Investor Presentaiton
156
f)
g)
h)
of its subsidiary companies incorporated in India, none of
the directors of the Group companies is disqualified as on
31st March, 2023 from being appointed as a director in terms
of Section 164(2) of the Act.
With respect to the adequacy of the internal financial controls
with reference to Financial Statements of the Group and the
operating effectiveness of such controls, refer to our separate
Report in "Annexure A".
As required by section 197(16) of the Act, based on our
audit, we report that the Holding Company and its subsidiary
companies incorporated in India, has paid and provided for
remuneration to its directors during the year in accordance
with the provisions of and limits laid down under section 197
read with Schedule V to the Act.
With respect to the other matters to be included in the Auditor's
Report in accordance with Rule 11 of the Companies (Audit
and Auditors) Rules, 2014, in our opinion and to the best of
our information and according to the explanations given to us:
The Consolidated Financial Statements disclose the
impact of pending litigations on the Consolidated
financial position of the Group - Refer Note 25 (j) to the
Consolidated Financial Statements;
i.
ii.
iii.
iv.
The Group has long-term contracts including derivative
contracts for which there were no material foreseeable
losses;
There has been no delay in transferring amounts,
required to be transferred to the Investor Education
and Protection Fund by the Holding company and its
subsidiary companies incorporated in India.
(a) The respective Managements of the Company and
its subsidiaries which are companies incorporated
in India, whose financial statements have been
audited under the Act, have represented to us that
to the best of their knowledge and belief, no funds
have been advanced or loaned or invested (either
from borrowed funds or share premium or any
(b)
(c)
other sources or kind of funds) by the Company
and its subsidiary companies incorporated in
India to or in any other person(s) or entity(ies),
including foreign entities ("Intermediaries"), with
the understanding whether recorded in writing
or otherwise that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons
or entities identified in any manner whatsoever
by or on behalf of the Company or any of its
subsidiaries, ("Ultimate Beneficiaries") or provide
any guarantee, security or the like on behalf of the
Ultimate Beneficiaries;
The respective Managements of the Company and
its subsidiaries which are companies incorporated
in India, whose financial statements have been
audited under the Act, have represented to us
that to the best of their knowledge and belief, no
funds have been received by the Company and
its subsidiary companies incorporated in India,
from any person(s) or entity(ies), including foreign
entities ("Funding Parties"), with the understanding,
whether recorded in writing or otherwise, that the
Company or any of its subsidiaries shall, directly
or indirectly, lend or invest in other persons or
entities identified in any manner whatsoever
by or on behalf of the Funding Party ("Ultimate
Beneficiaries") or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries;
and
Based on such audit procedures, we have
considered reasonable and appropriate in the
circumstances performed by us on the Company
and its subsidiaries, which are companies
incorporated in India whose financial statements
have been audited under the Act, nothing has
come to our notice that causes us to believe that
the above representations under sub-clause (i)
and (ii) of Rule 11(e) as provided under (a) and (b)
above, contain any material misstatement.View entire presentation