bf infrastructure ventures ltd Auditors report

AUDITORS

TO THE MEMBERS OF

BF Infrastructure Ventures Limited

1. We have audited the attached Balance Sheet of BF Infrastructure Ventures Limited. (The Company), as at 31^st March, 2012 and also Statement of Profit and Loss account of the Company for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company’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 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 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 management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors’ Report) order, 2003, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, report not attached as the said order is not applicable to the company.

4. Further to our comments in the Annexure referred to above, 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 purposes of our audit:

ii. In our opinion, proper books of accounts as required by law have been kept by the Company so far as appears from our examination of those books.

iii. The Balance Sheet and Statement of Profit and Loss Account dealt with by this report are in agreement with the books of account.

iv. In our opinion, the Balance Sheet and Statement of Profit and Loss Account dealt with by this report comply with the accounting standards referred to in Sub-Section (3C) of section 211 of Companies Act, 1956.

v. On the basis of the written representations received from the directors of the company as on 31^st March 2012 and taken on record by the Board of Directors, We report that none of the Directors is disqualified as on March 31, 2012 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

vi. In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with notes thereon give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a. In the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2012.

b. In the case of the Statement of Profit & Loss Account, of the Loss for the year ended on that date; and

	For: RMA & ASSOICIATES
	Chartered Accountants
	FRN: 000978N
Place: New Delhi
Date: 12.04.2012
	(PANKAJ CHANDER)
	Partner
	Membership No.: 089065