The Cusrow Wadia Institute of Technology, Pune

J

.,

.,...Modern Education Society's

CliSROW WADIA INSTITl'n: OF TECHNOLOGY(NON GRANTABLE SECTION)

BALANCE SHEET AS AT MARCH 31,2020

Sch, As at As at Sch. As at As at

FUNDS AND LIABILITIES NO. March 31 2020 March 31 2019 PROPERTY AND ASSETS NO. March 31 2020 March 31 2019

INR INRINR INR

Earmarked funds G 13,95,890 13,95,890 Fixed Assets A 1,09,92,859 1,28,67,176

Loans (Secured/U nsecured) H 6,72,66,452 3,40,95,253 Investments B 29,13,515 26,74.495

Other Current liabilities 1 IJ17,28,552 1,31,60,235 Other Assets C 2,35,986 7,29,910

Income & Expenditure AICLoans (SecuredlUnsecured) D 63,08,100 47,32,214

Opening Balance (65,63,590) 48,31,272

.Add -Deficit for the year (2,84,33,070) (1,13,94,862) Income Outstanding E 1,68,56,907 \,58,56,157

(3,49,96,660) (65,63,590)Cash and Bank Balances F 70,86,867 52,27,836

Total 4,43,94,234 4,20,87,788 Total 4,43,94,234 4,20,87,788

The Schedules referred to above form an integral part of the Financial Statements

As per our report attachedFor KALYANIWALLA & MISTRY LLPChartered AccountantsFirm Registration No. 104607WIWIOOl66

For and on behalf of,ClJSROW WADlA INSTlTlJTE 01< TECHNOLOGY(NON GRANTABLE SECTION)

PartnerMembership No. 047576

UDIN:

Date' l>eceYV\b<"Y IS, 2.02.0

Place: Pune

PartnerMembership No. 047576

~~Trustee Trus~ ,...,"Iltmte~t(!h!J~fon SocietyPune -J!>une - 411 001.

-.Modern Education Society's

ClfSROW WADIA INSTITUTE OF TECHNOLOGY(NON GRANTABLE SECTION)

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED MARCH 31,2020

Sch.For the year For the year Sch.

For the year For the year

EXPENSES ended ended INCOME ended endedNo. March 31 2020 M"rch31. 2019

No. M"r..h 11 2020 March 11 201QINR INR INR INR

To Educational Expenditure L 5,26,60,155 3,93,22,077 By Fees From Students J 2,55,20,247 2,42,04,273

To Depreciation A 24.14,819 31,11,958 By Income from other sources K 11,21,657 68.34,900

By Deficit Carried over to 2,84,33,070 1,13,94,862Balance sheet

Total 5,50,74,974 4,24,34,035 Total 5,50,74,974 4,24,34,035

The SChedules referred to above form an integral part of the Financial Statements

As per our report attachedFor KALYANIWALLA & MISTRY LLPChartered AccountantsFirm RegistrationNo. 104607W/WI00166

For and on behalf of,CtlSROW WADIA INSTITUTE OF TECHNOLOGY(NON GRANTABLE SECTION)

Date: ~ec.~'" "e"f I; I2.0 '-0

Place: Pune

Modern Education Society'sCUSROW WADIA INSTITUTE OF TECHNOLOGY

(NON GRANTABLE SECTION)

RECEIPTS AND PAYMENTS FOR THE YEAR ENDED MARCH 31, 2020

Receipts Amount (INR) Amount (INR) Payments

52,27,836 BY INDlRECT EXPENSESESTABLISHMENT EXPfNSES

1,22,432 LTC AlC - Pt Diploma45,951 Printing & Stationery Expenses

5,70,907 Bauk Charges11,44,440 Aicte Extension of Approval Charges(TER)4,63,002 Educational Expenditure99,924 Electrical Repairs and Maintenance-UA

3,43,850 Elex. Equipment-Lib. Dept.5,03,825 Internent Expenses-RAC2,04,987 Library Expenses-UA17,13,644 Misc. Expenses

