Page 274 - Tata Chemical Annual Report_2022-2023

Integrated Annual Report 2022-23 01-83 84-192 193-365
Integrated Report
below, is not modified in respect of the above matter with b. In our opinion, proper books of account as a.
respect to our reliance on the work done and the reports required by law relating to preparation of the
of the other auditors. aforesaid Consolidated Financial Statements
have been kept so far as it appears from our
b. The Consolidated Financial Statements include the Group’s examination of those books and the reports of
share of net loss (and Other Comprehensive Income) of ` 77 the other auditors.
crore for the year ended March 31, 2023, as considered in the
Consolidated Financial Statements, in respect of an associate c. The Consolidated Balance Sheet, the b.
and a joint venture, whose financial statements/financial Consolidated Statement of Profit and Loss
information have not been audited by us or by other auditors. (including Other Comprehensive Income), the
These unaudited financial statements/financial information Consolidated Statement of Changes in Equity
have been furnished to us by the Management and our and the Consolidated Statement of Cash Flows
opinion on the Consolidated Financial Statements, in so dealt with by this Report are in agreement with
far as it relates to the amounts and disclosures included in the relevant books of account maintained for
respect of this associate and joint venture, and our report in the purpose of preparation of the Consolidated
terms of sub-section (3) of Section 143 of the Act in so far as Financial Statements. c.
it relates to the aforesaid associate and joint venture, is based
solely on such unaudited financial statements / financial d. In our opinion, the aforesaid Consolidated
information. In our opinion and according to the information Financial Statements comply with the Ind AS
and explanations given to us by the Management, these specified under Section 133 of the Act.
financial statements/financial information are not material
to the Group. e. On the basis of the written representations
received from the directors of the Holding
Our opinion on the Consolidated Financial Statements, and Company as on March 31, 2023 taken on d (i)
our report on Other Legal and Regulatory Requirements record by the Board of Directorsof the Holding
below, is not modified in respect of this matter with respect Company and the reports of the statutory
to the financial statements/financial information certified by auditors of its subsidiary company incorporated
the Management. in India incorporated in India, none of the
directors of the Group companies incorporated
Report on Other Legal and Regulatory in India is disqualified as on March 31, 2023 from
Requirements being appointed as a director in terms of Section
1. As required by the Companies (Auditor’s Report) Order, 164(2) of the Act.
2020 (“the Order”) issued by the Central Government of
India in terms of Section 143(11) of the Act, we give in f. With respect to the adequacy of the internal
the “Annexure A” a statement on the matters specified in financial controls with reference to financial
paragraphs 3 and 4 of the Order, to the extent applicable. statements of the Holding Company and
its subsidiary companies and the operating
2 A. As required by Section 143(3) of the Act, based on effectiveness of such controls, refer to our
our audit and on the consideration of reports of the separate Report in “Annexure B”.
other auditors on separate financial statements of
such subsidiaries and joint ventures as were audited B. With respect to the other matters to be included in
by other auditors, as noted in the “Other Matters” the Auditor’s Report in accordance with Rule 11 of
paragraph, we report, to the extent applicable, that: the Companies (Audit and Auditors) Rules, 2014, in
our opinion and to the best of our information and
a. We have sought and obtained all the according to the explanations given to us and based
information and explanations which to the best on the consideration of the reports of the other
of our knowledge and belief were necessary auditors on separate financial statements of the
for the purposes of our audit of the aforesaid subsidiaries and joint ventures, as noted in the “Other
Consolidated Financial Statements. Matters” paragraph:
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Statutory Reports Financial Statements
Consolidated
The Consolidated Financial Statements disclose
the impact of pending litigations as at March
31, 2023 on the consolidated financial position
of the Group, its associate and joint ventures.
Refer Note 21 and 47 to the Consolidated
Financial Statements.
Provision has been made in the Consolidated
Financial Statements, as required under the
applicable law or Ind AS, for material foreseeable
losses, on long-term contracts including
derivative contracts. Refer Note 20 and 43 to the
Consolidated Financial Statements in respect of
such items as it relates to the Group, its associate
and joint ventures.
There has been no delay in transferring amounts
to the Investor Education and Protection Fund
by the Holding Company or its subsidiary
company incorporated in India during the year
ended March 31, 2023 except for ` 0.69 crore
due to legal disputes with regard to ownership
that have remain unchanged.
The respective management of the
Holding Company and its subsidiary
companies incorporated in India whose
financial statements/financial information
have been audited under the Act have
represented to us that, to the best of
their knowledge and belief, as disclosed
in the Note 49(a) to the Consolidated
Financial Statements, no funds have been
advanced or loaned or invested (either
from borrowed funds or share premium e.
or any other sources or kind of funds)
by the Holding Company or subsidiary
companies incorporated in India to or in
any other person(s) or entity(ies), including
foreign entities (“Intermediaries”), with
the understanding, whether recorded in
writing or otherwise, that the Intermediary
shall directly or indirectly lend or invest
in other persons or entities identified in
any manner whatsoever by or on behalf
of the Holding Company or subsidiary
companies incorporated in India
(“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf of
the Ultimate Beneficiaries.
(ii) The respective management of the
Holding Company and its subsidiary
companies incorporated in India whose
financial statements/financial information
have been audited under the Act have
represented to us that, to the best of their
knowledge and belief, as disclosed in the
Note 49(a) to the Consolidated Financial
Statements, no funds have been received
by the Holding Company or subsidiary
companies incorporated in India from
any person(s) or entity(ies), including
foreign entities (“Funding Parties”), with
the understanding, whether recorded
in writing or otherwise, that the Holding
Company or subsidiary companies
incorporated in India shall directly or
indirectly, lend or invest in other persons
or entities identified in any manner
whatsoever by or on behalf of the Funding
Parties (“Ultimate Beneficiaries”) or provide
any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.
(iii) Based on the audit procedures that
have been considered reasonable
and appropriate in the circumstances
performed by us, nothing has come to our
or other auditor notice that has caused
us or the other auditor to believe that the
representations under sub-clause (i) and (ii)
of Rule 11(e), as provided under (i) and (ii)
above, contain any material misstatement.
The final dividend paid by the Holding Company
and its subsidiary company incorporated in India
during the year, in respect of the same declared
for the previous year, is in accordance with
Section 123 of the Act to the extent it applies to
payment of dividend.
As stated in Note 17.6 to the Consolidated
Financial Statements, the respective Board
of Directors of the Holding Company and its
subsidiary company incorporated in India have
proposed final dividend for the year which
is subject to the approval of the respective
members at the ensuing Annual General
Meeting. The dividend declared is in accordance
with Section 123 of the Act to the extent it
applies to declaration of dividend.
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