Nikkiso Cosmodyne India Private Limited

Statutory Audit for the year ended 31 March 2023

Particulars Applicability
1.CSR
A company falling under any of the three following criteria during the immediately
preceding financial year is required to comply with CSR provisions specified under
section 135(1) of the Companies Act, 2013:
(i) net worth of rupees five hundred crore or more, or NA
(ii) turnover of rupees one thousand crore or more, or NA
(iii) net profit of rupees five crore or more. NA

In Crores (PY)

Net worth means the aggregate value of the paid-up share capital and all reserves
created out of the profits, securities premium account and debit or credit balance of
profit and loss account, after deducting the aggregate value of the accumulated
losses, deferred expenditure and miscellaneous expenditure not written off, as per the
audited balance sheet, but does not include reserves created out of revaluation of
assets, write-back of depreciation and amalgamation;
28.05

Turnover means the gross amount of revenue recognised in the profit and loss
account from the sale, supply, or distribution of goods or on account of services
rendered, or both, by a company during a financial year; 35.33

Net Profit 4.08

Conclusion:

As any of the conditions is not satisfying , the company does not fall under Section
135 of the Companies Act i.e. Corporate Social Responsibilty in the current Financial
year
Paid Up Share Capital and Reserves Capital Reserve
& Surplus Amalgamation Reserve Addition on amalgamation

266,852,742 1,147,436 12,471,807

Nikkiso Cosmodyne India Private Limited
Statutory Audit for the year ended 31 March 2023

INTERNAL AUDIT Applicability

COMPANIES REQUIRED TO APPOINT INTERNAL AUDITOR [SUBSECTION 1 READ WITH RULE 13(1) OF COMPANIES
(ACCOUNTS) RULES, 2014]
a. Every listed company;
b. Every unlisted public company having;
i. Paid up share capital of fifty crore rupees or more during the preceding financial year; or
ii. Turnover of two hundred crore rupees or more during the preceding financial year; or
iii. Outstanding loans or borrowings from banks or public financial institutions exceeding one hundred crore rupees or
more at any point of time during the preceding financial year; or
iv. Outstanding deposits of twenty-five crore rupees or more at any point of time during the preceding financial year;
and
c. Every private company having
i. Turnover of two hundred crore rupees or more during the preceding financial year; or
ii. Outstanding loans or borrowings from banks or public financial institutions exceeding one hundred crore rupees
or more at any point of time during the preceding financial year.

Conclusion:
As any of the conditions is not satisfying , the company is not required to conduct Internal Audit as per Companies Act
in the current Financial year
 Details of the company (PY)

(i)Nikkiso Cosmodyne India Private Limited is

having
a)Turnover of Rs.35.33 crore during the
preceding financial year
(ii)having Outstanding Loans or borrowings
from banks or public financial institutions
exceeding one hundred crore rupees or more
. - NIL
Nikkiso Cosmodyne India Private Limited
Statutory Audit for the year ended 31 March 2023

IFC
FC/ICFR is applicable without any terms and conditions for Listed
companies and public unlisted companies.

In case of private companies, IFC/ICFR is applicable wherein

Turnover > 50 crore
or
outstanding loan & borrowings from bank > 25 crore of the last
audited Balance Sheet

Conclusion:

As any of the conditions is not satisfying , the company is not

required to maintain Internal Financial Control as per Companies
Act in the current Financial year
 Details of the company (PY)

(i)Nikkiso Cosmodyne India Private Limited is having

a) Turnover of Rs.35.33 crore during the preceding
financial year
or
b) having Outstanding Loans or borrowings from
banks or public financial institutions exceeding 25
crore rupees or more . - NIL
Nikkiso Cosmodyne India Private Limited
Statutory Audit for the year ended 31 March 2023

Cost Audit Details of the company (PY)

For the purposes of sub-section (1) of section 148 of the Act, rule 3
of the Companies (Cost Records and Audit) Rules, 2014 provides,
the class of companies (including foreign companies defined in
clause (42) of section 2 of the Act) engaged
1)in the production of the goods or providing services, specified in
the Table A (6 Regulated Sectors)
and/or
2)Table B (33 Non-Regulated Sector), having an overall turnover
from all its products and services of rupees thirty five crore or
more during the immediately preceding financial year, shall
include cost records for such products or services in their books of
account in form CRA 1
C:\Users\khutf\Pictures\Screenshots\Screenshot 2023-08-08 152729.png
 IMPORTANT LIMITS FOR VARIOUS COMPLIANCES

A Level of Enterprise
Following conditions are to be considered while deciding the level of entity:

NON SMCs*
Turnover for the immediately preceeding accounting year
exceeds Rs. 250 Crores.
OR
Borrowings including Public Deposits in excess of Rs. 50
Crores at any time during the immediately preceeding
accounting year.

OR
Listed Companies
OR
Subsidiary/ Holding of above
OR
Bank, Financial Institutions and Insurance Company

* All entity other than above are classified as SMC

B CARO Applicability
CARO Rules

Applicable to all Companies other than Banking Companies, OPC, Small Company, Insurance Companies, Section
8 Company and Private Limited.

For Pvt. Limited, any of the following condition is fulfilled at any point of time during the year then CARO is
applicable:
Holding or subsidiary of a Public company
Paid up Capital & Reserves greater than Rs. 1 crore
Loans from Banks or Financial Institution exceeds Rs. 1 crore
Turnover exceeds Rs. 10 Crores

C Small Company
Sec 2(85)

Small Company means a company other than a Public Company that satisfies either of the following conditions:

Items Amounts Exceeding Year

Paid-up share capital 4 crores Current Financial year
Turnover 40 crores Preceeding financial year

Note :
Provided above definition will not include:
 1) holding company or subsidiary company
2) Company registered under section 8 or
3) Company or body corporate governed by any special act

D Internal Audit Applicability

Section 138 & Rule 13 of Companies (Accounts) Rule 2014

Listed Company Compulsory

Unlisted Public Company Any of the following
Items Amounts Exceeding Year
Paid up Share Capital 50 Crores Preceeding Financial Year
Turnover 200 Crores Preceeding Financial Year
Outstanding loans and borrowings 100 Crores At any point of time during preceeding financial
from banks or public financial year
institutions

Outstanding Deposits 25 Crores At any point of time during preceeding financial

year
Private Limited Company Any of the following
Items Amounts Exceeding Year
Turnover 200 Crores Preceeding Financial Year
Outstanding loans and borrowings 100 Crores At any point of time during preceeding financial
from banks or public financial year
institutions

E Cost Records Applicability

Section 148 & Rule 3 of Companies (Cost Records and Audit ) Rules 2014

Items Amounts Exceeding Year

All Company Turnover Rs. 35 Crores or Preceeding Financial Year
more

Exempted Category
Liasion office of Foreign Company
Company which is classified as micro or small enterprise of Micro, Small and Medium Enterprise Development
Act, 2006

F Cost Audit Rules Applicability ( In case of cost record rules are applicable)
Rule 4 of Companies (Cost Records and Audit ) Rules 2014

Items Amounts Exceeding Year

 Company producing Multi product Aggregate Turnover Rs. Preceeding Financial Year
or providing multi services 100 Crores or more and
Aggregate turnover of
individual product or
service Rs. 35 crores or
more

Company under Regulated Sector Aggregate Turnover Rs. 50 Preceeding Financial Year
Crores or more and
Aggregate turnover of
individual product or
service Rs. 25 crores or
more

Exemption:

(i) whose revenue from exports, in foreign exchange, exceeds seventy five per cent of its total revenue or
(ii) which is operating from a special economic zone.

(iii) which is engaged in generation of electricity for captive consumption through captive generating plant

G XBRL
Section 137 & Rule 3 of Companies (Filing of Documents) Rules, 2015

Listed companies Compulsory

Other Companies Any of the following
Items Amounts Exceeding Year
Paid up Share Capital 5 Crores Current Financial Year
Turnover 100 Crores Current Financial Year
Company following IND AS Current Financial Year

G Secretarial Audit
Section 204

Listed Company Compulsory

Public Company Any of the following
Items Amounts Exceeding Year
Paid up Share Capital 50 Crores Current Financial Year
Turnover 250 Crores Current Financial Year
Borrowings 100 crores Current Financial Year

Private Limited
Borrowings 100 crores Current Financial Year

H Corporate Social Responsibility

Section 135
 All Companies Any of the following
Items Amounts Exceeding Year
Net worth Capital 500 Crores Preceeding Financial Year
Turnover 1000 Crores Preceeding Financial Year
Net Profit 5 Crores Preceeding Financial Year

I Women Director
Rule 3 of Companies (Appointment of Directors) Rules, 2014

Listed Company Compulsory

Unlisted Public Company Any of the following
Items Amounts Exceeding Year
Paid up Share Capital 100 Crores Preceeding Financial Year
Turnover 300 Crores Preceeding Financial Year
Private Limited Not applicable

J Independent Director
Rule 4 of Companies (Appointment and Qualifications of Directors) Rules, 2014

Listed Company Compulsory

Unlisted Public Company Any of the following
Items Amounts Exceeding Year
Capital 10 Crores Preceeding Financial Year
Turnover 100 Crores Preceeding Financial Year
Borrowings 50 Crores Preceeding Financial Year
Private Limited Not applicable

Exclusions in unlisted company

(a) joint venture;
(b) a wholly owned subsidiary; and
(c) a dormant company as defined under section 455 of the Act.

