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Mission-Critical Decisions, Made with Confidence.
prepared by the management of the Holding Company
and audited by us.
Our opinion above on the consolidated financial
statements, and our report on other legal and
regulatory requirements below, are not modified
in respect of the above matters with respect to our
reliance on the work done by and the reports of the
other auditors and branch auditors.
16. We did not audit the financial information of one
(1) subsidiary, whose financial information reflect
total assets of ` 239 lakhs as at 31 December 2024,
total revenues of ` 711 lakhs and net cash inflows
amounting to ` 35 lakhs for the year ended on that
date, as considered in the consolidated financial
statements. This financial information is unaudited
and have been furnished to us by the management and
our opinion on the consolidated financial statements,
in so far as it relates to the amounts and disclosures
included in respect of the aforesaid subsidiary, is
based solely on such unaudited financial statements.
In our opinion and according to the information and
explanations given to us by the management, this
financial information is not material to the Group.
18. Our opinion above on the consolidated financial
statements, and our report on other legal and regulatory
requirements below, are not modified in respect of
the above matter with respect to our reliance on the
financial information certified by the management.
Report on Other Legal and Regulatory
Requirements
17. As required by section 197(16) of the Act based on our
audit and on the consideration of the reports of the
other auditors, referred to in paragraph 15, on separate
financial statements of the subsidiaries, we report
that the Holding Company and two (2) subsidiaries
incorporated in India whose financial statements have
been audited under the Act have paid remuneration to
their respective directors during the year in accordance
with the provisions of and limits laid down under
section 197 read with Schedule V to the Act. Further,
we report that one (1) subsidiary incorporated in India
whose financial statements have been audited under
the Act have not paid or provided for any managerial
remuneration during the year. Accordingly, reporting
under section 197(16) of the Act is not applicable in
respect of such subsidiary.
As required by clause (xxi) of paragraph 3 of Companies (Auditor’s Report) Order, 2020 (‘the Order’) issued by the Central
Government of India in terms of section 143(11) of the Act based on the consideration of the Order reports issued by us
and by the respective other auditors as mentioned in paragraph 15 above, of companies included in the consolidated
financial statements for the year ended 31 December 2024 and covered under the Act we report.
Following are the adverse remarks reported by us in the Order reports of the companies included in the consolidated
financial statements for the year ended 31 December 2024 for which such Order reports have been issued till date:
S.
No.
Name CIN Holding Company / Subsidiary /
Associate / Joint Venture
Clause number of the CARO report
which is qualified or adverse
1 Crisil Limited L67120MH1987PLC042363 Holding Company (i)(c)
19. a) b) As required by section 143(3) of the Act, based on
our audit and on the consideration of the reports of
the other auditors on separate financial statements
and other financial information of the subsidiaries,
incorporated in India whose financial statements have
been audited under the Act, we report, to the extent
applicable, that:
We have sought and obtained all the information and
explanations which to the best of our knowledge and
belief were necessary for the purpose of our audit of
the aforesaid consolidated financial statements;
In our opinion, proper books of account as required
by law relating to preparation of the aforesaid
consolidated financial statements have been kept so
far as it appears from our examination of those books
and the reports of the other auditors;
c) d) e) f) The reports on the accounts of the branch offices of the
Holding Company audited under section 143(8) of the
Act by branch auditors have been sent to us and have
been properly dealt with in preparing this report;
The consolidated financial statements dealt with by
this report are in agreement with the relevant books
of account maintained for the purpose of preparation
of the consolidated financial statements;
In our opinion, the aforesaid consolidated financial
statements comply with Ind AS specified under
section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015;
On the basis of the written representations received
from the directors of the Holding Company, and its
subsidiaries and taken on record by the Board of
161
Annual Report 2024
Financial Statements