38 01. a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b) The Company has a program of verification of fixed asset to cover all the items in a phased manner over a period of three years which, in our opinion, is reasonable having regards to size of the Company and nature of its fixed assets. Pursuant to the program, certain fixed assets were physically verified by the Management during the year. According to the information and explanations given to us, no material discrepancies were noticed on such verification. c) According to the information and explanations given to us and the records examined by us and based on the examination of the lease deed provided to us, we report that, in respect of immovable property of buildings that have been taken on lease and disclosed as property, plant and equipment in the Financial Statements, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement. 02. As explained to us, the inventories were physically verified during the year by the Management at reasonable intervals except goods-in-transit and stocks lying with third parties. In respect of inventory lying with third parties at the year end, written confirmations have been obtained by the Management. No material discrepancies were noticed on physical verification. 03. According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under Section 189 of the Companies Act, 2013 (the Act ). 04. In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of Sections 185 and 186 of the Act in respect of grant of loans, making investments and providing guarantees and securities, as applicable. 05. According to the information and explanations given to us, the Company has not accepted any deposit during the year and there are no unclaimed deposits hence reporting under Clause (v) of the Order is not applicable. 06. The maintenance of cost records has been specified by theCentral Government under Section 148(1) of the Act. We have broadly reviewed the cost recordsmaintained by the Company pursuant to the Companies (Cost Records and Audit ) Rules, 2014, as amended and prescribed by the Central Government under Sub-section (1) of Section 148 of the Act, and are of the opinion that, prima facie, the prescribed cost records have been made and maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. 07. According to the information and explanations given to us, in respect of statutory dues: a) The Company has generally been regular in depositing undisputed statutory dues of the year, including provident fund, employees’ state insurance, income-tax, customs duty, cess, goods and service tax and other material statutory dues applicable to it to the appropriate authorities. b) There were no undisputed amounts payable in respect of provident fund, employees’ state insurance, income-tax, customs duty, cess, goods and service Tax and other material statutory dues in arrears as at March 31, 2021, for a period of more than six months from the date they became payable. c) Details of dues of income-tax that have not been deposited as on March 31, 2021, on account of disputes are given as follows: Annexure B to the Independent Auditor’s Report Referred to in paragraph 2 under the ‘Report on other legal and regulatory requirements’ section of our report of even date.
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