Notary ChargesOffice Expenses

10,914 Postal Charges-UA1,225 Repair & Maintenance- UA1,864 Sanitation & Cleaning Expenses200 Student Placement& Training Expenses

TA BILL - UA DIP.537 TA&DAALLOWANCE - UIA. DIP134 TA DA SOCfETY

Travelling & Conveyanace Expenses53,24,587 Honorarium

RAC AlC51,52,305 TA B[LL- SOCIETY1,72,282 fluid Power SocietyOf [ndia(Regd),Bang[ore

Transport Charges- U/A NBAExp - UniversityAccount

6,27,194 Remuneration6,27,194 Insurance Fee - VIA. Dip

College Adrnn.Fee(Unaided)1,35,831 LaboratoryExpenses

12,195 Salary To Staff1,23,636 Proreta Contribution AlC P T Dip

Caution Monev De osit(Old)

, TO OPENING BALANCEBank Accounts

II BANK UNIVERSITY EXAM BaM 1/9037 (20000209037)16-BANK CWITI CORP.NET AlC 2/0024 (981002000024)3 BANK SAF 112563 (98100100002563)5 BANK SOCIETY 1/2585 (98100100002585)6 BANK - CMD 1/2565 (98100100002565)7 Bank - BOARD EXAM FEE 1/2561 (98100[00002561)8 BANK - ECA 1/2564 (981004100002564)9 BANK P T DIP 112638 (98100100002638)BANKGEN SCH -1/1594BANKGOVT OF fNDlA SCH 2/0013

Cash-in-handII Cash Univeristy3 CASH - SAf5CASH - SOCIETY6CASHCMD7 -CASH BOARD EXAM fEE8 CASH - ECA9 CASH -UNAIDED DIPLOMA

TO INDIRECT EXPENSES-

College Admn.Fee (Unaided)Caution Money Deposit(Old)

TO DIRECT INCOMESSTUDENT FEES

TO INDIRECT INCOMESFD InterestS8 Interest

Amount (JNR) Amount ~

4,77017,04011,26745,000

63020,8703,20013,869

2001,15,067

7202,6551.500300

8,6003,215555

4,675825

Il,63535,38515,9272,7002,0001,500

94,42210,62,026

75,89251,77,534

5,5749,45,92610,775

4,22,084

Cusrow Wadia Inr titute of Technelogy,Puoe-41t 001.

I~------~~--~~~

Modern Education SocietyPune - 411 001.

81,18,338 .

Modern Education Society'sCUSROW WADIA INSTITUTE OF TECHNOLDGY


RECEIPTS AND PAYMENTS FOR THE YEAR ENDED MARCH 31, 2020

TO INCOME FROM OTHER SOURCESECA FEE -19-20MSBTERACACCQUNTEXAMHNEMiSe ACCQUNT - SAF -INCQMECQST QF LOST QF UB.BQQKSRENEW ICARDTUITIQN FEE 2015-16A[D TO. STUDENT -U/ADIP.SALE QF SCRAP AlC - UIA DlPLQMA[NCQME - VN[VERISTY ACCQUNTGovt. Exam. AlcPAW AYKDLE (GQVT EXAM.REM)MSBTE TRAINING - SOCIETYAttestation FeesBalance Written BackBonafide ChargesBook Bank SchemeCollege Adrnn.Fee (Aided)Correction in Name-MSDuplicate Convocation Cert FeeDuplicate Fee Receipts FeesDuplicate [ Card (Dup I CARD)Duplicate MarksheetDuplicate Marksheet Fee (FH545)Duplicate Receipt Charges-SAF (DUPL.RECCHGS.)DUPL RECEIPT CHARGES-SAPEducationa Verification feeEXCESSAMTFineIcard lesslcardless & 10Journal & Stationery-SAFJournal & Stationery- UA DipLibrary FeeLibrary FineMisc. ReceiptsQTHER [NCQMEPhotocopy Charges-Auto Exam.RA[L WAY CQNCES[QN & ATTEST ATIQN CHAReassssment Char es-Auto

2,37,60061,5431,0004,200200

1,8351,2806,7282,000

65,920[0,47653,400[,0004,000,535

85,[313,260

50,27513,60,8[7

1001,500200

7,000900650680450

15,000 .500

22,810570340

[,65;021[,[0,6[2

15014,700

850350

9,00022

-:O(JO

PRICusrow Wadi a In,'itute of Technology

puoe-d. 001.

