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एनएलसी इंडिया

बीएसई: 513683  |  NSE: NLCINDIA  |  ISIN: INE589A01014  |  Power - Generation & Distribution

खोजें एनएलसी इंडिया कनेक्शन Mar 18
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '19

Report on the Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of NLC INDIA LIMITED (Formerly Neyveli Lignite Corporation Limited) (“the Company”), which comprise the Balance Sheet as at 31st March, 2019, the Statement of Profit and Loss (including other Comprehensive income), the Cash Flow Statement and the Statement of Changes in Equity for the year then ended and a summary of the significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs (financial position) of the Company as at 31st March, 2019, and its profit, total comprehensive income, changes in equity and its Statement of cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and informing our opinion thereon, and we do not provide a separate opinion on these matters.

The following have been considered as Key Audit Matters of Holding Company - NLC India Limited

Sl. No.

Key Audit Matters

Auditor’s Response

1.

Revenue recognition on sale of power to entities (DISCOMS) and the disclosure requirements vis-a-vis the requirements for complying with IND AS-114-Regulatory Deferral Accounts & IND AS-115 -Revenue from Contracts with Customers.

The Central Electricity Regulatory Commission (CERC)/ State Electricity Regulatory Commission (SERC) determine the tariff rates to be charged by the company for the sale of thermal and renewable power respectively. Tariff rates for sale of thermal power are determined by CERC for a block of 5 years and the rates prescribed for the block period 2014-2019 have been considered by the Company for recognising the revenue under operating income - sale of power. The tariff for thermal power includes lignite transfer price which is determined in accordance with the guidelines issued by the Ministry of Coal (MoC).

In addition to the recognition of revenue as stated above, the Company recognises certain items of income / expenditure in accordance with Mandatory Accounting Standard - IND AS 114 - Regulatory Deferral Accounts. Accordingly, the Company has recognised Rs. 859.41 crore as Net Movement in Regulatory Deferral Account balances in the Statement of Profit and Loss with a corresponding impact under Regulatory Deferral Assets/Liabilities. Refer Note Nos.1 (XV) & 1 (XXVI) and Note No.29 of the standalone Financial statements.

We have analysed the accounting principles consistently followed by the Company for recognition of the revenue arising on sale of power, commencing from financial year 2016-17 where in the Company has opted for complying with IND AS 114 (Regulatory Deferral Accounts). It is observed by us that the accounting policy followed by the company for revenue recognition is in accordance with the principles laid down by IND AS 114 dealing with recognition of revenue by companies whose tariff rates are governed by the orders of a rate regulator which in this case is Central Electricity Regulatory Commission / State Electricity Regulatory Commission. It is observed that the consideration of various items under “Net movement in regulatory deferral account balances” and the treatment in the audited accounts are in compliance with the accounting principles laid down in INDAS 114.

2.

Accounting of Surcharge

Due from entities (DISCOMS) for any delay in the settlement of claims due to the Company results in levy of surcharge in accordance with the terms and conditions of the agreement entered into for the sale of power. For the financial year 2018-19 the Company has recognised a sum of Rs.. 478.37 crore as surcharge under other income - Refer Note No.23 - on Financial statements.

Accounting of surcharge was examined by us to ensure that all the material amounts of surcharge accounted by the Company as income were in accordance with the terms and conditions of the contracts entered into by the Company with DISCOMS.

3.

Disputed Tax demands - Direct and Indirect taxes and measurement and the related disclosure in accordance with IND AS - 37 Provisions, Contingent Liabilities and Contingent Assets.

There are several items of disputes pending in various appellate forums in respect of determination and quantification of liability towards direct and indirect taxes by the departments. Liabilities in respect of disputed demands are considered only as contingent

Details of the tax liabilities contested in the appeals were obtained and analyzed by us to ensure that the amount of Rs. 368.78 crore disclosed under contingent liability had not become ascertained liability as on 31-03-2019.

