LETTER OF REPRESENTATION

To, Date:
M/s. NNK & Co.
Chartered Accountants,
F/1603, Sheetal Tapovan,
Pathanwadi Road, Malad East.
Mumbai-400097

Dear Sirs,

Sub: Audit of Accounts for the year ended 31st March, 2021

With reference to the Financial Statements of M/s PKJ Energy Private Limited.(the Company) for the
year ended March 31, 2021 as submitted to you for the purpose of expressing an opinion as to
whether the Statements give a true and fair view of the financial position of the Company as of March
31, 2021 and of the results of the operations for the year ended that date, we acknowledge our
responsibility for preparation of financial statements in accordance with the accounting principles
generally accepted in India, including the Accounting Standards specified under section 133 of the Act,
read with Rule 7 of the Companies (Accounts) Rules, 2014 and hereby confirm that to the best of our
knowledge and belief:

1. Basis of preparation of Financial Statement.

1.1. The accounting policies which are material or critical in determining the results of operations
for the year or financial position are set out in the financial statements and are consistent with
those adopted in the financial statements for the previous year. The financial statements are
prepared on accrual basis.
1.2. The Financial Statements have been prepared in conformity with mandatory accounting
standards.
1.3. The Financial Statements are prepared on a going concern basis.

2. Share Capital :
The Company has not made any preferential allotment of shares during the year to the parties and
companies covered in the Register maintained under Section 301 of the Companies Act 1956 or
parties covered in the register maintained u/s 189 of The Company Act 2013
The Company has not granted any options, warrants or conversion rights in respect of the
Company’s capital except as disclosed in the Financial Statements.
3. Assets – The Company has satisfactory title over all assets of the Company. All mortgages, pledges
and other liens outstanding against the assets are correctly disclosed in the financial statements.
4. Investments:

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 4.1. All investments made by the Company have been correctly classified and accounted for in the
Books of accounts.
4.2. There are no current investments in the balance sheet. The Company has correctly classified
Shares and Securities as Non-Current Investments. Closing Balance of Shares and securities
held by the Company amounts to Rs.3, 20,000/-.
4.3. The Company has not received any offers of right issues received during the year, in respect of
its investments.
5. Current Assets,
5.1. The Balance Sheet as at 31 st March 2021 includes all cash and bank balances of the Company.
Cash balances have been physically verified at all locations at the year end and no
discrepancies were noticed on such physical verification, however the closing balance is
Rs.23,058
5.2. No item of current asset has a value on realisation in the ordinary course of business, which is
less than the amount of value at which it is stated in the Balance Sheet.
5.3. The Company has no unrecorded or contingent asset/recoverable of material value as at
March 31, 2021.
6. Loans (Liabilities):
6.1. The Company has during the year taken unsecured loan from parties, covered in the register
maintained under section 189 of the Companies Act 2013.

6.2. The company has taken loan from the Directors which are shown under the head Current
Liabilities as a Short term borrowing, closing balances of the same are as follows:
 Praveen Jain – Rs.78,200/-

6.3. Also the company has taken Advance against Property-Omkam the closing balance of which is
Rs.500,000

6.4. Liabilities - All known liabilities accrued or contingent, secured or unsecured, have been fully
and correctly recorded and disclosed in the financial statements at their actual or their
estimated values as applicable.
6.5.During the year no funds raised on short term basis, have been used for long term investment.
7. Profit and Loss Account:
7.1. There is no material non-recurring / abnormal income / gain and expenditure / loss and
changes in accounting practices, other than those disclosed in the financial statements.

7.2. There is no major change in / deviation from any accounting estimate applied by the Company
as compared to the previous year.

7.3. The Company has not made any contributions, directly or indirectly in cash or in kind, to any
political party during the financial year ended March 31, 2021, and has also not made any
contribution in contravention of Section 180 of the Companies Act, 2013.

7.4. No personal expenses have been charged to the Profit and Loss Account, except for those
which were either incurred under service contract obligations with the employees, or which
were incurred in accordance with normally accepted business practices.

