PNB Gilts Ltd — Audit Report / Information 2021

Sep 1, 2020

The Manager - Listing	The Manager - Listing
National Stock Exchange of India Ltd.	BSE Ltd.
Exchange Plaza	Phiroz JeeJeebhoy Tower
Bandra Kurla Complex	Dalal Street
Bandra (E), Mumbai -400051	Mumbai- 400 001
Scrip Code: PNBGILTS	Scrip Code: 532366

Reg: Appointment of Statutory Auditors for FY 2020-21

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Part A of Schedule III to the said Regulations, it is hereby informed that the Comptroller and Auditor General (C&AG) of India, in exercise of powers conferred u/s 139 of the Companies Act, 2013, vide its letter dated 10.08.2020 (received on 26.08.2020), has appointed M/s. Rasool Singhal & Co., Chartered Accountants (FRN: 500015N) as the Statutory Auditor of the Company for the Financial Year 2020-21.

Further, the Statutory Auditor also accepted such appointment and provided confirmation on the same vide letter dtd. 28.08.2020 (received on 01.09.2020).

Pursuant to SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015, necessary detail(s) is enclosed herewith.

This is for your information and records.

Thanking you.

Yours faithfully, For PNB Gilts Ltd.

Encl: As above

Annexure

Name of the Statutory Auditor	Mis.SinghalCharteredRasool&Co.,
	Accountants (FRN: 500015N)
Reason for change viz.	AuditorAppointmentasStatutorybyComptroller and Auditor General(C&AG) of
appointment, resignation,
removal, death or otherwise	in exercise of powers conferred uls 139India,
	of the Companies Act, 2013
Date of appointment! cessation	01.09.2020
(as applicable)
Term of Appointment	Appointment as Statutory Auditor for FY 2020-
	21
Brief Profile	Attached

BRIEF PROFILE OF RASOOL SINGHAL & CO CHARTERED ACCOUNTANTS

HEAD OFFICE

G-313, SECTOR-63, NOIDA (U.P.) - 201307

ADMINISTRATIVE OFFICE

CA ANUJ GOEL COMPLEX, SD-30, SHASTRI NAGAR, GHAZIABAD (U.P.) 201002

DELHI OFFICE

A-176, SURAJMAL VIHAR, DELHI-110092

CONTACT NUMBERS

09811242760;09312258364

E-mail: carasooisinghai@gmail.comandcajitendergoei@gmail.com

PROFILE

1.	NAME	OF FIRM

• 1. CONSTITUTION
• 1. NO. OF PARTNERS
• 1. Date of Establishment
• 1. (a) I.C.AI. Registration No.
  • (b) CAG Registration No.
  • (c) PAN
  • (d) GST
• 1. Addresses with Telephone Nos.

MIS. RASOOl SINGHAL & CO.

• PARTNERSHIP FIRM
• 11 (Eleven)
• 04-08-1967
  • 500015 N
• DE 1176
  • AACFR0254M
    • 09AACFR0254M1 Z2

CORRESPONDENCE OFFICES:

(1) MIs. Rasool Singhal & Co., Chartered Accountants, G-313,SECTOR-63 NOIOA-201307 (INDIA) • (0) 020-4340778 Mobile: 9312258364, 9810041371 Email: carasoolsinghal@gmail.com

(2) MIs. Rasool Singhal & Co., Chartered Accountants, CA Anuj Goel Complex 50-30 Shastri Nagar Ghaziabad-201002 (INDIA) • (0) 0120-4207878 Mobile: 9312258364, 9810041371 Email: anujgoyal@icaLorg

A. STABILITY OF FIRM: (i) Age in Years

50 years (The Firm has been established on 04th August 1967 and got registered with The Institute of Chartered Accountants of India, ICAl under registration no. 500015N).

(ii) No. of Offices & Branches

The Firm is having a very wide network, covering three states of the country including four offices in Uttar Pradesh including Head office, one branch office in Delhi, and one branch office in Uttrakhand. The details of the branch offices with their addresses, contact numbers and the person in charge there is as follows: -

51.No	NameoftheOffice	AddressofTheBranchOffice	PhoneNumbers	NameofBranchIncharge
1.	Noida-HO	G-313,Sector-63,Noida-201307	0120-4207878	CA.JitenderGoel
2.	Delhi	A-176,SurajmalVihar,Delhi-II0092	9811242760	CA.AnilKumar
3.	Ghaziabad-I	SD-29,ShastriNagar,Ghaziabad201002	09818413166	CA.KapilGupta
4.	Ghaziabad-2	1003,HotelRadissonBlu,KMTradeTower,Kaushambi,Ghaziabad-201010	0120-4207878	CA.AnujGoyal
6.	Bulandshahr	GandhiGanj,Gulaothi-245408,Bulandshahr	09313547061	CA.RajendraPrashadAgarwal

B. MANPOWER

DETAILS OF QUALIFIED PERSONS

The Firm is having 11 Chartered Accountants Partners on full time basis and 42 professional & other employees.

