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01 INTEGRATED 73 STATUTORY 178 FINANCIAL
REPORTS
REPORT
STATEMENTS
Consolidated

Meaning of Internal Financial controls with the possibility of collusion or improper management override of
Reference to Consolidated Financial Statements controls, material misstatements due to error or fraud may occur
A company’s internal financial controls with reference to and not be detected. Also, projections of any evaluation of the
Consolidated Financial Statements is a process designed internal financial controls with reference to Consolidated Financial
to provide reasonable assurance regarding the reliability of Statements to future periods are subject to the risk that the
financial reporting and the preparation of Consolidated Financial internal financial controls with reference to Consolidated Financial
Statements for external purposes in accordance with generally Statements may become inadequate because of changes in
accepted accounting principles. A company’s internal financial conditions, or that the degree of compliance with the policies or
controls with reference to Consolidated Financial Statements procedures may deteriorate.
include those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and Other Matters
fairly reflect the transactions and dispositions of the assets of the Our aforesaid report under Section 143(3)(i) of the Act on the
company; (2) provide reasonable assurance that transactions are adequacy and operating effectiveness of the internal financial
recorded as necessary to permit preparation of Consolidated controls with reference to Consolidated Financial Statements
Financial Statements in accordance with generally accepted insofar as it relates to one joint venture company, which is a
accounting principles, and that receipts and expenditures of the company incorporated in India, is based on the corresponding
company are being made only in accordance with authorizations report of the auditor of such company incorporated in India.
of management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection For B S R & Co. LLP
of unauthorized acquisition, use, or disposition of the company’s Chartered Accountants
assets that could have a material effect on the Consolidated Firm’s Registration No. 101248W/W-100022
Financial Statements.
Vijay Mathur
Inherent Limitations of Internal Financial controls Partner
with Reference to Consolidated Financial Mumbai Membership No: 046476
Statements
April 29, 2022 UDIN: 22046476AIAYMT9118
Because of the inherent limitations of internal financial controls
with reference to Consolidated Financial Statements, including

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