You are here » Home » Companies » Company Overview » Wipro Ltd

Wipro Ltd.

BSE: 507685 Sector: IT
NSE: WIPRO ISIN Code: INE075A01022
BSE 00:00 | 27 Oct 671.25 3.05
(0.46%)
OPEN

671.40

HIGH

674.50

LOW

663.35

NSE 00:00 | 27 Oct 671.10 2.95
(0.44%)
OPEN

668.15

HIGH

674.55

LOW

663.45

OPEN 671.40
PREVIOUS CLOSE 668.20
VOLUME 375604
52-Week high 739.80
52-Week low 331.15
P/E 37.48
Mkt Cap.(Rs cr) 367,902
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 671.40
CLOSE 668.20
VOLUME 375604
52-Week high 739.80
52-Week low 331.15
P/E 37.48
Mkt Cap.(Rs cr) 367,902
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Wipro Ltd. (WIPRO) - Auditors Report

Company auditors report

To The Members of Wipro Limited

Report on the Audit of the Standalone Financial Statements Opinion

We have audited the accompanying standalone financial statements ofWipro Limited ("the Company") which comprise the Balance Sheet as at March 312021 the Statement of Profit and Loss (including Other Comprehensive Income) theStatement of Changes in Equity and the Statement of Cash Flows for the year then endedand a summary of significant accounting policies and other explanatory information (hereinafter referred to as "the Standalone Financial Statements").

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid Standalone Financial Statements give theinformation required by the Companies Act 2013 ("the Act") in the manner sorequired and give a true and fair view in conformity with the Indian Accounting Standardsprescribed under Section 133 of the Act read with the Companies (Indian AccountingStandards) Rules 2015 as amended ("Ind AS") and other accounting principlesgenerally accepted in India of the state of affairs of the Company as at March 31 2021and its profit total comprehensive income changes in equity and its cash flows for theyear ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Financial Statements inaccordance with the Standards on Auditing specified under Section 143(10) of the Act(SAs). Our responsibilities under those Standards are further described in theAuditor's Responsibility for the Audit of the Standalone Financial Statements sectionof our report. We are independent of the Company in accordance with the Code of Ethicsissued by the Institute of Chartered Accountants of India (ICAI) together with the ethicalrequirements that are relevant to our audit of the Standalone Financial Statements underthe provisions of the Act and the Rules made thereunder and we have fulfilled our otherethical responsibilities in accordance with these requirements and the ICAI's Code ofEthics. We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the Standalone Financial Statements.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the Standalone Financial Statements of thecurrent period. These matters were addressed in the context of our audit of the StandaloneFinancial Statements as a whole and in forming our opinion thereon and we do not providea

separate opinion on these matters. We have determined the mattersdescribed below to be the key audit matters to be communicated in our report.

Fixed price contracts using the percentage of completion method - ReferNotes 2 (iii)(a) 3(xiii)B and 22 to the financial statements.

Key Audit Matter Description

Revenue from fixed-price contracts including software development andintegration contracts where the performance obligations are satisfied over time isrecognized using the percentage-of-completion method.

Use of the percentage-of-completion method requires the Company todetermine the project costs incurred to date as a percentage of total estimated projectcosts required to complete the project. The estimation of total project costs involvessignificant judgement and is assessed throughout the period of the contract to reflect anychanges based on the latest available information. In addition provisions for estimatedlosses if any on uncompleted contracts are recorded in the period in which such lossesbecome probable based on the estimated project costs.

We identified the revenue recognition for fixed price contracts wherethe percentage-of-completion method is used as a key audit matter because of thesignificant judgment involved in estimating the efforts to complete such contracts.

This estimate has a high inherent uncertainty and requiresconsideration of progress of the contract efforts incurred to-date and estimates ofefforts required to complete the remaining contract performance obligations over the livesof the contracts.

This required a high degree of auditor judgment in evaluating the auditevidence supporting the application of the input method used to recognize revenue and ahigher extent of audit effort to evaluate the reasonableness of the total estimated amountof revenue recognized on fixed-price contracts.

How the Key Audit Matter was addressed in the Audit

Our audit procedures related to estimates of efforts to complete forfixed-price contracts accounted using the percentage-of-completion method included thefollowing among others:

• We tested the effectiveness of controls relating to (1)recording of efforts incurred and estimation of efforts required to complete the remainingcontract performance obligations and (2) access and application controls pertaining totime recording and allocation systems which prevents unauthorised changes to recording ofefforts incurred.