- Orders of the Appellate authorities for the adjudication of similar items in the earlier accounting years in favor of the Company were perused to evaluate the similarity of the facts and also to

liabilities pending the outcome of the decision of the appellate authorities. The total amount of disputed liabilities on account of Direct and Indirect taxes as disclosed in Note No.53 is Rs. 368.78 core.

ensure the disclosure of the disputed demands under contingent liability was in accordance with the requirements of IND AS-37, Provisions, Contingent Liabilities and Contingent Assets

- The contention of the management as to the contingent nature of liabilities was also analysed in the light of expert legal opinion obtained by the Company.

4.

Amounts disclosed under contingencies and commitments -from others - Note No.53.

A sum of Rs.. 11,434.18 crore has been considered by the Company under the above head.

This sum represents claims of third parties including the compensation for land acquisition and contractors. The Company has not accepted the said claims which are contested in legal proceedings and are pending for disposal by the appellate authorities.

We have verified the list of claims made by third parties. Status of the appeals filed and pending for disposal as on 31st March 2019 was analysed. It was observed that there was no change in the status as compared to 31st March 2018.

5.

Amount of Rs.. 349.13 crore included under Capital Work in Progress (project Put on Hold), Bithnokand BTPSE Project.

We have obtained the details of project activities of Bithnok and BTPSE project from the management.

We have noted that the company has incurred capital expenditure of Rs.. 349.13 crore and Rs. 168.17 crore in Bithnok and BTPSE project respectively which includes land of Rs.. 176.92 crore and capital advance of Rs. 261.72 crore. On the basis of clarification received from management, current year expenses also have been capitalised in the project cost.

We have obtained the information from records and found that Rajasthan government has accorded in-principle approval for revival of the project with certain conditions.

We have obtained the management reply that the discussions with Rajasthan Government and M/s. Reliance Infrastructure Limited by NLCIL’s top level management for revival of the project are under progress.

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Company’s financial reporting process.

Auditors’ Responsibility

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism through out the audit. We also:

- Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

- Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements 29, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Emphasis of Matter

We draw attention to the Note No.29 -Net movement in regulatory deferral account balances Income/expenses -to the Standalone financial statements:

a. As explained in the said note, a sum of Rs.. 131.29 crore along with period cost has been de-recognised under regulatory deferral liabilities during the current financial year on account of redetermination of the estimated liabilities arising out of orders of CERC in respect of sharing of incentives and revenue on sale of lignite to outsiders respectively and inclusion of the said amount under Regulatory deferral income

b. Our opinion is not modified in respect of the said matter.

Other Matter

We did not audit the financial statements of One (1) Branch included in the Standalone Financial Statements of the Company which reflected a total asset of Rs.. 1,628.51 crore as at March 31,2019 and a total revenue of Rs. 188.81 crore for the year ended on that date. The financial statements of this Branch have been audited by the Branch auditor whose report has been furnished to us and our opinion, in so far as it relates to the amounts and disclosures included in respect of this Branch, is based solely on the report of such Branch Auditor.

Our opinion is not modified in respect of this matter.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in Annexure-I a statement on the matters specified in paragraphs 3 and 4 of the said Order, to the extent applicable.

2. As required by Section143(3)of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books

(c) The reports on accounts of the Branch Office of the Company audited under Sec 143(8) of the Act by the Branch Auditor have been sent to us and have been properly dealt with by us in preparing this report.

(d) The Balance Sheet, the Statement of Profit and Loss, Cash Flow Statement and the Statement of Changes in Equity dealt with by this Report are in agreement with the books of accounts.

(e) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015 as amended.

(f) As per Notification No: G.S.R 463(E) dated 05.06.2015, subsection (2) of Sec 164 of the Companies Act, 2013 is not applicable to Government Companies.

(g) With respect to adequacy of the internal financial control over financial reporting of the company and the operating effectiveness of such controls, we give our report in Annexure-II. Our report expresses an unmodified opinion on the operating effectiveness of the Company’s internal financial controls over financial reporting.

(h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements-Refer to Note 51 to financial statements.

ii. The Company has long term contracts for coal mining, power sale, project execution etc. However as at March 31, 2019 there were no material foreseeable losses on those contracts. The company did not have any derivative contracts as at March 31,2019

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

3. As required by Sec 143(5) of the Companies Act, 2013, our comments in regard to the directions and sub-directions issued by the Comptroller and Auditor General of India is given in Annexure-III.

