100 / 236
98
xi)
According to information and explanations given to
us, the managerial remuneration paid and provided by
the company during the year is in accordance with the
requisite approvals mandated by the provisions of section
197 read with Schedule V of the Companies Act 2013.
xii) The provisions of clause (xii) of the Order are not applicable
as the company is not a Nidhi Company as specified in the
clause.
xiii) According to information and explanations given to us,
we are of the opinion that all related party transactions
are in compliance with section 177 and 188 of the
Companies Act, 2013. Necessary disclosures have been
made in the financial statements as required by the
applicable accounting standards.
xiv) According to information and explanations given to us
the company has not made any preferential allotment
or private placement of shares or debentures during the
year.
xv) According to information and explanations given to
us the Company has not entered into any non-cash
transaction with the director or any person connected
with him during the year.
xvi) In our opinion, in view of its business activities, the
company is not required to be registered under section
45IA of Reserve Bank of India Act 1934.
For
O. P. Bagla & Co.
Chartered Accountants
Firm Regn No. 000018N
(Atul Bagla)
Place : New Delhi
Partner
Dated : 15 May, 2017
Membership No. 91885
Annexure- II to the Independent Auditor’s Report
(Referred to in paragraph 2(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report
of even date)
We have audited the internal financial controls over financial
reporting of KAJARIA CERAMICS LIMITED (“the Company”) as of
31st March 2017 in conjunction 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.