4




                                    Pravin R. Rathi & Associates'
                                         Chartered Accountants
                                   Near Mahindra Children Traffic Park,
                                        Behind Tupsakhare Lawns,
                                    P.A. Holkar Marg, Nashik -422002


                                             FORM 5
                             ANNUAL REPORT ON STATEMENT OF ACCOUNTS


    To
    Ashoka Infraways Limited
    Project Royale Ph-2, Wing A
    Site Add: - S. No. 12/1/1/2 P to 12/1/1/9 P, Near ICAl Bhavan,
               Pakhal Road, Nashik-422006.

    SUBJECT: Report on Statement of Accounts on project fund utilization and withdrawal by Ashoka
             Infraways Limited for the period from 01.04.2018 to 31.03.2019 with respect to
                 MahaRERA Regn. Number P51600008360 for Project Royale Ph-2 (A Wing).


     1.    This certificate is issued in accordance with the provisions of the Real Estate (Regulation
           and Development) Act, 2016 read alongwith the Maharashtra Real Estate (Regulation and
           Development) (Registration of Real Estate Projects, Registration of Real Estate Agents,
           Rates of Interest and Disclosures on Website) Rules, 2017.


     2.    We have obtained all necessary information and explanation from the Company, during thern
           course of our audit, which in my/our opinion are necessary for the purpose of this
           certificate.


     3.    We hereby confirm that We have examined the prescribed registers, books and
           documents, and the relevant records of Ashoka Infraways Limited for the period ended
            31st March 2019 and hereby certify that:


            i.   M/s. Ashoka Infraways Limited has completed 95% of the project titled Royale Ph-2 (A
                 Wing) MahaRERA Regn. No. - P51600008360 located at Wadala Shiwar, Nashik.

                                                                                        and amounts
            ii. Amount collected during the year for this project is Rs. 10,93,30,117/-
                Collected till date is Rs. 19,25,97,334/-


            iii. Amount withdrawn during the year for this project is Rs. 7,65,31,082/- and Amount
                 withdrawn till date is Rs. 13,48,18,134/-


    4.      Wc certify that th      - a Infraways Limited has utilized the amounts collected for Royalo
            Ph 2 project only for that project and the withdrawal from the designated bank account(s)
            of the said project has been in accordance with the proportion to the percentage of
            completion of the project.
                                                  Bat tic &

     (If not, please specify the amount                              ible amount or any other exceptions).

     Ashoka Infraways Limited                                        '/
                                                                     /
     Project- Royale Ph-2, Wing- A, Wada
     Notes:-

     1.    The percentage of completion of the project mentioned at para 3(i) of this certificate refers
           to percentage of completion in terms of cost incurred on the project to the total estimated
               cost of the project.


     2.        The certificate at Para 4 of this certificate is not considered necessary in view of
               clarification issued by Circular No. 7/2017 dated 04.7.17 clarifying that there is no end use
               restriction on the amount which is withdrawn from the separate account.


     3.        The advances collected, reported at para 3(11), are inclusive of taxes received from the
               customers.


     4.        The advances amounting to Rs. 71,72,690/- were deposited by the promoter in the regular
               bank A/c maintained for the project i.e. the same were not deposited in the designated
               RERA bank A/c of the project. We have ensured that withdrawals of such advances were in
               proportion to cost incurred on the project.
4.




                                                                            For Pravin R Rathi & Associates
                                                                                    Chartered Accountants
                                                                           Firm Registration No. 131494W




     Place:-Nashik
     Date :- 05.12.2019
                                                                                      (Aditya Pravin Rathi)
                                                                                     Name of the Signatory
                                                                 Full Address: Pravin R Rathi & Associates
                                                                    Rathi Nagar, Behind Tupsakhre Lawns,
                                                                      Near Mahindra Children Traffic Park,
4.
                                                                                        New Tidke Colony,
                                                                                         Nashik — 422 002

                                                                                              MRN-141268
                                                                                   Contact No. 8380067893
                                                                              Email : prrathica@gmail.com
                                                                             UDIN : 19141268AAAAER5267




      Ashoka Infraways Limited
      Project- Royale Ph-2, Wing- A, Wadala Shiwar, Nashik