To,

Suresh Surana & Associates LLP

Chartered Accountants

As mentioned in your communication to us, I, the undersigned, have noted that Suresh Surana & Associates LLP have been / or being appointed as statutory auditor of following companies, which are either listed on stock exchanges in India or abroad and /or are covered under Rule 3 of NFRA*:

* Rule 3. Classes of companies and bodies corporate governed by the Authority: ─ 

(1) The Authority shall have power to monitor and enforce compliance with accounting standards and auditing standards, oversee the quality of service under sub-section 

(2) of section 132 or undertake investigation under sub-section (4) of such section of the auditors of the following class of companies and bodies corporate, namely: - 

(a) companies whose securities are listed on any stock exchange in India or outside India; 

(b) unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annual turnover of not less than rupees one thousand crores or having, in aggregate, outstanding loans, debentures and deposits of not less than rupees five hundred crores as on the 31st March of immediately preceding financial year; 

(c) insurance companies, banking companies, companies engaged in the generation or supply of electricity, companies governed by any special Act for the time being in force or bodies corporate incorporated by an Act in accordance with clauses (b), (c), (d), (e) and (f) of sub-section (4) of section 1 of the Act; 

(d) any body corporate or company or person, or any class of bodies corporate or companies or persons, on a reference made to the Authority by the Central Government in public interest; and 

(e) a body corporate incorporated or registered outside India, which is a subsidiary or associate company of any company or body corporate incorporated or registered in India as referred to in clauses (a) to (d), if the income or networth of such subsidiary or associate company exceeds twenty per cent. of the consolidated income or consolidated networth of such company or the body corporate, as the case may be, referred to in clauses (a) to (d). 

CONFIRMATION OF COMPLIANCE WITH ETHICAL REQUIREMENTS AND INDEPENDENCE POLICIES

I the undersign confirm that:

I have read SSA’s Independence & Ethics Policies and understand their applicability to me.

I am in compliance with the ethical requirements, including applicable independence rules with respect to the companies listed above and all of their related entities as follows:

1. I am independent in accordance with the independence requirements of Suresh Surana & Associates LLP, the Standards on Auditing in India and the Companies Act, 2013.

2. I am not aware of any past or existing professional services, business arrangements or alliances between me and the entities indicated on the attached listing that would impair independence.

3. None of my families (family will include besides spouse, only children, parents, brothers, sisters or any of them who are wholly or mainly dependent on me) or myself have been declared as wilful defaulter by any bank / financial institution. 

4. Further I confirm that-

5. None of my relative or myself is holding any security of or interest in the companies listed above and all of their related entities that would impair independence.

6. None of my relative or myself is indebted to companies listed above and all of their related entities, for an amount exceeding Rs. 5 lakh or has given any guarantee or security in connection with the indebtedness of any third person for any amount exceeding Rs. 1 lakh.

7. None of my relative or myself is a director OR hold key management position/office OR is in the employment of the above companies OR was a director / key management personnel of the above companies during the past 12 months.

8. I also undertake to immediately report any incidence of conflict that I may come across.