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Auditor Report of Delma Infrastructure Ltd.

Mar 31, 2014

We have audited the attached Balance Sheet of DELMA INFRASTRUCTURE LIMITED as at 31st March, 2014 and also the Profit & Loss Account and also Cash Flow Statement for the year ended on the date annexed thereto, both of which we have signed under reference to this report. These Financial statement are the responsibility of the Company''s management. Our responsibility is to express an opinion on the financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These 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 managements, as well as evaluating, the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In accordance with the provisions of Section 227 of the Companies Act.1956, we report that;

1) As required by the Companies (Auditor''s Report) order, 2003, issued by the Central Government of India under Sub-section (4A) of section 277 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 enclosed in the Annexure a statement on the matter specified in paragraphs 4 and 5 of the said Order.

2) Further to our comments in the Annexure referred to above we report that:

a) We have obtained all the information''s 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 accounts as required by law have been kept by the company so far as it appears from our examination of those books.

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

d) In Our opinion, the Balance Sheet, and the Profit and Loss Account comply with the accounting standards referred to in sub-section 3(c) of section 211 of the Companies Act. 1956.

e) On the basis of the written re presentation received from the directors as on 31st March 2014 and taken on record by the Board of Directors, we report that the 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) to Section 274 of the Companies Act 1956, and

f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with the significant accounting policies in schedule ''F'' and notes appearing there on, give the information required by the Companies Act, 1956 in the manner so required and give true and fair view in conformity with the principles generally accepted India:

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

ii) In the case of Profit & 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 flow for the year ended on that date.

Annexure to the Auditors'' Report:

(The anexure referred to in the Auditors'' Report to the members of DELMA INFRASTRUCTURE LIMITED for the year ended 31.03.2014)

(i) The Company does not own/possess any Fixed Assets.

(ii) There are no inventories.

iii) a) According to the information and explanation given to us, the company has granted unsecured loans to companies, firms and other parties covered in the register maintained under section 301 of the companies Act, 1956. The maximum amount outstanding during the end of the year it Rs. 50.00 lakhs (Previous Year Rs. 50.00 lakhs) (Number of parties : one)

b) The rate of interest and other terms and conditions of loans given by the company, secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The receipt of the principal amount and interest, wherever applicable, are regular.

d) The reasonable steps have been taken by the company for recovery/payment of the principal and interest in case of overdue amount is more than Rupees one Lakhs.

e) a) According to the information and explanation given to us, the company has granted unsecured loans, to companies, firms and other parties covered in the register maintained under section 301 of the companies Act, 1956. The maximum amount outstanding during the end of the year is Rs. 50.00 lakhs (Previous Year Rs. 50.00 Lakhs) (Number of parties : one).

b) The rate of interest and other terms and conditions of loans given by the company, secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The receipt of the principal amount and interest, where applicable, are regular.

d) The reasonable steps have been taken by the company for recovery/payment of the principal and interest in case of overdue amount is more than Rupees one Lakhs.

e) The Company has taken loans secured or unsecured, from Companies. Firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Maximum amount outstanding Rs. 27.31 Lakhs (Number of parties : Two.). (Previous Year Rs. 4.28 lakhs. Number of parties : Two).

iv) In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for purchases of inventory, fixed assets and for sale at goods. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures.

v) a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of Rs. five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to the prevailing market prices.

vi) The Company has not accepted any deposits from public during the year as defined u/s 58A, 58AA or any relevant provisions of the Companies Act, 1956 read with the provisions of the Companies (Acceptance of Deposit) Rule 1975.

(vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business.

(viii) We are informed that the maintenance of cost record has not been prescribed by the Central Government u/s 209 (1) (d) of Companies Act, 1956 in respect of this company.

(ix) a) According to the information and explanations given to us and records of the Company examined by us, in our opinion, Ihe Company is generally regular in depositing undisputed statutory dues including provided fund, employees state insurance, income tax, sales lax. wealth tax, service tax, custom duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to us, there were no undisputed amounts payable in respect of provident fund, employees state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other statutory dues as at 31st March 2014 for a period of more than six months from the date they become Payable.

b) According to the information and explanations given to us and records of the Company examined by us, the particulars of sales tax, excise duty and income tax dues as at 31st March, 2014 which have not been deposited on account of disputes pending, are nil.

x) The Company has no accumulated loss at 31st March, 2014, and the Company has not incurred any cash losses in the financial year ended on that date and also in the immediately preceding financial year.

xi) According to the records of the Company examined by us and the Information given to us, the Company has no due to any financial institution or bank or debenture holders as at the balance sheet date.

