Auditor Report of Aroma Enterprises (India) Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Aroma Enterprises (I) Limited (Earlier known as Sirhind Enterprises Ltd.) (the Company), which comprise the Balance Sheet as at March 31, 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 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 and presentation 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 maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting 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 adequate internal financial controls, 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.

AUDITORS' 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 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 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 Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence which we have obtained is sufficient and appropriate to provide a basis for our audit opinion on 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 31 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 the paragraph 3 and 4 of the Order, to the extent applicable.

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

a) We have sought & 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 it appears from our examination of those books;

c) The Balance Sheet, the Statement of Profit and Loss, and the 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 Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

e) On the basis of the written representations received from the directors as on March 31, 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; and

f) with respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us :

i. the Company has disclosed the impact, if any, of pending litigations, as at 31.03.2015, on its financial position in its financial statements;

ii. the Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts;

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

Annexure to Independent Auditors' Report

The Annexure referred to in our Independent Auditors' Report to the members of the Company on the financial statements for the year ended 31 March 2015, we report that:

1. In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. According to the information and explanation given to us, no material discrepancies were noticed on such physical verification.

2. In respect of its inventories:

a) The inventories have been physically verified during the period by the management. In our opinion, the frequency of verification is reasonable.

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

3. In respect of the loans, secured or unsecured, granted by the Company to companies, firms or other parties covered in the register maintained under Section 189 of the Companies Act, 2013:

a) The terms of arrangements do not stipulate any repayment schedule and the loans are repayable on demand. Accordingly, paragraph 3(iii)(b) of the Order is not applicable to the Company in respect of repayment of the principal amount.

b) There are no overdue amounts of more than rupees one lakh in respect of the loans granted to the parties listed in the register maintained under section 189 of the Act.

4. 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 the nature of its business for the purchases of inventory and fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, we have neither come across, nor have been informed of, any continuing failure to correct major weaknesses in the aforesaid internal control system.

5. According to the information and explanations given to us, the Company has not accepted any deposit from the public. Therefore, the provisions of Clause (v) of paragraph 3 of the CARO 2015 are not applicable to the Company.

6. The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Act and the same is not applicable to the Company.

7. In respect of statutory dues:

a) According to the information and explanations given to us and on the basis of records of the Company, undisputed statutory dues including Provident Fund, Employees' State Insurance, Income-Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess, and other material statutory dues have been regularly deposited with the appropriate authorities except TDS. 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 for a period of more than six months from the date of becoming payable except TDS amounting to Rs.273823/-.

b) Details of dues of Income Tax, Sale Tax, Custom Duty and Excise Duty which have not been deposited as on March 31, 2015 on account of disputes are given below:

Sr. Name of the Nature of Amt. Period to Forum where No. Statute the Dues (in Rs.) which dispute is the pending amount elates

1 - - - - -

c) According to the information and explanations given to us the amounts which were required to be transferred to the investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules there under has been transferred to such fund within time.

8. There are no accumulated losses in the books of Accounts of the Company. Company has not incurred any cash losses during the financial year and in the immediately preceding financial year.

9. Based on our audit procedures and according to the information and explanations given to us, we are of the opinion that the Company has not defaulted in repayment of dues to financial institutions, banks and debenture holders.

10. According to the information and explanation given to us by the management, Company has not given any guarantees for loans taken by others from banks and financial institutions during the year. Accordingly, the provisions of clause 3(x) of the Order are not applicable to the Company.

11. The Company has not raised any term loans during the Period so the question of application of same does not arise.

12. To the best of our knowledge and according to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the Period.

FOR S.D. MOTTA ASSOCIATES Chartered Accountants F.R.N. - 119681W

Date : 30/05/2015 Place : Dombivali

SANJAY MOTTA Proprietor Mem. No. 107688

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Mar 31, 2014

We have audited the accompanying financial statements of Aroma Enterprises (I) Limited (the Company), which compromise 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 referred to in sub - section (3C) of section 211 of the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13 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 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 audit''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 consider 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 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 statement of Profit and Loss, of the profits 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"), as amended, 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 & 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 accounts;

d. In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in sub - section (3C) of section 211 of the Companies Act, 1956;

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.

The Annexure referred to in paragraph 1 of the our Report of even date to the members of Aroma Enterprises Limited on the accounts of the company for the year ended 31st March, 2014.