Annexure-I to Independent Auditors’ Report

Statement of matters specified in Para 3 & 4 of the order referred to in sub-section (11) of section 143

The Annexure referred to in our report to the members of NLC INDIA LTD, (the Company’) for the year Ended on 31.03.2019:

1. Fixed Assets

a. The Company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets.

b. The Company is having a regular programme of physical verification of all fixed assets (Property, Plant and Equipment) over a period of 2 years, which in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification.

2. Inventory

The inventory has been physically verified at reasonable intervals by the management. No material discrepancies were noticed during such verification.

3. Transactions of loans with parties covered by register referred to in section 189

The Company has granted unsecured loan to a subsidiary Company and to a director of the Company covered by the register maintained under section 189 of the Companies Act, 2013:

a. In our opinion, the terms and conditions of grant of the loans are not prejudicial to the interest of the Company.

b. According to the information and explanations given to us, the schedule of repayment of principal and payment of interest has been stipulated while granting such loans and the repayment/receipts are regular.

c. No amounts are overdue for more than 90 days.

4. Compliance with section 185 & 186 in respect of Loans and Investments

The Company has not advanced loans, given guarantees or security or made any investment in contravention of section 185 and/or section 186 of the Companies Act, 2013.

5. Public Deposits

In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from public and hence the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules made there under are not applicable to the Company.

6. Maintenance of Cost Records

The Central Government has prescribed the maintenance of cost records U/s. 148(1) of the Companies Act, 2013 in respect of Electricity Industry and Lignite. We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of cost records under section 148of the Act, and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained.

7. Statutory dues

a. The Company has generally been regular in depositing Provident Fund dues of its own employees. Based on the information and explanations given to us the Company has laid down system and procedures regarding deposit of PF and ESI dues relating to contractors’ workers. The Company has generally been regular in depositing Income-tax, Sales Tax, Service Tax, duty of customs, duty of excise, value added tax, cess, GST and any other statutory dues to the appropriate authorities.

Based on information and explanation given to us, no undisputed amounts payable in respect of Income Tax, Sales Tax, Service Tax, Customs Duty, Excise Duty, Value Added Tax, Cess, gSt and any other statutory dues were outstanding as at 31st March 2019 for a period of more than six months from the date they became payable.

b. According to the information and explanations given to us, there are no dues of Income Tax, Sales Tax, Customs duty, Wealth Tax, Excise Duty, Value Added Tax, Cess and GST which have not been deposited on account of any dispute except as reported below:

Name of the Statute

Nature of Dues

Demand Amount (Rs. in lakh)

Amount Deposited under Protest (Rs.in lakh)

Period to which the amount relates

Forum where dispute is pending

Customs Act, 1962

Customs Duty

2685.00

983.00

-

CESTAT

7481.82

-

AY 2013-14

ITAT

Income Tax Act

Income Tax

6814.83

-

AY 2014-15

ITAT

3089.11

617.82

AY 2011-12

CIT(A)

12936.47

2587.29

AY 2015-16

CIT(A)

651.47

130.29

AY 2016-17

CIT (A)

89.56

6.72

Apr 2009 to Jun 2012

CESTAT

51.34

7.00

Jul 2012 to Mar 2014

CEC(A)

Finance Act, 1994

Service Tax

852.59

63.94

Jul 2012 to Mar 2015

CESTAT

366.59

27.49

Jul 2012 to Mar 2014

CESTAT

25.54

2.55

Apr 2014 to Mar 2015

CESTAT

9.24

0.92

Apr 2014 to Mar 2015

CEC(A)

121.37

12.14

Apr 2014 to Mar 2015

CEC(A)

205.62

-

Jun 2008 to Mar 2012

CESTAT

72.83

5.46

Apr 2015 to June 2017

CEC(A)

1417.27

106.30

Apr 2015 to June 2017

CEC(A)

8.05

0.60

Apr 2015 to June 2017

CEC(A)

8. Repayment of Loans

The Company has not defaulted in repayment of loans or borrowing to a financial institution, bank, government or dues to debenture holders during the relevant financial year.

