GSK_Annual_Report_2021

Notes to the Standalone Financial Statements for the year ended March 31, 2021 (contd.) Financial Statements GlaxoSmithKline Pharmaceuticals Limited 130 that the demand is not sustainable has been confirmed by an eminent counsel. The Government of India’s application in the Supreme Court praying that the writ petition be transferred to the the Supreme Court from the Bombay High Court was not allowed and the Company’s writ petition will now be heard by the Bombay High Court. (ii) Erstwhile BWIL had made an application to the Government of India for approval under Section 198(4) of the Companies Act, 1956, in respect of payment to the Managing Director and three whole time Directors amounting to ` 10.93 lakhs for the year ended August 31, 1986, which was in accordance with the minimum remuneration provided in the agreements entered into with them prior to erstwhile BWIL becoming public, which required such Government of India’s sanction. The approval is still awaited. Note 43 : Matters in respect of erstwhile SmithKline Beecham (India) Limited: (i) ` 1,44.44 lakhs received from Beckman Instruments International S.A. on account of disputed alleged additional commission has been included under non-current provisions and Income tax paid thereon aggregating ` 64.77 lakhs has been included under other non-current assets. The Company is contesting the matter with the concerned authorities. (ii) Refund of surtax ` 96.81 lakhs, and interest thereon amounting to ` 48.52 lakhs, received during 1994, have not been adjusted against the provision for tax in the books of accounts and recognised as income respectively, since the Income tax department had filed a reference application against the income tax tribunal’s order which was pending before the High Court of Karnataka. The Company has received an order dated April 18, 2007 from the High Court of Karnataka which is partially in the Company’s favour. On the basis of the aforesaid order, Income Tax Appellate Tribunal (ITAT), Bangalore will pass an order giving directions. On receipt of the ITAT order, the Company will take appropriate steps in the matter. Note 44 : Disclosures as required by Micro, Small and Medium Enterprises Development Act, 2006 are as under: ( ` in lakhs) As at March 31, 2021 As at March 31, 2020 (a) The principal amount and the interest due thereon remaining unpaid to suppliers (i) Principal 4,64.80 4,60.08 (ii) Interest due thereon 62.14 61.30 5,26.94 5,21.38 (b) (i) The delayed payments of principal amount paid beyond the appointed date during the entire accounting year 31,87.11 45,23.48 (ii) Interest actually paid under Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 - - (c) (i) Normal Interest accrued during the year, for all the delayed payments, as per the agreed terms - - (ii) Normal Interest payable for the period of delay in making payment, as per the agreed terms - - (d) (i) Total Interest accrued during the year 0.84 53.90 (ii) Total Interest accrued during the year and remaining unpaid 0.84 53.90 The above information regarding Micro, Small and Medium enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.