23,23,345

SAL1\RY PAYABLE

SALE QF SCRAP AlC - UIA DlPLQMAExam Fee -University ExamMsbte Training - SocietyCollege Adrnn.Fee (Aided)Excess ArntReassssment Charges-Auto

BY lNCOME OUTSTANDINGAdmission CancelledFY MECHAN[CAL (UA)-A

BY INTER BRANCH BALANCESCW[T -AidedM.E Society

BY INVESTMENTBO,B/6338/9 [3667/6.55o/01[ 7.9.19TD 17.9.21

BY OTHER ASSETSADVANCE TO. STAFF

BY CURRENT LIABILITIESSundry CreditorsAKCAICEXi' - ECA ACCDONTGQI ScholarshipR M Dhariwal Sch Account - Society

Other PayableBANK LQAN RECQVERYEPF AccountEXCESS DDAMQUNT (U/A DIP.)EXCESS FEESGLiSS AccountL1CMESCE Co. QP SQCIETY

28,16016,0003,000

13,54,915500500

5,71,560[9,704

17,09,98612,97,374

87,000

3,85,600

44,45,4743,34,645

13,4781,16,84,409

5,000

4,1007,26,916

1,93054,10652,290

2,54,31029,67,659

6852,66,90,874

5,874

5,91,264

30,07,360

87,000

3,85,600

4,91,91,1'51

Modern Education Society11 1 n

Modern Education Society'sCUSROW \vADIA INSTITUTE OF TECHNOLOGY


RECElPTS AND PAYMENTS F.OR THE YEAR ENDED MARCH 31,2020

~--------Y-R~C:PAL

LtlHOW W~dja Jo~.'ittlle of Technfune-ll ~00 •

RTI-SOC 4 Duties and Taxes

SALEOF WASTE PAPER 2,736 Professional Tax 1,32,275

Test Improvement Fees 3,100 Tds On Contract 38,326

TRANSCRJPTCHARGES 1,000 TDS Salary 17,26,700

Trascript Charges (Transcript) 12,500Verification- Auto.Exam. 400 Student Deposit

Caution Money Deposit 2016-17 34,800

TO STUDENT FEES 2,37,70,189 CMD AlC Grant2016-17 15,800

Admission Cancelled 5,84,556 Library Dep 1,500

FY COMPUTER (UA)-A 27,61,174FY DET{UA}-A 9,37,840 BY CLOSING BALANCE 70,86,867

FYMECHANICAL (UA)-A 24,79,588 Bank Accounts

SY COMPUTER (UA) - A 33,.10,467 II BANK UNIVERSITYEXAM BOM 1/9037(20000209037) 1,22,840

SY DET (UA) - A 11,70,245 16-BANKCWlTI CORP.NET AlC 2/0024{981002000024) 70,564

SY MECHANICAqUA) - A 30,53,875 5 BANK SOCI-ETY1/2585(98100 I00002585) 4,15,016

TY COMPUTER (UA) - A 37,31,931 7 Bank - BOARD EXAMfEE 112561(98100100002561) 15,265

TY DET (UA) - A 13,34,855 9 BANK P T DIP 1/2638(98100100002638) 17,18,%2 .

