Annexure A referred to in Paragraph 16 of the IndependentAuditor’sReportofevendate to the members of Heritage Foods Limited on the standalone financial statements for the year ended 31 March 2023 In terms of the information and explanations sought by us and given by the Company and the books of account and records examined by us in the normal course of audit, and to the best of our knowledge and belief, we report that: (i) (a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of property, plant and equipment, right of use assets and investment property. (B) The Company has maintained proper records showing full particulars of intangible assets. (b) The property, plant and equipment, right of use assets, and investment property have been physically verified by the management during the year and no material discrepancies were noticed on such verification. In our opinion, the frequency of physical verification programme adopted by the Company, is reasonable having regard to the size of the Company and the nature of its assets. (c) The title deeds of all the immovable properties including investment properties held by the Company (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed in note 6 and 8 to the standalone fi nancial statements are held in the name of the Company. (d) The Company has not revalued its Property, Plant and Equipment including Right of Use assets or intangible assets during the year. (e) No proceedings have been initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended) and rules made thereunder. (ii) (a) The management has conducted physical verifi cation of inventory at reasonable intervals during the year, except for inventory lying with third parties. In our opinion, the coverage and procedure of such verifi cation by the management is appropriate and no discrepancies of 10% or more in the aggregate for each class of inventory were noticed as compared to book records. In respect of inventory lying with third parties, these have substantially been confi rmed by the third parties. (b) As disclosed in note 18(iii) to the standalone fi nancial statements, the Company has been sanctioned a working capital limit in excess of ` 5 crore by banks based on the security of current assets. The quarterly statements, in respect of the working capital limits have been fi led by the Company with such banks and such statements are in agreement with the books of account of the Company for the respective periods, which were not subject to audit. (iii) (a) The Company has not provided any security to any other entity. However, the Company has provided loans and guarantee to its Subsidiary, Joint Venture and others during the year as per details given below: Heritage Foods Limited | 31st Annual report 2022-23 182
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