Atul Ltd 2018-19

08. Fixed deposits During 2018-19, the Company did not accept any ǛǊĚē ēĚƎūƙĿƥƙȦ 09. Loans, guarantees, investments and security Particulars of loans, guarantees, investments and security provided are given at page numbers 135 and 137. 10. Subsidiary, associate and joint venture companies During April 2019, Atul Ireland Ltd was incorporated as a wholly-owned subsidiary company in Ireland. There were no other changes in the subsidiary, associate and joint venture companies which were reported earlier. 11. Related party transactions All the transactions entered into with the related parties were in ordinary course of business and on arm’s length basis. Details of such transactions are given at page number 148. No transactions were entered into by the Company which required disclosure in Form AOC-2. 12. Corporate Social Responsibility Composition of the Corporate Social Responsibility (CSR) Committee, the CSR Policy and the CSR Report are given at page number 33. 13. Extract of the Annual Return This is given at page number 39. 14. Auditors Statutory Auditors Deloitte Haskins & Sells LLP, Chartered Accountants were appointed as the Statutory Auditors of the Company at the 40 th Annual General Meeting (AGM) held on July 28, 2017 until the conclusion of the 45 th AGM. The relevant Notes forming part of the accounts îƑĚ ƙĚŕljȹĚǊƎŕîŠîƥūƑǋ îŠē ijĿǄĚ ljƭŕŕ ĿŠljūƑŞîƥĿūŠ îŠē ĚǊƎŕîŠîƥĿūŠ ĿŠ ƑĚƙƎĚČƥ ūlj ƥĺĚ ūċƙĚƑǄîƥĿūŠƙ ŞîēĚ ċǋ the Auditors in their report. Cost Auditors The Company has maintained cost records as ƑĚƐƭĿƑĚē ƭŠēĚƑ ƥĺĚ ČƥȦ ¹ĺĚ ƙĺîƑĚĺūŕēĚƑƙ ƑîƥĿǛĚē the appointment of R Nanabhoy & Co as the Cost Auditors for 2018-19 on July 27, 2018. Secretarial Auditors The Board appointed SPANJ &Associates, Company Secretaries, as the Secretarial Auditors for 2018-19 on March 23, 2018, and their report is given at page number 52. 15. Directors’ responsibility statement Pursuant to Section 134(5) of the Companies Act, ǨǦǧǩȡ ƥĺĚ 'ĿƑĚČƥūƑƙ ČūŠǛƑŞ ƥĺîƥȡ ƥū ƥĺĚ ċĚƙƥ ūlj ƥĺĚĿƑ knowledge and belief: 15.1 The applicable accounting standards were followed îŕūŠij ǅĿƥĺ ƎƑūƎĚƑ ĚǊƎŕîŠîƥĿūŠƙ ƑĚŕîƥĿŠij ƥū ŞîƥĚƑĿîŕ departures in the preparation of the annual accounts. 15.2 The accounting policies were selected and applied consistently and judgements and estimates were made that were reasonable and prudent so as to give a true and fair view of the state of affairs of the ūŞƎîŠǋ îƥ ƥĺĚ ĚŠē ūlj ƥĺĚ ǛŠîŠČĿîŕ ǋĚîƑ îŠē ūlj ƥĺĚ ƎƑūǛƥ îŠē ŕūƙƙ ūlj ƥĺĚ ūŞƎîŠǋ ljūƑ ƥĺîƥ ƎĚƑĿūēȦ ǧǫȦǩ ¡ƑūƎĚƑ îŠē ƙƭljǛČĿĚŠƥ ČîƑĚ ǅîƙ ƥîŒĚŠ ljūƑ ƥĺĚ maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 15.4 The attached annual accounts for the year ended March 31, 2019 were prepared on a going concern basis. ǧǫȦǫ ēĚƐƭîƥĚ ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ƥū ċĚ ljūŕŕūǅĚē by the Company were laid down and they were adequate and operating effectively. 15.6 Proper systems were devised to ensure compliance with the provisions of all applicable laws and the same were adequate and operating effectively. 16. Directors 16.1 Appointments | Reappointments | Cessations 16.1.1 According to Article 86 of the Articles of Association of the Company, Mr T R Gopi Kannan retires by rotation and being eligible, offers himself for reappointment at the forthcoming AGM scheduled on July 31, 2019. 16.1.2 Subject to the approval of the Members in the AGM: i) Mr T R Gopi Kannan was reappointed as a Whole-time Director effective October 17, ǨǦǧǯ ljūƑ î ƎĚƑĿūē ūlj ǛǄĚ ǋĚîƑƙȦ 25 Directors’ Report