C.A. Ashok T, Upadhyecell: 09322 875867 Tel: off: 0222745 1544 E mall: atupadhye @yahoo co i A.T. Upadhye& Co. CHARTERED ACCOUNTANTS B/1, Rahul Appartments, Opp. KeshaySmrutiPatpedhi, Shivaji Road, Panvel 410 206, Navi Mumbai, Dist, Raigad INDEPENDENT AUDITOR'S REPORT To the Members of PD INFRAPROJECT PRIVATE LIMITED,, Report on the Financial Statements We have audited the accompanying financial statements of PD INFRAPROJECT PRIVATE LIMITED, (the Company”), which comprise the Balance Sheet as at March 31, 2018, 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 Management's Responsibility for the Financial Statements the Company's Board of Directors is responsible for the matters 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 the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the 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 control, 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 tree from material misstatement, whether due to fraud or error.ditors’ Responsibility ur responsibility is to express an opinion on these financial stotements based on our audit. We fave taken into account the provisions of the Act, the eccounting end auditing stendards 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 ang 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 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 financiel control relevant to the Company's preparation of the financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by 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 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 principies generally accepted in India; a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2018; b) in the case of the Statement of Profit and Loss, of the profit for the year ended on that date and ©) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date Report on Other Legal and Regulatory Requirements 1, As required by the Companies (Auditor's Report) Order,2016 ("the Order”) issued by the Central Government of India in terms of subsection (11) of section 143 of the Act, we give in the Annexure a statement ort the matters specified in the paragraph 3 of the Order, to the extent applicable 2. As required by section 143(3) of the Act, we report that: a) We have sought and obtained all the information and explanations which to the best of our knowledge and beliet were necessary for the purposes of our audit b) 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°° 4) e) ) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of accounts. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 On the basis of written representations received from the directors es on 31 March, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on 3 March, 2018, from being appointed as a director in terms of Section 164(2) of the Act, The Company hes adequate internal financial control in place and such control are effectively operative in the Company. For A.T.UPADHYE & CO ee ASHOK T UPADHYE Dated : 06/08/2018 Panvel Navi Mumbai, Membership no. 035277 Firm No.111175WP DINFRAPROJECT PRIVATE LIMITED, Annexure to the Auditors’ Report The Annexure referred to in our report to the members of P D INFRAPROJECT PRIVATE LIMITED, for the year Ended on 31° March 2018. We report that: » ny a) b) my Iv) v) vy a) b) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. In our opinion, these fixed assets have been physically verified by the management at reasonable intervals, having regard to the size of the company and the nature of its assets No material discrepancies between the book records and the physical inventory were noticed During the year, in our opinion, a substantial part of the fixed assets has not been disposed of by the Company. The inventory of the company has been physically verified by the management during the year at reasonable intervals In our opinion and eccording to the information given to us, the procedures of physical verification of inventory followed by the management were found reasonable and adequate in relation to the size of the company and the nature of its business On the basis of our examination of records of inventory, in our opinion, the company hes maintained proper records of inventory and the discrepancies noticed on physical verification between the physical stocks and the book records were not material in relation to the operations of the company. In our opinion and according to the information and explanation given to us during the course of audit, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory, fixed assets and with regard to the sale of goods and as such no external party being eppointed as intemal auditor. During the course of our audit, no major weakness has been noticed in the internal controls. According to information and explenations given to us, the Company has not accepted any deposit from the public. Accordingly clause (v) of the Companies (Auditor's Report ) Order 2016 is not applicable to it, Central Government has not prescribed maintenance