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Auditor Report of F Mec International Financial Services Ltd.

Mar 31, 2015

We have audited the attached Balance Sheet of F Mec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2015, and the Statement of Profit & Loss and cash flow statement of the Company 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 accounting principles generally accepted in India, including the Accounting standards notified under the section 133 of the Companies Act, 2013, read with Rule 7 Companies( Accounts) Rules,2014. 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 risks 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 but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. 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 the affairs of the company as at 31st March, 2015;

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, we enclose in the Annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

2. As required by Section 143(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 purposes of our audit;

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

c. The Balance Sheet, 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, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in section 133 of the Companies Act, 2013, read with Rule 7 Companies( Accounts) Rules,2014;

e. On the basis of written representations received from the directors as on 31st March, 2014 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of terms of section 164(2) of the Act;

f. With respect to the adequacy of the Internal financial controls over financial reporting of a company and the operating effectiveness of such control

g. With respect to the other matters to be included in Auditor's report in accordance with Rule 11 of the Companies (Audit & Auditors)Rules, 2014, in our opinion and best to our information and according to the explanations given to us:

(i) The company does not have any pending litigations which would impact its financial position.

(ii) The company did not have any long term contracts including derivative contracts, for which there were any material foreseeable losses.

(iii) There were no amounts which were required to be transferred to the Investor Education and Protection fund by the Company.

(As mentioned in Para 3 to Auditor's Report to the members of M/s F Mec INTERNATIONAL FINANCIAL SERVICES LIMITED for the year ended 31st March, 2015)

1. The Company has neither acquired nor having any fixed assets for the year ended 31.03.2015

2. (i) the company has a inventory of shares only.

(ii) the procedures of physical verification of inventory followed by the management reasonable and adequate in relation to the size of the company and the nature of its business

(iii) the company has maintained proper records of inventories. As explained to us, there were no material discrepancies noticed on physical verification of inventories as compared to the book records.

3. The company has not granted any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 189 of the Act.

4. In our opinion and according to the information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and also for the sale of goods and services. During the course of our audit, we have not observed any major weakness in internal control system.

5. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013.

6. As informed to us, the Central Government has not prescribed maintenance of cost records under sub- section (1) of Section 148 of the Act

7. (a) According to the information and explanations given to us and based on the records of the company examined by us, the company is regular in depositing the undisputed statutory dues, including Provident Fund, , Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material statutory dues, as applicable, with the appropriate authorities in India ;

(b) According to the information and explanations given to us and based on the records of the company examined by us, there are no dues of Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise Duty which have not been deposited on account of any disputes

(c) There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of reporting delay in transferring such sums does not arise

8. According to the records of the company examined by us and as per the information and explanations given to us, the company has not availed of any loans from any financial institution or banks and has not issued debentures.

9. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loan taken by others from a bank or financial institution during the year

10. In our opinion, and according to the information and explanations given to us, the company has not raised any term loans during the year

11. During the course of our examination of the books and records of the company, carried in accordance with the auditing standards generally accepted in India, we have neither come across any instance of fraud on or by the Company noticed or reported during the course of our audit nor have we been informed of any such instance by the Management.

For RAJESH RANJIT & Co Chartered Accountants FRNO.- 021745N

RAJESH KUMAR Place : Delhi Partner Dated : 28.05.2015 M No. - 506726


Mar 31, 2014

We have audited the attached Balance Sheet of F Mec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2014, and the Statement of Profit 86 Loss and cash flow statement of the Company 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 accounting principles generally accepted in India, including the Accounting standards notified under the companies Act, 1956 read with General circular 15/2013 dated 13 September 2013, issued by the Ministry of Corporate Affairs, in respect of section 133 of the Companies Act, 2013. 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 risks 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 but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. 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 companies Act, 1956 ("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 the affairs of the company as at 31st March, 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, 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 paragraph 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 purposes of our audit;

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

c. The Balance Sheet, 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, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (30) of section 21 1 of the Companies Act, 1956;

e. On the basis of written representations received from the directors

as on 31st March, 2014 and taken on record by the Board of Directors, we report that 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) of section 274 of the Companies Act, 1956;

f. In our opinion, and to the best of our information and according to 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 far view in conformity with the accounting principles generally accepted in India;

(Referred to in paragraph 3 of our report of even date)

Annexure reffered to in our report of even date

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

(b) Fixed assets have been physically verified by the management during the year and no material discrepencies were identified on such verification.

