Amal Ltd 2019-20

Amal Ltd | Annual Report 2019-2020 In respect of immovable properties of land and buildings that have been taken on lease and disclosed as fixed asset in the Financial Statements, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement. ii) As explained to us, the inventories were physically verified during the year by the Management at reasonable intervals and no material discrepancieswere noticed on physical verification. iii) The Company has not granted any loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under Section 189 of the Companies Act, 2013 (the Act). iv) The Company has not granted any loans, made investments other than in mutual funds and fixed deposits or provided guarantees and hence reporting under Clause (iv) of the Order is not applicable. v) According to the information and explanations given to us, the Company has not accepted any deposit during the year hence reporting under Clause (v) of the Order is not applicable. vi) The maintenance of cost records has not been specified by the Central Government under Section 148(1) of the Company’s Act, 2013. vii) According to the information and explanations given to us, in respect of statutory dues: a) The Company has generally been regular in depositing undisputed statutory dues of the year, including provident fund (other than provident fund on certain allowances based on order of the Honourable Supreme Court of India dated February 28, 2019 in response to various civil appeals of other organisations, and according to information and explanations given to us, which is under evaluation by the Management), employees’ state insurance, income tax, customs duty, cess, goods and service tax Particulars of the land and building Gross Block as at March 31, 2020 ( ` in lakh) Net Block as at March 31, 2020 ( ` in lakh) Remarks Freehold land at Ankleshwar 3.33 3.33 The title deeds are in the name of Amal Products Limited, former name of the Company. Building (residential flat ) at Atul 2.32 2.06 Building (residential flats) at Ankleshwar 8.38 7.43 The title deeds are in the name of Amal Rasayan Limited, former name of the Company. (Referred to in paragraph 2 under ‘Report on other legal and regulatory requirements’ Section of our report of even date) i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b) Fixed assets were physically verified during the year by the Management in accordance with a regular program of verification which, in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. According to the information and explanation given to us, no material discrepancies were noticed on such verification. c) According to the information and explanations given to us and the records examined by us and based on the examination of the registered sale deed | transfer deed | conveyance deed provided to us, we report that, the title deeds, comprising all the immovable properties, are held in the name of the Company as at the Balance Sheet date, except for the following land and buildings: Annexure B to the Independent Auditor’s Report