Atul Ltd 2019-20

101 February 28, 2019 in response to various civil appeals of other and according to information and explanations given to us, which is under evaluation by the Management (Refer Note 28.6c)), employees’ state insurance, income tax, customs duty, cess, goods and services tax and other material statutory dues applicable to it to the appropriate authorities. b) There were no undisputed amounts payable in respect of provident fund payable (other than provident fund on certain allowances mentioned above), employees’ state insurance, income tax, customs duty, cess, goods and services tax and other material statutory dues in arrears as at March 31, 2020 for a period of more than six months from the date they became payable. c) There are no disputed dues of customs duty and goods and services tax which have not been deposited as on March 31, 2020. Details of dues of income tax and excise duty which have not been deposited as on March 31, 2020 on account of disputes are given below: Name of statute Nature of dues Forum where dispute is pending Period to which the amount relates Amount unpaid ( ` cr) Amount paid under protest ( ` cr) Income Tax Act, 1961 Income tax Commissioner of Income Tax (Appeals) Assessment year 2011-12, 2012-13 1.30 - Income Tax Appellate Tribunal 2010-11 * 0.87 The Central Excise Act, 1944 and Chapter V of the Finance Act, 1994 Excise duty and service tax Commissioner (Appeals) 1993-2016 0.09 # Customs, Excise and Service Tax Appellate Tribunal 1992-2018 1.79 0.14 High Court 1994-95 3.53 - Customs Act, 1962 Customs duty Commissioner (Appeals) 1994-2009 3.19 - High Court 2017-18 1.76 - * ` 16,000 | # ` 9,890 08. In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of loans or borrowings from financial institutions, banks and government. The Company has not issued any debentures. 09. The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) or term loans and hence reporting under Clause (ix) of the Order is not applicable. 10. To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company by its officers or employees has been noticed or reported during the year. 11. In our opinion and according to the information and explanations given to us, the Company has paid | provided managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Companies Act, 2013. 12. The Company is not a Nidhi Company and hence reporting under Clause (xii) of the Order is not applicable. 13. In our opinion and according to the information and explanations given to us, the Company is in compliance with Section 177 and 188 of the Companies Act, 2013, where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the Standalone Financial Statements, etc as required by the applicable accounting standards. 14. During the year, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures and hence reporting under Clause (xiv) of the Order is not applicable to the Company. 15. In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash transactions with its Directors or Directors of its subsidiary company or persons connected with them and hence provisions of Section 192 of the Companies Act, 2013 are not applicable. 16. The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. For Deloitte Haskins & Sells LLP Chartered Accountants Firm registration number: 117366W|W-100018 Samir R. Shah Partner Mumbai Membership number: 101708 April 28, 2020 UDIN: 20101708AAAABF6262 Standalone | Independent Auditor’s Report