120 Atul Ltd | Annual Report 2021-22 07. In the respect of statutory dues: a) The Company has been regular in depositing undisputed statutory dues of the year, including provident fund, employees’ state insurance, income tax, customs duty, cess, goods and service tax and other material statutory dues applicable to it to the appropriate authorities. There were no undisputed amounts payable in respect of provident fund, employees’ state insurance, income tax, customs duty, cess, goods and service tax and other material statutory dues in arrears as at March 31, 2022, for a period of more than six months from the date they became payable. b) Details of statutory dues referred to in Sub-clause (a) above which have not been deposited as on March 31, 2022, on account of disputes are given as follows: Name of statute Nature of dues Forum where dispute is pending Period to which the amount relates Amount unpaid (` cr) Amount paid under protest (` cr) Income Tax Act, 1961 Income tax Commissioner of Income Tax (Appeals) Assessment year 2011-12 and 2012-13 2.61 1.69 Income Tax Appellate Tribunal 2010-11 * 0.87 The Central Excise Act, 1944 and Chapter V of the Finance Act, 1994 Excise duty and Service tax Commissioner (Appeals) 1993-2016 0.53 # Customs, Excise and Service Tax Appellate Tribunal 1992-2018 1.64 0.14 High Court 1994-95 3.53 - Customs Act, 1962 Custom duty Commissioner (Appeals) 1994-2009 3.19 - High Court 2017-18 1.76 - * ` 16,620 | # ` 9,890. 08. There were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year. 09. a) The Company has not defaulted in the repayment of loans or borrowings or in the payment of interest thereon to any lender during the year. b) The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority. c) The Company has not taken any term loans during the year and there are no outstanding term loans at the beginning of the year and hence, reporting under clause (ix)(c) of the Order is not applicable. d) On an overall examination of the Standalone Financial Statements of the Company, funds raised on short-term basis have, not been used during the year for long-term purposes by the Company. e) On an overall examination of the Standalone Financial Statements of the Company, the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiary companies. f) The Company has not raised loans during the year on the pledge of securities held in its subsidiary or joint venture company. 10. a) The Company has not issued any of its securities (including debt instruments) during the year and hence reporting under clause (x) (a) of the Order is not applicable. b) During the year the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause (x)(b) of the Order is not applicable to the Company. 11. a) No fraud by the Company and no material fraud on the Company has been noticed or reported during the year.
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