Amal Ltd 2020-21

Amal Ltd | Annual Report 2020-21 Annexure B to the Independent Auditor’s Report In respect of immovable properties of land and buildings that have been taken on lease and disclosed as property, plant and equipment in the Standalone Financial Statements, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement. 2. 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. 3. According to the information and explanations given to us, 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). 4. The Company has not granted any loans, made investments other than a wholly-owned subsidiary company and in mutual funds or provided guarantees and hence reporting under Clause (iv) of the Order is not applicable. 5. According to the information and explanations given to us, the Company has not accepted any deposit during the year and unclaimed deposits, hence reporting under Clause (v) of the Order is not applicable. 6. The maintenance of cost records has not been specified by the Central Government under Section 148(1) of the Company’s Act, 2013. 7. According to the information and explanations given to us, in respect of statutory dues: a) TheCompany has been regular indepositing undisputed statutory dues of the year, including provident fund, employees’ state insurance, income tax, customs duty, cess, goods and service tax and other material statutory dues applicable to it to the appropriate authorities. Particulars of the land and building Gross block as at March 31, 2021 ( ` lakh) Net block as at March 31, 2021 ( ` lakh) Remarks Freehold land at Ankleshwar 3.33 3.33 The title deeds are in the name of Amal Products Ltd, former name of the Company. Building (residential flat ) at Atul 2.32 2.01 Building (residential flats) at Ankleshwar 8.38 7.23 The title deeds are in the name of Amal Rasayan Ltd, 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. 1. a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b) TheCompanyhasaprogramof verificationof fixed asset to cover all the items in a phased manner over a period of three yearswhich, in our opinion, is reasonable having regards to size of the Company and nature of its fixed assets. Pursuant to the program, certain fixed assets were physically verified by the Management during the year. According to the information and explanations given to us, no material discrepancies were noticed on such verification. c) Accord i ng to the i nformat i on 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 repor t that, the title deeds, comprising all the immovable properties of land and buildings, are held in the name of the Company as at the Balance Sheet date, except for the following: