Page 217 - Hitachi IR 2025

therefore the key audit matters. We describe these
matters in our auditor’s report unless law or regulation
precludes public disclosure about the matter or when, in
extremely rare circumstances, we determine that a matter
should not be communicated in our report because the
adverse consequences of doing so would reasonably
be expected to outweigh the public interest benefits of
such communication.
REPORT ON OTHER LEGAL AND REGULATORY
REQUIREMENTS
1. As required by the Companies (Auditor’s Report)
Order, 2020 (“the Order”), issued by the Central
Government of India in terms of sub-section (11) of
section 143 of the Act, we give in the “Annexure 1”
a statement on the matters specified in paragraphs
3 and 4 of the Order.
2. As required by Section 143(3) of the Act, we report
to the extent applicable, that:
(a) We have sought and obtained all the information
and explanations which to the best of our
knowledge and belief were necessary for the
purposes of our audit;
(b) In our opinion, proper books of account as
required by law have been kept by the Company
so far as it appears from our examination of
those books except that the backup of the
books of account and other books and papers
maintained in electronic mode has not been
maintained on server physically located in
India on daily basis as detailed in note 44 of
the financial statements and as detailed in note
45 of the financial statements for the matters
stated in the paragraph (f) and paragraph (i)
(vi)) below on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014,
as amended;
(c) The Balance Sheet, the Statement of Profit
and Loss including the Statement of Other
Comprehensive Income / (Loss), the Cash Flow
Statement and Statement of Changes in Equity
dealt with by this Report are in agreement with
the books of account;
(d) In our opinion, the aforesaid financial statements
comply with the Accounting Standards
specified under Section 133 of the Act, read
with Companies (Indian Accounting Standards)
Rules, 2015, as amended;
(e) On the basis of the written representations
received from the directors as on March 31,
2025 taken on record by the Board of Directors,
none of the directors is disqualified as on March
31, 2025 from being appointed as a director in
terms of Section 164 (2) of the Act;
(f) (g) (h) (i) The modification relating to the maintenance
of accounts and other matters connected
therewith are as stated in the paragraph (b)
above on reporting under Section 143(3)
(b) and paragraph (i(vi)) below on reporting
under Rule 11(g) of the Companies (Audit and
Auditors) Rules, 2014 as amended;
With respect to the adequacy of the internal
financial controls with reference to these
financial statements and the operating
effectiveness of such controls, refer to our
separate Report in “Annexure 2” to this report;
In our opinion, the managerial remuneration for
the year ended March 31, 2025 has been paid
/ provided by the Company to its directors in
accordance with the provisions of section 197
read with Schedule V to the Act.
With respect to the other matters to be included
in the Auditor’s Report in accordance with Rule
11 of the Companies (Audit and Auditors)
Rules, 2014, as amended in our opinion and
to the best of our information and according to
the explanations given to us:
i. The Company has disclosed the impact, if
any, of pending litigations on its financial
position in its financial statements –
Refer Note 35 to the accompanying
financial statements;
ii. The Company has made provision,
as required under the applicable law
or accounting standards, for material
foreseeable losses, if any, on long-
term contracts including derivative
contracts – Refer Notes 18 and 22 to the
accompanying financial statements;
iii. There has been no delay in transferring
amounts, required to be transferred, to the
Investor Education and Protection Fund by
the Company;
iv. a) The management has represented
that, to the best of its knowledge
and belief, as disclosed in the note
43 to the accompanying financial
statements, no funds have been
advanced or loaned or invested
(either from borrowed funds or share
premium or any other sources or kind
of funds) by the Company to or in any
other persons or entities, including
foreign entities (“Intermediaries”),
with the understanding, whether
recorded in writing or otherwise,
that the Intermediary shall, whether,
directly or indirectly lend or invest in
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