GAMMON INDIA LIMITED

5. We have estimated and checked the efficiency of the Company
administration and accounting systems and also we have assessed its
reliability to correctly represent the management activities by collecting
information and attending meetings with the Managers of the
administration and accounting departments and there are no
particular remarks to be reported;
6. We are constantly in contact with the Accounting Company
Constantin Rediva S.r.l., in charge for the auditing and there are no
particular facts or information to be mentioned in this report;
7. As regards the financial statements as of December 31st, 2008,
prepared in compliance with the main accounting principles, we make
the following remarks :
- We have checked the structure of the Financial Statements, its
compliance with what provided by law in relation to its form and
characteristics and there are no particular notes to be made;
- We have checked that the Board of Directors’ Report has been
prepared in compliance with what provided by law and in this
respect there are no remarks to be reported;
- We have checked that the Financial Statements are according to
facts and information in our knowledge following the fulfilment of
our tasks and there are no particular remarks to be reported.
Taking into consideration the results of the activities performed by the
auditing company, results which are indicated in the Financial Statements
Report, we propose to the Shareholders to approve the Financial Statements
as of December 31 st , 2008 as for the resolution proposal submitted by the
Board of Directors.
Milano, April 20th, 2009
THE STATUTORY AUDITORS
Nicoletta Morrione Giulio Broggini Ciro Grassia
F
70