D. R. MOHNOT & CO. j Chartered Accountants INDEPENDENT AUDITOR'S REPORT To the Members of, Sikar Bikaner Highway Limited Report on the Audit of Financial Statements Opinion We have audited the Accompanying Financial Statements of Sikar Bikaner Highway Limited ("the Company”), which comprise the Balance Sheet as at March 31" 2022, the Statement of Profit & Loss, including the statement of other comprehensive Income, the Cash Flow Statement and Statement of Changes in Equity for the year ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory information. In our opinion and to the best of our information and according to the explanations given to Us, the Financial Statements give the information required by the Companies Act, 2013 (‘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 31" March, 2022, its loss, its cash flows-and changes in equity for the year then ended on that date. Basis of Opinion ‘We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143 (10) of the Act. Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report, We are independent fof the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of india together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled ‘our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for ‘our opinion on the financial statements. Emphasis of Matters: We draw attention to Foot note to Note No. 34 of the financial statement, company has accounted for interest expense (excluding other charges by lenders) on its borrowings based on sanction letter/deed of assignment for restructuring received from the senior lenders/group companies and pursuant to the same interest expense of Rs. 361.17 million has been booked by the company during the current financial year. As stated in the said note the presently the loan agreement with lenders has not been executed, hence the repayments have not started and due.to the same (Refer note no. 12 “e B-1, Nakshtra Pride, C-35 A, Lajpat Marg, C-Scheme, Jaipur -302001 <-> Ph. : (0) 0141- 2379413, 2369885 (M) 9314885575outstanding balances of debts with lenders are not in agreement with the books of accounts. Our report is not modified for the above matter. “Information Other than the Financial Statements and Auditor’s Report Thereon” The Company's Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board's Report including Annexures to Board's Report, Business Responsibility Report, Corporate Governance and Shareholder’s information, but does not Include the financial statements and our auditor's report thereon. The above-referred information is expected to be made available to us after the date of this audit report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. f, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact, Responsibilities of the management and those charged with governance for the financial statements ‘The company’s Broad of Directors is responsible for matters as stated in section 134(5) of the companies act, 20213 (“the act”) with respect to the preparation of these Financial Statements that give a true and fair view of the financial position, financial performance including other Comprehensive Income, Cash flows and Changes in Equity of the company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standard (IND-AS) as specified under section 133 of the Companies Act,2013 (‘the act’). ‘This responsibility also includes 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 adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation & presentation of the financial statements;that give a true and fair view and are free from material misstatements, whether due to fraud or error. In preparing the Financial Statements, management is responsible for assessing the ability of the Company to continue as Going Concern, disclosing, 2s applicable, matters related to going concern and using he going concern basis of accounting unless management either intends to liquidate the company of to cease operations, as has no realistic alternative but todo so. ‘The Board of Directors are also responsible for overseeing the Company's financial reporting process. Audit 1s Responsibilities for the Audit of the Financial Statements Our Objective are to obtain reasonable assurance about whether the Financial Statements as a whole are free from Material Misstatements, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not @ guarantee that an audit conducted in accordance with SA’s will always detect a material Misstatements when It exists, Misstatements can arise from fraud for error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements [As part of an audit in accordance with SA's, we exercise professional judgment and maintain professional skepticism throughout the audit. We also. «Identify and assess the risks of material misstatements of the financial statements, whether due to fraud and error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion, The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. «Obtain and understanding of internal control relevant to the audit 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 