TY MECHANICAL(UA) - A 43,32,023 BANKGEN sen -1/1594 3,05,890

Left Others 73,637 BANK GOVTDF [NDIASCH 2/0013 44,W;91O. -

TO INTER BRANCH BALANCES 1,67,44,900 Cash-In-Hand

CWIT - Aided 4,900 II Cash Univeristy 4,863

CWIT- Unaided II 9,00,000 5CASH - SOCIETY 85

Modern Education Society 1,58,40,000 9 CASH -UNAIDED DIPLOMA 12,472

1:.0 OTHER ASSETS 9,94,410Ad~anceTo Staff

= 3,78,300 - --

ARC ReceivableFrom Government 6,16,110

TO OTHER CURRENT LIABILITIES 1,47,22,363PROFESSIONALTAX 3,950TDS Salary-UA 15,000GOI Scholarship 1,43,83,429Sundry Creditors-K 1,37,179Convocation Yr 201-0-11May 2'0II Receipt& Pay 6,051 .Convocation Yr 2010-11 May-20II Receipt& Payment 1,500GOLDEN JUBILEE PRIZE -GS 1,100

b - ~---- ~\}.Gatiol)~~

~ ~\"Ute :'Jlj:<i'V 0> y.

,..

-~,Modern Educatiorl Society

Pune - 411 001.

Modern Education Society'sCl!SROW WAI>IA INSTITUTE: OF TECHNOLOGY


OTHER PAYABLEEPF Account

960

EXCESS DD.AMOUNT (U/A DIP)4

EXCESS FEES77,774

REVENUE STAMP ACCOUNT 53

SALARY PAYABLE27,463

Staff Tea Club400

STUDENT DEPOSITCaution Money Deposit 19-20 56,000

Library Dep[[,500

Total6,98,70,655 Total

6,98,70,655

RECEIPTS AND PAYMENTS FOR THE YEAR ENDED MARCH 31,2020

Above Receipt and Payment is represented by the Management, generated from the ERP System of the institution and initialled by the auditors for identification purpose only.

For and on behalf of,CUSROW WADlA INSTITUTE OF TECHNOLOGY(NON GRANTABLE IISECTION)

r:~

prinQ~\NC\ PALCusrow ~ ~ikltedtJet-\oIb

P~on~- 411 001.

~~TruTtfU~; - ,

Moderrh.~Er~.re~OO~cietYPune - 411 001.

.i'-'



Calculation Depreciation on other Assets for A.Y. 21-22 For Regular Shift

Schedule A - Fixed Assets

(Amounts in INR)

WDVas onAdditons Additons Total Additons

During the Year During the Amount of Rate ofDepreciation WDVason

Sr. No. Asset Category March 31, More than or Year- LessDuring the Sale/ Disposal

Sub Total Depreciationfor the year March 31, 2020

2019 equal 180 Days than 180 DaysYear 2019-20

1 Equipments 1,00,03,278 - 4,06,275 4,06,275 - 1,04,09,553 15% 15,30,962 88,78,591

2 Furniture and Fixtures 6,35,170 - 73,225 73,225 - 7,08,395 15% 1,00,767 6,07,628

3 Computers 42,46.407 - 14,250 14,250 42,60,657 25% 10,63,383 31,97,274

4 Software 4,47,229 37,800 - 37,800 - 4,85,029 25% 1,21,257 3,63,772

5 Library Books - 8.460 492 8.952 - 8,952 25% 2,177 6,775

Total Assets 1,53,32,084 46,260 ~94,242 5,40,502 - 1,58,72,586 - 28,18,546 1,30,54,040

[)

For KAL YANIWALLA & MISTRY LLPChartered Accountants

nt:pRfti@flAL

ClJ.,~ltW!l1tUtelO~CUSROWWA'DY+~:r,UVl)f)PF TECHNOLOGY

Signa tare and SealofPe"ODaUth~t.fSection 2 (I) of the Act Trustee

Modern Education SocietyPune- 411 001.

