Annual Report 2011-2012 - Bajaj Group

AUDITOR'S CERTIFICATE ON COMPLIANCE WITH THE CONDITIONS OFCORPORATE GOVERNANCE UNDER CLAUSE 49 OF THE LISTING AGREEMENTTO THE MEMBERS OFBAJAJ STEEL INDUSTRIES LIMITEDWe have examined the compliance of conditions of Corporate Governance by M/s BajajSteel Industries Limited (“the Company”) for the year ended 31 st March, 2012 , asstipulated in Clause 49 of the Listing Agreement of the said Company with StockExchanges.The compliance of conditions of Corporate Governance is the responsibility of theManagement. Our examination was limited to a review of the procedures andimplementation thereof adopted by the Company for ensuring compliance with theconditions of Corporate Governance. It is neither an audit nor an expression of opinion onthe financial statements of the Company.In our opinion and to the best of our information and according to the explanations givento us, we certify that the Company has complied with the conditions of CorporateGovernance as stipulated in Clause 49 of the Listing Agreement.We further state that such compliance is neither an assurance as to the future viability ofthe Company nor of the efficiency or effectiveness with which the management hasconducted the affairs of the Company.We state that no investor grievances are pending for a period exceeding one month againstthe Company as per records maintained by the Company.On the basis of our review and according to the information and explanations provided tous, the conditions of Corporate Governance as stipulated in Clause 49 of the ListingAgreement with the Stock Exchange have been complied with all material respect by theCompanyFOR M/S B.CHHAWCHHARIA & CO.CHARTERED ACCOUNTANTSSANJAY AGARWALPARTNERPLACE : NAGPUR Firm Registration No. 305123EDATE : 26.06.2012 Membership No. 66580