and adequate internal financial control systems over financial reporting and the operating effectiveness of such controls. + Evaluate the9 appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. = Conclude on the appropriateness of the management use of going concern basis of accounting and, based on audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company ability continue as a going concern. Our conclusions are based on theaudit evidence obtained up to the date of our auditor's report. However, future events or condition may cause the company to cease to continue as a going concern. + Evaluate the overall presentation, structure and content of financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation, We communicate with those charged with governance regarding, among other matters the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with 2 statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards Report on Other Legal and Regulatory Requirements, 1. As required by the Companies (Auditor’s Report) Order, 2026 (“the Order”) issued by the Central Government of India in terms of Section 143(11) of the Act, we give in “Annexure A" a statement on the matters specified in paragraphs 3 and 4 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 belief were necessary for the purpose of our audit. b) In our opinion proper books of account as required by law have been maintained by the company so far as it appears from the examination of those books. ) The Balance Sheet, the statement of Profit and Loss, the Cash Flow Statement and the statement of changes in Equity dealt by this Report are in agreement with the books of accounts; d) In our opinion, the aforesaid Financial Statements comply with the Indian Accounting Standards specified under sections 133 of the act e) On the basis of written representations received from the directors as on 31° March 2022 taken on record by the board of directors, none of the directors is disqualified as on 31 March 2022 form being appointed as a director in terms of section 164(2) of the Act. f) 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 8”. That report expresses an unmodified8) 4) opinion on the Company's internal controls over financial reporting on the matter as stated therein With respect to the other matters to be included in the Auditor's Report in accordance with the requirements of section 197(16) of the Act, as amended: In our opinion and to the best of our information and according to the explanations given to us, the company has not paid any remuneration to its directors during the year, hence the provisions of section 197 of the Act are not applicable. With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit & Auditors) Rules 2014, in our opinion and to the best of our information and according to the explanations given to us: i. The company has disclosed the impact of pending Litigations on its financial position in Note 30 to the financial statements; ji, The company does not have any long-term contracts including derivative contracts and also as per the Board's estimates, there are no material foreseeable losses, requiring provision under the applicable law or Indian Accounting Standards: ii, ‘There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the company, iv. (@) The Management has represented that, to the best of its knowledge and belief, no funds {which are material either individually or in the aggregate] have been advanced o loaned of invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity ("intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; (b) The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other persons or entities fied 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; jen (c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (i) of Rule 11(e}, as provided under (a) and (b) above, contain any material misstatement. rv. The company has declared no dividend during the financial year, hence reporting under rule 11(f)s not applicable For D.R Mohnot & Co Chartered Accountants FRN ~ 001388C savrablMohnot (Partner) ‘ Place: Jaipur M, No, 412971 Date: 10/06/2022 UDIN: 2241297 AKRNMN864‘Annexure A to the Auditors’ Report ‘The Annexure referred to in our report to the members of Sikar Bikaner Highway Limited (‘the Company’) for the year Ended on March 31* 2022. We report that: wo (iy iv) wy (a) (A) the company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets; (B) The Company has maintained proper records showing full particulars of intangible assets (b) The Company generally conducts physical verification of Property, Plant and Equipment to cover all the assets once every year which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the program, certain Property, Plant and Equipment have been damaged, which now the company indents to sale them as scrap. According to the information and explanations given to us, no material discrepancies were noticed on such verification. (c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no title deeds of immovable properties of