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Jindal Steel & Power Ltd(Industry :   Steel - Sponge Iron)
 
BSE Code:532286NSE Symbol: JINDALSTELP/E  (TTM): 0
ISIN Demat:INE749A01030Div Yield %:0EPS   (TTM) :0
Book Value (Rs):233.014794Market Cap (RsCr):22920.27Face Value (Rs) :1
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TO THE MEMBERS OF JINDAL STEEL & POWER LIMITED

Statements Report on the standalone Ind AS financial

We have audited the accompanying standalone Ind AS financial statements of JINDAL STEEL & POWER LIMITED ("the Company"), which comprise the Balance Sheet as at 31st March, 2017, the Statement of Profit and Loss (including other comprehensive income), the Cash Flow Statement for the year then ended and the statement of changes in equity for the year then ended and a summary of the significant accounting policies and other explanatory information (herein after referred to as "standalone Ind AS financial statements").

Management's Responsibility for the standalone Ind AS Financial Statements

The Company's Board of Directors is responsibleforthematters statements. We believe that stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone Ind AS financialstatements that give a true and fair view of the financial position, financialperformance 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 Standards (Ind AS) prescribed under Section issued thereunder. This responsibility also includes 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; statements and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone Ind AS financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards 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 underSection143(10) oftheAct. (11) of section 143 of the Act, and require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone Ind AS financialstatements are free from material misstatement. agraphs 3 and 4 of the Order

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone Ind AS financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the standalone Ind AS financial statements, whether due to fraud or error. In making those risk assessments, control relevant to the the auditor considers internal financial Company's preparation of the standalone Ind AS financial that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the standalone Ind AS financial the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone Ind AS financial statements.

Basis of Qualified Opinion:

We draw attention regarding impact on the net carrying value of fixed assets/investment made in mining assets not been considered for the reason stated in the Note 133oftheActreadwithrelevantrules No. 58 to the standalone financial statements of the company for the year ended 31st March 2017 and the management's view about additional levy paid of amounting to Rs 1,274.46 crore (being differential amount between Gross and Net) as stated in the Note No. 57 to the standalone financial selection of the Company for the year ended 31st March 2017, which shown as good and recoverable.

Qualified Opinion controls,thatwereoperatingeffectivelyforensuring the

In our opinion and to the best of our information and according to the explanations given to us, except for the effects/ possible effects of our observation stated in "Basis of Qualified Opinion paragraph" above, the aforesaid standalone Ind AS 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 including the Ind AS, of the state of affairs (financial position) of the Company as at 31st March, 2017, and its loss (financial performance including other comprehensive income/loss) ), its cash flows and the changes in equity 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 on terms of sub-section the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us during the course of audit, we give in the Annexure ‘A' a statement on the matters . specifiedinthe

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 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, the Statement of Profit and Loss, including other comprehensive income, the Cash Flow Statement and statement of changes in equity dealt with by this Report are in agreement with the books of account.

(d) In our opinion, except for the effect / possible effect matters described in ‘Basis of Qualified Opinion' above, the aforesaid standalone Ind ASfinancial statements comply with the Accounting Standards specifiedunder Section

133 of the Act, read with relevant rule issued thereunder.

(e) The Matters described in ‘Basis of Qualifiedopinion' paragraph above in our opinion, may not have an adverse effect on the functioning of the Company.

(f) On the basis of the written representations received from directors as on 31st March, 2017 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2017 from being appointed as a director in terms of Section 164 (2) of the Act.

(g) As required by section 143(3)(i) of the Companies Act, 2013, and based on the checking of the books and records of the

Company as we considered appropriate and according to the information and explanations given to us, our separate with respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls is as per Annexure ‘B'.

(h) With respect to the other matters to be included in the

Auditor's Report in accordance with 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 standalone Ind AS financial statements refer Note no. 41 to the standalone Ind AS financial statements.

ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long term contracts including derivatives contracts. the iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and ProtectionFund by the Company.

iv. The company had provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8th November, 2016 to 30th December, 2016 and these are in accordance with the books of accounts maintained by the company. Refer Note No. 15 to the standalone Ind AS financial statements.

Annexure "A" referred to in paragraph 1 under the heading "Report on other legal and regulatory requirements" of our report of even date on the Standalone Financial Statements of JINDAL STEEL & POWER LIMITED for the year ended 31st March 2017

1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The Company has a regular programme of Physical Verification of its Fixed assets by which fixed asset been verified by the management according to the programe of periodical physical verification in a phased manner which in our opinion is reasonable having regard to the size of the Company and the nature of its fixed on such physical assets. The discrepancies noticed verification were not

(c) According to the information and explanationsgiven to us and on the basis of our examination of the records of the Company, the title deeds of immovable properties included in fixed assets are held in the name of the Company.

2. The inventories of the Company [except stock lying with the third parties (read with footnote of Note no. 55 (a)) and in transit], part of stores and spares, have been physically verified by the management at reasonable intervals. In our opinion, the procedures of physical verification of inventory followed by the Management are reasonable in relation to the size of the Company and nature of its business. The discrepancies noticed on such physical verification of inventory ascompared tobook to the extent records were not material.

3. The Company has not granted any loans, secured or unsecured to companies, firms or other maintained under section 189 of the Companies Act, 2013.

4. According to the information, explanations and representations provided by the management and based upon audit procedures performed, we are of the opinion that in respect of loans, investments, guarantees and security, the Company has complied with the provisions of the Section 185 and 186 of the Companies Act, 2013.

5. In our opinion and according to the information and explanationsgiven to us, the Company has not accepted any deposit from the public within the meaning of the directive issued by the Reserve Bank of India and the provisions of Section 73 to76 of the Act or any other relevant provisions of the Act and the rules framed there under (to the extent applicable). We have been informed that no order has been passed by the Company Law Board or NationalCompany Law Tribunal or Reserve Bank of India or any Court or other Tribunal in this regard.

6. . We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central

Government for the maintenance of cost records under section 148(1) of the Act in respect of the Company's products to which the said rules are made applicable and are of the opinion that prima facie, the prescribed records have been made and maintained. We have, however, not made a detailed examination of the said records with a view to determine whether they are accurate or complete.

7. (a) According to the records of the Company, the Company is regular in depositing undisputed statutory dues including provident fund, employees' state insurance, income tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues with the appropriate authorities and there are no undisputed statutory dues payable for a period of more than six months from the date they become payable as at 31st March, 2017 except coveredintheregister electricity duty / cess 1.65 crore, CST Rs 4.66 crore, VAT Rs 5.93 crore, Royalty Rs 0.86 crore, TDS/TCS Rs 1.04crore, Development & Env. Tax Rs 0.78 crore, service tax Rs 0.21 crore, Excise duty Rs 0.12 crore & Professional tax Rs 0.01 crore.

(b) According to the records and information & explanations given to us, the dues in respect of income tax, service tax duty of customs, duty of excise, sales tax and value added tax thathavenotbeendepositedwiththeappropriateauthoritieson account of any dispute and the forum where the dispute is pending are given below: -

