Amal Ltd | Annual Report 2023-24 Annexure “B” to the Independent Auditor’s Report Referred to in paragraph 2 under “Report on Other Legal and Regulatory Requirements” section of our report of even date. To the best of our information and explanations provided to us by the Company and the books of account and records examined by us in the normal course of audit, we state that: (i) (a) In respect of the Company’s Property, Plant and Equipment, right-of-use assets and Intangible Assets: (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment and relevant details of right-of-use asset. (B) The Company has maintained proper records showing full particulars of intangible assets. (b) The Company has a program of verification of property, plant and equipment, capital work-in-progress and right-to-use asset so to cover all the items once every 3 years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the program, no such assets were due for physical verification during the year. Since no physical verification of property, plant and equipment was due during the year the question of reporting on material discrepancies noted on verification does not arise.. (c) With respect to immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the Standalone Financial Statements included in Property, Plant and Equipment, according to the information 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 report that, the title deeds of such immovable properties are held in the name of the Company as at the Balance Sheet date, except for the following (Rs. in Lakhs) Description of Property Carrying Value Held in the name of Whether Promoter, Director or their relative of employee Period Held Reason for not being held in the name of the Company Building residential flat at Ankleshwar 1.05 Amal Rasayan Limited No 31-Mar-99 The title deeds are in the name of Amal Rasayan Limited, former name of the Company. (d) The Company has not revalued any of its property, plant and equipment (including Right of Use assets) and intangible assets during the year. (e) No proceedings have been initiated during the year or are pending against the Company as at March 31, 2024 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder. (ii) (a) The inventories were physically verified during the year by the Management at reasonable intervals. In our opinion and according to the information and explanations given to us, the coverage and procedure of such verification by the Management is appropriate having
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