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Sr. The Key Audit matters How our audit addressed the key
No. audit matter / Auditor's Response

Refer Note No 40 to the Consolidated
Financial Statement regarding
contingent liabilities.

6. I m p a c t o f C OV I D - 1 9 o n t h e
C o m p a n y ' s o p e r a t i o n s a n d Our audit procedures included and were not
consolidated nancial statement. limited to the following:
- Obtained and reviewed the management impact
On 11 March 2020, the World Health assessment on account of reduction in revenue
Organisation declared the Novel during current nancial year, including
Coronavirus (COVID-19) outbreak to judgement and estimates applied in determining
be a pandemic. the areas of impact.

The outbreak of Corona virus (COVID- - Assessed the determination of impact on trafc
19) pandemic in India has resulted in a earnings on account of travel restrictions due to
nationwide lock down and travel nationwide lockdown consequent to COVID-19.
restriction by the Government of India - Assessed the determination of reduction in direct
which has signicantly impacted operating expenses during lockdown period
business operation of the Corporation. consequent to COVID-19.

- Assessment of how the management has
We have identied the impact of, and
uncertainty related to the COVID-19 factored the deterioration in the overall economic
pandemic as a key event and environment arising from COVID-19.
consideration for Company's - Assessed management's cost reduction
Operations on account of: measures taken by the company in order to
reduce the impact COVID-19.
- Short and long term effect on - Assessed and evaluated the possible recovery in
company's business operations and other operating segment apart from open line
its consequential rst order and operations i.e. Project revenue.
cascading negative impact on
revenue; - Assessed and evaluated expenditure incurred
towards preventive health measures as an
- impact of the pandemic on the additional cost for prevention of COVID-19.
Revenue and Expenses; and - Performed subsequent event procedures upto
the date of the audit report.
- Assessed and tested the disclosure relating to
COVID-19 Impact on nancial position for FY 19-
20 and for the period April'20 to 25th July'20.

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