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August 2026

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 6 mins

COMPILER’S NOTE:

Vide notification date 24th March 2021, the Ministry of Corporate Affairs amended Schedule III to the Companies Act, 2013 to include disclosure of the utilisation of Borrowed Funds and Share Premium where any loans given or investments are made (directly or indirectly) in other persons / entities on behalf of the company (ultimate beneficiary). This disclosure is an onerous requirement and was introduced with the objective of reporting circuitous lending or investing of funds where the ultimate beneficiary is the company itself.

A similar requirement was also included in Rule 11 of the reporting requirements applicable to statutory auditors while reporting on the financial statements of a Company.

Given below is an illustration of such disclosure and the corresponding reporting by the statutory auditor.

CYIENT LIMITED (YEAR ENDED 31ST MARCH 2026)

Extracts from Note 33 of Standalone financial statements

Other statutory information

i. The Company does not have any Benami property in respect of which any proceeding has been initiated or is pending against the Company

ii. The Company does not have any tran

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