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Phone: 0512-2366774
CHARTERED ACCOUNTANTS MAHATMA GANDHI ROAD : 0512-2367262
[Link] NO.113 E-mail: pltandon1957@[Link]
KANPUR -208001 pltandon1957@[Link]

To the Members of LRP MOTORS PRIVATE LIMITED

Report on the Audit of the Financial Statements

Opinion
We have audited the financial statements of LRP MOTORS PRIVATE LIMITED (
comprise the balance sheet as at 31st March 2024, the statement of Profit and Loss and the statement
of cash flows for the year then 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
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 principles generally accepted in India, of the
state of affairs of the Company as at March 31, 2024, its Profit, and its cash flows for the year ended on
that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in
nancial Statements section of our report. We are
independent of 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 Companies Act, 2013 and the Rules there under, 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.

Emphasis of Matter
Balances in respect of Trade Payables, Advances Given and trade receivables are taken as shown by the
books of account and are subject to confirmations and consequent adjustments and reconciliation, if
any.
Our opinion is not modified in respect of the above matter.
Other Information

information comprises the informa

to us till the

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 in the audit or otherwise appears to be materially
misstated If, 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. We have nothing to report in this regard.

Responsibility of Management for Financial Statements

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. 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 and presentation of the financial statement that give a true and fair view
and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is r

continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Company or to
cease operations, or has no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole

that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or 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 SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due
to fraud or 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, misrepresentations, or the
override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies
Act, 2013, we are also responsible for expressing our opinion on whether the company has
adequate internal financial controls system in place and the operating effectiveness of such
controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.

and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may
going concern. If we conclude that a material uncertainty exists, we are required to draw

disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
 may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the 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 a 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- This report does not include a statement on the matters specified in paragraphs 3 and 4 of the
Central Government of India in
terms of sub- section (11) of section 143 of the Companies Act, 2013, since the same is not applicable to
the company.

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 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 it appears from our examination of those books.

(c) The Balance Sheet and the Statement of Profit and Loss and the statement of cash flows dealt
with by this Report are in agreement with the books of account.
 (d)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 except our comments given below:

(i) Leave encashment and gratuity is accounted for on payment basis.

(e) On the basis of the written representations received from the directors as on 31st March, 2024
taken on record by the Board of Directors, none of the directors is disqualified as on 31st
March, 2024 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) This report does not include report on the adequacy of the internal financial control over
Financial reporting of the company in terms of clause (i) of sub section (3) of section 143 of
Companies Act, 2013, since the said section is not applicable to the company ; and

(g)
Rule 11 of the Companies (Audit and 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 its
financial statements Refer Note No 23(a) to the financial statements;

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

iii. There were no amounts which were required to be transferred to the Investor Education
and Protection Fund by the Company.

iv.
disclosed in the note no. 15 to the accounts, no funds have been advanced or loaned or
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(s) or entity(ies), including foreign entities
e, that
the Intermediary shall, directly or indirectly lend or invest in other persons or entities

Ultimate
Beneficiaries.
 (b)The Management has represented in note no. 8.1
belief, other than as disclosed in the Financial Statements, no funds have been received by
the Company from any person(s) or entity(ie
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 b
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Based on such audit procedures we have 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 (iv) (a) and (iv) (b) above contain any material
mis-statement.

v. The company has not paid and declared dividend during the year.
vi. Based on our examination which included test checks, the company has successfully
implemented the audit trail functionality (Edit Log) in accounting software used for
maintaining its books of accounts as per the regulatory requirements with effect from 9th
December 2023. Further, during the course of our audit we did not come across
any instance of audit trail being tampered with.

For [Link]& Co
Chartered Accountants

GIRISH KUMAR MITTAL

(PARTNER)
Membership No. 511729

Date: