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October 2022

Auditor’s Report and Related Disclosures in Financial Statements For a Non-Banking Financial Company under an Administrator

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 26 mins
SREI INFRASTRUCTURE LTD.
(Y.E. 31st MARCH, 2022)

From Auditors’ Report on Standalone Financial Statements

Disclaimer of Opinion

We were engaged to audit the Standalone Financial Statements of Srei Infrastructure Finance Limited (SIFL or the Company), which comprise the Balance Sheet as at 31 March, 2022, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity, Statement of Cash Flows for the year then ended and notes to the Standalone Financial Statements, including a summary of significant accounting policies and other explanatory information (hereinafter referred to as the Standalone Financial Statements). We do not express an opinion on the accompanying Standalone Financial Statements of the Company. Because of the significance of the matters described in the Basis for Disclaimer of Opinion section of our report and the uncertainties involved, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these Standalone Financial Statements.

Basis for Disclaimer of Opinion

a)    We draw reference to Note No. 1.2, 1.3(i) and 59 to the Standalone Financial Statements which explains that the Administrator has initiated audits/reviews relating to the processes and compliances o
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