Website - www.catusharmakkar.

com

TAKE ON LETTER HEAD OF COMPANY

Date: DD/MM/2022

To

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Chartered Accountants

Address of Firm
Sub: Representation for the purpose of audit for the financial year 2022-22

Dear Sir,

This representation letter is provided in connection with your audit of the financial statements of

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Ram & Shyam Chawalwaala Ltd for the year ended March 31, 2022 for the purpose of expressing an

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opinion as to whether the financial statements give a true and fair view of the financial position of
Ram & Shyam Chawalwaala Ltd , as on 31.03.2022 and of the results of operations for the year then
ended. We acknowledge our responsibility for preparation of financial statements in accordance

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with the requirements of the Companies Act, 2013 and recognized accounting policies and practices,
including the Accounting Standards issued by the Institute of Chartered Accountants of India.
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We confirm, to the best of our knowledge and belief, the following representations;

Accounting Policies
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1. The accounting policies which are material or critical in determining the results of operations for
the year or financial position is set out in the financial statements are consistent with those
adopted in the financial statements for the previous year. The financial statements are prepared
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on accrual basis except discounts claims and rebates, which cannot be determined with certainty
in the respective accounting year.
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2. Significant assumptions used by us in making accounting estimates, including those measured at

fair value, are reasonable.

3. All events subsequent to the date of the financial statements and for which applicable
accounting standards in India require adjustment or disclosure have been adjusted or disclosed.
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4. The effects of uncorrected misstatements are immaterial, both individually and in the aggregate,
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to the financial statements as a whole.

5. We have fulfilled our responsibilities, as set out in the terms of the audit engagement, for the
preparation of the financial statements in accordance with Financial Reporting Standards; in
particular, the financial statements give a true and fair view in accordance with the applicable
accounting standards in India.

Assets
6. The company has satisfactory title to all assets.
 Fixed Assets
7. The net book values at which fixed assets are stated in the balance sheet are arrived at;
(a) After taking into account all capital expenditure on additions thereto, but no expenditure being
chargeable to revenue.
(b) After eliminating the cost and accumulated depreciation relating to items sold, discarded,
demolished or destroyed.
(c) After providing adequate depreciation on fixed assets during the period.

Capital Commitments
8. At the balance sheet date, there were no outstanding commitments for capital expenditure.

Investments

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9. All the investments shown in the balance sheet are "Long Term Investment'.

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10. Long-term quoted investments are valued cost less provision for permanent diminution in their
value.

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11. Long term unquoted investments are valued at cost.
12. All the investments belong to the entity and they do not include any investments held on behalf
of any other persons.
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13. The entity has clear title to all of its investments. There are no charges against the investments
of the entity except those appearing in the records of the entity.
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Inventories

14. Inventories at the year-end consisted of the following:

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Particulars Amount
Raw Materials & consumables 0.00
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Work-in-Progress 0.00
Finished Goods 0.00
Other Stock 0.00
Total 0.00
15. All quantities were determined by actual physical count or weight that was taken under our
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supervision and in accordance with written instructions, on 31.3.2022.

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16. All goods included in the inventory are the property of the entity, and none of the goods are
held as consignee for others or as bailee.
17. All inventories owned by the entity, wherever located, have been recorded.
18. Inventories do not include goods sold to customers for which delivery is yet to be made.
19. Inventories have been valued at cost or net-realizable value, whichever is less.
20. In our opinion, there is no excess, slow moving, damaged or obsolete inventories, hence no
provision is required to be made.
21. No item of inventories has a net realizable value in the ordinary course of business, which is less
than the amount at which it is included in inventories.
 Debtors, Loans and Advances
22. The following items appearing in the books as at 31.3.2022 are considered good and fully
recoverable.

