Company Overview Financial Statements Notice Statutory Reports 37 Rudolf Atul Chemicals Ltd | Annual Report 2021-22 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. To the best of our information and explanations provided to us by the Company and the books of account and records examined by us in the normal course of audit, we state that: 01. a) In respect of the proper ty, plant and equipment and intangible assets of the Company: i) The Company has maintained proper records showing full particulars, including quantitative details and situation of property, plant and equipment, capital work-in-progress, and relevant details of right-of-use asset. ii) As the Company does not hold any intangible assets, reporting under Clause (i)(a)(B) of the Order is not applicable. b) The Company has a program of verification of property, plant and equipment, capital work-in-progress and right-of-use asset so as to cover all the items in a phased manner once in every three years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the program, property, plant and equipment were not due for verification during the year. Since no physical verification of property, plant and equipment was due during the year the question of repor ting on material discrepancies noted on verification does not arise. c) The Company does not have any immovable properties other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee and hence reporting under Clause (i)(c) of the Order is not applicable. d) The Company has not revalued any of its property, plant and equipment (including right of use assets) during the year. e) No proceedings have been ini t iated during the year or are pending against the Company as at 31 March, 2022, for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder. 02. a) The inventories except for (goods-in-transit and stocks held with third parties), were physically verified during the year by the Management at reasonable intervals. In our opinion, the coverage and procedure of such verification by the Management is appropriate having regard to the size of the Company and the nature of its operations. In respect of inventory lying with third parties at the year end, written confirmations have been obtained by the Management and in respect of goods-in-transit, the goods have been received subsequent to the year end. No discrepancies of 10% or more in the aggregate for each class of inventories were noticed on such physical verification of inventories, when compared with the books of account. b) At any point of time of the year, the Company has not been sanctioned anyworking capital facility from banks or financial institutions and hence reporting under Clause (ii)(b) of the Order is not applicable. 03. a) TheCompanyhas notmadeany investments in, provided any guarantee or security, and granted any loans or advances in the nature of loans, securedor unsecured, to companies, firms, limited liability partnerships or any other parties during the year, and hence reporting under Clause (iii)(a) and (b) of the Order is not applicable. b) In respect of loans granted by the Company, the schedule of repayment of principal and interest has been stipulated and the repayments of principal amounts of interest are regular as per stipulation. c) In respect of loans granted by the Company, there is no overdue amount remaining outstanding as at the Balance Sheet date. d) No loans by the Company which has fallen due during the year, has been renewed or extended or fresh loans granted to settle the overdues of existing loans given to the same parties. e) The Company has not granted any loans either repayable on demand or without specifying any terms or period of repayment during the year. Hence, reporting under Clause (iii)(f) is not applicable. 04. In our opinion, the Company has complied with the provisions of Sections 185 and 186 of the Act in respect of loans granted and investments made.
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