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Auditor Report of Aayush Food & Herbs Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of AAYUSH FOOD AND HERBS LIMITED ("the company"), which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statement

The Company's Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements, give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2015;

b) in the case of the Statement of Profit and Loss Account, of the Profit/Loss for the year ended on that date;

c) in the case of Cash Flow Statement, of the cash flows for the year ended on that date.

Report on the other Legal and regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act 2013, We give in the Annexure statement on the matters specified in paragraph 3 & 4 of the order.

2. As required by section 143(3) of the Act, we report that:

a) we have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

b) in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.

c) the Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) in our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e) on the basis of written representations received from the directors as on 31 March, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2015, from being appointed as a director in terms of Section 164(2) of the Act.

f) With respect to the other matters included in the Auditor's Report and to our best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financial position.

ii. The Company did not have any long-term contracts including derivatives contracts for which there were any material foreseeable losses.

iii. No amount is required to be transferred to the Investor Education and Protection Fund by the Company as on 31 March, 2015.

The Annexure referred to in paragraph 1 of the Our Report of even date to the members of AAYUSH FOOD AND HERBS LIMITED on the accounts of the company for the year ended 31 March, 2015.

On the basis of such checks as we considered appropriate and according to the information and explanation given to us during the course of our audit, we report that:

(i) (a)The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets on the basis of information available.

(b)As explained to us, fixed assets have been physically verified by the management reasonable intervals; no material discrepancies were noticed on such verification.

In our opinion and according to the information and explanations given to us, no substantial part of fixed asset has been disposed off during the year and therefore does not affect the going concern assumption

(ii) (a) As explained to us, the inventories have been physically verified by the management at reasonable intervals during the year. In our opinion, the frequency of such verification having regard to the size of the company and the nature of its business.

(b)In our opinion and according to the information and explanations given to us, the physical verification of inventories followed by the management is reasonable and adequate in relation to the size of the Company and the nature of the business.

(c) The Company has maintained proper records of inventory. As explained to us, there was no material discrepancies noticed on physical verification of stocks, as compared to book records.

(iii) (a) According to the information and explanations given to us and on the basis of our examination the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 189 of the Companies Act, 2013. Consequently, the provisions of clauses iii(a) and iii(b) of the order are not applicable to the Company

(iv) In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fixed assets and for the sale of goods and services. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

(v) In our opinion, and according to the information and explanation given to us, the company has not accepted any deposits; hence, clause (v) is not applicable to the company. Accordingly, directives issued by the Reserve Bank of India and the provisions of section 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there under are not applicable.

(vi) The Company is not required to maintain cost records pursuant to the Rules made by the Central Government for maintenance of cost records under sub-section (1) of section 148 of the Act.

(vii)(a) According to the records of the Company, undisputed statutory dues including Provident Fund, Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Duty of Custom, Duty of Excise, Value added tax, cess to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there is no amounts payable in respect of income tax, sales tax, wealth tax, service tax, duty of customs, duty of excise or value added tax or cess which have not been deposited on account of any disputes.

(c) Company does not have any amount required to be transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under.

(viii)The Company does not have any accumulated loss at the end of the financial year and has incurred cash losses in the financial year and in the financial year immediately preceding such financial year.

(ix) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

(x) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by other from bank or financial institutions.

(xi) According to the information and explanations given to us, the Company has not raised any term loans during the year.

(xii) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year.

As per our separate report of even date

For SUDHIR AGARWAL & ASSOCIATES

CHARTERED ACCOUNTANTS

F.R.N.-509930C

CA AMIT KUMAR

Place: New Delhi (PARTNER)

Date : 30.05.2015 M.NO.518735


Mar 31, 2014

We have audited the accompanying financial statements of Aayush Food And Herbs Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2014 and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards notified under the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material! misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2014;

b) in the case of the Profit and Loss Account, of the profit/ loss for the year ended on that date; and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that:

a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.

c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards notified under the Companies Act, 1956 read with the General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013.

e) On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

The Annexure referred to in paragraph 1 of Our Report on Other Legal and Regulatory Requirements.

