K.S.AIYAR& CO CHARTERED ACCOUNTANTS HET Laxmi Mae Shaksi Mills Lane (8 De E Moses Rd) Mahalaxeni Mamba. 400011 Tee ‘Tel 91 22.2493 2502 / 6655 1770, Fax: 9122 6655 1774 To, The Board of Directors, on neon Borax Morarji Limited. Mal@XSAiancom Mumbai He: Limited Review of the Unaudited Financial Results for the Quarter ended June 30, Mumbai. Date :12" August, 2010 . 2010. Ne have reviewed the accompanying statement of unaudited financial results of BORAX MORARASI LIMITED for the quarter ended 30” June, 2010, except for the disclosures IWe conducted our review in accordance with Standard on Review Engagements (SRE) 2410, of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of interim financial information consists ef making inquiries, primarily of persons responsible for financial and accountin, and other review procedures. A review is substantially less in scope then ar aude conducted assurates that we would become aware of al significant matters that might be identified in ‘an audit. Accordingly, we do not express an audit opinion, Givance recoverable in cash or in kind includes Rs. 71,65,255 in respect of loss of stock in ihe chemical division of the Company due to flood during June,2002. The solision han advised the Company to file proceedings against New India Assurance Co. Lid. before the Slate Consumer Redressal Commission (SCRO) under the provision of the Concae Protection Act 1986(CPA). Though the company is hopeful of recovery, we ure hovennaa Of the quantum of settlement of the claim. Subject 10 3 above, based on our review as aforesaid, nothing has come to our notice that causes us to believe that the accompanying statement of unaudited financial results referred Raut Paragraph | prepared in accordance with applicable accounting standards and other disclosed in terms of Clause 41 of the Listing Agreement including the manner in which itis to be disclosed, or that it contains any material misstatement, Membetrship No.38934 Offices also at Chennai Kolkata Goa Bhobaneshwar Bangalore Coimbatore