MAHINDRA & MAHINDRA LTD. Consolidated Accounts 353 vi. In case of 11 subsidiaries and 5 associate companies and 7 joint ventures, for one accounting software the audit trail log for direct data changes at database level in the software were maintained only for the period of last six months in the previous year ended 31 March 2024. Further, where audit trail (edit log) facility was enabled and operated throughout the year for the respective accounting software, we and the respective auditors of the above referred subsidiary companies, associate companies and joint ventures did not come across any instance of the audit trail feature being tampered with and except for the above, the audit trail has been preserved by the Holding Company, its subsidiary companies, associate companies and joint ventures as per the statutory requirements for record retention. C. With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act: In our opinion and according to the information and explanations given to us and based on the reports of the statutory auditors of such subsidiary companies, associate companies and joint ventures incorporated in India which were not audited by us, the remuneration paid during the current year by the Holding Company and its subsidiary companies, associate companies and joint ventures to its directors is in accordance with the provisions of Section 197 of the Act, where applicable. The remuneration paid to any director by the Holding Company and its subsidiary companies, associate companies and joint ventures is not in excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.: 101248W/W-100022 Venkataramanan Vishwanath Partner Place : Mumbai Membership No.: 113156 Date : 05 May 2025 ICAI UDIN: 25113156BMODJX8873
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