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Central Bank of India.

BSE: 532885 Sector: Financials
NSE: CENTRALBK ISIN Code: INE483A01010
BSE LIVE 15:40 | 23 Jun 87.55 -5.20
(-5.61%)
OPEN

93.75

HIGH

93.75

LOW

85.90

NSE 15:59 | 23 Jun 87.95 -4.40
(-4.76%)
OPEN

92.50

HIGH

92.90

LOW

86.50

OPEN 93.75
PREVIOUS CLOSE 92.75
VOLUME 52617
52-Week high 125.00
52-Week low 76.35
P/E
Mkt Cap.(Rs cr) 16,654
Buy Price 0.00
Buy Qty 0.00
Sell Price 87.00
Sell Qty 23.00
OPEN 93.75
CLOSE 92.75
VOLUME 52617
52-Week high 125.00
52-Week low 76.35
P/E
Mkt Cap.(Rs cr) 16,654
Buy Price 0.00
Buy Qty 0.00
Sell Price 87.00
Sell Qty 23.00

Central Bank of India. (CENTRALBK) - Auditors Report

Company auditors report

To

The President of India

Report On The Financial Statements

1. We have audited the accompanying financial statements of Central Bank of India as atMarch 31 2015 which comprise the Balance Sheet as at March 31 2015 and Profit and LossAccount and Cash Flow Statement for the year then ended and a summary of significantAccounting Policies and other explanatory information. Incorporated in these financialstatements are the returns of 20Branches 37 Regional Offices audited by us out of a totalof 4689 branches 80 Regional branches audited by other branch auditors. Also incorporatedin the Balance Sheet and Profit and Loss Officesand Account are the returns of 2850branches 43 Regional Offices which have not been subjected to audit. The unauditedbranches account for 9.97% of advances 30.75% of deposits 6.69% of interest income and24.37% of interest expense. The branches audited by us and those audited by other auditorshave been selected by Bank in accordance with the guidelines issued by the Reserve Bank ofIndia.

Management’s Responsibility for the Financial Statements

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

Auditor’s Responsibility

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

4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statement. The procedures selected depend on theauditor’s judgement including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Bank’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the bank’s internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements.

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

Opinion

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

i. The Balance Sheet read withtheSignificantAccounting Policies and Notes thereon is afull and fair Balance Sheet containing all the necessary particulars is properly drawn upso as to exhibit a true and fair view of state of affairs of the Bank as at March 312015 in conformity with accounting principles generally accepted in India.

ii. The Profit and Loss Account read withtheSignificantAccounting Policies and Notesthereon shows a true balance of Profit in conformity with accounting principles generallyaccepted 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 yearended 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 BankingRegulation Act 1949.

8. Subject to the limitations of the audit indicated in paragraphs 1 to 5 above and asrequired by the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970and 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 ourknowledge and belief were necessary for the purposes of our audit and have found them tobe satisfactory.

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

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

9. In our opinion the Balance Sheet Profit and Loss Account and Cash Flow Statementcomply 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