• We evaluated management's ability to reasonably estimatethe progress towards satisfying the performance obligation by comparing actual informationto estimates for performance obligations that have been fulfilled.

• We selected a sample of fixed price contracts with customersaccounted using percentage-of-completion method and performed the following:

• Read the contract and based on the terms and conditionsevaluated whether recognizing revenue over time was appropriate and the contract wasincluded in management's calculation of revenue over time.

• Evaluated other information that supported the estimates of theprogress towards satisfying the performance obligation.

• Evaluated the appropriateness of and consistency in theapplication of management's policies and methodologies to estimate progress towardssatisfying the performance obligation.

• Compared efforts incurred with Company's estimate ofefforts incurred to date to identify significant variations and evaluate whether thosevariations have been considered appropriately in estimating the remaining efforts tocomplete the contract.

• Tested the estimate for consistency with the status of deliveryof milestones and customer acceptances to identify possible delays in achievingmilestones which require changes in estimated efforts to complete the remainingperformance obligations.

Allowance for credit losses Refer Notes 2(iii)(g) 3(ix)(A) and 9 tothe financial statements

Key Audit Matter Description

The Company determines the allowance for credit losses based onhistorical loss experience adjusted to reflect current and estimated future economicconditions. The Company considered current and anticipated future economic conditions onthe basis of the credit reports and other related credit information for its customers toestimate the probability of default in future and has taken into account estimates ofpossible effect from the pandemic relating to COVID-19.

We identified allowance for credit losses as a key audit matter becauseof the significant judgement involved in calculating the expected credit losses. Thisrequired a high degree of auditor judgment and an increased extent of effort whenperforming audit procedures to evaluate the reasonableness of management's estimateof the expected credit losses.

How the Key Audit Matter was addressed in the Audit

Our audit procedures related to the allowance for credit

losses for trade receivables unbilled receivables and

contract assets included the following among others:

• We tested the effectiveness of controls over the (1) developmentof the methodology for the allowance for credit losses including consideration of thecurrent and estimated future economic conditions (2) completeness and accuracy ofinformation used in the estimation of probability of default and (3) computation of theallowance for credit losses.

• For a sample of customers we tested the input data such ascredit reports and other credit related information used in estimating the probability ofdefault by comparing them to external and internal sources of information.

• We evaluated the incorporation of the applicable assumptionsinto the estimate of expected credit losses and tested the mathematical accuracy andcomputation of the allowances by using the same input data used by the Company.

• We evaluated the qualitative adjustment to the historical lossrates including assessing the basis for the adjustments and the reasonableness of thesignificant assumptions.

Information other than the Financial Statements and

Auditor's Report thereon

• The Company's Board of Directors is responsible for theother information. The other information comprises the information included in theBoard's Report and Corporate Governance Report but does not include the ConsolidatedFinancial Statements Standalone Financial Statements and our auditor's reportthereon.

• Our opinion on the Standalone Financial Statements does notcover the other information and we do not express any form of assurance conclusionthereon.

• In connection with our audit of the Standalone FinancialStatements our responsibility is to read the other information and in doing so considerwhether the other information is materially inconsistent with the Standalone FinancialStatements or our knowledge obtained during the course of our audit or otherwise appearsto be materially misstated.

• If based on the work we have performed we conclude that thereis a material misstatement of this other information we are required to report that fact.We have nothing to report in this regard.

Management's Responsibility for the Standalone FinancialStatements

The Company's Board of Directors is responsible for the mattersstated in section 134(5) of the Act with respect to the preparation of these StandaloneFinancial Statements that give a true and fair view of the financial position financialperformance including other comprehensive income changes in equity and cash flows of theCompany in accordance with the Ind AS and other accounting principles generally acceptedin India. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the StandaloneFinancial Statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the Standalone Financial Statements management isresponsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibility for the Audit of the Standalone FinancialStatements

Our objectives are to obtain reasonable assurance about whether theStandalone Financial Statements as a whole are free from material misstatement whetherdue 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 auditconducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material ifindividually or in the aggregate they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these Standalone Financial Statements.

