Atul Ltd 2011-12

Atul Ltd | Annual Report 2011-12 Annexure to the Report of the Auditors complied with the provisions of Sections 58A 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 not, however, 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, 2012 which have not been deposited on account of disputes are as follows: Name of the statute Nature of dues Amount ( ` cr) (a) Period to which the amount relates Forum where the dispute is pending (b) Central Excise Act, 1944 Central excise 5.26 11.25 16.61 1977 to 2011 1993 to 2010 1993 to 2010 [Assistant Commissioner, Joint Commissioner, Commissioner (Appeals), Customs, Excise & Service Tax Appellate Tribunal, Gujarat High Court] Total : 33.12 Customs Act, 1962 Customs duty 5.37 12.65 1985-06 and 2006-07 to 2008-09 1995-96 and 2006-07 to 2008-09 [Assistant Commissioner, Commissioner (Appeals), Customs, Excise & Service Tax Appellate Tribunal] Total : 18.02 Income Tax Act, 1961 Income tax 12.13 5.57 2005-06 and 2006-07 2004-05 and 2007-08 [Commissioner of Income tax (Appeals), Income Tax Appellate Tribunal, Gujarat High Court] Total : 17.70 Gujarat Sales Tax Act, 1969 Sales tax 0.74 2005-06 Joint Commissioner Commercial Tax (Appeals) Total : 0.74 (a) Net of amounts deposited. (b) Necessary stay received from the respective authority.