view / download the documents. - til india

Auditor’s Reportto the Shareholders of Tractors Nepal Private Limited1041051. We have audited the accompanying Standard ConsolidatedForms (SCF) of Tractors Nepal Private Limited expressed inNepalese Rupee as of 31 March, 2009 and for the year thenended. These Standard Forms are the responsibility of TILLimited’s management. Our responsibility is to express anopinion on these Standard Forms based on our audit.2. We conducted our audit in accordance with InternationalStandards on Auditing generally accepted in India and with your‘TIL Limited Group Audit Instructions for the year ending 31stMarch, 2009.’ Those Standards require that we plan and performthe audit to obtain reasonable assurance about whether SCF arefree of material misstatement. An audit includes examining, on atest basis, evidence supporting the amounts and disclosures inSCF. An audit also includes assessing the accounting principlesused and significant estimates made by management, as wellas, evaluating the overall presentation of information in SCF.We believe that our audit provides a reasonable basis for ouropinion.3. On the basis of our examinations carried out as aforesaid andaccording to the information and explanations obtained, in ouropinion:a. The accompanying SCF have been properly prepared to givethe information required for the purpose of presentation ofConsolidated Financial Statements of the Parent Companyi.e. TIL Limited; andb. Present a true and fair view of the financial position ofTractors Nepal Private Limited as at 31st March, 2009,and its profit/loss and cash flows for the year then endedin conformity with the accounting principles generallyaccepted in India.4. This report is intended solely for the use of PriceWaterhouse, Kolkata in connection with the audit of theCFS of TIL Limited and should not be used for any otherpurpose.Date: 25 April, 2009.Jagdish Agarwal, FCAPartner,JBRH and Co.Chartered AccountantsFinancial Statements (TNPL)