Auditor Report of Enbee Trade & Finance Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of M/s ENBEE TRADE AND FINANCE LIMITED, (The Company) which comprise the Balance Sheet as at March 31, 2014, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

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 referred to in sub-section (3C) of section 211 of the Companies Act, 1956. 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 Profit and Loss Account, 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 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 said 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 and 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 and Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

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

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

ANNEXURE TO THE AUDIRORS'' REPORT FOR THE YEAR ENDED 31ST MARCH, 2014 (Referred to in Paragraph 1 of our report of even date)

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

(b) As explained to us, all the fixed assets except machinery in stock were physically verified during the year by the management. According to the information and explanations given to us, no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, the Company has not disposed substantial part of its fixed assets during the year.

2. There is no inventory in the Company.

3. (a) The company has granted unsecured loans to a company covered in the register maintained under section 301 of the Companies Act, 1956. The Maximum amount involved was Rs. 17.25 lacs and there is Nil balance at the end of the year.

(b) In our opinion the rate of interest and other terms and conditions on which unsecured loan have been given to the Company listed in the register maintained under section 301 of the Companies Act, 1956 are prima facia, not prejudicial to the interest of the Company.

(c) In our opinion and according to the information and explanation given to us, the Company is regular in payment of principal and interest thereon.

(d) As explained to us there is no overdue amount of Loans exceeding Rupees one Lacs.

(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.

4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of the business with regards 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.

5. (a) According to the information and explanations given to us, the particulars of contract or arrangement 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, there are no transactions made in pursuance of such contracts and arrangements and aggregating to Rs. 500000/-in respect of each party.

6. The Company has not accepted any deposits from the public to which the provisions of Section 58A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1975 apply.

7. During the year the Company has no internal audit system, as in the opinion of management, considering the size and nature of its business and personal supervision by the Directors, the same is considered to be adequate and commensurate with its size and nature of its business.

8. In view of the activities of the Company maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 is not applicable.

9. (a) According to the information and explanations given to us and on the basis of records of the Company, the Company is regular in depositing with appropriate authorities undisputed statutory dues, including Provident Fund, Investor Education Protection Fund, Employees'' State Insurance, Income-Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise-Duty, cess and other statutory dues, as applicable, with the appropriate authorities.

(b) According to the information and explanation given to us, there are no dues of Sales Tax, Income Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty and Cess which have not been deposited on account of any dispute.

10. There are no accumulated losses in the Company and the Company has not incurred any cash loss in the year under review or in the immediately preceding year.

11. The Company has not taken any loan from Financial Institutions or Banks or Debenture holders.

12. According to the information and explanations given to us, the Company has not granted any loans or advances on the basis of security by way of pledge of Shares, Debentures and other Securities.

13. The Company is not a chit fund or a nidhi/mutual benefit fund/society.

14. The Company is not dealing in or trading in shares, securities, debentures and other investments. All the Shares and Securities held as investments are in company''s own name.

15. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from Banks or Financial Institutions.

16. According to the information and explanations given to us, there are no term loans raised by the Company during the year.

17. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, in our opinion, no funds raised on short-term basis have been used for long-term investment.

18. According to the information and explanations given to us, during the year the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.

19. According to the information and explanations given to us, the Company has not issued any debentures during the year.

20. According to the information and explanations given to us, the Company has not raised any money through public issues during the year.

21. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

For B. CHHAWCHHARIA & CO. Chartered Accountants Place: NAGPUR SANJAY AGARWAL Date: 22nd May, 2014 Partner Firm Registration No. 305123E Membership No. 66580

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Mar 31, 2010

We have audited the attached Balance Sheet of Bajaj Global Limited as on 31st March, 2010 and also the Profit and Loss Account of the Company for the year ended on that date annexed thereto and the Financial statesment are the responsibility of the companys Management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

2. As required by the Manufacturing and Other Companies (Auditors Report) Order, 2003, and the Companies (Auditors Report)( Amendment) Order, 2004 issued under the Companies Act,1956, and on the basis of the such cheks as we consider appropriate we enclose in the Annexure a atatement on the matters specified in a pragraph 4 and 5 of the said order.

