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Auditor Report of Abans Enterprises Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Matru-Smriti Traders Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2015, 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

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone 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 maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of the appropriate accounting policies; making judgements and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and fair 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 thereunder.

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 judgement, 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 a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the 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 standalone 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, of the state of affairs of the Company as at 31st March, 2015, and its Profit and its 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, 2015("the Order"), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act , we give in the Annexure a statement on the matters specified in paragraphs 3 and 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, 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 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of section 164(2) of the Act.

f. There were no amounts which are required to be transferred to the Investor Education and Protection Fund by the Company during the year.

Other Matters.

The financial statements of the Company for the year ended March 31, 2014 ,were audited by another auditor whose report dated May 29, 2014 expressed an unmodified opinion on those statements.

Annexure referred to in paragraph 1 under the heading Report on other legal and regulatory requirements of our report of even date

i. The Company does not have any Fixed Assets , Hence Clause (i) of paragraph 3 of the Order is not applicable to the Company.

ii. The Company has not dealt with Inventory during the year, Hence Clause (ii) of paragraph 3 of the Order is not applicable to the Company.

iii. The Company has not granted any loans, secured or unsecured to companies, firm or other parties covered in the register maintained under Section 189 of the Act. Consequently, the requirement of Clause (iii) (a) and Clause (iii) (b) of paragraph 3 of the Order is not applicable to the Company.

iv. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and nature of its business for sale of services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in such internal control system.

v. According to the information and explanations given to us, the Company has not accepted any deposits within the meaning of provisions of sections 73 to 76 or any other relevant provisions of the Act and the rules framed thereunder. Therefore, the provisions of Clause (v) of paragraph 3 of the Order are not applicable to the Company.

vi. As per information and explanations as produced before us, maintenance of Cost records has not been prescribed for the Company. Hence, Clause (vi) of paragraph 3 of the Order are not applicable to the Company

vii. In respect of Statutory dues :

a. According to the records of the Company, undisputed statutory dues Direct Tax, Indirect Tax and any other statutory dues have been generally regularly deposited with appropriate authorities.

According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at March 31,2015.

b. According to the information and explanations given to us, there are no disputed statutory dues outstanding as on 31st March 2015.

c. There were no amounts which are required to be transferred to the Investor Education and Protection Fund by the Company during the year.

viii. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

ix. The Company has no Loans from Bank, Financial Institutions or from debenture holders. Hence, Clause (ix) of paragraph 3 of the Order is not applicable to the Company.

x. In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from Banks or Financial Institutions during the year. Therefore, the provisions of clause (x) of paragraph 3 of the Order are not applicable to the Company.

xi. The Company has not raised any term loans during the period under audit hence clause (xi) of paragraph 3 of the Order are not applicable to the Company.

xii. 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.

Date: 30,n May 2015 For Paresh Rakesh & Associates Place: Mumbai Chartered Accountants FRN: 119728W

Sd/- Rakesh Chaturvedi Partner M. no:102075


Mar 31, 2014

I have audited the accompanying financial statements of Matru Smriti Traders Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2014, the Statement of Profit and Loss and for the year ended, and a summary of the 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 of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act"). 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.

Auditors'' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. I conducted audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that I comply with the 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 the 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 the 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

In my 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 31st March, 2014;

(b) in the case of the Statement of Profit and Loss, of the Profit of the Company for the year ended on that date, and

(c) in the case of the Cash Flow Statement, of the Cash Flows for the period 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, I 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) I have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of my audit.

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

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

(d) In my opinion, the Balance Sheet, Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Act.

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

ANNEXURE TO THE AUDITORS'' REPORT

(i) (a) The company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) I am informed that Fixed Assets has been physically verified by the management and no discrepancies were observed between book record and physical verification.

(c) The Company has disposed off substantial part of Fixed Asset during the year which has no effect to its going concern.

(ii) In my opinion and according to the information and explanation given to me the company does not hold any inventories during the period under review; hence the clause (ii) (a) to (c) of the said order is not applicable.