the Company are held in the name of the Company, (6) The Company has not revalued any of its Property, Plant and Equipment (including right of-use assets) and intangible assets during the year (e) No proceedings have been initiated during the year or are pending against the Company ‘35 at March 31, 2022 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder (a) In respect of Inventories, the company’s nature of operations does not require it to hold inventories. Consequently clause 3{ii) (a) of the Order is not applicable, (b) The Company has not been sanctioned working capital limits in excess of % § crore, in aggregate, at any points of time during the year, from banks or financial institutions on the basis of security of current assets and hence reporting under clause 3{Ii(b) of the Order is not applicable. ‘According to information and explanations given to us the company has not granted ‘any loans, secured or unsecured to companies, firms, limited liability partnerships or other parties covered in the register maintained under section 189 of the Companies ‘Act, Accordingly sub clauses (a), (b), (c), (d) and (F) of clause 3{ii) of the order are not applicable, ‘According to the information and explanations given to us, the company has .d with the Provisions of Section 185 and 186 of the Companies Act 2013, in respect of loans, investments, guarantees and security as applicable. The company has not accepted any deposits as per the directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant(vi) provisions of the Companies Act and the rules framed there under. Accordingly, clause 3 (v) of the order is not applicable We have broadly reviewed the books of accounts related to items of cost maintained by the company pursuant to Rules made by the Central Government for maintenance of Cost records under Sub- Section (1) of Section 148:of the Companies Act 2013 & we are of the opinion that prima facie the prescribed accounts & records have been made & maintained. We have not made detailed examination of the same. (vii) (2) According to the information and explanations given to us and the records of the company examined by us, in our opinion, the company is generally regular in depositing applicable undisputed statutory dues, including provident fund, ‘employees’ state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, Goods and service tax, cess as applicable to the company during the year. (b) According to the information and explanations provided to us, no undisputed ‘amounts payable in respect of Provident fund, Employees’ State Insurance, Income- tax, Sales Tax, Goods and Service tax, Duty of custom, Duty of excise, Value added tax, Cess and Other Statutory Dues were outstanding, at the year end, for a period of more than six months from the date they became payable as on March 31, 2022. (c) According to the information and explanations given to us there are no dues in respect of service tax or duty of customs or duty of excise or value added tax or Goods and Service Tax or cess which have not been deposited on account of any pute However according to information and explanations given to us, the following dues of income tax have not been deposited by the company on account of disputes. [Name of the | Nature of Dues | Amount (Rs.in | Periodto | Forum where Statute Mn) which the dispute Is | amount pending { relates | income TaxAct | Income Tax | 0.24 AY 2016-17 | CIT (Appeals) | 1961 Demand | (ili) There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income (i) Tax Act, 1961 (43 of 1961} {2} In our opinion and according to the information and explanations given to us, the Company has not started repayment of dues to banks and financial institutions. The Company has not taken funds from Debenture holders and Government. The details of non-payment of Principal and interest thereon at the end of the year to Banks are as under:i) (xi) (Rs. in Million) Period of | Overdue —_| default for Period of Principal overdue Overdue | Default for Repayment as at | principal | Interest as at 31- overdue __Name of Lender 31.03,2022* _| repayment | __03-2022¢ interest Central Bank of India 190.6 | 1-183 138.7 1-183 | Punjab Sind Bank [108.7 11s3__[| 79.0 1-183 ‘Allahabad Bank (Now Indian Bank) 815 1183, 59.3 1.183 Oriental Bank of Commerce (Now PNB) 54.6 (1183, 39.7 1-183 Total 435.40, 316.7 ‘Based on restructuring sanction given by lenders, however the loan agreement is not executed presently hence company has not started repayment as per the sanction. (b) As per the information and explanations provided by the management, the Company has not been declared willful defaulter by any bank or financial institution or government or any government authority. (c) To the best of our knowledge and according to the information and explanations given to us, no diversion of funds for loans previously obtained by the Company has been noticed or reported during the year. (d) The company has not obtained any short term loans during the current financial year, hence reporting under clause 3(ix)(d) of the Order is not