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Auditor Report of Central Bank of India

Mar 31, 2015

1. We have audited the accompanying financial statements of Central Bank of India as at March 31,2015 which comprise the Balance Sheet as at March 31, 2015 and Profit and Loss Account and Cash Flow Statement for the year then ended and a summary of significant Accounting Policies and other explanatory information. Incorporated in these financial statements are the returns of 20Branches, 37 Regional Offices audited by us out of a total of 4689 branches, 80 Regional Offices,and 1819 branches audited by other branch auditors. Also incorporated in the Balance Sheet and Profit and Loss Account are the returns of 2850 branches, 43 Regional Offices which have not been subjected to audit. The unaudited branches account for 9.97% of advances, 30.75% of deposits, 6.69% of interest income and 24.37% of interest expense. The branches audited by us and those audited by other auditors have been selected by Bank in accordance with the guidelines issued by the Reserve Bank of India.

Management''s Responsibility for the Financial Statements

2. Management of the Bank is responsible for the preparation of these financial statements that give true and fair view of the financial position and financial performance of the Bank in accordance with Banking Regulation Act, 1949 and complying with Reserve Bank of India Guidelines issued from time to time. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that are free from material misstatements, whether due to fraud or error.

Auditor''s Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statement. The procedures selected depend on the auditor''s judgement including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Bank''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the bank''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

6. In our opinion, as shown by the books of the bank, and to the best of our information and according to the explanations given to us, we report that:

i. The Balance Sheet read with the Significant Accounting Policies and Notes thereon, is a full and fair Balance Sheet containing all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at March 31,2015, in conformity with accounting principles generally accepted in India.

ii. The Profit and Loss Account, read with the Significant Accounting Policies and Notes thereon shows a true balance of Profit, in conformity with accounting principles generally accepted in India, for the year covered by the account; and

iii. The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory requirements

7. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms ''A'' & ''B'' respectively of the Third Schedule to the Banking Regulation Act, 1949.

8. Subject to the limitations of the audit indicated in paragraphs 1 to 5 above and as required by the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and subject also to the limitations of disclosure required therein, we report that:

a) We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary for the purposes of our audit and have found them to be satisfactory.

b) The transactions of the Bank which have come to our notice have been within the powers of the Bank.

c) The returns received from the Offices and Branches of the Bank, as supplemented with the information furnished by the Management, have been found adequate for the purposes of our audit.

9. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement comply with the applicable Accounting Standards.

For KUMAR CHOPRA & ASSOCIATES For P.K. SUBRAMANIAM & CO. For DOOGAR & ASSOCIATES

CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R. No. 000131N F.R. No. 004135S F.R. No. 000561N

(CA R.K.AGGARWAL) (CA SRIGOPAL INNANI) (CA MUKESH GOYAL)

PARTNER PARTNER PARTNER

M.No. 081510 M.No. 210087 M.No. 081810

For N. SARKAR & CO. For B.N. MISRA & CO. For CHANDABHOY & JASSOOBHOY

CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R. No. 301075E F.R. No. 321095E F.R. No.101647W

(CA M. RAY) (CA B.N. MISRA) (CA AMBESH A.DAVE)

PARTNER PARTNER PARTNER

M.No. 012940 M.No. 083927 M.No. 049289

Place : Mumbai Date : May 12, 2015


Mar 31, 2014

1. We have audited the accompanying financial statements of Central Bank of India as at March 31, 2014 which comprise the Balance Sheet as at March 31, 2014 and profit and Loss Account and Cash Flow Statement for the year then ended and a summary of significant Accounting Policies and other explanatory information. Incorporated in these financial statements are the returns of 20 Branches, 38 Regional Offices audited by us out of a total of 4550 branches, 80 Regional Offices, and 1441 branches/ Service Support Branches audited by other branch auditors. Also incorporated in the Balance Sheet and profit and Loss Account are the returns of 3089 branches, 42 Regional Offices which have not been subjected to audit. The unaudited branches account for 9.98% of advances, 38.61% of deposits, 8.78% of interest income and 31.70% of interest expense. The branches audited by us and those audited by other auditors have been selected by Bank in accordance with the guidelines issued by the Reserve Bank of India.

