129
(xiii) Based on our examination of the records and the information and explanations given to us, the Company has not granted any loans and advances
on the basis of security by way of pledge of shares, debentures and other securities.
(xiv) According to the information and explanations given to us, the Company has not given guarantees for loans taken by others from banks or
financial institutions.
(xv)
In our opinion and according to the information and explanations given to us, the term loans have been applied by the Company during the year
for the purposes for which they were obtained.
(xvi) In our opinion and according to the information and explanations given to us, and on an overall examination of the Balance Sheet of the Company,
we report that funds raised on short-term basis aggregating
`
11,521.20 crores have been used for long-term investments. Further the Company
has explained that steps are being taken to augment long term funds.
(xvii) During the year the Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained
under Section 301 of the Companies Act, 1956.
(xviii) During the period covered by our audit report, the Company has not issued any secured debentures.
(xix) According to the information and explanations given to us, during the year covered by our audit report, the Company has not raised any money
by public issue.
(xx)
To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on
the Company has been noticed or reported during the year.
For
DELOITTE HASKINS & SELLS LLP
Chartered Accountants
(Firm Registration No. 117366W/W-100018)
B. P. SHROFF
Partner
(Membership No. 34382)
MUMBAI, May 29, 2014
ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT
Independent Auditors’Report
Balance Sheet
(126-129)
Statement of Profit and Loss
Cash Flow Statement
Notes to Accounts
