This script looks like it was written for sh/ksh/bash. If so, the syntax seems to be incorrect.
Code:
#Script to check for the backups of some particular Filesystems backup status
######## cat <one f ile > # hashed this out. you don't need this
while read line; do
mminfo -c gbo472b -t yesterday | grep $line
if [ $? -eq 0 ]; then
echo "$FS was backed up "
else
echo "$FS was not backed up"
fi
done < /path/to/file/with/filesystem_list
