Auditor’s

We believe that the audit Report

evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.

Opinion
To
The Partners
In our opinion and to the best of our information and according to the
SHRIRAM
explanationsELECTRICITY
given to us,LLPthe financial statements give the information
required by the Act in the manner so required and give a true and fair
view
Reportin on
conformity with Statements
the Financial the accounting principles generally accepted in
India:
We have audited the accompanying financial statements of Shriram
Electricity LLPcase
a) in the whichofcomprise
the Balancethe Sheet,
Balance of Sheet as at
the state ofMarch
affairs31, 2018,
of the LLP
the statement of Profit & Loss
as at March 31, 2018; and for the year ended on March 31, 2018 and
a summary of case
b) in the significant
of the accounting
statement of policies and loss,
profit and otherofexplanatory
the profit for the
information.
year ended on that date.

Management’s
Report on OtherResponsibility for the Financial
Legal and Regulatory Statements
Requirements
Management
1. We reportis that:
responsible for the preparation of these financial
statements that give
a) We have a true
obtained alland
the fair view of the
information andfinancial position,
explanations which
financial performance of the LLP in accordance with the Accounting
to the best of our knowledge and belief were necessary for the
Standards. Thisof
purpose responsibility
our audit; includes the design, implementation and
maintenance of internal control relevant to the preparation and
presentation of the financial statements that give a true and fair view
and are
b) free from
In our material
opinion misstatement,
proper whether
books of account due to fraud
as required or error.
by law have
been kept by the LLP so far as appears from our examination of
those books.
Auditor’s Responsibility
Our responsibility is to
c) The Balance express
Sheet and an
theopinion on these
statement profitfinancial statements
& loss dealt with by
based onthis Report is in agreement with the books of account. the
our audit. We conducted our audit in accordance with
Standards on Auditing issued by the Institute of Chartered Accountants
of India. Those Standards require that we comply with ethical
d) In ourand
requirements opinion
plan the
andBalance
performSheet and to
the audit theobtain
statement of profit &
reasonable
lossabout
assurance comply with the
whether theAccounting Standards are
financial statements to the
freeextent
from material
applicable.
misstatement.

For BEGANI & BEGANI

An audit involves performing procedures to obtain audit evidence about
CHARTERED
the amounts and disclosures in the financial statements. The procedures
ACCOUNTANTS
selected depend on the auditor’s judgment, including the 010779C)
(FRN: 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 control relevant to the LLP’S preparation and fair
presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. VIVEK
An audit also
BEGANI
includes evaluating the appropriateness of accounting policies
(PARTNER) and
used
the reasonableness of the accounting estimates made by M.management,
No.:403743 as
well as evaluating the overall presentation of the financial statements.
Place: Raipur (C.G.)
Date: 04.05.2018
 SHREE RAM ELECTRICITY LLP
BALANCE SHEET AS AT 31st MARCH 2018
(Amount in Rs.)
Note As at 31-March- As at 31-March-
Particulars 2017
No 2018
ASSETS

(1) Non-current Assets

(a) Property, Plant & Equipment
(b) Capital work-in-progress
(c ) Investment Property
(d ) Other Intangible Assets 1 20,612,640 20,612,640
(e) Intangible Assets under development -
(f) Financial Assets -
(i) Investments -
(ii) Loans -
Other Non- current Assets 236,594
2 236,594 12,451
3 12,451 20,861,685
(g)
20,861,685

(2) Current Assets

(a) Inventories -
(b) Financial Assets -
(i) Investments -
(ii) Trade receivables -
(iii) Bank, Cash & cash equivalents 17,179,821
(iv) Loans 4 17,855,413 -
Other Current Assets 390,145
17,569,966
(c) 5 474,992
38,431,651
18,330,405
39,192,090
TOTAL ASSETS
EQUITY AND LIABILITIES:
Equity
(a) Equity Share capital 6 35,188,206 35,253,369
(b) Other Equity 7 (2,417,466) (3,242,843)
32,770,740 32,010,526

Liabilities
Share application money pending allotment
Non-current Liabilities :
(1)
Financial Liabilities
(a) -
(i) Borrowings
(ii) Other long term liabilities -
Provisions -
Deferred tax liabilities (Net) -
(b) -
Other non current liabilities
(c) -
(d) -
32,010,526

