Corporate Overview Statutory Reports Financial Statements 183 g) No loans or advances in the nature of loans are granted to promoters, Directors, Key Managerial Personnel and the related parties (as defined under the Companies Act, 2013) either severally or jointly with any other person. h) The Company does not have any charges or satisfaction of charges which is yet to be registered with the Registrar of Companies beyond the statutory period. Note 29.23 Fire incident An incident of fire occurred on April 20, 2022, in one of the plants at Atul, Gujarat. There was no fatality or injury to any person, and damage was restricted to the affected plant. The Company has written off the carrying value of the assets destroyed by fire amounting to ` 35.60 cr year ended on March 31, 2023, by including it in other expenses. The Company has filed a claim in this regard with the insurance company which is under process. Against this claim, the Company has received an interim payment of ` 31.28 cr during the year ended on March 31, 2023, which was included in other income. The Company expects to complete the claim process during the financial year 2024-25. Note 29.24 Audit trail As per the requirements of Rule 3(1) of the Companies (Accounts) Rules 2014, the Company uses only such accounting software for maintaining its books of account that has a feature of, recording the audit trail of each and every transaction, creating an edit log of each change made in the books of account along with the date when such changes were made and who made those changes within such accounting software. This feature of recording audit trail has operated throughout the year and was not tampered with during the year. In respect of aforesaid accounting software, after thorough testing and validation, an audit trail was not enabled for direct data changes at database level in view of the possible impact on the efficiency of the system. In respect of the audit trail at the database level, the Company has established and maintained an adequate internal control framework over its financial reporting and based on its assessment, has concluded that the internal controls for the year ended March 31, 2024, were effective. The Company is in the process of system upgradation to meet the database level audit trail requirement. Note 29.25 Rounding off Figure less than ` 50,000 have been shown as ‘0.00’ in the relevant notes in these Standalone Financial Statement. Note 29.26 Authorisation for issue of the Standalone Financial Statements The Standalone Financial Statements were authorised for issue by the Board of Directors on April 26, 2024. Note 29.22 Other statutory information (required by Schedule III to the Companies Act, 2013) (continued) In terms of our report attached For Deloitte Haskins & Sells LLP For and on behalf of the Board of Directors Chartered Accountants T R Gopi Kannan M M Chitale P J Banerjee S S Lalbhai Ketan Vora (DIN:00048645) (DIN:00101004) (DIN:02985965) (DIN:00045590) Partner Whole-time Director and CFO Chairman and Managing Director L P Patni S A Panse R R Iyer S A Lalbhai Company Secretary (DIN:02599310) (DIN: 00474407) (DIN:00009278) Managing Director B N Mohanan B R Arora S D Abhyankar (DIN:00198716) (DIN:00194168) (DIN: 00108866) Whole-time Director and President - U&S S A Shah Mumbai (DIN: 00058019) Mumbai April 26, 2024 Directors April 26, 2024
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