127 to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Financial Statements for external purposes in accordancewith Generally Accepted Accounting Principles. The internal financial controls over financial reporting of a company include those policies and procedures that i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; ii) 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 of the Company are being made only in accordance with authorisations of Management and Directors of the Company and iii) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of assets of the company that could have a material effect on the Financial Statements. Inherent limitations of internal financial controls over financial reporting 07. 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 financial controls 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. Opinion 08. In our opinion to the best of our information and according to the explanations given to us, Parent and its subsidiary company have, in all material respects, an adequate internal financial controls systemover financial reporting and such internal financial controls over financial reporting were operatingeffectively as atMarch31, 2022, based on the internal control over financial reporting criteria established by the respective companies considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the ICAI. For Deloitte Haskins & Sells LLP Chartered Accountants Firm registration number: 117366W | W-100018 Ketan Vora Partner Mumbai Membership number: 100459 April 22, 2022 UDIN: 22100459AIAPBL8210
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