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Integrated report Statutory reportS Financial StatementS
Consolidated

e) on the basis of the written representations received from the iii. there has been no delay in transferring amounts to the
directors of the Holding Company and taken on record by the Investor education and protection Fund by the Holding
Board of directors of the Holding Company and the reports Company or its subsidiary companies and joint ventures
of the statutory auditors of its subsidiary companies and joint incorporated in India during the year ended March 31,
ventures incorporated in India, none of the directors of the 2020, except for ` 0.57 crores, wherein legal disputes
group companies and joint ventures incorporated in India is with regard to ownership have remained unresolved.
disqualified as on March 31, 2020 from being appointed as a
director in terms of Section 164(2) of the act. iv. the disclosures in the Consolidated Financial
Statements regarding holdings as well as dealings in
f) With respect to the adequacy of the internal financial specified bank notes during the period from november
controls with reference to Consolidated Financial Statements 8, 2016 to december 30, 2016 have not been made in
of the Holding Company, its subsidiary companies and the Consolidated Financial Statements since they do
joint ventures incorporated in India and the operating not pertain to the financial year ended March 31, 2020.
effectiveness of such controls, refer to our separate report in
“annexure a”. B. With respect to the matter to be included in the auditor’s
report under Section 197(16) of the act:
a. With respect to the other matters to be included in the In our opinion and according to the information and
auditor’s report in accordance with rule 11 of the Companies explanations given to us and based on the reports of the
(audit and auditor’s) rules, 2014, in our opinion and to the statutory auditors of such subsidiary companies and joint
best of our information and according to the explanations ventures incorporated in India which were not audited
given to us and based on the consideration of the reports by us, the remuneration paid during the current year by
of the other auditors on separate Financial Statements of the Holding Company, its subsidiary companies and joint
the subsidiaries and joint ventures , as noted in the ‘other ventures to its directors is in accordance with the provisions
Matters’ paragraph:
of Section 197 of the act. the remuneration paid to any
director by the Holding Company, its subsidiary companies
i. the Consolidated Financial Statements disclose the and joint ventures is not in excess of the limit laid down
impact of pending litigations as at March 31, 2020 under Section 197 of the act. the Ministry of Corporate
on the consolidated financial position of the group affairs has not prescribed other details under Section 197(16)
and its joint ventures. refer notes 21 and 47 to the of the act which are required to be commented upon by us.
Consolidated Financial Statements.
For B S R & Co. LLP
ii. provision has been made in the Consolidated Financial Chartered accountants
Statements, as required under the applicable law or Firm’s registration no: 101248W/ W-100022
Ind aS, for material foreseeable losses, on long-term
contracts including derivative contracts. refer note 20 Vijay Mathur
to the Consolidated Financial Statements in respect partner
of such items as it relates to the group and its joint Mumbai Membership no: 046476
ventures .
May 15, 2020 udIn : 20046476aaaaBS5857

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