(c) There was no substantial disposal of fixed assets during the year

(ii) (a) The Company is a Non-Banking Financial Company ('NBFC') engaged in the business of providing loans and advances and does not have inventory. Therefore, the provisions of clause 4(ii) of the order are not applicable to the Company.

iii) (a) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Act. Accordingly, the provisions of clause 4(iii)(a) to (d) of the Order are not applicable to the Company and hence not commented upon.

(b) According to Information and explanations given to us, the Company has taken Rs. 0.34 Lacs from its subsidiary company. There are no other parties covered in the registered maintained under section 301 of the Act. Accordingly, the provisions of clause 4(iii) (e) to (g) of the order are not applicable to the Company and hence not commented upon.

(iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business, for the purchase of fixed assets and for rendering of services. The activities of the company do not involve purchase of inventory and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. During the course of our audit , we have not observed any continuing failure to correct major weakness in internal control system in respect of these areas.

(V) According to the information & explanations provided by the management, we are of the opinion that there are no contracts or arrangements that need to be entered in the register maintained under section 301 of the act. Accordingly, the provisions of clause 4(v)(b) of the order is not applicable to company and hence not commented upon.

(vi) The Company has not accepted any deposits from the public.

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

(viii) The provisions of clause 4(viii) of the Order are not applicable to the company in the year under audit and hence not reported upon.

(Xi)(a) Undisputed statutory dues including employee's state insurance, cess and other material statutory dues have generally been regularly deposited with the appropriate authorities.

As informed, provisions of investor education and protection fund, sales tax, wealth tax, custom duty and excise duty are currently not applicable to the company.

(b) According to the information and explanation given to us, no undisputed amounts payment in respect of provident fund, employees state insurance, income tax, service tax, cess and other undisputed statutory dues (except listing fees of Rs. 2,39,873/-) were outstanding, at the year end, for a period of more than six months from the date they became payable(except listing fees of Rs. 2,39,873/-).

As informed, provisions of investor education and protection fund, sales tax, wealth tax, custom duty and excise duty are currently not applicable to the Company.

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

As informed, provisions of investor education and protection fund, sales tax, wealth tax, custom duty and excise duty are currently not applicable to the company.

(X) The company has no accumulated losses at the end of the financial year and it has no incurred cash loss in the current and immediately preceding financial year.

(Xi) Best on our audit procedures and as per the information and explanations given by the management has not defaulted in repayment of dues to financial institutions and banks,

Xii) According to the information and explanations given to us and based on the examination of documents and record produced to us, the company has maintained adequate records where the company has granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

Xiii) 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 order are not applicable to the company.

Xiv) In respect of dealing/ trading in shares, securities, debentures and other investment, in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The shares, securities, debentures and other investment have been held by the company, in its own name.

Xv) According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from bank or financial institutions.

Xvi) The company did not have any term loans outstanding during the year.

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

Xviii) The company has not made any preferential allotment of shares to parties or companies covered in the register maintained under section 301 of the Act.

Xix) The company did not have any outstanding debentures during the year.

XX) The company has not raised money through public issue during the year.

XXI) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the year.

For RAJESH RAN JIT & Co Chartered Accountants FRNO.-02174SN

RAJESH KUMAR Partner Place : Delhi M No.- 506726


Mar 31, 2013

1. We have audited the attached Balance Sheet of FMec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2013, and also the Profit & Loss Account and the cash flow statement of the Company for the year ended on that date annexed thereto. These -financial statements are the responsibility of the Company management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial 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 paragraph 4 and 5 of the said order.

