123 d) The Company has not revalued any of its property, plant and equipment (including right-of-use assets) and intangible assets during the year. e) No proceedings have been initiated during the year or are pending against the Company as at March 31, 2023, for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and Rules made thereunder. 02. a) The inventories were physically verified during the year by the Management at reasonable intervals, except goods-in-transit and stocks lying with third parties. In our opinion, the coverage and procedure of such verification by the Management is appropriate having regard to the size of the Company and the nature of its operations. In respect of inventory lying with third parties at the year end, written confirmations have been obtained by the Management and in respect of goods-in-transit, the goods have been received subsequent to the year end. No discrepancies of 10% or more in the aggregate for each class of inventories were noticed on such physical verification of inventories, when compared with the books of account. b) TheCompanyhasbeensanctionedworkingcapital limits in excess of ` 5 cr, in aggregate, at points of time during the year during the year, from banks or financial institutions on the basis of security of current assets. In our opinion and according to the information and explanations given to us, the quarterly returns or statements comprising (stock statements, book debt statements and other stipulated financial information) filed by the Company with such banks or financial institutions are in agreement with the unaudited books of account of the Company of the respective quarters. The Company is yet to submit the return | statement for the quarter ended March 31, 2023, with the banks or financial institutions. 03. The Company has made investments in, granted loans, secured or unsecured, to companies, limited liability partnership or any other parties during the year, in respect of which: a) The Company has provided loans or advances in the nature of loans during the year and details of which are given below: Particular Amount (` cr) A. Aggregate amount granted | provided during the year: - Subsidiary companies 533.05 - Joint operation 5.52 - Others - B. B alance outstanding as at Balance Sheet date in respect of the above cases: - Subsidiary companies 819.00 - Joint operation 53.98 The Company has not provided any guarantee or security to any other entity during the year. b) The investments made and the terms and conditions of the grant of all the above mentioned loans during the year are, in our opinion, not prejudicial to the interests of the Company. c) In respect of loans granted by the Company, the schedule of repayment of principal and payment of interest has been stipulated and the repayments of principal amounts and receipts of interest are regular as per stipulation. d) In respect of loans granted by the Company, there is no overdue amount remaining outstanding as at the Balance Sheet date. e) No loans granted by the Company, which has fallen due during the year, has been renewed or extended or fresh loans granted to settle the overdues of existing loans given to the same parties. f) The Company has not granted any loans either repayable on demand or without specifying any terms or period of repayment during the year. Hence, reporting under Clause (iii)(f) is not applicable. 04. In our opinion, the Company has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of loans granted and, as applicable. 05. The Company has not accepted or is not holding any deposit or amounts, which are deemed to be deposits during the year. In respect of unclaimed deposits, the Company has complied with the provisions of Sections 73 to 76 or any other relevant provisions of
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