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Auditor Report of Indian Overseas Bank

Mar 31, 2015

1. We have audited the accompanying financial statements of Indian Overseas Bank as at 31.3.2015, which comprise the Balance Sheet as at 31.3.2015, and Profit and Loss Account and the 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 audited by us and 1928 branches including 8 overseas branches audited by branch auditors. 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. Also incorporated in the Balance Sheet and the Statement of Profit and Loss are the returns from 1456 branches and 59 Regional Offices which have not been subjected to audit. These unaudited branches account for 5.35% of advances, 16.14% of deposits, 15.85% of interest income and 14.91% of interest expenses.

Management''s Responsibility for the Financial Statements

2. Management is responsible for the preparation of these financial statements in accordance with Banking Regulations Act 1949. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the financial statements that are free from material misstatement, 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 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. 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 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 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 31.3.2015 in conformity with accounting principles generally accepted in India;

(ii) t he Profit and Loss Account, read with the notes thereon shows a true balance of loss 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.

7. Emphasis of Matter

a) We draw attention to Note No.8 regarding amortization of pension and gratuity liability of Rs. 1005.21 crore over a period of 5 years from 31.3.2011.

b) We draw attention to Note No 3.5 regarding utilization of floating provision and counter cyclical provisioning buffer held as on 31.12.2014 for meeting specific provision for non performing assets during the year ended 31.3.2015 amounting to Rs. 150 crores (Previous year Rs. 324.20 crore).

Our opinion is not qualified in respect of the above.

Report on Other Legal and Regulatory Requirements

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

9. Subject to the limitations of the audit indicated in paragraph 1 to 5 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 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 have been found adequate for the purpose of our audit.

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

Instructions to shareholders: Most Urgent and Immediate

1. The Shareholders who have not received/encashed the dividend from financial year 2007-08, are requested to send their claim along with details of Folio No.(s) to Registrar & Share Transfer Agent, M/s Cameo Corporate Services Ltd, (Unit-IOB), Subramanian Building, V Floor, No 1 Club House Road, Chennai 600 002 or to Investor Relations Cell, Indian Overseas Bank, Central Office,763 Anna Salai, Chennai 600 002.

2. Shareholders are also requested to send their claims, if any, in case of non receipt of refund orders in respect of our Public Issue 2000 and Follow on Public Issue 2003 along with Application Number to Investor Relations Cell, Indian Overseas Bank, Central Office,763, Anna Salai, Chennai-600 002.

3. The shareholders, who are holding shares In electronic form have to approach only the DP concerned and not the Registrar for any change in the mandated particulars like change of address, Bank Account, etc

4. Consolidation of Folios: It has been found that many shareholders maintain more than one folio (ie.) multiple folios. In order to provide efficient service to shareholders, we request the shareholders to consolidate the folios by forwarding their share certificates to our Registrar and Share Transfer Agent for necessary corrections in their records.

For P.R.MEHRA & Co For DASS KHANNA & Co For VARDHAMAN & CO

Chartered Accountants Chartered Accountants Chartered Accountants

FRN 000051N FRN 000402N FRN 004522S

(RAMESH CHAND GOYAL) (RAKESH SONI) (ABHA JAIN)

Partner Partner Partner

M.No.012628 M.No.083142 M.No.015454

For ASA & ASSOCIATES LLP For A V DEVEN & CO

Chartered Accountants Chartered Accountants

FRN 009571N / N500006 FRN 000726S

(J. SIVASANKARAN) (A VASUDEVEN)

Partner Partner

M.No.022103 M.No.023882

Place : Chennai Date : 08.05.2015


Mar 31, 2013

1. We have audited the accompanying financial statements of Indian Overseas Bank as at 31st March, 2013, which comprise the Balance Sheet as at March 31, 2013, and Profit and Loss Account and the 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 audited by us and 1320 branches including 6 overseas branches audited by branch auditors. 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. Also incorporated in the Balance Sheet and the Statement of Profit and Loss are the returns from 1628 branches which have not been subjected to audit. These unaudited branches account for 12.71 per cent of advances, 22.64 per cent of deposits, 12.63 per cent of interest income and 11.24 per cent of interest expenses.

Management''s Responsibility for the Financial Statements

2. Management is responsible for the preparation of these financial statements in accordance with Banking Regulations Act 1949. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the financial statements that are free from material misstatement, 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 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. 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 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 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 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.

Emphasis of Matter

7. We draw attention to :

a) Note No.8 regarding amortization of pension and gratuity liability of Rs. 1005.21 crore over a period of 5 years from 31.3.2011.

b) Note No. 3.6 regarding partial write off of secured portion of certain doubtful advances Our opinion is not qualified in respect of the above.

