Page 140 - Tata_Chemicals_yearly-reports-2017-18

(` in crore)
Name of Act Nature of Dues Amount Period to which amount relates Forum where dispute is
(in ` Crore)* pending
Customs Act, 1962 Customs duty 23.43 2012-13 , 2015-2016 Appellate Tribunal
0.35 1987-88 , 1992-93 , 2001-02 , 2011-12 , 2012-13 Below appellate authority
Central Excise Act, 1944 Excise Duty 0.27 1974-1980 , 1978-79 , 1982-83, 1981-85 Supreme Court
50.31 2005-06 High Court
27.46 1985-1986, 1986-1987, 1987-88 , 2006-07 to 2010-11 Appellate Tribunal
3.02 1996-97, 2004-05, 2005-07, 2009-10, 2012-13 Below appellate authority
Central Sales Tax Act Sales Tax (Central 20.00 2009-10, 2015-16 High Court
1956 and Sales Tax Act of and State) and 0.89 1999-00, 2004-05, 2005-06, 2007-08 , 2007-08 Appellate Tribunal
various states value added tax
13.43 1991-92 to 1994-95, 1997-98, 1998-99, 1999-00, 2002-06, 2008-16 Below appellate authority
The West Bengal Tax on Entry tax 96.48 2012-13 to 2015-16 High Court
Entry of goods into local
areas Act, 2012
The Finance Act, 1994 Service tax 11.67 2010-11 , 2011-12 Appellate Tribunal
(Service Tax)
Income Tax Act, 1961 Income tax 44.90 AY 2014-15 Commissioner of Income
Tax (Appeals)
*net of amounts paid under protest.
(viii) In our opinion and according to the information and the Company has paid/provided for managerial remuneration
explanations given to us, the Company has not defaulted in accordance with the requisite approvals mandated by the
in repayment of loans or borrowings to banks and dues provisions of Section 197 read with Schedule V to the Act.
to debenture holders. The Company does not have any (xii) In our opinion and according to the information and
outstanding dues to financial institutions and Government.
explanations given to us, the Company is not a Nidhi company.
(ix) According to the information and explanations given to us and Accordingly, paragraph 3 (xii) of the Order is not applicable to
based on our examination of the records of the Company, the the Company.
Company has not raised any moneys by way of initial public (xiii) According to the information and explanations given to us
offer or further public offer (including debt instruments) and and based on our examination of the records of the Company,
has not obtained any term loans during the year. Accordingly, transactions with the related parties are in compliance with
paragraph 3 (ix) of the Order is not applicable to the Company.
Sections 177 and 188 of the Act where applicable and details
(x) According to the information and explanations given to us, of such transactions have been disclosed in the standalone Ind
the Company has completed its investigation into certain AS financial statements as required by applicable Ind AS.
instances of ethical lapses relating to previous years by (xiv) According to the information and explanations given to us and
certain employees, not being identified as key management based on our examination of the records of the Company, the
personnel. Based on this investigation, the Company has Company has not made any preferential allotment or private
determined that a fraud has been committed on the Company placement of shares or fully or partly convertible debentures
by such employees causing the Company to make payments during the year. Accordingly, paragraph 3 (xiv) of the Order is
for services which have not been received by the Company not applicable to the Company.
resulting in misappropriation of the Company’s assets. The
amounts involved in this case are not quantifiable. The (xv) According to the information and explanations given to us
Company applied a range of sanctions, upto and including and based on our examination of the records of the Company,
termination of relevant individuals and strengthened the the Company has not entered into any non-cash transactions
relevant internal controls. The Company identified an instance with directors or persons connected with them. Accordingly,
of fraud on the Company, wherein an employee, not being paragraph 3 (xv) of the Order is not applicable to the Company.
identified as key management personnel, altered accounting (xvi) In our opinion and according to the information and
records of the Company resulting in misappropriation of the explanations given to us, the Company is not required to be
Company’s assets estimated to be ` 34.36 crore relating to registered under Section 45-IA of the Reserve Bank of India
current and previous years. The Company has terminated Act, 1934. Accordingly, paragraph 3 (xvi) of the Order is not
the employment of the concerned employee and has also applicable to the Company.
initiated criminal action against the employee and other
beneficiaries. In our opinion and according to the information
For B S R & Co. LLP
and explanations given to us, no fraud by the Company and Chartered Accountants
except for the above matters, no other fraud on the Company
by its officers or employees, has been noticed or reported Firm’s Registration No: 101248W/W-100022
during the year.
Vijay Mathur
(xi) According to the information and explanations given to us Mumbai Partner
and based on our examination of the records of the Company,
18 May, 2018 Membership No: 046476
138 Annual Report 2017-18