tata power green energy ltd Auditors report

INDEPENDENT AUDITORS

TO THE MEMBERS OF TATA POWER GREEN ENERGY LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of TATA POWER GREEN ENERGY LIMITED ("the Company") which comprise the Balance Sheet as at 31st March , 2013, the Statement . of Profit and Loss and the Cash Plow Statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

Managements Responsibility for the Financial-Statements

The Companys Management is responsible for (he preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956 ("the Act") and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that-give a true and fair- view and are free from material misstatement, whether due to fraud or error.

Auditors Responsibility

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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the -financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditors judgment, 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 Companys preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a the and fail view in conformity with the accounting principles generally accepted in India:

(a) the case of the Balance Sheet, of the state of affairs of the Company as at 31^st March, 2013;

(b) in the case of the Statement of Profit and Loss, of the loss of (he Company for the year ended on that date and

(c) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2003 ("the Order") issued by the Central Government in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order,

2. As required by Section 227(3) of the Act, 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.

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211(3C) of the Act.

(e) On the basis of the written representations received from the directors as on 31^st March, 2013 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2013 from being appointed as a director in terms of Section 274(l)(g)of the Act.

	For DBLOITTE HASKINS & SELLS
	Chartered Accountants
	(Finn Registration No. 11736~6W)
	R.A.MNGA
	Partner
MUMBAI 24th April, 2013	(Membership No. 37915)

ANNEXURE TO THE INDEPENDENT AUDITORS REPORT

(Referred fo in paragraph 1 under Report on Other Legal and Regulatory Requirements section of our report of even date)

Having regard to the nature of the Companys business/activities/results during the year, clauses (i), (ii), (iv), (vi), (vii), (viii), (x), (xi), (xii), (xiii), (xiv), (xv), (xvi), (xvii), (xviii), (xix) and (xx) of paragraph 4 of the Order are not applicable.

(i) According to the formation and explanations given to us, the Company has neither granted nor taken any loans secured or unsecured, to or from Companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

() According to the information and explanations given to us, the Company has not entered into any contracts or arrangement with parties, which needs to be entered in the Register maintained under Section 301 of the Companies Act, 1956.

(iii) According to information and explanations given to us in respect of Statutory dues,

(a) The Company has been regular in depositing undisputed dues, including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income-tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duly, Cess and other material statutory dues applicable fo it with the appropriate authorities,

(b) There were no undisputed amounts payable in respect of Income-tax, Sales tax, Wealth Tax, Customs Duty, Excise Duty, Cess and other material statutory dues in arrears as at 31^st March, 203 3 for a period of more than six months from the date of they became payable.

(c) According to information and explanation given to us, there are no unpaid disputed amounts payable in respect of Income-tax, Wealth Tax, Sales Tax, Service Tax, Customs Duty and Cess, as at 31^st March, 2013.

(iv) To the best of our knowledge and according to the hiformation and explanations given to us, no fraud by the Company and no fraud on the Company has been noticed or reported during the year.

	For DELOHTB HASKINS & SELLS
	Chartered Accountants
	(Registration No. 117366W)
	R. A. BANGA
	Partner
MUMBAI, 24th April, 2013	(Membership No. 37915)