Report on Other Legal and Regulatory Requirements

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

9. Subject to the limitations of the audit indicated in paragraph 1 to 5 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 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 have been found adequate for the purpose of our audit except for return of Singapore branch relating to security wise assets classification of the loans outstanding of Rs.8656.61 crore (secured by tangible assets Rs.3881.39 crore, covered by Bank Guarantee Rs.2346.20 crore and unsecured Rs.2429.02 crore) which was not certified by the Statutory Branch Auditor. We have relied upon this return as certified by branch management and internal auditor.

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

For S R Mohan & Co For Badari, Madusudhan For B Thiagarajan & Co

Chartered Accountants & Srinivasan Chartered Accountants

FRN 002111S Chartered Accountants FRN 004371S

FRN 05389S

(G.JAGADESWARA RAO) (N.K.MADHUSUDHAN) (B.THIAGARAJAN)

Partner Partner Partner

M. No.021361 M.No.020378 M.No.18270

For Sankar & Moorthy For P R Mehra & Co. For Dass Khanna & Co

Chartered Accountants Chartered Accountants Chartered Accountants

FRN 003575S FRN 000051N FRN 000402N

(A.MONY) (ASHOK MALHOTRA) (RAKESH SONI)

Partner Partner Partner

M. No. 028519 M No.082648 M.No.083142

Place: Chennai

Date: 29.04.2013


Mar 31, 2012

1. We have audited the attached Balance Sheet of Indian Overseas Bank 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 and 45 Regional Offices audited by us and 1764 branches including 6 Overseas Branches audited by other auditors. The branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued by the Reserve Bank of India. Also incorporated in the Balance Sheet and Profit & Loss Account are the returns of 878 branches which have not been subjected to audit. Such unaudited branches account for 2.05 % of advances, 7.20 % of deposits, 3.07 % of interest income and 3.05% of interest expenses. These financial statements are the responsibility of the Bank's Management. Our responsibility is to express an opinion 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 of material mis-statements. An audit includes examination on a test basis, evidence supporting the amounts and disclosure 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 financial statements 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 Forms "A" and "B" respectively of the Third Schedule to the Banking Regulation Act, 1949.

4. The additional disclosures made in Note No.14.2,15,16 and 17 to the Notes on Accounts (Schedule 18) with regard to information in respect of Restructured Accounts, Business Ratios, Maturity Pattern of Assets and Liabilities and Exposure to Sensitive Sectors, respectively are based on the records/information as certified by the Bank and relied upon by us.

5. As required by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and subject to the limitation of the audit indicated in Paragraph 1 above and also to the limitation of disclosure required therein we report as under:

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 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 have been found adequate for the purpose of our audit;

d) In our opinion and to the best of our information and according to the explanations given to us and as shown by the books of the Bank maintained in accordance with the generally accepted Accounting Principles in India:

i) The Balance Sheet read with Significant Accounting Policies and Notes thereon is a full and fair Balance Sheet containing all the particulars and is properly drawn up so as to exhibit a true and fair view of the affairs of the Bank as at 31st March 2012;

ii) The Profit and Loss Account read with Significant Accounting Polices and Notes thereon shows a true balance of Profit for the year ended on that date; and

iii) The Cash Flow Statement read with Notes thereon shows a true and fair view of the cash flow for the year ended on that date.

6. Without qualifying our opinion, we draw attention to:

a) Note No.7.2 regarding tax expenses for the year after reversal of excess provision of Rs.234.12 crore provided in the earlier years;

b) Note No.9 regarding accounting treatment of pension and gratuity liability;

c) Note No.19.2.2 regarding reversal of provision of sick leave of Rs.119.00 crore made in the earlier year.

1. The Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006, which has come into force on 16 10 2006 has inserted a new section 10(B) in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 which provides as under :

- Within 7 days from the expiry of 30 days from the date of declaration, if any shareholder has not encashed/ claimed the dividend, such amounts lying in the bank Dividend current account, shall be transferred to a separate account styled "Unpaid Dividend Account of IOB for the year_"

- Any money transferred to the Unpaid Dividend account which remains unpaid or unclaimed for a period of seven years from the date of such transfer, shall be transferred to the Investor Education and Protection Fund (IEPF)established under section 205(1)(C) of the Companies Act, 1956.

Hence the Shareholders who have not received/ encashed the dividend for financial years 2000-01, 2001-02, 2002-03 Interim/Final Dividend 2003-04, Interim Final Dividend 2004-05, 2005-06, 2006-07, 2007-08, 2008-09, 2009-10 and for the year 2010-11 are requested to send their claim along with details of Folio No.(s) to Investor Relations Cell, Indian Overseas Bank, Central Office, 763 Anna Salai, Chennai 600 002.

