Auditor Report

 

I, the undersigned, Auditor of THE CENTRAL CO-OPERATIVE BANK LTD., TONK report on the Balance Sheet and Profit & Loss Account of the Bank as at 31^st March, 2015. I have examined the forgoing Balance Sheet of THE CENTRAL CO-OPERATIVE BANK LTD., TONK as at 31^st March, 2015 and Profit & Loss Account of the Bank for the year ended upon that date with the account relating thereto of Head Office and Returns submitted & verified by the Branch Managers which have been incorporated in the forgoing Balance Sheet & Accounts.

 

1. 1. In my opinion, the Balance Sheet containing all the necessary particulars and properly drawn up so as to exhibit a true and correct view of the affairs of the Bank Accounts to the best of my information, and explanation given and shown by the book except as reported in Notes to Accounts forming part of the Balance Sheet attached herewith and long form audit report given separately.
2.  
3. 2. Where I have called for any explanation or information, the same has been given to me and has been found satisfactory except as reported in notes to accounts forming part of the Balance Sheet attached herewith and long form audit report given separately.
4.  
5. 3. The transactions of the Bank which have come to my notice are within the competence of the Bank.
6.  
7. 4. The Returns received from the Branches have been found adequate for the purpose of Audit except as reported in notes to accounts forming part of the Balance Sheet attached herewith and long form audit report given separately.
8.  
9. 5. Classification of Advances has been provided by the bank in summary form but account wise details not provided to us to verify the correctness of classification of Advances. Provision has been made on the basis of summary of classification of Advances provided by the bank. Bank has not followed IRAC Norms issued by RBI as proper classification of Advances has not been made and Interest on NPA Accounts being charged in many cases. The N.P.A and Provision for the year 2014-15 are as follows subject to our comments in point no. ‘D’ of Notes of Accounts in ‘Annexure – A’ :-

 

 

S. No.	Classification of Assets	As per Bank		As per Auditor
		Amount of Assets	Provision Made	Provision Required
1.	Standard Assets	6287.34	15.71	14.06
2.	Sub Standard Assets	243.74	24.37	69.99
3.	Doubtful Assets	9991.38	6099.26	6648.78
4.	Loss Assets	15.87	15.87	15.87
	Total	16538.83	6155.21	6748.70

 

1. 6. The Bank has shown Accumulated Loss of Rs. 3244.36 lakh as on 31^ST March, 2015 and booked loss of Rs. 916.72 lakh during the year.
2.  
3. 7.( a)  In my opinion, the Balance Sheet and Profit & loss accounts are drawn up in conformity with the law except as reported in notes to the accounts forming part of the Balance Sheet attached herewith and long form audit report given separately.
4.  
5. (b)In my opinion, the Books of Accounts have been kept by the Bank as required by the law except as reported in notes to the accounts forming part of the Balance Sheet attached herewith and long form audit report given separately. 

 

           

                      Place : Jaipur                                                                                                     As per our Report Attache

                                                                                                                                                 For Kuldeep Kumar Gupta & Co.

                      Date :   18/09/2015                                                                                               (Chartered Accountants)   

                                                                                                                                                      (K. K. GUPTA)  Partner