(iii) In my opinion and according to the information and explanation given to me there are adequate internal control procedures commensurate with the size of the company and the nature of its business, for the purchase and sale of inventory, fixed assets and with regard to the sale of services. During, the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(iv) The company has no transactions of purchase and sale of services made in pursuance of contracts and arrangements entered in the register mentioned under section 301 of the Companies Act and aggregating during the year to Rs. 500000/- or more in respect of each party.

(v) The Company has not taken unsecured loan from companies, listed in the register maintained under sec 301 of the Companies Act, 1956. In my opinion the rate of interest and the other terms & conditions of such loans are not prima facie prejudicial to the interest of the company.

(vi) The Company has not given interest free loans to employees.

(vii) The company has not accepted any deposit from public under provisions of section 58A of the Companies Act, 1956 and accordingly, the provision of section 58A of the Companies Act and Rules framed there under are not applicable.

(viii) The Company is not required to have an internal audit system.

(ix) As explained to me the Company has not been prescribed by the Central Government to maintain cost records under Sec 209(1) (d) of the Companies Act, 1956.

(x) The Company is regular in depositing undisputed statutory dues including Income tax, Service Tax, Wealth Tax, customs duty, excise duty, cess and any other material statutory dues wherever applicable with the appropriate authorities. I am informed that there are no arrears of outstanding statutory dues as on 31st March 2014, which are outstanding for more than six months.

(xi) According to the information and explanations given to me, no personal expenses of employees or directors have been charged to the revenue account, other than those payable under contractual obligations with the generally accepted business practice.

(xii) The company is not a Sick Industrial Company within the meaning of Clause (O) of sub-section 1 of section 3 of the Sick Industrial Companies (Special Provision) Act, 1985.

(xiii) In my opinion and according to the information and explanation given to me, the company has no dues outstanding with the financial institutions, banks as at the balance sheet date.

(xiv) The company has not granted any loans or advance on the basis of security by way of pledge of shares and debentures or any other securities.

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

(xvi) The company has, in my opinion maintained proper records and contracts with respect to its investments & dealing in shares and securities where the timely entries of transaction are made in the register maintained for it. All investments at the close of the year are held in the name of the company.

(xvii) The Company has not given any guarantee for loans taken by others from banks or financial institutions.

(xviii) In my opinion the company is not a dealer or traders in share securities, debenture and other investments.

(xix) In my opinion and according to the information and explanation given to me, the company has not taken any term loan.

(xx) According to the information and explanations given to me and on an overall examination of the Balance sheet of the company, I report that the no fund raised on short term basis have been used for long term investment. No long term funds have been used to finance short term assets except permanent working capital.

(xxi) The company has not made any preferential allotment of shares during the year.

(xxii) The company has not issued any debentures.

(xxiii) The company has not raised any money by public issue during the year.

(xxiv) 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.

(xxv) During the course of my examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India, and I have neither come across any instance of fraud on or by the company, noticed or reported during the period nor I have informed of such case by the management.

For H. K. Dedhia & Co. Chartered Accountants Hasmukh Dedhia Proprietor Membership No.: 30839

Place: Mumbai Date: 29/05/2014


Mar 31, 2013

I have audited the accompanying financial statements of Matru Smriti Traders Limited ("the Comoanv", whirh compnse the Balance Sheet as at March 31, 2013, the Statement of Profit and Loss for the summary of the 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 thp SeCt,0n 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the desicn statements that g,ve a true and fa.r v.ew and are free from material misstatement, whether due to fraud or error. Auditors'' Responsibility

a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2013;

(b) in the case of the Statement of Profit and Loss, of the loss of the Company for the year ended on that date, and

(c) in the case of the Cash Flow statement, of the Cash Flows for the period ended on that date.

Report on Other Legal and Regulatory Requirements

2. As required by Section 227(3) of the Act, we report that: explanations which to the best of our knowledge and belief were necessary for the purposes of my audit.

(b) in my opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those ANNEXURE TO THE AUDITORS'' REPORT

(i) (a) The company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) I am informed that Fixed Assets has been physically verified by the management and no discrepancies were observed between book record and physical verification.

(c) The Company has not disposed off substantial part of Fixed Asset during the year to effect to its going concern.

(ii) in my opinion and according to the information and explanation given to me the company does not hold any inventories during the period under review; hence the clause (ii) (a) to (c) of the said order is not applicable.

