Page 180 - Kolte Patil AR 2019-20

given to us: Amount of ` 5.09 Lakhs and 5.24 Lakhs were due on 14 October
2019 and 18 December 2019 respectively. The Company has paid
i) The consolidated financial statements disclose the impact these amounts with the delay of 239 days and 177 days on 09 June
of pending litigations on the consolidated financial 2020 and 12 June 2020 respectively.
position of the Group and of its joint venture. Refer note
36 to the Consolidated Ind AS financial statements.
For Deloitte Haskins & Sells LLP
ii) the Group did not have any material foreseeable losses on Chartered Accountants
long-term contracts including derivative contracts. (Firm’s Registration No. 117366W/W-100018)
iii) Following are the instances of delay in transferring Saira Nainar
amounts, required to be transferred, to the Investor (Partner)
Education and Protection Fund by the Parent- Place: Mumbai (Membership No. 040081)
Date: 23 June 2020 (UDIN: 20040081AAAABA2698)

Annexure “A” To The Independent Auditor’s Report

(Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 of the Companies
Act, 2013 (“the Act”)

In conjunction with our audit of the consolidated Ind AS financial companies, which are companies incorporated in India, based
statements of the Company as of and for the year ended 31 March, on our audit. We conducted our audit in accordance with the
2020, we have audited the internal financial controls over financial Guidance Note on Audit of Internal Financial Controls Over Financial
reporting of Kolte-Patil Developers Limited (hereinafter referred Reporting (the “Guidance Note”) issued by the Institute of Chartered
to as “Parent”) and its subsidiary companies, which are companies Accountants of India and the Standards on Auditing, prescribed
incorporated in India, as of that date. under Section 143(10) of the Companies Act, 2013, to the extent
applicable to an audit of internal financial controls. Those Standards
MANAGEMENT’S RESPONSIBILITY FOR INTERNAL and the Guidance Note require that we comply with ethical
FINANCIAL CONTROLS requirements and plan and perform the audit to obtain reasonable
The respective Board of Directors of the Parent and its subsidiary assurance about whether adequate internal financial controls over
companies, which are companies incorporated in India, are financial reporting was established and maintained and if such
responsible for establishing and maintaining internal financial controls operated effectively in all material respects.
controls based on the internal control over financial reporting Our audit involves performing procedures to obtain audit evidence
criteria established by the respective Companies considering the about the adequacy of the internal financial controls system over
essential components of internal control stated in the Guidance financial reporting and their operating effectiveness. Our audit
Note on Audit of Internal Financial Controls Over Financial of internal financial controls over financial reporting included
Reporting issued by the Institute of Chartered Accountants of India obtaining an understanding of internal financial controls over
(ICAI). These responsibilities include the design, implementation financial reporting, assessing the risk that a material weakness exists,
and maintenance of adequate internal financial controls that were and testing and evaluating the design and operating effectiveness of
operating effectively for ensuring the orderly and efficient conduct internal control based on the assessed risk. The procedures selected
of its business, including adherence to the respective company’s depend on the auditor’s judgement, including the assessment
policies, the safeguarding of its assets, the prevention and detection of the risks of material misstatement of the financial statements,
of frauds and errors, the accuracy and completeness of the whether due to fraud or error.
accounting records, and the timely preparation of reliable financial
We believe that the audit evidence we have obtained and the
information, as required under the Companies Act, 2013.
audit evidence obtained by the other auditors of the subsidiary
AUDITOR’S RESPONSIBILITY companies, which are companies incorporated in India, in terms of
Our responsibility is to express an opinion on the internal financial their reports referred to in the Other Matters paragraph below, is
controls over financial reporting of the Parent and its subsidiary sufficient and appropriate to provide a basis for our audit opinion on

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