63 the year, including goods and service tax, provident fund, employees’ state insurance, income tax, customs duty, cess and other material statutory dues applicable to it to the appropriate authorities. There were no undisputed amounts payable in respect of goods and service tax, provident fund, employees’ state insurance, income tax, customs duty, cess and other material statutory dues Name of statute Nature of dues Forum where dispute is pending Period to which the amount relates Amount (` lakhs) The Gujarat Sales Tax Act, 1969 Sales tax (including interest and penalty) High Court of Gujarat 1999-00 10.39 The Gujarat Sales Tax Act, 1969 Sales tax (including interest and penalty) Joint Commissioner, Surat 2001-02 to 2003-04 52.47 Nature of fund taken Name of lender On account of or to meet the obligations of subsidiary Amount involved Name of subsidiary Relation Nature of transaction for which funds are utilised Share Capital Shareholders ` 3,700 lakhs Amal Speciality Chemicals Limited Wholly-owned subsidiary Payment of term loan in arrears as at March 31, 2023, for a period of more than six months from the date they became payable. b) There are no disputed dues of income tax and goods and services tax which have not been deposited as on March 31, 2023. Details of dues of sales tax which have not been deposited as on March 31, 2023, on account of disputes are given below: 08. There were no transact ions relat ing to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year. 09. a) In our opinion the Company has not taken any loans or borrowings from any lender. Hence reporting under Clause (ix) (a) of the Order is not applicable to the Company. b) The Company has not been declared willful defaulter by any bank or financial inst i tut ion or government or any government authority. c) The Company has not taken any term loan during the year and there are no unutilised term loans at the beginning of the year and hence, reporting under Clause (ix)(c) of theOrder isnot applicable. d) Clause (ix)(d) is not applicable since the Company has not taken funds on short-term basis. e) On an overal l examination of the financial statements of the Company, the Company has taken funds from the shareholders to meet the obligations of its subsidiary as per the details given below:
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