Partner

UDIN

Date J)ec.emb<'Y 15,20'2.0

Membership No. 047576Place: Pune


(NON GRANT ABLE SECTION)

Schedules Forming Part of the Financial Statements for the year ended March 31, 2020(Amounts in INR)

Schedule B - Investment

Sr.Particulars

Balance as on Balance as onNo March31,2020 March 31, 2019

1 Fixed Deposits 29 13-,-515 2674495

Total 29,l3,515 2~74 495

Schedule C - Other Assets

Sr.Particulars

Balance as on Balance as onNo i March 31, 2020 March 3.h_2019

I,

1 DepositsMSEB Security DeQosit 1 40000 1 40000

2 Duties and Taxes - 1,54,600

3 Prepaid Expenses 95963 423 036

4 Other _II

Book Bank - 8460Prizes - 1910Group Insurance 1 - 1 891Revenue Stamp _l_ 23 13

Total 2,,351>86 7_!_291>10

Schedule D - Loans and advances

Sr.Particulars Balance as on Balance as on

INo March 31, 2020 March 31--,-2019

1 Intra BranchCusrow Wadia Institute of Technology - Grantable 63 Oll100 46 12314Cusrow Wadia Institute of Technology - World Bank - 1,19,900

Total 63 0~100 4 7_J_32_1_214I

Schedule E - Income Outstanding

Sr. IParticulars Balance as on Balance as on

No March 31_[2020 March 31 2019

1 Fees and Scholarship Receivable "'-I ~ '.-

~Modern Education Society

Pune - 411 001.



Schedules Forming Part of the Financial Statements for the year ended March 31, 2020Amounts in INR_l

Fees and Scholarship Receivable I 6856907 15856157, .

Total 1,68,56907 1,58,56,157

Schedule F - Cash and Bank Balances'

Sr. ParticularsBalance as on Balance as on

No March 31, 2020 March 31,2019..

1 Cash Balance 27420 14873

2 Bank Balance11 Bank University Exam Born 1/9037 1 22 840 1,22432

16- Bank Cwitl Corp.Net AIC 2/0024 70564 45951

3 Bank Saf 1/2563 - 570907

5 Bank Society 1/2585 4 15016 11 44,440

6 Bank - Cmd 112565 - 4,63002

7 Bank - Board Exam Fee 1/2561 15265 99924

8 Bank - Eca 112564 - 343 850

9 Bank P T Dip 112638 17 18962 503,825

Bank Gen Sch -1/1594 3,05890 204,987

Bank Govt Of India Sch 2/0013 44,10910 17 13645

Total 70,86,867 52,27836

Schedule G - Earmarked funds

Sr. Particulars. Balance as on . Balance as on

No March 31 •.2020 March 31. 2019

1 Building Equipment Fund 600604 6,00604

2 Other Earmarked Fund 795286 795286

Total 13,95,890 1395,890

Schedule H - Loans (SecuredfUnsecured)

Sr. ParticularsBalance as on Balance as on

No March 31. 2020 March 31, 2019

1 Intra BranchModern Education Society 35544946 3155025

Cusrow Wadia Institute of Technology - Non Grantable 3,17,21,506 3,09,40,228,

Total 6,72,66,452 340,95,253

T~~Modern Education Society

Pune - 411 001.

II'

Modern Education Society'sCUSROW WAl)IA INSTITUTE OF TECHNOLOGY

(NON GRANT ABLE. SECTION)

Schedules Forming Part of the Financial Statements for the year ended March 31,2020(Amounts in INR)

Schedule I - Other Current Liabilities

Sr.Particulars

Balance as on Balance as onNo March 3L_2020 March 3L_2019

1 DepositCaution Money Deposit 3_)6600 27:S_400Librarv Deoosit 15_,500 5500Other Deposit - II 000

2 Duties and TaxesTDS on Salary 3 99 500 -

3 Other PavableSundry Creditors 2 13489 8 16647Suspense - 34295

4 Fees RefundableExcess Fees received 3 L_238 200

5 Salary Payable and DeductionsMES Credit Society 504 130 325047Profession Tax 26800 25612EPF Pavable I 18 164 85924Salary Payable 1999451 7l_,I7816LIC Account I 44898 22063Provision for Employer Contribution ofPF I 28064 -GLISS Account 4340 -

6 Other LiabilitiesStudent Aid Fund 10850 10850Extra Curricular Activity 23 85308 23 95--,--837Tuition fee payable - 9_;_oboBank LoanRecoverv - 4,100Staff Advances 54945 -ARC Payable to Empovees - 3 08".055CM Fund 6~256 -

7 Scholarships and Freeshins PayableOther Scholarship - 5740Government Scholarship 4409019 17 10 149

, I

Total 1,07 i8,552 1 31_!_6~235

T~Modern Education Society

Pune- 411 001.