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 did not have any fixed assets. Hence, reporting requirements related to maintaining records, physical verification and disposal thereof are not applicable.

[ii] [a] As explained to us, the company did not have any inventories. Hence, related clauses for the same are not applicable.

[iii] [a] As per the information and explanations given to us, the Company has not granted loans, secured or unsecured, to any companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956. Hence, the further relevant clauses are not applicable.

As per the information and explanations given to us, the Company has not taken loans, secured or unsecured, from any companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956 Terms and condition of the same are not prejudicial to the interest of the Company. Amount outstanding during the year is Rs. 11, 60,000/-.

[iv] In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business, in respect of purchase and sale of securities on behalf of clients and held as stock-in-trade, purchase of fixed assets and services. The Company''s business does not entail sale of goods, as such. Further we have not come across nor have we been informed of any instance of major weakness in the internal control procedures.

[v] [a] In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of the Companies Act, 1956 have been entered in the Register maintained under that Section;

[b] In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

[vi] According to the information and explanations given to us, during the period under review the Company has not accepted any deposits from the public under the meaning of Section 58A and 58AA of The Companies Act, 1956 and rules framed there under.

[vii] Although, the Company does not have a formal internal audit system, in our opinion, its internal control procedures involve reasonable internal checking of its financial and business transaction.

[viii] Maintenance of cost records has not been prescribed by the Central Government under clause [d] of sub- section [1] of Section 209 of the Companies Act, 1956 for the class of companies to which the Company belongs.

[ix] [a] According to the records of the Company, the company is regular, in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' Insurance, Income Tax, Sales- tax, Customs Duty, Cess, and other statutory dues applicable to it with the appropriate authorities.

[b] According to the information an explanations given to us, there are no undisputed statutory dues payable which are outstanding as at 31st March, 2014 for a period of more than six months from the date they became payable except TDS Payable of Rs. 29,500/-.

[c] The particulars of dues as at the year end, with regard to said items, which have not been paid on account of disputes, are as follows: Nil

[x] The company has no accumulated losses at the end of the Financial Year and it has not incurred any cash losses in the current and immediately preceding financial year.

(xi] As per the information and explanations given to us, the Company has not defaulted in the repayment of dues to financial institutions, banks or debenture holders during the period.

(xii] As per the information and explanations given to us, the Company has not granted any loan or advance on the basis of security by way of pledge of shares, debentures and other securities.

(xiii] The provisions of any special statute applicable to chit fund/nidhi/mutual benefit fund/societies are not applicable to the Company.

(xiv] The Company is not dealing in securities. Hence, clauses for proper records maintenance are not applicable. All securities have been held by the Company in its own name or are in the name of its nominees except to the extent of the exemption granted under Section 49 of the act.

(xv] As per the information given to us, the Company has not taken any term loan or given any guarantee for loans taken by others from banks or financial institutions.

(xvi] Company does not have any outstanding term loan during the year under review.

(xvii] In our opinion and according to the information and explanations given to us, the Company has not used any funds, raised on short term basis, for long term investment.

(xviii] The Company has made any preferential allotment of shares to parties covered in the register maintained under Section 301 of the Companies Act, 1956.

(xix] The Company has not issued any debentures during the period under review.

(xx] The Company has not raised any money by public issue during the period under review.

(xxi] According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the period under review.

For, S. D. Motta & Associates. Chartered Accountants

Sanjay D Motta Proprietor Membership No. 107688 Place: Dombivali Date: 30.05.2014

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Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of Aroma Enterprises Limited, which comprise the Balance Sheet as at March 31, 2013, 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 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 referred to in sub-section (3C) of Section 211 of the Companies Act, 1956. This responsibility included 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 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 control relevant to the Company''s preparation and fair circumstances. 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 has 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, subject to NIL, 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, 2013;

b) in the case of the Profit and Loss Account, of the profits 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, 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 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 Balance Sheet, statement of Profit and Loss, and cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956;

(e) On the basis of written representations received from the directors of the Company as on 31st March, 2013 and taken on record by the Board of Directors, none of the Directors of the Company is disqualified as on March 31, 2013, from being appointed as a Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

The Annexure referred to in paragraph 1 of the our Report of even date to the members of Aroma Enterprises Limited on the accounts of the company for the year ended 31st March, 2013.

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 did not have any fixed assets. Hence, reporting requirements related to maintaining records, physical verification and disposal thereof are not applicable.

