Bansal Bansal & Co. Chartered Accountants INDEPENDENTAUDITOR'SREVIEWREPORTToTheBoardofDirectorsBILENERGYSYSTEMSLIMITEDl.Wehavereviewedtheaccompanyingstatementofunauditedfinancial resultsofBILENERGY SYSTEMS LIMITED ("theCompany)for thequarterendedJune30, 2015(the "statement"), except for the disclosures regarding 'Public Shareholding' and'Promoter and Promoter Group Shareholding' which have been traced fromdisclosures made by the management and have not been reviewed by us. Thesequarterly financial results have been prepared on the basis of the interim financialstatements, which is the responsibility of the company'smanagementandhasbeenapprovedby theBoard ofDirectors.Intheirmeetingheld on14thAugust2015. Ourresponsibil ityis toissueareportonthesefinancial resultsbasedonourreview.2.We conducted ourreview in accordance with the Standard onReview Engagement(SRE) 2410 'Review ofInterim FinancialInformation Performed by the IndependentAuditor of the Entity', issued by the Institute of Chartered Accountants of India.This standard requires that we plan and perform the review to obtain moderateassurance as to whether the financial statementis free of material misstatement. Areview is limited primarily to inquiries of Company personnel and analyticalprocedures applied to financial data and thus provide less assurance than anaudit.We have not perfonned an audit and accordingly, we do not express an auditopinion.3.ThelenderBankofBilpowerLimitedhaspursuantto certaincorporateguaranteesgiven by the company demanded from the company their dues from BilpowerLimited amounting to Rs 215.82 crores. No Provision has been made in theaccounts for the probable loss thatmay arise on account of above demand of Rs215.82crores.4.The company has not provided for interest payable to State Bank of Indiaamounting to Rs 280.57 lacs for the Quarterended30thJune 2015. As a result thelossforthequarterended30thJune2015 isunderstatedbyRs280.57 lacs&currentliabilities as at 30thJune 2015 are also understated by Rs. 280.57 Lacs and alsoreserves are overstated by RS.280.57 lacs. The Company has not provided forinterestpayable to State BankofIndia amounting to Rs 1045.12 Lacs for the yearended 31st March 2015.The Company has also not made any provision for penalinterestclaimedbythebank.Theamountofpenalinterest