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Auditor Report of Arun Varun Trade & Investment Ltd. Company
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Auditor Report of Arun Varun Trade & Investment Ltd.

Mar 31, 2015

We have audited the accompanying Financial Statement of ARUN VARUN TRADE & INVESTMENT LIMITED (the "Company") which comprise the Balance Sheet as at 31st March, 2015, the statement of Profit and Loss for the year ended, Cash Flow Statement for the year ended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Financial Statements:

* The Company's Board of directors are 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 gives a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred in Section 133 of the Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules 2014. This responsibility also includes the maintenance of the adequate accounting records in accordance with the provisions of the act for safeguarding the assets of the company and preventing & detecting the frauds and other irregularities; selection and application of appropriate accounting policies; making judgement and estimates that are reasonable & prudent; and design implementation and maintenance of the internal financial control, that were operating effectively for ensuring the accuracy & completeness of the accounting records, relevant to the preparation & presentation of the financial statements that give a true & fair view and are free from material misstatements, whether due to fraud or error.

Auditors' Responsibility:

Our responsibility is to express an opinion on these standalone financial statements based on our audit. We have taken into account the provisions of the act, the accounting & auditing standards and matters which are required to be included in the audit report under the provisions of the act and rules made there under.

We conducted our audit is in accordance with the Standards on Auditing specified under 143(10) of the Companies Act 2013 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 auditors' judgment, including the assessment of the risks of material misstatement of the financial statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity'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 explanation given to us, the aforesaid standalone 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: j

i. in the case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2015; and

ii. in the case of Statement of Profit and Loss, profit of the company for the year ended on that date.

iii. in the case of cash flow, cash flows of the company for the year ended on that date.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor Report) Order 2015 ("the Order") issued by the Central Government of India in terms of the sub-section (11) of section 143 of the Act, we give in the annexure statement on the matters specified in the paragraphs 3 and 4 of the order to the extent applicable.

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

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

ii. 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;

iii. The Balance Sheet and Statement of Profit and Loss, and Cash Flow Statements dealt with by this report are in agreement with the books of account;

iv. In our opinion, the aforesaid standalone financial statements comply with the accounting standards specified under section 133 of the Act, read with Rule 7 of the companies (Accounts) Rules, 2014.

v. On the basis of written representations received from the directors, as on 31st March 2015 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March 2015 from being appointed as a director in terms of of sub-section (2) of section 164 of the companies Act, 2013;

vi. 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:

a. Company does not have any pending litigations which would impact its financial position;

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

c. There were no amounts which 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 Auditor's Report of even date to the members of the company on the standalone financial statements for the year ended 31st March 2015, in the paragraph 1 under the heading "Report on other legal & regulatory requirements" of the ARUN VARUN TRADE & INVESTMENT LIMITED]

i) a) The Company has maintained proper records showing full particulars including quantitative

details and situation of fixed assets.

b) All the assets have been physically verified by the management during the year. No material discrepancies were noticed on such verification.

ii) a) The Stock-in trade i.e., inventories have been physically verified during the year by the

Management. In our opinion, the frequency of verification is reasonable.

b) In our opinion and according to the information and explanation given to us, the procedure of physical verification of stocks followed by the Management is reasonable and adequate in relation to the size of the company and nature of its business.

c) No discrepancies were noticed between the book records and physical records. On the basis of our examination Company is maintaining proper records of the inventory.

iii) a) There is no entity covered in the register maintained under section 189 of the Company's Act 2013, to which company has granted the loans.

b) The Company has not granted any loans; hence the question of prima facie prejudicial to the interest of the company does not arise.

c) The Company has not granted any loans; hence the question of regularity in receipt of the principle amount and interest also does not arise.

d) The Company has not granted any loans; hence the question of overdue amount more than rupees one lakh and recovery thereof does not arise.

iv) In our opinion, and according to the information and explanations given to us there are adequate internal control system commensurate with the size of the company and nature of its business and regard to purchase of inventory, 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 explanation given to us, we have neither come across nor have been informed of any continuing failure major weakness in the aforesaid internal control system.

v) In our opinion and according to information given to us during the course of audit, the company has not accepted any deposit within the meaning of provisions of Section 73 to Section 76 or any other relevant provisions under the companies Act 2013.

vi) To the best of our knowledge and according to information given to us during the course of audit, the Central Government has not prescribed the maintenance of cost records under Section 148 (1) of the Companies Act, 2013 for the products of the company.

vii) (a) The company is regular in depositing with the appropriate authorities undisputed statutory dues including provident fund, employee's state insurance, income tax, sales tax, service tax, custom duty, cess and other material statutory dues applicable to it. In our opinion and according to the information and explanations given to us during the course of audit, the provisions of, wealth tax, excise duty and employees' state insurance are not applicable to the company. According to the information and explanation given to us during the course of audit, no undisputed amounts payable in respect of statutory dues were in arrears, as at 31st March, 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us during the course of audit, there are no dues of income tax, sales tax, service tax, excise duty, custom duty and cess which have not deposited on account of any dispute.

(C)There are no amounts that are due 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 made there under.

viii) The company is profit making. The company has not incurring any cash losses during the financial year covered by our audit and the immediately preceding financial year.

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

x) In our opinion and according to the information and explanations given to us during the course of audit, the company has not given guarantees for any third party loans.

xi) In our opinion and according to the information and explanations given to us during the course of audit, there is no Term Loans.

xii) 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.

For S.Ramanand Aiyar & Co. Chartered Accountants (FRN:000990N)

Bined C.Maharana Partner (Membership No.: 056373)

Place: Mumbai Date: 29/05/2015


Mar 31, 2014

1. We have audited the accompanying Financial Statement of ARUN VARUN TRADE & INVESTMENT LIMITED (the "Company") which comprise the Balance Sheet as at 31st March, 2014, the statement of Profit and Loss and Cash Flow Statement for the year ended, and summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements:

2. Management is responsible for the preparation of these Financial Statements that gives a true and fair view of the financial position and financial performance and cash flow of the company in accordance with the accounting standards referred in sub-section (3C) of section 211 of 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 financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors'' Responsibility:

3. 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.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The Procedures selected depend on the auditors'' judgment, including the assessment of the risks of material misstatement of the financial statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity''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.

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

6. In our opinion and to the best of our information and according to the explanation given to us, the financial statement give the information required by the act in the manner so required and give a true and fair view in conformity with the accounting policies generally accepted in India:

i. in the case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2014.

ii. in the case of statement of profit and loss, of the profit of the company for the year ended on that date; and

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

Report on Other Legal and Regulatory Requirements:

7. 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 company Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraph 4 and 5 of the said order.

8. As required by section 27 (3) of the Act Further to our comments in the annexure referred to 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 our audit;

ii. 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 and proper returns adequate for the purpose of our audit have been received from the branches not visited by us;

iii. The Balance Sheet and Statement of Profit and Loss, dealt with by this report are in agreement with the books of account;

iv. In our opinion, the Balance Sheet, Statement of Profit and Loss & Cash Flow Statement dealt with by this report comply with the Accounting Standards sub-section (3C) of section 211 of 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.

v. On the basis of written representations received from the directors, as on 31st March, 2014 and taken on record by the Board of Directors, we report that 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 Companies Act, 1956;

Annexure to Auditor''s Report.

(Referred to in paragraph 7 of our report of even date)

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

b) All the assets have been physically verified by the management during the year. No material discrepancies were noticed on such verification.

c) The Company has not disposed of substantial part of fixed assets during the year and the going concern of the company is not affected.

ii) a) The Stock-in trade i.e., stock of shares, securities etc have been physically verified during the year by the Management. In our opinion, the frequency of verification is reasonable.

b) In our opinion and according to the information and explanation given to us, the procedure of physical verification of stocks followed by the Management is reasonable and adequate in relation to the size of the company and nature of its business.

c) No discrepancies were noticed between the book records and physical records. On the basis of our examination of the stock records, we are of the opinion that such valuation is fair and proper in accordance with the normally accepted accounting principles and is on the basis as in the previous year.

iii) a) The Company has not granted unsecured loans to Companies, firms and other parties listed in the register maintained under Section 301 of the Act.

b) Since the Company has not granted any loans so the question of prima facie prejudicial to the interest of the company does not arise.

c) The Company has not taken any loans from Companies, firm and other parties so the question of prima facie prejudicial to the interest of the company does not arise.

iv) 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 and regard to purchase of inventory, 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 explanation given to us, we have neither come across nor have been informed of any continuing failure major weakness in the aforesaid internal control procedures.

v) In our opinion and according to the information and explanations given to us, there are no transactions that weed to be entered into register in pursuance of Section 301 of the Act. Accordingly Clause (v) (b) of the Companies (Auditor''s Report) Order, 2003 is not applicable to the Company for the current year.

vi) In our opinion and according to information given us during the course of audit, the company has not accepted any deposit within the meaning of provisions of Section 58 A of the companies Act 1956 and the companies (Acceptance of Deposits) Rules 1975.

vii) The company has an internal audit system which, in our opinion, is commensurate with the size and nature of its business.

viii) We have been informed that the Central Government has not prescribed the maintenance of cost records by the company under section 209(1) (d) of the Act for the Company.

ix) a. According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing the 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, professional-tax, cess and other material statutory dues as applicable with the appropriate authorities.

b. According to the information and explanation given to us, there are no disputed outstanding amount payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, Excise Duty and cess were outstanding as at 31st March, 2014.

x) The Company has no accumulated losses as at the end of the year and it has not incurred any cash losses in the financial year ended on that date or in immediately preceding financial year.

xi) According to the records of the Company examined by us and the information and explanation given to us, the company has not defaulted in repayments of the dues to financial institution or bank or debenture holder.

xii) The Company has not granted any loans and advances on the basis by way of pledge of shares, debentures and other securities.

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

xiv) In respect of the activities of the Company regarding dealing in shares, securities, debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein and the shares, securities, debentures and other investments have been held by the Company in its own name.

xv) The Company has not given any guarantee for loans taken by others from bank or financial institutions.

xvi) In our Opinion and according to the information and explanations given to us during the course of audit, on the overall basis, the term loan has been applied for the purpose for which they are obtained.

xvii) On the basis of an overall examination of the balance sheet of the Company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis which have been used for long term investment.

xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the registered maintained under section 301 of the Act during the year.

xix) The Company has not issued any debentures which have remained outstanding at the year end.

xx) The company has not raised any money by public issues during the year.

xxi) During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices, and according to the information and explanation given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For M/s S. Ramanand Aiyar & Co. Chartered Accountants (FRN 000990N)

B.J. Vyas (Partner) Mem No. 33533

Place: Mumbai Date: 30-05-2014.


Mar 31, 2012

We have audited the attached BALANCE SHCCT of ARUN VARUN TRADE & INVESTMENT LTD. (hereinafter referred to as the Company') as at 31st March' 2012 and also the STATEMENT OF PROFIT AND LOSS of the Company and CASH FLOW STATEMENT for the year ended on that date annexed thereto.

1. 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 & 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 amount 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 statements presentation. We believe that our audit provides reasonable basis for our opinion.

3- As required by the Companies(Auditor's Report) Order' 2003' as amended by the Companies (Auditors Report's) (Amendment) order. 2004 ? issued by the Central Government of India in terms of sub-section (4A) of Section 227 of The Companies Act' 1956" of India (the "Act") and on the basis of such checks of the books and records of the Company as 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 paragraph 4 and 5 of the said order.

4. Further to our comments in the annexure referred to above' we report that:

l We have obtained all the information and explanation' which to the best of our knowledge and belief were necessary for the purpose of our audit;

ii' 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 and proper returns adequate for the : purpose of our audit have been received from the branches not visited by us;

iii. The Balance Sheet and Statement of Profit And Loss' dealt with by this report are in agreement with the books of account;

iv. In our opinion' the Balance Sheet and Statement of Profit And Loss dealt with by this report comply with the Accounting Standards sub-section (3C) of section 211 of the Companies Act' 1956;

v. On the basis of written representations received from the directors' as on 31st March 2012 and taken on record by the Board of Directors' we report that none of the Directors are disqualified as on 3 Ist March 2012 from being appointed as a director in terms of clause (g) of sub-section(l) of section 274 of the companies Act. 1956;

Auditor's Report To the Members ofARUNVARUN TRADE A INVESTMENT LTD.

vi' In our opinion and to the best of our information and according to the explanation given to us' the said accounts 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;

a. In the case of Balance Sheet' of the state of affairs of the company as at 31 March 2012;

b In the case of Statement of Profit and Loss' of the profit for the year ended on that date.

c. In the case of cash flow statement' of the cash flow for the year ended on that date.

Auditor's Report To the Members ofARUNVARVN TRADE & INVESTMENT LTD.

Annexure to Auditors Report.

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

i) The Companies doesn't have any fixed assets and as such the matters contained in Clause 4(i) (ii) of (iii) are not applicable to the Company for the year

ii) a) The Stock-in trade I.e.' stock of shares' securities etc have been physically verified during the year by the Management. In our opinion' the frequency of verification is reasonable.

b) In our opinion and according to the information and explanation given to us' the procedure of physical verification of stocks followed by the Management is reasonable and adequate in relation to the size of the company and nature of its business.

c) No discrepancies were noticed between the book records and physical records. On the basis of our examination of the stock records' we are of the opinion that such valuation is fair and proper in accordance with the normally accepted accounting principles and is on the basis as in the previous yean

iii)

a) The Company has not granted unsecured loans to Companies' firms and other parties listed in the registered maintained under Section 301 of the Act.

b) Since the Company has not granted any loans so the question ofprima facie prejudicial to the interest of the company does not arise.

c) The Company has not taken any loans from Companies' firm and other parties so the question ofprima facie prejudicial to the interest of the company does not arise'

iv) 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 and regard to purchase of inventory' 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 eNplanation given to us' we have neither come across nor have been informed of any continuing failure major weakness in the aforesaid internal control procedures.

v) In our opinion and according to the information and explanations given to us' there are no transactions that need to be entered into register in pursuance of Section 301 of the Act' Accordingly Clause (v) (b) of the Companies (Auditor's Report) Order' 2003 is not applicable to the Company for the current yean

vi) In our opinion and according to information given us during the course of audit' the company has not accepted any deposit within the meaning of provisions of Section 58 A of the companies Act 1956 and the companies (Acceptance of Deposits) Rules 1975

vii) The company has an internal audit system which' in our opinion' is commensurate with the size and nature of its business.

vtii) We have been informed that the Central Government has not prescribed the maintenance of cost records by the company under section 209(1) (d) of the Act for the Company.

a. According to the information and explanations given to us and the records of the Company examined by us' in our opinion' the Company is generally regular in depositing the 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' professional-tax' cess and other material statutory dues as applicable with the appropriate authorities.

b' According to the information and explanation given to us' there are no disputed outstanding amount payable in respect of Income Tax' Wealth Tax' Sales Tax' Custom Duty' Excise Duty and cess were outstanding as at 31sc March' 2012..

x) The Company has made profit at the end of the financial year and has accumulated losses in the immediately preceding year.

xi) According to the records of the Company examined by us and the information and explanation given to us' the company has not borrowed any fund from financial institution or bank or debenture holder.

xii) The Company not granted any loans and advances on the basis by way of pledge of shares' debentures and other securities.

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

xiv) In respect of the activities of the Company regarding dealing in shares' securities' debentures and other investments' proper records have been maintained of the transactions and contracts and timely entries have been made therein and the shares' securities' debentures and other investments have been held by the Company in its own name.

xv) The Company has not given any guarantee for loans taken by others from bank or financial institutions.

xvi) The Company has not taken any term loans during the year.

xvii) On the basis of an overall examination of the balance sheet of the Company' in our opinion and according to the information and explanations given to us' there are no funds raised on a short-term basis which have been used for long term investment.

xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the registered maintained under section 301 of the Act during the year.

xix) The Company has not issued any debentures which have remained outstanding at the year end.

xx) The company has not raised any money by public issues during the year.

xxi) During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices' and according to the information and explanation given to us' we have neither come across any instance of fraud on or by the Company' noticed or reported during the year' nor have we been Informed of such case by the management.

FOR S.RAMANAND AlYAR & CO

(CHARTERED ACCOUNTANTS)

(FIRM REG NO - 000990 N)


Mar 31, 2011

Auditor's Report To the Members of ARUNVARUN TRADE & INVESTMENT LIMITED.

We have audited the attached BALANCE SHEET of ARUN VARUN TRADE & INVESTMENT LIMITED (hereinafter referred to as the (Company') as at 31st March. 2011 and also the PROFIT AND LOSS ACCOUNT of the Company and CASH FLOW STATEMENT for the year ended on that date annexed thereto.

1. 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 & perform the audit to obtain reasonable assurance about whether the financial statements are free of material miss-statement. An audit includes examining, on a test basis, evidence supporting the amount 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 statements presentation. We believe that our audit provides reasonable basis for our opinion.

3. As required by the Companies(Auditor's Report) Order. 2003, as amended b_ the Companies (Auditors Report's) (Amendment) order. 2004, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of "The Companies Act. 1956" of India (the "Act") and on the basis of such checks of the books and records of the Company as 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 paragraph 4 and 5 of the said order.

4. Further to our comments in the annexure referred to 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 our audit:

ii. 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 and proper returns adequate for the purpose of our audit have been received from the branches not visited by us:

iii. I he Balance Sheet and Profit And Loss Account, dealt with by this report are in agreement with the books of account:

iv. In our opinion, the Balance Sheet and Profit And Loss Account dealt with by this report comply with the Accounting Standards sub-section (3C) of section 21 I of the Companies Act, 1956;

v. On the basis of written representations received from the directors, as on 31st March 2011 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March 2011 from being appointed as a director in terms of clause (g) of sub-section( I) of section 274 of the companies Act. 1956:

vi. In our opinion and to the best of our information and according to the explanation given to us, they said accounts 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; '

a. In the case of Balance Sheet, of the state of affairs of the company as at 31st March

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

c. In the case of cash flow statement, of the cash flow for the year ended on that date.

Annexure to Auditor's Report.

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

i) The Companies doesn't have any fixed assets and as such the matters contained in Clause 4(i) (ii) & (iii) are not applicable to the Company for the year.

ii) a) The Stock-in trade i.e.. stock of shares, securities etc have been physically verified during the year by the Management. In our opinion, the frequency of verification is reasonable.

b) In our opinion and according to the information and explanation given to us. the procedure of physical verification of stocks followed by the Management is reasonable and adequate in relation to the size of the company and nature of its business.

c) No discrepancies were noticed between the book records and physical records. On the basis of our examination of the stock records, we are of the opinion that such valuation is fair and proper in accordance with the normally accepted accounting principles and is on the basis as in the previous year.

iii)

a) The Company has not granted unsecured loans to Companies, firms and other parties listed in the registered maintained under Section 301 of the Act.

b) Since the Company has not granted any loans so the question of prima facie prejudicial to the interest of the company does not arise.

c) The Company has not taken any loans from Companies, firm and other parties so the question of prima facie prejudicial to the interest of the company does not arise.

iv) 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 and regard to purchase of inventory, 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 explanation given to us we have neither come across nor have been informed of any continuing failure major weakness in the aforesaid internal control procedures.

v) In our opinion and according to the information and explanations given to us there are no transactions that need to be entered into register in pursuance of Section 301 of the Act. Accordingly Clause (v) (b) of the Companies (Auditor's Report) Order. 2003 is not applicable to the Company for the current year.

vi) In our opinion and according to information given us during the course of audit the company has not accepted any deposit within the meaning of provisions of Section 58 A of the companies Act 1956 and the companies (Acceptance of Deposits) Rules 1975

vii) The company has an internal audit system which, in our opinion, is commensurate with the size and nature of its business.

viii) We have been informed that the Central Government has not prescribed the maintenance of cost records by the company under section 209(1) (d) of the Act for the Company.

ix)

a. According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing the 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, professional-tax. cess and other material statutory dues as applicable with the appropriate authorities.

b. According to the information and explanation given to us, there are no disputed outstanding amount payable in respect of Income Tax. Wealth lax. Sales Tax. Custom Duty, Excise Duty and cess were outstanding as at 31st March, 2011..

x) The Company has made profit at the end of the financial year and has accumulated losses in the immediately preceding year.

xi) According to the records of the Company examined b us and the information and explanation given to us, the company has not borrowed any fund from financial institution or bank or debenture holder.

xii) The Company not granted any loans and advances on the basis by way of pledge of shares, debentures and other securities.

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

xiv) In respect of the activities of the Company regarding dealing in shares, securities. debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein and the shares. securities, debentures and other investments have been held by the Company in its own name.

xv) The Company has not given any guarantee for loans taken by others from bank or financial institutions.

xvi) The Company has not taken any term loans during the year.

xvii) On the basis of an overall examination of the balance sheet of the Company, in our opinion and according to the information and explanations given to us. there are no funds raised on a short-term basis which have been used for long term investment.

xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the registered maintained under section 301 of the Act during the year.

xix) The Company has not issued any debentures which have remained outstanding at the year end.

xx) The company has not raised any money by public issues during the year.

xxi) During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices, and according to the information and explanation given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For S.RAMANAND AIYAR & CO

(Chartered Accountants)

(Firm Reg No - 000990 N) (B.IVYAS)

Partner

Membership No.. 33533 Place: Mumbai.

Date : 10/08/2011


Mar 31, 2009

We have audited the attached BALANCE SHEET of ARUN VARUN TRADE & INVESTMENT LIMITED (hereinafter referred to as the Company) as at 31st March, 2009 and also the PROFIT AND LOSS ACCOUNT of the Company and CASH FLOW STATEMENT for the year ended on that date annexed thereto.

1. These financial statements are the responsibility of the Companys 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 & 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 amount 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 statements presentation. We believe that our audit provides reasonable basis for our opinion.

3. As required by the Companies(Auditors Report) Order, 2003, as amended by the Companies (Auditors Reports) (Amendment) order, 2004, issued by the Central Government of India in terms of sub-section (4 A) of Section 227 of "The Companies Act, 1956" of India (the "Act") and on the basis of such checks of the books and records of the Company as 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 paragraph 4 and 5 of the said order.

4. Further to our comments in the annexure referred to 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 our audit;

ii. 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 and proper returns adequate for the purpose of our audit have been received from the branches not visited by us;

iii. The Balance Sheet and Profit And Loss Account, dealt with by this report are in agreement with the books of account;

iv. In our opinion, the Balance Sheet and Profit And Loss Account dealt with by this report comply with the Accounting Standards sub-section (3 C) of section 211 of the Companies Act, 1956;

v. On the basis of written representations received from the directors, as on 31st March 2009 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March 2009 from being appointed as a director in terms of clause (g) of sub-section(l) of section 274 of the companies Act, 1956;

vi. In our opinion and to the best of our information and according to the explanation given to us, the said accounts 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 a. In the case of Balance Sheet, of the state of affairs of the company as at 31st March 2009;

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

c. In the case of cash flow statement, of the cash flow for the year ended on that date.

Annexure to Auditors Report.

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

i) The Companies doesnt have any fixed assets and as such the matters. contained in Clause 4(i) are not applicable to the Company at present.

ii) a) The Stock-in trade i.e., stock of shares, securities etc have been physically verified during the year by the Management. In our opinion, the frequency of verification is reasonable.

b) In our opinion and according to the information and explanation given to us, the procedure of physical verification of stocks followed by the Management is reasonable and adequate in relation to the size of the company and nature of its business.

c) No discrepancies were noticed between the book records and physical records. On the basis of our examination of the stock records, we are of the opinion that such valuation is fair and proper in accordance with the normally accepted accounting principles and is on the basis as in the previous year.

iii) a) The Company has not granted unsecured loans to Companies, firms and other parties listed in the registered maintained under Section 301 of the Act.

b) Since the Company has not granted any loans so the question of prima facie prejudicial to the interest of the company does not arise.

c) The Company has not taken any loans from Companies, firm and other parties so the question of prima facie prejudicial to the interest of the company does not arise.

iv) 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 and regard to purchase of inventory, 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 explanation given to us, we have neither come across nor have been informed of any continuing failure major weakness in the aforesaid internal control procedures.

v) In our opinion and according to the information and explanations given to us, there are no transactions that need to be entered into register in pursuance of Section 301 of the Act. Accordingly Clause (v) (b) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company for the current year.

vi) In our opinion and according to information given us during the course of audit, the company has not accepted any deposit within the meaning of provisions of Section 58 A of the companies Act 1956 and the companies (Acceptance of Deposits) Rules 1975

vii) The company has an internal audit system which, in our opinion, is commensurate with the size and nature of its business.

viii) We have been informed that the Central Government has not prescribed the maintenance of cost records by the company under section 209(l)(d) of the Act for the Company.

ix) a. According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing the 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, professional-tax, cess and other

x> material statutory dues as applicable with the appropriate authorities.

b. According to the information and explanation given to us, there are no disputed outstanding amount payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, Excise Duty and cess were outstanding as at 31st March, 2009.

x) The Company neither has accumulated losses as at the end of the financial year nor has incurred cash losses during the financial year and in the immediately preceding year.

xi) According to the records of the Company examined by us and the information and explanation given to us, the company has not borrowed any fund from financial institution or bank or debenture holder.

xii) The Company not granted any loans and advances on the basis by way of pledge of shares, debentures and other securities.

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

xiv) In respect of the activities of the Company regarding dealing in shares, securities, debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein and the shares, securities, debentures and other investments have been held by the Company in its own name.

xv) The Company has not given any guarantee for loans taken by others from bank or financial institutions.

xvi) The Company has not taken any term loans during the year.

xvii) On the basis of an overall examination of the balance sheet of the Company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis which have been used for long term investment.

xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the registered maintained under section 301 of the Act during the year.

xix) The Company has not issued any debentures which have remained outstanding at the year end.

xx) The company has not raised any money by public issues during the year.

xxi) During the course of our examination of the books of accounts carried out in accordance with generally accepted auditing practices, and according to the information and explanation given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For Bharat Vyas & Associates (Chartered Accountants)

Proprietor Membership No.: 33533

Place : Mumbai. Date : 04/08/09 .

 
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