Six infants died from kidney damage, and a further babies were hospitalised.
Management's Responsibility for the Financial Statements The Company's Board of Directors is responsible for the matters stated in Section 5 of the Companies Act, "the Act" with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section of the Act, read with Rule 7 of the Companies Accounts Rules, This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under. We conducted our audit in accordance with the Standards on Auditing specified under Section 10 of the Act.
Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial control system over financial reporting and the operating effectiveness of such controls.
An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st December,and its profit and its cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements 1. As required by the Companies Auditor's Report Order, "the Order" issued by the Central Government in terms of Section 11 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
As required by Section 3 of the Act, we report, to the extent applicable, that: The Company has disclosed the impact of pending litigations on its financial position in its financial statements —Refer Note 28 and 39 to the financial statements; ii.
The Company did not have any long—term contracts including derivative contracts for which there were any material foreseeable losses; iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company — Refer Note 9 to the financial statements.
According to the information and explanations given to us, no material discrepancies were noticed on such verification.
There is no material sale of services. During the course of our audit, we have not observed any major weakness in such internal control system. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.
The Company has not issued any debentures.Building for the Next Years Nestlé India Limited • Annual Report The Board of Directors of Nestlé India Limited (From left to right) Shobinder Duggal (Director - Finance & Control and CFO) Rajya Vardhan Kanoria (Non Executive Director) monstermanfilm.com (` * (` * Nestlé India Limited • Annual Report 11 After more than a century-old association with the country, today, Nestlé India has presence across India with 8 manufacturing facilities, a presence across more than million outlets.
In , Nestle merged with milk chocolate inventor Daniel Peter. – Mergers Aleppo Nestle building Tilal street s.
In their Corporate Citizenship Report, Nestlé themselves stated that many of their bottles end up in the solid-waste stream, and that most of their bottles are not recycled.
Nestle: Requirement to Report Use of Slave Labor Would Cost Consumers More Money A new anti-slavery bill requiring companies to investigate and report on their supply chains to prevent modern slavery will lead to consumers paying more, according to Nestle.
INDEPENDENT AUDITORS' REPORT. TO THE MEMBERS. OF NESTLE INDIA LIMITED. Report on the Financial Statements. We have audited the accompanying financial statements of NESTLE . Nestlé Report - Ebook download as PDF File .pdf), Text File .txt) or view presentation slides online.