Annexure F rORM S (See Regulation 4) ON THE LETTERHEAD OF CHARTERED ACCOUNTANT (WHO IS ANNUAL AUDITOR OF THE PROMOTER'S COMPANY/FIRM) ANNUAL REPORT ONSTATEMENT O ACCOUNTS CHARI'ERED ACCOUNTANT"sCERTIFICATE (On Letter Hcad) Date: 30/09/2024 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 01-04-2023 to 31-03-2024 with respect to MahaRERARegn Number PS1600015843 Project "Atharva Heights" 1. This certificate is issued in accordance with 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 Interestand Disclosures on Website) Rules 2017. 2. /We have obtained all necessary information and explanation from the Promoter, during the course of our audit, which in my/our opinion are necessary for the purpose of this certificate. 3. /We hereby confirm that /We have cxamined the prescribed registers, books and documents, and the relevant records of (Promoter) for the period ended 31t March 2024 and hereby certify that: A. Deposits: Total for this S. For this Fiscal Partlcular project tlI No. year 31.03.24 1 Totalamount collected from allottees 45,95,87,456 189,046,255 %of amount to be deposlted as per act 70% 70% 2 3 Amount to be deposlted as per act (1 2) 32,17,11,219 132,332,379 Total amount deposited In the Deslgnated Bank 4 42,32,84,343 Account Rathi&As 174,220,944 5 %of Amount deposlted ip ehated Bank ACCOM 92% 92% (4)/1)*100) FRN-13494W 6 Shortfal/ Excess deposit NASI|K Chartered AccotaS 41,888,565 -10,15,73,124 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 the project units, as specified in the act, deposited in the Designated RERA Bank Account? (Yes / Ne) If No, Please mention the amount not deposited. B. Withdrawals Total for this For this Fiscal year project till S. No Particular (Federal Ac 4612 ) 31.03.24 Opening Balance of Designated Bank Account 350,000 200,702 2 Total Deposits 174,220,944 423,284,343 3 Total amount withdrawn -173,592,232 -422,500,613 Total Bank Charges -5,720 5 Closing Balance 978,712 978,712 As specified in the Act, All the amounts withdrawn during the year from RERA Bank Account were within the withdrawal limit as certified under the relevant Form I, Form 2 and Form 3 issued during the reporting period? (Yes / Ne) If No, Please provide the below details: S. No Date of withdrawal Amount of Excess Withdrawals 1. C. Utilization UWe 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 derails: S. No Date Amount not utilized for Refer note no 1 ProjectCost 1. ! R.Rathi&Associate ravin FRN-A31484w Chartered Accountants D.Any Qualifications /Observations of CA 1. In view of the clarification issued by MAHA RERA vide circular no. 7/2017 dtd. : 04.07.2017, asserting the fact that there is no end use restriction on the amount which is withdrawn from the designated bank account, we have not checked if the funds withdrawn from the designated bank account have only been utilised for the purpose of the project. 2. Also, refer Annexure Ito this report. For Pravin R Rathi & Associates Agree &Accepted By : Chartered Accountants Firm Registration No. 131494W oravin .Rathi &Associ Anup S. Katariya FRN-131494W Director NASHIK DIN:08574432 Chartered Accountan (Aditya PravinRathi) Name of the Signatory UDIN: 24141268BKDHKY4045 Full Address: Pravin R Rathi & Associates Rathi Nagar, Behind Tupsakhre Lawns, Near Mahindra Children Traffic Park, New Tidke Colony, Nashik- 422 002 MRN-141268 Contact No. 8380067893 Email:prathica@gmail.com Pravin R. Rathi& Associates Rathi Nagar, Back of Mahindra Chilldren's Traffic Park, Behind Tupsakhre Lawns, Nashik- 422002 Email ID: prrathica @gmail.com, Mob. No: 8380067893 Annexure I : Report on Statement of Accounts on project fund deposit, utilization and withdrawal by Viva Highways Limited Limited for the period from 01.04.2023 to 31.03.2024 with respect to MahaRERA Registration Number P51600015843 (Project - Atharva Heights) I. The accompanying Statement of Accounts on project fund deposit, utilization and withdrawal by the company for the period from April 1, 2023 to March 31, 2024 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'sResponsibility 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. ravi Rn Rathi ASsociale FRN-1991 NAHI Chartereo Accountants 2. Complying with the Act and other applicable rules/ regulations/ notifications/ circulars issued thereon from time to time. Auditor's Responsibility III. 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, 2024; 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 from 01.04.2023 to 31.03.2024 from the 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, 2024, have been audited by us, on which we have issued our report dated May 21, 2024. Our audit of these financial statements was conducted in accordance with the Standards of Auditing, issued by the Institute of Chartered Accountants of India (ICAI) 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 misstatement. oravin R. Rathi&ASSOCia(e: FRN-1Z14 Chartered Accounta 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. requirements of the VI. We have complied with the relevant applicable Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical FinancialInformation, and Other Assurance and Related Services Engagements. from, and are VII. The proOcedures performed vary in nature and timing consequently, the less extent than for, a reasonable assurance and the assurance than level of assurance obtained is substantially alower reasonable assurance that would have been obtained had following engagement been performed. We have performed the procedures in relation to the Statement: Location of a. Verified the Project Name, Registration Number, and dated the Project from Project Registration Certificate - Form C March 27, 2018 issued by the Maharashtra Real Estate Regulatory Authority. b, Verified the amount collected from the allottees during the financial year i.e. 01.04.2023 to 31.03.2024 from the books of accounts and underlying records maintained by the company. C. Verified the amount deposited in the designated bank account in FY 2023-24 from the books of accounts and the underlying records maintained by the company. d. Verified the eligible amount of withdrawal from the Designated RERA Bank Account from Form 3submitted by the company to Maharashtra Real Estate Regulatory Authority for the financial year ended March 31, 2024 and verified the amount withdrawn by the company till March 31, 2024 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. Pravin R. Rathi ASsOciate FRN-149AVW NASHK Chartered Accountanl e. Verified 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. f. Verified the arithmetical accuracy of the Statement. g. Performed necessary inquiries with and obtained necessary representations from the company. VIII. In light of the clarification issued by MAHA RERA via Circular No. 7/2017 dated: 04.07.2017, stating that there is no end-use restriction on the funds withdrawn from the designated bank account, we have not verified whether the withdrawn funds have been exclusively used for the project's purpose. Furthermore, from the books of accounts, account the purpose of the fund utilisation from the designated bank cannot be determined. Restriction on Use IX. The Report is addressed to and provided to the management of the company solely in connection with the purpose mentioned in Para I above 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. Rathiand Associates Chartered Accountants Pravin R. Rathi, & FRN-131494W NASHIK As ocia Aditya PRathi Chartered ACcountanl Partner M. No, - 141268 UDIN :24141268BKDHKY4045 Date :30/09/2024