(ii) (a) As explained to us, the company did not have any inventories. Hence, related clauses for the same are not applicable.

(iii) (a) As per the information and explanations given to us, the Company has not granted loans, secured or unsecured, to any companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956. Hence, the further relevant clauses are not applicable.

As per the information and explanations given to us, the Company has not taken loans, secured or unsecured, from any companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956. Hence, the further relevant clauses are not applicable.

(iv) In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business, in respect of purchase and sale of securities on behalf of clients and held as stock-in-trade, purchase of fixed assets and services. The Company''s business does not entail sale of goods, as such. Further we have not come across nor have we been informed of any instance of major weakness in the internal control procedures.

(v) (a) In our opinion and according to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of the Companies Act, 1956 have been entered in the Register maintained under that Section;

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

(vi) In our opinion and according to the information and explanations given to us, during the period under review the Company has not accepted any deposits from the public under the meaning of Section 58A and 58AA of The Companies Act, 1956 and rules framed there under.

(vii) Although, the Company does not have a formal internal audit system, in our opinion, its internal control procedures involve reasonable internal checking of its financial and business transaction.

(viii) Maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub-section (1) of Section 209 of the Companies Act, 1956 for the class of companies to which the Company belongs.

(ix) (a) According to the records of the Company, the company is regular, in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' Insurance, Income Tax, Sales-tax, Customs Duty, Cess, and other statutory dues applicable to it with the appropriate authorities.

(b) According to the information an explanations given to us, there are no undisputed statutory dues payable which are outstanding as at 31st March, 2013 for a period of more than six months from the date they became payable.

(c) The particulars of dues as at the year end, with regard to said items, which have not been paid on account of disputes, are as follows: Nil

(x) The company has no accumulated losses at the end of the Financial Year and it has not incurred any cash losses in the current and immediately preceding financial year.

(xi) As per the information and explanations given to us, the Company has not defaulted in the repayment of dues to financial institutions, banks or debenture holders during the period.

(xii) As per the information and explanations given to us, the Company has not granted any loan or advance on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) The provisions of any special statute applicable to chit fund/nidhi/mutual benefit fund/societies are not applicable to the Company.

(xiv) The Company is not dealing in securities. Hence, clauses for proper records maintenance are not applicable. All securities have been held by the Company in its own name or are in the name of its nominees except to the extent of the exemption granted under Section 49 of the act.

(xv) As per the information given to us, the Company has not taken any term loan or given any guarantee for loans taken by others from banks or financial institutions.

(xvi) In our opinion and according to the information and explanations given to us, and on the basis of overall fund flow position, we report that the term loans have been applied for the purpose for which they were raised.

(xvii) In our opinion and according to the information and explanations given to us, the Company has not used any funds, raised on short term basis, for long term investment.

(xviii) The Company has made during the financial year under review, no preferential allotment to parties covered in the register maintained under Section 301 of the Companies Act, 1956.

(xix) The Company has not issued any debentures during the period under review.

(xx) The Company has not raised any money by public issue during the period under review.

(xxi) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the period under review. Place: Dombivali For S. D. Motta & Associates.

Date: 30/05/2013 Chartered Accountants

Sanjay D Motta

Proprietor

Membership No. 107688

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Mar 31, 2012

1. We have audited the attached Balance Sheet of Aroma Enterprises Limited as at 31st March 2012 and the Profit and Loss Account for the period ended on that date annexed thereto Theses 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 out audit in accordance with the 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 misstatements. An audit includes examining on a test basis evidence supporting the amounts and disclosures in the financial statements An audit also including 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 as amended by the companies (Auditor''s Report) Amended 2004, issued by the Government of India in terms of sub-section (4A) of section 227 of the companies Act,1956 and on the basis of such checks are we considered appropriate and according to the information and explanation given to us 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 above we report that:

(a) We have obtained all the information and explanations which to the best of our knowledge’s 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 and the profit and Loss Account dealt with by this report are in agreement with the books of account:

(d) in our opinion the Balance Sheet and the profit and Loss Account dealt with by this report company with the Accounting Standards referred to in sub-section (3C) of section 211 of the companies Act,1956.