--------------------------~----------




Schedule J - Fees from Students

Sr. No Particulars 2019-20 2018-19

I Fees From Students 2.55,13519 2,37,84,2172 Old Fees received 6.728 4.20,056

Total 25520247 24204.273

Schedule K - Income from Other Sources

Sr. No Particulars 2019-20 2018-19

I Bank Interest 1.27,662 2,65,4492 Interest on Fixed Deposit 1,82116 1.71,2073 Miscellaneous Income 4.00,359 1,202804 Transcript Fees 13,500 17,0005 Admission Cancellation Charges 13,000 50006 Extra Training Courses 1.000 -7 Sale of Scrap 37,760 96,6068 Issue of Duplicate Copy of Documents 12,080 7,4809 Bonafide fee 3.260 35010 ARC - 6,16,110II Librarv Fine 16,685 3.20012 ExamFees 3.789 3160013 Librarv Fees 29,400 81,10414 Insurance Fees 76,104 65,38015 Internet& Mail Fees 43,200 6360016 Fines 27010 -17 Prior Period Scholarship Income - 38,66,34518 Balance Written Back 1.34,732 14,24 189

Total II 21 657 68.34900

Schedule L - Educational Expenditure

Sr. No Particulars 2019-20 2018-19I Salarv Exoenses

StaffWelfare and Training - 4,000CLA Account 92253 93250DA to Staff 1.26,57,498 1,14,05,450Grade Pav 12,62,007 12,70,529HRA To Staff 2369,707 23,25,254Pav in the Pav Band 1.1436,658 1,27,46,784Provident Fund Nc (Employer) 9.18025 7,76,155Remuneration to Visiting Staff 15000 49,484T.A.Account 2.97,848 2,97,491W.A. Account 8.731 8,943Others Arreas 8.902 -Gratuity Exoenses 8.16,238 -Gratuitv Expenses - Prior Period 1.2179,511 -Leave Encashrnent Expenses 1.84353 -Leave Encashment Expenses - Prior Period 3524085 -

Modern Education Society'sCUSROW WADIA INSTITUTE;: OF TECHNOLOGY



2 Administrative ExpensesAccreditation Fees

, 1,49985-Affiliation Fees 450.0.0. 1,0.0.,0.0.0.Printing and Stationary 1.76,0.22 6,44,416Travelling & Conveyance 31,0.25 27,792Gymkhana and Sport Expenses 170.69 52540.Office Exoenses 64,987 250.Professional Fess 4,72,90.0. 4,11,120.Securitv Charzes 363,40.0. 38,0.53Training: & Placement (Student) 3,215 4,738Other Renairs and Maintenance 7,51,320. 5,97,398Rezistration exoenses 2,0.0.0. 35ARC Remuneration and Expenses - 3,0.8,0.55Extra Work Remuneration 10.,520.90. 12,50.,268Balances Written OtT 2,0.7,575 35,57418Audit Fees 75,50.0. 2,52,70.0.Prior Period Expenses on Interest on Deposits - 1 17,364Honorarium 35,3185 40.0.0.

