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-3.05 (-3.27%)
-3.25 (-3.48%) | Auditor's Report (Dena Bank) | Year End : Mar '12 |
1. We have audited the attached Balance Sheet of Dena Bank as at 31st
March, 2012, and also 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 21 Regional Offices audited
by us and 777 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 by the Reserve Bank of
India. Also incorporated in the Balance Sheet and the Profit & Loss
Account are the returns from 449 branches which have not being
subjected to audit. These unaudited branches account for 4.27% of
advances, 15.84 % of deposits, 2.59 % of interest income and 13.76 % of
interest expenses. These financial statements are the responsibility of
the Bank''s Management. Our responsibility is to express our opinion on
these financial statements based on our audit.
2. We conducted our audit in accordance with the auditing standards
generally accepted in India. These standards require that we plan and
perform the audit to obtain reasonable assurance as to 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 the 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 Forms ''''A'''' and B respectively of the Third Schedule to the
Banking Regulation Act, 1949.
4. 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 subject also to the limitations
of disclosure required therein, we report that: -
(i) 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.
(ii) The transactions of the Bank, which have come to our notice, have
been within the powers of the Bank.
(iii) The returns received from the offices and branches of the Bank
have generally been found adequate for the purpose of our audit.
5. In our opinion, as shown by books of 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 the Notes thereon is a full and fair Balance Sheet containing the
necessary particulars and it is properly drawn up so as to exhibit a
true and fair view of 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 the Significant Accounting
Policies and the Notes thereon shows a true balance of profit, in
conformity with accounting principles generally accepted in India, for
the year ended covered by the account; and
(c) the Cash Flow Statement gives the true and fair view of the cash
flows for the year ended on that date.
For B
K Khare For Gandhi
Minocha For P K
Chopra & For S N
Dhawan For
Avanish K For S C
Bapna &
& Co. & Co. Co. & Co. Rastogi &
Associates. Associates.
Chartered
Accoun
tants Chartered
Accountants Chartered
Accountants Chartered
Accountants Chartered
Accountants Chartered
Accountants
Devdatta
Mainkar Bhupinder
Singh K S
Ponnuswami Suresh
Seth Avanish K
Rastogi Jai
Prakash
Gupta
Partner Partner Partner Partner Partner Partner
M No
109795 M No 092867 M No 070276 M No 010577 M No 072506 M No 088903
Place: Mumbai
Date : 08.05.2012 |
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| Source : Dion Global Solutions Limited | |
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