Consolidated STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 238 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD circumstances, nothing has come to our notice that has caused us to believe that the management representations under sub-clauses (a) and (b) above contain any material misstatement. v. The subsidiary company and joint venture have not declared or paid any dividend during the year ended 31 March 2024. As stated in note 33 to the accompanying consolidated financial statements, the final dividend paid by the Holding Company during the year ended 31 March 2024 in respect of such dividend declared for the previous year is in accordance with Section 123 of the Act to the extent it applies to payment of dividend. The Board of Directors of the Holding Company have proposed final dividend for the year ended 31 March 2024 which is subject to the approval of the members at the ensuing Annual General Meeting. The dividend declared is in accordance with Section 123 of the Act to the extent it applies to declaration of dividend. vi. As stated in Note 51 to the consolidated financial statements and based on our examination, which included test checks, except for instances mentioned below, the subsidiary and joint venture, which are companies incorporated in India and audited under the Act, the Holding Company, its subsidiary and joint venture, in respect of financial year commencing on 1 April 2023, have used accounting software for maintaining their books of account which has a feature of recording audit trail (edit log) facility and the same have been operated throughout the year for all relevant transactions recorded in the software. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with, other than the consequential impact of the exceptions given below. a. The audit trail feature was not enabled at the database level for the accounting software to log any direct data changes, used for maintenance of all accounting records by the Holding Company and its subsidiary. b. The joint venture has used an accounting software which is operated by a third party software service provider for maintaining its books of account. In absence of an ‘Independent Service Auditor’s Assurance Report on the Description of Controls, their Design and Operating Effectiveness’ (‘Type 2 report’ issued in accordance with SAE 3402, Assurance Reports on Controls at a Service Organisation), we are unable to comment on whether audit trail feature of the said software was enabled and operated throughout the year for all relevant transactions recorded in the software or whether there were any instances of audit trail feature being tampered with. For Walker Chandiok & Co LLP Chartered Accountants Firm’s Registration No.: 001076N/N500013 Sanjay Kumar Jain Partner Membership No.: 207660 UDIN: 24207660BKERHY1625 Place: Hyderabad Date: 29 May 2024 Annexure 1 List of entities included in the Consolidated Financial Statements Subsidiaries: 1. Heritage Nutrivet Limited 2. Heritage Employees Welfare Trust Associate: 3. SKIL Raigam Power (India) Limited Joint venture: 4. Heritage Novandie Foods Private Limited
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