annual-report-FY2021

226 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Name of the Statute Nature of Dues Amount (Rs. In crores) Period to which the amount relates Forum where dispute is pending Central Excise Act, 1944 Duty of Excise 3.25 2006-07 to 2009-10 High Court 234.32 1991-2016 Appellate Authority-Tribunal 734.93 1991-2017 Appellate Authority-Commissioner Sales Tax and Value Added Tax Sales tax 171.16 1994-2016 High Court 41.60 1991-2015 Appellate Authority-Tribunal 886.53 2003-2018 Appellate Authority-Commissioner 4.77 2006-2010 Appellate Authority-Revisional Board Finance Act, 1994 Service tax 35.15 2002-2015 Appellate Authority-Tribunal 2.18 2016-2018 Appellate Authority-Commissioner Customs Act, 1962 Duty of Customs 1.49 1996-2001 High Court 1.14 1990-1994 Appellate Authority-Tribunal 2,557.21 viii. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of loans or borrowings to financial institutions, banks and government and outstanding dues to debenture holders during the year. ix. The Company did not raise any money by way of initial public offer or further public offer (including debt instruments) during the year. In our opinion and according to the information and explanations given to us, the term loans taken by the Company has been applied for the purpose for which they were raised. x. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud by the Company or any material instances of fraud on the Company by its officers or employees, noticed or reported during the year, nor have we been informed of any such case by the management. xi. In our opinion and according to the information and explanations given to us, the Company has paid/provided managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act. xii. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company and Nidhi Rules, 2014 are not applicable to it. Accordingly, paragraph 3 (xii) of the Order is not applicable to the Company. xiii. In our opinion and according to the information and explanations given to us and based on our examination of the records of the Company, the Company has entered into transactions with the related parties in compliance with provision of Section 177 and 188 of the Act. The details of such related party transactions have been disclosed in standalone Ind AS financial statements as required under applicable Ind AS. xiv. According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly, paragraph 3 (xiv) of the Order is not applicable to the Company. xv. According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into any non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3 (xv) of the Order is not applicable to the Company. xvi. According to the information and explanations given to us and based on our examination of the records of the Company, the Company is not required to be registered under Section 45 IA of the Reserve Bank of India Act, 1934. Accordingly, paragraph 3 (xvi) of the Order is not applicable to the Company. For B S R & Co. LLP Chartered Accountants Firm’s Registration No. 101248W/W-100022 Jamil Khatri Partner Mumbai, 28 May, 2021 Membership No. 102527 UDIN: 21102527AAAAAV5209