accrued contracted liabilities have been recognised in the Financial Statements.

16 Litigations and claims

16.1 We confirm completeness and adequacy of information provided to you regarding the identification of
litigation and claims, estimates of financial implications, including costs, etc.

16.2 We have provided to you, through In-House legal/other department dealing with key litigations and
claims, necessary information as per your requirements.

16.3 All the litigations and claims whose effects should have been considered in accounts have been
accounted and disclosed according to the financial reporting framework.

16.4 Further, all known instances of non-compliance or suspected non-compliance with all applicable laws
and regulations whose effects should be considered when preparing Standalone Financial Statements
have been disclosed to you. through this letter.
17 Share Capital

17.1 The change in the holding of more than 5% shares in the company, compared to previous year is as
mentioned below:

Particulars As at 31st March,20XX (Extent of As at 31st March,20XX(Extent of

Holding) Holding)

17.2 We confirm there is a/no change in Authorised share capital and paid up share capital compared to
previous year.
17.3 Promoter’s shareholding as mentioned in Note___ to the financial statements, is as per secretarial
records of the Company.

17.4 During the year the cash has been received against allotment of shares.
Or
The company has not received any cash against allotment of shares, however the position as stated in the
account books and the balance sheet is correct, regular and not misleading.

The company has/has not made any preferential allotment or private placement of shares or fully or partly
paid convertible debentures during the under review. The company has complied/not complied with the
provisions of section 42 of the Act and the amount raised has been used/not used for the purpose for which
funds were raised.

18 Company Law Aspects

18.1 To the best of our knowledge and belief, all requirements of the Companies Act, 2013 and rules
thereunder have been complied with. All statutory records have been updated and there are no
transactions, which need to be recorded that have not been recorded in the registers.

18.2 The Company has not accepted any deposits from the public within the meaning of the Act and the rules
made there under or under the directives issued by the Reserve Bank of India.

18.3 To the best of our knowledge and belief there is no contravention during the year of the provisions of
Section 123, 128, 129, 135, 143 (1), 164, 177, 179, 184, 188, 189, 198, and 186 (1) of the Companies
Act, 2013.

18.4 In respect of loans, investments, guarantees and security, provisions of section 185 and 186 (1) of the
Companies Act, 2013 have been complied with.
Or
In case the loans, investments, guarantees or security is provided by the Company in the contravention
of Sec 185 and 186, then the following to be considered in the MRL:

In respect of Loans/ Investments/ Guarantees/ Securities provided, following are the parties to whom the
same is given:
Name Relationship Loan/ Amount Maximum Amount
of (directors/ the person Investments/ involved outstanding outstanding at
Partie in which directors Guarantee/ during the the end of the
s are interested) Securities year year
 18.5 All statutory registers as required under the Companies Act, 2013 have been maintained and updated as
on the Balance Sheet date.

18.6 The company is maintaining cost records as prescribed under section 148 (1) of the Act and the cost
audit for the year _____ has been carried out.

18.7 During the year, the company was required to spend Rs._____________ towards corporate social
responsibility obligations. Accordingly, the company could spend Rs.______________ by way of
_______________________. Further, unspent amount is transferred to separate bank account in
compliance with Companies Act 2013.

19 Statutory Liabilities including Income Tax

19.1 The company is generally regular in paying the statutory liabilities. There are no overdue payments as at
the March 31, 20XX. Further, there are no statutory dues as at year end which have remained outstanding
for more than six months from the date, they became payable. Following are the disputed dues which are
unpaid as at March 31, 20XX:

19.2 Name of the Nature of Amount in Period to which the Forum where pending
statute disputed ` amount relates
dues

There has been no delay in transferring amounts, required to be transferred, to the Investor Education and
Protection Fund by the Company.

19.3 We confirm that there are no other material liabilities which are overdue and unpaid as at March 31, 20XX.

20 Statement of Profit or Loss

20.1 Except as disclosed in the Standalone Financial Statements. the results for the year were not materially
affected by:
a. Transactions of a nature not usually undertaken by the company
b. Circumstances of an exceptional or non-recurring nature.
c. Charges or credits relating to Prior years.
d. Changes in accounting policies.

20.2 All expenses are incurred for Company's lawful business purposes and benefit of the Company.

20.3 To the best of our knowledge and information there are no irregularities in the system of internal control
that could have a material effect on the Standalone Financial Statements, or of any irregularities
involving management or employees who have significant roles in the system of internal accounting
control or any irregularities involving other employees which could have material effect on the
accounts.