C. PROFESSIONAL EXPERIENCE

A brief detail of the work done by the firm is as follows:-

EXPERIENCE IN BIFR MATTERS;

We have worked on more than a dozen BIFR matters for Utter Pradesh Financial Corporation and also attended the appeals in many of those mattes.

EXPERIENCE IN BANK AUDIT / INSPECTION WORK:

CENTRAL STATUTORY AUDIT ALLAHABAD BANK

(1993-94 to 1996-97,2006-07 to 2008-09) ORIENTAL BANK OF COMMERCE (1984, 1985, 1986 & 1987-88) UNITED BANK OF INDIA (1999-2000 TO 2002-2003)

BRANCH STATUTORY AUDIT STATE BANK OF INDIA

PUNJAB NATIONAL BANK UNION BANK BANK OF INDIA UCOBANK

CONCURRENT AUDIT BANK OF INDIA

SYNDICATE BANK BANK OF BARODA PUNJAB & SIND BANK STATE BANK OF BIKANER & JAIPUR CORPORATION BANK DENABANK FEDERAL BANK CANARABANK CENTRAL BANK OF INDIA ALLAHABAD BANK

I Rasool Singhal & Co.

INFORMATION SYSTEM AUDIT PUNJAB NATIONAL BANK

STOCK VERIFICATION AUDIT POWER GRID CORPORATION LTD.,

UNION BANK OF INDIA PUNJAB NATIONAL BANK ORIN TAL BANK OF COMMERCE STATE BANK OF MYSOR ICICI BANK BANARASSTATEBANK

BRANCH INSPECTION PUNJAB NATIONAL BANK STATE BANK OF INDIA UNITED BANK OF INDIA ORIENTAL BANK OF COMMERCE DENABANK

REVENUE AUDIT STATE BANK OF INDIA PUNJAB NATIONAL BANK CANARABANK ALLAHABAD BANK NEW BANK OF INDIA CENTRAL BANK OF INDIA BANK OF INDIA INDIAN OVERSEAS BANK INDIAN BANK VIJAYABANK ORIENTAL BANK OF COMMERCE UNION BANK OF INDIA UNITED BANK OF INDIA BANK OF MAHARASTRA PUNJAB & SIND BANK

(MORE THAN 30 BRANCHES/OFFICES) ALLAHABAD BANK (AS CENTRAL STATUTORY AUDITOR)

HEINZ INDIA PVT. LTD. IFFCO BARISTA COFFEE LTD. EUREKA FORBS LTD. BATA INDIA LIMITED UP RAJKIY A NIRMAN NIGAM LTD. BANK OF MAHARASTRA ORIENTAL BANK OF COMMERCE DENABANK

PUNJAB & SIND BANK BANK OF BARODA

FIXED ASSETS VERIFICATION AUDIT:

HEINZ INDIA PVT. LTD. BARISTA COFFEE LTD. EUREKA FORBS LTD. SAHARA INDIA MASS COMMUNICATION

Statutory! Internal Audit of Public Ltd. Coso

The Firm has conducted statutory and Internal audit of no. of Public Sector Undertakings, the details of the PSUs where the Firm has conducted the Audits are as follows:-

• 1. CANARA HSBC OBC INSURANCE PRIVATE LIMITED
• 1. ur STATE BRIDGE CORPN. LTD.
• 1. POWER GRID CORPORATION LTD.
• 1. KUMAUN MANDAL VIKAS NIGAM LTD.
• S. U.P.PARVATIYA VIKAS NIGAM LTD.
• 1. INDIAN OIL CORPORATION LTD.
• 1. FOOD CORPORATION OF INDIA
• 1. UP STATE SUGAR CORPN.LTD.
• 1. UP SEEDS & TARAI DEVELOPMENT CORPN. LTD.
• 1. U.P.PASHUDHANUDYOG NIGAM LTD.
• 1. UP RAJKIYA NIRMAN NIGAM LTD.
• 1. NATIONAL TEXTILE CORPN. LTD.
• 1. NATIONAL MINERAL DEVELOPMENT CORPN.
• 1. DIAMOND MINING PROJECT)
• 1. M.P.AUDYOGIC KENDRA VIKAS NIGAM.
• 1. THE JAMMU & KASHMIR BANK LTD.
• 1. THE PNB CAPITAL SERVICES LTD.
• 1. P.E.C. LTD (Govt. Export House)

1. RURAL ELECTRIFICATION CORPORATION

• 1. STATE TRADING CORPORATION
• 1. GAS AUTHORITY OF INDIA LTD
• 1. NAFED
• 1. UP POWER CORPORATION

1. BHARA T SANCHAR NIGAM LIMITED

SPECIAL AUDIT! INSPECTION

• 1. Alpic Finance Ltd. (Bombay) (A Non-Banking Finance Co.)
• 1. Momentum Computers Pvt. Ltd.
• 1. Aligarh unit of TATA infotech
• 1. Aligarh Development Authority

I Rasool Singhal & Co.

USER FEE AUDIT

NATIONAL HIGHWAYS AUTHORITY OF INDIA

• MAHUVAN TOLL PLAZA, CMU-FARIDABAD, NH-2
• NAINI BRIDGE TOLL, PIU NAINI BRIDGE-ALLAHABAD
• DASNA TOLL PLAZA, NH-24, GHAZIABAD

INSURANCE COMPANIES:

• 1. LIFE INSURANCE CORPATION OF INDIA
  • Jabalpur Divisional Office
  • Aligarh Divisional Office
• 1. GENERAL INSURANCE CORP ATION OF INDIA
• 1. National Insurance Co., Ltd.
  • Jabalpur Divisional Office
  • Aligarh Divisional Office
  • Hardwar Divisional Office
• 1. Oriental Insurance Co. Ltd.
  • Jabalpur Divisional Office
  • Aligarh Divisional Office
• 1. New India Assurance Co. Ltd., Hardwar Divisional Office
• 1. United India Insurance Co., Ltd., Jabalpur, Divisional Office
• 1. Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Besides the above Government assignments, the firm has number of prestigious Private Sector assignments and handling more than 100 audit assignments, including Statutory & Internal audit, every year.

Our Firm has a very wide experience and is involved in the assignments related to following activities also:-

• 1. Financial Management
• 1. Working Capital Management
• 1. Project Financing
• 1. Analysis of Cash and Fund Flow
• 1. Capital Budgeting and Ratio Analysis
• 1. Inventory Management
• 1. Tax Management
• 1. Management Consultancy
• 1. Inspection Audit
• 10.Special Audit
• 11.Internal Audit
• 12.Legal consultancy

& all other allied works related to the Profession of Chartered Accountancy.

BRIEF PROFILE OF MANAGING PARTNERS:

Here is a brief profile of some of the partners of the firm showing their experiences, details of positions held by them to serve the profession of Chartered Accountancy in various capacities and their professional approaches as speakers on various professional topics in the seminars/conferences attended by them.

• 1. CA. Jitender Goel is the Fellow Member of The Institute of Chartered Accountants of India (ICAI) since 1990. He was the member of the Ethical Standard Committee of Institute of Chartered Accountants of India (2005-06). He was also the past member of Insurance Committee of Institute of Chartered Accountants of India (2004-05). He has also persuaded post qualification courses of ICAI and is qualified as Information System Auditor (OISA-ICAI). He also attended more than 300 Conferences & Seminars both of National & International level.
• 1. CA. Anuj Goyal is the Fellow Member of The Institute of Chartered Accountants of India (ICAI) since 1993. He was the member of the Central Council (2004-16) of Institute of Chartered Accountants of India. He worked as Chairman of Committee on Public finance & Government Accounting of Institute of Chartered Accountants of India, Professional Development Committee, WTO Committee, Committee on Insurance & Pension, Expert Advisory Committee, Research Committee and many other committees of ICAI. He has worked as member of almost all the Committees of ICAI at different points of time. He is the Past Chairman, Vice-Chairman & Secretary (2001-2004) of Central India Regional Council of Institute of Chartered Accountants of India. Beside this he is great academician being a member of all three Professional Bodies of India Le. ICAI; ICSI & ICWAI. He has also persuaded post qualification courses of ICAI and is qualified as Information System Auditor (OISA-ICAI) & Insurance & Risk Management (OIRM-ICAI). He also attended more than 2100 Conferences & Seminars both National & International as speaker of professional topics.

All the partners have varied experience in all the directions of the profession of Chartered Accountancy, as stated above. Nine partners are FCA and Two Partners are ACA. Three Partners are OISA-ICA qualified and one partner is OIRM-ICA qualified.

Firm has a fleet of staff with varied professional qualifications in different fields and associated with the firm for more than three decades and are experienced and trained in all requisite direction of profession under the direct supervision of the partners of the firm. The staffs are technically qualified and some of them are from the profession of law.

For Rasool Singhal & Co. Chartered Accountants

(CA. Jitender Goel) Managing Partner

I Rasool Singhal & Co.