32,770,740

(2) Current Liabilities

(a) Financial Liabilities
(i) Borrowings
-
(ii) Trade Payables
-
(iii) Other financial liabilities
-
Other current liabilities
8,625
(b) Provisions 8 8,850 6,412,500
(c) 9 6,412,500 6,421,125
6,421,350 38,431,651
39,192,090
TOTAL EQUITY AND LIABILITIES
Significant accounting Policies
The accompanying Notes are an integral part of the financial statements. - -

As per our Report of even date

For, BEGANI & BEGANI
Chartered Accountants For Shriram Electricity LLP
FRN: 010779C

(VIVEK BEGANI) (G.K. Chhanghani) (Sourabh Rathi)

PARTNER Authorised Signatory Nominee
M. No. 403743 Sarda Energy & Minerals Ltd Mosh Varaya Infrastructure Ltd
PLACE : RAIPUR (C.G.) Designated Partner Designated Partner
DATED: 04.05.2018
 SHREE RAM ELECTRICITY LLP
Statement of profit and loss for the year ended 31st MARCH 2018

Sl No Particulars Note Year Ended Year Ended

No. 31.03.2018 31.03.2017

I. Other income 10 848,468.00 1,012,510.00

II. Total Revenue 848,468.00 1,012,510.00

III. Expenses:
Finance costs 11 179.17 30.00
Other expenses 12 22,912.00 210,691.00
Total Expenses 23,091.17 210,721.00

IV. Profit before Tax (II-III) 825,376.83 801,789.00

V. Tax expense:
(1) Current tax -
(2) Deferred tax -
(3) Income Tax related to earlier years
(4) MAT Credit Entitlement
-

VI. Profit for the period (IV - V) 825,376.83 801,789.00

VII Total Comprehensive Income for the period 825,376.83 801,789.00

Significant accounting Policies

The accompanying Notes are an integral part of the financial statements.

As per our Report of even date

For, BEGANI & BEGANI
Chartered Accountants
FRN: 010779C For Shriram Electricity LLP

(VIVEK BEGANI) (G.K. Chhanghani) (Sourabh Rathi)

PARTNER Authorised Signatory Nominee
M. No. 403743 Sarda Energy & Minerals Ltd Mosh Varaya Infrastructure Ltd
PLACE : RAIPUR (C.G.) Designated Partner Designated Partner
DATED: 04.05.2018
 SHRI RAM ELECTRICITY LLP
NOTES "1" TO "12" FORMING PART OF THE BALANCE SHEET
Note 1 As at 31st March As at 31st March
2018 2017
Investment Property
(a) Freehold Land - owned (IP) 20,612,640.00 20,612,640.00

20,612,640.00 20,612,640.00

Note 2 As at 31st March As at 31st March

2018 2017
OTHER NON-CURRENT ASSETS
(a) Advances other than capital advances
Unsecured, considered good
- -
(i)Other loans and advances
236,594.00 236,594.00
236,594.00 236,594.00

Note 3 As at 31st March As at 31st March

2018 2017
LOANS - FINANCIAL ASSET
(a) Other loans and advances
Unsecured , considered good
Preliminary Expnediture
12,451.00 12,451.00
12,451.00 12,451.00

Note 4 As at 31st March As at 31st March

2018 2017
Cash & Bank Balance
Balances with banks
In current accounts
20,324.04 108,353.21

(iii) Deposits with bank 17,835,089.00 17,071,468.00

17,855,413.04 17,179,821.21

Note 5 As at 31st March As at 31st March

2018 2017
OTHER CURRENT ASSETS
Advances other than capital advances
Other Advances
(i) Balances with tax authorities
474,992.00 390,145.00

474,992.00 390,145.00

Note 06 As at 31st March As at 31st March

2018 2017
35,188,206.00 35,253,369.00
OTHER EQUITY

Capital Reserve - -

Securities Premium Account

Balance as per last financial statements
Less:- Securities Premium debited on share buy back
Closing Balance
- -
 Note 07 As at 31st March As at 31st March
2018 2017

Surplus in the statement of Profit and Loss

Reserves and Surplus (3,242,842.79) (4,044,631.79)
825,376.83 801,789.00
(2,417,465.96) (3,242,842.79)

(2,417,465.96) (3,242,842.79)

Note 08 As at 31st March As at 31st March

2018 2017
Other current liabilities
(a) Audit Fee Payable 8,850.00 8,625.00

8,850.00 8,625.00

Note 09 As at 31st March As at 31st March

2018 2017
Provisions
Provision for Expenses 6,412,500.00 6,412,500.00

6,412,500.00 6,412,500.00

Note 10 As at 31st March As at 31st March

2018 2017
Other Income
Interest Income 848,468.00 1,012,510.00
Total 848,468.00 1,012,510.00

