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02-40 CORPORATE OVERVIEW 41-59 STATUTORY REPORTS 60-147 FINANCIAL STATEMENTS Consolidated
the effect of any identified misstatements in the consolidated financial statements.
We communicate with those charged with governance of the Trust included in the consolidated financial statements of which we are the independent auditors 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 provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
OTHER MATTERS
We did not audit the financial statements and other financial information of 5 subsidiaries, whose financial statements reflect total assets of ` 70,778.63 Million and net worth of ` 14,315.36 Million as at 31 March 2022, total revenue from operation of ` 12,173.39 Million and net cash inflows amounting to ` 303.49 Million for the period from 13 May 2021 to 31 March 2022, as considered in the consolidated financial statements before giving effect to elimination of intra-group transactions. These financial statements and other financial information have been audited by other auditors whose reports have been furnished to us by the management and our opinion
on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and our report in terms of InvIT regulations, in so far as it relates to the aforesaid subsidiaries is based solely on the reports of the other auditors.
Our opinion above on the consolidated financial statements, and our reports on the Legal and Regulatory Requirements below, is not modified in respect of the above matters with respect to our reliance on the work done and reports of the other auditors.
Report on Other Legal and Regulatory Requirements
Based on our audit and as required by InvIT Regulations, we report that;
a) We have obtained all the information and explanations which, to the best of our knowledge and belief were necessary for the purpose of our audit;
b) The Consolidated Balance Sheet, and the Consolidated Statement of Profit and Loss including other comprehensive income dealt with by this report are in agreement with the books of account maintained for the purpose of preparation of the consolidated financial statements; and
c) In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards (Ind AS) and/or any addendum thereto as defined in Rule 2(1)(a) of the Companies (Indian Accounting Standards) Rules, 2015, as amended.
Place: Gurugram
UDIN: 22099387AJQRAM1945 Dated: 26 May 2022
For S.K.Mittal & Co.
Chartered Accountants FRN: 001135N
(CA Gaurav Mittal)
Partner Membership No.: 099387
POWERGRID Infrastructure Investment Trust 97