2. Shareholders are also requested to send their claims, if any, in case of non receipt of refund orders in respect of our Public Issue 2000 and Follow on Public Issue 2003 along with Application Number to Investor Relations Cell, Indian Overseas Bank, Central Office,763, Anna Salai, Chennai-600 002.

3. The shareholders, who are holding shares in electronic form have to approach only the DP concerned and not the Registrar for any change in the mandated particulars like change of address, Bank Account, etc.,. Please note that the Registrar would send the dividend warrant (or credit to the mandated account in the case of shareholders who have opted for ECS credit) based on the particulars furnished by DP to the Registrar as on 22.06.2012.

4. Consolidation of Folios : It has been found that many shareholders maintain more than one folio (i.e.) multiple folios. In order to provide efficient service to shareholders, we request the shareholders to consolidate the folios by forwarding their share certificates to our Registrar and Share Transfer Agent for necessary corrections in their records.

M.BHASKARA RAO & CO MITTAL GUPTA & CO S.R.MOHAN & CO,

FRN 000459S FRN 001874C FRN 002111S

K.R.RATNAM AKSHAY K. GUPTA B.HARI BABU

Partner Partner Partner

M.No.002316 M.No.070744 M.No.022206

BADARI, MADHUSUDHAN & SRINIVASAN B. THIAGARAJAN & CO SANKAR & MOORTHY

FRN 005389S FRN 004371S FRN 003575S

N.SRINIVASAN B.THIAGARAJAN S.SURESH

Partner Partner Partner

M.No.027887 M.No.018270 M.No.203716

Place : Chennai

Date : 5.5.2012


Mar 31, 2011

1. We have audited the attached Balance Sheet of Indian Overseas Bank as at 31st March 2011, the Profit and Loss Account and Cash Flows Statement of the Bank for the year ended 31st March 2011 annexed thereto in which are incorporated the returns of 20 branches and 43 Regional Offices audited by us and 1786 branches including 6 Overseas Branches audited by other auditors. The branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued by Reserve Bank of India. Also incorporated in the Balance Sheet and Profit & Loss Account are the returns from 407 branches / centres which have not been subjected to audit. These unaudited branches account for 0.58 % of advances, 2.98 % of deposits, 1.62 % of interest income and 1.34% of interest expenses. These financial statements are the responsibility of the Banks Management. Our responsibility is to express an opinion 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 of material mis-statements. An audit includes examination on a test basis, evidence supporting the amounts and disclosure 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 financial statements 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 Forms "A" and "B" respectively of the Third Schedule to the Banking Regulation Act, 1949.

4. The additional disclosures made in Note No. 4.2, 5, 6 and 7 to the Notes on Accounts (Schedule 18) with regard to information in respect of Restructured Accounts, Business Ratios, Maturity Pattern of Assets and Liabilities and Exposure to Sensitive Sectors,

respectively are based on the records/information as certified by the Bank and relied upon by us.

5. As required by the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 and subject to the limitation of the audit indicated in Paragraph 1 above and also to the limitation of disclosure required therein we report as under:

a) In our opinion and to the best of our information and according to the explanations given to us and as shown by the books of the Bank maintained in accordance with generally accepted Accounting Principles in India.

i) The Balance Sheet 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 the affairs of the Bank as at 31st March 2011;

ii) The Profit and Loss Account shows a true balance of Profit for the year ended 31st March 2011 and

iii) The Cash Flows Statement gives a true and fair view of the cash flow for the year ended 31st March 2011.

b) 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 the same to be satisfactory.

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

d) The returns received from the offices and branches of the Bank have been found adequate for the purpose of our audit.

6. Without qualifying our opinion, we draw attention to:

a) Note No 9 to the Financial Statements regarding the write off of Rs.82.17 crore during the year (previous year Rs.82.17 crore) being one third of the deficit arising on the take over of the specific assets and liabilities of a bank in the previous year amounting to Rs.246.52 crore

b) And carry over of balance of Rs.82.17 crore to next year as against the writing off the entire deficit in that year; and

c) Note No.10 to the Financial Statements, which describes deferment of pension and gratuity liability of the Bank to the extent of Rs.804.17 crore pursuant to the exemption granted by Reserve Bank of India to the Public Sector Banks from the application of the Provisions of Accounting Standard (AS) 15, Employee Benefits vide its Circular No.DBOD.BP.BC/80/21.04.018/2010-11 on Reopening of Pension Option to Employees of Public Sector Banks and Enhancement of Gratuity Limits - Prudential Regulatory Treatment.

