The Management assessed the effectiveness of the internal financial controls over financial reporting as at March 31, 2025 and the Board believes that the controls are adequate. 08. Fixed deposits The Company did not accept any deposits from public and as such no amount on account of principal or interest on deposits from public was outstanding as at March 31, 2025. 09. Loans, guarantees, investments and security Particulars of loans, guarantees, investments and security provided are given on page numbers 179 and 181. During 2024-25, the Company has received all stipulated amounts of principal and interest as per schedule in respect of loans granted, except that, in respect of the secured loan given to Anaven LLP, the amount of ` 9.15 cr (aggregate of ` 13.73 cr) as principal and an amount of ` 3.06 cr (aggregate of ` 4.24 cr) as interest are overdue as at March 31, 2025. The principal amount is secured, and hence the Company has not made any provision. As a matter of abundant precaution, the Company has made provision for the interest of ` 2.80 cr (aggregate of ` 4.24 cr) in the books as at March 31, 2025, though the Company is expecting to recover the same. During 2024-25, the Company has extended repayment period by 12 months of unsecured loan of ` 1.74 cr given to Anaven LLP. The Company is evaluating various options to mitigate the unprecedented adverse business conditions which Anaven LLP is facing. 10. Subsidiary, joint venture and associate companies | entities and joint operation During 2024-25, there were no changes in the number of subsidiary, joint venture and associate companies | entities and joint operation. Details of subsidiary, joint venture and associate companies | entities and joint operation are given on page number 56. 11. Related party transactions All the transactions entered into with the related parties were in the ordinary course of business and on an arm’s length basis. Details of such transactions are given on page number 193. No transactions were entered into by the Company that required disclosure in Form AOC-2. 12. Corporate social responsibility The Corporate Social Responsibility (CSR) Policy, the CSR report and the composition of the CSR Committee are given on page number 58. 13. Annual return Annual return is available on the website of the Company at: www.atul.co.in/investors/annual-general-meetings/ 14. Auditors Statutory Auditors Deloitte Haskins & Sells LLP, Chartered Accountants were reappointed as the Statutory Auditors of the Company at the 45th Annual General Meeting (AGM) held on July 29, 2022, until the conclusion of the 50th AGM. The Auditor’s Report for the financial year ended on March 31, 2025, does not contain any qualification, reservation or adverse remark. The report is enclosed with the Financial Statements in this annual report. Cost Auditors The Company has maintained cost records as required under the Act and the Companies (Cost Records and Audit) Rules, 2014. The members ratified the appointment of R Nanabhoy & Co as the Cost Auditors for 2024-25, on July 26, 2024. Secretarial Auditors SPANJ & Associates, Company Secretaries, continue to be the Secretarial Auditors for 2024-25 and their report is given on page number 61. A s per Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Regulations), Secretarial Auditors can be appointed for a term of five consecutive years with the approval of the members. Accordingly, based on the recommendation of the Audit Committee, the Board at its meeting held on April 25, 2025, recommended the appointment of SPANJ & Associates, Company Secretaries as the Secretarial Auditors of the Company for a term of five consecutive financial years from 2025-26 to 2029-30 for the approval of the members at the ensuing AGM. SPANJ & Associates have given their consent to act as the Secretarial Auditors and confirmed their eligibility for appointment. 15. Directors’ responsibility statement a) In preparation of the annual accounts for the financial year that ended on March 31, 2025, the applicable accounting standards have been followed and there are no material departures. b) The accounting policies were selected and applied consistently and judgements and estimates thus made were reasonable and prudent to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period. 50 Integrated Annual Report 2024-25 50
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