Management''s Responsibility for the Financial Statements

2. Management of the Bank is responsible for the preparation of these financial statements that give true and fair view of the financial position and financial performance of the Bank in accordance with Banking Regulation Act, 1949 and complying with Reserve Bank of India Guidelines issued from time to time. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that are free from material misstatements, whether due to fraud or error.

Auditor''s Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statement. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Bank''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the bank''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

6. In accordance with Standard on Audit (SA) 706 "Emphasis of Matter Paragraph" without qualifying our opinion, we draw attention to -

(i) Note no.10(c) of the Schedule 18 to the financial statements regarding deferment of pension liability and gratuity liability of the Bank, pursuant to the exemption granted by the Reserve Bank of India to the Public Sector banks from application of the provisions of Accounting Standard (AS) 15, Employees Benefits vide circular No. DBOP. BP.BC/80/21.04.018/2010-11 dated 09.02.2011 on "Re-opening of Pension Option to the employees of Public Sector Banks and Enhancement in Gratuity Limits Prudential Regulatory treatment" Accordingly, out of the unamortized amount of Rs. 590.77 crore as on 01.04.2013, the Bank has amortised Rs. 239.99 crore for Pension and Rs. 55.40 crore for Gratuity being proportionate amount for the year ended March 31, 2014 and balance amount to be amortised in future period for Pension is Rs.239.98 crore and for Gratuity is Rs.55.40 crore.

(ii) Note no.10 (g) of Schedule 18 to the financial statements, which describes the accounting treatment of the expenditure on creation of Deferred Tax Liability on Special Reserve under section 36(1) (viii) of the Income Tax Act, 1961 as at 31st March 2013, pursuant to RBI''s circular No. DBOD. No. BP.BC. 77/21.04.018/2013-14 dated 20th December, 2013.

Opinion

7. In our opinion, as shown by the books of the bank, and to the best of our information and according to the explanations given to us, we report that:

i. The Balance Sheet read with the Significant Accounting Policies and Notes thereon, is a full and fair Balance Sheet containing all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at March 31, 2014, in conformity with accounting principles generally accepted in India.

ii. The profit and Loss Account, read with the Significant Accounting Policies and Notes thereon shows a true balance of loss, in conformity with accounting principles generally accepted in India, for the year covered by the accounts; and

iii. The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory requirements

8. The Balance Sheet and the profit and Loss Account have been drawn up in Forms ''A'' & ''B'' respectively of the Third Schedule to the Banking Regulation Act, 1949.

9. Subject to the limitations of the audit indicated in paragraphs 1 to 5 above and as required by the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and subject also to the limitations of disclosure required therein, we report that:

a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit and have found them to be satisfactory.

b) The transactions of the Bank which have come to our notice have been within the powers of the Bank.

c) The returns received from the Offices and Branches of the Bank, as supplemented with the information furnished by the Management, have been found adequate for the purposes of our audit.

10. In our opinion, the Balance Sheet, profit and Loss Account and Cash Flow Statement comply with the applicable Accounting Standards.

For KUMAR CHOPRA & For P.K. SUBRAMANIAM & CO For DOOGAR & ASSOCIATES

ASSOCIATES CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

CHARTERED ACCOUNTANTS F.R. No.004135S F.R. No.000561N

F.R. No.000131N

(CA SUNIL JAIN) (CA S. VENKATKRISHNAN) (CA MUKESH GOYAL)

PARTNER PARTNER PARTNER

M.No.080990 M.No.023488 M.No.081810

For N.SARKAR & CO For N. CHAUDHURI & CO. For B.N.MISRA & CO. CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R. No.301075E F.R. No.301032E F.R. No.321095E

