Page 155 - BCML AR 2019-20

BALRAMPUR CHINI MILLS LIMITED

viii) In our opinion and on the basis of information and xiii) According to the information and explanations given to us
explanations given to us by the management, we are of the and based on our examination of the records of the Company,
opinion that the Company has not defaulted in repayment transactions with the related parties are in compliance with
of dues to financial institutions, banks or government. The sections 177 and 188 of the Act where applicable and details
Company has not issued any debentures. of such transactions have been disclosed in the financial
statements as required by the applicable accounting
ix) In our opinion and according to the information and standards.
explanations given to us, the Company has not raised any
money by way of initial public offer or further public offer xiv) According to the information and explanations given to us
(including debt instruments) during the year. On the basis and based on our examination of the records of the Company,
of our examination and according to the information and the Company has not made any preferential allotment or
explanations given to us, money raised by way of term loans private placement of shares or fully or partly convertible
have been applied for the purpose for which the loans were debentures during the year.
obtained.
xv) According to the information and explanations given to us
x) During the course of our examination of books of account and as represented to us by the management and based on
carried out in accordance with generally accepted auditing our examination of the records of the Company, the Company
practices in India, we have neither come across incidence of has not entered into non-cash transactions with directors or
any material fraud on or by the Company nor have we been persons connected with them. Accordingly, paragraph 3(xv)
informed of any such cases by the management. of the Order is not applicable.
xi) According to the information and explanations given to us xvi) The Company is not required to be registered under section
and based on our examination of the records of the Company, 45-IA of the Reserve Bank of India Act 1934.
the Company has paid/provided for managerial remuneration
in accordance with the requisite approvals mandated by the For Lodha & Co
provisions of section 197 read with Schedule V to the Act. Chartered Accountants
Firm’s ICAI Registration No.:301051E
xii) In our opinion and according to the information and
explanations given to us, the Company is not a Nidhi sd/-
Company. Accordingly, paragraph 3(xii) of the Order is not R. P. Singh
applicable. Place of signature: Kolkata Partner
Date: 23rd June, 2020 Membership No: 052438
UDIN:20052438AAAABA9486

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