MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

234 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 Name of the statute Nature of the dues Amount (Rs. In crores) Period to which the amount relates Forum where dispute is pending Sales Tax and Value Added Tax Sales Tax 201.40 2004-2018 Appellate Authority-Commissioner 180.46 1994-2016 High Court 3.85 2006-2010 Appellate Authority-Revisional Board 436.13 1991-1993 and 2003-2018 Appellate Authority-Tribunal Finance Act, 1994 Service Tax 48.82 2007-2018 Appellate Authority-Tribunal Customs Act, 1962 Duty of Customs 1.41 2008-2021 Appellate Authority-Commissioner 29.72 1991-1994 and 2018-2020 Appellate Authority-Tribunal GST Act, 2017 GST 11.11 2017-2021 Appellate Authority-Commissioner 0.71 2017-2021 Appellate Authority-Tribunal (viii) A ccording to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year. (ix) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not defaulted in repayment of loans and borrowing or in the payment of interest thereon to any lender. (b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not been declared a wilful defaulter by any bank or financial institution or government or government authority. (c) According to the information and explanations given to us by the management, the Company has not obtained any term loans during the year. Accordingly, clause 3(ix)(c) of the Order is not applicable. (d) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term purposes by the Company. (e) According to the information and explanations given to us and on an overall examination of the standalone financial statements of the Company, we report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures as defined under the Act. (f) According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies (as defined under the Act). (x) (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments). Accordingly, clause 3(x)(a) of the Order is not applicable. (b) According to the information and explanations given to us and on the basis of 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, clause 3(x)(b) of the Order is not applicable. (xi) (a) Based on examination of the books and records of the Company and according to the information and explanations given to us, considering the principles of materiality outlined in Standards on Auditing, we report that no fraud by the Company or on the Company has been noticed or reported during the course of the audit. (b) According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the auditors in Form ADT-4 as prescribed under Rule 13 of the Companies (Audit and Auditors) Rules, 2014 with the Central Government. (c) W e have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature, timing and extent of our audit procedures. (xii) A ccording to the information and explanations given to us, the Company is not a Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable.