Heritage Foods Limited | 32nd Annual Report 2023-24

164 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD Corporate Governance Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS published in the Newspapers and uploaded in the Company’s website and intimated to the Stock Exchanges. On quarterly basis, the investor presentation and transcript of the conference call was sent to all the members of the Company through e-mail and also uploaded in the Company’s website and intimated to Stock Exchanges, where shares of the Company are listed. Audit Qualification: The Company is in the regime of unqualified financial statements (Standalone & Consolidated). Reporting of Internal Auditors: The Internal Auditors make presentations to the Audit Committee on their reports on a regular basis. They are submitting the Internal Audit Report with observations, reviews, comments and recommendations through presentations which they have observed during their Audit along with follow up actions taken by the management. e) web link where policy for determining ‘material’ subsidiaries is disclosed: Regulation 16(1)(c) of the SEBI Listing Regulations The Audit Committee reviews the Standalone & Consolidated financial statements of the Company and the investments made in the unlisted subsidiary company. The minutes of the Board Meetings along with a report on significant developments of the unlisted subsidiary company are periodically placed before the Board of Directors of the Company. The Company does not have any material unlisted subsidiary company. The Company has a policy of determining ‘material’ subsidiaries which is hosted on the website at https:// www.heritagefoods.in/policy f) Web link where policy for dealing with related party transactions is disclosed: The URL of policy on dealing with related party transaction is https:// www.heritagefoods.in/policy g) Disclosure for commodity price risks and commodity hedging activities: The Company is subject to the Commodity price risk due to fluctuation price of Dairy products. During the year Company has exported its product worth of `15.65 mn. h) The Company has not made any preferential allotment or qualified institutions placement during the year under review. i) A certificate obtained from Mrs. Savita Jyoti, Partner of, M/s. Savita Jyoti Associates, Practicing Company Secretary (CP No:1796), Hyderabad - 500094, Telangana stating that none of the directors on the Board of the Company have been debarred or disqualified from being appointed or continuing as directors of companies by SEBI/Ministry of Corporate Affairs or any such statutory authority which forms part of the Annual Report [Annexure-3(ii) in the Board’s Report]. j) During the year there were no instances where Board had not accepted any recommendation of any Committee of the Board which is mandatorily required. k) Remuneration/Fees of Statutory Auditor: During the year under review your Company and its Subsidiary/Joint Venture Company paid the following remuneration/fees to the Statutory Auditor namely M/s. Walker Chandiok & Co. LLP, Chartered Accountants (FRN 001076N/500013). (` in Mn) Particulars Heritage Foods Limited Heritage Nutrivet Limited Heritage Novandie Foods Private Limited Statutory Audit fee 5.73 0.70 0.69 Limited review fee 2.53 - - Certification fee 0.57 - - Tax audit fee 1.01 0.39 - Taxation matters - - - Reimbursement of Expenses 0.27 0.05 - Total 10.11 1.14 0.69 Skil Raigam Power (India) Limited, the Associate Company of the Company has obtained the Dormant Status from Registrar of Companies vide SRN: T42936765 dated September 22, 2021. The Skil Raigam Power (India) Limited has filed the form MSC-3 after obtaining the signed financials for FY 2023-24 from the M/s. PHSK & Associates, Chartered Accountant in Practice (F No:014784S) with a certification fee of Rs.5,000/-.

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