Pravin R. Rathi & Associates Chartered Accountants Address :Rathi Nagar,Behind Tupsakhare Lawns,New Tidke Colony,Nashik-422002 Contact: 8380067893, E-mail.: prrathicagmaiI.cOm FORM 5 ANNUAL REPORT ON STATEMENT OF ACCOUNTS CHARTERED ACCOUNTANT'S CERTIFICATE To, Viva Highways Limited 113/2/A, Ashoka Business Enclave, Wadala Shivar, Nashik-422009 SUBJECT: Report on Statement of Accounts on project fund deposit, utilization and withdrawal by Viva Highways Limited for the period from 01-04-2021 to 31-03-2022 with respect to MahaRERARegn Number P51600015843 Project "Atharva Heights" 1. This certificate is issued in accordance with the provisions of the Real Estate, (Regulations and Development) Act, 2016 read along with the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest & Disclosures on Website) Rules, 2017. This report should be read in conjunction with Annexure I below which forms an integral part of the report. 2. We have obtained all necessary information and explanation from the Promoter, during the course of our audit, which in 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 VIVA Highways Limited for the period ended 31.03.2022 and hereby certify that: A: DeDosits Total for this project till Sr. No. Particulars For this Fiscal year 31.03.2022 Total amount collected from allottees (excluding pass through 1 115,533,486 139 848,428 charges and indirect taxes) 2 % of amount to be deposited as per Act 70% 70% 3 Amount to be deposited as per Act (1*2) 80,873,440 97,893,900 4 Total amount deposited in the Designated Bank Account 106,316,344 130,512,136 % of Amount deposited in Designated Bank Account 92.02% 93.32% [(4)/(1)'100] 6 Shortfall/(Excess) deposit (3-4) (25,442,904) (32,618,236) Amount collected/deposited at Sr.No.1&2, shall not include pass through charges and indirect taxes. Has the required proportion of money collected from allottees of Yes the Act, deposited in the Designated RERA Bank Account? (Yes/p6).)* 14 If No, please mention the amount not deposited. *1, - ,) rerepo B : Withdrawals Total for this project till Sr. No. Particulars For this Fiscal year 31.03.2022 1 Opening Balance of Designated Bank Acco unt* 3,653,076 200,702 2 Total Deposits 106,316,344 130,512,136 3 Total Amount Withdrawn 105,600,000 126,341,058 Less: Bank Charges 2,594 4,954 4 Closing Balance 4,366,826 4,366,826 As specified in the Act, All the amounts withdrawn during the year from RERA Bank Account were within the withdrawal limit as certified under the relevant Form 3 issued during the reporting Yes period? (Yes/No) If No, Please provide the below details: S.No. Date of Withdrawal Amount of Excess Withdrawals NA C: Utilisation We certify that, the VIVA Highways Limited has utilized the amounts withdrawn from designated bank account towards project cost only, as specified in the Act. If No, Please provide the below details: Amount not utilised for Project S.No. Date Cost D. Any Qualifications! Observations of CA : 550ciate5 Agreed & Accepted By: FRN: 131494W 'S."\ AnupKatariya M. No,: 141268 VIVA Highways Limited UDIN No : Z2141268BEIOYDS261 (Director) Place : Nashik Date : 30/09/2022 Dtp' Pravin R. Rathi & Associates Rathi Nagar, Back of Mahindra Children's Traffic Park, Behind Tupsakhre Lawns, Nashik- 422002 Email ID: prrathica@gmail.com Mob No: 9850307893 Annexure I to Report on Statement of Accounts on project fund deposit, utilization and withdrawal by VIVA Highways Limited for the period from 01.04.2021 to 31.03.2022 with respect to MahaRERA Registration Number P51600015843 (Project - Atharva Heights). The accompanying Statement of Accounts on project fund deposit, utilization and withdrawal by the Company for the period from April 1, 2021 to March 31, 2022 with respect to MahaRERA Registration No. P51600015843 has been prepared by the Company for submission to Maharashtra Real Estate Regulatory Authority pursuant to the requirements of the provisions of the Real Estate (Regulation and Development) Act, 2016 read along with 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) (hereinafter referred to as 'the Act') Management's Responsibility II. Management is responsible for: 1. Preparation of the Statement of Accounts on project fund deposit, utilization and withdrawal pursuant to the requirements of the provisions of the Real Estate (Regulation and Development) Act, 2016 read along with 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) (hereinafter referred to as 'the Act') including the preparation and maintenance of all accounting and other relevant supporting records and documents. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the Statement and applying an appropriate basis of preparation; and making estimates that are reasonable in the circumstances. h;& FRN1 '\ N i- 2. Complying with the Act and other applicable rules! regulations! notifications! circulars issued thereon from time to time. Auditor's Responsibility HI. Pursuant to the requirements of the Act, our responsibility is to express a limited assurance whether in respect of Project - Atharva Heights: a. The details of amount collected from allottees, deposit in and withdrawal from Designated RERA Bank Account have been accurately extracted from the books of accounts and other relevant records underlying the audited financial statements of the Company as at and for the year ended March 31, 2022; b. The required proportion of money collected from allottees of the project units, as specified in the Act, has been deposited in the Designated RERA Bank Account; c. The amounts withdrawn as at and during the financial year ended March 31, 2022 from Designated RERA Bank Account were within the withdrawal limit certified in Form 3 which is submitted by the Company to Maharashtra Real Estate Regulatory Authority; d. The Company has utilized the amounts withdrawn from Designated RERA Bank Account towards the project cost as specified in the Act. IV. The financial statements of the Company as at and for the year ended March 31, 2022, have been audited by us, on which we have issued an unmodified audit opinion vide our report dated May 24, 2022. Our audit of these financial statements was conducted in accordance with the Standards of Auditing, issued by the Institute of Chartered Accountants of India (ICAl) and in accordance with the accounting principles generally accepted in India. 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 , .\" ._------__n, , N!AJI - V. We conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised) issued by the Institute of Chartered Accountants of India. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. VI. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. VII. The procedures performed vary in nature and timing from, and are less extent than for, a reasonable assurance and consequently, the level of assurance obtained is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. We have performed the following procedures in relation to the Statement: a. Verified the Project Name, Registration Number, and Location of the Project from Project Registration Certificate - Form C dated March 27, 2018 issued by the Maharashtra Real Estate Regulatory Authority. b. Verified the eligible amount of withdrawal from the Designated RERA Bank Account from Form 3 submitted by the Company to Maharashtra Real Estate Regulatory Authority for the financial year ended March 31, 2022 and traced the amount withdrawn by the Company till March 31, 2022 from the said Form 3. We have relied on the said form and accordingly no audit procedures have been performed in respect of the same. c. Traced the balances in Designated Bank account from the balance as per the audited books of accounts subject to reconciliation with bank statements and other records maintained by the Company. d. Traced the amount collected for the financial year i.e. April 01, 2021 to March 31, 2022 from the books of accounts and underlying records maintained by the Company. - p e. Verified the arithmetical accuracy of the Statement. f. Performed necessary inquiries with and obtained necessary representations from the Company. Restriction on Use VIII. The Report is addressed to and provided to the Directors of the Company solely in connection with the project fund deposit, utilization & withdrawal by VIVA Highways Limited for the period from 01.04.2021 to 31.03.2022 with respect to MahaRERA Registration Number P51600015843 (Project - Atharva Heights) and is not to be used or referred to for any other purpose or distributed to anyone other than submission to the Maharashtra Real Estate Regulatory Authority. Accordingly, we do not accept or assume any liability or any duty of care or for any other purpose or to any other party to whom it is shown or into whose hands it may come without our prior consent in writing. For Pravin R. Rathi and Associates Chartered Accountants - Rath&Asso ,. fiRN-131494 '%I ASH I K Aclitya P. Rathi Partner M. No. - 141268 UDIN: 22141268BE10YD5261 Date: 30.09.2022