For Varma & Varma For PKF Sridhar & Santhanam For Bhaskaran & Chartered Accountants Chartered Accountants Ramesh FRN 004532s FRN 003990s Chartered Accountants FRN 000462S

(K.M.SUKUMARAN) (S.RAJESHWARI) (A.BHASKARAN) Partner Partner Partner M.No.015707 M.No.024105 M.No.021948



For M Bhaskara Rao & Co For Mittal Gupta & Co For S R Mohan & Co Chartered Accountants Chartered Accountants Chartered Accountants FRN000459S FRN001874C FRN 002111S



(K.R.RATNAM) (AKSHAY K GUPTA) (KODANDA RAMAGUPTA T.N.) Partner Partner Partner M. No.002316 M.No.070744 M.No.018868



Place: Chennai Date: 02.05.2011


Mar 31, 2010

1. We have audited the attached Balance Sheet of Indian Overseas Bank as at 31st March 2010, the Profit and Loss Account and Cash Flows Statement of the Bank for the year ended 31s March 2010 annexed thereto in which are incorporated the returns of 20 branches and 41 Regional Offices audited by us and 1705 branches including 6 Overseas Branches audited by other auditors. The branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued by Reserve Bank of India. Also incorporated in the Balance Sheet and Profit & Loss Account are the returns from 305 branches / centres which have not been subjected to audit. These unaudited branches account for 1.35 % of advances, 4.99 % of deposits, 2.19% of interest income and 2.35% of interest expenses. These financial statements are the responsibility of the Banks Management. Our responsibility is to express an opinion 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 of material mis- statements. An audit includes examination on a test basis, evidence supporting the amounts and disclosure 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 financial statements 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 Forms "A" and "B" respectively of the Third Schedule to the Banking Regulation Act, 1949.

4. Reference is invited to

i) Significant Accounting Policy No.2.2 and 2.5 (Schedule - 17) regarding revenue recognition which are not in conformity with Accounting Standard - 9 issued by the Institute of Chartered Accountants of India.

ii) Note No.3.2 in Notes on Accounts (Schedule - 18) regarding recoverablility of claims pending and / or yet to be lodged with Guarantee Institutions.

The impact of the items stated herein above on the Profit & Loss Account, Balance Sheet, Capital Adequacy Ratio and business ratios as stated in Notes on Accounts (Schedule-18) is not ascertainable.

5. The additional disclosures made in Note No.4.2, 5, 6,7, 8.7 and 10.1 to the Notes on Accounts (Schedule 18) with regard to information in respect of Restructured Accounts, Business Ratios, Maturity Pattern of Assets and Liabilities, Exposure to Sensitive Sectors, Unsecured Advances and Concentration of Deposits, Advances, Exposures and NPAs respectively are based on the records / information as certified by the Bank and relied upon by us.

6. As required by the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 and subject to

i) the limitation of the audit indicated in Paragraph 1 above, and the limitation of disclosure required therein

ii) our observations in Paragraph 4 & 5 above, and

iii) Note No. 11 in Notes on Accounts (Schedule 18) regarding the write off of a sum of Rs 8217 Crores being one third of the deficit arising on the takeover of the specific assets and liabilities of a bank - as permitted by Reserve Bank of India - as against writing off the entire deficit of Rs 246.52 Crores as is the Generally Accepted Accounting Practice.

we report as under :

a) In our opinion and to the best of our information and according to the explanations given to us and as shown by the books of the Bank maintained in accordance with generally accepted Accounting Principles in India.

i) The Balance Sheet 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 the affairs of the Bank as at 31sMarch 2010.

ii) The Profit and Loss Account shows a true balance of Profit for the year ended 31st March 2010 and

iii) The Cash Flows Statement gives a true and fair view of the cash flow for the year ended 31s March 2010.

b) 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 the same to be satisfactory.

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

d) The returns received from the offices and branches of the Bank have been found adequate for the purpose of our audit.

For Om Agarwa l & Co For Varma & Varma For PKF Sridhar & Santaam Chartered Accountants Chartered Accountants Chartered Accountants

P.GUPTA) (K.M.SUKUMARAN) (TVBAUSUBRAAMNWN) Partner Partner Partner M.No. 072936 M.No.015707 M.No.027251 FRN000971C FRN004532S FRN003990S For Bhaskaran & Ramesh For M Bhaskara Rao & Co For Mittal Gupta & Co Chartered Accountants Chartered Accountants Chartered Accountants (J.RANGMRAWN) (PRATNAM) (B.LGUPTA) Partner Partner Partner M.No.024327 M.No.002316 M.No.073794 FRN000462S FRN000459S FRN001874C

Place: Chennai Date : 29.04.2010

 
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