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Auditor Report of Genus Commu-Trade Ltd.

Mar 31, 2012

1. We have audited the attached Balance Sheet of Genus Commu-trade Limited as at 31st March 2012 and also the Statement of Profit & Loss and Cash Flow Statement for the year on that date annexed thereto (together referred to as ''financial statements''). These financial statements are the responsibility of the Company''s management. Our responsibility is to express an opinion on the financial statements based on our audit.

2. 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 test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003, as amended by the Companies (Auditor''s Report) (Amendment) order,2004 ("the said Order") issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, on the basis of such checks of the books and records of the Company as we considered necessary and appropriate, and according to the information and explanations given to us during the course of the audit, 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 in the Annexure referred to in paragraph 3 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 purpose of our audit;

(ii) in our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of the books;

(iii) the Balance Sheet, the Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(iv) in our opinion, the Balance Sheet, the Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in compliance in all material aspect with the accounting standard referred to in Section 211 (3C) of the Companies Act, 1956 so far as it is applicable to the Company;

(v) On the basis of the written representation received from the Directors as at 31.03.2012 and taken on record by the Board of Directors, we report that none of the Directors of the Company are disqualified as on 31.03.2012 from being appointed as director under Sec. 274 (1) (g) of the Companies Act, 1956;

(vi) in our opinion, and to the best of our information, and according to the explanations given to us, the said financial statements read together with 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 :

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012 and

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

(c) In the case of the Cash Flow Statement, of the Cash Flow for the year ended on 31st March, 2012.

Annexure to the Auditors'' Report

Annexure referred to in paragraph 3 of our report of even date to the members of the Genus Commu-trade Limited on the financial statements for the year ended March 31st, 2012

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

b) The Fixed Assets have been physically verified by the management during the year and no material discrepancies were noticed on such verification. In our opinion, the frequency of verification of the fixed assets is reasonable having regards to the size of the Company and the nature of its fixed assets.

c) As during the year, the Company has not disposed off any Fixed Assets, hence clause 4(i) (c) of the Order is not applicable to the Company.

ii. a) The Inventories (Shares) have been verified during the year by the management at the reasonable interval. In our opinion, the frequency of verification is reasonable.

b) The procedures as explained to us, which are followed by the management for physical verification of inventories, are reasonable and adequate in relation to the size of the company and the nature of its business.

c) The Company has maintained proper record of inventory. No material discrepancies noticed on physical verification of inventories as compared to book records.

iii. a) According to the information & explanation given to us, the company has not granted loans to Companies, firms or other parties listed in the register maintained u/s 301 of the Companies Act 1956. Accordingly, sub-clause 4(iii)(b), (c) and (d) in relation to loan granted are not commented upon.

b) The Company has taken loan from a Company and other parties covered in the register maintained under section 301 of the Companies Act, 1956.

c) In our opinion, terms & condition on which loans have taken from such person listed in the register maintained under section 301 of the Companies Act, 1956 are not prima- facie prejudicial to the interest of the Company.

d) In the case of loan taken by the Company, there are no stipulations as to repayment of principal amount; hence we are unable to report about regularity as well as overdue amount of principal and interest.

iv. In our opinion and according to the information and explanations given to us, there are generally adequate internal control procedure commensurate with the size of the company and the nature of its business with regard to the purchase of fixed assets, inventories & Sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal controls.

v. a) In our opinion and according to the information and explanations given to us, during the period there are no contracts or arrangements, particulars of which needs to be entered into the register maintained under section 301 of the Companies Act, 1956.

b) Sub clause (b) is not applicable.

vi. In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from the public within the meaning of section 58A and 58AA of the Companies Act, 1956, and the rules framed there under. We are informed that no order has been passed by the company Law Board, National Law Tribunal or Reserve Bank of India or any court or any other tribunal.

vii. The Company do not have formal internal audit, but Company''s control procedures ensures reasonable internal checking of its financial & other records.

viii. According to the information and explanation given to us, maintenance of cost records has not been prescribed by the Central Government under Section 209(1 )(d) of the Companies Act,1956 for any of the activities of the Company. Hence the question of reporting under clause 4(viii) of the said Order does not arise.

ix. a) According to the information and explanations given to us and the records of the Company examined by us, during the year there were no disputed statutory dues including Income Tax dues, Sales Tax, Wealth Tax, Service Tax, Custom Duty Excise Duty, Cess & other statutory; We have been informed by the company Provision of Provident Fund, Employees State Insurance Scheme is not applicable and also provisions of Investor Education & Protection Fund these are not applicable hence the question of whether the Company was regular in depositing undisputed statutory dues does not arise.

b) As per records of the Company and according to the information and explanation given to us, no disputed amount payable in respect of Income Tax, Wealth Tax, Service Tax , Sales Tax, Customs Duty, & Excise Duty as at 31.03.2012 for a period more than six months from the date they become payable.

c) According to the information & explanation given to us ,there are no dues of Sale Tax, Income tax, customs duty , Service Tax , wealth tax, excise duty and Cess which have not been deposited on account of any dispute.

x. The Company has accumulated losses at the end of the financial year more than 50% of its net worth and has incurred cash losses at the end of the financial year and immediately preceding financial year.

xi. According to information & explanations given to us, the Company has not raised any loans from Banks or financial institution, hence clause 4 (xi) of the order are not applicable to the Company.

xii. According to information & explanations given to us, 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. The Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provision of clause 4 (xiii) of the Order are not applicable to the Company.

