Atul Ltd 2014-15

87 Name of the statute Nature of dues Amount ( ` cr) 1 Period to which the amount relates Forum where the dispute is pending 2 Central Excise Act, 1944 Excise and service tax 0.49 7.72 3.53 1986 to 2014 1992 to 2010 1993-94 Commissioner (Appeals) Customs, Excise and Service Tax Appellate Tribunal High Court 11.74 Customs Act, 1962 Customs duty 0.59 1.76 1995 to 2009 1997-98 Commissioner (Appeals) Customs, Excise and Service Tax Appellate Tribunal 2.35 Income Tax Act, 1961 Income tax 1.13 0.95 2006-07 2010-11 Commissioner of Income Tax (Appeals) Income Tax Appellate Tribunal 2.08 1 Net of amounts deposited. | 2 Necessary stay received from respective authorities. c) T he amount required to be transferred to Investor Education and Protection Fund has been transferred within the stipulated time in accordance with the provisions of the Companies Act, 1956 and the rules made thereunder. viii) The Company has no accumulated losses as at the end of the financial year and it has not incurred any cash losses in the financial year ended on that date or in the immediately preceding financial year. ix) According to the records of the Company examined by us and the information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institution or bank. The Company has not issued any debenture as at the Balance Sheet date. x) In our opinion, and according to the information and explanations given to us, the terms and conditions of the guarantees given by the Company for loans taken by others from banks or financial institutions during the year are not prejudicial to the interest of the Company. xi) In our opinion, and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained. xii) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, we have neither come across any instance of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of any such case by the Management. For Dalal & Shah Chartered Accountants LLP Firm Registration Number: 102020W| W-100040 S Venkatesh Mumbai Partner April 30, 2015 Membership Number: 037942