Name of Statute Nature Of Dues Amount (Rs crore) Period to which amount relates Closing Forum where dispute is pending
1 The Income Tax Act, 1961 Income Tax 921.16 FY 2004-05 to FY 2010-11 Income Tax Appellate Tribunal, New Delhi
2 The Income Tax Act, 1961 Income Tax 350.08 FY 2007-08 to FY 2008-09 Punjab & Haryana High Court, Chandigarh
3 The Income Tax Act, 1961 Income Tax 42.26 FY 2003-04 to FY 2004-05 Punjab & Haryana High Court, Chandigarh
4 Central Excise Act, 1944 Excise Duty 100.43 FY 2001-02 to FY 2013-14 CESTAT – Delhi
5 Custom Act, 1962 Custom Duty 13.98 FY 2013-14 CESTAT – Hyderabad
6 The Finance Act, 1994 Service Tax 9.78 FY 2003-04 to FY 2010-11 CESTAT – Delhi
7 The Finance Act, 1994 Service Tax 0.41 FY 2011-12 to FY 2015-16 Additional Commissioner, Raipur
8 Tamil Nadu Sale Tax Act State Sales Tax 0.72 FY 2008-09 to FY 2009-10 The Appellate Deputy Commissioner-III, Chennai
9 The Odisha Entry Tax Act & Rules Entry Tax 73.14 FY 2007-08 to FY 2010-11 Sales Tax Tribunal Cuttack, Odisha
10 The Odisha Entry Tax Act & Rules Entry Tax 8.53 November 2010 to july 2011 Hon'ble High Court of Orissa
11 The Odisha Entry Tax Act & Rules Entry Tax 0.16 FY 2007-08 Add. Commissioner of Sales Tax, Cuttack
12 The Odisha Entry Tax Act & Rules Entry Tax 0.01 FY 2006-07 Deputy Commissioner,Commercal Tax (Appeals),Cuttack
13 Central Sales Tax, 1956 Central Sales Tax 0.09 FY 2005-06 Deputy Commissioner, Sales tax, Rourkela
14 Central Sales Tax, 1956 Central Sales Tax 0.45 FY 2006-07 Deputy Commissioner,Commercial Tax, Cuttack
15 The Odisha Value Added Tax Act, 2004 State Sales Tax 0.16 FY 2006-07 Deputy Commissioner,Commercial Tax (Appeals),Cuttack
16 The Odisha Entry Tax Act & Rules Entry Tax 22.04 FY 2007-08 to FY 2010-11 Additional CCT of Cuttack
17 The Finance Act, 1994 Service Tax 0.59 FY 2015-16 Commissioner of Central Excise (Appeal), Raipur
18 Custom Act, 1962 Custom Duty 3.66 FY 2013-14 CESTAT Kolkata
19 Custom Act, 1962 Custom Duty 1.86 FY 2005-06 CESTAT – Mumbai
20 The Chattisgarh Entry Tax Act & Rules Entry Tax 0.08 FY 2013-14 Joint Commissioner of Commercial Tax, Cuttack
21 Central Excise Act, 1944 Excise Duty 0.50 FY 2014-15 to FY 2015-16 Commissioner Appeal, Ranchi
22 Central Excise Act, 1944 Excise Duty 0.33 FY 2010-11 CESTAT, New Delhi
23 Central Excise Act, 1944 Excise Duty 11.33 FY 2011-12 Commissioner of Central Excise, Raipur
24 Central Excise Act, 1944 Excise Duty 0.01 FY 2006-07 to FY 2016-17 Assistant Commissioner of Central Excise, Raigarh
25 Central Excise Act, 1944 Excise Duty 1.69 FY 2015-16 Commissioner of Central Excise (Appeal), Raipur
26 Central Excise Act, 1944 Excise Duty 55.24 FY 2007-08 to FY 2016-17 Commissioner of Central Excise, Raipur
27 Central Excise Act, 1944 Excise Duty 20.71 FY 2004-05 to FY 2015-16 CESTAT, New Delhi
28 Central Excise Act, 1944 Excise Duty 0.71 FY 2007-08 to FY 2013-14 Hon'ble High Court, Bilaspur
29 Central Sales Tax, 1956 Central Sales Tax 7.52 FY 2012-13 to FY 2013-14 Hon'ble Orissa High Court
30 Central Sales Tax, 1956 Central Sales Tax 0.11 FY 2005-06 Deputy Commissioner of Commercial Tax, Cuttack
31 Central Sales Tax, 1956 Central Sales Tax 23.66 FY 2010-11 to FY 2014-15 Deputy Commissioner of Commercial Tax, Ramgarh
32 Central Sales Tax, 1956 Central Sales Tax 0.09 FY 2010-11 Revision Board (Tribunal)
33 Central Sales Tax, 1956 Central Sales Tax 0.16 FY 2011-12 to FY 2012-13 Joint Commissioner
34 Central Sales Tax, 1956 Central Sales Tax 0.01 FY 2013-14 Joint Commissioner
35 The Odisha Value Added Tax Act, State Sales Tax 17.07 FY 2006-07 to FY 2013-14 Hon'ble High Court of Orissa
2004
36 The Odisha Value Added Tax Act, 2004 State Sales Tax 0.16 FY 2006-07 Deputy Commissioner of Commercial Tax, Cuttack
37 The Jharkhand Value Added Tax Act, 2005. State Sales Tax 2.75 FY 2011-12 to FY 2013-14 Deputy Commissioner of Commercial Tax, Ramgarh
38 The Jharkhand Value Added Tax Act, 2005. State Sales Tax 0.07 FY 2015-16 Commissioner of Commercial Tax, Ranchi, Jharkhand.
39 West Bengal Sales Tax ACT State Sales Tax 0.05 FY 2010-11 Revision Board (Tribunal)

