Auditor Report of Atlanta Devcon Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of ATLANTA DEVCON LIMITED which comprise the Balance Sheet as at 31 March 2015,the Statement of Profit and Loss, the Cash Flow Statement for the year then ended,and a summary of significant accounting policies an do ther 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 ("theAct") with respect to the preparation of these financial statements that give a true and fair view of the flnancial position, flnancial performance and cashflows of the Company in accordance with the accounting principles generally accepted in India, induding the Accounting Standards specifled under Section 133 of the Act,read with Rule 7 of the Companies (Accounts) Rules,2014. This responsibility also includes the maintena nce of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and otherirregularities;selectionand application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design,implementation and mainte nance of adequate internal flnancial control,that were operating effectively for ensuring the accuracy a nd completeness of the accounting records, relevant to the preparation and presentation of the financials tatements that give atrue and fairviewand are free from material misstatement, whetherdue to fraud orerror.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statementsbased on ouraudit.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 Rule smade there under.

We conducted our audit in accordance with the Standards on Auditing specified undersection143(10) of the Act.Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free frommat erialmisstatement.

Anaudit involves performing procedures to obtain audit evidence about the a mounts 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 fraudor error. Inmaking those risk assessments,the auditor consider sinternal financial control relevant to theCompany's prepar ation of the financial statements that give true and fair viewin order to design audit procedures that are appropriate in the cir cumstances, 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 include sevaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company's Directors, as well as evaluating the overall presentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanations given t ous,th eaforesaid financial statements, give the information required by the Act in the manners ore qui redandgive a true and fairviewin conformity with the accounting principles generally accepted in India;

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

b) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and

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

Report on other Legal and Regulatory Requirements

1.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 o urknowledge and belief were necessary for the purposes of our audit.

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

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

d) In our opimon,the afore said fmancial statements comply with the Accounting Stand ar ds specifled under Section 133 of the Act, read with Rule 7 of theCompanies(Accounts) Rules, 2014.

e) On the basis of written representations received from the directors ason31March,201 5,takenon record by the Board of Directors,none of the directors is disqualifled as on 31 March, 2015, from being appointed as a directoin terms of Section 164(2) of the Act

Sd/- Place: AHMEDABAD. For Praful N. Shah & Co. Date: 13-05-2015 Chartered Accountants (FRN NO.:108057W)

Praful N. Shah (Proprietor) M. No. - 015591 Flat No.2,First Floor,10 Residency, Opp. Komal Flats,Nr.Suraj Party Plot, Sugam Flats Road, Vasna, Ahmedabad-380007.

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Mar 31, 2014

We have audited the accompanying financial statements of Atlanta Devcon Ltd ("the Company"), which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statement

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and 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.

Auditor''s Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. 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; and

b) in the case of the Profit and Loss Account, of the loss for the year ended on that date; Report on the Legal & Regulatory Requirements

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

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

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

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

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

d) in our opinion, the Balance Sheet and Statement of Profit and Loss comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 in respect of accounting for employee bebefits as required by AS 15 (Revised) issued by The Institute of Chartered Accountants of India.

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

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

For Praful N. Shah & Co. Chartered Accountants FRN : 108057W

(Praful N Shah)

Place: Ahmedabad (Proprietor)

Date : 15/05/2014 M.No.015591

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Mar 31, 2013

1. We have audited the attached Balance Sheet of ATLANTA DEVCON LTD. (previously known as Dharanidhar Global & Infraprojects Ltd. ) as at 31st March, 2013 & the Profit & Loss Account and the Cash Flow Statement of the Company for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our 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 misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the manufacturing and other Companies (Auditor''s Report) order, 2004 (together the "Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies act, 1956, 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 explanations given to us, we enclose in the Annexure a statements on the matters specified in paragraphs 4 and 5 of the said order.

4 (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 and Profit & Loss Account dealt with this report are in agreement with the books of accounts.

(d) In our opinion, the Balance Sheet, and Profit & Loss Account and cash flow statement dealt with by this report comply with the applicable Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956.

(e) On the basis of written representations received from the directors, as on 31st March, 2013 and taken on records by the Board of Directors, we report that none of directors is disqualified as on 31st March, 2013 from being appointed as director in terms of clauses (g) of subsection (1) of section 274 of the Companies Act, 1956.

(g) In our opinion and to the best of our information and according to the explanations given to us, they said financial statements, together with the notes thereon and attached thereto give in the prescribed manner the information required by the Act and a true and fair view in conformity with the accounting principles generally accepted in India, subject to Para : 6 of Schedule : 9 (regarding loans / advances and especially of old loan amounts Rs. 20,16,674/-, which has been considered as good of recovery by the management but due to no recovery till date, they appears to be doubtful. Likewise a sum of Rs. 2,74,411/- recoverable from Stock Exchange, paid as Security at the time of Public Issue, also appears to be doubtful of recovery. For these amounts of Rs. 22,91,085/- no provision have been made in the accounts and due to non-provision, the profit of the year has been overstated to that extent. ''

Subject to above Remark

i) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2013.

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

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

1. FIXED ASSETS:-

As there is no Fixed Assets in the Company, the matter of maintenance of Fixed Assets Register, physical verification and sales during the year are not applicable.

2. NATURE OF BUSINESS:-

The Company has not carried out any activities during the year. Under the circumstances, the following matters are not applicable

i) Procedure for the purchases of stores / raw materials & finished products and its compression with record,

ii) Physical verification of above items.

iii) Maintenance of records of scrap / waste generated from the manufacturing activities.

iv) Maintenance of Cost Records.

v) Valuation of above items.

3. According to the information and explanations given to us the Company has not granted any loans to companies covered in the register maintained under Section 301 of the Companies Act, 1956.

4. According to the information and explanations given to us, the Company has not taken any loans from companies,, firms or other parties listed in the register maintained under Section 301 (IB) of the Companies Act, 1956.

5. According to the information and explanations given to us, the Company has not accepted any deposits from the public. Therefore, the provisions of Clause (vi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company.

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

7. The company is not a sick industrial company within the meaning of clause (0) of f sub-section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) n Act, 1956.

f 8. Since the Company is not a chit fund or nidhi / mutual benefit fund/society, paragraph 4 (xiii) of the order is not applicable.

9. As the Company is not dealing or trading in shares, securities, debentures and other investments, paragraph 4 (x iv) of the order is not applicable.

10. According to the records of the Company examined by us and on the basis of X information & explanations give to us, the Company has;

i) Not taken any loans from bank or financial institution.

ii) Not granted any loans and advances on the basis of security by way pledge of shares, debentures and other securities during the year.

iii) Not given any guarantee for loans taken by others or financial institutions during the year.

11. Based upon the audit procedures performed and information & explanations given by the management, no fraud on or by the Company has been notice during the year under audit.

Place : Ahmadabad For, Praful NnSlmi & Co.

Date : 13 / 05 / 2013 Chartered Accountants

(F.R.N.-08057W )

Ahmadabad

N. Shah)

Proprietor

Membership No.: 15591

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Mar 31, 2012

I. I have audited the attached Balance Sheet of M/s. DHARNIDHAR GLOBAL & INFRAPROJECTS LIMITED, AHMEDABAD as at March 31, 2012 the Profit and Loss Account for the year ended on that date and cash flow statements annexed thereto. These financial statements the responsibility of the company management. My responsibility is to express an opinion on these financial statements based on my audit.

II. I have conducted my audit in accordance- with the auditing statement 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 assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

III. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of Sub-Section (4A) of Section 227 of the Companies Act, 1956, i give below a statement on the matters specified in paragraph 4 & 5 of the said Order.

1. (a) During the year, the Company has sold all the Fixed Assets. Under the circumstances, the matters of maintenance of proper records showing full particulars including quantitative details and situation of fixed assets, its physical verification by the management during the year are not applicable for the current year.

2. There being no inventory, the matter of physical verification is not applicable for the current year.

3. The company had not taken/granted any loan from two parties covered in the register maintained under section 301 of the Companies Act, 1956 and hence there is nothing to express an opinion on the repayment of loans taken or given or the payment / receipt of interest on the loans. There are no companies and parties covered in the register maintained under section 301 of the Companies Act, 1956 to which the company has granted loans.

4. As there are no major purchase / trading of Raw Materials/Fixed Assets, the matter of adequate internal control procedures commensurate with the size of the Company, is not applicable for the current year.

5. In respect of transactions entered in the register maintained in pursuance of Section 301 of the Act: According to the information and explanations given to me, there are no transactions of purchase / sale of goods and materials and services in pursuance of contracts or arrangements that are required to be entered in the registers maintained under section 301 of the Act and aggregating to Rs 500,000 or more during the year, in respect of any party.

6. In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from public during the year as per the provisions of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956

7. There is no internal audit system, as the management is of the opinion that looking to the present activities of the company, the same is not required.

8. In my opinion and According to the information and explanations given to me, maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 has not prescribed for any of the products dealt with by the company during the year.

9. Statutory and other dues

(a) The matters of depositing the amounts with appropriate authorities undisputed statutory dues including PF, investor education protection fund, employees state insurance, sales-tax, wealth-tax, Service Tax, custom duty, excise-duty, cess and other statutory dues are not applicable to the company for the current year.

(b) From the verification of accounts of the company, I have to report that the company has not made the payment of Income Tax for the year ended on 31 /03/2010 (Asst. Year 2010-11) amounting to Rs 20,00,000/

10. The company has incurred cash loss of Rs 3,67,136/- (Loss of Rs 11,76,304/- less amount of Loss in Sale of Fixed Assets Rs 8,09,168/-) (in the immediate preceding financial year it was Rs 1,91,663/-). However, there is no accumulated loss in the company as at March 31, 2012 as well as on March 31, 2011.

11. The matter of default in repayment of dues to the bank and other financial institutions, is not applicable as there is no such liability.

12. According to the information and explanations given to me and based on my examination of the documents and records, I am of the opinion that no loans or advances have been granted by the company on the basis of security by way of pledge of shares, debentures and other securities.

13. In my opinion, the company is not a chit fund or nidhi/mutual benefit fund/ society. Therefore, provisions of clause (xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

14. In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause (xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

15. According to the information and explanations given to me and based on my examination of the documents and records, I am of the opinion that the company has not given any guarantee for loans taken by others from bank or financial institutions.

16. In my opinion, the company had not availed any term loans from bank/financial institutions during the year.

17. 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 funds have been raised, either or short term or on long term, during the year, The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

18. The company had not issued any debentures in the current year

19. The company had not raised any money through public issues during the year 20. According to the information and explanations given to me, no fraud on or by the company was noticed or reported during the year of my audit.

IV Further to my comments in Paragraph III above, I report that:

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

b) In my opinion, the company has kept proper books of account as required by law so far as appears from my examination of those books.

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

d) In my opinion, the balance sheet, profit and loss account and cash flow Statements dealt with by this report 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 representation received from the Directors as on 31st March, 2012 and taken on record by the Board of Directors, I report that none of the Director is disqualified as on 31s March 2012 from being appointed as a director in terms of clause of Section 274 of the Companies Act, 1956;

f) In my opinion and to the best of my information and according to the explanations given to me and subject to note no. (e) of Schedule:-12 (regarding details of Sundry Creditors/Debtors which has been not verified by me). 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) In the case of Balance Sheet of the State of Affairs of the Company as at March 31, 2012;

ii) In the case of the profit and loss account, of the Loss for the year ended on that date; and

iii) In the case of the Cash Flow Statement of the cash flows during the said period.

For PRAFUL N. SHAH & CO.,

Chartered Accountants

F R N : 108057W

(P. N. SHAH)

Place : Ahmadabad Proprietor

Date : May 7, 2012 Membership No.:-15591

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Mar 31, 2010

I. I have audited the attached Balance Sheet of M/s. DHARNIDHAR GLOBAL & INFRAPROJECTS LIMITED, AHMEDABAD as at March 31, 2010 the Profit and Loss Account for the year ended on that date and cash flow statements annexed thereto. These financial statements the responsibility of the company management. My responsibility is to express an opinion on these financial statements based on my audit.

II. I have conducted my audit in accordance with the auditing statement standards generally accepted in India. Those Standards require that plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

III. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of Sub-Section (4A) of Section 227 of the Companies Act, 1956, i give below a statement on the matters specified in paragraph 4 & 5 of the said Order.

1. (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 in accordance with a program me of verification which, in my opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) The company has not sold/disposed off any of the fixed assets during the year,

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

(b) 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) On the basis of my examination of the records of inventory, I am of the opinion that the company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt with in the books of the company.

1. The company had not taken/granted any loan from to parties covered in the register maintained under section 301 of the Companies Act, 1956 and hence there is nothing to express an opinion on the repayment of loans taken or given or the payment / receipt of

interest on the loans. There are no companies and parties covered in the register maintained under section 301 of the Companies Act, 1956 to which the company has granted loans.

4. In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the Company and nature of its business with regard to purchases of inventory, fixed assets and with regard to sale of goods. During the course of my audit, no major weakness has been noticed in the internal controls.

5. In respect of transactions entered in the register maintained in pursuance of Section 301 of the Act:

(a)According to the information and explanations given to me, the transactions that needed to be entered into the register have been so entered;

(b)According to the information and explanations given to me, there are no transactions of purchase sale of goods and materials and services in pursuance of contracts or arrangements that are required to be entered in the registers maintained under section 301 of the Act and aggregating to Rs. 500,000 or more during the year, in respect of any party.

6. In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from public during the year as per the provisions of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956

7. Based on my audit procedures and in accordance with the information and explanations given by the management, the company has an internal audit system commensurate with the size and the nature of its business.

8. In my opinion and According to the information and explanations given to me, maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 has not prescribed for any of the products dealt with by the company during the year.

9 Statutory and other dues

(a) According to the information and explanations given to me, the company is regular in depositing with appropriate authorities undisputed statutory dues including PF, investor education protection fund, employees state insurance, income- tax, sales-tax, wealth-tax, Service Tax, custom duty, excise-duty, cess and other statutory dues applicable to it with the appropriate authorities during the year.

(b) According to the information and explanations given to me. no undisputed amounts payable in respect of income-tax/ sales-tax, wealth-tax/Service tax/custom duty/excise-duty were outstanding, as at March 31.2010 for a period of more than 6- months from the date they became payable

(c) According to the information and explanations given to me, there are no dues of sale tax, income tax, customs duty, wealth tax, excise duty / cess which have not been deposited on account of any dispute.

10.The company has not incurred cash losses during the current year as well as in the immediately preceding financial year. There is no accumulated loss in the company as at March 31,2010.

11.According to the information and explanations given by the management, I am of the opinion that the company has not

defaulted in repayment of dues to the bank The company does not have any debenture holders.

12.According to the information and explanations given to me and based on my examination of the documents and records, I am of the opinion that no loans or advances have been granted by the company on the basis of security by way of pledge of shares, debentures and other securities.

13. In my opinion, the company is not a chit fund or nidhi/mutual benefit fund/ society. Therefore, provisions of clause (xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

14. In my opinion, the company is not dealing in or trading in shares, securities. debentures and other investments. Accordingly, the provisions of clause (xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

15.According to the information and explanations given to me and based on my examination of the documents and records, I am of the opinion that the company has not given any guarantee for loans taken by others from bank or financial institutions.

16.ln my opinion, the company had not availed any term loans from bank/financial institutions during the year.

17.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 funds have been raised, either or short term or on long term, during the year 18, The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

19.The company had not issued any debentures in the current year

20.The company had not raised any money through public issues during the year

21 According to the information and explanations given to me, no fraud on or by the company was noticed or reported during the year of my audit.

IV. Further to my comments in Paragraph III above, I report that:

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

b) In my opinion, the company has kept proper books of account as required by law so far as appears from my examination of those books.

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

d) In my opinion, the balance sheet and the profit and loss account dealt with by this report 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 representation received from the Directors as on 31st March, 2010 and taken on record by the Board of Directors, I report that none of the

Director is disqualified as on 31st March 2010 from being appointed as a director in terms of clause

(g) of Section 274 of the Companies Act, 1956;

f) In my opinion and to the best of my information and according to the explanations given to me, 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) In the case of Balance Sheet of the State of Affairs of the Company as at March 31,2010;

ii) In the case of the profit and loss account, of the profit for the year ended on that date; and

iii) In the case of the Cash Flow Statement of the cash flows during the said period.

N.S. & ASSOCIATES Chartered Accountant

Membership Number: 42658

Place: Ahmedabad Date : 03.09.2010