We report that:

1. (a) The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets.

(b) As explained to us, fixed assets have been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, no fixed asset has been disposed during the year and therefore does not affect the going concern assumption.

2. (a) As explained to us, inventories have been physically verified during the year by the management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(c) In our opinion and on the basis of our examination of the records, the Company is generally maintaining proper records of its inventories. No material discrepancy was noticed on physical verification of stocks by the management as compared to book records.

3. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clauses iii (b), iii(c) and iii (d) of the order are not applicable to the Company.

(e) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not taken loans from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Thus sub clauses (f) & (g) are not applicable to the company.

4. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fixed assets and payment for expenses & for sale of goods. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

5. a) As per information & explanations given to us and in our opinion, the transaction entered into by the company with parties covered u/s 301 of the Act aggregating Rs. Five lacs in the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956,

7. The company does not require to have internal audit system as the paid-up capital and reserves does not exceeds Rs. 50 lakhs as at the commencement of the financial year concerned or does not have average annual turnover exceeding five crores for a period three consecutive financial years immediately preceding the financial year concerned.

8. As per information & explanation given by the management, maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub- section (1) of section 209 of the Act.

9. (a) According to the records of the company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2014 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there is no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty, whichever applicable, which have not been deposited on account of any disputes.

10. The Company does not have any accumulated loss and has not incurred cash loss during the financial year covered by our audit and in the immediately preceding financial year.

11. In our opinion and according to the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders, as applicable to the company,

12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. The Company is not a chit fund or a nidhi /mutual benefit fund/society. Therefore, the provision of this clause of the Companies (Auditor's Report) Order is not applicable to the Company.

14. According to information and explanations given to us, the Company is not dealing or trading in Shares, securities, debentures and other investments. According the provisions of clause 4(xiv) of the Order is not applicable to the company.

15. According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.

16. Based on our audit procedures and on the information given by the management, the company has not taken any term loan during the year.

17. Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company as at 31st March, 2014, we report that no funds raised on short-term basis have been used for long-term investment by the Company.

18. Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year to parties and companies covered in the register maintained under section 301 of the Companies Act.

19. The Company has not issued any secured outstanding debentures during the period.

20. The Company has not raised any money by public issue during the year.

21. According to the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

For Rajesh Laxmi & Associates

Chartered Accountants

FRN:012203N

Place : Delhi Rajesh Gupta

Date : 29.05.2014 (Partner)

Membership No.090427


Mar 31, 2013

1. We have audited the attached Balance Sheet of Aayush Food And Herbs Limited as at31SI March, 2013, the statement of Profit and loss Account for the year tended on that date annexed thereto These Financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit,

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material mis statement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure. a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to in paragraph 2 above, to report that:

a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary to the purpose of our audit.

b) In our opinion, proper hooks of account, as required by the law. have been kept by the company, so far as appears from our examination of those books.

c) The Balance Sheet, the statement of Profit & Loss Account dealt with by this report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, the statement of Profit & Loss Account dealt with by this report comply with the mandatory Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act 1956

e) In our opinion, and based on information and explanation given to us, none of Directors arc disqualified as on 31st March, 2013 from being appointed as Directors in term of section 274(1 )(g) of The Companies Act, 1956.

f) In our opinion and to the best of our information and according to the explanations given 10 us, the said accounts read together with the significant Accounting Policies and other notes thereon give the information required by the Companies Act. 1956. in the manner so required, and present a true and fair view in conformity with the accounting principles generally accepted in India:

(i) In so far as it is relates to Balance Sheet, of the state of affairs of the company as at 31st March. 2013;

(ii) In so far as it relates to the statement of Profit & Loss Account, the profit of the company for the year ended on that date: and

ANMRXURE REFERRED TO IN PARAGRAPH 3 Of THE AUDITOR'S REPORT ON THE ACCOUNTS OF Aayush Food And Herbs Limited FOR THE YEAF ENDING 2013

As required by the Companies (Audits report) Order. 2003 issued by the Central Government of India in terms of section 227{4-A)office Companies Act, 1956, we report that:

1 In respect of fixed assets:

(A) The company has maintained proper records showing foil particulars. metering quantitative details and situation of fixed assets on the basis of available information,

(B) As explained to us, all the fixed assets have not been physically verified by the Board Management during the year at reasonable intervals, which in our opinion, is reasonable having regard to the size of the company and the nature of assets. No material discrepancies were noticed on sure) physical verification.