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8 Regulatory:
8.1 No undisputed amounts were payable and outstanding in respect of Provident Fund, Investor
Education and Protection Fund, Employees’ State Insurance, Income-tax, Sales Tax, Wealth
Tax, Service Tax, Customs Duty, Excise Duty, Cess and other statutory dues as at the last day of
the financial year, for a period of more than six months from the date they became payable.

8.2 All the contracts or arrangements required to be entered in the register maintained under
Section 189 of New Companies Act 2013, constitute a full and complete record of all
transactions entered during the year. Further, we confirm to you that they have been made at
prevailing market prices at the relevant time.

8.3 There have been no communications from the Company Law Board and/or other regulatory
agencies concerning non-compliance with, or deficiencies in, financial reporting practices that
could have a material effect on the financial statements.

8.4 There are no contraventions or possible contraventions of laws or regulations, the effect of
which could be considered for disclosure in the financial statements or as a basis for recording
a contingent loss provision, and there are no other material liabilities or contingent gains or
losses which require to be accrued or disclosed.

8.5 None of the Directors of the Company are prima-facie, as at March 31, 2021, disqualified from
being appointed as Director of the Company under Section 164(2) of the new companies Act
2013.

8.6 We confirm that, we have satisfied all the norms of the respective export obligation schemes
viz. advance license, etc., except for procedural issues relating to filing of documents and
getting confirmation from the respective authorities and our liability towards unfulfilled
obligations has been correctly disclosed as contingent liability in the financial statements.

9 General:
9.1 The financial statements are free of material misstatements, including omissions.

9.2 The Company has no plans or intentions that may materially affect the carrying value or
classification of assets and liabilities reflected in the financial statements.

9.3 There have been no events or transactions which should be disclosed in the accounts or which
have a bearing on the financial statements, other than those reflected and fully disclosed in the
financial statements.

9.4 There are no transactions which are represented merely by book entries and are prejudicial to
the interest of the Company.

9.5 The Company has, at no time during the period under audit, entered into any arrangement,
transaction or agreement to provide credit facilities (including loans, quasi-loans, credit

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 transactions, mutually beneficial arrangements, or assumed or assigned any such rights or
liabilities) for any directors, alternate directors, officers or their connected persons (except as
permitted by law and as disclosed in the financial statements).

9.6 The Company has not given any guarantee for loans taken by others from any bank.

9.7 The related parties have been correctly identified by the Company in accordance with
Accounting Standard 18. Except as disclosed in the financial statements, no transactions have
been entered into by the Company with any related party as defined in Accounting Standard
18. The Company has identified the following related party: -

 Repayment of Loan taken from Praveen Jain: Rs. 78,200/-

9.8 As at March 31, 2021, the Company had no contingent liabilities in respect of other matters,
nor any options or commitments other than the normal commitments entered into in the ordi-
nary course of business, except as stated and disclosed in the financial statements.

9.9 As at 31st March 2021, there were no outstanding commitments for capital expenditure.
9.10 As per section 148 of Companies Act 2013 and Companies (Cost and Audit) Rule 2011 the
company is not required to maintenance cost records.
9.11 In the opinion of the management, there is adequate internal control system for the
purchase of inventory and fixed assets and for the sale of goods and services and all the
operations of the Company. We are not aware of any continuing failure to correct any major
weaknesses in such internal controls.
9.12 We acknowledge our responsibility for the design and implementation of programs and
controls to prevent and detect fraud. Apart from what is mentioned in paragraph below, we
have no knowledge of any fraud or suspected fraud on or by the Company, noticed or
reported during the year, affecting the Company involving management; employees who
have significant roles in internal control; or others where the fraud could have a material
effect on the financial statements. We have no knowledge of any allegations of fraud or
suspected fraud affecting the Company, received any communications from employees,
former employees, analysts, regulators, short sellers, or others.

We confirm that the above representations are true and correct to the best of our knowledge and
belief and we are aware that you intend to rely on this representation while completing the audit and
expressing your opinion as to whether the financial statements of M/s PKJ Energy Private Limited.
The year ended 31st March 2021 and the result of the operations for the year then ended give a true
and fair view.

Thanking You,
Yours truly,
For
M/s. PKJ Energy Private Limited
Director

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