K KMP
Rule 8 of Companies (Appointment and Remuneration) Rules, 2014

Listed Company Compulsory

Unlisted Public Company Any of the following
Items Amounts Exceeding Year
Paid up Share Capital 10 Crores Preceeding Financial Year
Private Limited Not applicable

L Whole time Company Secretary

Rule 8 and 8A of Companies (Appointment and Remuneration) Rules, 2014

Listed Company Compulsory

 Unlisted Public Company
Items Amounts Exceeding Year
Capital 10 Crores Preceeding Financial Year
Private Limited
Amounts Exceeding Year
Capital 10 Crores Preceeding Financial Year

M Compliance Certificate MGT - 8

Sec 92(2)

Listed Company Compulsory

Other Company Any of the following
Items Amounts Exceeding Year
Capital 10 Crores Current Financial Year
Turnover 50 Crores Current Financial Year

N Audit Committee
Sec 177 & Rule 6 of Companies (Meetings of Board and its Power) Rules, 2014

Listed Company Compulsory

Unlisted Public Company Any of the following
Items Amounts Exceeding Year
Paid Up Capital 10 Crores Preceeding Financial Year
Turnover 100 Crores Preceeding Financial Year

outstanding loans or borrowings

or debentures or deposits 50 Crores Preceeding Financial Year
Private Limited Not applicable

O Class of company to whom Rotation of Auditor is Applicable

Section 139(2)
Rule 5 of Companies (Audit and Auditors) Rules, 2014

Listed Company Compulsory

Unlisted Public Company Any of the following
Items Amounts Exceeding Year
Paid up Share Capital 10 crores Current Financial Year
Public Borrowings from financial
institutions, Banks or Public 50 Crores
Deposits Current Financial Year

Private Company Any of the following

Items Amounts Exceeding Year
Paid up Share Capital 50 Crores Current Financial Year
 Public Borrowings from financial
institutions, Banks or Public 50 Crores
Deposits Current Financial Year

Excludes
One Person Companies
Small Companies

P Internal Financial Controls with reference to Financial Reporting

Section 143(3)(i)

Listed Company Compulsory

Unlisted Public Company Compulsory
Private Company Any of the following
Items Amounts Exceeding Year
Turnover 50 Crores Preceeding Financial Year
Borrowings from financial
institutions, Banks or Body 25 Crores
Corporate Current Financial Year

Excludes
One Person Companies
Small Companies

Q Tax Audit
For Business
Person

Turnover > 10
crore

Applicable
Cash receipts < 5% of total receipts
AND
Cash payments < 5% of total payments

Not Applicable

Turnover > 1 crores

 Turnover > 1 crores

Applicable

R NFRA
(a) Companies whose securities are listed on any stock exchange in India or outside India;
(b) Unlisted public companies having paid-up capital of not less than rupees five hundred crores or having
annual turnover of not less than rupees one thousand crores or having, in aggregate, outstanding loans,
debentures and deposits of not less than rupees five hundred crores as on the 31st March of immediately
preceding financial year;

(c) Insurance companies, banking companies, companies engaged in the generation or supply of electricity,
companies governed by any special Act for the time being in force or bodies corporate incorporated by an Act in
accordance with clauses (b), (c), (d), (e) and (f) of sub-section (4) of section 1 of the Act;

(d) Any body corporate or company or person, or any class of bodies corporate or companies or persons, on a
reference made to the Authority by the Central Government in public interest
(e) A body corporate incorporated or registered outside India, which is a subsidiary or associate company of any
company or body corporate incorporated or registered in India as referred to in clauses (a) to (d), if the income
or networth of such subsidiary or associate company exceeds twenty per cent. of the consolidated income or
consolidated networth of such company or the body corporate, as the case may be, referred to in clauses (a) to
(d).
any, Insurance Companies, Section

me during the year then CARO is

either of the following conditions:

and
 ancial Year
ancial Year
f time during preceeding financial

f time during preceeding financial

f time during preceeding financial

Medium Enterprise Development

er cent of its total revenue or

ugh captive generating plant

 Turnover < 10
crore

Otherwise
s

Company Individaul / HUF /

Firm

ver > 1 crores Turnover < 1 crores

ver > 1 crores Turnover < 1 crores

Turnover > 2 crores

pplicable Not Applicable

Applicable

6% or 8% profits
declared

Not Applicable

utside India;
ve hundred crores or having
regate, outstanding loans,
e 31st March of immediately

ration or supply of electricity,

orporate incorporated by an Act in
of the Act;

e or companies or persons, on a
t
idiary or associate company of any
in clauses (a) to (d), if the income
t. of the consolidated income or
ay be, referred to in clauses (a) to
Individaul / HUF /
Firm
 Turnover < 2 crores

6% or 8% profits 6% or 8% profits not

declared declared

Not Applicable Applicable

Phase I (01-04-2016)
a. Listed or unlisted company
b. net worth greater than or equal to Rs. 500 crores
where net worth needs to be checked for previous three financial years

Phase II (01-04-2017)
a. Listed or in process of being listed (as on 31.03.16)
b. net worth greater than or equal to Rs. 250 crores, but less than 500 crores.
where net worth needs to be checked for previous four financial years

Phase III (01-04-2018)

Mandatory applicability to all banks, NBFC's and Insurance companies
whose net worth is greater than or equal to Rs. 500 crores
where net worth needs to be checked for previous three financial years

Phase IV (01-04-2019)
All NBFCs whose net worth is greater than or equal to Rs. 250 crores, but less than 500 crores.