(viii) The Company has not taken any loans or borrowings from financial institutions, banks and Government or has not issued any debentures. Hence, reporting under clause (viii) of the Order is not applicable to the Company. (ix) The Company has not raised monies by way of initial public offer or further public offer (including debt instruments) or term loans and hence, reporting under clause (ix) of the Order is not applicable. (x) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company by its officers or employees has been noticed or reported during the year. (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) The Company is not a Nidhi Company, and hence reporting under clause (xii) of the Order is not applicable. (xiii) In our opinion and according to the information and explanations given to us, the Company is in compliance with section 177 and 188 of the Act, where applicable, for all transactions with the Related Parties and the details of Related Party Transactions have been disclosed in the Financial Statements as required by the applicable Accounting Standards. (xiv) During the year, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures and hence reporting under clause (xiv) of the Order is not applicable to the Company. (xv) In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash transactions with its Directors or persons connected with them and hence, provisions of Section 192 of the Act are not applicable. (xvi) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Name of the statute Nature of dues Forum where Period to which Amount (`) the dispute is pending the amount relates The Income Tax Act, 1961 Income tax Commissioner of 2011 to 2012 18,58,210* Income Tax (Appeals) The Income Tax Act, 1961 Income tax Commissioner of 2015 to 2016 27,95,640** Income Tax (Appeals) The Finance Act, 1994 Service tax Commissioner of 2012-13 to 2014-15 13,52,053 Central Excise (Appeals) * Net of Rs. 3,27,800 paid under protest **Amount of Rs. 14,88,125 was already paid by the Company and the Rectification u/s 154 of the Income Tax Act, 1961 has been filed by the Company. For Deloitte Haskins & Sells LLP Chartered Accountants Firm's Registration Number: 117366W|W-100018 (Samir R. Shah) Partner Membership Number: 101708 Mumbai April 20, 2018 39
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