Particulars Amount
Trade Receivables
Considered good 0.00
Considered Doubtful 0.00
Less : Provision 0.00
Net Sundry Debtors 0.00

Loans and Advances

Considered good 0.00

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Considered Doubtful 0.00

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Less : Provision 0.00
Net Loans & Advances 0.00

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Liabilities
23. We have recorded all known liabilities in the financial statements except retirement benefits,
discounts claims and rebates.
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24. We have disclosed in Notes on Accounts all guarantees that, if any we have given to third
parties.
25. There are no Contingent Liabilities as on 31.3.2022.
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Provisions for Claims and Losses

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26. There are no known losses and claims of material amounts for which provision is required to be
made.
27. There have been no events subsequent to the balance sheet date which require adjustment of
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or disclosure in, the financial statements or notes thereto.

Statement of Profit and Loss

28. Except as disclosed in the financial statements, the results for the year were not materially
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affected by;
(a) Transactions of a nature not usually undertaken by the company.
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(b) Circumstances of an exceptional or non-recurring nature.

(c) Charges or credits relating to prior years
(d) Changes in accounting policies

General
29. The following have been properly recorded and, when appropriate, adequately disclosed in the
financial statements;
(a) Loss arising from sale and purchase commitments.
(b) Agreements and options to buy back assets previously sold.
(c) Assets pledged as collateral.
30. All transactions have been recorded in the accounting records and are reflected in the financial
statements.
31. There have been no irregularities involving management or employees who have a significant
role in the system of internal control that could have a material effect on the financial
statements.
32. The financial statements are free of material misstatements, including omissions.
33. The Company has complied with all aspects of contractual agreements that could have a
material effect on the financial statements in the event of non-compliance. There has been no
non-compliance with requirements of regulatory authorities that could have a material effect on
the financial statements in the event of non-compliance.
34. We have no plans or intentions that may materially affect the carrying value or classification of
assets and liabilities reflected in the financial statements.
35. The allocation between capital and revenue has been correctly done and that no items of capital
nature have been debited to Statement of Profit & Loss and vice versa.
36. The Cash balance as on 31.3.2022 has been physically verified by the management at Rs.

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37. The details of disputed dues in case of GST/VAT/sales tax/ income tax/ customer tax/ excise
duty/ cess/PF/ESI which have not been deposited on account of dispute is as under:

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Name of Statue Nature of the Dues Amount F. Y. to which the Forum where
(Rs.) amount relates dispute is pending
Income Tax NA NA NA NA
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38. The company has not defaulted in repayment of dues to financial institution or bank.
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39. The company has not given any guarantee for loans taken by others from bank or financial
institutions.
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40. No personal expenses have been charged to revenue accounts

41. We have provided you with:
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 Access to all information of which we are aware that is relevant to the preparation of the
financial statements such as records, documentation and other matters;
 Additional information that you have requested from us for the purpose of the audit; and
 Unrestricted access to persons within the entity from whom you determined it necessary to
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obtain audit evidence.

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42. We have disclosed to you the results of our assessment of the risk that the financial statements
may be materially misstated as a result of fraud.

43. We have disclosed to you all information in relation to fraud or suspected fraud that we are
aware of and that affects the entity and involves:
 Management;
 Employees who have significant roles in internal control; or
 Others where the fraud could have a material effect on the financial statements.

44. Related party relationships and transactions have been appropriately accounted for and
disclosed in accordance with the requirements of applicable accounting standards in India. We
 have disclosed to you the identity of the entity’s related parties and all the related party
relationships and transactions of which we are aware.

45. The payments covered under section 40A (3) were made by account payee cheques drawn on a
bank or account payee bank draft.
46. All the loans, deposits or specified sum exceeding the limit specified in section 269SS/T are
accepted or repaid through an account payee cheque or an account payee bank draft.
47. The information regarding applicability of MSMED Act 2006 to the various supplier/parties has
not been received from the suppliers. Hence information as required vide clause 22 of chapter V
of MSMED Act 2006 is not being given.
48. The loans taken from directors of the company or their relatives are out of their own funds and
not any borrowed funds in pursuance of relevant provisions of Companies Act, 2013. Necessary
declarations in this behalf have been obtained by the company from them.

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By order of the Board
For Ram & Shyam Chawalwaala Ltd

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Sd/- Sd/-
Director Director
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Place:- DIN : DIN :
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