Page 218 - Hitachi IR 2025

INDEPENDENT AUDITOR’s REPORT
v. vi. other persons or entities identified
in any manner whatsoever by or on
behalf of the Company (“Ultimate
Beneficiaries”) or provide any
guarantee, security or the like on
behalf of the Ultimate Beneficiaries;
b) 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 received by the
Company from any persons or entities,
including foreign entities (“Funding
Parties”), with the understanding,
whether recorded in writing or
otherwise, that the Company shall,
whether, directly or indirectly, lend
or invest in other persons or entities
identified in any manner whatsoever
by or on behalf of the Funding
Party (“Ultimate Beneficiaries”) or
provide any guarantee, security or
the like on behalf of the Ultimate
Beneficiaries; and
c) Based on the audit procedures
performed that have been considered
reasonable and appropriate in the
circumstances, nothing has come
to our notice that has caused us to
believe that the representations under
sub-clause (a) and (b) of Rule 11(e)
contain any material misstatement.
The final dividend paid by the Company
during the year in respect of the same
declared for the previous year is in
accordance with section 123 of the
Act to the extent it applies to payment
of dividend.
As stated in note 16 to the accompanying
financial statements, the Board of Directors
of the Company have proposed final
dividend for the year 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.
Based on our examination which included
test checks and as described in note
45 to the Ind AS financial statements,
the Company has used an accounting
software, for maintaining its books of
account which has a feature of recording
audit trail (edit log) facility and the same
has operated throughout the year for
all relevant transactions recorded in the
software except that, audit trail feature is
not enabled for certain changes made, if
any, using privileged/ administrative access
rights. Further, during the course of our
audit we did not come across any instance
of audit trail feature being tampered with,
in respect of accounting software where
the audit trail has been enabled.
Further, based on our examination which
included test checks and as explained in
note 45 to the financial statements, the
Company, has used certain accounting
softwares, which are operated by third-
party software service providers for
maintaining its books of account and
in the absence of reports of the Service
Organization confirming compliance
with requirement of audit trail, we are
unable to comment on whether audit
trail feature of the said softwares were
enabled and operated throughout the
year for all relevant transactions recorded
in the softwares or whether there were
any instances of the audit trail feature
being tampered with, in respect to an
accounting software.
Additionally, the audit trail of relevant prior
year has been preserved by the company
as per the statutory requirements for record
retention, to the extent it was enabled and
recorded in those respective year, as stated
in Note 45 to the financial statements.
For S.R. Batliboi & Associates LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Sandeep Karnani
Partner
Membership Number: 061207
UDIN: 25061207BMNTVQ1448
Place: Bengaluru
Date: May 14, 2025
216 Hitachi Energy India Limited