(C) According to the information and explanation and on examination of Books of Accounts, Company has not disposed off any substantial/major part of fixed assets during the year and the going concern status of The company is not affected.

2 In respect of its inventories:

(A) As explained to us, the inventory has been physically verified by the management at regular intervals during the year.

(B) In our opinion and according to the information and explanations given to us, the procedures followed by the management for physical verification of inventory are not reasonable and adequate in relation to size of the company and nature of its business.

(C) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory, the Company has maintained proper records of inventory. And there were no material discrepancies noticed on physical verification of inventory as compared to the book records.

3 In respect of loans, secured or unsecured, grained or taken by the company to/from companies. firms or other parties covered in the register maintained under section 301 of the Companies Act 1956:

(A) The company has not granted Loans to any parties.

(B) As the Company has no granted any loan, hence it is not applicable.

(C) As the Company has no granted any loan, hence it is not applicable.

(D) As the Company has no granted any loan, hence it is not applicable.

4 In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and nature of its business with regard to purchase of inventory and fixed assets and with regard for the sale of goods and services. During the course of audit, no major weakness has been noticed in the internal control.

5 in respect of contracts or arrangements entered in the register maintained in pursuance of Section 301 of the Companies Act1956.

(A) In our opinion and according to the information and explanation given to us. the transactions made in pursuance of contracts e* arrangements that needed to he entered in the register maintained under section of the Companies Act1956 have been so entered.

{3} In our opinion and explanation given to us, the transactions exceeding the value of 5 lakh in respect Of any purls during the year have been made at prices which are prima-feels reasonable having regard to prevailing market prices at the relevant lime where such prices are available.

6 In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from the public and therefore, the provisions of Section 58A and 5SAA of the Companies Act, 1956 and Rules made there under arc not applicable to the Company.

7 In our opinion, the company has an internal audit system commensurate with its size and nature of its business.

8 To the best of our knowledge The Central Government has not prescribed the maintenance or cost records VJ/s 20)(d) of the company act, 1956 for any of the products of the company,

9 In respect of statutory docs:

(A) According to the information and explanations given to us. the company was generally regular in depositing due* in respect of employees Provident Fund. Employees State Insurance fund. Income Tax, and other statutory dues with the appropriate authority during the year.

(B) According to the records examined by us and the information and explanations given to us, there are no disputed amounts due in respect of income tax, wealth tax. sales tax, excise duty, Employees provident fund, Employee stale insurance fund and other statutory dues at the end of the year.

10 The Company does not have accumulated losses as at the end of the year and the Company has not incurred cash losses during current and the immediately preceding financial year,

11 Used on our audit procedures and on the basis of information and explanations given by the management, the Company has not defaulted in the repayment of dues lo baits, financial institutions and Debentures holders during the year.

12 In our opinion and according to information and explanation given to us, no bans and advances have been granted by the company on the basis of security by way of pledge of shares, debentures and oilier security.

13 In our opinion the company is not a Chit Fund, Nidhi or Mutual Dent it Fund/Society. Therefore, the provisions of clause 4
14 The company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv} of the order arc not applicable.

15 As per the explanations and as per the records of die company no guarantee has been given by the company for loans taken by others,

16 In our opinion and according to information and explanation given to us, the Company has not availed of any term loans during the year. There were no term loans outstanding as at the beginning and as at end of the year.

17 According to the information and explanations given to us and on examination of balance sheet, we report that no funds raised on short term basis have, prima fact, not been used during the year for long term investment and vice versa.

