We have audited the accompanying financial statements of M/s. Travels & Rentals Limited (hereinafter
referred to as ‘the Company’), which comprises of the Balance Sheet as at 31st March 2025, the Statement of
Profit and Loss, the Cash Flow Statement for the year then ended, and notes to the financial statements,
including a summary of the significant accounting policies and other explanatory information (hereinafter
collectively referred as the “Financial Statements”).
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 Companies Act, 2013, as amended (hereinafter referred
to as ‘the Act’) in the manner so required and give a true and fair view in conformity with the accounting
standards and other accounting principles generally accepted in India, of the state of affairs of the company as
at 31st March 2025, its Profit and its Cash Flows for the year ended on that date.
Basis for Opinion:
We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs)
specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in
the Auditors’ 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 (hereinafter referred as “ICAI”) together with the ethical requirements that are relevant
to our audit of the financial statements under the provision of the Act and the Rules there under, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion on the financial statements.
Information Other than the Financial Statements and Auditors’ Report Thereon:
The Company’s Management and Board of Directors are responsible for the preparation of 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.
Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon.
In connection with our audit of the 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 financial statements or our knowledge obtained in the course of our audit or
otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information; we are required to report that fact. We have nothing to report in this regard.
Responsibilities of the Management’s and Board of Director’s and Those Charged with Governance for
the Financial Statements:
The Company’s Management and Board of Directors is responsible for the matters stated in Section 134(5) of
the Act, with respect to the preparation of these financial statements that give a true and fair view of the
financial position, financial performance, and cash flows of the company in accordance with the accounting
principles generally accepted in India, including the accounting standards specified under section 133 of the
Act. This responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds
and other irregularities; selection and application of appropriate accounting policies; making judgments 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, the management and Board of Directors are 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 the Board of Directors either intends to liquidate the
Company or to cease operations, or has no realistic alternatives but to do so.
The Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditors’ Responsibility for the Audit of the Financial Statements:
Our objectives are 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 auditors’ report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with the SAs will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decision of users taken on the basis of these financial statements.
As a part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatements of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal controls.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for
expressing our opinion on whether the Company has in place an adequate internal financial control system
over financial reporting and the operating effectiveness of such controls.
• Evaluate the appropriateness of the accounting policies used and the reasonableness of the accounting
estimates and related disclosures made by the management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting in
preparation of the financial statements and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention
in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’
report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a manner
that achieves fair presentation.
Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate,
makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements
may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our
audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified
misstatements in the financial statements.
We communicate with those charged with governance 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, relate safeguards.
From the matters communicated with those charged with governance, we determine those matters that were
of most significance in the audit of the 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.
Report on Other Legal and Regulatory Requirements:
1. As required by the Companies (Auditor’s Report) Order, 2020 (hereinafter referred to as ‘the Order’)
issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we
give in Annexure-‘A’ a statement on the matters specified in the paragraphs 3 and 4 of the Order, to
the extent applicable.
2. As required by Section 143(3) of the Act, based on our audit 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 purposes 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, the Statement of profit and Loss and the Cash Flow Statement dealt with by this
Report are in agreement with the books of account;
d) in our opinion, the aforesaid financial statements comply with the Accounting Standards specified
under Section 133 of the Act, read with Rules 7 of the Companies (Accounts) Rules, 2021 as amended
(to the extent applicable) prescribed thereon;
e) on the basis of the written representations received from the directors as on 31 st March, 2025 taken
on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2025 from
being appointed as a director in terms of Section 164 (2) of the Act;
f) With respect to the adequacy of internal financial control over financial reporting of the company &
the operating effectiveness of such controls, refer to our separate report in Annexure ‘B’. Our Report
express an unmodified opinion on the adequacy and operating effectiveness of the Company ’ s internal
financial controls over financial reporting.
g) with respect to the other matters to be included in the Auditors’ Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, as amended in our opinion and to the best of our
information and according to the explanations given to us:
a) the Company does not have any pending litigations which would impact the financial position of the
Company.
b) the Company does not have any long term contracts including derivative contracts for which there
were any material foreseeable losses.
c) there were no amount which were required to be transferred to the Investor Education and Protection
Fund by the Company
d) (i) the management has represented that, to the best of its knowledge and belief, no funds 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(s) or entity(ies), including foreign entities
(“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 (“Ultimate Beneficiaries”) by or on behalf of the company or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries;
(ii) the management has represented, that, to the best of its knowledge and belief, no funds have been
received by the company from any person(s) or entity(ies), including foreign entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the company shall
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; and
(iii) Based on such audit procedures as 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
d (i) and (ii) contain any material mis-statement.
e) no dividends were declared or paid during the year by the company. Hence, no reporting under this
clause is applicable.
3. With respect to the other matters to be included in the Auditors’ Report in accordance with the
requirements Section 197(16) of the Act as amended, we report that 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
4. 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. Moreover,
the feature of the recording audit trail (edit log) facility is enabled at the database level to log any
direct data changes pertaining to the accounting software used for maintaining books of account.
Further, during the course of our audit we did not come across any instance of audit trail feature being
tampered with. Additionally, the audit trail has been preserved by the company as per the statutory
requirements for record retention.
For Dokania S. Kumar & Co.
Chartered Accountants
Firm Registration No.: 322919E
Sd/-
(CA Sourav Dokania)
Partner
Membership No.:(F) 304128
Kolkata , June 27, 2025
UDIN: 25304128BMKSPC8560
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