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

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

xiv) The Company is not dealing/trading in shares, securities, debentures and other Investments.

xv) In our opinion and according to the information and explanation given to us, there is no guarantee given by the company for loans taken by others from and banks or financial institution.

xvi) The Company has not taken any term loan.

xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used for long terms investments.

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 Companies Act 1956 during the year.

xix) The company has not issued any debentures.

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

xxi) During the courses of our 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 us, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor we have been informed such case by management.

FOR A.K. BAGADIA & CO. CHARTERED ACCOUNTANTS. Firm Registration No. 100846W

(A.K. BAGADIA) Place : Mumbai PROPRIETOR. Dale : 29.05.2014. M. No. 30520.


Mar 31, 2013

We have audited the attached Balance Sheet of DELMA INFRASTRUCTURE LIMITED as at 31st March, 2013 and also the Profit & Loss Account and also Cash Flow Statement for the year ended on that date annexed thereto, both of which we have signed under reference to this report. These Financial statements are the responsibility of the Company''s management. Our responsibility is to express an opinion on the financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These 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 managements, as well as evaluating, the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion

In accordance with the provisions of Section 227 of the Companies Act, 1956, we report that;

1) As required by the Companies (Auditor''s Report) order.2003 .issued by the Central Government of India under 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 enclosed in the Annexure a statement on the matter specified in paragraphs 4 and 5 of the said Order.

2) Further to our comments in the Annexure referred to above, we report that;

a) We have obtained all the information''s 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 accounts as required by law have been kept by the company so far as it appears from our examination of those books

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

d) In our opinion, the Balance Sheet, and the Profit and Loss Account comply with the accounting standards referred to in sub-section 3{c) of section 211 of the Companies Act, 1956.

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e) on the basis of the written representation received from the directors as on 31s1 March 2013 and taken on record by the Board of Directors, we report that the none of the directors is disqualified as on 31st march 2009,from being appointed as a director in terms of clause (g)of sub section (1) to Section 274 of the Companies Act 1956,and

f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with the significant accounting policies in schedule F and notes appearing there on, give the information required by the Companies Act,1956 in the manner so required and give true and fair view in conformity with the principles generally accepted India:

i) in the case of the Balance Sheet of the state of affairs of the Company as at 31s'' March 2013,

ii) in the case of Profit & 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 flow for the year ended on that date.

( The annexure referred to in the Auditors'' Report to the members of DELMA INFRASTRUCTURE LIMITED for the year ended 31.03.2013)

(i) The Company does not own/possess any Fixed Assets.

(ii) There are no inventories.

iii) a) According to the information and explanation given to us, the company has granted unsecured loans, to companies, firms and other parties covered in the register maintained under section 301 of the companies Act,1956. The maximum amount outstanding during the end of the year is Rs..50.00 lakhs, (Previous Year Rs.NIL ) (Number of parties :one)

b) The rate of interest and other terms and conditions of loans given by the company, secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The receipt of the principal amount and interest, wherever applicable, are regular.

d) The reasonable steps have been taken by the company for recovery/ payment of the principal and interest in case of overdue amount is more than Rupees one Lakhs.

e) The Company has taken any loans secured or unsecured, from Companies, Firms or other parties covered in the register maintained under section 301 of the Companies Act. 1956 Maximum amount outstanding RS.4.25 lakhs (Number of parties :One.). (Previous Year Rs.NIL.)

iv) .In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for purchases of inventory, fixed assets and for sale of goods. Further, on the basis of our examination of the books and records ot the company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures.

v) a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us. the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of Rs, five lakhs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices.

(vi) The Company has not accepted any deposits from public during the year as defined u/s 58A, 58AA or any relevant provisions of the Companies Act, 1956 read with the provisions of the Companies (Acceptance of Deposit) Rule, 1975.

(vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business.

viii) We are informed that the maintenance of cost record has not been prescribed by the Central Government u/s 209 (1) (d) of Companies Act, 1956 tn respect of this company.

ix) a) According to the information and explanations given to us and records of the Company examined by us, in our opinion, the Company is generally regular in depositing undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to us, there were no undisputed amounts payable in respect of provident fund, employees state insurance, income tax, sales 1ax, wealth tax, service tax, custom duty, excise duty, cess and other statutory dues as at 31st March 2013 for a period of more than six months from the date they become payable.

b) According to the information and explanations given to us and records of the Company, examined by us. the particulars of sales tax. excise duty and income tax dues as at 31st March, 2013 which have not been deposited on account of disputes pending, are nil.

x) The Company has no accumulated loss at 31" March, 2013. and the Company has not incurred any cash losses in the financial year ended on that date and also in the immediately preceding financial year.

xi) According to the records of the Company examined by us and the information given to us, the Company has no dues to any financial institution or bank or debenture holders as at the balance sheet date.

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

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

xiv) The Company is not dealing / trading in shares, securities detientures and other investments.

xv) In our opinion and according to the information and explanation given to us, there is no guarantee given by the company for loans taken by others from and banks or financial institution.

xvi) The Company has not taken any term loan.

xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used for long terms investments.

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 Companies Act. 1956 during the year.

xix) The company has not issued any debentures.

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

xxi) During the courses of our 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 us, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor we have been informed such case by management.

A.K BAGADIA&CO.

CHARTERED ACCOUNTANTS.

Firm Registratiotv. 100846W

( BAGADIA )

PROPRIETOR.

M. No. 30520.

Place : Mumbai.

Date : 30.05 2013


Mar 31, 2012

We have audited the attached Balance Sheet of HARI OM TRADES & AGENCIES LIMITEDas at 31st March, 2012 and also the Profit & Loss Account and also Cash Flow Statementfor the year ended on that date annexed thereto, both of which we have signed underreference to this report. These Financial statements are the responsibility of theCompany''s management. Our responsibility is to express an opinion on the financialstatements based on our audit

We have conducted our audit in accordance with auditing standards generally accepted inIndia. These standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement Anaudit includes, examining on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by managements, as well as evaluating, the overallfinancial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.

In accordance with the provisions of Section 227 of the Companies Act, 1956, we reportthat;

1) As required by the Companies (Auditor''s Report) order,2003 .issued by the CentralGovernment of India under Sub-section (4A) of section 227 of the Companies Act, 1956,andon the basis of such checks of the books and records of the company as we consideredappropriate and according to the information and explanations given to us .we enclosed inthe Annexure a statement on the matter specified in paragraphs 4 and 5 of the said Order.

2) Further to our comments in the Annexure referred to above, we report that;

a) We have obtained all the information''s and explanations which to the best of ourknowledge and belief were necessary for the purpose of our audit.

b) In our opinion proper books of accounts as required by law have been kept by thecompany so far as it appears from our examination of those books.

c) The Balance Sheet and Profit and Loss Account dealt with by this report are inagreement with books of account.

d) In our opinion, the Balance Sheet, and the Profit and Loss Account comply with theaccounting standards referred to in sub-section 3(c) of section 211 of the Companies Act.1956.

e) on the basis of the written representation received from the directors as on 31stMarch 2012 and taken on record by the Board of Directors, we report that the none of thedirectors is disqualified as on 31st march 2012,from being appointed as a director interms of clause (g) of sub section (1) to Section 274 of the Companies Act 1956, and

f) In our opinion and to the best of our information and according to the explanationgiven to us, the said accounts read together with the significant accounting policies inschedule ''G'' and notes appearing there on, give the information required by the CompaniesAct, 1956 in the manner so required and give true and fair view in conformity with theprinciples generally accepted 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 Profit & 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 flow for the year ended on that date.

Annexure to the Auditors'' Report:

(The annexure referred to in the Auditors'' Report to the members of Hari Om Trades& Agencies Ltd. for the year ended 31.03.2012)

(i) The Company does not own/possess any Fixed Assets.

(ii) There is no inventories.

iii) a) According to the information and explanation given to us, the company hasgranted interest free advance to Mr. R.L. Gupta of Rs. 8,275,000 and has not taken anyunsecured loans, to/from companies, firms and other parties covered in the registermaintained under section 301 of the companies Act. 1956.

b) The rate of interest and other terms and conditions of loans or by the company,secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The payment of the principal amount and interest, wherever applicable is regular.

d) The reasonable steps has been taken by the company for recovery/payment of theprincipal and interest in case of overdue amount is more than one Lakhs.

e) The Company has not taken any loans secured or unsecured, from Companies, Firms orother parties covered in the register maintained under section 301 of the Companies Act.1956.

iv) In our opinion and according to the information and explanation given to us, thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for purchases of inventory, fixed assets and for sale of goodsFurther, on the basis of our examination of the books and records of the company, andaccording to the information and explanations given to us, we have neither come cross norhave been informed of any continuing failure to correct major weakness in the aforesaidinternal control procedures.

v) a) According to the information and explanation given to us. we are of the opinionthat the transactions that need to be entered in the register maintained under section 301of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us, thetransaction made in pursuance of contracts or arrangements entered in the registermaintained under section 301 of the Companies Act, 1956, and exceeding the values of Rs.five lakhs in respect of any party during the year, have been made at prices which arereasonable having regard to the prevailing market prices.

(vi) The Company has not accepted any deposits from public during the year as definedu/s 58A and /58AA of the Companies Act. 1956 read with the provisions of the Companies(Acceptance of Deposit) Rule, 1975.

(vii) In our opinion, the Company has an internal audit system commensurate with thesize and nature of its business.

viii) We are informed that the maintenance of cost record has not been prescribed bythe Central Government u/s 209 (1) (d) of Companies Act, 1956 in respect of this company.

ix) a) According to the information and explanations given to us and records of theCompany examined by us, in our opinion, the Company is generally regular in depositingundisputed statutory dues including provident fund, employees state insurance, income taxsales tax, wealth tax, custom duty, excise duty, cess and other material statutory dues asapplicable with the appropriate authorities. According to the information and explanationsgiven to us. there were no undisputed amounts payable in respect of provident fund,employees state insurance, income tax. sales tax. wealth tax. custom duty, excise duty,cess and other statutory dues as at 31st March 2012 for a period of more than six monthsfrom the date they become payable.

b) According to the information and explanations given to us and records of theCompany, examined by us. the particulars of sales tax. excise duty and income tax dues asat 31st March. 2012 which have not been deposited on account of disputes pending, are nil.

x) The Company has no accumulated loss at 31st March, 2012 and the Companyhas not incurred any cash losses in the financial year ended on that date and also in theimmediately preceding financial year

xi) According to the records of the Company examined by us and the information given tous, the Company has no dues to any financial institution or bank or debenture holders asat the balance sheet date.

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

xiii) The provision of any special statute applicable to chit fund/nidhi/mutual benefitfund/ societies are not applicable to company.

xiv) The Company is not dealing / trading in shares, securities, debentures and otherinvestments.

xv) In our opinion and according to the information and explanation given to us, theterms & conditions of guarantee given by the company for loans taken by others fromand banks or financial institution are not prima facie prejudicial to the interest of theCompany.

xvi) The Company has not taken any term loan.

xvii) According to the information and explanations given to us and on an overallexamination of the balance sheet of the Company, we report that no funds raised on shortterm basis have been used for long terms investments and no long term funds have been usedto finance short term assets except permanent working capital.

xviii) The company has not made any preferential allotment of shares to parties andcompanies covered in the registered maintained under section 301 of the Companies Act.1956 during the year.

xix) The company has not issued any debentures.

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

xxi) During the courses of our examination of the books and records of the companycarried out in accordance with the generally accepted auditing practices in India, andaccording to the information and explanations given to us, we have neither come across anyinstances of material fraud on or by the Company, noticed or reported during the year, norwe have been informed such case by management. For A.K.BAGADIA &CO.,(FRN;100846W) CHARTERED ACCOUNTANTS

Place Mumbai. (CA. A.K. BAGADIA).

Date :11th August, 2012 PROPRIETOR.

M. No. 30520.


Mar 31, 2011

1. We have audited the attached balance sheet of HARI OM TRADES & AGENCIES LIMITED, as at 31st March. 2011, the profit and loss account and also the cash flow statement 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 management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

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

4. Further to our comments in the Annexure referred to above, we report that:

i. 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;

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 purposes of our audit have been received from the branches not visited by us. The Branch Auditor's Report(s) have been forwarded to us and have been appropriately dealt with):

iii. The balance sheet, profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account (and with the audited returns from the branches);

iv. In our opinion, the balance sheet, profit and loss account and cash flow statement dealt with by this report comply with the accounting standards referred to in 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, 201.1 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March. 201! 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 explanations given to us. die 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 the balance sheet, of the state of affairs of the company as at 31st March, 2011:

b. in the case of the profit & loss account, 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.

ANNEXURE

HARIOM TH4DES & AGENCIES LIMITED Referred to in paragraph 3 of our report of even date,

i. The company has no fixed assets.

ii. There is no inventory.

iii. (a) The company has granted loans to two companies covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs.9.90 Lacs and the year-end balance of loans granted to such parties was Rs.8.00 Lacs.

(b) In our opinion, the rate of interest and other terms and conditions of such loans are not, prima facie, prejudicial to the interest of the company.

(c) The parties have repaid the principal amounts as stipulated and have also been regular in the payment of interest to the company, wherever applicable.

(d) There is no overdue amount in excess of Rs.1 lakh in respect of loans granted to companies. firms or other parties listed in the register maintained under section 301 of the Companies Act. 1956.

(e) The company had taken loan from two companies covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs.2.62 Lacs and the year-end balance of loans taken from such parties was Rs. NIL.

(t) In our opinion, the rate of interest and other terms and conditions on which loans have been taken from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 are not. prima facie, prejudicial to the interest of the company.

(g) The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest, wherever payable.

iv. In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the company and the nature of its business, with regard to purchase of inventory, fixed assets and with regard to the sale of goods and services. During the course of our audit we have not observed any continuing failure to correct major weaknesses in internal control system of the company.

v. (a) According to the information and explanations given to us, we are of the opinion that the particulars of all contracts or arrangements that need to be entered into the register maintained under section 301 of the Companies Act. 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

vi. hi our opinion and according to the information and explanations given to Us, the company has not accepted deposits from public within the meaning of the provisions of sections 58A and 58AA and other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975,

vii. In our opinion, the company has an internal audit system commensurate with the size and nature of its business.

viii, (a) The company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education fund, employees' state insurance, income tax. sales tax. wealth tax, service tax. custom duty, excise duty and other material statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amounts payables in respect of income tax, sales tax. wealth tax. service tax, customs duty and excise duty were in arrears, as at 31st March, 2011 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to us, there are no dues of income tax, sales tax, service tax, customs duty and excise duty which have not been deposited on account to any dispute.

ix. In our opinion, the accumulated losses of the company are not more than fifty per cent of its net worth. Further, the company has incurred cash losses of Rs.247795.55 during the financial year covered by our audit and has not incurred any cash loss in the preceding financial year.

x. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to a financial institution, bank or debentures holders.

xi. We are informed that the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

xii. In our opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore. the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

xiii. In our opinion, the company is not dealing in or trading in shares securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies {Auditor's Report) Order. 2003 are not applicable to the company.

xiv. We are informed that the company has not given any guarantees for loans taken by others from banks or financial institutions.

xv. The company has not taken any term loans, during the year.

xvi. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the no funds raised on short-term basis have been used for long-term investment.

xvii. According to the information and explanations given to us, the company has not made any preferential allotment of shares.

xviii. According to the information and explanations given to us during the period covered by our audit report, the company had not issued debentures.

xix. The company has not raised funds during the year by way of public issue.

xx. According to die 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 A. K. Bagadia & Co.

Chartered Accountants.

(A.K. Bagadia)

Proprietor

M. No. 30520

FIRM REGI.NO.100846W

Place of Signature: MUMBAI.

Date: 11th August, 2011.


Mar 31, 2010

We have audited the attached Balance Sheet of HARI OM TRADES & AGENCIES LIMITED as at 31st March, 2010 and also the Profit & Loss Account and also Cash Flow Statement for the year ended on that date annexed thereto, both of which we have signed under reference to this report. These Financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on the financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These 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 managements, as well as evaluating, the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In accordance with the provisions of Section 227 of the Companies Act, 1956, we report that;

1) As required by the Companies (Auditors Report) order,2003 ,issued by the Central Government of India under 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 enclosed in the Annexure a statement on the matter specified in paragraphs 4 and 5 of the said Order.

2) Further to our comments in the Annexure referred to above, we report that;

a) We have obtained all the informations 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 accounts as required by law have been kept by the company so far as it appears from our examination of those books.

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

d) In our opinion, the Balance Sheet, and the Profit and Loss Account comply with the accounting standards referred to in sub-section 3(c) of section 211 of the Companies Act, 1956.

e) on the basis of the written representation received from the directors as on 31st March 2010 and taken on record by the Board of Directors, we report that the none of the directors is disqualified as on 31st march 2009,from being appointed as a director in terms of clause (g)of subsection (1) to Section 274 of the Companies Act 1956,and

f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with the significant accounting policies in schedule F and notes appearing there on, give the information required by the Companies Act, 1956 in the manner so required and give true and fair view in conformity with the principles generally accepted India:

i) in the case of the Balance Sheet of the state of affairs of the Company as at 31st March 2010.

ii) in the case of Profit & 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 flow for the year ended on that date.

Annexure to the Auditors Report: (The annexure referred to in the Auditors Report to the members of Hari Om Trades & Agencies Ltd. for the year ended 31.03.2010)

(i) The Company does not own/possess any Fixed Assets.

(ii) There are no inventories.

iii) a) According to the information and explanation given to us, the company has granted and taken unsecured loans, to/from companies, firms and other parties covered in the register maintained under section 301 of the companies Act, 1956. The maximum amount outstanding during the end of the year is Rs. Nil (PYRs. 5.96 Lacs.)

b) The rate of interest and other terms and conditions of loans or by the company, secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The payment of the principal amount and interest, wherever applicable is regular.

d) The reasonable steps have been taken by the company for recovery/payment of the principal and interest in case of overdue amount is more than one Lakhs.

e) The Company has not taken any loans secured or unsecured, from Companies, Firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956.

iv) In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for purchases of inventory, fixed assets and for sale of goods. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come cross nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures.

v) a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act,1956,and exceeding the values of Rs, five lakhs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices.

(vi) The Company has not accepted any deposits from public during the year as defined u/s 58A and /58AA of the Companies Act, 1956 read with the provisions of the Companies (Acceptance of Deposit) Rule, 1975.

(vii) In our opinion, the Company has (Letter not visibal)audit system commensurate with the size and nature of its business.

viii) We are informed that the maintenance of cost record has not been prescribed by the Central Government u/s 209 (1) (d) of Companies Act, 1956 in respect of this company

ix) a) According to the information and explanations given to us and records of the Company examined by us, in our opinion, the Company is generally regular in depositing undisputed statutory dues including provident fund, employees state insurance, income tax sales tax, wealth tax, custom duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to us, there were no undisputed amounts payable in respect of provident fund, employees state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and other statutory dues as at 31st March 2010 for a period of more than six months from the date they become payable.

b) According to the information and explanations given to us and records of the Company, examined by us, the particulars of sales tax, excise duty and income tax dues as at 31st March, 2010 which have not been deposited on account of disputes pending, are nil.

x) The Company has no accumulated loss at 31st March, 2010 and the Company has not incurred any cash losses in the financial year ended on that date and also in the immediately preceding financial year.

xi) According to the records of the Company examined by us and the information given to us, the Company has no dues to any financial institution or bank or debenture holders as at the balance sheet date.

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

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

xiv) The Company is not dealing / trading in shares, securities, debentures and other investments.

xv) In our opinion and according to the information and explanation given to us, the terms & conditions of guarantee given by the company for loans taken by others from and banks or financial institution are not prima facie prejudicial to the interest of the Company.

xvi) The Company has not taken any term loan.

xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used for long terms investments and no long term funds have been used to finance short term assets except permanent working capital.

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 Companies Act. 1956 during the year.

xix) The company has not issued any debentures.

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

xxi) During the courses of our 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 us, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor we have been informed such case by management.

A.K. BAGADIA & CO.

CHARTERED ACCOUNTANTS.

Firm Registration No. 100846W

Place :Mumbai. (A.K. BAGADIA).

Date :31st August, 2010 PROPRIETOR.

M. No. 30520.


Mar 31, 2009

We have audited the attached Balance Sheet of HARI OM TRADES & AGENCIES LIMITED as at 31st March, 2009 and also the Profit & Loss Account and also Cash Flow Statement for the year ended on that date annexed thereto, both of which we have signed under reference to this report. These Financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on the financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These 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 managements, as well as evaluating^Jhe overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In accordance with the provisions of Section 227 of the Companies Act, 1956, we report that;

1) As required by the Companies (Auditors Report) order,2003 .issued by the Central Government of India under 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 enclosed in the Annexure a statement on the matter specified in- paragraphs 4 and 5 of the said Order.

2) Further to our comments in the Annexure referred to above, we report that;

a) We have obtained all the informations 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 accounts as required by law have been kept by the company so far as it appears from our examination of those books .

c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with books of account. _—^_

d) In our opinion, the Balance Sheet, and the Profit and Loss Account comply with the accounting standards referred to in sub-section 3(c) of section 211 of the Companies Act, 1956.

e) on the basis of the written representation received from the directors as on 31st March 2009 and taken on record by the Board of Directors, we report that the none of the directors is disqualified as on 31st march 2009,from being appointed as a director in terms of clause (g)of subsection (1) to Section 274 of the Companies Act 1956,and

f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with the significant accounting policies in schedule F and notes appearing there on, give the information required by the Companies Act, 1956 in the manner so required and give true and fair view in conformity with the principles generally accepted India:

i) in the case of the Balance Sheet of the state of affairs of the Company as at 31st March 2009.

ii) in the case of Profit & 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 flow for the year ended on that date.

Annexure to the Auditors Report: (The annexure referred to in the Auditors Report to the members of Hari Om Trades & Agencies Ltd. for the year ended 31.03.2009)

(i) The Company does not own/possess any Fixed Assets.

(ii) There are no inventories.

iii) a) According to the information and explanation given to us, the company has granted and taken unsecured loans, to/from companies, firms and other parties covered in the register maintained under section 301 of the companies Act, 1956. The maximum amount outstanding during the end of the year is Rs. 7.26 Lacs.

b) The rate of interest and other terms and conditions of loans or by the company, secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The payment of the principal amount and interest, wherever applicable is regular.

d) The reasonable steps have been taken by the company for recovery/payment of the principal and interest in case of overdue amount is more than one Lakhs.

e) The Company has not taken any loans secured or unsecured, from Companies, Firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956.

iv) In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for purchases of inventory, fixed assets and for sale of goods. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come cross nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures.

v) a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act,1956,and exceeding the values of Rs, five lakhs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices.

(vi) The Company has not accepted any deposits from public during the year as defined u/s 58A and /58AA of the Companies Act, 1956 read with the provisions of the Companies (Acceptance of Deposit) Rule, 1975.

(vii) In our opinion, the Company has an interna! audit system commensurate with the size and nature of its business.

Viii) We are informed that the maintenance of cost record has not been prescribed by the Central Goverrnment u/s 209 (1) (d) of Companies Act, 1956 in respect of this compay cording to the information and explanations given to us and records

ix) a)Accordingly Company examined by us, in our opinion, the Company is generally regular in depositing undisputed statutory dues including provident fund, employees state insurance, income tax, wealth tax, custom duty, excise duty, cess and other material applicable with the appropriate authorities. According to the information statutory explanations given to us, there were no undisputed amounts payable in respect of employees to the insurance, income tax, sales tax, wealth tax, custom duty excise duty, cess and other statutory dues as at 31st March 2009 for a period of more than six months from the date they become payable.

According to the information and explanations given to us and records, of the tax, excise duty and income Company at 31st March, 2009 which have not been deposited on account of tax dues pending, are nil.

X)The Company has no accumulated loss at 31st March, 2009 and the Company has not incureed any cash losses in the financial year ended on that date and also in the immediately preceding financial year.

xi) According to the records of the Company examined by us and the information given to us the Company has no dues to any financial institution or bank or debenture as at balance sheet date. as not granted any loans and advances on the basis of security by

xii) Company of shares, debentures and other securities. way of Pledge vision of any special statute applicable to chit fund/nidhi/mutual benefit fund/

xiii) The provision of any applicable to company. societies are not dealing / trading in shares, securities, debentures and other

xiv) The Company investments-

our opinion and according to the information and explanation given to us, xv) In our conditions of guarantee given by the company for loans taken by the terms and banks or financial institution are not prima facie prejudicial to the others from Company. interest of Company.

xvi) The Company has not taken any term loan.

xvii)According to the information and explanations given to us and on an overall examination balance sheet of the Company, we report that no funds raised on short term have been used for long terms investments and no long term funds have finance short term assets except permanent working capital.

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 Companies Act. 1956 during the year.

xix) The company has not issued any debentures.

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

xxi) During the courses of our 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 us, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor we have been informed such case by management;

A.K. BAGADIA & CO. CHARTERED ACCOUNTANTS.

(A.K. BAGADIA ) PROPRIETOR. M. No. 30520.

Place : Mumbai.

Date : 1st September, 2009.


Mar 31, 2008

We have audited the attached Balance Sheet of HARI OM TRADES & AGENCIES LIMITED as at 31st March, 2008 and also the Profit & Loss Account and also Cash Flow Statement for the year ended on that date annexed thereto, both of which we have signed under reference to this report. These Financial statements are the responsibility of the Companys management Our responsibility is to express an opinion on the financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These 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 managements, as well as evaluating, the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In accordance with the provisions of Section 227 of the Companies Act, 1956, we report that;

1) As required by the Companies (Auditors Report) order.2003 .issued by the Central Government of India under 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 enclosed in the Annexure a statement on the matter specified in paragraphs 4 and 5 of the said Order.

2) Further to our comments in the Annexure referred to above, we report that;

a) We have obtained all the informations 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 accounts as required by law have been kept by the company so far as it appears from our examination of those books .

c) The Balance Sheet and Profit and Loss Account dealt with by this report are in •agreement with books of account

d) In our opinion, the Balance Sheet, and the Profit and Loss Account comply with the accounting standards referred to in sub-section 3(c) of section 211 of the Companies Act, 1956.

e) on the basis of the written representation received from the directors as on 31st March 2008 and taken on record by the Board of Directors, we report that the none of the directors is disqualified as on 31st march 2008,from being appointed as a director in terms of clause (g)of sub section (1) to Section 274 of the Companies Act 1956,and

f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts, read together with the significant accounting policies in schedule F and notes appearing there on, give the information required by the Companies Act,19561n the manner so required and give true and fair view in conformity with the principles generally accepted India:

i) in the case of the Balance Sheet of the state of affairs of the Company as at 31st March 2008.

ii) in the case of Profit, & 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 flow for the year ended on that date.

Annexure to the Auditors Report: (The annexure referred to in the Auditors Report to the members of Hari Om Trades & Agencies Ltd. for the year ended 31.03.2008)

(i) The Company does not own/possess any Fixed Assets.

(ii) There is no inventories.

iii) a) According to the information and explanation given to us, the company has granted and taken unsecured loans, to/from companies, firms and other parties covered in the register maintained under section 301 of the companies Act,1956. The maximum amount outstanding during the end of the year is Rs. 6.50 Lacs.

b) The rate of interest and other terms and conditions of loans or by the company, secured or unsecured, are prima facie not prejudicial to the interest of the company.

c) The payment of the principal amount and interest wherever applicable is regular.

d) The reasonable steps has been taken by the company for recovery/payment of the principal and interest in case of overdue amount is more than one Lakhs.

e) The Company has not taken any loans secured or unsecured, from Companies, Firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956.

iv) In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size Of the company and the nature of its business for purchases of inventory, fixed assets and for sale of goods. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come cross nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures.

v)a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Act 1956 have been so entered.

b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act 1956,and exceeding the values of Rs, five lakhs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices.

(vi) The Company has not accepted any deposits from public during the year as defined u/s 58A and /58AA of the Companies Act, 1956 read with the provisions of the Companies (Acceptance of Deposit) Rule, 1975.

(vii) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business.

viii) We are informed that the maintenance of cost record has not been prescribed by the Central Government u/s 209 (1) (d) of Companies Act, 1956 in respect of this company.

ix) a) According to the information and explanations given to us and records of the Company examined by us, in Our opinion, the Company is generally regular in depositing undisputed statutory dues including provident fund, employees state insurance, income tax sales tax, wealth tax, custom duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to us, there were no undisputed amounts payable in respect of provident fund, employees state insurance, income tax, sates tax, wealth tax, custom duty, excise duty, cess and other statutory dues as at 31st March 2008 for a period of more than six months from the date they become payable.

b) According to the information and explanations given to us and records of the Company, examined by us, the particulars of sales tax, excise duty and income tax dues as at 31st March, 2009 which have not been deposited on account of disputes pending, are nil.

x) The Company has no accumulated loss at 31st March, 2008 and the Company has not incurred any cash losses in the financial year ended on that date and also in the immediately preceding financial year.

xi) According to the records of the Company examined by us and the information given to us, the Company has no dues to any financial institution or bank or debenture holders as at the balance sheet date.

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

xiii) The provision of any special statute applicable to chit fund/nidhi/mutuai benefit fund/ societies are not applicable to company.

xiv) The Company is not dealing/trading in shares, securities, debentures and other investments.

xv) In our opinion and according to the information and explanation given to us, the terms & conditions of guarantee given by the company for loans taken by others from and banks or financial institution are not prima facie prejudicial to the interest of the Company.

xvi) The Company has not taken any term loan.

xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used for long terms investments and no long term funds have been used to finance short term assets except permanent working capital.

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 Companies Act 1956 during the year.

xix) The company has not issued any debentures.

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

xxi) During the courses of our 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 us, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor we have been informed such case by management.





A.K. BAGADIA & CO. CHARTERED ACCOUNTANTS.

Place :Mumbai. (A.K. BAGADIA).

Date :28th July, 2008. PROPRIETOR.

M. No. 30520.