Page 219 - Hitachi IR 2025

Annexure 1 to the Independent
Auditor’s Report
ANNEXURE 1 REFERRED TO IN CLAUSE 1 OF PARAGRAPH ON THE ‘REPORT ON OTHER LEGAL AND
REGULATORY REQUIREMENTS’ OF OUR REPORT OF EVEN DATE
Re: Hitachi Energy India Limited (‘the Company’)
In terms of the information and explanations sought by us and given by the Company and the books of account and
records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:
(i) (a) (A) The Company has maintained proper records showing full particulars, including quantitative details
and situation of property, plant and equipment and relevant details of right-of-use assets.
(B) The Company has maintained proper records showing full particulars of intangibles assets.
(b) Property, plant and equipment and right-of use assets have been physically verified by the management
during the year and no material discrepancies were identified on such verification.
(c) The title deeds of immovable properties (other than properties where the Company is the lessee and the
lease agreements are duly executed in favour of the lessee and as tabulated below) as disclosed in note 3
to the accompanying financial statements included in property, plant and equipment are held in the name
of the Company. Certain immovable properties acquired as per the scheme of arrangement approved by
the National Company Law Tribunal vide its order dated November 27, 2019 included in property, plant
and equipment and as tabulated below are not held in the name of the Company.
Description of
Property
Gross carrying
value
Held in
name of
Whether promoter,
director or their
relative or employee
Period held Reason for not being held
in the name of Company
Freehold land and
buildings attached
to it
` 120.62 Crores ABB India
Limited
No Since 2019 We understand from
the management that
registration is in process.
(ii) (d) (e) (a) (b) The Company has not revalued its property, plant and equipment (including right of use assets) or intangible
assets during the year ended March 31, 2025.
As disclosed in note 43 to the accompanying financial statements, there are no proceedings initiated or are
pending against the Company for holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and rules made thereunder.
Physical verification of inventory has been conducted at reasonable intervals during the year by management
except for inventories lying with third parties and goods in transit. In our opinion, the coverage and
procedure of such verification by the management is appropriate. Inventories lying with third parties have
been substantially confirmed by them as at March 31, 2025. There were no discrepancies of 10% or more
noticed, in the aggregate for each class of inventory.
The Company has not been sanctioned working capital limits in excess of Rupees five Crores in aggregate
from banks or financial institutions during any point of time of the year on the basis of security of current
assets. Accordingly, the requirement to report on clause 3(ii)(b) of the Order is not applicable to the
Company and hence not commented upon.
(iii) (a) During the year the Company has provided interest free loans to other parties (i.e. employees) as
summarized below:
Particulars Loans
Aggregate amount granted/ provided during the year
- Others (loans to employees)
` 7.25 Crores
Balance outstanding as at balance sheet date in respect of above cases
- Others (loans to employees)
` 9.52 Crores
Integrated Annual Report 2024-25
217