Easy Trip Planners Limited — Audit Report / Information 2021

Apr 20, 2021

Date: March 24, 2021

To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Department of Corporate Services Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers, Bandra Kurla Complex

Dalal Street, Fort,Mumbai - 400 001 Bandra (E), Mumbai – 400 051

Symbol: EASEMYTRIP, Scrip Code: 543272 ISIN: INE07O001018

Dear Sir/ Madam,

Sub.: Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 w.r.t. appointment of Internal Auditor and Secretarial Auditor of the Company

With reference to the captioned subject, please be informed that the Board of Directors of the Company at their meeting held on Monday, April 19, 2021 through audio/video conference, inter alia considered and approved the following viz.:

1. Appointment of Crowe Advisory Services (India) LLP (LLPIN: AAO-5909), Chartered Accountants, Mumbai as Internal Auditor of the Company for F.Y. 2020-21 and F.Y. 2021-22. Brief Profile attached as Annexure 1

2. Appointment of S. Anantha and Ved LLP (LLPIN: AAH-8229), Practicing Company Secretaries, Mumbai as Secretarial Auditor of the Company for F.Y. 2020-21 and F.Y. 2021-22. Brief Profile attached as Annexure 2

The aforesaid information will also be hosted on the website of the Company at www.easemytrip.com

Please take the same on your record.

Thanking you, For Easy Trip Planners Limited (Formerly Known as "Easy Trip Planners Private Limited")

Preeti Sharma Company Secretary & Compliance Officer M. No. 34417

Easy Trip Planners Limited

Head Office :Building No 223, Patparganj Industrial Area, Patparganj, New Delhi, Delhi 110092 Phone : +91 - 11 - 43030303, 43131313 E-mail : support@easemytrip.comWeb : www.EaseMyTrip.com| CIN No. U63090DL2008PLC17904 '

IRCTC

Crowe Advisory Services (India) LLP LLP Identification No. AAO-5909 1105, Embassy Centre Nariman Point Mumbai 400 021 India Main +91 (22) 6631 1480 consult@crowe.in www.crowe.in

15 April 2021

Mr. Ashish Bansal, Chief Financial Officer, Easy My Trip Planners Ltd., 223, FIE, Patparganj Industrial Area, East Delhi – 110092, INDIA

Dear Sir,

Ease My Trip Planners Ltd: Appointment of Internal Auditor for the period Jan'21 to Mar'21 (Q4) for the Financial Year 2020-21

We are pleased to provide to provide our consent to be appointed as Internal Auditor for Easy My Trip Planners Ltd. to cover Q4 of financial year 2020-21.

In this connection, we confirm that:

• 1. We are qualified under the Companies Act, 2013 to be appointed as internal auditor, to the best of our knowledge and information made available to us.
• 1. We are an independent entity from your Company and its subsidiaries and our appointment, as internal auditor will not cause any independence or conflict of interest.
• 1. The audits shall be carried out per the engagement scope and periodicity as set out in the engagement letter, and as may be agreed with the management from time to time.

We look forward to working with your organization.

Yours faithfully

For Crowe Advisory Services (India) LLP

Vijay Thacker Partner & CEO

Crowe Advisory Services (India) LLP LLP Identification No. AAO-5909 1105, Embassy Centre Nariman Point Mumbai 400 021 India Main +91 (22) 6631 1480 consult@crowe.in www.crowe.in

15 April 2021

Mr. Ashish Bansal, Chief Financial Officer, Easy My Trip Planners Ltd., 223, FIE, Patparganj Industrial Area, East Delhi – 110092, INDIA

Dear Sir,

Ease My Trip Planners Ltd: Appointment of Internal Auditor for the Financial Year 2021-22

We are pleased to provide to provide our consent to be appointed as Internal Auditor for Easy My Trip Planners Ltd. for financial year 2021-22.

In this connection, we confirm that:

• 1. We are qualified under the Companies Act, 2013 to be appointed as internal auditor, to the best of our knowledge and information made available to us.
• 1. We are an independent entity from your Company and its subsidiaries and our appointment, as internal auditor will not cause any independence or conflict of interest.
• 1. The audits shall be carried out per the engagement scope and periodicity as set out in the engagement letter, and as may be agreed with the management from time to time.

