We have audited the accompanying financial statement of NAVIGANT CORPORATE ADVISORS LIMITED (the “Company”), which
comprise the Balance Sheet as at 31st March 2024 and the Statement of Profit and Loss and Statement of Cash Flow for the year
ended on that date and notes to the financial statements, including a summary of material accounting policies and other
explanatory information (hereinafter referred to as the “Financial Statements”).
In our opinion and to the best of our information and according to the explanation given to us, the aforesaid financial statements
give the information required by the Companies Act, 2013, Accounting Standards prescribed under Section 133 of the act read with
the Companies (Accounting Standards) Rules, 2021, as amended (“AS”) and other accounting principal generally accepted in
India, of the state of affairs of the Company as at March 31,2024.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statement that give a true and fair view of the financial position
and financial performance of the Company in accordance with the section 134(5) of the Companies Act, 2013, Accounting
Standards Notify under Companies Act, 2013 read with General Circular 08/2014 dated 04-04-2014 issued by The Ministry of
Corporate Affairs in respect of Section 133 of the Companies Act,2013 and in accordance with the accounting principle generally
accepted in India. This responsibility includes the designs, implementation and maintenance of internal control relevant to the
preparation and presentation of the financial statement that gives a true and fair view and is free from material misstatement,
whether due to fraud or error.
Auditor's 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 the Rules made there under.
We conducted our audit in accordance with the standards on auditing issued by the Institute of Chartered Accountants of India.
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 to the risks of material misstatement of t he
financial statement, whether due to fraud or error. In making those risk assessments; the auditor considers internal control relevant
to the company's preparation and fair presentation of financial statements in order to design audit procedures that are appro priate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's Internal Control. An
audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates
made by management, 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 audit opinion on the financial statements.
Opinion
In our opinion and to the best of our information and according to the explanation given to us, the financial statement gives 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.
a. In the case of the Balance Sheet, of the State of Affairs of the Company as at 31st March,2024; and
b. In the case of the Statement of Profit and Loss, of the profit for the year ended 31st March,2024; and
c. In the case of the Cash Flow Statement, of the cash flows for the year ended 31st March, 2024; and
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 in terms of sub -
section (11) of the section 143 of the Act (“the Order”), and on the basis of such checks of the books and records of the
Company as we considered appropriate and according to the information and explanation given to us, we give in “Annexure” a
statement on matters specified in paragraphs 3 and 4 of the said Order.
2. As required by section 143(3) of the Act, we report that:
a. We have obtained all the information and explanation 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 cash flow statement are in agreement with the books of
account;
d. In our opinion, the Balance Sheet, Statement of Profit and Loss and cash flow statement comply with the Accounting
Standards notify under the Act read with the General Circular 15/2013 dated 13-09-2013 of the Ministry of Corporate
Affairs in respect of section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rule,2014;
e. On the basis of written representation received form the directors as on 31st March 2024, and 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 of the Companies Act, 2013.
f. In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all
material respects, an adequate internal financial controls system over financial reporting and such internal
financial controls over financial reporting were operating effectively as at 31st March, 2024, 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.
g. 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 does not have any pending litigation, which would affect its financial position.
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. 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;
v. 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', 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 identified 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; and
vi. Based on our audit procedures, nothing has come to our notice that has caused us to believe that the
representations under sub-clause (iv) and (v) contain any material mis-statements.
vii. The Company has not declared any dividend during the year.
For M/s. Ramanand & Associates
Chartered Accountants
Firm Registration No. 117776W
Sd/-
Ramanand Gupta
Partner
Membership no. 103975
UDIN: 24103975BKAHXE5226
Place: Mumbai
Date: 08.05.2024
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