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Atul Ltd | Annual Report 2011-12
Annexure
to the Report of the Auditors
complied with the provisions of Sections 58A and
58AA or any other relevant provisions of the Act and
the Companies (Acceptance of Deposits) Rules, 1975
with regard to the deposits accepted from the public.
According to the information and explanations given
to us, no Order has been passed by the Company Law
Board or National Company Law Tribunal or Reserve
Bank of India or any Court or any other Tribunal on
the Company in respect of the aforesaid deposits.
vii. In our opinion, the Company has an internal audit
system commensurate with its size and nature of its
business.
viii. We have broadly reviewed the books of account
maintained by the Company in respect of products
where, pursuant to the Rules made by the Central
Government of India, the maintenance of cost
records has been prescribed under Clause (d) of
sub-section (1) of Section 209 of the Act, and are of
the opinion that prima facie, the prescribed accounts
and records have been made and maintained. We
have not, however, made a detailed examination of
the records with a view to determine whether they
are accurate or complete.
ix. (a) According to the information and explanations
given to us and the records of the Company
examined by us, in our opinion, the Company is
regular in depositing the undisputed statutory
dues including Provident Fund, Investor
Education and Protection Fund, Employees
State Insurance, Income tax, Sales tax, Wealth
Tax, Service Tax, Customs Duty, Excise Duty,
Cess and other material statutory dues as
applicable with the appropriate authorities.
(b) According to the information and explanations
given to us and the records of the Company
examined by us, the particulars of dues of
income tax, sales tax, customs duty, excise duty
and cess as at March 31, 2012 which have not
been deposited on account of disputes are as
follows:
Name of the statute Nature of
dues
Amount
(
`
cr) (a)
Period to which
the amount
relates
Forum where the
dispute is pending (b)
Central Excise Act, 1944 Central excise
5.26
11.25
16.61
1977 to 2011
1993 to 2010
1993 to 2010
[Assistant Commissioner,
Joint Commissioner,
Commissioner (Appeals),
Customs, Excise & Service
Tax Appellate Tribunal,
Gujarat High Court]
Total :
33.12
Customs Act, 1962
Customs duty
5.37
12.65
1985-06 and 2006-07
to 2008-09
1995-96 and 2006-07
to 2008-09
[Assistant Commissioner,
Commissioner (Appeals),
Customs, Excise & Service
Tax Appellate Tribunal]
Total :
18.02
Income Tax Act, 1961
Income tax
12.13
5.57
2005-06 and 2006-07
2004-05 and 2007-08
[Commissioner of Income
tax (Appeals),
Income Tax Appellate
Tribunal,
Gujarat High Court]
Total :
17.70
Gujarat Sales Tax Act, 1969 Sales tax
0.74 2005-06
Joint Commissioner
Commercial Tax (Appeals)
Total :
0.74
(a) Net of amounts deposited.
(b) Necessary stay received from the respective authority.