We look forward to working with your organization.

Yours faithfully

For Crowe Advisory Services (India) LLP

Vijay Thacker Partner & CEO

Internal Audit Proposal Ease MyTrip (Easy Trip Planners Ltd.)

Crowe Advisory Services (India) LLP

© 2019 Crowe Advisory Services (India) LLP ¹

Firm Introduction

• Experienced teams to assist your needs for
• Corporate finance advisory
• Risk consulting
• Tax advisory and compliance
• Digital Security
• Data Sciences
• Business process outsourcing
• Offices in 8 Indian cities
• Crowe India (includes network accounting firm) has 36 directors / partners; over 1,800 staff
• Member of Crowe Global since 1999

Network Facts & Figures

• 41,097 Total People
• 31,973 Professionals 5,481 Administrative Staff
• 3,643 Partners
• 765 Offices 146 Countries
• 4.4b US\$ Global Revenue 8th Largest Global Accounting Network

Internal Audit and Risk Advisory

• An important control medium; a key defence against various risks
• Enterprise Risk; Regulatory Risk; Financial and Operational Risk; Fraud Risk
• Internal Audit helps
• Satisfy effectiveness of controls, and reliability of reporting
• Identify improvement needs and potential
• Risk Advisory is preventive and / or curative
• Helps identify business level / business line risks and correctives
• Enables enhanced governance

Internal Audit and Risk Advisory Benefits

• Identify, understand and mitigate key risks
• More 'risk-informed' decision making
• Improved operational performance
• Holistic overview, amidst divergent demands and objectives
• Increased shareholder value, effective governance
• Enhanced competitive advantage
• Reduced compliance surprises & costs

Typical audit issues for Online Travel Agency Business illustrative

• Revenue inaccurate recognition and accounting, leakages, unauthorized changes, incorrect price/ contents updated
• Accounts Receivable reconciliation issues, short recovery, uncleared aged items, balance confirmation
• Payment Gateway incorrect expense recording, authorization issue
• Vendor Master incomplete vendor master, agreement legal vetting process is not robust, duplicity in vendor master, MSMED compliance, approved vendor list
• Accounts Payable inaccurate balance reflecting, aged vendor balances not recovered, authorization issue, litigations, unauthorized advance payments
• Fixed Assets weak control over FA register, tagging and classification issues, depreciation, impairment
• Payroll and HR inaccurate employee master, dummy employee, employee master not in sync with payroll records, unauthorized leaves, inaccurate F&F, inaccurate variable, bonus

How we can help

• Assessing key risks: Strategic; Operations; Compliance and Reporting
• Adding value: enhance processes; optimize costs
• Review & Strengthen: governance and compliance, while reducing risks
• Assistance: implementing risk management for improved performance
• Monitoring: risk management effectiveness, with internal / external benchmarks
• Compliance: with regulatory and business expectations of internal audit

Internal Audit Methodology

• Risk based approach based on assessment of materiality and risk
• Risk assessment will be based on
• Materiality
• Risk Control Matrix prepared by company
• Sample selection will ensure coverage of all major operating activities; additional sample coverage, as required, based on observed / perceived risk
• Financial transaction aspects largely covered through above stated processes

The Assignment

⁹ ©

Our Understanding

• EMT is one of the topmost travel companies in India
• Listed on the stock market
• Ranked 2nd amongst the key online travel agencies in India
• Offer services like Flight tickets, Hotel booking, Holiday packages, Visa assistance, Train & Bus Tickets etc.
• Provides services to B2B, B2C, B2E
• Strong network base of more than 50,000 agents and 8.81 millions direct customer base

Audit Processes

• Systems and controls
• Understanding client ERP systems, and processes
• Compliance Testing
• Substantive testing
• Remediation recommendations and testing
• Benchmarking to company policy / good practice standards

Covers

• Physical and digital processes and documents
• Income, expenses, assets and liabilities
• Technology use