I8 The company has not made any preferential allotment lo parties and companies covered under register maintained under Section 301 of the Companies Act. 1961, during the year. The price at which the shares have been issued is not prejudicial to the interest of the Company

19 The Clause 13 of the order is not applicable, as the company has not issued any debentures during the year.

20 The Company has not raised money by any public issues during the year and hence the question of disclosure and verification of end use of such money does not arise.

21 In our opinion and according to the information and explanations given to us no fraud on or by the Company has been noticed or reported during the year that causes the financial statements to by materially misstated.

For Rajesh Laxmi & Associates

(Chartered Accountants)

(Rajesh Gupta)

Place:- Delhi Partner

Date :- 29/05/2013 M. No. 090427

FRN-0I2203N


Mar 31, 2012

We have audited the Balance Sheet of M/S AAYUSH FOOD AND HERBS LIMITED as at 31st March, 2012 and also the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's Management, Our responsibility is to express an opinion on these financial statements based on our audit,

We have conducted our audit in accordance with Auditing Standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material mis-statement. An audit includes examining, on test basis evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting-principles used and significant estimate made by die management as well as evaluating the overall financial statement presentation. We believe that our. audit provides a reasonable basis for our opinion.

As required by the-Companies (Auditors Report) Order, 2003 issued by the Company law Board in term of Section 227 (4 A) of the Companies Act, 1956 we enclose in the annexure a statement of the matters specified in particulars in paragraph 4 & 5 of the said order to the extent applicable to this company.

Further to our comment. in the annexure referred to in para above, we report that:

i) We have obtained all the information and explanation, which to the best of our knowledge and belief were necessary for the purpose of the audit.

ii) In our opinion, proper books of accounts as required by true law have so far as appears from our examination of the books are maintained.

iii) The Balance Sheet and the Profit & Loss Account dealt with by the report arc in agreement with the books of accounts,

iv) In our opinion, Balance Sheet and Profit & Loss Account, referred to in this Report, comply with the applicable Accounting Standards referred to in Section 21 l(3C) of the Companies Act, 1956 (as amended).

v) In our opinion, and based on information and explanations given lo us, we report that none of the directors arc disqualified as on 31st March 2011 from being appointed as Directors in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956,

vi) In our opinion and to the best of our information and according to the explanations given to us, the said statements of accounts, read together with the notes thereon, gives the information required by the Companies Act 1956, in the manner .so required, and give a true and fair view in conformity with the accounting principles generally accepted in India:

(i) In the case of Balance Sheet of the state of affairs of the Company as at 31st March 2012.

(ii) In the case of Profit & Loss account of the Profit of the Company for the year ended on that date.

ANNKXURE TO THE ALDJTORS RE POUT

1 (a) "me company has margined proper records showing full particulars including quantitative details and situation of fixed assets.

1 (b) All the assets have not been physically verified by the management during the year but there is a regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

1 (c) According to the Information and Explanation and on examination of Books of Accounts, company has not disposed off any/ substantial part of Fixed Assets during the Year.

2 (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable-

2 (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in rotation to the size of the company and the nature of its business.

2 (c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks aid the book records were not material.

3 (a) The Company has not granted any Loans Secured or Unsecured to the other companies listed in the register maintained under section 301 of the Companies Act, 1956.

3 (b) As company has not granted any loan, hence it is not applicable

3 (c) As company has not granted any loan, hence it Is not applicable

3 (d) As company has not granted any loan, hence it is not applicable

3 (e) The Company has not taken any Loans Secured or Unsecured from the other companies listed in the register- maintained under section 301 of the Companies Act, 1956.

3 (f) As company has net taken any loan, hence ft is not applicable.

3 (g) As company hag not taken any roan, hence it is not applicable,

4 In our opinion an according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fined assets and with regard to the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls.

5 (a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered..

5 (b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 in respect or any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

6 As per the information and explanation given to us and as per our examination of books of accounts, the company has not taken any deposit, hence there is no contravention of the provisions of Section SEA. 58AA or any other relevant provisions of the Companies Act, 1956.

