Page 242 - Tata_Chemicals_yearly-reports-2019-20

Other Matters 2 joint ventures, whose Financial Statements have not
(a) We did not audit the Financial Statements of 30 subsidiaries, been audited by us or by other auditors. these unaudited
whose Financial Statements reflect total assets of ` 15,788.10 Financial Statements have been furnished to us by the
crore as at March 31, 2020, total revenues of ` 5,197.92 crore Holding Company’s Management and our opinion on the
Consolidated Financial Statements, in so far as it relates to
and net cash flows amounting to ` 309.72 crore for the the amounts and disclosures included in respect of these
year ended on that date, as considered in the Consolidated subsidiaries and joint ventures and our report in terms of
Financial Statements. the Consolidated Financial Statements sub-section (3)of Section 143 of the act in so far as it relates

also include the group’s share of net profit (and other to the aforesaid subsidiaries and joint ventures is based solely
comprehensive income) of ` 5.45 crore for the year ended on such unaudited Financial Statements. In our opinion and
March 31, 2020, in respect of 2 joint ventures, whose Financial according to the information and explanations given to us
Statements have not been audited by us. these Financial by the Holding Company’s Management, these unaudited
Statements have been audited by other auditors whose Financial Statements are not material to the group.
reports have been furnished to us by the Holding Company’s
Management and our opinion on the Consolidated Financial our opinion on the Consolidated Financial Statements, and
Statements, in so far as it relates to the amounts and our report on other legal and regulatory requirements
below, is not modified in respect of the above matters with
disclosures included in respect of these subsidiaries and respect to our reliance on the work done and the reports of

joint ventures, and our report in terms of sub-section (3) of the other auditors and the Financial Statements certified by
Section 143 of the act, in so far as it relates to the aforesaid the Holding Company’s Management.
subsidiaries and joint ventures is based solely on the audit
reports of the other auditors. Report on Other Legal and Regulatory
Requirements
Certain of these subsidiaries and joint ventures are located as required by Section 143(3) of the act, based on our audit and
outside India whose Financial Statements and other financial on the consideration of reports of the other auditors on separate
information have been prepared in accordance with Financial Statements of such subsidiaries and joint ventures as
accounting principles generally accepted in their respective were audited by other auditors, as noted in the ‘other Matters’
countries and which have been audited by other auditors paragraph, we report, to the extent applicable, that:
under generally accepted auditing standards applicable
in their respective countries. the Company’s management a) We have sought and obtained all the information and
has converted the Financial Statements of such subsidiaries explanations which to the best of our knowledge and belief
and joint ventures located outside India from accounting were necessary for the purposes of our audit of the aforesaid
principles generally accepted in their respective countries Consolidated Financial Statements.
to accounting principles generally accepted in India. We
have audited these conversion adjustments made by the b) In our opinion, proper books of account as required by
Company’s management. our opinion in so far as it relates law relating to preparation of the aforesaid Consolidated
to the balances and affairs of such subsidiaries and joint Financial Statements have been kept so far as it appears from
ventures located outside India is based on the reports of our examination of those books and the reports of the other
other auditors and the conversion adjustments prepared by auditors.
the management of the Company and audited by us.
c) the Consolidated Balance Sheet, the Consolidated
(b) the Financial Statements of 2 subsidiaries, whose Financial Statement of profit and loss (including other comprehensive
Statements reflect total assets of ` 89.02 crore as at March income), the Consolidated Statement of Changes in equity
31, 2020, total revenues of ` 164.97 crore and net cash flows and the Consolidated Statement of Cash Flows dealt with
amounting to ` 4.16 crore for the year ended on that date, by this report are in agreement with the relevant books of
as considered in the Consolidated Financial Statements, account maintained for the purpose of preparation of the
have not been audited either by us or by other auditors. the Consolidated Financial Statements.
Consolidated Financial Statements also include the group’s
share of net loss (and other comprehensive income) of ` d) In our opinion, the aforesaid Consolidated Financial
44.16 crore for the year ended March 31, 2020, as considered Statements comply with the Ind aS specified under section
in the Consolidated Financial Statements, in respect of 133 of the act.

240 I Integrated annual report 2019-20