3 Consumable AccountWork Shoo Material 42,669 2,56723

4 Bv Conference/Seminar for studentsConference/Serninars/W orkshon - 7,878Students Activity Expenses - 24,867

5 Journalsl Periodicals Subscrintion CharzesLibrary Expenses 31,137 -

6 Other ExpensesTelephone and Postage Expenses 13,750. 17,279Electricity Charges 8,86,960. 9,0.8,883Sanitation & Cleaning 2,92,236 1,48,783Insurance Expenses 75,892 64,70.6Internet Expenses 5,0.3,835 7, I0.,30.5Magazine/PeriodicalslNews Paper 42,380. 97115Bank Charzes 12,01'5 8,794Misc. Exoenses 5,87,990. 1,63885Rates, Taxes, Cesses 3,72,374 3,70.,735Repairs and maintenance 4,96,170. 48,652Proreta Contribution Expenses 3Q,lQQ -Water Charges 1,61,964 . -Prior Period Expenses 42,379Total 526601,55 39322077

. ~.Modern Education SOCiety

Pune - 411 001.

I•

KALYANIWALLA& MISTRY LLP

CHARTERED ACCOUNTANTS

Form A-I

Audit Report for fee proposal submitted to FEES REGULATING AUTHORITYMaharashtra

1. We have examined the Balance sheet as at March 31, 2020 and the Income and expenditure accountfor the period beginning from April 1st 2019 to March 31, 2020, attached herewith, of ModernEducation Society's, Cusrow Wadia Institute of Technology (The Institute) 19, Late Prin. V.K. Joag Path, Wadia College Campus, Pune - 411 001 for Diploma Engineering Courses.

2. We certify that the balance sheet and the income and expenditure account are in agreement with thebooks of account.

3. We confirm that the mercantile method of accounting is followed while preparing books of accountsandpreparing the balance sheet as atMarch 31, 2020 and the income and expenditure account for theyear then ended subject to our comments in AnnexureA3 attached to this report.

4.A) We have obtained all the information and explanations which, to the best of our knowledge

and belief, were necessary for the purpose of the audit.

B) In our opinion, proper books of account have been kept by the institute so far as appearsfrom our examination of the books subject to our comment in Annexure A3 attached to thisreport.

C) In our opinion and to the best of our information and according to the explanations given tous, subject to the comments in the AnnexureA3 attached to this report, the said accounts, readwith notes thereon, if any, give a true and fair view:-

1. in the case of the balance sheet, of the state of the affairs of the course as at March31,2020 and,

u. in the case of the income and expenditure account of the deficit of the courseforthe year ended on that date.

5. The statement of particulars required to be furnished to FRA relating to the course for whichfees proposal is submitted is annexed herewith as Form No. A-2.

LLP IN : AAH - 3437PUNE OFFICE: 3RD FLOOR, PRO-I, BUSINESS CENTRE, SENAPATI BAPAT ROAD, PUNE 411 016

TEL.: (91) (20) 2567 1514, 2567 1113 FAX: (91) (20) 2567 6427

REGISTERED OFFICE: ESPLANADE HOUSE, 29, HAZARIMAL SOMANI MARG FORT MUMBAI'I 400 001

KALYANIWALLA& MISTRY LLP

6. In our opinion and to the best of our information and according to explanations given to usthe particulars given in the said Form A-2 are true and correct except for the effect of mattersdescribed in the Annexure A3 attached to this report,.

For Kalyaniwalla &Mistry LLPCharteredAccountantF Registration No. 104607WIWI00166

PartnerMembershipNo. 047576

UDIN : 20047576AAAAFJ5183Place: PuneDate: December 15,2020

Form No. A-2Forming part of Audit Report under FORM No. A-1

1. Code of the Institution for which the fees proposal is: PL-6020submitted

Name of the Institution : Cusrow Wadia Institute of Technology

Correspondence of Address of the Institution : 19 Bundgarden Road, Pune-411 001

Location address of the college where the course is: 19 Bundgarden Road, Pune-411 001carried on

Academic year for which the fees proposal is: 2021-22submitted

Relevant financial year : 2019-20

2.

3.

4.

5.

