We have audited accompanying Ind AS Standalone financial statements of M/s Cltiten Infoline limited ("the
Company") which comprises the Balance Sheet as at March 31, 2024 the Statement of Profit and Loss, statement of
changes in the Equity and 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 standalone
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, 2074, and profit & loss, statement of change in equity and its cash flows for the year ended on that date
• BASIS Of OPINION
Wo conducted our audit by the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013
Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the
Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics
issued by the Institute o( 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 thereunder, 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.
KEY AUDIT MATTER
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the
Standalone Financial Statements for the financial year ended March 31, 2024 These matters were addressed In the
context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do
not provide a separate opinion on these matters. For each key matter, our description of how our audit addressed the
matter Is provided in that context.
We have determined that there are no key audit matters to be communicated in our report
We have fulfilled the responsibilities described in the Auditors' responsibilities for the audit of the Standalone Financial
Statements section of our report, including in relation to these matters, Accordingly, our audit included the petfot mance
of procedures designed tu tespond to our assessment of the risks of material misstatement of the Standalone Financial
Statements, Accordingly, our audit Included the performance of procedure designed to respond to our risk of material
mistaken of the Standalone financial statements. The result of our audit procedure provides the basis for our audit
opinion on the standalone financial statement.
INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS' REPORT THEREON
The Company's Board of Directors are responsible for the other information. The other Information comprises the
information included in the Annual Report, but does not include the Standalone Financial Statements and our auditors'
report thereon Our opinion on the Standalone 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 Standalone Financial
Statements, our responsibility >s to read the other information and, in doing so, consider whether such other information
is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to
be materially misstated. It, 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 TOR THE STANDALONE FINANCIAL STATEMENTS
The Company'? Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013
(*the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the
financial position, financial performance, (changes In equity)[ivj 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 implementation and maintenance of accounting policies, making judgments
and estimates that are reasonable and prudent; and design, imple.mentation 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 responsible for assessing the Company's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ol
accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.
Those Board of Directors are also responsible for overseeing the company's financial reporting process
AUOITORS RESPONSIBIIITV TOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whptber the Standalone Financial Statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our
upinion Reasonable assurance Is a high Ipvel ot assurance, hut Is not a guarantee that an audit conducted m 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 Standalone Financial Statements.
As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism
throughout the audit We also:
• Identity and assess the risks of material misstatement of the Standalone Financial Statements, whether due tu 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 Act, we are also responsible for expressing our opinion
on whether the Company has adequate internal financial controls with reference to financial statements In place and
the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and tne reasonableness of accounting estimates and related
disclosures made by management
• Conclude on the appropr-ateness of management's use of the going concern basts of accounting and based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant
doubt on the Company's ability to continue as agoing concern. If we conclude that a material uncertainty exists, we are
required to draw attention In our auditors' report to the related disclosures In the financial statements or, If such
disclosures are inadequate, to modify our opinion Our conclusions are based on the audit evidence obtained up to the
date of our auditors' report. However, future events nr conditions may cause the Company to cease to continue as a
going concern
• Evaluate the overall presentation, structure and content of the Standalone Financial Statements, Including the
disclosures, and whether the Standalone 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 providp those charged with governance with a statement
that we have complied with relevant ethical requirements regarding independence, and to communitatp with them ail
relationships and othei matters that may teasonably be thought to bear on cur independence, and where applicable le,
related safeguards From the matters communi* aled with those charged with governance, we determine those matters
that were of most significance in the audit of the Standalone Financial Statements for the financial year ended March
31, 2024 and are therefore the kev audit matters We describe these matters in our auditors’ report unless law or
regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a
matter shoulc^otibe communicated in our report because the adverse consequences of doing so would reasonably be
expecu^?5jra™26Mhe public Interest henefits of such communication
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
As required by the Companies (Auditor's Report) Order. 2016 ("the Order"), issued by the Central Government of India
in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the 'Annexure A' a statement on the
matters specified in paragraphs 3 anrl 4 of the Order, to the extent applicable.
As required by Section 143(3) of the Act, we report that.
We have sought and obtained all the information and explanations which to the best of ote knowledge and belief were
necessary for our audit
1. In our opinion, proper books of account as required by law have been kept by the Company so far as It appears
fiom our examination of those books
2. The Balance Sheet, the Statement of Profit and Loss, Statement of Change in Equity and the Cash Flow
Statement dealt with by this Report are in agreement with the books of account
3. In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014
4 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.
5. We here by attach an audit opinion with respect to the adequacy of the internal financial controls over financial
reporting of the company and the operating effectiveness of such controls vide notification dated June 13, 2017
Ih Annexure B to this report;
Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according
to the explanations given to us:
6 Concerning the other matters to be included in the Auditor's Report by 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.
1) The Company did not have any long term contracts including derivative contracts for which there were any
material foreseeable losses.
2) There has been no delay In transferring amounts, required to be transferred, to the Investor Education and
Protection Fund by the Company.
3) (i)The management has represented that to the best of its knowiedge and belief, other than as disclosed in the
notes to accounts, no funds have been advanced or loaned or invested (either from hot rowed funds oi share
premium oi any other sources or kinds of funds) by Ihe Company to or In any other person(s) or entityfies).
Including foreign entitles {"intermediaries"), w>th the understanding . whether recorded in writing or
otherwise, that the intermediately 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 like on behalf of the Ultimate Beneficiaries,
4) (ii) )The management has represented that to the best of its knowledge and belief, otner than as disclosed m
the notes to accounts, iio funds nave been received by the company from any peison(s) or entfty(ies), including
foreign entities ("funding Parties"), with understanding whether recorded in writing or otherwise, that the
company shall whether directly and indirectly, lend or invest in other persons or entities identified In any
manner whatsoever by or on behalf of the Funding Party
5) ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of ultimate beneficiaries; and
6) (ili) Based on audit procedures which we 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 (i) and (ii)
contain any material mis-statements
7) the Company has ndt declared or paid any dividend during the year in contravention of provisions of Section
123 of the Companies Act, 2013
8) With respect to the matter to be included m the Auditor’s Report under section 197(16) of the Act, in our
opinion and according to the information and explanations given to us, the limits prescribed for the payments
of remuneration Is not applicable to the private company
9) With respect tu reporting require under rule 11(G) ,we are unable to comment whether the accounting
software use by a company has a feature the record the audit trail and the same Has been operated throw out
The year, Further, we are not able to comment whiter the same audit trail feature has been sampled with or
not or whiter company has preserved the audit trail has prescribed.
FOR KRUTESH PATU & ASSOCIATES
CHARTERED AGf^UpITANTS
PLACE: AHMEDABAD
DATE: 16m MAY 2024 If $7• Jjtym\$L\\ JtBlAWSffpATCl"
l5l «.’ WM47 PARTNER
*// M No 140047
WlfV FIRM REG. No 10086SW
. UDIN : 24140047BKFIYN9248
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