Amal Ltd 2020-21

7 reporting as of March 31, 2021, and the Board believes that the controls are adequate. 08. Fixed deposits During 2020-21, the Company did not accept any fixed deposits. 09. Loans, guarantees, investments and security Particulars of loans, guarantees, investments and security provided are given at page numbers 78. 10. Subsidiary, associate and joint venture entities During 2020-21, Amal Speciality Chemicals Ltd was incorporated as awholly-owned subsidiary company of the Company. 11. Related party transactions All the transactions entered into with the related parties were in ordinary course of business and on arm’s length basis. Details of such transactions are given at page number 89. No transactions were entered into by the Company that requireddisclosure in FormAOC-2. 12. Corporate Social Responsibility Compos i t i on o f the Co rpo rat e Soc i a l Responsibility (CSR) Committee, the CSR Policy and the CSR Repor t are given at page number 12. 13. Annual return Annual return for 2020-21, is available on the website of the Company at www.amal.co.in/ investors/information-for-stakeholders/annual- general-meeting 14. Auditors Statutory Auditors Deloi tte Haskins & Sel ls LLP, Char tered Accountants were appointed as the Statutory Auditors of the Company at the 43 rd Annual General Meeting (AGM) held on June 30, 2017, until the conclusion of the 48 th AGM. The relevant Notes forming part of the Financial Statements are self-explanatory and give full information and explanation in respect to the observations made by the Auditors in their report. Secretarial Auditors Nirali Solanki & Co was appointed as the Secretarial Auditor by the Board of Directors in the meeting held on October 17, 2019 and its report is given at page number 15. 15. Directors’ responsibility statement Pursuant to Section 134(5) of the Companies Act, 2013, the Directors confirm that, to the best of their knowledge and belief: 15.1 In preparation of the annual accounts for the financial year ended March 31, 2021, the applicable accounting standards have been followed and there are no material departures. 15.2 The accounting policies were selected and applied consistently and judgements and estimates were made that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period. 15.3 Proper and sufficient care was taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 15.4 The attached annual accounts for the year ended March 31, 2021, were prepared on a going concern basis. 15.5 Adequate internal financial controls to be followed by the Company were laid down and they were adequate and operat ing effectively. 15.6 Proper systems were devised to ensure compliance with the provisions of all applicable laws and the same were adequate and operating effectively.