INDOSTAR CAPITAL FINANCE LTD. (Y.E. 31st MARCH, 2022)
From Auditors’ Report on Standalone Financial Statements
Qualified OpinionWe have audited the accompanying standalone financial statements of IndoStar Capital Finance Limited (“the Company”), which comprise the Balance Sheet as at 31st March, 2022, and the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows and the Statement of Changes in Equity for the year then ended, and 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, except for the possible effects of the matter described in Basis for Qualified Opinion section of our report, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2022, and its loss, total comprehensive loss, its cash flows and the changes in equity for the year ended on that date.
Basis for Qualified Opinion
As at 31st March, 2022, the
