MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 282 8. DNV teams conducted the: • Verification of the data consolidation of reported performance disclosures in context to the Principle of Completeness. • Verification of the consolidated reported performance disclosures in context to the Principle of Completeness as per VeriSustainTM for reasonable level verification for the disclosures. Conclusion Reasonable level of Assurance- BRSR 9 Core Indicators Based on our review and procedures followed for reasonable level of assurance, DNV is of the opinion that, in all material aspects, the BRSR Core indicators (as listed in Annex I of this statement) for FY 2023-24 are reported in accordance with reporting requirements outlined in BRSR Core (Annexure I of SEBI Circular dated 12 July 2023). Statement of Competence and Independence DNV applies its own management standards and compliance policies for quality control, which are based on the principles enclosed within ISO IEC 17029:2019 – Conformity assessment – General principles are requirements for validation and verification bodies, and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements. We have complied with the DNV Code of Conduct1 during the assurance engagement and maintain independence wherever required by relevant ethical requirements. This engagement work was carried out by an independent team of sustainability assurance professionals. During the reporting period i.e FY 2023-24, DNV, to the best of its knowledge, was not involved in any non‑audit/non-assurance work with the Company and its Group entities which could lead to any Conflict of Interest. DNV was not involved in the preparation of any statements or data included in the Report except for this Assurance Statement for internal use of M&M Ltd. DNV maintains complete impartiality toward stakeholders interviewed during the assurance process. We did not provide any services to M&M Ltd in the scope of assurance for the reporting period that could compromise the independence or impartiality of our work. Purpose and Restriction on Distribution and Use This assurance statement, including our conclusion has been prepared solely for the exclusive use and benefit of management of the Company and solely for the purpose for which it is provided. To the fullest extent permitted by law, DNV does not assume responsibility to anyone other than the Company for DNV’s work or this assurance statement. The usage of this assurance statement shall be governed by the terms and conditions of the contract between DNV and M&M Ltd and DNV does not accept any liability if this assurance statement is used for an alternative purpose from which it is intended, nor to any third party in respect of this assurance statement. No part of this assurance statement shall be reproduced, distributed or communicated to a third party without prior written consent. For DNV Business Assurance India Private Limited Tushar Chaudhari Lead Verifier, Sustainability Services, DNV Business Assurance India Private Limited, India. Anjana Sharma Assurance Reviewer, Sustainability Services, DNV Business Assurance India Private Limited, India. Sameeksha Patil (Verifier) Roshni Sarage (Verifier) Varsha Bohiya (Verifier) 24th June, 2024, Pune, India. DNV Business Assurance India Private Limited is part of DNV – Business Assurance, a global provider of certification, verification, assessment and training services, helping customers to build sustainable business performance. www.dnv.com 1 DNV Corporate Governance & Code of Conduct - https://www.dnv.com/about/in-brief/corporate-governance.html
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