20.4 We believe that the actuarial assumptions and methods used to measure gratuity, leave encashment and
other employee benefits and costs, duly reflected in financial statements, are appropriate in the given
circumstances.

20.5 There are no items of income or expenditure exceeding ` 1,00,000/- or 1% of revenue from operations,
whichever is higher, that have not been separately disclosed in the Standalone Financial Statements.

20.6 The systems of the Company are always under continuous monitoring/scrutiny of the technical and
financial persons and its in-built controls are commensurate with the size of the company and nature of
its business.
 20.7 To the best of our knowledge and information, the Financial Statements are free from any material
errors and omissions.

20.8 To the best of our knowledge and information, the Company has generally complied with all aspects of
contractual agreements that could have a material effect on the Financial Statements in the event of non-
compliance. There has been no non-compliance with requirements of regulatory authorities that could
have a material effect on the Financial Statements in the event of non-compliance, or which would
require disclosure in the accounts.

20.9 During the year `_____ has been written off as waiver/write off of debts, loan/interest with the approval
of the competent authority.

20.10 No personal expenses have been charged to revenue other than those payable under contractual
obligations or in accordance with generally accepted business practices.

20.11 All donations/contributions are given with the approval of the Competent Authority.

21 Employee Benefits

21.1.1 All employee benefits i.e., short term, long term and post-retirement benefits that the Company is
committed to providing, including any arrangements that are statutory, contractual or implicit in
the Company's actions, wherever they arise, whether funded or unfunded, contributions made to
approved or unapproved plan/trust, have been identified and properly accounted for and/or
disclosed.

21.2 All amendments, settlements and curtailments in respect of retirement benefit schemes have been identified
and properly accounted for.

21.3 We confirm that we have made you aware of all employee benefit schemes in which employees of the
Company participate.

21.4 We confirm that the actuary appointed is independent and not related to the Company in any manner
whatsoever.

21.5 All the actuarial assumptions have been considered with due care and due diligence.

22 Group company transactions:

There are no material disputes with group companies and to the best of our knowledge and belief all amounts
shown as due to/from group companies are correctly stated.

22.1 In respect of transactions made in the normal course of business, in pursuance of contracts or arrangements
entered into with the related parties, they have been made at Arm's Length price having regard to the
prevailing market prices at the relevant time and are pre-approved by the audit committee as required under
section 177 and 188 of the Companies Act. 2013. Further, there were no other transactions with related
parties during the year which are not carried out at arm’s length basis and are not in the ordinary course of
business which requires approval of the Audit& Ethics Committee/board/shareholders, in accordance with
the Related Party Transactions- Policy & Procedures, 2014.

22.2 The company has not entered into any contracts or arrangements referred to in Section 189 of the
Companies Act which are required to be entered in the register.

22.3 The Company has not granted loans (secured/unsecured) to parties covered in the register maintained under
section 189 of the Act.
 22.4 The Company has not granted loans and advances on the basis of security by way of pledge of shares,
debentures and other investments.

22.5 All the parties to whom loans have been given are generally repaying the interest and the principal as per
terms and conditions of the loan agreement, the Company is monitoring the same and is taking the required
steps for recovery of the same.

22.6 The terms and conditions on which the Company has given guarantees for loans taken by others from
banks or financial institutions are not prejudicial to the interest of the Company, since these guarantees are
given for the subsidiaries/company promoted by the Company.

23 Directors

23.1 The Company has not entered into any non-cash transactions with directors or persons connected with him.

23.2 The terms and conditions of appointment of all the whole time Directors are normally identical except for
their pay scale.

24 Related party transactions:

We have disclosed to you the identity of the company's related parties and all the related party relationships and
transactions of which we are aware.

24.1 Related party relationships and transactions have been appropriately accounted for and disclosed in
accordance with the requirements of the applicable Accounting standards.

24.2 The transactions with related parties have taken effect on arm's length basis.

24.3 We have disclosed all related party transactions relevant to the Company and that we are not aware of any
other such matters required to be disclosed in the financial statements whether under Accounting Standard
18 - Related Party Disclosures. We confirm that we have identified and disclosed to you all persons having
significant influence over the Company, all members of key Management and close members of such
person's families who are related parties, as defined by Accounting Standard 18 - Related Party Disclosures
and included their remuneration in the disclosures of key Management compensation. We also confirm the
completeness of information provided regarding the identification of related parties and transactions
entered into with the related parties.

