89 / 172
87
Name of the
statute
Nature of
dues
Amount
(
`
cr)
1
Period to which
the amount
relates
Forum where the dispute is
pending
2
Central Excise
Act, 1944
Excise and
service tax
0.93
4.99
3.53
1986 to 2014
1992 to 2011
1993-94
Commissioner (Appeals)
Customs, Excise and Service Tax Appellate
Tribunal
High Court
Customs Act,
1962
Customs duty
1.76 1997-98
Customs, Excise and Service Tax Appellate
Tribunal
Income Tax Act,
1961
Income tax
1.83 2007-08, 2009-11 Commissioner of Income Tax (Appeals)
1
Net of amounts deposited. |
2
Necessary stay received from respective authorities.
08. According to the records of the Company examined
by us and the information and explanations given
to us, the Company has not defaulted in repayment
of loans or borrowings to any financial institution or
bank or Government or dues to debenture holders
as at the Balance Sheet date.
09. The Company has not raised any moneys by way
of initial public offer, further public offer (including
debt instruments) and term loans. Accordingly,
the provisions of Clause 3(ix) of the Order are not
applicable to the Company.
10. During the course of our examination of the
books and records of the Company, carried out in
accordance with the Generally Accepted Auditing
practices in India, and according to the information
and explanations given to us, we have neither
come across any instance of material fraud by the
Company or on the Company by its officers or
employees, noticed or reported during the year, nor
have we been informed of any such case by the
Management.
11. The Company has paid | provided for managerial
remuneration in accordance with the requisite
approvals mandated by the provisions of Section
197 read with Schedule V to the Act.
12. As the Company is not a Nidhi Company and the
Nidhi Rules, 2014 are not applicable to it, the
provisions of Clause 3(xii) of the Order are not
applicable to the Company.
13. According to the information and explanations
given to us, all transactions with Related Party are
in compliance with the provisions of Section 177
and Section 188 of the Act, where applicable. The
details of the Related Party Transactions have been
disclosed in the Financial Statements as required
under Accounting Standard (AS) 18, Related Party
Disclosures specified under Section 133 of the Act,
read with Rule 7 of the Companies (Accounts)
Rules, 2014.
14. The Company has not made any preferential
allotment or private placement of shares or fully or
partly convertible debentures during the year under
review. Accordingly, the provisions of Clause 3(xiv)
of the Order are not applicable to the Company.
15. The Company has not entered into any non-cash
transactions with its Directors or persons connected
with him. Accordingly, the provisions of Clause 3(xv)
of the Order are not applicable to the Company.
16. The Company is not required to be registered under
Section 45-IA of the Reserve Bank of India Act,
1934. Accordingly, the provisions of Clause 3(xvi)
of the Order are not applicable to the Company.
For Dalal & Shah Chartered Accountants LLP
Firm Registration Number: 102020W| W-100040
S Venkatesh
Mumbai
Partner
April 29, 2016
Membership Number: 037942