We have audited the accompanying financial statements of M/ s. REETECH
INTERNATIONAL LIMITED (Formerly known as Reetech International Cargo And Courier
Limited) ("the Company"), which comprises the Balance Sheet as at March 31, 2025, the
Statement of Profit and Loss and statement of cash flows for year ended on 31st March, 2025, and
a summary of significant accounting policies and other explanatory information.
2. Opinion
In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid financial statements give the information required by the Act in the manner so
required and give a true and fair view in conformity with the accounting principles generally
accepted in India, of the state of affairs of the company as at 31st March, 2025, the profit and
total income, and its cash flows for the year ended on that date.
3. Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are
further described in the Auditor's Responsibilities for the Audit of the Financial Statements
section of our report. We are independent of the Company in accordance with the Code of
Ethics issued by the Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the financial statements under the provisions of
the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code of Ethics. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
4. Other Information
The Company's Management and Board of Directors are responsible for the other information.
The other information comprises the information included in the Company's annual report, but
does not include the financial statements and our auditors' report thereon. The Company's
annual report is expected to be made available to us after the date of this auditor's report. Our
opinion on the standalone financial statements does not cover the other information and we will
not express any form of assurance conclusion thereon. In connection with our audit of the
standalone financial statements, our responsibility is to read the other information identified
above when it becomes available and, in doing so, consider whether the other information is
materially inconsistent with the standalone financial statements or our knowledge obtained in
the audit or otherwise appears to be materially misstated. When we read the Company's annual
report, if we conclude that there is a material misstatement therein, we are required to
communicate the matter to those charged with governance and take necessary actions, as
applicable under the relevant laws and regulations.
5. Management's Responsibility for the Standalone Financial Statements
Management is responsible for the matters stated in Section 134(5) of the Companies Act, 2013
('the Act') with respect to the preparation of these financial statements that give a true and fair
view of the financial position, financial performance of the Company 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. This
responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgements and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the company's financial reporting
process.
6. Auditor's Responsibility for the Audit of the Financial Statements
Our objective is to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion on these financial statements.
We have taken into account the provisions of the Act, the accounting and auditing standards
and matters which are required to be included in the audit report under the provisions of the
Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section
143(10) of the Act. Those Standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the
disclosures in the financial statements. The procedures selected depend on the Auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the company's preparation of the financial
statements that give a true and fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the appropriateness of the
accounting policies used and the reasonableness of the accounting estimates made by the
Company's Directors, as well as evaluating the overall presentation of the financial statements.
7. Report on Other Legal and Regulatory Requirements
7.1 As required by the Companies (Auditor's Report) Order, 2020 ("the Order"), issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the
"Annexure A" statement on the matters specified in paragraphs 3 and 4 of the Order, to the
extent applicable.
7.2 As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audit;
b) In our opinion proper books of account as required by law have been kept by the Company
so far as it appears from our examination of those books;
c) The Balance Sheet, Statement of Profit and Loss and cash flow statement dealt with by this
Report are in agreement with the books of account;
d) In our opinion, the aforesaid standalone financial statements comply with the Accounting
Standards specified under the Section 133 of the Act, read with rule 7 of the Companies
(Accounts) Rules, 2014.
e) On the basis of written representations received from the directors as on March 31, 2025 and
taken on record by the Board of Directors, none of the directors is disqualified as on March
31, 2025, from being appointed as a director in terms of section 164 (2) of the Act;
f) With respect to the adequacy of the internal financial controls over financial reporting of the
company and the operating effectiveness of such controls, refer to our separate report in
"Annexure B", and
g) With respect to the other matters to be included in the Auditor's Report in accordance with
Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of
our information and according to the explanations given to us:
(i) The company does not have any pending litigations which would impact its financial
position;
(ii) The company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses;
(iii) There were no amounts which were required to be transferred to the Investor Education
and Protection fund by the company.
(iv) The Company has not declared a dividend or paid any dividend during the year.
(v)
a. The Management has represented that, to the best of its knowledge and belief,
no funds (which are material either individually or in the aggregate) have been
advanced or loaned or invested (either from borrowed funds or share premium
or any other sources or kind of funds) by the Company to or in any other person
or entity, including foreign entity ("Intermediaries"), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or
provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries;
b. The Management has represented, that, to the best of its knowledge and belief,
no funds (which are material either individually or in the aggregate) have been
received by the Company from any person or entity, including foreign entity
("Funding Parties"), with the understanding, whether recorded in writing or
otherwise, that the Company shall, whether, directly or indirectly, lend or invest
in other persons or entities identified in any manner whatsoever by or on behalf
of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries;
c. Based on the audit procedures that have been considered reasonable and
appropriate in the circumstances, nothing has come to our notice that has caused
us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e),
as provided under (a) and (b) above, contain any material misstatement.
vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of
account using accounting software which has a feature of recording audit trail (edit log)
facility is applicable to the Company with effect from April 1, 2023. Based on our
examination which included test checks, the company has used accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log)
facility and the same has operated throughout the year for all relevant transactions recorded
in the software. Further, during the course of our audit we did not come across any instance
of audit trail feature being tampered with. Further, the Company has also preserved the
audit trail as required under the said Rules.
h) with respect to the other matters to be included in the Auditor's Report in accordance with
the requirements of section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations given to
us, the remuneration paid by the company to its directors during the year is in accordance
with the provisions of section 197 of the Act.
For Jay Gupta and Associates
(Erstwhile Gupta Agarwal & Associates)
Chartered Accountants
Firm's Registration No: 329001E
J.S Gupta
Date: May 27, 2025 (Partner)
Place: Kolkata Membership No.: 059535
UDIN: 25059535BMHCBF1932
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