ASKA & ASSOCIATES

CHARTERED ACCOUNTANTS
Fund Utilization Certificate Format

To,
Society for Voluntary Action and Research,
E-309, Sector I,
LDA Colony, Kanpur Road,
Lucknow- 226012, U.P

Independent Partitioner’s Report on Utilization of Funds by “Society for Voluntary Action and
Research" (SVAR) for purposes of discharging the Corporate Social Responsibility requirements of
“Indian Oil Corporation Limited” (IOCL).

1. This Report is issued in accordance with the terms of our engagement letter dated 31st March
2024.

2. The accompanying Statement contains the details of the utilization of funds received from
“Indian Oil Corporation Limited” (IOCL) by the “Society for Voluntary Action and Research"
under Financial Assistance for the establishment of Skill & Livelihood Development Program for
sustainable Women empowerment in rural areas of Lucknow, Utter Pradesh, proposal Includes
providing Foot operated sewing Machines to 210 Women beneficiaries of Mohanlal Ganj Block
in Lucknow district and also providing these beneficiaries training on stitching and tailoring
program, having its spending on CSR activities by the company as per section 135 of the
Companies Act 2013 (hereinafter referred as the Act) read with Schedule VII to the Act and has
been initialed by us for identification purposes.

Management’s Responsibility

3. The management of the “Society for Voluntary Action and Research" is responsible for the
preparation of the accompanying Statement including the preparation and maintenance of all
accounting and other relevant supporting records and documents. This responsibility includes
the design, implementation, and maintenance of internal control relevant to the preparation
and presentation of the Statement and applying an appropriate basis of preparation; and
making estimates that are reasonable in the circumstances.

4. The management is also responsible for ensuring that the (Project of) entity complies with the
requirement specified by the company at the time of providing the funds regarding end
utilization to meet the CSR requirement of the company and for providing all relevant
information to the Company as agreed to between the Company and the entity spending on the
Project on the activities specified in Schedule VII to the Act.

SHOP NO.3, KL PLAZA, CP2, SHEKHUPURA, VIKAS NAGAR, LUCKNOW, UTTAR PRADESH-226022
Contact: 0522-4570808
e-mail: [email protected], [email protected]
 Practitioners’ Responsibility

1. Pursuant to the requirements of the ‘’Advisory issued by the CSR Committee of ICAI on issue
of CSR Utilization Report by Auditors of Third Party’’, it is our responsibility to provide limited
assurance in the form of an opinion on the Statement based on our examination of the
matters in the Statement with reference to the books of account and other records of the
Financial Assistance for Skill & Livelihood Development Program for sustainable Women
empowerment in rural areas of Lucknow, Utter Pradesh, proposal Includes providing Foot
operated sewing Machines to 210 Women beneficiaries of Mohanlal Ganj block in Lucknow
district and providing these beneficiaries training on stitching and tailoring program, whether
the details given in the Statement have been accurately extracted from the unaudited
financial statements of the (Project of) entity produced before us for examination and the
activities for which amount was utilized by the (Project of ) entity are covered under CSR
activates as per Schedule VII to the Companies Act,2013 We have performed following
procedures in this regard:

a) Traced and agreed the amounts in the attached Statement, to the unaudited
financial statements of the entity as of and for the year ended March 31, 2024.

b) Checked whether the entity has incurred amounts on the corporate

Social Responsibility (CSR) activities are specified in Schedule VII of the Companies
Act, 2013.

c) Traced the amount spent on CSR activities from the bank statement /cash book of
the entity.

d) Checked whether amounts spent on CSR activities have been adequately disclosed in
the financial statements of the (Project of) the entity.

e) Obtained written representation from the management of the entity on the total
amount unspent and their plan to disburse the unspent amount related to the
project.

f) Tested the arithmetical and clerical accuracy of the Statement.

2. The financial statements of the Financial Assistance for the establishment Skill & Livelihood
Development Program for sustainable Women empowerment in rural areas of Lucknow,
Utter Pradesh, and for the financial year ended March 31, 2024, are unaudited and certified
by the management of the entity.

3. We conducted our examination of the Statement in accordance with the Guidance Note on
Reports or Certificates for Special Purposes issued by the Institute of Chartered Accountants
of India. The Guidance Note requires that we comply with the ethical requirements of the
Code of Ethics issued by the Institute of Chartered Accountants of India.
4. We have complied with the relevant applicable requirements of the Standard on Quality
Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical
Financial Information, and Other Assurance and Related Services Engagements.

Conclusion

Based on our examination as above, and the information and explanations given to us,
nothing has come to our attention that causes us to believe that the details given in the
statement have not been accurately extracted from the unaudited financial statement of the
(Project of) of the entity for the year ended March 31st 2024 produced before us for
examination or The activities for which amount was utilized by the (Project of ) entity are not
covered under CSR activities as per Schedule VII to the Act.

Restriction on Use

5. This report is addressed to and provided to the governing body of the entity for the purpose
of certifying the utilization of the funds by the (Project of) entity for CSR activities as
envisaged by the CSR Committee of the Company, and should not be used by any other
person or for any other purpose or to any other person to whom this report is shown or into
whose hands is may come without our prior consent in writing.

For
M/s ASKA & Associates
Chartered Accountants
Firm’s Registration Number – 022074C

CA Anurag Shukla
Partner
Membership Number - 438546
UDIN: 24438546BKBIHJ2723

Place - Lucknow
Date – 21.05.2024
Details of the amount received from “Indian Oil Corporation Limited” (IOCL) by the “Society for
Voluntary Action and Research" and its utilization up to 31st March 2024 is as under:

S. No. Particulars Amount Amount

(in Rs.) (in Rs.)
1. Amount brought forward from the financial year NIL NIL
2022-23 (opening balance as at 01st April 2023)

Out of which
Amount brought forward from previous financial
years from Indian Oil Corporation Limited
2 Add: Amount Received From Indian Oil
Corporation Limited 31.03.2024
33,60,952.00 33,60,952.00
Less: Program Management Fees @ NIL%

3 Less: Amount Spent (details of the amount spent

project-wise) during the financial year (Give no. of
clause of schedule VII against each amount) 33,60,952.00
i. Project Director Payment 1,00,000.00
ii. Sewing Machine Payment 22,80,600.00
iii. Raw Material for training 2,07,592.00
iv. Honorarium for Master Payment 2,00,000.00
v. Honorarium for Trainer 3,24,000.00
vi. Honorarium for Peon 88,380.00
vii. Honorarium for Sweeper 88,380.00
viii. Rent for the Center 72,000.00
4 Balance amount carried forward to the financial NIL NIL
year 2024-25 (Next year) (Closing Balance as of
31.03.2024)

For
M/s ASKA & Associates
Chartered Accountants
Firm’s Registration Number – 022074C

CA Anurag Shukla
Partner
Membership Number - 438546
UDIN: 24438546BKBIHJ2723
Place - Lucknow
Date – 21.05.2024