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CEO & CFO Certifications

CERTIFICATION BY CHAIRMAN & MANAGING DIRECTOR & VICE-PRESIDENT – FINANCE OF THE COMPANY

We, Dr. Prakash A. Mody, Chairman & Managing Director and Rakesh Parikh, Vice-President – Finance, of M/s. Unichem Laboratories Limited, to the best of our knowledge and belief certify that:

  • We have reviewed the Balance Sheet and Profit and Loss Account (both consolidated and stand-alone) of the Company for the year ended March 31, 2009 and all its schedules and notes to accounts, as well as the Cash Flow Statements.
  • To the best of our knowledge and information:
    • The financial statements and other financial information included in this report, fairly present in all material respects, the financial conditions, results of operations and cash flows of the Company as of, and for the periods presented in the Annual Report, and are in compliance with the existing accounting standards and/or applicable laws and regulations;
    • The financial statements and other financial information do not contain any materially untrue statement or omit to state a material fact or contains statement that might be misleading;
    • These statements together present a true and fair view of the Company’s affairs and are in compliance with existing accounting standards, applicable laws and regulations.
  • We also certify, that based on our knowledge and the information provided to us, there are no transactions entered into by the Company, which are fraudulent, illegal or in violation to the Company’s code of conduct.
  • We along with Company’s other certifying officers i.e. the functional heads of the Company, are responsible for establishing and maintaining disclosure controls and procedures for financial reporting of the Company, and we have:
    • designed such disclosure controls and procedures to ensure that material information relating to the Company, including transactions entered into with Foreign Subsidiaries, is made known to us by officials in these entities, particularly during the period in which the Annual Report is being prepared and
    • evaluated the effectiveness of the Company’s disclosure, controls and procedures
  • The Company’s other certifying officers and we have disclosed, based on our most recent evaluation, wherever applicable, to the Company’s Statutory Auditors and through them to the Audit Committee of the Company’s Board of Directors:
    • All significant deficiencies in the design or operation of internal controls, which we are aware could adversely affect the Company’s ability to record, process, summarize and report financial data and have identified any material weakness in internal controls and taken steps to rectify these deficiencies;
    • We, along with other certifying officers of the Company i.e. functional heads have indicated in this report whether or not there were significant changes in internal controls over financial reporting subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses;
    • Fraud, if any, which we have become aware of and that involves Management or other employees who have a significant role in the Company’s internal control systems over financial reporting;
    • Significant changes in accounting policies during the year, if any, have been disclosed in the notes to the financial statements.

      The above is also conveyed to the Board of Directors of the Company.
  • We further declare that all board members and senior management have affirmed compliance with the code of business conduct and ethics for the current year.

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