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Central Bank of India.

BSE: 532885 Sector: Financials
NSE: CENTRALBK ISIN Code: INE483A01010
BSE 00:00 | 14 Aug 68.70 0.90
(1.33%)
OPEN

68.25

HIGH

69.40

LOW

67.80

NSE 00:00 | 14 Aug 68.95 1.15
(1.70%)
OPEN

67.10

HIGH

69.50

LOW

67.10

OPEN 68.25
PREVIOUS CLOSE 67.80
VOLUME 12708
52-Week high 103.80
52-Week low 62.00
P/E
Mkt Cap.(Rs cr) 17,987
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 68.25
CLOSE 67.80
VOLUME 12708
52-Week high 103.80
52-Week low 62.00
P/E
Mkt Cap.(Rs cr) 17,987
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Central Bank of India. (CENTRALBK) - Auditors Report

Company auditors report

To

The Members of Central Bank of India

Report on the Standalone Financial Statements

1. We have audited the accompanying Standalone Financial Statements of Central Bank ofIndia (the "Bank") as at March 31 2018 which comprise the Balance Sheet as atMarch 31 2018 and the Profit and Loss Account and the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies notes and other explanatoryinformation. Incorporated in these Standalone Financial Statements are the returns of 20Branches audited by us and 2400 branches audited by Statutory Branch Auditors. Thebranches audited by us and those audited by other auditors have been selected by Bank inaccordance with the guidelines issued to the Bank by the Reserve Bank of India. Alsoincorporated in the Balance Sheet and Profit and Loss Account are the returns of 2265branches which have not been subjected to audit. These unaudited branches account for9.94 per cent of advances 21.67 per cent of deposits 5.16 per cent of interest incomeand 19.09 per cent of interest expense.

Management's Responsibility for the Financial Statements

2. The Bank's Management is responsible for the preparation of these StandaloneFinancial Statements in accordance with Banking Regulation Act 1949 Reserve Bank ofIndia Guidelines and circulars issued from time to time and accounting standards generallyaccepted in India. This responsibility of the management includes the designimplementation and maintenance of internal control relevant to the preparation andpresentation of the Standalone Financial Statements that are free from materialmisstatements whether due to fraud or error.

Auditors' Responsibility

3. Our responsibility is to express an opinion on these Standalone Financial Statementsbased on our audit. We conducted our audit in accordance with the Standards on Auditingissued by the Institute of Chartered Accountants of India. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance as to whether the Standalone Financial Statements are free from materialmisstatement.

4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the Standalone Financial Statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe Standalone Financial Statements whether due to fraud or error. In making those riskassessments the auditor considers internal control relevant to the Bank's preparation andfair presentation of the Standalone Financial Statements in order to design auditprocedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on the effectiveness of the bank's internal control. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Management as well as evaluating the overallpresentation of the Standalone Financial Statements.

5. We believe that the audit evidence that we have obtained is sufficient andappropriate to provide 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:

a) the Balance Sheet read with significant accounting policies and the notes thereonis full and fair Balance Sheet containing all the necessary particulars is properly drawnup so as to exhibit a true and fair view of state of affairs of the Bank as at March 312018 in conformity with accounting principles generally accepted in India;

b) the Profit and Loss Account read with significant accounting policies and the notesthereon shows a true balance of loss in conformity with accounting principles generallyaccepted in India for the year covered by the account; and

c) the Cash Flow Statement gives 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 accordancewith Section 29 of the Banking Regulation Act 1949;

8. Subject to the limitations of the audit indicated in paragraph 1 to 5 above and asrequired by the Banking Companies(Acquisition & Transfer of Undertakings) Act1970/1980 and also subject to the limitations of disclosures requiredtherein we reportthat:

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 which have come to our notice have been within the powers of theBank; and

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

9. We further report that:

a) the Balance Sheet and Profit and Loss Account dealt with by this report are inagreement with the books of account and returns;

b) the reports on the accounts of the branch offices audited by branch auditors of thebank under section 29 of the Banking Regulation Act 1949 have been sent to us and havebeen properly dealt with by us in preparing this report;

c) In our opinion the Balance Sheet Profit and Loss Account and Cash Flow Statementcomply with the applicable Accounting Standards.

For LODHA & CO. For PATHAK H D & ASSOCIATES
CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS
F.R.No.301051E F.R.No.107783W
(CA GAURAV LODHA) (CA B.P. CHATURVEDI)
PARTNER PARTNER
M.No.507462 M.No.015585
For S. K. MEHTA & CO. For BORKAR & MUZUMDAR
CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS
F.R. No.000478N F.R. No. 101569W
(CA JYOTI BAGGA) (CA B. M. AGARWAL)
PARTNER PARTNER
M.No.087002 M.No.033254
Place Delhi
Date: May 17 2018