Proposed Quarter Wise Internal Audit Scope for the FY 21-22

Q1	Q2	Q3	Q4
(Apr to Jun'	(Jul to Sep'	(Oct to Dec'	(Jan to Mar'
2021)	2021)	2021)	2022)
• Ticketing revenue from booking, cancellation, revenue recognition and refund process • Payment gateway and airline expense booking, approval, payment and reconciliation process	• Hotel revenue • Revenue earned from performance link bonus (volume discounts) • Review of computation, calculation, estimation, contract process	• Depository and other incentive income • Revenue from Tour and Travel such as Bus/Train Booking, Visa • Ancillary revenue & Unclaimed refunds process • Trade Expenses booking, approval, payment process	• Investment income such as Fixed Deposit, Mutual fund • Fixed Assets • Accounts Receivable & Accounts Payable - Reconciliation, Balance confirmation process, Ageing, Settlement 12

Experience in the technology/ internet sector – our firm / network accounting firm / team members

• Sonata Software
• 3i Infotech and Regulus
• Wipro
• Omega Healthcare
• Mmodal
• Nutanix
• Brennan IT

• Syntel India / Syntel Inc

• Authorgen Group

• Mahindra Comviva
• Lenskart
• Scoop Whoop
• Quasar Media
• Culture Machine
• Agoda
• Hike
• MakeMyTrip (handled by independent network accounting firm)

Internal Audit – Period, Fees, Team

Period of coverage

Quarterly Audits for the Financial Year 2021-22

Fees

• Our fees for the scope would be Rs. 920,000 (i.e. Rs. 230,000 per quarter) for the internal audit scope
• Out of pocket expenses, GST shall be additional, as applicable

Team

• Professionals with internal audit experience
• Led by Manager/ Director
• Teams based in Delhi, Mumbai etc.

Our Report

• Observations discussed at unit level; unit management responses documented
• Audit report to management
• In PPT format, unless otherwise requested
• Comprises 2 parts key observations for top management and Board; other observations for operating level improvements
• Key observations are significant items requiring senior management attention
• Other observations are matters requiring management attention, but not being substantive enough for reference to senior management

Potential Extension – SOP and IFC

¹⁶ ©

Standard Operating Procedure (SOP) – Approach

© 2019 Crowe Advisory Services (India) LLP ¹⁷

SOP – Approach

Guidance

• Scope defines the scope of the process in terms of locations, products, categories etc.
• Objective defines the objective of the process
• Policy/Guidelines Considers Policies and Guidelines that govern the process
• Key Inputs Lists the key inputs/information required for the process to work
• Process Milestones Key outputs generated by the process at important stages
• Exceptions clearly identifies the exceptions to which the process shall not apply
• Risk Control Matrix – Defines the Key Risks, Controls and Tolerance level for the process

Control

• MIS to measure Process KPIs (Process Objective linked)
• Monitoring Mechanism Lays down the review mechanism (example fiscal review)

Process

• Activity Flow the actual process flow in a structured form
• Formats We will define the relevant formats used in the process (Example Capex approval form)
• Related SOPs other processes that impact the process or get impacted
• Standard Abbreviations, Annexure Self-explanatory

Internal Financial Control (IFC) – Testing & Augmentation

IT Review/ Audit

IT & ERP have become critical for organizational success. Through our review, we checked ITGC Controls, SOD conflicts, we could identify gaps and provide valuable insights regarding improvement opportunities in the control environment as well as control efficiencies.

Select Experience – Audit, Assurance & Taxation (including through network accounting firms)

Telecommunication & Technology ▪ Bharti Airtel ▪ Beetel Teletech (Brightstar) ▪ Bharti Infratel ▪ Alcatel Lucent ▪ Frog Cellsat ▪ Smile Group	Internet Companies ▪Hike ▪ Scoop Whoop ▪ Culture Machine	Healthcare ▪ Radiant Group ▪ BLK and Nanavati Hospitals
	▪ MakeMyTrip	Oil Drilling Equipment ▪ Botil Oil Tools
	Training & Skilling ▪ Centum Learning ▪ Centum Workskills	Automotive & Electrical ▪Hero Group ▪ C & S Electric Group ▪ Lumax Group ▪ Metro Group ▪ Talbros Automotive
Agri - business & Food ▪ Triveni Engineering ▪IFFCO ▪ Field Fresh Foods ▪ Kwality Catering ▪ Yum Yum Cha ▪ Pizza Express/ Ministry of Crab/ Chillis	▪ Telecom Sector Skill Council ▪ LNJ Institute of Skills and Technology
	Retail ▪Walmart India ▪ Future Retail	▪ Trelleborg Automotive ▪ Machino Polymers ▪ Eon Electric
▪ Paul/ Aunt Anne/ Cinnabon Paints	Real Estate & Ancillary ▪ Eros Group	Renewable Energy ▪ SB Energy
▪ Berger Paints Group ▪ Becker Industrial Coatings	▪ Bharti Realty ▪ Vectus Industries	▪ BLP Energy (Enel Green)
© 2019 Crowe Advisory Services (India) LLP	▪ Max Estates ▪ Emaar Properties	21

