Page 146 - KRCL ENglish
P. 146
Sr. No.
Emphasis
of Matter Statutory Auditor's Remarks Management Reply
Para:
According to the information and
explanation given to us and the KRCL has acquired the land during
record examined by us, the title construction phase through land
i (c) deeds of the leasehold land are acquisition process under Land
held in the name of the company. Acquisition Act 1894 and has clear
However, in respect of freehold titles of all such land through
land worth Rs.205.96 Crores held mutation process. Now the
by the company, due to lack of increase in land value is primarily
s u f c i e n t i n f o r m a t i o n a n d on account of increase in land
reconciliation with nance, we are compensation through decree of
unable to comment whether all the various courts and minor fresh
title deeds of such freehold land land acquisition.
are held in the name of the
Company.
iii (a) & (b) According to the information and
explanations given to us, the The sanctions of loans to KRWO
Company has granted unsecured @7% is as per BOD approval.
loans to its one of its related party-
K o n k a n R a i l w a y W e l f a r e
Organization, covered in the
register maintained under section
189 of the Companies Act,2013, in
respect of which:
(a) The terms and conditions of
grant of such loans are, in our
o p i n i o n , p r i m a f a c i e , n o t
prejudicial to the Company's
interest except that the loan is
unsecured and carrying simple
rate of interest of 7% per annum
which is lower than the cost of
funds to the company and also
lower than the prevailing yield of
government security close to the
tenor of the loan.
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