Page 122 - KRCL ENglish

than the yield of government security, then prevailing, close to the tenor of the loan.
The same is in contravention to the sub-section 7 of section 186 of the Companies Act
2013. The company has complied the provisions of section 186 of the Companies Act
2013 in respect of Investment made with Associate Company.

(v) The Company has not accepted any deposits from the public within the meaning of
the directives issued by the Reserve Bank of India, provisions of section 73 to 76 of the
Act, any other relevant provisions of the Act and the relevant rules framed thereunder.
Accordingly, paragraph 3(v) of the Order is not applicable.

(vi) According to the information and explanations given to us and on the basis of our
examination of the records, the maintenance of cost records has not been specied
by the Central Government under section 148 (1) of the Companies Act 2013 for the
business activities carried out by the Company. Accordingly, paragraph 3(vi) of the
Order is not applicable.

(vii) (a) According to the information and explanations given to us and on the basis of our
examination of the records, the Company has generally been regular in depositing
undisputed statutory dues including Provident Fund, Income-Tax, Goods and
Services Tax, Duty of Customs, Cess and other statutory dues with the appropriate
authorities applicable to the company. As explained to us, the employee's state
insurance is not applicable to the company.

According to the information and explanations given to us and on the basis of our
examination of the records, no material undisputed arrears of statutory dues including
Provident Fund, Income-Tax, Goods and Services Tax, Duty of Customs, Cess and
other statutory dues with the appropriate authorities applicable to the company were
outstanding as on 31st March, 2020 for a period of more than six months from the date
they become.

Further Sales-Tax, Service Tax, Duty of Excise and Value Added Tax are not applicable
to the company during the current nancial year due to migration of the all indirect
taxes to Goods and Services Tax and for other reasons.

(b)According to the information and explanations given to us, there are no material
disputed dues of Sales-Tax, Duty of Excise and Duty of customs which have not been
deposited on account of dispute. The details of dues of Income Tax, Value Added Tax,
and Service Tax which have not been deposited by the company on account of
disputes and the forum where the dispute is pending are given as under along with the
details of amount deposited under protest / adjusted by tax authorities:

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