As at 31st March As at 31st March

Note 11 2018 2017
Finance Costs
Bank Charges 179 30
Total 179 30

As at 31st March As at 31st March

Note 12 2018 2017
Other Expenses
Retainership & Consultancy - 30,000.00
Audit Fee 9,075.00 8,662.00
Filling Fee 13,837.00 172,029.00
Travelling Exp:
LEGAL EXP
Office & General Exp:
Provision for BG Invocation
Pre-operative Exp
Printing & Stationaries

Total 22,912.00 210,691.00

 Tangible assets are
SHRIRAM stated at cost,
ELECTRICITY net of recoverable
LLP: RAIPUR (C.G.) taxes less
accumulated depreciation / amortization and impairment losses if
Notes to Financial
any. Cost Statement
comprises forprice
purchase the year ended
and any 31st Marchcosts
attributable 2018of
bringing the asset to its working condition for its intended use.

1. Nature of Operation
All costs, including administrative, financing and general overhead
expenses, as are specifically attributable to construction of a project or
Shri Ram Electricity has been formed by Sarda Energy & Minerals Ltd.
to the acquisition of a fixed asset or bringing it to its working
(51%), Akshay Ispat Udyog Pvt. Ltd. (26%) and Mosh Varya
condition, is included as part of the cost of construction of project or as
Infrastructure Pvt Ltd.(23%) (earlier known as Chhattisgarh
a part of the cost of fixed asset, till commencement of commercial
Construction Company Private Limited) as a Special Purpose Vehicle to
production.
put up the captive thermal power plant.

Subsequent
2. Basis expenditure
of Preparation related
of Financial to an item of tangible assets is added
Statements
to its book value only, if it increases the future benefits from the
The accounts
existing of beyond
asset the LLP are prepared under
its previously the standard
assessed historical of
cost
performance.
convention using the accrual method of accounting in accordance with
the generally accepted accounting principles in India.
Intangible
Intangible assets
2.1 SIGNIFICANT are carried
ACCOUNTING at its cost,
POLICIES ANDless accumulated
NOTES TO amortization
and
ACCOUNTS impairment losses, if any. All costs, including financing costs
relating to development of intangible assets which takes substantial
a) period
Use of of time to get ready for its intended use are also included to the
Estimates
extent they are incurred, till commencement of commercial
The preparation of financial statements, in conformity with Generally
production.
Accepted Accounting Principles, requires the management to make
estimates and assumptions that affect the reported amount of assets
and liabilities and disclosures of contingent liabilities as at the date of
financial statement and the results of operations during the reporting
d)Preliminary Expenses :
period. Although these estimates are based upon management’s best
knowledge
Preliminary of current events
Expenses and actions,
will be amortized actual
over results
a period of could differ
5 years
from these
starting fromestimates.
the Financial Year from which commencement of
commercial operations of the LLP will begin.

b)Revenue
e) Notes To Recognition
The Accounts
Revenue
1. is imports
Value of recognized to the
on CIF extent
Basis is Rs.that it is probable
Nil (Previous Year:that
Rs.the
Nil)
economic
2. Expenditure in foreign currency is Rs. Nil (Previous Year: Rs. reliably
benefits will flow to the LLP and the revenue can be Nil)
measured.
3. Earnings in foreign currency is Rs. Nil (Previous Year: Rs. Nil)
4. In View of Uncertainty in Future Profits, No Provision for Deferred
tax asset on Unabsorbed Losses as per Income Tax Act has been
providedPlant
c) Property, for in&the books of account. (Previous Year: Rs. Nil)
Equipment
5. The LLP has not received any memorandum (as required to be filed
Tangible
by the suppliers with the notified authority under the Micro, Small
 and Medium Enterprises development Act, 2006) claiming their
status as on 31st March,2018 as micro, small or medium enterprises.
Consequently the amount paid/payable to these parties during the
year is nil.
6. Previous year figures are regrouped and rearranged wherever
necessary.

As per our report of even dated

For, Begani & Begani On Behalf of Shri Ram Electricity LLP,

Chartered Accountants,

(Vivek Begani) (G.K. Chhanghani)(Sourabh Rathi)

Partner Designated PartnerDesignated Partner
M.No. 403743 Authorised SignatoryNominee
Sarda Energy & Minerals Ltd Mosh Varaya Infrastructure LTD.

PLACE: RAIPUR
DATED: 04.05.2018