7 In our opinion, the company has an internal audit system commensurate with the size and nature of its business.

8 The Central Government has not prescribed the maintenance of cost records in respect of the Company under section 209 (1) (d) of the Companies Act, 1956.

9 (a) The company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employees state insurance, income tax, sales tax, wealth tax, service tax, Custom duty, excise duty, Cess and other material statutory dues applicable to it.

9 (b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, safes tax, service tax, custom duty, excise duty and Cess were in arrears, as at 3L03.2D12 For a period of more than six months from the date they became payable.

10 The Company do not have any accumulated kisses at the end of financial year and has not Incurred any cash losses In the financial year covered toy our audit and in the immediately preceding financial year.

11 The cur opinion and according to the information and explanations given to us, the company has not taken any loans or advances from a financial institution, bank or debenture holders, hence this point is not applicable.

12 The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Hence maintenance of documents and records relating to such items are not applicable.

13 In our opinion, the company is not a chit fund or a nidhi / mutual benefit fund/society. Therefore, the provisions of because (iii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

13 (a) N.A.

13 (b) N.A.

13 (c) N.A.

13 (d) N.A.

14 In our opinion, the company is not dealing in or trading in shares, securities, debentures and often investments. Accordingly, the provisions of cause 4(iii)of the Companies {Auditor's Report) Order, 2003 are not applicable to the company,

15 As per the Explanation and as per die records of the company, no guarantee has been given by the company for loans taken by others.

16 As per the Explanation arid as per the records of the company, the Company has not taken any term bens during the Financial Year.

17 According to the information and explanations given to us, and on an overall examination of the balance sheet of the company, we report that the no funds raised on short-term basis have been used for long-term investment. No long-term funds have been sued to finance short-term assets except permanent working capital.

18 Based on the audit procedures performed and information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year.

19 According to the information and explanations given to us, the company has not issued any debentures during the year.

20 Company has not raised any money from public issues,-

21 According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

Place: Delhi For Rajesh Laxmi & Associates

Date : 01-09-2012 Chartered Accountants

C.A. Rajesh Gupta

Partner

M.No-090427

205, Basant Complex Vser Savaritar Block, Laxmi Nagar, New Delhi - 110092

Firm Reg.No-Ql2203N


Mar 31, 2011

We have audited the Balance Sheet of M/S AAYUSH FOOD AND HERBS LIMITED as at 31st March, 2011 and also the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's Management Our responsibility is to express an opinion on these financial statements based on our audit

We have conducted our audit in accordance with Auditing Standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material mis-statement An audit includes examining, on test basis evidence supporting the amounts and disclosures in the finance statements An audit also includes assessing the accounting principles used and Significant estimate made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

As required by the Companies (Auditors Report} Order, 2003 issued by the Company taw Board in term of Section 227 (4A) of the Company Act, 1956 we enclose in the anne.ure a stated of the matters specified in particulars in paragraph 4 & S of the said order to the extent appoint to the is company.

Further to our comment in the annexure referred to in para above, we report that:

i) We have obtained all the information and explanation, which* to the best of our knowledge and belief were necessary for the purpose of the audit.

ii) In our opinion, proper books of Accounts as required by the law have so far as appears from our examination of the books are maintained.

iii) The Balance Sheet and the Profit & Loss Account dealt by with the report are in agreement with the books of accounts.

iv) In our opinion, Balance Sheet and Profit & Loss Account, referred to in this Report, comply with the applicable Accounting Standards referred to in section 211(3C) of the Companies Act,1956 (as amended)

v) In our opinion, and based on information and explanations given to us. we report that none of the doctors are disqualified as on 31st March 2010 from being apposed as Directors in terms of clause (g) of sub section (1) of section 274 of the Companies Act,1956.

vi) in our opinion, and to the best of our information and according to the explanations given to us, said statements of accounts, read together with the notes thereon gives the information required by the Companies Act 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India.

i) In the case of Balance Sheet of the state of affairs of the Company as at 31st March 2011.

ii) In the case of Profit & Loss Account of the Profit of the company for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

1 (a) The company has maintained proper records showing full particulars including quantitative details and situation of / fixed assets,

1 (b) All the assets have not been physically verified by the management during the year but there is a regular programme of verification which, in our opinion, is reasonable having regard to the Size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

1 (c) According to the Information and Explanation and on examination of Books of Accounts, company has not disposed off any/ substantial art of Fixed Assets during the Year.