(iii) In my opinion and according to the information and explanation given to me there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase and sale of inventory, fixed assets and with regard to the sale of services During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(iv) The company has no transactions of purchase and sale of services made in pursuance of contracts and arrangements entered in the register mentioned under section 301 of the Companies Act and aggregating during the year to Rs. 500000/- or more in respect of each party.

(v) The Company has not taken unsecured loan from companies, listed in the register maintained under sec 301 of the Companies Act, 1956. In my opinion the rate of interest and the other terms & conditions of such loans are not prima facie prejudicial to the interest of the company.

(vi) The Company has not given interest free loans to employees. (vii) The company has not accepted any deposit from public under provisions of section 58A of the Companies Act, 1956 and accordingly, the provision of section 58A of the Companies Act and Rules framed there under are not applicable.

(viii) The Company is not required to have an internal audit system.

(ix) As explained to me the Company has not been prescribed by the Central Government to maintain cost records under Sec 209(1) (d) of the Companies Act, 1956.

(x) Ihe Company is re8ular in depositing undisputed statutory dues including Income tax, Service Tax Wealth Tax, customs duty, excise duty, cess and any other material statutory dues wherever applicable with the appropriate authorities. I am informed that there are no arrears of outstanding statutory dues as on 31 March 2013, which ae outstanding for more than six months.

(xi) According to the information and explanations given to me, no personal expenses of employees or directors have been charged to the revenue account, other than those payable under contractual obligations with the generally accepted business practice.

(xii) The company is not a Sick Industrial Company within the meaning of Clause (O) of sub-section 1 of section 3 of the Sick Industrial Companies (Special Provision) Act, 1985.

(xiii) in my opinion and according to the information and explanation given to me, the company has no dues outstanding with the financial institutions, banks as at the balance sheet date.

(xiv) The company has not granted any loans or advance on the basis of security by way of pledge of shares and debentures or any other securities.

(xv) in our opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore the provisions of clause (xiii) of the companies (Auditor''s Report) Order, 2003 are not applicable to the companies.

(xvi) The company has, in my opinion maintained proper records and contracts with respect to its investments & dealing in Shares and securities where the timely entries of transaction are made in the register maintained for it. All investments at the close of the year are held in the name of the company.

(xvii) The Company has not given any guarantee for loans taken by thers from banks or financial institutions.

(xviii) In my opinion the company is not a dealer or traders in share securities, debenture and other investments.

(xix) In my opinion and according to the information and explanation given to me, the company has not taken any term loan.

(xx) According to the information and explanations given to me and on an overall examination of the Balance sheet of the company, I report that the no fund raised on short term basis have been used for long term investment. No long term funds have been used to finance short term assets except permanent working capital.

(xxi) The company has not made any preferential allotment of shares during the year.

(xxii) The company has not issued any debentures.

(xxiii) The company has not raised any money by public issue during the year.

(xxiv) 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.

(xxv) During the course of my examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India, and I have neither come across any instance of fraud on or by the company, noticed or reported during the period nor I have informed of such case by the management.

For H. K. Dedhia & Co.

Chartered Accourtants

Hasmakh Dedhia

Proprietor

Mem. No: 30839

Place: Mumbai

Date: 29.05.2013


Mar 31, 2011

1 I have audited the attached Balance Sheet of MATRU SMRITI TRADERS LTD. as at March 31, 2011 and the Profit and Loss Account for the year ended on that date These financial statements are the responsibility of the Company''s management. My Responsibility is to express an opinion on these financial statements based on my audit. 2 I conducted the audit in accordance with the auditing standards generally accepted in India. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test check the basis, evidence supporting the amounts and diclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation . I 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 company Law Board in terms of Section 227 (4A) of the Companies Act, 1956, I enclose in the Annexture, a statementon the matters specified in paragraph 4 and 5 of the said Order. 4 Further to our comments in the Annexture referred to in paragraph 3 above: a) I have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of my audit; b) In my opinion, proper books of accounts as required by Law have been kept by the company so far as it appears from my examination of such books; c) In my opinion the Balance Sheet and Profit and Loss Account referred to in this report are in agreement with the books of account. d) In my opinion the Balance Sheet and Profit and Loss Account comply with the Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956; e) On the basis of written representation received from the Directors and taken on record by the The Board of Directors I report that none of the said directors of the Company are disqualified as on March 31, 2011 from being appointed as a Director under Clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956 f) In our opinion the Cess payable is not applicable g) In my opinion and to the best of my information and according to the explanations given to me. The said Balance Sheet and Profit and Loss Account read together with notes thereon, give 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 case of the Balance Sheet, of the state of affairs of the company as on March 31 2011 and ii) In the case of the Profit and Loss Account, of the Profit for the year ended on that date. ANNEXURE TO THE AUDITOR''S REPORT