applicable. {e) The company has no subsidiaries, hence reporting under clause 3(ix}(e) of the Order is not applicable. (f) The Company has not raised any loans during the year and hence reporting on clause 3{bx)() of the Order is not applicable (a) The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the year and hence reporting under clause 3{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 3(x)(b) of the Order is not applicable (a) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company by its officers or employees has been noticed or reported during the year. 5(i) (xii) (xiv) (xv) (xvi) (wv) (vil) (ix) (b) 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 up to the date of this report. (c) As explained by management, no whistle blower complaints have been received by the company during the current financial year. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi company as defined under section 406 of the Act. ‘Accordingly, paragraph 3(xi) of the Order is not applicable ‘According to the information and explanations given to us and based on our examination of the recdrds of the Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable. (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 for the year under audit, issued to the Company during the year and till date, in determining the nature, timing and extent of our audit procedures. According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into non- cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable. {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 3(xvi)a), (b) and (c) of the Order is not applicable (b) In our opinion and as per the inform: there is one core investment company within the Group (as defined in the Core investment. Companies (Reserve Bank) Directions, 2016) jon and explanation given to us by management ‘The Company has incurred cash losses during the financial year covered by our audit and the 1no cash loss in the immediately preceding financial year. ‘There has been no resignation of the statutory auditors of the Company during the year, (On the basis of the financial ratios, ageing and expected dates of realisation 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 they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability ‘of the Company since restructuring sanction letters have been received: ut Ih: loanagreement has not been executed. We further state that our reporting Is based on the facts, up to the date of the audit report and we' neither give any guarantee nor any assurance that all liabilities falling due within a perlod of one year from the balance sheet date, will get 9 suqeledo ueieew osteo Ap ofp #Uo ey WEED aB2URL OF ‘waweBevew Yau hypmnn y3e ogee ya fe you of pau jou 1 sapUeL 21 gn jauga.e veo ueysere Eupuaeianano} fume pee suej us esa Jo ae xq pu pa J6 oR PosUREGw Bune, Jan eis ssBAUB heElOD ma eoDUBRUNaN eUle 9A Aan ioe zoey ero soso oe ovess's 2021 Wainy popue tok ou 10} quawes jeoueU 840 ued BULLE) SON ‘iasezo arsozHc02s¥n ‘ND (oaLINY AVROHOM BNWHIG BONSoued Bunode ax pa ane paunLimap ‘se yas jo sje as; sap see jovoe ogauenw sau 28.849 lene 8 SNE UE Siese PALEU] BMEAIEP-V Wg 20] UOUTUSu| es EleL oRELEN 2} ene BapMDU UNSW SL ‘wooo wo wo ae TES oFo00 0 50 Teel] : : : Tasks : = oa Coo 0 Taser wo Taek vu $07 haere ove uy anisaye e666 paNs ‘susunasora | ——Baueeq—[awveunanauy aes | Baneaa enum awsruruoy | yess poniy | sssswrvoN sunnonueg Cae ara Toma “sea Kn99) ue jsse jou e uo pabevew s Aint ag se wewsbevew ys hp sAvEduo ag possi oop uy Klsse02u 5] BES UE BALENJOPCL Uo UoYeULOA Jo Uleou a RoEEE ato4 Uo pouee 9 ft {ssa Bupou sess eve ao Seloneu jrsea4oo puna eu Ue potey dr ue Used Sey el BORE UE) eAfeALep-UOU S10, Aur pede sAueduco ou seen ee OY AL 02 ‘Le yee pepUE 286K 2490} ueUaTEG eouENL OM Jo Yed BHO} SEI ‘isszzonchozHutcozg0n NID (OaLINTT AVI BBNWHIE BSSIKAR BIKANER HIGHWAY LIMITED CIN: U45203MH2012PLC: Notes forming part of th 229612 1e Financial Statements for the year ended March 31, 2022 27. Related Party Disclosures As at March 31, 2022 (2) Name of the Related Parties and Description of Relationship [Nature of Relationship IName of Entity [Abbreviation lused IHotsing Entity [Roadstar Infra Investment Trust (we, 22.08.2022) RIT Holding Company ILBFS Transportation Networks Limited (upto 21.03.2022) |ITNL Promoter company of |IL&FS Transportation Networks Limited (w.e. 22.03.2022) |ITNL Investment Manager, {Sponsor & Project IManager [Fellow Subsidia [Elsamex Maintenance Service Limited (upto 21.03.2022) EMS Project Manager of |Elsamex Maintenance Service Limited (w.e.f. 22.03.2022) JEMSL Holding entity TNL Road Infrastructure Development Company Lid (upto _|IRIDCL Fellow Subsidiary 41.03.2022) Ikey Management [Personnel ("KMP") [Yogendra Dhandhadia (CFO) larshad Shaikh (CS) (w.e.f, 22.03.2020) Director [Manish Kumar Satnaliwala (w.e.f 22.03.2022) [Jyotsna Matondkar (w.e. 22.03.2022) [Ashutosh Sharma (w.e.f 22.03.2002) [Sanjay Rane (Independent Director) (wet 28.03.2022) [LV Rajan Kolath (Independent Director) (w.e.t. 29.03.2022) [Rajnish Saxena (Managing Director) (upto 