4. Further to our comments I the Annexure referred to in the 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 appears. from our examination of those books;

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

d. In our opinion, the Balance Sheet, Profit & 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;

e. On the basis of written representations received from the directors as on 31st March, 2013 and taken on record by the Board of Directors, we report that none of the, directors is disqualified as on 31st March, 2013 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 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 far view in conformity with the accounting principles generally accepted in India;

i. in the case of the Balance Sheet, of the state of the affairs of the company as at 31st March, 2013:

ii. in the case of the Profit and Loss Account of the Loss for the year ended on that date; and

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

(Referred to in paragraph 3 of our report of even date)

i) The company has no fixed assets therefore the requirement of reporting on physical verification or maintenance of fixed assets record does not arise.

ii) . To the best of our knowledge and as per the information and explanations given to us, the company has not purchased/sold goods during the year nor there is any opening stock, the requirement of reporting on physical verification of stock or maintenance of inventory records in our opinion does not arise.

iii) . As per information & explanation given to us, the company has taken interest free unsecured loan of Rs. 0.34 lacs from its subsidiary company. There are no party covered in the register maintained U/s 301 of the Companies Act 1956 to which the company has granted advance.

iv). 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 its business for the purchase of inventory, fixed assets and for the sale of goods. During the course of Audit, no major weakness has been noticed in the internal controls.

v) . a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered in to 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 have been made at prices which are reasonable having regard to prevailing market prices at the relevant time where such market price are available.

Vi) To the best of our knowledge, the company has not accepted any deposits covered under section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the companies (acceptance of deposits) Rules, 1975. To the best of our knowledge and according to the information and explanations given to us, no order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal.

Vii) To the best of our knowledge and explanations given to us, the Company has an internal audit system commensurate with its size and the nature of its business.

Viii) According to the information & explanations provided by the management, the company is not engaged in production, processing, manufacturing or mining activities. Hence, the provisions of section 209(I)(d) do not apply to the company. Hence, in our opinion, no comment on maintenance of cost records under Section 209 (I) (d) is required.

IX) To the best of our knowledge and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investors Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and any other statutory dues (except listing fees of Rs.2,32,373/-), where applicable, with the appropriate authorities. There were no arrears of outstanding statutory dues as at the last day of financial year for a period of more than six months from the date they become payable except listing fees of Rs 2,32,373/-.

To the best of our knowledge and according to information and explanation given to us there were no disputed dues of sales tax, income tax, custom duty, wealth tax, service tax, excise duty and cess.

X) The company was incorporated on 7th February 1996. Since the company is registered for more than five years and is not having any accumulated losses more then 50%, we are of the opinion that no comment is required under clause (x) of para 4 of order regarding the erosion of 50% or more of net worth and cash losses in the current and immediately preceding financial years.

Xi) 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 debenture holders.

Xii) On the basis of verification of accounts and records maintained by the Company and to the best of our knowledge & belief, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

Xiii) 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' Reports) Order, 2003 are not applicable to the company.

XiV) To the best of our knowledge and according to information given to us, the Company is maintaining proper records for the transactions and contracts of dealing or trading in shares, debentures and other investments. The company is making timely entries in the records.

XV) To the best of our knowledge and according to the information and explanation given to us, the Company has not given any guarantee for loans taken by others from Banks/ Financial Institutions.

Xvi) To the best of our knowledge and according to the information and explanations given to us, the company has not taken any term loan during the year.

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 the no funds raised on short-term basis have been used for long-term investment.

Xviii) According to the information & explanation given to us, the Company has not made any preferential allotment of shares during the year to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956.

XiX) In our opinion and according to the information & explanations given to us the the Company has not issued any secured debentures during the period covered by our report. Accordingly, the provisions of clause (xix) of the Companies (Auditor's Report) order, 2003 are not applicable to the company.

XX) According to the information & explanations given to us, the Company has not raised any money by Public Issue during the year.

XXi) Based upon the audit procedure performed and information and explanation given by the management we report that no fraud on or by the Company has been noticed or reported during the year.

For FARM & SMRN Chartered Accountants FRNO:- 507094C

RISHI KUMAR Partner

Place : New Delhi. Dated: 02.09.2013


Mar 31, 2012

1. We have audited the attached Balance Sheet of FMec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2013, and also the Profit & Loss Account and the cash flow statement of the Company for the year ended on that date annexed thereto. These -financial statements are the responsibility of the Company management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial 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 paragraph 4 and 5 of the said order.

4. Further to our comments I the Annexure referred to in the 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 appears. from our examination of those books;

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

d. In our opinion, the Balance Sheet, Profit & 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;

e. On the basis of written representations received from the directors as on 31st March, 2013 and taken on record by the Board of Directors, we report that none of the, directors is disqualified as on 31st March, 2013 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 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 far view in conformity with the accounting principles generally accepted in India;

i. in the case of the Balance Sheet, of the state of the affairs of the company as at 31st March, 2013:

ii. in the case of the Profit and Loss Account of the Loss for the year ended on that date; and

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

(Referred to in paragraph 3 of our report of even date)

i) The company has no fixed assets therefore the requirement of reporting on physical verification or maintenance of fixed assets record does not arise.

ii) . To the best of our knowledge and as per the information and explanations given to us, the company has not purchased/sold goods during the year nor there is any opening stock, the requirement of reporting on physical verification of stock or maintenance of inventory records in our opinion does not arise.

iii) . As per information & explanation given to us, the company has taken interest free unsecured loan of Rs. 0.34 lacs from its subsidiary company. There are no party covered in the register maintained U/s 301 of the Companies Act 1956 to which the company has granted advance.

iv). 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 its business for the purchase of inventory, fixed assets and for the sale of goods. During the course of Audit, no major weakness has been noticed in the internal controls.

v) . a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered in to 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 have been made at prices which are reasonable having regard to prevailing market prices at the relevant time where such market price are available.

Vi) To the best of our knowledge, the company has not accepted any deposits covered under section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the companies (acceptance of deposits) Rules, 1975. To the best of our knowledge and according to the information and explanations given to us, no order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal.

Vii) To the best of our knowledge and explanations given to us, the Company has an internal audit system commensurate with its size and the nature of its business.

Viii) According to the information & explanations provided by the management, the company is not engaged in production, processing, manufacturing or mining activities. Hence, the provisions of section 209(I)(d) do not apply to the company. Hence, in our opinion, no comment on maintenance of cost records under Section 209 (I) (d) is required.

IX) To the best of our knowledge and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investors Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and any other statutory dues (except listing fees of Rs.2,32,373/-), where applicable, with the appropriate authorities. There were no arrears of outstanding statutory dues as at the last day of financial year for a period of more than six months from the date they become payable except listing fees of Rs 2,32,373/-.

To the best of our knowledge and according to information and explanation given to us there were no disputed dues of sales tax, income tax, custom duty, wealth tax, service tax, excise duty and cess.

X) The company was incorporated on 7th February 1996. Since the company is registered for more than five years and is not having any accumulated losses more then 50%, we are of the opinion that no comment is required under clause (x) of para 4 of order regarding the erosion of 50% or more of net worth and cash losses in the current and immediately preceding financial years.

Xi) 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 debenture holders.

Xii) On the basis of verification of accounts and records maintained by the Company and to the best of our knowledge & belief, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

Xiii) 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' Reports) Order, 2003 are not applicable to the company.

XiV) To the best of our knowledge and according to information given to us, the Company is maintaining proper records for the transactions and contracts of dealing or trading in shares, debentures and other investments. The company is making timely entries in the records.

XV) To the best of our knowledge and according to the information and explanation given to us, the Company has not given any guarantee for loans taken by others from Banks/ Financial Institutions.

Xvi) To the best of our knowledge and according to the information and explanations given to us, the company has not taken any term loan during the year.

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 the no funds raised on short-term basis have been used for long-term investment.

Xviii) According to the information & explanation given to us, the Company has not made any preferential allotment of shares during the year to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956.

XiX) In our opinion and according to the information & explanations given to us the the Company has not issued any secured debentures during the period covered by our report. Accordingly, the provisions of clause (xix) of the Companies (Auditor's Report) order, 2003 are not applicable to the company.

XX) According to the information & explanations given to us, the Company has not raised any money by Public Issue during the year.

XXi) Based upon the audit procedure performed and information and explanation given by the management we report that no fraud on or by the Company has been noticed or reported during the year.

For FARM & SMRN Chartered Accountants FRNO:- 507094C

Sd/- RISHI KUMAR Partner

Place : New Delhi. Dated: 03.09.2012

 
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