3. Further to our comments in the Annexure referred to in paragraph (3) above, 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 purposes of our audit;

b) In our opinion, proper books of account as required by law have been kept by the Company so far as 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 the books of account.

d) In our opinion, the Balance Sheet and Profit and Loss account comply with the Accounting Standards referred to in Sub- Section (3C) of Section 211 of the Companies Act, 1956, to the extent applicable and

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

f) In our opinion and to the best of our information and according to the explanation given to us, the said accounts read with the notes thereon gives the information required by Companies Act, 1956 in the maanner so required and give a true and fair view in confirmity with the accounting principles generally accepted in India:

I In the case of the Balance Sheet of the state of affairs of the company as at 31 st March 2010 and

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

III In the case of Cash Flow statements of the Cash Flows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT FOR THE YEAR ENDED 31st MARCH, 2010 (Referred to in Paragraph 1 of our report of even date)

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

(b) As explained to us, all the fixed assets were physically verified during the year by the management According to the information and explanations given to us, no material discrepancies were noticed on such verification.

(c) During the year, in our opinion, a substantial part of fixed assets has not been disposed off by the Company.

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

Accordingly sub-clauses (b), (c), (d), (f) and (g) of para 4 (iii) are not applicable.

3 In our opinion and according to the information and explanations given to us there are adequate internal control procedures commensurate with the size of the company and the nature of the business with regards to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls.

4 Based upon the audit procedures, performed and according to the information and explanations given to us, there are-no transactions that need to be entered into the register maintained in pursuance of section 301 of the Companies Act, 1956.

Sub-clause (b) of para 4(v) of the Order is not applicable.

5. The Company has not accepted any deposits from the public to which the provisions of Section 58A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1975 apply.

6. During the year the Company has no internal audit system, as in the opinion of management, considering the Size and nature of its business and personal supervision by the Directors, the same is considered to be adequate and commensurate with its size and nature of its business.

7. The Central Government has not prescribed the maintenance of cost records under section 209(l)(d) of the Companies Act, 1956.

8.( a) According to the information and explanations given to us and on the basis of records of the Company, the Company is regular in depositing with appropriate authorities undisputed statutory dues, including Provident Fund, Investor Education Protection Fund, Employees State Insurance Income- Tax, Wealth Tax, Service Tax, Custom Duty, Excise-Duty, cess and other statutory dues applicable to it.

(b) According to the information and explanation given to us, there are no dues of Sales Tax Income Tax, Customs Duty, Wealth Tax, Service Tax, Excise Duty and Cess which have no, been deposited on account of any dispute.

9. The Company does not have any accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year.

10. The Company has not taken any loan from Financial Institutions or Banks or Debenture holders.

11 According to the information and explanations given to us, the Company has not granted any loans or advances on the basis of security by way of pledge of Shares, Debentures and other Securities.

12. The Company is not a chit fund or a nidhi /mutual benefit fund/society.

13 As per the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investment. The investments have been held in its own name.

14. The Company has not given any guarantee for loans taken by others from banks or financial institutions.

15. According to the information and explanations given to us, there are no term loans raised by the Company during the year.

16 According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, in our opinion, no funds raised on short-term basis have been used for long-term investment.

17 According to the information and explanations given to us, during the year the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 30) of the Companies Act, 1956.

18. According to the information and explanations given to us, the Company has not issued any debentures during the year.

19. According to the information and explanations given to us, the Company has not raised any money through public issues during the year.

20. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

Looking to the nature of activities being carried on, at present, by the Company and also considering the nature of matters referred to in the various clauses of the Companies {Auditors Report) Order, 2003, and the Companies (Auditors Report) (Amendment) Order, 2004, clauses (ii) of paragraph 4 of the aforesaid order is in our opinion, not applicable to the Company.

For BANKIM V. SHAH Chartered Accountants

( BANKIM V. SHAH) Proprietor Membership No. 31800

NAGPUR Dated: 04.09.2010

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Mar 31, 2009

We have audited the attached Balance Sheet of Enbee Trade & Finance Limited as on 31st March, 2009 and also the Profit and Loss Account of Company for the year ended on that date annexed thereto and the Cash Flow Statement for the year ended on that date, which we have signed under reference to this report. These financial statements are the ssponsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

1. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that ws 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.

