Forbes mpany : Subsidiary Annual Report 2021-2022

FORBES & COMPANY LIMITED

FINANCIAL STATEMENTS OF

SUBSIDIARY COMPANIES

FOR THE YEAR ENDED 2021-2022

FORBES & COMPANY LIMITED

Financial Statements of Subsidiary Companies

for the year ended

2021-2022

Contents

Sr.	Name of Company	Page No.
No.
1	Campbell Properties & Hospitality Services Limited	1 - 35
2	EFL Mauritius Limited	36	- 65
3	Forbes Bumi Armada Limited	66 - 102
4	Forbes Campbell Finance Limited	103	- 149
5	Forbes Campbell Services Limited	150	- 184
6	Forbes Facility Services Private Limited	185	- 233
7	Forbes Lux International AG	234	- 244
8	Forbes Technosys Limited	245	- 298
9	Lux del Paraguay S.A	299	- 303
10	Lux Hungaria Kereskedelmi Kft	304	- 336
11	Lux International AG	337	- 350
12	Lux International Services & Logistics Gmbh	351	- 362
13	Lux Oesterreich Gmbh	363	- 368
14	Lux Professional SA	369	- 372
15	Lux Schweiz AG	373	- 376
16	Lux Welity Polska sp.zo.o	377	- 391
17	Volkart Fleming Shipping & Services Limited	392	- 429

CAMPBELL PROPERTIES & HOSPITALITY SERVICES LIMITED

(a wholly owned subsidiary)

Financial Statements

For the Year ended March 31, 2022

Page 1 to 429

Page 2 to 429

Management's Responsibility for Financial Statements

The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance, (changes in equity)[v] and cash flows of the Company in accordance with[vi] the accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate implementation and maintenance of accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

That Board of Directors are also responsible for overseeing the Company's financial reporting process.

The Board is also responsible for overseeing any amendments in Company's Act has been incorporated or not.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism during the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal controls systems in place and the operative effectiveness of such controls

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