Atul Ltd 2016-17

91 Name of the statute Nature of dues Amount ( ` in cr) (a) Period to which the amount relates Forum where the dispute is pending (b) Central Excise Act, 1944 Excise and service tax 0.94 1986 to 2016 Commissioner (Appeals) 4.07 1992 to 2011 Customs, Excise and Service Tax Appellate Tribunal 3.53 1994-95 High Court Total 8.54 Income Tax Act, 1961 Income tax 0.19 2009-11 Commissioner of Income Tax (Appeals) Total 0.19 (a) Net of amounts deposited. | (b) Necessary stay received from respective authorities. 08. According to the records of the Company examined by us and the information and explanations given to us, the Company has not defaulted in repayment of loans or borrowings to any financial institution or bank or Government or dues to debenture holders as at the Balance Sheet date. 09. The Company has not raised any monies by way of initial public offer, further public offer (including debt instruments) and term loans. Accordingly, the provisions of Clause 3(ix) of the Order are not applicable to the Company. 10. During the course of our examination of the books and records of the Company, carried out in accordance with the Generally Accepted Auditing Practices in India, and according to the information and explanations given to us, we have neither come across any instance of material fraud by the Company or on the Company by its officers or employees, noticed or reported during the year, nor have we been informed of any such case by the Management. 11. The Company has paid | provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act. 12. As the Company is not a Nidhi Company and the Nidhi Rules, 2014 are not applicable to it, the provisions of Clause 3(xii) of the Order are not applicable to the Company. 13. The Company has entered into transactions with Related Parties in compliance with the provisions of Sections 177 and 188 of the Act, where applicable. The details of such Related Party Transactions have been disclosed in the Ind AS Financial Statements as required under Indian Accounting Standard (Ind AS) 24, Related Party Disclosures specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. 14. The Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review. Accordingly, the provisions of Clause 3(xiv) of the Order are not applicable to the Company. 15. The Company has not entered into any non-cash transactions with its Directors or persons connected with him. Accordingly, the provisions of Clause 3(xv) of the Order are not applicable to the Company. 16. The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, the provisions of Clause 3(xvi) of the Order are not applicable to the Company. For Dalal & Shah Chartered Accountants LLP Firm Registration Number: 102020W | W-100040 S Venkatesh Mumbai Partner May 05, 2017 Membership Number: 037942