Select Experience – Audit, Assurance & Taxation (including through network accounting firms)

Aircraft & Technology ▪Dassault Systems ▪ Forcepoint Software Banking ▪ Central Bank of India ▪United Bank of India ▪ Andhra Bank ▪Indian Bank ▪ Bank of Maharashtra ▪ State Bank of India	PSU Clients ▪ Bharat Sanchar Nigam Ltd ▪ Bharat Heavy Electricals Ltd ▪ Engineering Projects India Ltd ▪National Small Industries Ltd ▪Delhi State Civil Supplies Corp. ▪ Central Electronics Limited ▪ Engineers India Limited ▪ POSOCO (Subsidiary of Power Grid) ▪ RITES Limited ▪ Software Technology Parks of India
Insurance ▪ Aviva Life Insurance Company India Ltd. ▪ Bharti Axa General Insurance Co. Ltd.	Fashion & Textiles ▪Giorgio Armani ▪Dealskart / Lenskart
▪IFFCO Tokio General Insurance Co. Ltd. ▪ Pramerica Life Insurance Co. Ltd. ▪DHFL General Insurance Co. Ltd	Hospitality ▪ Hotel Eros, New Delhi ▪Hotel Shangri la, New Delhi
	▪Hotel Radisson, Faridabad

Select Experience – Audit, Assurance & Taxation (including through network accounting firms)

ITES

• Pyramid IT
• Epay Systems
• Mahindra Comviva
• Authorgen Group

Engineering

• Triveni Turbine
• Veolia Water

Staffing/BPO Services

• Software Specialists
• ▪Ian Martin Consultants
• Pyramid IT
• Aegis Ltd.

Our International and JV Clientele

• SoftBank Japan
• AXA France
• Aviva Life Insurance UK
• Wal Mart USA
• Emerson France
• Phoenix Contact Germany
• Del Monte Foods Philippines
• Eltek Valere Norway
• C & S Himoinsa Spain
• C & S Efacec Portugal
• Forcepoint USA
• Lumax Industries Japan
• Sinoma Group China
• Dassault Aircraft France

OUR OFFICES

MUMBAI

1105 Embassy Centre 207 Nariman Point Mumbai 400 021 Tel: +91-22-66311480

PUNE

302, Ariana Lane 3, Shreenath Nagar, Baner Pune – 411 007 Tel: +91-8104218073

KOCHI

38/691, JDNT Tower, Surabhi Enclave, S A Road Kochi - 682 016, Kerala Tel: +91-484-2321669

consult@crowe.in

© 2019 Crowe Advisory Services (India) LLP

NOIDA

B - 5, Sector-6, Noida – 201 301 Tel: +91-120-4241000

AHMEDABAD

601, Samruddhi, Opp. Sakar III, Sattar Taluka Society, Ahmedabad - 380 014 Tel: +91-79-27544430

GURGAON

296 Udyog Vihar, Phase IV , Gurgaon 122001 Tel: +91-124-4646004

BENGALURU

No. 10 Trust Complex 2nd Floor, D. V. G. Road Basavanagudi Bengaluru – 560 004 Tel: +91-80-26622751

NEW DELHI

LGF 69-70 Vijaya Building 17 Barakhamba Road New Delhi – 110 001 Tel: +91-11-23321536

Company Secretaries « LLP ^IN : AAH - 8229 ^C - 316, 3rd Floor, Nirmal Avior - Galaxy LBS Marg, Mulund (W), Mumbai - 400 080 www .sanantha.com; info@sanantha.com Tel: (+91 22) 2591 3041

