7 The Management assessed the effectiveness of the internal financial controls over financial reporting as of March 31, 2022, and the Board believes that the controls are adequate. 08. Fixed deposits During 2021-22, 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 86. 10. Subsidiary, joint venture and associate entities There is no change in subsidiary, joint venture and associate entities during 2021-22. 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 99. No transactions were entered into by the Company that required disclosure in Form AOC-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 Report are given at page number 12. 13. Annual return Annual return for 2021-22, is available on the website of the Company at www.amal.co.in/ investors/information-for-stakeholders/annualgeneral-meeting/ 14. Auditors Statutory Auditors Deloi tte Haskins & Sel ls LLP, Char tered Accountants (DHS) were appointed as the Statutory Auditors of the Company at the 43rd Annual General Meeting (AGM) held on June 30, 2017, until the conclusion of the 48th AGM. The first term of five years of DHS is expiring at the ensuing AGM. Pursuant to Section 139 of the Companies Act, 2013 and Rules made thereunder, the Company can reappoint DHS for second term of five years. Accordingly, based on the recommendation of the Audit Committee, the Board at its meeting held on April 22, 2022, recommended the reappointment of DHS, as the Statutory Auditors of the Company for a second term of five years. DHS will hold the office for a period of five consecutive years from the conclusion of the 48th AGM of the Company till the conclusion of the 53rd AGM to be held in the year 2027, subject to the approval of the members of the Company at the ensuing AGM. DHS has given its consent to act as the Auditors and confirmed its eligibility for reappointment. The Auditor’s Report for the financial year ended March 31, 2022, does not contain any qualification, reservation or adverse remark. The report is enclosedwith the Financial Statements in this annual report. Secretarial Auditors The Board appointed SPANJ & Associates, as the Secretarial Auditors on January 21, 2022 and their 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, 2022, 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 thus made 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.
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