(REFERRED TO IN PARAGRAPH 1 OUR REPORT OF EVEN DATE)

1. The Compay does not have any stocks. 2. In my opinion and according to the information and explanation given to me, the company has a reasonable system of authorization at proper levels and there is adequate internal control procedure commensurate with the size of the company and the nature of its business with regards to the sale of services.

3. The Company has no transactions of purchase and sale of services made in pursuance of contracts and arrangements entered in the register mentioned under section 301 of the Companies Act and aggregating during the year to Rs. 5,00,000/- or more in respect of each party. 4. The Company has not taken unsecured loan from companies, listed in the register maintained under Sec 301 of the Companies Act, 1956. In my opinion the rate of interest and the.other terms & conditions of such loans are not prima facie prejudicial to the interest of the company.

5. The Company has not granted unsecured loans to companies, listed in the register maintained under sec 301 of the Companies Act, 1956. In my opinion the rate of interest and the other terms & conditions of such loans are not prima facie prejudicial to the interest of the company.

6. The Company has not given interest free loans to employees. 7. The Company has not accepted any deposit from public to which the provisions of Sec 58A & 58AA of the Companies Act, 1956 and the rules framed there under are applicable. 8. The Company is not required to have an internal audit system 9. As explained to us, the Company has not been prescribed by the Central Government to maintain cost records under Sec 209(1)(d) of the Companies Act 1956. 10. According to the information and explanations given to me, there are no undisputed amounts payable in respect of Income Tax, Sales Tax, Wealth Tax, Custom Duty, Excise duty which were outstanding as on MARCH 31,2011 for a period more than six months from the date they become payable. 11. According to the information and explanations given to me, no personal expenses of employees or directors have been charged to the revenue account, other than those payable under contractual obligations or in accordance with the generally accepted business practice. 12. The Company is not a sick industrial company within the meaning of clause (o) of sub section 3 of the Industrial Companies (special provision) Act, 1985 13. The Company does not have a system of allocating man-hours utilised to relaative jobs.

14. According to the records of the compay examined by us and the information and explanation given to us the company has not defaulted in repayment of dues to any financial institutions or bank or debenture holder as at the balance sheet date.

15. In our opinion, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

16. The Provisions of any special statute applicable to chit funds/ nidhi/ mutual benefit fund/ societies are not applicable to the company.

17. In our opinion, the company is not a dealer or traders in share, securities, debenture and other investments. 18. The company has not given any guarantee for the loans taken by others from banks or financial institutions during the period. 19. In our opinion and according to the information and explanation given to us, the company has not taken any term loan. 20. During the course of our examination of the books and records of the company, carried out in accordance with the generally accepted auditing practices in India, and we have neither come across any instance of fraud on or by the company, noticed or reported during the period nor we have informed of such case by the management. For H.K. Dedhia & Co. Chartered Accountants Hasmukh Dedhia Proprietor Place: Mumbai Date: 03.09.2011


Mar 31, 2010

1 I have audited the attached Balance Sheet of MATRU SMRITI TRADERS LTD. as at March 31, 2010 and the Profit and Loss Account for the year ended on that date.

These financial statements are the responsibility of the Company''s management. My Responsibility is to express an opinion on these financial statements based on my audit.

2 I conducted the audit in accordance with the auditing standards generally accepted in India. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test check 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 the management, as well as evaluating the overall financial statement presentation. I 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 company Law Board in terms of Section 227 (4A) of the Companies Act, 1956,1 enclose in the Annexture, a statement on the matters specified in paragraph 4 and 5 of the said Order.

4 Further to our comments in the Annexture referred to in paragraph 3 above:

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

b) In my opinion, proper books of accounts as required by Law have been kept by the company so far as it appears from my examination of such books;

c) In my opinion the Balance Sheet and Profit and Loss Account referred to in this report are in agreement with the books of account.

d) In my opinion the Balance Sheet and Profit and Loss Account comply with the Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956;

e) On the basis of written representation received from the Directors and taken on record by the The Board of Directors I report that none of the said directors of the Company are disqualified as on March 31, 2010 from being appointed as a Director under Clause (g) of Sub-Section (1) of Section 274 of the Companies Act, 1956

f) In our opinion the Cess payable is not applicable

g) In my opinion and to the best of my information and according to the explanations given to me, The said Balance Sheet and Profit and Loss Account read together with notes thereon, give 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 case of the Balance Sheet, of the state of affairs of the company as on March 31,2010 and

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

MATRU SMRITI TRADERS LTD.

ANNEXURE TO THE AUDITOR''S REPORT (REFERRED TO IN PARAGRAPH 1 OUR REPORT OF EVEN DATE)

1 The Company does not have any stocks.

2 In my opinion and according to the information and explanations given to me the company has a reasonable system of authorization at proper levels and there is adequate internal control procedure commensurate with the size of the company and the nature of its business with regards to the sale of services.

3 The Company has no transactions of purchase and sale of services made in pursuance of contracts and arrangements entered in the register mentioned under section 301 of the Companies Act and aggregating during the year to Rs 5,00,000 /- or more in respect of each party.

4 The Company has not taken unsecured loan from companies, listed in the register maintained under sec 301 of the Companies Act, 1956. In my opinion the rate of interest and the other terms & conditions of such loans are not prima facie prejudicial to the interest of the Company.

5 The Company has not granted unsecured loans to companies, listed in the register maintained under sec 301 of the Companies Act, 1956. In my opinion the rate of interest and the other terms & conditions of such loans are not prima facie prejudicial to the interest of the Company.

6 The Company has not given interest free loans to employees.

7 The Company has not accepted any deposit from public to which the provisions of Sec 58A & 58AA of the Companies Act, 1956 and rules framed thereunder are applicable.

8 The Company is not requireo to have an internal audit system.

9 As explained to us, the Company has not been prescribed by the Central Government to maintain cost records under Sec 209(1 )(d) of the Companies Act, 1956.

10 According to the information and explanations given to me, there are no undisputed amounts Payable in respect of Income Tax, Sales Tax, Wealth Tax, Custom Duty and Excise duty which were outstanding as at MARCH 31, 2010 for a period more than six months from the date they become payable

11 According to the information and explanations given to me, no personal expenses of employees or directors have been charged to the revenue account, other than those payable under Contractual obligations or in accordance with the generally accepted business practice.

12 The Company is not a sick industrial compnay within the meaning of clause (O) of sub sectton 3 of the sick industrial companies (special provision) Act, 1985.

13 The Company does not have a system of allocating man-hours utilised to relaative jobs.

14 According to the records of the company examined by us and the information and explanation given to us the company has not defaulted in repayment of dues to any financial institutions or bank or debenture holder as at the balance sheet date.

15 In our opinion, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

16 The Provisions of any sepcial statute applicable to chit funds/ nidhi / mutual benefit fund / societies are not applicable to the company.

17 In our opinion , the company is not a dealer or traders in share, secutities, debentures and other investments.

18 The Company has not given any guarantee for the loans taken by others from banks or financial institutions during the period.

19 In our opinion and according to the information and explanation given to us, the company has not taken any term loan.

20 During the course of our examination of the books and records of the company, carried out in accordance with the generally accepted auditing practices in India, and we have neither come across any instance of fraud on or by the company, noticed or reported during the period, nor we have informed of such case by the management.

For H.K. Dedhia & Co.

Chartered Accountants

Place: Mumbai

Dated: 04.08.2010 Hasmukh Dedhfa

Proprietor

 
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