Atul Ltd 2009-10

60 / Atul Ltd | Annual Report 2009-10 and 58AA or any other relevant provisions of the Act and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. According to the information and explanations given to us, no order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal on the Company in respect of the aforesaid deposits. vii. In our opinion, the Company has an internal audit system commensurate with its size and nature of its business. viii. We have broadly reviewed the books of account maintained by the Company in respect of products where, pursuant to the Rules made by the Central Government of India, the maintenance of cost records has been prescribed under clause (d) of sub- section (1) of Section 209 of the Act, and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. We have, however, not made a detailed examination of the records with a view to determine whether they are accurate or complete. ix. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is regular in depositing the undisputed statutory dues including provident fund, investor education and protection fund, employees’ state insurance, income-tax, sales-tax, wealth tax, service tax, customs duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities. (b) According to the information and explanations given to us and the records of the Company examined by us, the particulars of dues of income-tax, sales-tax, customs duty, excise duty and cess as at March 31, 2010 which have not been deposited on account of a dispute are as follows: Name of the statute Nature of dues Amount (Rs crores) (a) Period to which the amount relates Forum where the dispute is pending (b) The Central Excise Act, 1944 Central excise 6.46 0.51 5.19 0.01 5.09 1995-96 to 2006-07 1995-96 to 2006-07 1986-98 to 2003-04 1991-94 1992-93 to 2009-10 {Joint Commissioner, Commissioner (Appeals), Customs, Excise and Service Tax Appellate Tribunal, Gujarat High Court, Assistant Commissioner} Total 17.26 The Customs Act, 1962 Customs duty 0.59 1.76 13.65 1994 to 1998 1993 to 1998 1996-97 to 2007-08 {Commissioner (Appeals), Customs, Excise and Service Tax Appellate Tribunal, Assistant Commissioner} Total 16.00 The Income Tax Act, 1961 Income tax 2.36 1.84 2003-04 2004-05 {Gujarat High Court, Commissioner of Income tax (Appeals) } Total 4.20 Gujarat Sales Tax Act, 1969 Sales tax 1.02 2004-05 Joint Commissioner of Commer- cial Tax (Appeals) Total 1.02 (a) Net of amounts deposited. (b) Necessary stay received from respective authorities. Annexure to the Report of the Auditors 61