2. As required by the Manufacturing and other Companies (Auditors Report) Order, 2003 and the Companies (Auditors Report) (Amendment) Order, 2004 issued under the Companies Act, 1956, and on the basis of tide such checks as we consider appropriate we enclose in the Annexure a statement on the matters specified in paragraph 4 and 5 of the said Order.

3. Further to our comments in the Annexure referred to in paragraph 2 above, 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 has been kept by the Company so far as appears from out examination of books.

c) The Balance Shest and the Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

d) In our opinion, the Balance Sheet and the Profit & Loss Account comply with the Accounting Standards referred to in Sub-Section (3C) of Section 211 of the Companies Act, 1956, to the extent applicable and

e) On the basis of the written representation received from the Directors and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March, 2009 from being appointed as Directors in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956.

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

I. In case of the Balance Sheet, of the state of the Companys affairs as at 31st March, 2009 and, H. In the case of the Profit and Loss Account, of the Profit of the Company for the year ended on that date. III. In the case of Cash Flow Statements of the Cash Flows for the year ended on that date

ANNEXURE TO THE AUDITORS REPORT FOR THE YEAR ENDED 31ST MARCH, 2008 (Referred to in Paragraph 1 of our report of even date)

1. (a) The Company has maintained proper records showing full particulars including

quantitative details and situation of fixed assets.

(b) As explained to us, all the fixed assets were physically verified during the year by the management. According to the information and explanations given to us, no material discrepancies were noticed on such verification.

(c) During the year, in-our opinion, a substantial part of fixed assets ha? not been disposed off by the Company.

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

Accordingly sub-clauses (b), (c), (d), (f) and (g) of para 4 (iii) are not applicable.

3. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of the business with regards to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls.

4. Based upon the audit procedures, performed and according to the information and explanations given to us, there are no transactions that need to be entered into the register maintained in pursuance of section 301 of the Companies Act, 1956.

Sub-clause (b) of para 4(v) of the Order is not applicable.

5. The Company has not accepted any deposits from the public to which the provisions of Section 58A of the Companies Act, 1956 and the Companies (Acceptance of Deposit) Rules, 1975 apply.

6. During the year the Company has no internal audit system, as in the opinion of management, considering the size and nature of its business and personal supervision by the Directors, the same is considered to be adequate and commensurate with its size and nature of its business.

7. The Central Government has not prescribed the maintenance of cost records under section 209(1 )(d) of the Companies Act, 1956.

8. (a) According to the information and explanations given to us and on the basis of

records of the Company,, the Company is regular in depositing with appropriate authorities undisputed statutory dues, including Provident Fund, Investor Education Protection Fund, Employees State Insurance, Income-Tax, Sales Tax, Service Tax, Wealth Tax, Custom Duty, Excise-Duty, Cess and other statutory dues applicable to it. (b) According to the information and explanation given to us, there are no dues of Sales Tax, Income Tax, Customs Duty, Service Tax, Wealth Tax, Excise Duty and Cess which have not been deposited on account of any dispute.

9. The Company does not have any accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year.

10. The Company has not defaulted in repayment of dues to Financial Institutions or Banks or Debenture holders.

11. According to the information and explanations given to us, the Company has not granted any loans or advances on the basis of security by way of pledge of Shares, Debentures and other Securities.



12. The Company is not a chit fund or a nidhi / mutual benefit fund/society.

13. As per the information and explanations given to us the Company is not dealing in shares, securities and other investments. The Shares and securities have been held in its own name.

14. The Company has not given any guarantee for loans taken by others from banks or financial institutions.

15. According to the information and explanations given to us, there are no term loans raised by thje Company during the year.

16. Accordingto the information and explanations given to us and on an overall examination of the balance sheet of the Company, in our opinion, no funds raised on short-term basis have been used for long-term investment.

17. According to the information and explanations given to us, during the yearthe Company has net made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.

18. According) to the information and explanations given to us, the Company has not issued any debentures during the year.

19. According to the information and explanations given to us, the Company has not raised any money through public issues during the year.

20. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

For BANKIMV. SHAH Chartered Accountants NAGPUR (BANKIM SHAH) Dated: 04.09.2009 Proprietor Membership No.31800