8. In our opinion, on the basis of audit procedures and according to the information and explanations given to us, the company has defaulted in repayment of dues (including interest) to banks and financial institutions at various days during the year (read with note nos. 23 & 27). The maximum amount of default on a particular date was Rs 1,657.98 crore (including default of Rs 66.85 crore w.r.t. outstanding debentures) and maximum delay (no. of days) noticedwas less than 90 Days (maximum delay of less than 90 Days w.r.t. outstanding debentures). As at March 31, 2017, the overdue financial obligations to banks/ financial institutions/debenture holders was Rs 544.39 crore with maximum delay of less than 90 Days, the lender wise detail of amount of default at year-end is as follows:

Bank Name Amount of Default as at balance sheet date Rs In crore Period of Default
Andhra Bank 3.80 Less than 90 Days
Axis Bank 44.32 Less than 90 Days
Bank of America 2.12 Less than 90 Days
Bank of Baroda 0.40 Less than 90 Days
Bank of India 0.87 Less than 90 Days
Bank of Maharashtra 10.65 Less than 90 Days
Canara Bank 11.30 Less than 90 Days
Central Bank of India 4.69 Less than 90 Days
Corporation Bank 9.34 Less than 90 Days
Credit Agricole 9.05 Less than 90 Days
DBS 0.19 Less than 90 Days
Deutsche Bank 7.85 Less than 90 Days
Exim Bank 6.93 Less than 90 Days
Franklin Templeton Asset Management 27.81 Less than 90 Days
(India) Private Limited *
HDFC Bank 11.65 Less than 90 Days
ICICI Bank 54.73 Less than 90 Days
ICICI Bank (Hong kong) 36.80 Less than 90 Days
IDBI Bank Limited 1.32 Less than 90 Days
IDFC Limited 18.78 Less than 90 Days
Indian Bank 9.59 Less than 90 Days
L&T Infra 5.30 Less than 90 Days
LIC OF INDIA 36.80 Less than 90 Days
Mizuho Bank Limited 32.60 Less than 90 Days
Punjab & Sindh Bank 7.22 Less than 90 Days
Punjab National Bank 18.41 Less than 90 Days
Standard Chartered Bank 2.96 Less than 90 Days
State Bank of Bikaner & Jaipur 11.03 Less than 90 Days
State Bank of Hyderabad 8.19 Less than 90 Days
State Bank of India 13.90 Less than 90 Days
State Bank of Mysore 6.27 Less than 90 Days
State Bank of Patiala 43.04 Less than 90 Days
State Bank of Travancore 7.58 Less than 90 Days
Syndicate Bank 35.59 Less than 90 Days
UCO Bank 9.89 Less than 90 Days
Union Bank of India 19.80 Less than 90 Days
Vijaya Bank 13.62 Less than 90 Days
Grand Total 544.39

On the basis of information and explanationsgiven to us, term loan were applied for the purpose for which the loans were obtained.