of cost records under clause (d) of subsection (1) of section 148 of the Companies Act, 2018 in respect of products of the Company and hence no comments are warranted in respect of those. According to the records of the company, the company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax, sales-tax, Service Tax and other statutory dues applicable to it, According to the records of the company, no undisputed amounts payable in respect of income tax, sales-tax, Service Tax which have not been deposited as at 31.03,2018 for a period of more than 6 months from the date they became payable. On the basis of our examination of documents and records of the company and as per the information and explanations given to us upon our inquiries in this regard we are of the gpinion that there are no dues of sales tax, income tax. service tay . which have not bean deposited on account of any dispute,a vi) vin 3) x» x!) On the basis of our examination of documents and records of the company and as per the information and explanations given to us no amount is required to be transferred to investors education and protection fund ‘The Company does not have any accumulated losses. Company has also not incurred cash losses during the financial year covered by our audit as well as in the immediately preceding financial year. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to a financial institution, bank or debenture holders The Company has not given any guarantee for loans taken by others from Bank or Financial Institutions. Accordingly requirements of clause 10 of the Companies (Auditor's Report) Order, 2016 are not applicable to the Company. In our opinion, the term loans raised by the Company during the year has been applied for the purpose for which it was raised According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit, For A.T.UPADHYE & CO ES ASHOK T UPADHYE (proprietor) Membership no. 035277 Firm No.111175W Panvel Date : 06/08/2018PD INFRAPROJECTS PVT LTD SECTOR NO - 1. ROAD NO & PLOT NO - 12, NEW PANVEL NAVI MUMBAI RAIGAD MAHARASHTRA - 410206 Balance Sheet as at_31 March, 2018 Particulars No. As at 31.03.2018 | As at 31.03.2017 8. |Current Liabilities (a) Short Term Borrowings: 4 80,775 (b) Other Current Liabilities 5 21,800 60,000 l(c) Short Term Provisions 6 - - |Non Current Assets ao meena : : : (b) Long term Loan & Aadvances 8 = (d) Short-term loans and advances Ww - - (e) Other Current Asset 12 = In terms of my report of even.date For and on behalf of the board ae TD. =e A= ‘AT. Upadhye\® Co. Director Director (CHARTERED ACCOUNTANT) Membership No: 035277 Place: PANVEL Dated; 06th, day of August, 2018P D INFRAPROJECTS PVT LTD FLAT NO. 3, PLOT NO. 154, SHANTI CENTRE, MCCH SOCIETY PANVEL, RAIGAD, MAHARASHTRA - 410206 Stotement of Profit & Loss For the Year Ended 31st March, 2018 = tae RRS aRTEcULARs note [yaarenod teh] Veer Praca HoT ore sa) Tacoma fs oncrtnane is : Total revenue (A) : ~ — (0) enmaye Ben apes 2 : : (0) aurora 8 Over Boenses is 102.575 7500 Total expenses (B) 102,575 7,500 Profit Gotore Txaton(A-8) [aaa] Profit (Lass) or the pests Tae oem Se NaS Ga TT Ip terms of my report of even date For and on behalf of the board re D. PVT. LTD. S . i ssf "Oisor —~ A. T. Upadhye & Co. eS arereD Retour) COB — Director Memborship No: 035277 Place: PANVEL Dated: 6th. day of August, 2018.$F PD INFRAPROJECTS PVT LTD ‘Notes to Financial Statements for the year ended March 31, 2018 Note -1 Significant Accounting Policies a m of As ji The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as emended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention of accounting on the assumption of going concern concept and in accordance with accounting standards as specified by the Institute of Chartered Accountants of Indie. b. Presentati. isclosu | stat during the year ended 31 March 2018, the revised Schedule VI notified under the Companies Act 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not impact recognition and measurement principies followed for preparation of financial statements However, it has significant impact on presentetion and disclosures made in the financial statements, The company has also reclassified the previous year figures in accordance with the requirements applicable in the current year. ©. Use of estimates The presentation of financial statement in conformity with the Indian GAAP requires estimates and assumptions to be made that affect the reported amount of assets end liabilites on the date of the financial stetements and the reported amount of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognised in the periad In which the resuits are known/materialised 4, Revenue Recognisation Items of Income/Expenciture are recognised on acctual besis and on mercantile basis.Provisions are made for all known losses and liabilities. Inventories Inventores are stated at cost price or NRV, whichever is lower and hes been taken in these account as certified by the management. *. Employes ite Short Term Employee Benefits are recognised as an expense at the undiscounted amount in the profit ‘end loss account of the year in which the relates services is rendered. There are no Pest Employment and Long Term Benefits payable to the employees, 9. Tax Provision $ Provision for Current Tax is méide on the basis of estimated taxable Income for the current accounting year in accordance with the Income Tax Act,1961. Minimum Alternate Tax (MAT) paid ina year is charges to the statement of Profit and Loss as current tax. h. Earnings per Share a The Company reports basic earnings per share (EPS) in accordance with Accounting Standard AS-20 on ‘Earnings per Share’. Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of equity shares outstanding during the year. |, Other Accounting Policies ‘These are consistent with generally accepted accounting principles,Oe PD INFRAPROJECTS PVT LTD FLAT NO. 3, PLOT NO. 154, SHANTI CENTRE, MCCH SOCIETY PANVEL, RAIGAD, MAHARASHTRA - 410206 Note-2 (Amount in Re) Sat [Share Capital 31.03.2018 | _As at 31.03.2017 JA. Authorised 50,000 Equity Shares of ° 10/- Eecn 500,000 500,000.00 500,000 500,000.00 ued, Subscribed & Paid Up Captial 15,000 Equity Shares of ~ 10/- Each 150,000 150,900.00 150,000 150,000.00 . Statement of Reconciliation of equity shares ou inning the en repo: period: Particulars Current Year Previous Year ] [ We. of Shares No. of Shares Joutstancing atthe Beginning oF the ieee onde: 15,000 is0.000 00 |Add. Issued During the year = 2 15,000 | 750,000 15,000] 150,000.00 Less: Bought Back During the year - - [oustanding at the year end 15,000 150,000 35,000 150,000.00 . Right ren uit The company has anly one class of shares referred to as equity shares heving a par value of * 10/- per share.Each holder of eaulty shares fs entitied to one vote per share. The dividend, f any praposed by Beard of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining asse*s of the company, after distribution of all the preferential amounts. The distribution wil be in proportion to the number of equity shares eld by the shareholders. £. Details of Equity shares held by each shareholder holding more than 5% shares: Current Year Previous Year Name OF Shi fers larehotai ‘No. of Shares | % of holding | Wo. of Shares of holding Equity Shares @1/- Each | Prsthad D Deshmukh 10,000 60.67%| 10,000 65.57%6| Manesh Dhore 5,000 33.33%] 5,000 33.33%| 75,000 15,000eer Short-term loans and advar [Advances to Creditars As at 31.03,2018 As at 34.03,2017 Note=1z [Other Current Asset ito the extent not woth Deferred Revenue Expenditure Proliminary Expense As at 31.03.2018 As at 34.03.2017 Nete-a3 Revenue From Operation Gross Salesy Receipts As at 31.03.2018, ‘As st 31.03.2017 Note -i4 Other Income Ront Received As at 31.03.2018 = As at 31.03.2017 IChanaes in Inventories of st inventories(at Commencement) sslnyentoies( Closing stock) [Rote=as ‘as at 34.03.2088 | Asat 34.03.2037 Purchase of stock in trade A ASR purchases I = ==] [Note -16 TT As at 31.03.2018 As at 31.03.2017 Directors Remuneration salaries & wages Empl: ae s AS at 31.03.2018 | As at 31.03.2017 Employee Benefit Expense: =Professional Fees OF Earlier Years As at 34.03.2018 ‘As at 31.03.2017 80,775.09 ROC Professional Fees 0,000.00 Jauctor's Remuneration Statutory audi Foes 11,800.00 7,500.00 t 10257500 T0000 [Note a5 [Basic Earning Per Shares Profit after Tex Less: Preference Tax & Dividend Profit Available to equity shareholders (A) Weighted Avg. No. of shares useé for calculating Basic EPS (8) basic EPS X=A/8 (Face Value ~10/- each; As at 31.03.2018, As at 31.03.2017 102,575.00 102,575.00 15,000.00 7,500.00 7,500.00 15,000.0015 Related Party Transactions ‘AS Der Accounting Standard 18, the disclosures of transactions with the related parties are given below. ASA List of Related parties where control exists and related parties with whom transactlans have taken place and relationships [Name of the related party Relationships ralhad B Deshmukh key Managerial Personnel KMP) Nanesh Dhore Key Managerial Personnel( KMP) 15.2, Transactions during the year with related parties Nature of Transactions KMP ‘Others Totar Director's Remuneration 16 in the opinion of Management and to the best of their knowledge and bellef the value of realisation of Loans, Acvances and Current Assets in ordinary course of Business will not be less than the amount for which they are stated in the Balance Sheet. 17° The previous financial year's figures have been reworked, regrouped and reclassified to the extent possible, wherever necessary to conform te current yeer presentation 38 The Company is 9 Small and Medium Sized Company (SMC) es defined in the General Instructions in respect of Accounting Standard rotified under the Companies Act, 2013. Accordingly, the Company hae complied with the ‘Accountina Standards as anplicable to a small and medium sized combeav. 19 other information: NA, For and on behalf of the board P.D. INFRAPROJECT PVT.LTD. pireetor ctor Membership No: 035277 Place: PANVEL Dated: 06th. day of August, 2018