9. Raising of monies through Public Offer and/or Term Loans

According to the information and explanations given to us, the monies raised by way of term loans were applied for the purposes for which those were raised.

10. Frauds

According to the information and explanations given to us, no fraud by the Company or any fraud on the Company by its officers or employees has been noticed or reported during the year.

11. Managerial Remuneration

As per Notification No. GSR 463(E) dated 5th June 2015 issued by the Ministry of Corporate Affairs, Government of India, Section 197 of the Act is not applicable to the Government Companies. Accordingly, provisions of clause 3 (xi) of the Order are not applicable to the Company.

12. Compliance with Net Owned Funds Ratio & unencumbered term deposits

The Company is not a Nidhi Company and hence the provisions para 3(xii) of the order referred to in Companies (Auditor’s Report) Order, 2016 issued by the Central Government of India in terms of subsection (11) of Section 143 of the Act do not apply to the Company.

13. Transaction with Related Parties

In our opinion all transactions with the related parties are in compliance with the provision of section 177 and 188 of Companies Act, 2013 wherever applicable and the details have been disclosed in the Financial Statements etc., as required by the applicable accounting standards.

14. Preferential Allotment or Private Placement

The Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review.

15. Non-cash transactions

The Company has not entered into any non-cash transactions with directors or persons connected with him as referred to in section 192 of the Companies Act, 2013.

16. Registration with Reserve Bank of India

The Company is not carrying any activities which require registration under section 45-IAof the Reserve Bank of India Act, 1934.

The following to be considered as a part of the above auditor’s report.

Para 1: Fixed Assets (Annexure I to Independent Auditor’s Report)

(c) The Company is in possession of title deeds/assignment deeds/GOs in respect of immovable properties. However due to enormous volume of documents held by the company for acquisition of land, all the title deeds could not be fully verified by us. As per expert legal opinion, the ownership of the land acquired between the incorporation of the company to the year 1977 and between the years 1997 to 2001 is subject to conditions attached by Govt. of Tamil Nadu to the respective assignment deeds.

Sl. No.

Details

As in Audit Report

To be changed to

1

Auditors Responsibility (Bullet Point No. 5)

The Numeric Rs.29’ inadvertently appears

The numeric Rs.29’ to be deleted

2

Report on Other Legal and Regulatory Requirements

In point no. h (i) ‘Refer to Note 51’

To be read as Refer to Note no. 53

We have audited the internal financial controls over financial reporting of NLC INDIA LIMITED (formerly Neyveli Lignite Corporation Limited) (“the Company”) as of March 31, 2019 in connection with our audit of the standalone financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to Company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting based on our audit. We have conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness.

Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A Company’s internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A Company’s internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorisations of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2019, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

Other Matter

We did not audit the Internal Financial Control over Financial Reporting of ONE (1) branch included in the standalone financial statements of the Company. The adequacy of internal financial controls system over financial reporting and the operating effectiveness of such internal financial controls over financial reporting conducted by the branch auditor whose report has been furnished to us, and our opinion in so far as it relates to the amounts and disclosures included in respect of this branch, is based solely on the report of such branch auditor. Our opinion is not modified in respect of this matter.

FOR M/s. CHANDRAN & RAMAN FOR M/s. PKKG BALASUBRAMANIAM & ASSOCIATES

Chartered Accountants Chartered Accountants

Firm Regn. No.000571S Firm Regn. No.001547S

S. PATTABIRAMAN C. RAMESH

Partner Partner

M No.014309 M No.025985

Place : Neyveli

Date :30th May 2019

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `566.52 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `183.41 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `800 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `818 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `140.36 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `42.76 Cr की बिकवाली की
  • MARKET CUES : स्टॉक ऑप्शंस में `79.20 Cr की बिकवाली की
  • MS ON TCS : Equal-weight रेटिंग, लक्ष्य `1,980/Sh
  • MS ON TITAN : Equal-weight रेटिंग, लक्ष्य `1240/Sh
  • MS ON ICICI BANK : Overweight रेटिंग, लक्ष्य `665/Sh

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