Annual Report 2016-17

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Annual Report 2016-17

Chief Executive Ofocer (CEO) and Chief Financial Ofocer (CFO) certiocation –

:e, to the best of our knowledge and belief, certify that

A. :e have reviewed onancial statements and the cash pow statement for the year and that:

these statements do not contain any materially untrue statement or omit any material fact or contain

statements that might be misleading

2. these statements together present a true and fair view of the Company’s affairs and are in compliance with

e[isting accounting standards, applicable laws and regulations.

B. There are no transactions entered into by the Company during the year which are fraudulent, illegal or violative of

the Company’s code of conduct.

C. :e accept responsibility for establishing and maintaining internal controls for onancial reporting and we have

evaluated the effectiveness of internal control systems of the Company pertaining to onancial reporting and

have disclosed to the auditors and the Audit Committee, deociencies in the design or operation of such internal

controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deociencies,

and we have:

Designed such disclosures controls and procedures or caused such internal control over onancial reporting to

be designed under our supervision to ensure that material information relating to the Company, including its

consolidated subsidiaries, is made known to us by others within those entities, particularly during the period

in which this report is being prepared.

2. Designed such internal control over onancial reporting, or caused such internal control over onancial reporting

to be designed under our supervision, to provide reasonable assurance regarding the reliability of onancial

reporting and the preparation of onancial statements for e[ternal purpose in accordance with the Generally

Accepted Accounting Principles (GAAP) in India

3. Evaluated the effectiveness of the Company’s disclosure, control and procedures.

4. Disclosed in this report, changes, if any, in the company’s internal control over onancial reporting that occurred

during the Company’s most recent oscal year that has materially affected, or is reasonably likely to materially

affect, the Company’s internal control over onancial reporting.

D. :e have indicated to the auditors and the Audit committee:

signiocant changes in internal control over onancial reporting during the year

2. signiocant changes in accounting policies during the year and that the same have been disclosed in the notes

to the onancial statements and

3. Instances of signiocant fraud of which we have become aware and the involvement therein, if any, of the

management or an employee having a signiocant role in the Company’s internal control system over onancial

reporting.

4. Any deociencies in the design or operation of internal controls, that could adversely affect the Company’s

ability to record, process, summarize and report onancial data, and have conormed that there have been no

material weaknesses in internal control over onancial reporting including any corrective actions with regard

to deociencies.

E. :e aform that we have not denied any personnel access to the audit committee of the Company (in respect of

matters involving alleged misconduct) and we have provided protection to whistleblowers from unfair termination

and other unfair or prejudicial employment practices.

F. :e further declare that all Board members and senior management personnel have aformed compliance with the

Code of Conduct and Ethics for the year covered by this report.

For and on behalf of the Board of Directors

Pune, May 30, 2017

Dr. Anand Deshpande

Chairman and Managing Director

Sunil Sapre

Chief Financial Ofocer