85 Corporate Overview Performance Overview Financial Statements Governance Overview Statutory Reports In our opinion and based on information and explanations given to us, the coverage and procedure of such verification by the Management is appropriate having regard to the size of the Company and the nature of its operations. For goods-in-transit, the goods have been received subsequent to the year end. No discrepancies of 10% or more in the aggregate for each class of inventories were noticed on such physical verification of inventories, when compared with the books of account. (b) According to the information and explanations given to us, the Company has not been sanctioned working capital limits in excess of ` 5 crores, in aggregate, at any point of time during the year, from banks or financial institutions on the basis of security of current assets. Hence, reporting on the quarterly returns or statements filed by the Company with such banks or financial institutions is not applicable. (iii) The Company has made investments in a company and not granted loans, secured or unsecured, to companies, or any other parties during the year, in respect of which: (a) The Company has not provided any loans or advances in the nature of loans or stood guarantee, or provided security to any other entity during the year, and hence reporting under clause (iii)(a) of the Order is not applicable. (b) The investments made, during the year are, in our opinion, not prejudicial to the Company’s interest. (c) The Company has not provided any loans or advances in the nature of loans or stood guarantee, or provided security to any other entity during the year, and hence reporting under clause (iii)(c),(d), (e) and (f) of the Order is not applicable. (iv) According to information and explanations given to us, the Company has not granted any loans or made investments covered under the provisions of section 185 of the Companies Act 2013. The Company has complied with the provisions of sections 186 of the Companies Act, 2013 as applicable. (v) The Company has not accepted any deposit or amounts which are deemed to be deposits. Hence, reporting under clause (v) of the Order is not applicable. (vi) The maintenance of cost records has been specified by the Central Government under section 148(1) of the Companies Act, 2013. We have broadly reviewed the books of accounts maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014, as amended, prescribed by the Central Government for maintenance of cost records under section 148(1) of the Companies Act, 2013, and are of the opinion that, prima facie, the prescribed cost records have been made and maintained by the Company. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. (vii) In respect of statutory dues: (a) Undisputed statutory dues of the year, including Goods and Service Tax, Provident Fund, Employees’ State Insurance, Incometax, Sales Tax, Service Tax, duty of Custom, duty of Excise, Value Added Tax, cess and other material statutory dues applicable to the Company have generally been regularly deposited by it with the appropriate authorities. We have been informed that the provisions of the Service Tax, Sales Tax, duty of Excise and Value added tax are not applicable to the Company. There were no undisputed amounts payable in respect of Goods and Service Tax, Provident
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