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TŠĺĚƑĚŠƥ ŕĿŞĿƥîƥĿūŠƙ ūlj ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ūDŽĚƑ
ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij
07. Because of the inherent limitations of internal
ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ūDŽĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠijȡ ĿŠČŕƭēĿŠij
the possibility of collusion or improper management
override of controls, material misstatements due to
error or fraud may occur and not be detected. Also,
ƎƑūŏĚČƥĿūŠƙ ūlj îŠNj ĚDŽîŕƭîƥĿūŠ ūlj ƥĺĚ ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ
ČūŠƥƑūŕƙ ūDŽĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ƥū ljƭƥƭƑĚ ƎĚƑĿūēƙ îƑĚ
ƙƭċŏĚČƥ ƥū ƥĺĚ ƑĿƙŒ ƥĺîƥ ƥĺĚ ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕ
ūDŽĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ŞîNj ċĚČūŞĚ ĿŠîēĚƐƭîƥĚ
because of changes in conditions, or that the degree
of compliance with the policies or procedures may
deteriorate.
Opinion
08. In our opinion, to the best of our information and
according to the explanations given to us, the Company
has, in all material respects, an adequate internal
ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ƙNjƙƥĚŞ ūDŽĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij îŠē
ƙƭČĺ ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ūDŽĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij
were operating effectively as at March 31, 2019, based
ūŠ ƥĺĚ ĿŠƥĚƑŠîŕ ČūŠƥƑūŕ ūDŽĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ČƑĿƥĚƑĿî
established by the Company considering the essential
components of internal control stated in the Guidance
Note issued by the Institute of Chartered Accountants
of India.
For Deloitte Haskins & Sells LLP
Chartered Accountants
Firm registration number: 117366W | W-100018
Samir R. Shah
Mumbai,
Partner
April 26, 2019
Membership number: 101708
113
Standalone
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Independent Auditor’s Report