MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 298 Name of the statute Nature of the dues Amount (Rs. In crores) Period to which the amount relates Forum where dispute is pending Central Excise Act, 1944 Duty of Excise 0.27 2008-2013 Appellate Authority-Commissioner 200.62 1991, 2001, 2003-2005, 2006-2016 and 2017-2019 Appellate Authority-Tribunal 12.12 2007-2016 High Court 1,836.77 2007-2017 Supreme Court Sales Tax and Value Added Tax Sales Tax 184.01 2004-2018 Appellate Authority-Commissioner 440.26 1991-1993 and 2003-2018 Appellate Authority-Tribunal Level 101.05 1994-2016 High Court Finance Act, 1994 Service Tax 47.42 2007-2013 and 2016-2018 Appellate Authority-Tribunal 2.55 2016-2017 Appellate Authority-Commissioner Customs Act, 1962 Duty of Customs 16.43 2008-2012 And 2018-2020 Appellate Authority-Commissioner 16.18 1990-1994 and 2018-2020 Appellate Authority-Tribunal 7.79 1996-2001 Supreme Court GST Act, 2017 GST 34.02 2017-2021 Appellate Authority-Commissioner 0.78 2017, 2019-2021 and 2022 Appellate Authority-Tribunal 88.53 2017-2019 High Court (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) 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 defaulted in repayment of loans and borrowing or in the payment of interest thereon to any lender. (b) 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 been declared a wilful defaulter by any bank or financial institution or government or government authority. (c) A ccording 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) A ccording 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) 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 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) B ased 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.
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