(e) On the basis of written representations received from the directors of the company as on 31st company is disqualified from being appointed as a Director in items of clause

(g) of sub-section (1) of section 274 of the companies Act,1956;

5. In our opinion and the best of our information and acceding to the explanations given to us the said accounts read together with the significant accounting policies and notes to the accounts subject to

NIL

given the information required by the companies Act,1956 in the manner so required and gives a true and fair view in conformity with the accounting principles generally accepted in India;

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

(ii) in the case of the profit and Loss Account, of the profits of the company for the period ended on that date;

(iii) in case of cash flow statement of the cash flows for the year ended on that date;

Annexure to the Auditors’ Report

(Referred to in paragraph 3 of our Report of even date)

(i) (a) The company did not have any fixed assets. Hence reporting requirements related to maintaining records, physical verification and disposal thereof are not applicable.

(ii) (a) As explained to us, the company did not have any inventories, Hence related clauses for the same are not applicable.

(iii) (a) As per the information and explanations given to us, the company has not granted loans, secured or unsecured to any companies firms or that parties covered in the Register maintained under section 301 of the companies Act,1956 Hence the further relevant clauses are not applicable.

As per the information and explanations given to the company has not taken loans secured or unsecured from any companies firms or other parties covered in the Register maintained under section 301 of the companies Act,1959.Hence the further relevant clauses are not applicable.

(v) In our opinion and according to the information and explanations given to us there is adequate internal control system commensurate with the size of the company and the nature of its business in respect of purchase and sale of securities on behalf of clients and held as stock-in-trade purchase of fixed assets and services. The company''s business does not entail sale of goods as such Further we have not come across nor have we been informed of any instance of major weakness in the internal control procedures.

(v) (a) In our opinion and according to the information and explanations given to us the particulars of contracts or arrangements referred to in section 301 of the companies Act,1956 have been entered in the Register maintained under that section;

(b) In our opinion and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the companies Act,1956 have been made at prices which are reasonable having regard to the prevailing marked prices the relevant time.

(vi) In our opinion and according to the information and explanations given to us during the period under review the company has accepted any deposits from the public under the meaning of section 58A and 58AA of the companies Act,1956 and rules framed there under.

(vii) Although the company does not have a formal audit system in our opinion. Its internal control procedures involve reasonable internal checking of its financial and business transaction.

(viii) Maintenance of cost records has not been prescribe by the central Government under clause (d) of sub-section (1) of section 209 of the companies Act,1956 for the class of companies to which the company belongs.

(ix) (a) According to the records of the company the company is regular in depositing undisputed statutory dues including provident Fund investor Education and Protection Fund Employees Insurance income Tax sales-tax customs Duty cess mind other statutory dues applicable to it with the appropriate authorities.

(b) According to the information an explanations given to us, there are no undisputed statutory dues payable which are outstanding as at 31st March 2012 for a period of more than six months from the date they become payable.

(c) The particulars of dues as at year end with regards to said items which have not been paid on account of disputes are as following;

(x) The company has no accumulated losses at the end of the Financial year and it has not incurred any cash losses in the current and immediately preceding financial year.

(xi) As per the information and explanations given to us, the company has not granted any loan or advance on the basis of security by way of pledge of shares debentures and other secretions.

(xii) As per the information and explanations given to us, the company has not granted any loan or advance on the basis of security by way of pledges of share debentures and other securities.

(xiii) The provisions of any special statute applicable to chit fund/nidhi/mutual benefit societies are not applicable to the company.

(xiv) The company is not dealing in securities hence clauses for proper records maintenance are not applicable All securities have been by the company in its own name are in the name of its nominees except to the extent of the exemption granted under section 49 of the act.

(xv) As per the information given to us, the company has not taken any term loan or given any guarantee for loans taken by others from banks or financial institutions.

(xvi) In our opinion and according to the information and explanations given to us, and on the basis of overall fund flow position we report that the term loans have been appliquéd for the purpose for which they were raised.

(xvii) In our opinion and according to the information and explanations given to us, the company has not used any funds raised on short term basis for long term investment.

(xiii) The company has made during the financial year under review no preferential allotment to parties covered in the register maintained under section 301 of the companies Act,1956;

(xix) The company has not issued any debentures during the period under review.

(xx) The company has not raised any money by public issue during the period under review.

(xxi) According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the period under review.

FOR DAD DAK & ASSOCIATES

Chartered Accountants



ANIL R.DAD

Partner

Mem No.401489

Place : Surat

DATE :29/06/2012