Page 154 - BCML AR 2019-20

FINANCIAL STATEMENTS

4. With respect to the reporting under section 197(16) of the For Lodha & Co,
Act to be included in the Auditors’ Report, in our opinion and Chartered Accountants
according to the information and explanations given to us, the Firm’s ICAI Registration No.:301051E
remuneration (including sitting fees) paid by the Company to
its Directors during the current year is in accordance with the sd/-
provisions of section 197 of the Act and is not in excess of the Place of signature: Kolkata R. P. Singh
limit laid down therein. Date: 23rd June, 2020 Partner
Membership No: 052438
UDIN:20052438AAAABA9486

ANNEXURE “A” TO THE AUDITORS’ REPORT OF EVEN DATE:

i) a. The Company has maintained proper records showing verification carried out on a subsequent date in presence and
full particulars, including quantitative details and supervision of Independent firms of chartered accountants,
situations of its fixed assets. entrusted with such responsibility. The discrepancies noted
during the year have been properly dealt with in the books of
b. During the year, fixed assets have been physically verified the account.
by the management according to a regular programme
of verification which, in our opinion, is reasonable having iii) The Company has not granted any loans secured or unsecured
regard to the size of the Company and the nature of to companies, firms or parties covered in the register
its assets. As informed, no material discrepancies were maintained under Section 189 of the Act. Accordingly, clause
noticed on such verifications. 3 (iii) of the Order is not applicable to the Company.

c. According to the information and explanations given to iv) In our opinion and according to the information and
us and on the basis of our examination of the records of explanations given to us, the Company has complied with
the Company, the title deeds of immovable properties, as the provisions of section 185 and 186 of the Act, with respect
disclosed in Note no 4 on Property, plant and equipment to the loans and investments made.
to financial statements, are held in the name of the
Company. v) The Company has not accepted any deposits from public
covered under Sections 73 to 76 or any other relevant
d. The title deeds of immovable properties pertaining to provisions of the Act and rules framed thereunder.
eight sugar units as given in Note No. 18(ii) have been
kept under the custody of Security trustee appointed vi) We have broadly reviewed the books of account maintained
pursuant to the charge created against such properties. by the Company pursuant to the Rules made by the Central
Government for the maintenance of cost records under
ii) As informed, the inventories of the Company, have been Section 148 (1) of the Act in respect of the Company’s
physically verified by the management during the year at products to which the said rules are made applicable and are
reasonable intervals and no material discrepancies were of the opinion that prima facie, the prescribed records have
noticed on such physical verification. The year-end verification been maintained. We have, however, not made a detailed
could not be carried out due to lock-down amidst COVID-19 examination of the said records with a view to determine
pandemic. The Inventories as on that date have been arrived whether they are accurate or complete.
at by rolling back the receipts and issues with respect to

vii) a. According to the information and explanations given to us, during the year, the Company has generally been regular in depositing
with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education Protection fund, Employees’
State Insurance, Income Tax, Custom Duty, Cess, Goods and Services Tax (GST) and other statutory dues as applicable to it.

b. According to the information and explanations given to us, the details of disputed dues of income tax or sales tax or service tax or
duty of customs or duty of excise and value added tax, if any, as at 31st March, 2020, are as follows:

Name of the Statute Nature of Dues Amount Period to which the Forum where dispute is pending
(H in Lacs) amount relates
The Central Sales Tax Act, Central Sales Tax 1.08 2009-10 Dy. Commissioner, (Appeal) -
1956 Balrampur

152 | Balrampur Chini Mills Limited