Page 201 - Tata Chemical Annual Report_2022-2023

Integrated Annual Report 2022-23 01-83 84-192 193-365
Integrated Report Statutory Reports Financial Statements
Standalone

shall directly or indirectly, lend or invest in f. As proviso to rule 3(1) of the Companies Annexure A to the Independent Auditor’s Report on the
other persons or entities identified in any (Accounts) Rules, 2014 is applicable for the
manner whatsoever by or on behalf of the Company only with effect from 1 April 2023, Standalone Financial Statements of Tata Chemicals Limited
Funding Parties (“Ultimate Beneficiaries”) reporting under Rule 11(g) of the Companies
or provide any guarantee, security or the (Audit and Auditors) Rules, 2014 is not applicable. for the year ended March 31, 2023
like on behalf of the Ultimate Beneficiaries.
C. With respect to the matter to be included in the (Referred to in paragraph 1 under ‘Report on Other programme, certain property, plant and equipment
(iii) Based on the audit procedures performed Auditor’s Report under Section 197(16) of the Act: Legal and Regulatory Requirements’ section of our and investment properties were verified during
that have been considered reasonable and report of even date) the year. In our opinion, this periodicity of physical
appropriate in the circumstances, nothing In our opinion and according to the information and (i) (a) (A) The Company has maintained proper records verification is reasonable having regard to the size
has come to our notice that has caused us explanations given to us, the remuneration paid/ showing full particulars, including quantitative of the Company and the nature of its assets. We are
to believe that the representations under payable by the Company to its directors during the details and situation of Property, Plant informed that the discrepancies were not material
sub-clause (i) and (ii) of Rule 11(e), as current year is in accordance with the provisions of and Equipment. and have been properly dealt with in the books
provided under (i) and (ii) above, contain Section 197 of the Act. The remuneration paid to any of account.
any material misstatement. director is not in excess of the limit laid down under (B) The Company has maintained proper records
Section 197 of the Act. The Ministry of Corporate showing full particulars of intangible assets. (c) According to the information and explanations
e. The final dividend paid by the Company during Affairs has not prescribed other details under given to us and on the basis of our examination
the year, in respect of the same declared for the Section 197(16) of the Act which are required to be (b) According to the information and explanations given of the records of the Company, the title deeds of
previous year, is in accordance with Section 123 commented upon by us. to us and on the basis of our examination of the immovable properties (other ther than immovable
of the Act to the extent it applies to payment records of the Company, the Company has a regular properties where the Company is the lessee and
of dividend. For B S R & Co. LLP programme of physical verification of its Property, the leases agreements are duly executed in favour
Chartered Accountants Plant and Equipment and investment properties of the lessee) disclosed in the Standalone Financial
As stated in Note 16.5 to the Standalone Firm’s Registration No.:101248W/W-100022 by which all property, plant and equipment and Statements are held in the name of the Company,
Financial Statements, the Board of Directors investment properties are verified in a phased manner except for the following which are not held in the
of the Company has proposed final dividend over a period of three years. In accordance with this name of the Company:
for the year which is subject to the approval of Vijay Mathur
the members at the ensuing Annual General Partner Description Gross Held in the name of Whether promoter, Period held- Reason for not being held in
Meeting. The dividend declared is in accordance Mumbai, Membership No.: 046476 of property carrying director or their indicate range, the name of the company Also
with Section 123 of the Act to the extent it May 3, 2023 ICAI UDIN:23046476BGYAIB8612 value relative or employee where appropriate indicate if in dispute
applies to declaration of dividend. Freehold land 0 Government of Gujarat No Since 1970 It is under litigation since 2019
in Poshitra
Leasehold land ` 2.03 crore Maharashtra Industrial No Since Dec 2008 Lease deed is not executed
at Nanded Development Corporation

(d) According to the information and explanations stocks lying with third parties at the year-end, written
given to us and on the basis of our examination of confirmations have been obtained and for goods-in-
the records of the Company, the Company has not transit subsequent evidence of receipts has been
revalued its Property, Plant and Equipment (including linked with inventory records. In our opinion, the
Right of Use assets) or intangible assets or both during frequency of such verification is reasonable and
the year. procedures and coverage as followed by management
were appropriate. No discrepancies were noticed on
(e) According to the information and explanations given verification between the physical stocks and the book
to us and on the basis of our examination of the records that were more than 10% in the aggregate of
records of the Company, there are no proceedings each class of inventory
initiated or pending against the Company for
holding any benami property under the Prohibition (b) According to the information and explanations
of Benami Property Transactions Act, 1988 and rules given to us and on the basis of our examination of
made thereunder. the records of the Company, the Company has been
sanctioned working capital limits in excess of five
(ii) (a) The inventory, except Inward goods-in-transit and crore rupees, in aggregate, from banks or financial
stocks lying with third parties, has been physically institutions on the basis of security of current assets.
verified by the management during the year.For In our opinion, the quarterly returns or statements

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