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                                                 FORM 5
                                      [See Section 4(21(IXDI]
                       Annual Report on Statement of Accounts

      To,

         POOJA DEVELOPERS,
         NASHII(

         SUBJECT: Report on Statement of Accounts on "Silicon Business Centre"
         fund utilization and withdrawal by PooJa Developers for the period from
         April 2O2O to March 2O2l with respect to project MahaRERA Regn, Number
      P5160002L948.

         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 Interest and
         l)isclosures on Wcbsite) Itules, 2017.

         2. We have obtained all necessa-q/ information and explanation from the
         Promoter, during the course of our audit, which in our opinion are necessarl-
      for the purpose of this certificate.
      3. We hereby confirm that u'e have examined the prescritled registers. books
      and documents, and the relevant records of POOJA DEVELOPERS for the
      period ended MARCH 2O2l and hereby certify that:

      i. POOJA DEVELOPERS have completed 460/0 (Till MARCH 2O2l) of the
      project titled (SILICON BUSINESS CENTRE" MahaRERA Registration No.
      P51600021948,located at Plot No. 3 & 4. S.No. 6l6I1, Pat.hardi Shirnar,
      Near Amit Eka, Indira Nagar- Pathardi Road. Nashik-422010.

      ii. Amount collected during the period ,{pnl 2020 to March 2O2I for this
      project In Specified designated A/c Rs. 5O,48,OOO/-(out of which Rs.
      5,58,OOO/- pertains to GST collected from buyers and Rs. 44,96'00O/- is
      collected towards sales consideration. Agreement to sale is made in
      respect of Rs. 38,96,00O/- is entered into and of balance Rs. 6,00,000/-
      is not yet entered as amount collected is less than 10% of sales
      consideration mutually agreed upon by the buyer and the seller) ,In
                                                                          I

I




    other than specified designated A/c Rs. O Total 50,48,OOO/-and amounts
    collected till date From the start of the project till March 2O2L is Rs.
    1,06,L4,44O1-.
    iii. Amount withdrawn during the period Aprtl 2020 to Mart.;h 2O2l for this
    project f'rom Specified designated A/c Rs. 66,6L,6561', and amount
    withdrawn till date from start of the project up to March 2C)21 is
    Rs.1, L7,44,827 l-*.

    4. We certify that the Pooja Developers has utilized the amounts collected for
    ,,Silicon Business Centret' project only for that pro.ject and thc withdrawal
    from tht.r clesignat.cd bank account(s) of thc said pro.ject has bt:en in
    accordance with t.he proporl.ion to the perr:cnt.agc of completion of the project.


    Place: Nasik


          Notes to Audit Report:

            I.     Estimated cost for the calculation of percentage of completion is given
                   by the management of the Promoter.
           II.     Percentage of completion of project is calculated as per actual cosl
                   incurred as per books of accounts divided by the total estimated cost oi
                   project to complete the project. In calculating the estimated cost of the
                   project the indexed cost of land was considered as per the preYailing
                   RFIRA law in force. Latetr thc RERA law was amended and as per the
                   amended law ASR values were to be considered for calculating
                   estimated cost of the project. The management has calculated rhe
                   percentage completion of the project considering the tndexed cost of the
                   project to maintain the consistency. Even though the ASR values are
                   considered for the purpose of percentage completi<tn calculation there
                   would be marginal impact on the withdrawable limit, but still the
                   actual amount rvithdrau'n is much lower than withdrawable limit
           IIL     As per the reporting requirements of Form 5, in point 3(ii), the auditor
                   is required to state "Amount collected in specified designated account"
                    during the Audit period April 2020 to March 2021 for the project. The
                    definition of the term "Collect" has not been defined in the MAIIA RLIRA
                   Act and the regulations made thcreunder. Moreover, the said term is
                    not dehned in the General Clauses Acl,2Ol7. Ttrus, wllen a particular
                    term is not defined in the governing statute and in the General Clauses
                     Act, 1977 one has to consider its definition as per the common
                    parlance and as per various recognised dictionaries. As per the
                    common parlance of the term and as per Black Law',s dictionary the
                    meaning of term "Collect" means to gather together; to bring scattered
                    things (assets, accounts, articles of property) into one mass or fund,
                    Thus, it can be inferrecl that the amount receivcd from r:ustomr:rs will
       be considered as the amount collected as a fund and will form part of
       amount "Collected" for Form 5 reporting purposes. Whereas, the
       arnount introduced by the partners in the business is tr:rmecl as
       Capital as per the generally acceptecl principles of ar;counting. It does
       not form part of the term Collected.'l'hus, whik-. reporting for the sum
       of Amount Collected in the aforesaid point we have not considered the
       amount of money introduced in the business by the partners. Similar
       practice was followed during the previous financial year i.e. F.Y. 2019-
       20.
IV.    Moreover, it is required to be reported the amount withdrawn during
       Aprll2O2O to March 2021 in point 3(iii) of Form 5. We have considered
       the entire amount withdrawn from thc dcsigrratcd bank account and
       thus includes the partners'own funds as well. Detailed working in this
       regard is explained vide table below. Similar practice was foilowed
       during the previous financial year i.e. F.Y. 2019-20.

      Calculation of withdrawal if owners fund infused
      specifically into designated at:count ancl lrsecl for project
      are not <:onsiclered as w,ithdrawal
      FY              A/c No.-12       Alc No-l4       'Iotal
      2019-20             14,52,419       36,30,752         50,83,171

      Capital
      introduced
      and
      rvithdrawn           -1,84,000   10,00,0m

      Net
      withdrar,r'al
      of
      customers
      money               12,68,419       26,30,752         38,99,171
      2020-21             17,88,200       48,73,456         66,61,656
                          'I'otal                          "t05,60,827



      Calculation of rvithdrawal if owners fund Lnfused
      specifically into designated account and used for project
      are considered as withdrar,val
      FY              A/c No.-12       A/c No-14       Total
      2019-20             74,52,419       36,30,752         50,83,171
      2020-21             77,88.200       48,73,456         66,61,656
                          Total                            117,44,827


V.    The amount stated towards GST collected from buyers is based on the
      books of accounts produced before us by the management of the client.
            We have not verified GST returns which might
            client in this regard.
      VI.   We have verified the transaction on test check


For,
Ketan V Jategaonkar
Chartered Accountants
                Digitally signed
Keta n Vij ay
            ilt-:1':li,;:;
Jategao;'1[ Jatesaonkar
                Date:2021.09
ar              20:58;33 r05'30'

CA Ketan V.Iategaonkar
M.No. 179125
Place- Nashik
Date- 30.O9.2O2L
UDIN- 2LL79 125AAAABD7 L79