absarhegde:
I have checked my SD slot shield and bt module shield using examples, they are working fine.
The gear you have is standard stuff and you already have them working, so it is merely a matter of getting the right programme. I don't believe you can transfer a file with Arduino but there is a Dumpfile programme in the SD examples in the IDE which more or less amounts to the same thing. This reads the TXT file and sends that data over serial, i.e. bluetooth. If you use D0,D1 for bluetooth you don't need any software for it anyway. You should already have DumpFile, and it is all you need.