Heritage Foods Limited

Heritage Foods Limited 72 Companies (Accounts) Rules, 2014. List of Internal Auditors is provided in the corporate information section in the Annual Report. Internal Audit & Control Systems Your Company has a well-de fi ned and documented internal audit & control system, which is adequately monitored. Checks & balances and control systems have been established to ensure that assets are safe guarded, utilized with proper authorizationand recorded in thebooks of account. The Internal control systems are improved and modi fi ed continuously to meet the changes in business conditions, statutory and accounting requirements. These are supplemented by internal audit of your Company carried out by reputed fi rms of Chartered Accountants across the locations of the Company. Your Company has an Audit Committee consisting of Three Non-Executive Independent Directors andoneNon-ExecutiveDirector. TheAuditCommittee of theBoard of Directors and Statutory Auditors are periodically apprised of the internal audit fi ndings and corrective actions taken. The Audit Committee of the Board of Directors reviews the adequacy and e ff ectiveness of internal control system and suggests improvements if any for strengthening them. Your Company has a robust Management Information System which is an integral part of the control mechanism. Listing and Custodian Fees The equity shares of your Company are listed at BSE Limited, Mumbai and National Stock Exchange of India Limited, Mumbai. The applicable annual listing fees were paid before the due date. The annual custodian fees have also been paid to the depositories before the due date. Signi fi cant Material Orders Passed by the Regulators There were no signi fi cant material orders passed by any Regulators/Courts that would impact the going concern status of the Company and its future operations. Annual Return The Annual Return as on March 31, 2021as required under Section 92(3) and Section 134(3)(a) of the Companies Act, 2013, is available on the Company’s website (https:// www.heritagefoods.in/annualreturn) Internal fi nancial control and its adequacy The Board has inter alia reviewed the adequacy and e ff ectiveness of the Company’s internal fi nancial controls relating to its fi nancial statements. The Board has discussed with theManagement of the Company the major fi nancial risk exposures and the steps taken by it to monitor and control such exposures, overseen and reviewed the functioning of the Whistle Blower Mechanism and the fi ndings in respect of the investigations conducted on frauds if any, which were material in nature and the actions taken by the Management, in this regard. Your Company has adopted necessary policies and procedures for ensuring the orderly and e ffi cient 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 fi nancial information. During the year, such controls were tested and no reportable material weakness in the design or operation was observed by the consultant appointed by the Board of Directors of the company During the year no fraud by the Company or on the Company by its o ffi cers or employees has been notices and reported. Declaration as per Section 134(3)(ca) of the Companies Act, 2013 During the year, the statutory auditors and secretarial auditor have not reported any instances of frauds committed by or against the Company by its Directors/O ffi cers/ Employees to the Audit Committee or Board under section 143(12) of the Companies Act, 2013 and rules made thereof. Therefore no detail is required to be disclosed under Section 134 (3)(ca) of the Act. CEO & CFO Certi fi cation The Vice Chairperson & Managing Director and the Chief Financial O ffi cer of the Company has given annual certi fi cation on fi nancial reporting and internal controls to the Board in terms of Regulation 17(8) of the SEBI (Listing Obligation & Disclosure Requirements) Regulation, 2015. Vice Chairperson & Managing Director and the Chief Financial O ffi cer also give quarterly certi fi cation on fi nancial results while placing the fi nancial results before the Board in terms of Regulation 33(2) (a) of the SEBI (Listing Obligation & Disclosure Requirements) Regulation, 2015. The annual certi fi cate given by the Vice-Chairperson & Managing Director and the Chief Financial O ffi cer forms part of this Annual Report. Corporate Social Responsibility (CSR) Your Company has been an early adopter of corporate social responsibility (CSR) initiatives. Your Company has made CorporateSocial Responsibility (CSR) an integral part of its ethos and culture Your company has constituted a Corporate Social Responsibility Committee (“CSR Committee”) in accordance with Section 135 of the Companies Act, 2013. A robust system