Date: 13™ April, 2021

To, The Board of Directors EASY TRIP PLANNERS LIMITED 223, FIE Patparganj Industrial Area, East Delhi, Delhi — 110 092

Dear ^Sir,

Sub: Consent ^{to a}c^{t as} Secretarial Auditors ^{of t}h^e Company ^fo^{r t}h^e Financial Year 2020-21 &2 021-22

This has reference ^to the telecon, the undersigned had with Ms. Preeti Sharma, on the captioned ^subject, regarding our appointment ^as Secretarial Auditors ^of your Company ^fo^{r t}h^e financial year 2020-21 & 2021-22.

We hereby give our consent ^{to a}c^{t as} Secretarial Auditors pursuant ^to Section 204(1) ^{of t}h^e Companies Act, 2013 read with ^th^e Companies (Appointment and Remuneration ^of Managerial Personnel) Rules, 2014.

We express our gratitude ^fo^{r t}h^e opportunity given ^{to u}s.

Thanking you

Yours Faithfully For ^S. Anantha & Ved LLP Company Secretaries

Sachin Sharma Designated Partner DIN: 08441791

P R O F I L E

Name of the Company	S. ANANTHA & VED LLP
Address	C-316, NIRMAL AVIOR-GALAXY, NEAR DEEP MANDIR THE L.B.S. MARG, MULUND WEST, MUMBAI – 400 080
Contact	• Cell: 98 33 77 00 11 • Phone: 02225913041; Fax: 022 2591 3051 • e-mail : incomes108@gmail.com; gains108@yahoo.com • website : www.aishcon.co
Designated Partners:	Mr. Dinesh Kumar Trivedi, ACS Mr. Sachin Hukumchand Sharma, B. Com, ACS
Panel of Associates and Advisors	Mr. Anantha Rama Subramanian, BBA, FCS, LLB Mrs. Jayanthi A. Subramanian, B. Com, ACA, ICWA Mr. Mahesh Janu Salpe, B. Com, CS- Inter

:2:
Nature of activities of the Company	A) Petition to High Courts with respect to Amalgamation and merger of companies, winding-up of companies, Demerger and reduction of capital of the company.
	B) Advisory Services relating to Public Issues (Initial Public Offers & Rights Issues – associated with around 100 IPOs and listing with the stock exchanges BSE & NSE and other Regional Stock Exchanges), Preferential Issues, Take-overs, Buy-backs, Implementation of ESOP, Listing / Delisting of shares with Stock Exchanges and Corporate Governance.
	C)Filing of returns with respect to creation/modification and satisfaction of charges with the Registrar of Companies, obtaining registration documents, Preparation of Search Report etc;
	D) Incorporation of Private, Public Limited Companies, Limited Liability Partnership, Conversion of LLP to Companies, creation and satisfaction of Charges, Change of name for various companies.
	E) Petitions to Regional Director for shifting of Registered Office and to Company Law Board for Compounding of Offences under Companies Act, condonation of delay in filing returns of creation / modification/ satisfaction of charges, Inspection / denial of inspection of statutory records;
	F) Certification of Annual Return and transfers of Unpaid Dividend etc. various companies to Central Government / Investor Education and Protection Fund & under the Listing Agreement of the Stock Exchanges.
	G) Remittance of proceeds to Foreign Companies on sale of shares / Refund of excess share application amount subsequent to allotment. Compliances under FEMA with respect to Foreign Direct Investments and incorporation of subsidiaries abroad.
	H) Compliance Certificate, Corporate Governance and other certifications under Listing Agreement and Secretarial Audit Report, in terms of Companies Act, Listing Agreement and SEBI Regulations.
	I) Scrutinizing Postal Ballot and e-Votingin AGM/EGM
	J) Other Legal Advisory services on all corporate / commercial laws,
	providing all legal services viz.
	Joint Venture Agreement, FIPB and SIA compliances ❑ Trade Mark, Copy Rights, and other Commercial Laws
	❑ ECB conversion and other FEMA compliances ❑
	Court, Tribunal matters for Commercial Laws. ❑
	The detail of existing clients on retainership will be provided on request.