Final standalone audit opinion

RELIANCE CAPITAL ASSET MANAGEMENT LIMITED ANNUAL REPORT 2008-09 To the Members, Your Directors take pleasure in presenting their Fourteenth Annual Report on the business and operations of the Company together with the audited Statement of Accounts for the year ended March 31, 2009. At the outset, your Directors wish to reiterate your Company’s commitment to strong and high standards of corporate governance, which is critical to retain and enhance the trust of all the stakeholders. The implementation and continued adherence of ethical processes & policies, along with good corporate governance practices has facilitated your Company in standing up to the scrutiny of our domestic and international investors. Your Company’s vision is to be a globally respected wealth creator with an emphasis on customer care and a culture of good corporate governance. In furtherance thereof, your Company aspires to remain the leading player in the Asset Management business in India. FINANCIALS stThe standalone and consolidated financial statements of the Company, as at 31 March, 2009, have been prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956. The financial highlights st(on a consolidated and standalone basis) for the year ended 31 March, 2009 are as follows: (in Rupees) Consolidated Standalone ...