The Company is required to maintain cost records under Companies (Cost Records and Audit) Rules, 2014. Accordingly, cost records have been maintained by your Company.
The Board of Directors, on the recommendation of the Audit Committee, appointed B. M. Sharma & Company, Cost Accountants, to conduct audit of the Company’s cost records for FY 2021-22 at a remuneration of ₹ 8,00,000/- (Rupees Eight Lakhs only) plus applicable taxes and out of pocket expenses. As required under the provisions of the Act, the remuneration of Cost Auditors as approved by the Board of Directors is subject to ratification by the Members at the ensuing Annual General Meeting. A Resolution for the ratification of remuneration of Cost Auditors for FY 2021-22 is provided in the Notice. Your Directors recommend the same for approval by the Members.
The Cost Audit Report will be filed within the prescribed period of 180 days from the close of the Financial Year.