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July 2023

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 9 mins
COMPILERS’ NOTE
Transactions between Related Parties (RP) and whether the same are at “Arms’ Length” have always been a contentious issue for regulators. Of late, identification of such RP and Related Party Transactions (RPT) has attained a high level of regulatory scrutiny by SEBI, Income Tax and Goods and Service Tax authorities. Auditors have also started closely looking at the identification process of RP and disclosure of RPT by companies. Given below is a Qualified Opinion for transactions with certain parties for which sufficient and appropriate evidence was not available to the satisfaction of the auditors to confirm whether these parties were RP and whether the disclosures for the RPT was as per requirements. ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD
From Independent Auditor’s Report on audit of annual standalone financial results and review of Quarterly financial results for the year and quarter ended 31st March, 2023 QUALIFIED OPINION AND CONCLUSION
We have (a) audited the Standalone Financial Results for the year ended March 31, 2023 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2023 (refer ‘Other Matters’ section below) which were subject to limited review by us, both included in the accompanying “Statement of St
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