Page 176 - Kolte Patil AR 2019-20
P. 176



          The Members of Kolte-Patil Developers Limited

          Report on the Audit of the Consolidated Financial Statements

          OPINION                                            the Consolidated Financial Statements section of our report. We are
          We have audited the accompanying consolidated financial   independent of the Group and its joint venture in accordance with
          statements of Kolte-Patil Developers Limited (”the Parent”) and its   the Code of Ethics issued by the Institute of Chartered Accountants
          subsidiaries, (the Parent and its subsidiaries together referred to as   of India (ICAI) together with the ethical requirements that are
          “the Group”) which includes Group’s share of loss in its joint venture,   relevant to our audit of the consolidated financial statements under
          which comprise the Consolidated Balance Sheet as at 31 March   the provisions of the Act and the Rules made thereunder, and we
          2020, and the Consolidated Statement of Profit and Loss (including   have fulfilled our other ethical responsibilities in accordance with
          Other  Comprehensive  income),  the  Consolidated  Cash  Flow   these requirements and the ICAI’s Code of Ethics. We believe that
          Statement and the Consolidated Statement of Changes in Equity   the audit evidence obtained by us and the audit evidence obtained
          for the year then ended, and a summary of significant accounting   by the other auditors in terms of their reports referred to in the
          policies and other explanatory information.        sub-paragraphs (a) and (b) of the Other Matter section below, is
                                                             sufficient and appropriate to provide a basis for our audit opinion
          In our opinion and to the best of our information and according   on the consolidated financial statements.
          to the explanations given to us, and based on the consideration
          of reports of the other auditors on separate financial statements   EMPHASIS OF MATTER
          of subsidiaries referred to in the Other Matters section below, the
          aforesaid  consolidated  financial  statements  give  the  information   We draw attention to Note 2 (G) of the  consolidated  financial
          required by the Companies Act, 2013 (“the Act”) in the manner so   statements, which describes that the potential impact of COVID-19
          required and give a true and fair view in conformity with the Indian   pandemic on the operations and consolidated financial statements
          Accounting Standards prescribed under section 133 of the Act read   of the Group is dependent on future developments, which are
          with the Companies (Indian Accounting Standards) Rules, 2015,   uncertain.
          as amended (‘Ind AS’), and other accounting principles generally   Our opinion is not modified in respect of this matter.
          accepted in India, of the consolidated state of affairs of the Group as
          at 31 March 2020, and their consolidated profit, their consolidated   KEY AUDIT MATTERS
          total comprehensive income, their consolidated cash flows and their   Key audit matters are those matters that, in our professional
          consolidated changes in equity for the year ended on that date.   judgment, were of most significance in our audit of the consolidated
                                                             financial statements of the current period.  These matters were
          BASIS FOR OPINION                                  addressed in the context of our audit of the consolidated financial
          We conducted our audit of the consolidated financial statements in   statements as a whole, and in forming our opinion thereon, and
          accordance with the Standards on Auditing prescribed under section   we do not provide a separate opinion on these matters. We have
          143 (10) of the Act (SAs). Our responsibilities under those Standards   determined the matters described below to be the key audit
          are further described in the Auditors’ Responsibility for the Audit of   matters to be communicated in our report.

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