We have audited the accompanying financial statements of JLA INFRAVILLE SHOPPERS
LTD. (the Company), which comprise the Balance Sheet as at March 31, 2024 and also the
Statement of Profit and Loss and the 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 matter stated 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 state of affairs(financial position), profit or
loss(financial performance) and Cash flow of the Company in accordance with the
accounting principles generally accepted in India, including the Indian Accounting
Standards prescribed under section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rule 2014.
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, selection and application of the
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 statements
that give a true and fair view and are free from material misstatement, whether due to
fraud or error.
AUDITORS’ RESPONSIBILITY
Our responsibility is to express an opinion on these 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 rules made thereunder.
We conducted our audit of the financial statements 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 and 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 financial control relevant to the Company's preparation of the financial
statements that give a true and fair view 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 an adequate internal financial controls system over
financial reporting and the operating effectiveness of such controls. 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.
EMPHASIS OF MATTERS
The balances of Loans and advances, Sundry Debtors, Sundry Creditors, Current Liabilities
& Provisions and other personal accounts are subject to confirmation and reconciliation, if
any. Our opinion is not qualified in respect of this matter.
OPINION
In our opinion and to the best of our information and according to the explanations given to
us, because of the significance of matters described except for the effect/ possible effect of
the matter described in the basis of Emphasis of Matters given in above paragraph, 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 Including the:
(a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,
2024;
(b) In the case of the Statement of Profit and Loss, of the 'Profit'' of the Company for the
year ended on that date;
(c) In the case of Cash Flow Statements, 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, 2020 (the Order) issued by the
Central Government of India in terms of sub-section (11) of Section 143 of the Act, we
give in the Annexure 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 kept by the
Company so far as appears from our examination of those books.
c. The Balance Sheet, Statement of Profit and Loss and the Cash Flow statement, dealt
with by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid Financial Statements comply with Indian Accounting
Standard Specified under section 133 of the Act read with Rule 7 of the Companies
(Accounts) Rule, 2014.
e. On the basis of the written representations received from the directors as on March
31, 2024, taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 2024, from 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 B, and
g. With respect to the other matters to be included in the Auditor's Report in accordance
with Rule 11of 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:
h. Based on our examination which included test checks, the Company, in respect of
financial year commencing on 1 April 2023, has used an accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log)
facility and the same has been operated throughout the year for all relevant
transactions recorded in the software. Further, during the course of our audit we did
not come across any instance of audit trail feature being tampered with. As proviso to
Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 01, 2023.
i) The Company does not have any pending litigations which would impact its
financial position.
ii) The Company did not have any long-term contracts including derivatives
contracts for which
there were any material foreseeable losses.
iii) There were no amounts which required to be transferred by the Company to the
Investor Education and Protection Fund.
On the basis of the written representations received from the directors as on 31march, 2024;
(a) The management has represented that, to the best of its Knowledge and belief,
other than as disclosed in the notes 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 ("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,
other than as disclosed in the notes to the accounts, no funds have been received
by the company from any person(s) or entity (ies), including foreign entities
("Funding Parties'),n with the understanding, whether recorded in writing or
otherwise, that the company shall, whether, directly or indirectly, lend or invest
other persons or entities identified in any manner whatsoever by or on behalf of
the Funding Party ("Ultimate Beneficiaries") or provided any guarantee, security or
the like on behalf of the Ultimate Beneficiaries; and
a) Nothing has come to our notice that has caused us to believe that the
representations under sub-clause (a) and (b) contain any material mis¬
statement.
b) No dividend declared or paid during the year by the company is in
compliance with section 123 of the Companies Act, 2013.
For KAMAL GUPTA ASSOCIATES
CHARTERED ACCOUNTANTS
FRN 000752C
Sd/-
CA. NEHA AGARWAL
(PARTNER)
(MRN 406713)
PLACE: KANPUR
DATED: - 25/05/2024
UDIN: -24406713BKFMSP3086
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