(CA M. RAY) (CA ANUP BISWAS) (CA S. S. MOHAPATRA )

PARTNER PARTNER PARTNER

M.No.012940 M.No.050708 M.No.061619

Place : Mumbai

Date: May 10, 2014


Mar 31, 2013

1. We have audited the accompanying financial statements of Central Bank of India as at 31st March, 2013, which comprise the Balance Sheet as at March 31, 2013, and Profit and Loss Account and Cash Flow Statement for the year then ended and a summary of significant Accounting Policies and other explanatory information. Incorporated in these financial statements are the returns of 20 Branches, 34 Regional offices audited by us out of a total of 77 Regional offices, 1358 Branches and 53 Service Support Branches/Offices audited by other branch auditors. Also incorporated in the Balance Sheet and Profit and Loss Account are the returns of 2863 branches, 43 Regional offices which have not been subjected to audit. The unaudited branches account for 9.76% of advances, 42.05% of deposits, 8.45% of interest income and 26.33% of interest expense. The branches audited by us and those audited by other auditors have been selected by Bank in accordance with the guidelines issued by the Reserve Bank of India.

Management''s Responsibility for the Financial Statements

2. Management of the Bank is responsible for the preparation of these financial statements that give true and fair view of the financial position and financial performance of the Bank in accordance with Banking Regulation Act, 1949 and complying with Reserve Bank of India Guidelines issued from time to time. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that are free from material misstatements, whether due to fraud or error.

Auditor''s Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Bank''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

6. Dividend has been proposed by the Bank without writing off unamortized amount of pension (Rs 479.96 Crore) and gratuity liability (Rs. 110.80 Crore), subject to permission of Central Government.

7. Without qualifying our opinion, we draw attention to Note No. 11(c) of the Schedule 18 to the financial statements, regarding deferment of pension liability and gratuity liability of the Bank, pursuant to the exemption granted by the Reserve Bank of India to the public sector banks from application of the provisions of Accounting Standard (AS) 15, Employees Benefits vide circular no. DBOD.BP.BC/80/21.04.018/2010-11, dated 09-02-2011 on "Re- opening of Pension Option to the employees of Public Sector Banks and Enhancement in Gratuity Limits- Prudential Regulatory Treatment." Accordingly, out of the unamortized amount of Rs 886.15 crore as on 01/04/2012, the Bank has amortized Rs 239.98 crore for Pension and Rs 55.40 crore for Gratuity being proportionate amount for the year ended March 31, 2013 and balance amount to be amortized in future periods for Pension is Rs. 479.97 crore and for Gratuity is Rs.110.80 crore.

8. In our opinion, as shown by the books of the bank, and to the best of our information and according to the explanations given to us, we report that :

(i) The Balance Sheet, read with the Significant Accounting Policies and Notes thereon, is a full and fair Balance Sheet containing all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at 31st March 2013, in conformity with accounting principles generally accepted in India;

(ii) The Profit and Loss Account, read with the Significant Accounting Policies and Notes thereon, shows a true balance of profit, in conformity with accounting principles generally accepted in India, for the year covered by the accounts; and

(iii) The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory requirements

9. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms ''A'' & ''B'', respectively, of the Third Schedule to the Banking Regulation Act, 1949.

10. Subject to the limitations of the audit indicated in paragraphs 1 to 5 above and as required by the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and subject also to the limitations of disclosure required therein, we report that;

(a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit and have found them to be satisfactory.

(b) The transactions of the Bank which have come to our notice have been within the powers of the Bank.

(c) The returns received from the Offices and Branches of the Bank, as supplemented with the information furnished by the Management, have been found adequate for the purposes of our audit.

11. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement comply with the applicable Accounting Standards.

For M/s. K.S. AIYAR & CO. For M/s. D. RANGASWAMY & CO. For M/s. GHIYA & CO.

CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R.NO.-100186W F.R.NO.-003073S F.R.NO.-001088C

(CA SANTANU GHOSH) (CA B. RAMANI) (CA SANJAY GHIYA)

PARTNER PARTNER PARTNER

M. N0.050927 M. N0.019603 M. NO.072467

For M/s. SAMSAND & For M/s. KUMAR CHOPRA & For M/s. P.K. SUBRAMANIAM ASSOCIATES ASSOCIATES & CO.

CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R.NO.-003708N F.R.NO.-000131N F.R.NO.-004135S

(CA ANAND PARKASH) (CA R.K. AGGARWAL) (CA U.SURENDRA PRABHU)

PARTNER PARTNER PARTNER

M. NO.082735 M. NO.081510 M. NO.027601

Place : Mumbai

Date : May 10, 2013


Mar 31, 2012

1. We have audited the attached Balance Sheet of Central Bank of India as at 31st March, 2012, the Profit and Loss Account and the Cash Flow Statement annexed thereto for the year ended on that date in which are incorporated the returns of 20 Branches, 37 Regional offices audited by us out of a total of 74 Regional offices, 2540 Branches, 20 non-business offices and 9 CMS branches audited by other branch auditors. Also incorporated in the Balance Sheet and Profit and Loss Account are the returns of 1454 branches, 37 regional offices which have not been subjected to audit. The unaudited branches account for 3.29% of advances, 12.50% of deposits, 12.51% of interest income and 11.14% of interest expense. The branches audited by us and those audited by other auditors have been selected by Bank in accordance with the guidelines issued by the Reserve Bank of India. These financial Statements are the responsibility of Bank's Management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall presentation of financial statements.

3. Dividend has been declared by the Bank without writing off un-amortized amount of pension (Rs. 719.95 Crore) and gratuity liability (Rs. 166.20 Crore), subject to permission of Central Government.

4. Without qualifying our opinion, we draw attention to Note no. 12 of the schedule 18 to the financial statements, regarding deferment of pension liability and gratuity liability of the Bank, pursuant to the exemption granted by the Reserve Bank of India to the public sector banks from application of the provisions of Accounting Standard (AS) 15, Employees Benefits vide circular no.

DBOD.BP.BC/80/21.04.018/2010-11, dated 09-02-2011 on "Re-opening of Pension Option to the employees of Public Sector Banks and Enhancement in Gratuity Limits- Prudential Regulatory Treatment." Accordingly, out of the unamortized amount of Rs. 1181.53 crore as on 1/04/2011, the Bank has amortized Rs. 239.98 crore for Pension and Rs. 55.40 crore for Gratuity being proportionate amount for the year ended March 31, 2012.

5. The Balance Sheet and the Profit and Loss Account have been drawn up in Form 'A' and 'B' respectively of the Third Schedule to the Banking Regulation Act, 1949.

6. Subject to the limitations of the audit indicated in paragraph 1 above and as required by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and also subject to the limitations of disclosure required therein, we report that

a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit and have found the same to be satisfactory.

b) The transactions of the Bank, which have come to our notice, have been within the powers of the Bank.

c) The returns received from the Offices and Branches of the Bank as supplemented with the information furnished by the Management, have been found adequate for the purpose of our audit.

7. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement comply with the applicable accounting standards.

8. In our opinion, as shown by the Books of the Bank, and to the best of our information and according to the explanations given to us

a. The Balance Sheet read with the Significant Accounting Policies and Notes thereon, is a full and fair Balance Sheet containing all the necessary particulars and is properly drawn up so as to exhibit a true and fair view of the state of affairs of the Bank as at 31st March, 2012 in conformity with accounting principles generally accepted in India.

b. The Profit and Loss Account read with Significant Accounting Policies and Notes thereon shows a true balance of Profit for the year ended on that date in conformity with accounting principles generally accepted in India and

c. The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

For M/s. SAGAR & ASSOCIATES For M/s. GSA AND ASSOCIATES For M/s. D. RANGASWAMY & CO.

CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R.N0.-003510S F.R.NO.-000257N F.R.NO.-003073S

(CA B. ARUNA ) (CA SUNIL AGGARWAL ) (CA ANUSHA SREENIVASAN)

PARTNER PARTNER PARTNER

M. NO.216454 M. NO.083899 M. NO.204567



For M/s. K.S. AIYAR & CO. For M/s. GHIYA & CO. For M/s. SAMSAND & ASSOCIATES

CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS

F.R.NO.-100186W F.R.NO.-001088C F.R.NO.-003708N

(CA SATISH K. KELKAR )(CA G.P. GUPTA) (CA MILAN SHRIMALI )

PARTNER PARTNER PARTNER

M. NO.038934 M. NO.075000 M. NO.088578

Place : Mumbai

Date : May 8, 2012


Mar 31, 2010

This Audit Report of Central Bank of India is in supercession of our earlier Audit Report for the year ended 31st march 2010 dated 2nd May 2010. This fresh Audit Report is necessitated due to the change in the Financial Statements, as a result of the increase in proposed dividend from 20% to 22% of the paid up equity share capital of the bank.

1. We have audited the attached Balance Sheet of Central Bank of India as at March 31, 2010 and also the Profit and Loss Account and Cash Flow Statement annexed thereto for the year ended on that date in which are incorporated the returns of 20 Branches, 16 Zonal Offices and 28 Regional Offices audited by us, 2876 Branches, 20 Non-Business Offices and 9 CMS Branches audited by branch auditors. Also incorporated in the Balance Sheet and Profit and Loss account are the returns of 681 Branches and 50 Regional Offices which have not been subjected to audit. The unaudited branches account for 1.91 per cent of advances, 4.26 per cent of deposits, 0.82 per cent of interest income and 3.76 per cent of interest expense. The Branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued to the Bank by the Reserve Bank of India. These financial statements are the responsibility of the Banks management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. The Balance Sheet and the Profit and Loss Account have been drawn up in Form A and B respectively of the Third Schedule to the Banking Regulation Act, 1949.

4. Subject to the limitations of the audit indicated in Para 1 above and as required by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and subject also to the limitations of disclosure required therein, we report that:

a. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit and have found them to be satisfactory.

b. The transactions of the Bank, which have come to our notice, have been within the powers of the Bank.

c. The returns received from the offices and branches of the Bank as supplemented with the information furnished by the management, have been found adequate for the purpose of our audit.

5. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow statement comply with the applicable Accounting Standards.

6. In our opinion as shown by the books of the Bank and to the best of our information and according to the explanations given to us:

i) The Balance Sheet, read with the notes thereon, is a full and fair Balance Sheet containing the necessary particulars, and is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at March 31,2010, in conformity with Accounting Principles generally accepted in India; ii) The Profit and Loss Account, read with the notes thereon, shows a true balance of Profit in conformity with the Accounting Principles generally accepted in India, for the year covered by the Account; and

iii) The Cash Flow Statement gives a true and fair view of the Cash Flows for the year ended on that date.

For M/s. Bhushan Bensal For M/s. P. G. Bhagwat For M/s. Joseph Jain Assosiated & Rajaram Chartered Accountants Chartered Accountants Chartered Accountants F.R.NO.-003884N F.R.NO.-101118W F.R.NO.-001375S (CA Deepak Kumar Jain) (CA S. S. Athavale) (CA Thomas Philip) Partner Partner Partner M.No. 96980 M.No. 83374 M.No. 25844

For M/s. Ummed Jain & Co. For M/s. G.S.A. and Associates For M/s. Sagar & Associates Chartered Accountants Chartered Accountants Chartered Accountants F.R.NO.-119250W F.R.NO.-00257N F.R.NO. -003510S (CA U. M. Jain) (CA Sunil Aggarwal) (CA Vidyasagar Babu) Partner Partner Partner M.No.70863 M.No.83899 M.No.27357

Place: Mumbai Date: May 22,2010

 
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