Form 5 ANNUAL REPORT ON STATEMENT OF ACCOUNTS CHARTERED ACCOUNTANT’S CERTIFICATE To Alag Property Constructions Pvt. Ltd. 6, BPS Plaza, Devidayal Road, Near Bus Depot, Mulund (West) - 400080. SUBJECT: Report on Statement of Accounts on project fund deposit, utilization and withdrawal by Alag Property Constructions Pvt. Ltd. (promoter of the project "Alag Capital") for the period from 01/04/2019 to 31/03/2020 with respect to MahaRERA Regn Number - P51800020773. 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 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 our opinion are necessary for this certificate. 3. We hereby confirm that we have examined the prescribed registers, books and documents and the relevant records of Alag Property Constructions Pvt. Ltd. (promoter of the project "Alag Capital") for the period ended 31/03/2020 and hereby certify that: A. Deposits: Financial Year 2019- Till date i.e. S. No. Particulars 20 (31/03/2020) 1 Total amount collected from allottees 2,08,37,145 2,47,97,145 2 % of amount to be deposited as per act 70% 70% 3 Amount to be deposited as per act (1*2) 1,45,86,002 1,73,58,002 4 Total amount deposited in the Designated Bank 3,17,10,000 3,17,10,000 % of amount deposited in the Designated Bank 5 152.18% 127.88% Account [(4)/(1)*100] 6 Shortfall/Excess deposit (3-4) (1,71,23,999) (1,43,51,999) 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, Excess deposit in designated RERA Account is due to certain unsecured loans been accepted in RERA Master collection Account. If No, Please mention the amount not deposited. B. Withdrawals: Financial Year 2019- Till date i.e. S. No. Particulars 20 (31/03/2020) 1 Opening Balance of Designated BankAccount - - 2 Total Deposits 3,17,10,000 3,17,10,000 3 Total Amount withdrawn 3,17,00,000 3,17,00,000 4 Closing Balance 10,000 10,000 As specified in the Act, all the amounts withdrawn during the year from RERA Bank Account were within the withdrawal limit as certified under the relevant Form 1, Form 2 and Form 3 issued during the reporting period? (Yes/No) If No, please provide the below details:- S. Amount of Excess Date of withdrawal No. Withdrawals 1 C. Utilisation: We certify that, Alag Property Constructions Pvt. Ltd. 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 utilized S. No. Date for Project Cost 1 Refer Observation No. 3 D. Any Qualifications/Observations of CA: The project's commencement date is established in accordance with the RERA Certificate issued by 1 MahaRERA, dated May 09th, 2019. The Total funds collected from allottees have been derived from the unaudited books of accounts, as presented by the management of the promoter. On a comprehensive assessment of the promoter's books of 2 accounts, it has come to light that the promoter is adhering to the stipulation of maintaining a distinct Designated RERA Bank account for the project in HDFC Bank bearing account number 50200040577363, as mandated by Section 4(2)(l)(D) of the Act. As per self-certification obtained from the management, the amounts withdrawn from the designated bank account are utilized towards project cost only. However, it is not possible for us to verify the end use of funds withdrawn from designated bank account on one-to-one basis since the requisite record for such 3 verification is not available with us. But while certifying on utilization, we have relied on the expenditure as per books of accounts produced before us which shows that the expenditures incurred on the project are more than total amount collected till the end of the period on cumulative basis. For M/s N B Sayed & Associates Chartered Accountant FRN :-161797W Digitally signed by NUSRAT NUSRAT BANU SAYED BANU SAYED Date: 2025.01.04 15:48:18 +05'30' CA Nusrat Banu Sayed M.No. 631662 Date : 04-01-2025 Place: Mumbai UDIN :- 25631662BMIMTU3686 Project Name - Alag Capital Annexure A (Reasons for Shortfall/(Excess Deposi) In Designated RERA Account. Financial Year Till date i.e. 2019-20 (31/03/2020) Particulars Shortfall / Excess Shortfall / Excess Deposit Deposit (70%) (70%) A. Other than Customer Receipts deposited in Master Collection Account. (3,76,40,999) (3,76,40,999) Sub-Total(A) (3,76,40,999) (3,76,40,999) B. Receipts from Customer in Current Account. 2,17,70,000 2,49,20,000 Sub-Total(B) 2,17,70,000 2,49,20,000 C. Pass through Charges, Indirect Taxes adjusted against advances received in Master Collection Account (12,53,000) (16,31,000) Sub-Total(C) (12,53,000) (16,31,000) Total Shortfall / Excess Deposit (1,71,23,999) (1,43,51,999) (70%) (A+B+C)