21.03.2022), [Ajay Menon (upio 21.03.2022) IMohit Bhasin (upto 21.03.2022) ‘As at March 31, 2021 (a) Name of the Related Parties and Description of Relationship: (Nature of Relationship [Name of Entity [Abbreviation lused lUtimate Holding Infrastucture Leasing & Finance Corporation Limited IL&FS Compan [Holding Company IL&FS Transportation Networks Limited TENT [Fellow Subsidiary TNL Road Infrastructure Development Company Lid iRIDCL [Fellow Subsidiary [Elsamex Maintenance Service Limited [EMSL key Management Personnel ("KMP") IRajnish Saxena (Managing Director fYogendra Dhandhadia (CFO) {Shweta Chavan (Company Secretany) [Director IMr. Ajay Menon. [Mohit Bhasin (Appointed as on 2470872020)SIKAR BIKANER HIGHWAY LIMITED ‘CIN: U45203MH2012PLC229612 Notes forming part of the Financial Statements for the year ended March 31, 2022 Related Party Disclosures (contd.) Period ended March 31,2022 (0) transactions/ balances with above mentioned related parties (mentioned in note 27 above) Zin [Balance Rit wef 22.03.2022) TNC EMSL TRIDGL Total [Equity share Capital with Premium: 4,240.50 7,240.50 interest Accrued and due 455. 4.55 Retention Money Payable a43 0.43, (Mobilisation Advances (Short-term [Borrowings 2078.12 2078.12 Trade Payables 386 41.78. (Quasi Equity [Transactions [Deputation Cost a.07 4.07 linterest on Loans (Expense) 455 4.55 Reimbursement of Advertisement Exos 741 1.41 [Reimbursement of Insurance Exos 0.07 0.17 0.24 [Reimbursement of Capital cost towards IPunchlist item work. 9.55 3.55 iReimbursement of Change of Scope cost 024 028 [Operation & maintenance cost 716.91 716.91 ‘Year ended March 31, 2024 (a) transactions! balances with above mentioned related pai ties (mentionet din note 27 above) Zin Million [Balance TNC EMSL TRIDEL Total [Equity share Capital with Premiom 1,240.50 1,240.50, linterest Accrued and not due ST 42.33, 42.33, Retention Money Payable 334.18 334.18 [Mobilisation Advances (Short-term) [Short-term Borrowings 38.78 38.78 [Trade Payables 27.55 55.38 [Quasi Eauity 7,586.35 [Director fees payable 7586.35 [fransactions [Deputation Cost 278 278 [Transfer of Fixed Asset” 0.00 [Operation & maintenance cost 116.77 Te77 * Fixed Assets have been transferred from IRIOCL ata price of Rs. 43/- including GSTSIKAR BIKANER HIGHWAY LIMITED. (CIN: U45203MH2012PL.6229612 Notes forming part of the Financial Statements for the year ended March 31, 2022, 28, Commitments for expenditure Zin Million (Paricuiars ‘eatwarch [As at March 34,2022 34,2021 (a) Estimated amount of contrac remaining tbe executed on THe Ta [capital account and not provided for {after adjusting Imoblisation advance. The mobilisation inthe previous half \vear has been adjusted against creditors) (6) Other commitments aa a8 ‘Commitments for contracts remaining to be executed and not provided for Operation and Maintenance Expenditure [Total SEES aT 28. Contingent liabilities Zin Million [Pariculars ‘satMarch [As at March 31,2022 ‘31,2021 Income tax demands contested by ihe Company O7a O74 [Penalty for Delay in Fling Tax Audit Report for AY 2019-20 0.46 0.16, [Penalty for non fling of work Contract Tax Retums for Financial 0.05 05 lyesr 2015-16 and 2017-18 [Sub-Total oa ose [Due to the crcumslances as mentioned in note no 33h) |management is unable to comply with some of the provisions of [companies act 2013 and we are in process to identity the Implications ofthe same and presenty the fnancia! implications of Itrese non complances are unascettaiable. Fallowing financial Implications have been identied by management, which are as Kotows. fa) Penally for non apponiment of Company Secretary Ws. 20516) 50 080 lof Companies Act, 2013 fa) Not canvened the Annual general Meeting Tor The Thancial year oe 2 l20%8-2019 within the prescribed time limit, signing of financial wis '134(8), non-fiing of ING 22, DIR-12 and DPT-3 with ROC ete (SubTour a8 322 [as per the complation carilicate provided by the authoriy 59.56 43.64 [company was required to complete certain work 2 per punch list attached with "Provisional Completion Certificate” Authority has proposed to levy penalty for non completion of certain items in| tne punch list. [Sub-Total ass otal 61.18 ‘Note 1 The IE has proposed to levy penally sper Concessiion Agreement for certain oparation and maintainence (O&M) non compliances (Plantation ete) amounting to Rs. 73714 per day from Novernber 2018 tl compliance of these OAM issues. Company has entered into an OBM Agreement with contractor, wherein, penalty, any is levied by authority fr maintainence deficiency the same willbe recovered fram the Contractor Note 2: The Company has received notice under 37 of Rajasthan Stamp Act for which hearing is yet to be scheduled, 20. Segment Reporting {As the Company engages in business activities pertaining to @ single operating segment, the disclosures requires under the Ind AS on "Segment Reporting” (Ind AS-108) notified under the Indian Accounting Standards Rules, 2015 are not applicable 31. Balance Confirmation Balance of ade payable and other financial Asset are subject to confirmation