As part of an audit in accordance with SAs we exercise professionaljudgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of theStandalone Financial Statements whether due

to fraud or error design and perform audit procedures responsive tothose risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

• Obtain an understanding of internal financial control relevantto the audit in order to design audit procedures that are appropriate in thecircumstances. Under section 143(3)(i) of the Act we are also responsible for expressingour opinion on whether the Company has adequate internal financial controls system inplace and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by the management.

• Conclude on the appropriateness of management's use of thegoing concern basis of accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or conditions that may cast significantdoubt on the Company's ability to continue as a going concern. If we conclude that amaterial uncertainty exists we are required to draw attention in our auditor'sreport to the related disclosures in the Standalone Financial Statements or if suchdisclosures are inadequate to modify our opinion. Our conclusions are based on the auditevidence obtained up to the date of our auditor's report. However future events orconditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation structure and content of theStandalone Financial Statements including the disclosures and whether the StandaloneFinancial Statements represent the underlying transactions and events in a manner thatachieves fair presentation.

Materiality is the magnitude of misstatements in the StandaloneFinancial Statements that individually or in aggregate makes it probable that theeconomic decisions of a reasonably knowledgeable user of the Standalone FinancialStatements may be influenced. We consider quantitative materiality and qualitative factorsin (i) planning the scope of our audit work and in evaluating the results of our work; and(ii) to evaluate the effect of any identified misstatements in the Standalone FinancialStatements.

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the StandaloneFinancial Statements of the current period and are therefore the key audit matters. Wedescribe these matters in our auditor's report unless law or regulation precludespublic disclosure about the matter or when in extremely rare circumstances we determinethat a matter should not be communicated in our report because the adverse consequences ofdoing so would reasonably be expected to outweigh the public interest benefits of suchcommunication.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act based on our

audit we report that:

a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

b) In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss (including OtherComprehensive Income) the Statement of Changes in Equity and the Statement of Cash Flowsdealt with by this Report are in agreement with the relevant books of account.

d) In our opinion the aforesaid Standalone Financial Statements complywith the Ind AS specified under Section 133 of the Act.

e) On the basis of the written representations received from thedirectors as on March 31 2021 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2021 from being appointed as a director in termsof Section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate Report in "Annexure A".

Our report expresses an unmodified opinion on the adequacy andoperating effectiveness of the Company's internal financial controls over financialreporting.

g) With respect to the other matters to be included in theAuditor's Report in accordance with the requirements of section 197(16) of the Actas amended in our opinion and to the best of our information and according to theexplanations given to us the remuneration paid by the Company to its directors during theyear is in accordance with the provisions of section 197 of the Act.

h) With respect to the other matters to be included in theAuditor'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 accordingto the explanations given to us:

i. The Company has disclosed the impact of pending litigations on itsfinancial position in its Standalone Financial Statements;

ii. The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses if any on long-termcontracts including derivative contracts;

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

2. As required by the Companies (Auditor's Report) Order 2016("the Order") issued by the Central Government in terms of Section 143(11) ofthe Act we give in "Annexure B" a statement on the matters specified inparagraphs 3 and 4 of the Order.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

Firm Registration Number: 1 17366W/W-100018

Vikas Bagaria

Partner

Membership number: 60408

Bengaluru

June 92021

Annexure "A" to the Independent Auditor's Report

(Referred to in paragraph (f) under ‘Report on Other Legal andRegulatory Requirements' section of our report to the Members of Wipro Limited ofeven date)

Report on the Internal Financial Controls Over Financial Reportingunder Clause (i) of Sub-section 3 of Section 143 of the Companies Act 2013 ("theAct")

We have audited the internal financial controls over financialreporting of Wipro Limited ("the Company") as of March 31 2021 in conjunctionwith our audit of the Standalone Financial Statements of the Company for the year ended onthat date.

Management's Responsibility for Internal Financial Controls

The Board of Directors of the Company are responsible for establishingand maintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls OverFinancial Reporting issued by the Institute of Chartered Accountants of India ("theICAI"). These responsibilities include the design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of its business including adherence to company'spolicies the safeguarding of its assets the prevention and detection of frauds anderrors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Act.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting of the Company based on our audit. Weconducted our audit in accordance with the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting (the "Guidance Note") issued by the ICAI andthe Standards on Auditing prescribed under Section 143(10) of the Companies Act 2013 tothe extent applicable to an audit of internal financial controls. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness. Our audit of internal financial controls over financial reportingincluded obtaining an understanding of

internal financial controls over financial reporting assessing therisk that a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgement including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internalfinancial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting isa process designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor 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 theexplanations given to us the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2021 based on thecriteria for internal control over financial reporting established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the ICAI.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