2 (a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

2 (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the sire of the company and the nature of its business

2 (c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material,

3 (a) The Company has not granted any Loans Secured or Unsecured to the other companies listed in the register maintained under section 301 of the Companies Act, 1956

3 (b) As company has not granted any loan, hence it is not applicable 3

3 (c) As company has not granted any loan, hence it is not applicable

3 (d) As company has not granted any loan, hence it is not applicable

3 (e) The Company has not taken any Loans Secured or Unsecured from the companies listed in the register maintained under section 301 of the Companies Act, 1956.

3 (f) As company has not taken any loan, hence it is not applicable,

3 (g) As company has not taken any ban, hence it is not applicable.

4 In our opinion an according to the information and explanations given to us, there are adequate internal control procedures commensurate with the a» of the company and «ie nature of its business with regard to purchases of inventor/, fixed assets and with regard to the sale of goods and services. During the course of our audit we have not observed any continuing failure to correct major weaknesses in internal controls.

5 (a) Acceding to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

5 (b) In our opinion and according to the information and explanations given to us, the transactions made is pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act 1956 in respect of any party during the year have been made at price which are reasonable having regard to prevailing market prices at the relevant time.

6 As per the information and explanation given to us and as per our examination of books of accounts, the company has not token any deposit, hence there is no contravention of the revisions of Section 58A, 5SAA or any other relevant provisions of the Companies Act, 1956.

7 In our opinion, the company has an internal audit system commensurate with the size and nature of its business,

8 The Central Government has not prescribed the maintenance of cost records in respect of the Company under section 209 (1)
9 (a) The company is regular in depositing with appropriate authority undisputed statutory dues including provident fund, education fund, employees state Insurance, income tax, sales tax, wealth tax service tax, custom duty, excise duty, Cess and other material statutory dues applicable to It.

(b) According to the information and explanations given to us no undiluted amounts payable in respect of income tax, sales tax, service tax, custom duty, excise duty and Cess were in arrears, as at 31.03.2011 For a period of more than six months from the date they became payable.

10 The company do not have any accumulated losses at the end of financial year and has not incurred any cash losses in the financial year cowered by our audit and in the immediately preceding financial year.

11 In our opinion and according to die information and explanations given to us, the company has not taken any loans or advances from a financial institution, bank or debenture holders, hence this point is not applicable.

12 The company has not granted loans and advances on the basis of Security by way of pledge of shares debentures and other securities Hence maintenance of documents and records relating to such items are not applicable.

13 In our opinion, the company is not a chit fund or a Nidhi/ mutual benefit fund/society. Therefore the provisions of clause 4(xlii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company,'

13(a) N.A.

13(b) NA

13(C) NA

13(d) NA

14 In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investment Accordingly, the proves of clause 4(xiii} of the Compares (Auditor's Report) Order, 2003 are not applicable to the company.

15 As per the explanation and as per the records of the company, no grantee has been given by the company for loans taken by others.

16 As per the explanation and As per the records of the company, the company has not taken any term loans during the Financial Year.

17 According to the information and emanations given to us, and on an overall examination of the balance sheet of long-term funds have been used to finance short-term asset except permanent working capital.

18 Based on the audit procedures performed and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year.

19 According to the information and rations given to us, the company has not issued any debenture during the year.

20 Company has not raise any money from public issues.

21 According to the information and explanation given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

For Rajesh Laxmi & Associaton

Chartered Accountants Place: New Delhi

Date : 02-09-2011 CA Rajesh Gupta

Prop.

M.No-090427

205. Basat Complex, Veer Savarkar Block, Laxmi Nagar, New Delhi- 110092

 
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