Amal Ltd | Annual Report 2022-23 f) TheCompanyhasnot raised loansduring the year on the pledge of securities held in its subsidiaries or joint ventures or associate companies. 10. a) In our opinion, moneys raised by way of further public offer via rights issue during the year have been, prima facie, applied by the Company for the purposes for which they were raised. b) During the year, the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence repor ting under Clause (x)(b) of the Order is not applicable to the Company. 11. a) No fraud by the Company and no material fraud on the Company has been noticed or reported during the year. b) No report under Sub-section (12) of Section 143 of the Companies Act, 2013 has been filed in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year. c) As represented tousby theManagement, there were no whistleblower complaints received by theCompany during the year. 12. The Company is not a Nidhi Company and hence reporting under Clause (xii) of the Order is not applicable. 13. In our opinion and according to the information and explanations given to us the Company is in compliance with Sections 177 and 188 of the Companies Act, 2013 where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the Standalone Financial statements etc. as required by the applicable accounting standards. 14. a) In our opinion the Company has an adequate internal audit system commensurate with the size and the nature of its business. b) We have considered, the internal audit reports issued to the Company during the year and covering the period upto February 2023 and the internal audit for themonth of March 2023will be covered in the next cycle falling due in the next Financial Year. 15. In our opinion, during the year, the Company has not entered into any non-cash transactions with its Directors or Directors of its subsidiary companies or persons connected with them and hence provisions of Section 192 of the Companies Act, 2013 are not applicable. 16. a) In our opinion, the Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Hence, reporting under Clause (xvi)(a), (b) and (c) of the Order is not applicable. b) In our opinion, the Group (the Company and its subsidiary company) does not have any core investment company (as defined in the Core Investment Companies (Reserve Bank) Directions, 2016) as par t of the group and accordingly reporting under Clause (xvi)(d) of the order is not applicable. 17. The Company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. 18. There has been no resignation of the Statutory Auditors of the Company during the year. 19. On the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the Standalone Financial Statements and our knowledge of the Board of Directors and Management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the Audit Report indicating that Company is not capable of meeting its liabilities existing at
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