6

7 Break of the Annual Salary expenditure in to :Total Salary as per I&E Account Rs. 4,57,70,817

Teaching Salary 3,08,43,582Arrears of Teaching Salary for earlier financial years 3,22,776Non-Teaching Salary 1,44,78,237Arrears of Non-Teaching salary for earlier financial years 1,11,222Visiting and Guest Lecture remuneration 15,000

8 Mode of Payment of Salary

Teaching Salary as mentioned above Total Rs. 3,11,66,358

Paid by Bank Transfer during the year 1,90,61,590Paid by Account Payee cross cheque 0Paid in Cash 0Provision at the end of the Financial Year 1,21,04,768

8.1Non-Teaching Salary as mentioned above Total Rs. 1,45,89,458Paid by Bank Transfer during the year 67,64,692Paid by Account Payee cross cheque (Gratuity cheque) 1,13,165Paid in Cash 0Provision at the end of the Financial Year 77,11,601

8.2Visiting and Guest lecturer Salary as mentioned above Total Rs. 15,000Paid by Bank Transfer during the year 0Paid by Account Payee cross cheque 0Paid in Cash 15,000Provision at the end of the Financial Year 0

9. Teaching Staff and status of their approval from the University I Council as upto the end of therelated Financial Year:Total No of Teaching Staff of which Salary reflected in the I & E Account for the 37related financial year

Approved Teaching Staff (Director of Technical Education Mumbai) 14

Unapproved Teaching Staff 23

10. Depreciation of Computation as per Fees Regulating Authority norms: Rate of Depreciation for theFinancial Year 2019-20

ComputerBooks

25%25%15%

15%

Balance

130,54,040

Plant & Machinery (Definition as per Income Tax Act, 1969)

Furniture & Fixture (Definition as per Income Tax Act, 1969)

Opening Balance Additions Deletions ISales

Depreciation for the ClosingYear (WDV)

28,18,546

11. Capital expenditure and deferred revenue expenditure debited to Income and Expenditure Account

AmountRs.

-----------------Nil---------------------

No. of Years for which the Affiliation fee aid One YearAmount of Prepaid Affiliation fee i.e. fees paid for subsequentfinancial ears

13. SanctionedStrength of the Students by the approvingAuthority. Please note that the information is requirednot of the actual no. of students who have taken admission but sanction strength (please mention branchwise details within the course).

Depreciation computation as per FRA

1,53,32,084 5,40,502 o

Expenditure head Nature of Expenditure (mentiondetails)

12. Break of the University I Council IApproval Authority Affiliation feeAmount of Affiliation fee as_perI&E account Rs. 45,000

Name of the Course / Branch Sanctioned no. of Additional Sanctioned no. ofstudents for the permitted for students forAcademic Year Academic Year Academic Year

2019-20 2020-21 2020-21COMPUTER DIPLOMA ENGG. 60 0 60MECHANICAL 60 0 60ELECTRONICS & 60 0 60TELECOMMUNICATION

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Modern Education Society'sCllSROW WADIA INSTITUTE OF TECHNOLOGY


Schedules Forming Part of the Financial Statements for the year ended March 31, 2020

Schedule A - Fixed Assets(Amounts in INR)

WDVas on Additons AdditonsTotal Additons Depreciation

Sr. No. Asset Category March 31, During the Year During theDuring the

Amount ofSub Total Rate of

for the yearWDV as on

2019 More than or Year- LessYear Sale! Disposal Depreciation

2019-20 March 31, 2020equal 180 Days than 180 Days

I Euuinmcnts 9271 545 - 406275 406275 - 9677820 15% 1421202.00 82566182 Furniture and Fixtures 13 84 306 - 73225 73225 - 1457531 10% 142092.00 13 154393 Computers 1810452 - 14250 14250 1824702 40% 727031.00 10 97 6714 Software 325252 37800 - 37800 - 363052 25% 90763.00 2722895 Librarv Books 75621 8460 492 8952 - 84573 40% 33731.00 50842

Total Assets 12867176 46260 494242 540502 - 1.3407678 - 2414819 10992859

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CusrowWadia Instituteof Technology~me 411001.

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