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 financial information. During the year, such controls were tested and no reportable material weakness in the design or operation was observed by the consultant namely, CA JSS Sivarama Prasad, Chartered Accountant (M No. 208735), and Kapasi Bangad & Co., Chartered Accountant , (M. No. 202717) Hyderabad appointed by the Board of Directors of the company. During the year no fraud by the Company or with the Company by its officers or employees has been noticed / reported. Declaration as per Section 134(3)(ca) of the Companies Act, 2013 During the year, the auditors have not reported any instances of frauds committed by or against the Company by its Directors/Officers/ 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 Certification The Vice Chairperson & Managing Director, Chief Executive Officer and Chief Financial Officer of the Company have given annual certification on financial 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, Chief Executive Officer and Chief Financial Officer also give quarterly certification on financial results while placing the financial results before the Board in terms of Regulation 33(2) (a) of the SEBI (Listing Obligation & Disclosure Requirements) Regulation, 2015. The annual certificates given by the ViceChairperson & Managing Director, Chief Executive Officer and Chief Financial Officer forms part of this Annual Report. Corporate Social Responsibility (CSR) Your Company has made Corporate Social 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 of reporting and monitoring has been put in place to ensure effective implementation of planned CSR initiatives. The CSR activities / projects as per the provisions of the Companies Act , 2013 and rules made thereof, is undertaken directly by the Company or through a registered trust or a registered society. During the Financial Year 2022-23 the CSR Committee of the Board evaluated various options to implement the CSR activities and decided to contribute the mandated CSR amount to the following implementing Agency: S. no Name of the implementing Agency List of Activities 1. NTR Memorial Trust, NTR Bhavan, Road No. 2, Banjara Hills, Hyderabad -500034, Telangana. To carry out the activities such as promoting education, enhancing the vocational skill & supply of clean drinking water, disaster management, relief and rehabilitation etc. NTR Memorial Trust NTRMemorial Trust is operating since 1997 towards the promoting and preventive of health care of the needy groups, meeting the educational needs of underprivileged students, advancing the concept of entrepreneurship and self-employment and off ering support and relief during disasters and lot more other initiatives for the upliftment of the backward and needy population in the society. The total CSR obligation of the Company for spending in FY 2022-23 was ` 30.36 million on ongoing/multiyear projects. The details of the CSR initiatives undertaken by the Company on CSR activities during the year are set out in Annexure-4 forming part of the Board’s Report in the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014. These projects are in accordance with Schedule VII of the Companies Act, 2013 and the Company’s CSR Policy. The Policy is available at the Company’s website at www.heritagefoods.in. Business Responsibility and Sustainability Report (BRSR) Pursuant to regulation 34(2)(f ) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, top 1000 listed entities based on their market capitalisation as on 31st March every year, are required to submit their Business Responsibility and Sustainability Report (BRSR) as a part of their Annual Report. The Annual Report shall contain a Business Responsibility and Sustainability Report (BRSR) describing the initiatives taken by the Company from an environmental, social and governance perspective. BRSR has been designed as a tool to help companies understand the principles and core elements of responsible business practices and start implementing which refl ect their adoption in the manner the company undertakes its business. Based on the market capitalization of BSE as on March 31, 2023 your Company was in sl no. 876 under top 1000 listed Company. In compliance with the regulation, the BRSR is provided in a separate section and forms an integral part of this Report. Energy Conservation, Technology Absorption & Foreign Exchange Earnings & Outgo The particulars as prescribed under Sub-section (3)(m) of Section 134 of the Companies Act 2013, read with the Companies (Accounts) Rules, 2014 are provided in the Annexure-6 to the Board Report. 83 Board’s Report | Statutory Reports
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