Firm Registration Number: 1 17366W/W-100018

Vikas Bagaria

Partner

Membership number: 60408

Bengaluru June 92021

Annexure "B" to the Independent Auditor's Report

(Referred to in paragraph 2 under ‘Report on Other Legal andRegulatory Requirements' section of our report to the Members of Wipro Limited ofeven date)

(i) In respect of the Company's fixed assets:

(a) The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) The Company has a program of verification to cover all the items offixed assets in a phased manner over a period of 3 years which in our opinion isreasonable having regard to the size of the Company and the nature of its assets. Pursuantto the program certain fixed assets were physically verified by the management during theyear. According to the information and explanations given to us no material discrepancieswere noticed on such verification.

(c) According to the information and explanations given to us therecords examined by us and based on the examination of the conveyance deeds/registeredsale deeds provided to us we report that the title deeds comprising all the immovableproperties of land and buildings which are freehold are held in the name of the Companyas at the balance sheet date except for a freehold land with a carrying amount of Rs.404million for which the title deed has not been executed in the name of the Company pendingfulfilment of certain conditions.

(ii) As explained to us the inventories were physically verifiedduring the year by the management at reasonable intervals. There were no materialdiscrepancies noticed on physical verification during the year.

(iii) According to the information and explanations given to us theCompany has granted unsecured loans to one body corporate covered in the registermaintained under section 189 of the Companies Act 2013 in respect of which:

(a) The terms and conditions of the grant of such loans are in ouropinion prima facie not prejudicial to the Company's interest.

(b) The schedule of repayment of principal and payment of interest hasbeen stipulated and repayments or receipts of principal amounts and interest have beenregular as per stipulations.

(c) There is no overdue amount remaining outstanding as at theyear-end.

(iv) In our opinion and according to the information and explanationsgiven to us the Company has complied with the provisions of Sections 185 and 186 of theAct in respect of grant of loans making investments and providing guarantees andsecurities as applicable. There were no loans granted during the year under Section 185of the Act.

(v) According to the information and explanations given to us theCompany has not accepted any deposit during the year and does not have any unclaimeddeposits as at March 312021 and therefore the provisions of the clause 3 (v) of theOrder are not applicable to the Company.

(vi) Maintenance of cost records has not been specified by the CentralGovernment under section 148(1) of the Act for the business activities carried out by theCompany. Thus reporting under Clause 3(vi) of the Order is not applicable to the Company.

(vii) According to the information and explanations given to us inrespect of statutory dues:

(a) The Company has generally been regular in depositing undisputedstatutory dues including Provident Fund Employees' State Insurance Income TaxSales Tax Service Tax Goods and Services Tax Value Added Tax Customs Duty ExciseDuty Cess and other material statutory dues applicable to it with the appropriateauthorities.

(b) There were no undisputed amounts payable in respect of ProvidentFund Employees' State

Insurance Income Tax Sales Tax Service Tax Value Added Tax Goodsand Services Tax Customs Duty Excise Duty Cess and other material statutory dues inarrears as at March 31 2021 for a period of more than six months from the date theybecame payable.

(c) Details of dues of Income Tax Sales Tax Service Tax CustomsDuty Excise Duty Value Added Tax and Goods and Services Tax which have not beendeposited as at March 31 2021 on account of dispute are given below:

Name of Statute Nature of dues Forum where dispute is pending Period to which the amount relates Amount Involved Amount not deposited as at March 31 2021
The Central Excise Act 1944 Excise Duty Assistant Commissioner 1990-91 to 2014-15 57 52
The Central Excise Act 1944 Excise Duty Commissioner 2004-05 to 2014-15 10 10
The Central Excise Act 1944 Excise Duty Commissioner (Appeals) 1994-95 to 2012-13 13 13
The Central Excise Act 1944 Excise Duty CESTAT 1990-2000 to 2012-13 37 25
The Central Excise Act 1944 Excise Duty High Court 2007-08 2008-09 1 1
The Customs Act 1962 Customs Duty Assistant Commissioner of Customs 1994-95 to 2010-11 49 45
The Customs Act 1962 Customs Duty CESTAT 1991-92 to 2011-12 11 4
The Customs Act 1962 Customs Duty Commissioner 2005-06 94 90
The Customs Act 1962 Customs Duty Commissioner (Appeals) 1997-98 to 2009-10 343 308
The Customs Act 1962 Customs Duty Deputy Commissioner - Air Customs - Chennai 2009-10 5 5
The Customs Act 1962 Customs Duty Madras High Court 2009-10 4 4
The Customs Act 1962 Customs Duty-Penalty Karnataka High Court 2001-02 to 2005-06 2711 2631
Finance Act 1994 Service Tax Assistant Commissioner 2003-04 to 2015-16 370 369
Finance Act 1994 Service Tax Commissioner 2013-14 to 2017-18 613 613
Finance Act 1994 Service Tax Commissioner (Appeals) 2005-06 to 2009-10 376 30
Finance Act 1994 Service Tax CESTAT 2002-03 to 2011-12 2807 2393
Finance Act 1994 Service Tax-Penalty Commissioner (Appeals) 2005-06 to 2009-10 29 29
Finance Act 1994 Service Tax-Penalty Assistant Commissioner 2008-09 2009-10 1 1
Finance Act 1994 Service Tax- Penalty CESTAT 2002-03 to 2011-12 642 642
Sales Tax / VAT Sales Tax / VAT Assistant Commissioner/ Deputy Commissioner 1986-87 to 2017-18 4548 4381
Sales Tax / VAT Sales Tax / VAT Commissioner (Appeals) 1988-89 to 2017-18 1705 1523
Sales Tax / VAT Sales Tax / VAT Appellate Authorities 1986-87 to 2016-17 1439 1334
Sales Tax / VAT Sales Tax / VAT High Court 2002-03 to 2012-13 30 26
Sales Tax/ VAT Sales Tax/ VAT Supreme Court 2001-02 12 12
Goods and Services Tax Goods and Services Tax Commissioner (Appeals) 2017-18 58 58
The Income Tax Act 1961 Income Tax - TDS CIT(A) - TDS 2003-04 2011-12 35 35
The Income Tax Act 1961 Income Tax - TDS Income Tax Appellate Tribunal 2009-10 13 3
The Income Tax Act 1961 Income Tax - TDS High Court 2010-11 61 61
The Income Tax Act 1961 Income Tax Assessing Officer 2007-08 97 42
The Income Tax Act 1961 Income Tax Commissioner of Income tax (Appeals) 2012-13 16 16
The Income Tax Act 1961 Income Tax Income Tax Appellate Tribunal 2006-07 2007-08 2009-10 2010-11 2014-15 2027 1212
The Income Tax Act 1961 Income Tax High Court 2012-13 2013-14 4380 317

(viii) In our opinion and according to the information and explanationsgiven to us the Company has not defaulted in the repayment of loans or borrowings tofinancial institutions and banks. The Company has not availed any loans or borrowingsfrom Government. The Company has not issued any debentures.

(ix) The Company has not raised moneys by way of initial public offeror further public offer (including debt instruments) or term loans during the year hencereporting under Clause 3(ix) of the Order is not applicable to the company.

(x) To the best of our knowledge and according to the information andexplanations given to us no fraud by the Company or no material fraud on the Company byits officers or employees has been noticed or reported during the year.

(xi) In our opinion and according to the information and explanationsgiven to us the Company has paid/ provided managerial remuneration in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theAct.

(xii) The Company is not a Nidhi Company and hence reporting underclause 3 (xii) of the Order is not applicable to the Company.

(xiii) In our opinion and according to the information and explanationsgiven to us the Company is in compliance with Section 177 and 188 of the Act whereapplicable for all transactions with the related parties and the details of related partytransactions

have been disclosed in the Standalone Financial Statements as requiredby the applicable accounting standards.

(xiv) During the year the Company has not made any preferentialallotment or private placement of shares or fully or partly paid convertible debenturesand hence reporting under clause 3 (xiv) of the Order is not applicable to the Company.

(xv) In our opinion and according to the information and explanationsgiven to us during the year the Company has not entered into any non-cash transactionswith its Directors or persons connected to its directors and hence provisions of section192 of the Act are not applicable to the Company.

(xvi) The Company is not required to be registered under Section 45-1Aof the Reserve Bank of India Act 1934.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

Firm Registration Number: 1 17366W/W-100018

Vikas Bagaria

Partner

Membership Number: 60408

Bengaluru

June 92021

.