99 / 220
97
b) There were no undisputed amounts payable
in respect of provident fund, employees’ state
insurance, income tax, sales tax, service tax,
customs duty, excise duty, value added tax, cess,
goods and service tax and other material statutory
dues in arrears as at March 31, 2018 for a period
of more than 6 months from the date they became
payable.
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 CARO 2016 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 CARO 2016 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,
c) There are no disputed dues of sales tax, service
tax, customs duty, value added tax and goods and
service tax which have not been deposited as on
March 31, 2018. Details of dues of income tax and
excise duty which have not been deposited as on
March 31, 2018 on account of disputes are given
below:
Name of the
statute
Nature of
dues
Forum where the 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
1997-98 and
1999-2000
0.66
0.91
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)
1992-2018
4.41
0.11
Customs, Excise and Service Tax
Appellate Tribunal
1993-2016
5.17
0.50
High Court
1994-95
3.53
—
Customs Act,
1962
Custom duty Commissioner (Appeals)
1988-2009
3.19
—
High Court
2017-18
1.76
—
*
`
16,000.
where applicable, for all transactions with the Related
Parties and the details of Related Party Transactions
have been disclosed in the 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 CARO 2016 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 companies 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
Mumbai
Partner
April 27, 2018
Membership Number: 101708