Independent Auditors Report Sample
Name of the
statute
Nature of dues
Amount
(in Rs)
Period to which
the amount
relates
Forum where
dispute is
pending
MVAT Act,
2005
Sales tax and
interest
2,276,534
April 2008 to
March 2009
Joint
Commissioner
(Commercial
Taxes)
MVAT Act,
2005
Sales tax and
interest
3,132,547 #
April 2009 to
March 2010
Joint
Commissioner
(Commercial
Taxes)
Central
Excise Act,
1944
Excise duty and
penalty
48,139,052 #
December 2012
to September
2013
CESTAT,
Bangalore
Central
Excise Act,
1944
Excise duty and
penalty
56,400,395
October 2013 to
September 2014
**
* net of amounts paid under protest.
# a stay order has been received against the amount disputed and not deposited.
** The Company is in the process of filing an appeal before the CESTAT, Bangalore.
(c) According to the information and explanations given to us the amounts which were required
to be transferred to the investor education and protection fund in accordance with the relevant
provisions of the Companies Act, 1956 (1 of 1956) and rules there under has been transferred
to such fund within time.
(viii) The Company does not have any accumulated losses at the end of the financial year and has
not incurred cash losses in the financial year and in the immediately preceding financial year.
(ix) The Company did not have any outstanding dues to financial institutions, banks or debenture
holders during the year.
(x) In our opinion and according to the information and the explanations given to us, the
Company has not given any guarantee for loans taken by others from banks or financial
institutions.
(xi) The Company did not have any term loans outstanding during the year.
(xii) According to the information and explanations given to us, no material fraud on or by the
Company has been noticed or reported during the course of our audit.
for B S R & Co. LLP
Chartered Accountants
Firm’s registration number: 101248W/W-100022
Akhil Bansal
Partner
Membership number: 090906
Chennai
24 April 2015
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