Page 123 - Kolte Patil AR 2019-20
P. 123

audited by the other auditors whose reports have been furnished to       In our  opinion and  to the best of our  information  and
            us by the Management, and our opinion in so far as it relates to the   according to the explanations given to us, the remuneration
            amounts included in respect of these partnership firms and LLPs, is   paid by the Company to its directors during the year is in
            based solely on the report of the other auditors.        accordance with the provisions of section 197 of the Act.
            Our opinion on the standalone financial statements and our report   h)  With respect to the other matters to be included in
            on Other Legal and Regulatory Requirements below is not modified   the Auditor’s Report in accordance with Rule 11 of the
            in respect of this matter.                               Companies (Audit and Auditors) Rules, 2014, as amended
                                                                     in our opinion and to the best of our information and
            REPORT ON OTHER LEGAL AND REGULATORY                     according to the explanations given to us:
            REQUIREMENTS                                              i.      The Company has disclosed the impact of pending
            1.  As required by Section 143(3) of the Act, based on our audit and   litigations  on  its  financial  position  in  its  standalone
               on the consideration of the reports of the other auditors on the   financial statements.
               separate financial statements of Partnership Firms and Limited
               Liability Partnerships, referred to in the Other Matter section       ii.      The Company did not have any long-term contracts
               above we report, to the extent applicable that:            including derivative contracts for which there were
                                                                          any material foreseeable losses.
               a)  We have sought  and obtained all  the information and
                 explanations which to the best of our knowledge and belief       iii.     Following are the instances of delay in transferring
                 were necessary for the purposes of our audit.            amounts, required to be transferred, to the Investor
                                                                          Education and Protection Fund by the Parent-
               b)  In our opinion, proper books of account as required by law
                 have been kept by the Company so far as it appears from      Amount of H5.09 Lakhs and 5.24 Lakhs were due on 14 October
                 our examination of those books.                  2019 and 18 December 2019 respectively. The Company has
                                                                  paid these amounts with the delay of 239 days and 177 days on
               c)  The Balance  Sheet, the  Statement of Profit and  Loss   09 June 2020 and 12 June 2020 respectively.
                 including  Other  Comprehensive  Income,  the  Cash  Flow
                 Statement and Statement of Changes in Equity dealt with   2.  As required by the Companies (Auditor’s Report) Order, 2016
                 by this Report are in agreement with the relevant books of   (“the Order”) issued by the Central Government in terms of
                 account.                                         Section 143(11) of the Act, we give in “Annexure B” a statement
                                                                  on the matters specified in paragraphs 3 and 4 of the Order.
               d)  In our opinion, the aforesaid standalone financial statements
                 comply with the Ind AS specified under Section 133 of the
                                                                                        For Deloitte Haskins & Sells LLP
               e)  On the basis of the written representations received from                   Chartered Accountants
                 the directors as on 31 March, 2020 taken on record by the      (Firm’s Registration No. 117366W/W-100018)
                 Board of Directors, none of the directors is disqualified as on
                 31 March, 2020 from being appointed as a director in terms
                 of Section 164(2) of the Act.

               f)  With respect to the adequacy of the internal financial                              Saira Nainar
                 controls over financial reporting of the Company and                                    (Partner)
                 the operating effectiveness of such controls, refer to our                  (Membership No. 040081)
                 separate Report in  “Annexure A”. Our report expresses                  (UDIN: 20040081AAAAAZ4755)
                 an unmodified opinion on the adequacy and operating   Place: Mumbai
                 effectiveness of the Company’s internal financial controls
                 over financial reporting.                     Date: 23 June 2020
               g)  With respect to the other matters to be included in the
                 Auditor’s Report in accordance with the requirements of
                 section 197(16) of the Act, as amended,

                                                                                          Annual Report 2019-20 | 121
   118   119   120   121   122   123   124   125   126   127   128