the Act, have represented to us and to the other auditors of such subsidiaries, associate and joint venture respectively that, to the best of their knowledge and belief, other than as disclosed in the Note 30.18 to the Consolidated Financial Statements, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Parent or any of such subsidiaries, associate and joint venture to or in any other person or entity, including foreign entities (Intermediaries), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Parent or any of such subsidiaries, associate and joint venture (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. (b) The respective Managements of the Parent and its subsidiaries, associate and joint venture which are companies incorporated in India, whose Financial Statements have been audited under the Act, have represented to us and to the other auditors of such subsidiaries, associate and joint venture respectively that, to the best of their knowledge and belief, other than as disclosed in the Note 30.18 to the Consolidated Financial Statements, no funds have been received by the Parent or any of such subsidiaries, associate and joint venture from any person or entity, including foreign entities (Funding Parties), with the understanding, whether recorded in writing or otherwise, that the Parent or any of such subsidiaries, associate and joint venture shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. (c) Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances performed by us and that performed by the auditors of the subsidiaries, associate and joint venture which are companies incorporated in India whose Financial Statements have been audited under the Act, nothing has come to our or other auditor’s notice that has caused us or the other auditors to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement. v) (a) The final dividend proposed in the previous year, declared and paid by the Parent and its joint venture whose Financial Statements have been audited under the Act, during the year is in accordance with Section 123 of the Act, as applicable. (b) The interim dividend declared and paid by its subsidiary companies which are companies incorporated in India, whose Financial Statements have been audited under the Act, where applicable, during the year and until the date of this report is in accordance with Section 123 of the Companies Act 2013. (c) As stated in Note 30.14 to the Consolidated Financial Statements, the Board of Directors of the Parent and its subsidiary and its joint venture which are companies incorporated in India, whose Financial Statements have been audited under the Act, where applicable, have proposed final dividend for the year which is subject to the approval of the members of the Parent and such subsidiary and joint venture at the ensuing respective Annual General Meetings. Such dividend proposed is in accordance with Section 123 of the Act, as applicable. vi) Based on our examination which included test checks and based on the other auditor’s reports of its subsidiary companies and its joint venture company incorporated in India whose Financial Statements have been audited under the Act, the Parent, its subsidiary companies and its joint venture company incorporated in India have used accounting software systems for maintaining their respective books of account for the financial year ended March 31, 2025 which have the feature of recording audit trail (edit log) facility 230 230 Integrated Annual Report 2024-25
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