No moneys have been raised during the year by way of initialpublic offer or further public offer.

10. Based on the audit procedure performed and on the basis of informationand explanations provided by the management, no fraud by the Company and no material fraud on the Company by its officers or employees has been noticed or reported during the course of the audit.

11. According to the information and explanations us and based on our examination of the records of the Company, managerial remuneration has been paid/ provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act, read with note no. 54 B

12. In our opinion and according to the information and explanations given to us, the Company is not a nidhi company. Accordingly, paragraph 3(xii) of the Order is not applicable.

13. According to the information and explanations and made available by the management of the Company and audit procedure performed, for transactions with the related parties during the year, the Company has complied with the provisions of Section 177 and 188 of the Act, where applicable. As explained and as per records, details of related party transactions have been disclosed in the standalone Ind AS financial statements as per the applicable Accounting Standards [Read with note no. 54 B].

14. According to the information and explanations given to us, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year, read with note no. 21(e); except allotment of equity shares under employees share purchase scheme 2013 of the Company in respect of which requirement of section 42 of the Act have been complied with and the amount raised have been used for the purpose for which the funds were raised.

15. On the basis of records made available to us and according to information and explanations given to us, the Company has not entered into non-cash transactions with the directors or given to persons connected with him.

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

Annexure ‘B' To The Independent Auditor's Report of Even Date on The Standalone Ind As Financial Statements of Jindal Steel & Power Limited

Report on the Internal Financial Controls over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of of March 31, 2017 in conjunction with our audit of the standalone Ind AS financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (ICAI). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that operating effectively for ensuring the orderly and efficient of its business, including adherence to Company's policies, the safeguarding of its assets, the prevention and detectionof frauds and errors, the accuracy and completeness of the accounting records, and the timelypreparation of reliable financial information, as required under the Companies Act, 2013.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting

"Guidance Note") and the Standards on Auditing, issued by ICAI deemed to be prescribed under section 143(10) of the Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain were reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financialcontrols system over financial reporting and their operating effectiveness. Our internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting.

Meaning of Internal Financial Controls Over Financial

Reporting

A company's internalfinancialcontrol over financialreporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures and reported of the company are being made only in accordance with authorizations of management and directors of the company; and (3) providereasonableassuranceregardingpreventionor timely of the detection of unauthorized acquisition, use, or disposition company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financialcontrols over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Qualified Opinion

According to the information and explanations on our audit, the following material weaknesses has been identified in the operating effectiveness of the Company's internal financial controls over financial reporting as at 31st March 2017: of (a) Adjustment/provision to be made in regard to expense relating to additionalcoal levy could potentially result in the Company recording lower expense. (Note No…) effectiveness of (b) Provision/Impact of the net carrying value of fixed assets/ investment made in mining assets not been considered (presently not determinable); which may result in carrying the statements,whether assets at higher value. (Note No…)

A ‘material weakness' is a deficiency, or a combination of deficiencies, in internal financial control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company's annual or interim financial statements will not be prevented or detected on a timely basis.

In our opinion, except for the effects / possible effects of the material weaknesses described above in (a) and (b)under Qualified paragraph on the achievement of the objectives of the control criteria, the Company has, in all material respects, an adequate internal financialcontrols system over financial reportingand such internal financial controls over financial reporting were operating effectively as of March 31, 2017, based on the internal control over financialreporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

We have considered material weakness above in determining the nature, timing, and extent of audit tests applied in our audit of the March31, 2017 standalone financial statements of the Company and these material weaknesses affect our opinion on standalone financial statements of the Company for the year ended 31st March 2017 [our audit report dated May 23, 2017, which expressed an qualified opinion on those standalone financial statements of the Company].

For LODHA & CO.

Chartered Accountants

FRN: 301051E

N.K. LODHA

Partner

Membership No. 085155

Place: New Delhi

Dated: 23rd May 2017

   

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