Annual Report for Fixed Maturity Schemes - Tata Mutual Fund

Annual Report
2011-2012
AUDITORS’ REPORT
TO THE BOARD OF DIRECTORS OF
TATA TRUSTEE COMPANY LIMITED
TATA MUTUAL FUND - TATA FIXED MATURITY PLAN – SERIES 39 SCHEME F
We have audited the attached Balance Sheet of Tata Mutual Fund – Tata Fixed Maturity Plan – Series 39 Scheme F (the “Scheme”) as at March
31, 2012 and the related Revenue Account for the period from March 9, 2012 (Date of Commencement) to March 31, 2012 annexed thereto.
These financial statements are the responsibility of the Managements of Tata Trustee Company Limited (the “Trustee Company”) and the Tata
Asset Management Limited (the “Investment Manager”). Our responsibility is to express an opinion on the financial statements. We report as
follows:
a) Our audit was conducted in accordance with generally accepted auditing standards 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 the Management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.
b) 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.
c) The Balance Sheet and the Revenue Account dealt with by this report are in agreement with the books of account of the Scheme.
d) The Balance Sheet and the Revenue Account dealt with by this report have been prepared in accordance with accounting policies and
standards as specified in the Ninth Schedule of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
e) Non-traded securities have been valued in accordance with the guidelines notified by the Securities and Exchange Board of India. In our
opinion, these valuations are fair and reasonable.
f) Without qualifying our opinion we draw attention to note no. B 1.2 in Schedule VII of the financial statements wherein the Managements
of the Trustee Company and the Investment Manager have explained their rationale for regarding Accounting Standards issued by the
Institute of Chartered Accountants of India as not being applicable to mutual funds.
g) In our opinion and to the best of our information and according to the explanations given to us, the said financial statements give the
information required by the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and give a true and fair view:
i. in the case of the Balance Sheet, of the state of affairs of the Scheme as at March 31, 2012; and
ii.
in the case of the Revenue Account, of the surplus of the Scheme for the period from March 9, 2012 (Date of Commencement) to
March 31, 2012.
For DELOITTE HASKINS & SELLS
Chartered Accountants
(Registration No. 117366W)
Sanjiv V. Pilgaonkar
Partner
Mumbai, July19, 2012 (Membership No. 39826)
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