(On the letter head of Statutory Auditor)

To

Dear Sir,

Subject: Annual Certificate for Forward Contracts

We refer to RBI Circular no AP (DIR SERIES) CIRCULAR NO 02 dated 04.07.2013 on

Risk Management and Inter-Bank Dealings and confirm based on the verification of
books of accounts maintained, documents produced and the explanation given to us
by ______________________(customer name), we the statutory auditors do hereby
certify that, all the Forward Contracts outstanding with all AD Category I Banks at
any point of time during the year did not exceed the value of the underlying
exposures at that time" of our customer M/s. __________________________for the
Financial Year 2013-14.

Thanking you,
Yours faithfully,

Date:
Place:

(Signature of the Statutory Auditor)

Name: ____________________________
Membership No:_____________________