24.4 The particulars of contract or arrangements covered under Section 184(2) and Section 188 of the Act, that
need to be entered in the register maintained in pursuance of Section 189 of the Act have been so entered.
The list of such companies, firms and other parties, which are considered related parties under the Act, as
made available to you is complete. All transactions with related parties, including for purchase of goods
and materials and sale of goods, materials, services and others, which are not covered under Section 188(1)
of the Act, have been entered into by the company in its ordinary course of business and have made at
prices which are at arm's length basis and considered reasonable having regard to prevailing market prices
for such goods, materials, or services or the prices at the relevant time and/or at which transactions for
similar goods or services have been made with other parties. The transactions with related parties entered
into by the Company are in compliance with the requirements of Sections 177 and 188 of the Act.

25 Derivatives
Company has not entered into any derivative transactions during the year.
The Company has entered into derivatives (_________type of derivative). The derivatives are accounted for in
compliance with applicable accounting standards and ICAI pronouncements.

26 General

26.1 The Company is not dealing in or trading in shares, securities, debentures and other investments.
 26.2 There are no funds raised on a long-term basis from financial institutions or/and raised by way of Initial
Public Offer (IPO) or Further Public Offer (FPO) (including debt instrument) during the year.

26.3 We confirm that the term loans raised during the year have been applied for the purpose for which they
have been raised.

26.4 We confirm that the funds raised on short term basis have not been utilized for long term purposes.

26.5 The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934.

26.6 We have no plans or intentions which may materially affect the carrying value or classification of assets
and liabilities reflected in the Financial Statements.

26.7 We have not received any whistle blower complaints during the year.

26.8 We confirm that other information as mentioned in Director’s report, Management discussion and analysis,
financial highlights, secretarial audit report and corporate governance reports, is complete and consistent
with financial statements and other records of the Company.

26.9 We represent that we are compiling other information to be included in annual report and it will be
submitted to you before issuance of annual report.

27 Fraud

27.1 We acknowledge our responsibility for the design, implementation and maintenance of internal controls to
prevent and detect fraud and error.

27.2 We hereby declare that we have disclosed to you, the results of our assessment of the fraud risk which may
have the effect of material misstatement in the Financial Statements.

27.3 The management is fully apprised of its responsibility for proper disclosure of frauds. All significant facts
relating to frauds, if any or suspected frauds known to management have been properly disclosed. No fraud
on or by the Company have been noticed or reported during the year.

28 Uncorrected Misstatements:

We confirm that there are no uncorrected misstatements which are material to the Financial Statements as a whole.

29 We confirm that the managerial remuneration paid to / provided for in the books is in accordance with the
approvals mandated by section 197 of the Act.

30 Significant events during the year:

If there are any such events and if the MRL is to be taken for the same, then shall be added here.

31 We confirm
a. The Company has no transactions with the companies struck off under Companies Act, 2013.
b. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(i) 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
(ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries
(iii) The Company has not received funds from any person(s) or entity(ies), including foreign
entities (“Funding Parties”), 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.
 c. There is no income surrendered or disclosed as income during the current or previous year in the tax
assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.
d. The Company has not traded or invested in crypto currency or virtual currency during the current or
previous year.
e. The Company has not revalued its property, plant and equipment or intangible assets during the current
or previous year.
f. No proceedings have been initiated on or are pending against the Company for holding benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made
thereunder.
g. The Company have not been declared wilful defaulter by any bank or financial institution or
government or any government authority.
h. The Company has not entered into any scheme of arrangement which has an accounting impact on
current or previous financial year.
i. The Company has complied with the number of layers prescribed under the Companies Act, 2013.
j. The Company has filed quarterly returns or statements with the banks in lieu of the sanctioned working
capital facilities, which are in agreement with the books of account other than those as set out below:

Amount as Amount as
per books reported in
Particulars Amount of Reason for
of account the
Quarter Name of bank of Securities difference material
quarterly
provided (₹ in Lakh) discrepancies
(₹ in return/
Lakh) statement

32 The Board, duly taking into account all the relevant disclosures made, has approved these Financial Statements
in its meeting held on _______.

For _________________

Managing Director/ Director/CFO

Place:
Date: