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Auditor Report of Aurum Soft Systems Ltd.

Mar 31, 2015

I have audited the accompanying financial statements of Aurum Soft Systems Limited ("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 Management is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the 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 these financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

My responsibility is to express an opinion on these financial statements based on my audit.

I 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.

I conducted my audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that I 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.

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

Opinion

In my opinion and to the best of my information and according to the explanations given to me, 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, 2015;

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ('the Order') issued by the Central Government in terms of Section 143(11) of the Act, I give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by section 143(3) of the Act, 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 proper books of account as required by law have been kept by the Company so far as appears from my 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 my opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules, 2014;

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

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 my opinion and to the best of my information and according to the explanation given to me:

i. The Company has disclosed that the Company does not have any pending litigations which will impact its financial position in its financial statements.

ii. The Company has made provision for material foreseeable losses, if any, as required under the applicable law or accounting standards, and as required on long- term 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 THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' section of my report of even date)

I. 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. The fixed assets have been physically verified during the year by the management on a periodical manner, which in my opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

II. The Company does not hold any physical inventories.

III. In respect of the unsecured loan granted by the Company to its wholly owned subsidiary which is covered in the register maintained under Section 189 of the Companies Act, 2013, the principal amount is not overdue and the interest which is payable annually is overdue. The Company has not granted any loans,

secured or unsecured, to any other companies, firms or other parties covered in the Register maintained under Section 189 of the Act.

IV. In my opinion and according to the information and explanations given to me, the Company has an adequate internal control system commensurate with its size and the nature of its business for the purchase of inventory and fixed assets and for the sale of services. During the course of my audit, I have not observed any continuing failure to correct major weaknesses in such internal control system.

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

VI. The provisions of clause (vi) of paragraph 3 of the Order are not applicable to the Company as the Company is not covered by the Companies (Cost Records and Audit) Rules, 2014.

VII. In respect of statutory dues:

a. According to the records of the Company, undisputed statutory dues including Provident Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Cess and other material statutory dues have been generally regularly deposited with the appropriate authorities. According to the information and explanations given to me, 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.

b. According to the records of the company and the information and explanations given to me, there are no dues of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess which have not been deposited with the appropriate authorities on account of any dispute.

c. According to the records of the Company, 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 accumulated losses of the Company do not exceed 50% of the Networth of the Company as at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

IX. In my opinion and according to the information and explanations given to me, the Company has not availed any loan from Banks, Financial Institutions or issued any debentures

X. According to the information and explanations given to me, the company has not given any guarantee for loans taken by others from banks or financial institutions.

XI. According to the information and explanations given to me, the company has not availed any term loans.

XII. In my opinion and according to the information and explanations given to me, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

Place : Chennai S. Ramanath Date : May 30, 2015 Chartered Accountant Membership No: 029416


Mar 31, 2014

I have audited the accompanying financial statements of Aurum Soft Systems Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2014, 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 notified under the Companies Act,1956 (the Act) read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. 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

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

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

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

Opinion

In my opinion and to the best of my information and according to the explanations given to me, 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 Profit for the year ended on that date; and

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

Report on Other Legal and Regulatory Requirements

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

2. As required by section 227(3) of the Act, 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 proper books of account as required by law have been kept by the Company so far as appears from my 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 my opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards notified under 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.

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.

Annexure to the Auditors'' Report:

The Annexure referred to in my report to the members of

Aurum Soft Systems Limited ("the Company") for the year

ended March 31, 2014. I report that:

1. The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. The company has a regular program of physical verification of its fixed assets. No material discrepancies were noticed on such verification.

2. The Company does not hold any physical inventories.

3. The company has not granted any loans to parties covered in the register maintained under section 301 of the Companies Act, 1956. The company has not taken any loans, secured or unsecured, to or from companies, firms or other parties covered in the register maintained under section 301 of the companies act, 1956.

4. In my opinion and according to the information and explanations given to me, there is adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchase of fixed assets and the sale of services. The activities of the company do not involve purchase of inventory and the sale of goods. Further on the basis of my examination of the books and records of the Company carried out in accordance with the auditing standards generally accepted in India, and according to the information and explanations given to me, I have neither come across nor have I been informed of any continuing failure to correct major weaknesses in the internal control system.

5. In my opinion, and according to the information and explanations given to me, there are no contracts / arrangements, the parti culars of which need to be entered into the register required to be maintained u/s 301 of the Companies Act, 1956.

6. The Company has not accepted any deposits from the public during the year and consequently, the directive issued by the Reserve Bank of India and the provisions of Section 58A and 58AA of the Companies Act, 1956, and rules framed there under are not applicable.

7. The company has no internal audit department as such. However, its control procedures ensure reasonable internal checking of its financial and other records which is commensurate with the size and nature of its business.

8. As per the information and explanation given to me, the company is not required to maintain cost records as prescribed by the Central Government under the section 209(1)(d) of the Companies Act, 1956 for any of the services rendered by the company.

9. According to the information and explanations given to me and on the basis of my examination of the books of account, the company, during the year has been regular in depositing, undisputed statutory dues including Provident Fund, Employees State Insurance, Income tax, service tax, cess and other statutory dues, wherever applicable, with the appropriate authorities.

According to the information and explanations given to me, no undisputed amounts payable in respect of Provident Fund, Employees State Insurance, Income tax, service tax, cess and other Statutory dues were in arrears as at March 31, 2014 for a period of more than six months from the date they became payable.

According to the records of the company and the information and explanations given to me, there are no dues of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess which have not been deposited with the appropriate authorities on account of any dispute.

10. The company does not have any accumulated losses as at March 31, 2014 and has not incurred cash losses in the financial year and in the immediately preceding financial year.

11. In my opinion and according to the information and explanations given to me, the Company has not availed any loan from Banks, Financial Institutions or issued any debentures.

12. In my opinion and according to the information and explanations given to me, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. In my opinion and according to the information and explanations given to me, the company is not a chit fund or a nidhi / mutual benefit fund / society.

14. In my opinion and according to the information and explanations given to me, the company has not deal in shares, securities, debentures & other investments.

15. According to the information and explanations given to me, the company has not given any guarantee for loans taken by others from banks or financial institutions.

16. According to the information and explanations given to me, the company has not availed any term loans.

17. In my opinion, the company has not raised any funds on short-term basis.

18. The Company during the year has not made any preferential allotment of shares to any party or companies covered in the register maintained under section 301 of the Companies Act, 1956.

19. The Company has not issued any debentures during the year.

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

21. During the course of my examination of the books and records of the company, carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to me, I have neither come across any instance of fraud on or by the company, noticed or reported during the year under report nor have I been informed of such case by the management.

Place: Chennai S. Ramanath Date: May 30, 2014 Chartered Accountant Membership No: 029416


Mar 31, 2013

Report on the Financial Statements

I have audited the accompanying fi nancial statements of Aurum Soft Systems Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2013, the Statement of Profi t and Loss and Cash Flow Statement for the year then ended and a summary of signifi cant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these fi nancial statements that give a true and fair view of the fi nancial position, fi nancial performance and cash fl ows 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 fi nancial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility

My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that I 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 fi nancial 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 fi nancial statements.

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

Opinion

In my opinion and to the best of my information and according to the explanations given to me, the fi nancial 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 Statement of Profi t and Loss, of the Profi t for the year ended on that date; and

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

Report on Other Legal and Regulatory Requirements

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

2. As required by section 227(3) of the Act, 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 proper books of account as required by law have been kept by the Company so far as appears from my examination of those books;

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

d. in my opinion, the Balance Sheet, Statement of Profi t 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; and

e. on the basis of written representations received from the directors as on March 31, 2013, and taken on record by the Board of Directors, none of the directors is disqualifi ed 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.

Annexure to the Auditors'' Report:

The Annexure referred to in my report to the members of Aurum Soft Systems Limited ("the Company") for the year ended March 31, 2013. I report that:

1. The Company has maintained proper records showing full particulars, including quantitative details and situation of fi xed assets. The company has a regular program of physical verifi cation of its fi xed assets. No material discrepancies were noticed on such verifi cation.

2. The Company does not hold any physical inventories.

3. The company has not granted any loans to parties covered in the register maintained under section 301 of the Companies Act, 1956. The company has not taken any loans, secured or unsecured, to or from companies, fi rms or other parties covered in the register maintained under section 301 of the companies act, 1956.

4. In my opinion and according to the information and explanations given to me, there is adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchase of fi xed assets and the sale of services. The activities of the company do not involve purchase of inventory and the sale of goods. Further on the basis of my examination of the books and records of the Company carried out in accordance with the auditing standards generally accepted in India, and according to the information and explanations given to me, I have neither come across nor have I been informed of any continuing failure to correct major weaknesses in the internal control system.

5. In my opinion, and according to the information and explanations given to me, there are no contracts / arrangements, the particulars of which need to be entered into the register required to be maintained u/s 301 of the Companies Act, 1956.

6. The Company has not accepted any deposits from the public during the year and consequently, the directive issued by the Reserve Bank of India and the provisions of Section 58A and 58AA of the Companies Act, 1956, and rules framed there under are not applicable.

7. The company has no internal audit department as such. However, its control procedures ensure reasonable internal checking of its fi nancial and other records which is commensurate with the size and nature of its business.

8. As per the information and explanation given to me, the company is not required to maintain cost records as prescribed by the Central Government under the section 209(1)(d) of the Companies Act, 1956 for any of the services rendered by the company.

9. According to the information and explanations given to me and on the basis of my examination of the books of account, the company, during the year has been regular in depositing, undisputed statutory dues including Provident Fund, Employees State Insurance, Income tax, service tax, cess and other statutory dues, wherever applicable, with the appropriate authorities.

According to the information and explanations given to me, no undisputed amounts payable in respect of Provident Fund, Employees State Insurance, Income tax, service tax, cess and other Statutory dues were in arrears as at March 31, 2013 for a period of more than six months from the date they became payable.

According to the records of the company and the information and explanations given to me, there are no dues of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess which have not been deposited with the appropriate authorities on account of any dispute.

10. The company does not have any accumulated losses as at March 31, 2013 and has not incurred cash losses in the fi nancial year and in the immediately preceding fi nancial year.

11. In my opinion and according to the information and explanations given to me, the Company has not availed any loan from Banks, Financial Institutions or issued any debentures.

12. In my opinion and according to the information and explanations given to me, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. In my opinion and according to the information and explanations given to me, the company is not a chit fund or a nidhi / mutual benefi t fund / society.

14. In my opinion and according to the information and explanations given to me, the company has not dealt in shares, securities, debentures and other investments.

15. According to the information and explanations given to me, the company has not given any guarantee for loans taken by others from banks or fi nancial institutions.

16. According to the information and explanations given to me, the company has not availed any term loans.

17. In my opinion, the company has not raised any funds on short-term basis.

18. The Company during the year has not made any preferential allotment of shares to any party or companies covered in the register maintained under section 301 of the Companies Act, 1956.

19. The Company has not issued any debentures during the year.

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

21. During the course of my examination of the books and records of the company, carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to me, I have neither come across any instance of fraud on or by the company, noticed or reported during the year under report nor have I been informed of such case by the management.



Place: Chennai S. Ramanath

Date: May 30, 2013 Chartered Accountant Membership No: 029416


Mar 31, 2012

1. I have audited the attached Balance Sheet of M/s Aurum Soft Systems Limited (the company) as at March 31, 2012, the Profit and Loss Account and also the Cash Flow Statement for the year ended on that date, annexed thereto, which I have signed under reference to this report. These financial statements are the responsibility of the company's management. My responsibility is to express an opinion on these financial statements based on my audit.

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

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

4. Further to my comments in the Annexure referred to in paragraph 3 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 purposes of my audit;

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

c. The Balance Sheet, the 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 and Cash Flow Statement dealt with by this report are in compliance 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 and taken on record by the Board of Directors, none of the Directors is disqualified as on March 31, 2012 from being appointed as a director under clause (g) of sub-section (1) 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, they said accounts together with Significant Accounting Policies and Notes thereon give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

i. in 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 profit for the year ended on that date, and

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

Place: Chennai R.R.Rajkumar

Date: 14th August 2012 Chartered Accountant

M.No: 209877

Annexure to the Auditors' Report:

The Annexure referred to in the auditors' report to the members of Aurum Soft Systems Limited (the Company) for the year ended March 31, 2012. I report that:

1. The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. The company has a regular program of physical verification of its fixed assets. No material discrepancies were noticed on such verification.

2. The Company does not hold any physical inventories.

3. The company has not granted any loans to parties covered in the register maintained under section 301 of the Companies Act, 1956. The company has not taken any loans, secured or unsecured, to or from companies, firms or other parties covered in the register maintained under section 301 of the companies act, 1956.

4. In my opinion and according to the information and explanations given to me, there is adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchase of fixed assets and the sale of services. The activities of the company do not involve purchase of inventory and the sale of goods. Further on the basis of my examination of the books and records of the Company carried out in accordance with the auditing standards generally accepted in India, and according to the information and explanations given to me, I have neither come across nor have I been informed of any continuing failure to correct major weaknesses in the internal control system.

5. In my opinion, and according to the information and explanations given to me, there are no contracts / arrangements, the particulars of which need to be entered into the register required to be maintained u/s 301 of the Companies Act, 1956.

6. The Company has not accepted any deposits from the public during the year and consequently, the directive issued by the Reserve Bank of India and the provisions of Sec 58A and 58AA of the Companies Act, 1956, and rule framed there under are not applicable.

7. The company has no internal audit department as such. However, its control procedures ensure reasonable internal checking of its financial and other records which commensurate with the size and nature of its business.

8. As per the information and explanation given to me, the company is not required to maintain cost records as prescribed by the Central Government under the section 209(1 )(d) of the Companies Act, 1956 for any of the services rendered by the company.

9. According to the information and explanations given to me and on the basis of my examination of the books of accounts, the company, during the year has been regular in depositing, undisputed statutory dues including Provident Fund, Employees State Insurance, Income tax, service tax, cess and other statutory dues, wherever applicable, with the appropriate authorities. According to the information and explanations given to me, no undisputed amounts payable in respect of Provident Fund, Employees State Insurance, Income tax, service tax, cess and other Statutory dues were in arrears as at 31st March 2012 for a period of more than six months from the date they became payable. According to the records of the company and the information and explanations given to me, there are no dues of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess which have not been deposited with the appropriate authorities on account of any dispute.

10. The company does not have any accumulated losses as at 31st March, 2012 and has not incurred cash losses during the financial year ended on that date. The company has not incurred cash losses in the financial year and in the immediately preceding financial year.

11. In my opinion and according to the information and explanations given to me, the Company has not availed any loan from Banks, Financial Institutions or issued any debentures.

12. In my opinion and according to the information and explanations given to me, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. In my opinion and according to the information and explanations given to me, the company is not a chit fund or a nidhi / mutual benefit fund / society.

14. In my opinion according to the information and explanations given to me, the company has not deal in shares, securities, debentures & other investments.

15. According to the information and explanations given to me, the company has not given any guarantee for loans taken by others from banks or financial institutions.

16. According to the information and explanations given to me, the company has not taken any term loans.

17. In my opinion, the company has not raised any short term funds.

18. The Company during the year has not made any preferential allotment of shares to any party or companies covered in the register maintained under section 301 of the Companies Act, 1956.

19. The Company has not issued any debentures during the year.

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

21. During the course of my examination of the books and records of the company, carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to me, I have neither come across any instance of fraud on or by the company, noticed or reported during the year under report nor have I been informed of such case by the management.

Place: Chennai R.R.Rajkumar

Date: 14th August 2012 Chartered Accountant

M.No: 209877

 
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