Gillette_India_Limited_AR_20

Annual Report 2019-20 71 Company Overview Board's Report MD&A Corporate Governance Financial Statements Gillette India Limited f) With respect to the adequacy of the internal financial controls with reference to financial statements of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexure B . g) According to information and explanations given to us and based on our examination of the records of the Company, the Company has paid managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 of the Act. 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, 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 Ind-AS financial statements – Refer Note. 35 to the Ind- AS financial statements. ii) The Company did not have any long- term contracts including derivative contracts for which there were any material foreseeable losses. iii) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. For KALYANIWALLA & MISTRY LLP Chartered Accountants Firm Regn. No.: 104607W / W100166 Daraius Z. Fraser Partner M. No. 42454 UDIN: 20042454AAAADB5396 Mumbai: August 26, 2020. Annexure A to the Independent Auditor’s Report (Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ in our Independent Auditor’s Report to the Members of the Company on the Ind-AS financial statements for the year ended June 30, 2020) (i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b) As explained to us, the Company has a program for physical verification of fixed assets at periodic intervals. In our opinion, the period of verification is reasonable having regard to the size of the Company and the nature of its assets. The discrepancies reported on such verification are not material and have been properly dealt with in the books of account. We were not in a position to physically attend the fixed assets verification scheduled for the year-end due to restrictions on account of health, travel and safety concerns following the nationwide lockdown imposed by the Government of India in view of the COVID-19 pandemic. Consequently, in the absence of physical attendance at the fixed assets verification, we have conducted alternative procedures and relied on other internal controls for drawing comfort on the existence of fixed assets as reported in the financial statements as at the year-end. c) According to the information and explanations given to us, the title deeds, comprising all the immovable properties of buildings, other than self-constructed buildings, are held in the name of the Company. In respect of immovable properties of land that have been taken on lease and disclosed as non-current / current assets in the financial statements, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement.