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Auditor Report of East Buildtech Ltd.

Mar 31, 2014

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

Management''s responsibility for the financial statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the company in accordance with the Accounting Standards 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

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the Balance Sheet, of the state of affairs of the company as at March 31, 2014;

(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, we give in the Annexure, a statement on the matters specified in paragraphs 4 and 5 of the Order.

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

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

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

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

d. In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow statement comply with the Accounting Standards 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

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

(b) The Company has a program of physical verification of its fixed asset which, in our opinion, is reasonable having regard to the size of the Company and nature of its assets.

(c) No substantial part of fixed Assets were disposed off during the year affecting the principle of going concern.

2. (a) The stock of saleable commercial space has been physically verified at a reasonable interval by the management, during the year. In our opinion, the frequency of such verification is reasonable.

(b) The procedures for the physical verification of saleable commercial space followed by the management are, in our opinion, reasonable and adequate in relation to the size of the company and nature of its business.

(c) In our opinion, the company is maintaining proper records of inventory (commercial space). No material discrepancies were noticed on the physical verification of the same.

3. (a) The Company has not accepted/granted any unsecured loan from/to Company, Firms or other Parties listed in the register maintained under section 301 of the Companies Act, 1956. Therefore no comments are being offered as to the rate of interest, terms & conditions, repayments, overdue etc.

(b) 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. Accordingly clauses 4 (iii) (f) and (g) of the Order are not applicable.

4. In our opinion and according to the information and explanations given to us during the course of audit, there are adequate internal control procedures commensurate with the size of the Company and nature of its business.

5. (a) Based upon the audit procedures applied by us and according to the information and explanations given to us, we are of the opinion that the particulars of contracts and arrangements referred to in section 301 of the Companies Act, 1956 have been entered in the register required to be maintained under that section.

(b) In our opinion and according to the information and explanations given to us during the course of audit, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of The Companies Act, 1956 and aggregating during the year Rs. 5 Lakhs or more have been made at prices which are reasonable having regard to prevailing market price, where such market prices are available. However no such transaction took place during the year.

6. The Company has not accepted any deposits from the public within the meaning of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 including the Companies (Acceptance of Deposits) Rules, 1975.

7. According to the information and explanation given to us company has an in house internal audit system which in our opinion commensurate with the size and nature of its business.

8. The Company is required to maintain the cost record, under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956, which are as explained to us, under compilation. We are however not required to make a detailed examination of such books and records.

9. (a) In our opinion, the company is regular in depositing undisputed statutory dues including Provident Fund, and other statutory dues with the appropriate authorities. There are no arrears of outstanding statutory dues as at the last day of the financial year for more than six months.

(b) In our opinion and according to the information and explanation given to us during the course of audit, no dispute is pending with regard to sales tax, income tax, custom duty, excise duty.

10. In our opinion the company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year.

11. In our opinion, and according to the information and explanations given to us, the company has not defaulted in repayments of dues to any financial institution or bank.

12. The Company has not granted loans and advances on the basis of security by way of pledge of shares and other securities.

13. The Company does not fall within the category of Chit fund / Nidhi / Mutual Benefit fund / Society and hence the related reporting requirements of the Order are not applicable.

14. According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments and hence the related reporting requirements of the Order are not applicable.

15. According to the information and explanations given to us, the Company has not provided guarantee of any type for loans taken by others.

16. The Company has not taken any Term Loans hence the related reporting requirement of the order is not applicable.

17. The Company has not taken any loan on a short-term basis in the previous year hence the related reporting requirement of the order is not applicable.

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

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

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

21. Based on our examination of the books and records of the Company and according to information and explanations given to us, no fraud on or by the Company have been noticed.

For DOOGAR & ASSOCIATES CHARTERED ACCOUNTANTS Firm Reg. No.-000561N

Place: New Delhi MUKESH GOYAL Date : 28.05.2014 MG. PARTNER M.No. 081810


Mar 31, 2013

Report on the financial statements

We have audited the accompanying financial statements of East Buildtech Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2013, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s responsibility for the financial statements

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 principles generally accepted in India, including accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the Balance Sheet, of the state of affairs of the company as at March 31, 2013;

(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, we give in the Annexure ''A'' a statement on the matters specified in paragraphs 4 and 5 of the Order.

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

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

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

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

d. In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow statement dealt with by this report comply with the Accounting Standards referred to in the Companies (Accounting Standards) Rules 2006 issued by the Central Government in exercise of the power conferred under sub- section (I) (a) of section 642 of the Companies Act 1956, to the extent applicable.

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 disqualified as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Companies Act, 1956.

ANNEXURE TO THE AUDITORS'' REPORT

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

(b) The Company has a program of physical verification of its fixed asset which, in our opinion, is reasonable having regard to trie size of the Company and nature of its assets.

(c) No substantial part of fixed Assets were disposed off during the year affecting the principle of going concern.

2. (a) The stock of saleable commercial space

has been physically verified at the reasonable interval by the, management during the year. In our opinion, the frequency of such verification is reasonable.

(b) The procedures for the physical verification of saleable commercial space followed by the management are, in our opinion, reasonable and adequate in relation to the size of the company and nature of its business.

(c) In our opinion, the company is maintaining proper records of inventory. Minor discrepancies have been noticed on physical verification of inventory which have been properly accounted for.

3. (a) The Company has not accepted/granted any unsecured loan from/to Company, Firms or other Parties listed in the register maintained under section 301 of the Companies Act, 1956. Therefore no comments are being offered as to the rate of interest, terms & conditions, repayments, overdue etc.

(b) 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. Accordingly clauses 4 (iii) (f) and (g) of the Order are not applicable.

4. In our opinion and according to the information and explanations given to us during the course of audit, there are adequate internal control procedures commensurate with the size of the Company and nature of its business.

5. (a) Based upon the audit procedures applied by us and according to the information and explanations given to us, we are of the opinion that the particulars of contracts and arrangements referred to in section 301 of the Companies Act, 1956 have been entered in the register required to be maintained under that section.

(b) In our opinion and according to the information and explanations given to us during the course of audit, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of The Companies Act, 1956 and aggregating during the year Rs. 5 Lakhs or more have been made at prices which are reasonable having regard to prevailing market price, where such market prices are available. However no such transaction took place during the year.

6. The Company has not accepted any deposits from the public within the meaning of sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 including the Companies (Acceptance of Deposits) Rules, 1975.

7. According to the information and explanation given to us company has an in house internal audit system which in our opinion commensurate with the size and nature of its business.

8. The Company is required to maintain the cost record, under clause (d) of sub-section (1) of section 209 of the Companies Act ,1956.Which are as explained to us, under compilation. We are however not required to make a detailed examination of such books and records.

9. (a) In our opinion, the company is regular in depositing undisputed statutory dues including Provident Fund, and other statutory dues with the appropriate authorities. There are no arrears of outstanding statutory dues as at the last day of the financial year for more than six months.

(b) In our opinion and according to the information and explanation given to us during the course of audit, no dispute is pending with regard to sales tax, income tax, custom duty, excise duty.

10. In our opinion the company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year.

11. In our opinion, and according to the information and explanations given to us, the company has not defaulted in repayments of dues to any financial institution or bank.

12. The Company has not granted loans and advances on the basis of security by way of pledge of shares and other securities.

13. The Company does not fall within the category of Chit fund / Nidhi / Mutual Benefit fund / Society and hence the related reporting requirements of the Order are not applicable.

14. According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments and hence the related reporting requirements of the Order are not applicable.

15. According to the information and explanations given to us, the Company has not provided guarantee of any type for loans taken by others.

16. The Company has not taken any Term Loans hence the related reporting requirement of the order is not applicable.

17. According to the information and explanations given to us, the funds raised in the previous year by the Company on short term basis have not been applied for long term purposes.

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

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

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

21. Based on our examination of the books and records of the Company and according to information and explanations given to us, no fraud on or by the Company have been noticed.

For DOOGAR & ASSOCIATES CHARTERED ACCOUNTANTS

Firm Reg. No.-000561N

Place: New Delhi MUKESH GOYAL

Date : 23.05.2013 MG. PARTNER

M.No. 081810


Mar 31, 2012

We have audited the attached Balance Sheet of East Buildtech Ltd. as at 31st March 2012, and Statement of Profit & Loss Account and 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.

We 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 management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

As required by the Companies (Auditor's Report) (Amendment) Order, 2004 issued by the Central Government of India in terms of section 227(4A) of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraphs 4 & 5 of the said Order.

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 it appears from our examination of those books.

iii) The Balance Sheet and Statement of Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account.

iv) In our opinion, the Balance Sheet and Statement of Profit & Loss Account and Cash flow statement dealt with by this report comply with the Accounting Standards referred to in the Companies (Accounting Standards) Rules 2006 issued by the Central Government in exercise of the power conferred under sub-section (1) (a) of section 642 of Companies Act 1956, to the extent applicable.

(v) On the basis of the written representations received from the Directors as on 31st March, 2012 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March, 2012 from being appointed as a Director in terms of Clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956.

(vi) In our opinion and to the best of out information and according to the explanation given to us, the said accounts give the information required by the Companies Act 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(i) in the case of Balance Sheet of the State of Affairs of the Company as at 31st March, 2012.

(ii) in the case of Statement of Profit & Loss of the Profit for the year ended on that date.

(iii) in the case of Cash Flow statement of the Cash Flows for the year ended on that date.

ANNEXURE TO THE AUDITORS' REPORT

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

(b) The Company has a programme of physical verification of its fixed asset which, in our opinion, is reasonable having regard to the size of the Company and nature of its assets.

(c) No substantial part of fixed Assets were disposed off during the year affecting the principle of going concern.

2. (a) The stock of saleable commercial space has been physically verified at the reasonable interval by the, management during the year. In our opinion, the frequency of such verification is reasonable.

(b) The procedures for the physical verification of saleable commercial space followed by the management are, in our opinion, reasonable and adequate in relation to the size of the company and nature of its business.

(c) In our opinion, the company is maintaining proper records of inventory. Minor discrepancies have been noticed on physical verification of inventory which have been properly accounted for.

3. The Company has not accepted/granted any unsecured loan from/to Company, Firms or other Parties listed in the register maintained under section 301 of the Companies Act, 1956. Therefore no comments are being offered as to the rate of interest, terms & conditions, repayments, overdue etc.

4. In our opinion and according to the information and explanations given to us during the course of audit, there are adequate internal control procedures commensurate with the size of the Company and nature of its business.

5. (a) Based upon the audit procedures applied by us and according to the information and explanations given to us, we are of the opinion, that transactions required 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 during the course of audit, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of The Companies Act, 1956 and aggregating during the year Rs. 5 Lakhs or more have been made at prices which are reasonable having regard to prevailing market price, where such market prices are available. However no such transaction took place during the year.

6. The Company has not accepted any deposits from the public within the meaning of section 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and Companies (Acceptance of Deposits) Rules, 1975.

7. According to the information and explanation given to us company has an in house internal audit system which in our opinion commensurate with the size and nature of its business.

8. The Company is required to maintain the cost record, under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956. Which are as explained to us, under compilation. We are however not required to make a detailed examination of such books and records.

9. (a) In our opinion, the company is regular in depositing undisputed statutory dues including Provident Fund, and other statutory dues with the appropriate authorities. There are no arrears of outstanding statutory dues as at the last day of the financial year for more than six months.

(b) In our opinion and according to the information and explanation given to us during the course of audit, no dispute is pending with regard to sales tax, income tax, custom duty, excise duty.

10. In our opinion the company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year.

11. In our opinion, and according to the information and explanations given to us, the company has not defaulted in repayments of dues to any financial institution or bank.

12. The Company has not granted loans and advances on the basis of security by way of pledge of shares and other securities.

13. The Company does not fall within the category of chit fund/Nidhi/Mutual Benefit fund / Society and hence related reporting requirements are not applicable.

14. According to the information and explanation given to us, the company is not dealing or trading in shares, securities, debentures and other investments and hence related reporting requirements are not applicable.

15. According to the information and explanations given to us, the Company has not provided guarantee of any type for loans taken by others.

16. The Company has not taken any Term Loans hence the related reporting requirement of the order is not applicable.

17. According to the information and explanations given to us, the funds raised in the previous year by the Company on short term basis has not been applied for long term purposes.

18. The Company has not made any preferential allotment of shares to parties covered in the register maintained under section 301 of the Companies Act 1956.

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

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

21. Based on our examination of the books and records of the Company and according to information and explanations given to us, no fraud on or by the Company have been noticed.

For DOOGAR & ASSOCIATES CHARTERED ACCOUNTANTS Firm Reg. No. - 000561N

MUKESH GOYAL MG. PARTNER M.No. 081810

Place: New Delhi Date : 30.07.2012


Mar 31, 2010

We have audited the attached Balance Sheet of East Buildtech Ltd. (Formerly Chokhani Business Limited) as at 31st March 2010, and Profit & Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto.

These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with 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.

As required by the Companies (Auditors Report) (Amendment) Order, 2004 issued by the Central Government of India in terms of section 227(4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 & 5 of the said Order.

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.

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

iv) In our opinion, the Balance Sheet and Profit & Loss Account dealt with by this report comply with the Accounting Standards referred to in the Companies (Accounting Standards) Rules 2006 issued by the Central Government in exercise of the power conferred under sub-section (1) (a) of section 642 of Companies Act 1956,to the extent applicable.

v) On the basis of the written representations received from the Directors, and taken on 31st March, 2010 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March, 2010 from being appointed as a Director in terms of Clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956.

In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act,1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(i) in the case of 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.

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

ANNEXURE TO THE AUDITORS REPORT

1. (a) The Company is maintaining proper records showing full particulars including quantitative details and situations of Fixed assets.

(b) The Company has a programme of physical verification of its fixed asset which, in our opinion, is reasonable having regard to the size of the Company and nature of its assets.

(c) No Fixed assets were disposed off during the year affecting the principle of going concern.

2. (a) The stock of saleable commercial space has been physically verified at reasonable intervals by the management during the year. In our opinion, the frequency of such verification is reasonable.

(b) The procedures for the physical verification of saleable commercial space followed by the management are, in our opinion, reasonable and adequate in relation to the size of the company and nature of its business.

(c) In our opinion, the Company is maintaining proper records of inventory. Minor discrepancies have been noticed on physical verification of inventory which has been properly accounted for.

3. The Company has not accepted/granted any unsecured loan to/from Company, Firms or other Parties listed in the register maintained under section 301 of the Companies Act, 1956. Therefore no comments are being offered as to the rate of interest, terms & conditions, repayments, overdue etc.

4. In our opinion and according to the information and explanations given to us during the course of audit, there are adequate internal control procedures commensurate with the size of the Company and nature of its business.

5. (a) Based upon the audit procedures applied

by us and according to the information and explanations given to us, we are of the opinion, that the transactions required 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 during the course of audit, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year Rs. 5 Lakhs or more have been made at prices which are reasonable having regard to prevailing market price, where such market prices are available.

6. The Company has not accepted any deposits from the public within the meaning of section 58A, 58AA or any other relevant provisions of the Companies Act, 1956 and Companies (Acceptance of Deposits) Rules, 1975.

7. According to the information and explanations given to us, the Company has an in house internal audit system which in our opinion commensurate with the size and nature of its business.

8. The Company is not required to maintain the cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

9. (a) In our opinion , the Company is regular in

depositing undisputed statutory dues including Provident Fund, and other statutory dues with the appropriate authorities. There are no arrears of outstanding statutory dues as at the last day of the financial year for more than six months. (b) In our opinion, and according to the information and explanations given to us during the course of audit, no dispute is pending with regard to sales tax, income tax, custom duty, excise duty.

10. In our opinion, the Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and the immediately preceding financial year.

11. According to the information and explanation given to us and as per books and records examined by us, the Company has not defaulted in repayment of dues to any financial institution or bank.

12 The Company has not granted loans and advances on the basis of security by way of pledge of shares and other securities.

13 The Company does not fall within the category of chit fund / Nidhi / Mutual Benefit fund / Society and hence related reporting requirements are not applicable.

14. According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments and hence related reporting requirements are not applicable.

15. According to the information and explanations given to us, the Company has not provided guarantee of any type for loans taken by others.

16. The Company has not raised Term Loans during the financial year; hence the related reporting requirements are not applicable.

17. According to the information and explanations given to us, the fund raised by the Company in the previous year on Short-term basis has not been applied for Long-term purposes.

18. The Company has not made any preferential allotment of shares to parties covered in the register maintained under section 301 of the Act.

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

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

21. Based on our examination of the books and records of the Company and according to information and explanations given to us, no fraud on or by the Company has been noticed.



for DOOGAR & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Reg. No.-000561N

Place: New Delhi MUKESH GOYAL

Date : 30.07.2010 MG. PARTNER

M.No. 081810



 
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