xiv. The provision of clause 4 (xiv) of the order are not applicable, as the Company is not dealing in or trading in shares, securities, debentures, and other investments.

xv. According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from a bank or financial institutions and hence the provision of clause 4 (xv) of the Order is not applicable to the Company.

xvi. The Company has not availed any term loans; accordingly, the question of reporting on its applications does not arise. Therefore, the provision of clause 4 (xvi) of the Order are not applicable to the Company.

xvii. According to the information and explanations given to us and as on overall examination of the Balance Sheet of the Company, We report that no funds raised on short term basis have been used during the year for the long term investment

xviii. 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.

xix. There are no debentures issued or outstanding during the year.

xx. During the year covered by our audit report, the Company has not raised any money by way of public issue.

xxi. During the course of our examination of the books of account, carried out in accordance with generally accepted auditing practice in India, and according to the information and explanations given to us, we have neither come across any incidence of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of any such case by management.

For Vishves A. Shah & Co.

Chartered Accountants

Vishves A. Shah

Proprietor

M. No. 109944

Place: Palanpur

Date: 02/09/2012


Mar 31, 2011

1. We have audited the attached Balance Sheet of GENUS COMMU-TRADE LIMITED as at 31st March, 2011 and the related Profit and Loss Account for the year ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conduct 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 of our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003 as amended by Companies (Auditor's Report) amendment Order, 2004 (together with the order) issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956 and as per the information and explanation given to us during the course of our audit, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to out comments in the Annexure referred in paragraph (3) above and information and explanations provided to us, 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 accounts as required by the law have been kept by the Company so far as it appears from our examination of such books.

c. The Balance Sheet, Profit & Loss Account and the Cash Flow Statement referred to in this report are in agreement with the Books of Account of the Company.

d. In our opinion, these financial statements comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 except as stated in para f(i) and (ii) below.

e. On the basis of written representations received from the Directors as on 31st March, 2011 and taken on record by the Board of Directors, we report that none of the Directors of the company are disqualified as on 31st March, 2011 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 explanations given to us, the accounts 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 the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2011 and

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

Annexure referred to in paragraph 3 of our report even date:

1. a. Proper records showing full particulars including quantitative details and situation of Fixed Assets of the Company are being updated.

b. The Management physically verifies the fixed assets of the Company. No material discrepancies were noticed on verification.

c. No substantial parts of the fixed assets have been disposed off during the year

2. a. At the end of the year the company has inventory of shares of Rs.15,10,87,500.

b. The shares are Valued at purchase cost.

c. Inventories have been physically verified by the management at regular intervals during the year.

3. a. The Company has taken loans from Companies, Firms and other parties other than Directors. Proper records and Register is maintained under Section 301 of the Act. No amount was borrowed from the Directors of the Company during the year & other financial institution.

b. In our opinion, the terms and conditions, on which loans have been taken from Companies, firms and other parties listed in the register maintained under Section 301 of the Companies Act, 1956 and from the companies under the same Management are not prima fade, prejudicial to the interest of the Company.

c. The Principal & Interest Repaid as stipulated.

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 its business, with regard to purchases of plant and machinery, equipment and other assets and with regard to the sale of goods.

5. a. According to the information and explanation given to us, we are of the opinion at the transactions that need to be entered into the register maintained under section 301 of the Act, have been entered.

b. In our opinion and according to the information and explanation given to us, there are no any transaction more than INR 50,000 or more of purchase of goods and materials and sale of goods, materials and services, made in pursuance of contracts or arrangements entered in the registers maintained under Section 301 and aggregating during the year in respect of each party, so this provision is not applicable.

5. In our opinion and according to the information and explanation given to us, the Company has not accepted any deposits; hence the provision of section 58A of the Companies Act, 1956 and Companies (acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public are not applicable.

7. In our opinion, the company has no requirement of any internal audit system commensurate with the size and nature of its business.

8. The maintenance of cost records has not been prescribed by the Central Government under section 209(1 )(d) of the Companies Act, 1956 for any of its products.

9. a. According to the information and explanation given to us, the Company is generally regular in depositing with the appropriate authorities, undisputed statutory dues including Provident Fund, ESIC, Income Tax, Sales Tax, Excise Duty, Cess and any other material statutory dues applicable to it.

b. According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, Excise Duty and Cess were outstanding as at 31st March, 2011 for a period of more than six months from the date they became payable.

10. The Company has accumulated losses of Rs.2,77,33,495 The Company has incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

11. In our opinion and according to the information and explanation given to us, the Company has not defaulted in repayment of dues to financial institutions or banks.

12. According to the information and explanations given to us, the Company has not granted, loans and advances on the basis of securities by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4(xH) of the Companies (Auditors Report) order, 2003 are not applicable to the Company.

13. 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 (Auditors Report) order, 2003 are not applicable to the Company.

14. The Company has maintained proper records of the transactions and contracts in respect of dealing or trading in shares, securities, debentures and other investments and timely entries have been made therein. All shares, securities, debentures and other investments have been held by the Company in its own name.

15. As informed 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, and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term assets. No long-term funds have been used to finance short-term assets.

17. The Company has not made any preferential allotment of shares to the companies, firms or other parties listed in the register maintained u/s. 301 of the Companies Act.

18. The Company has not issued any debentures.

19. During the period covered by our audit report, the Company has not raised any money by public issue.

20. To the best of our knowledge and belief and 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 Vishves A. Shah & Co. Chartered Accountants

Vishves A. Shah Proprietor M. No. 109944

Place: Ahmedabad Date : August 28, 2011


Mar 31, 2010

1. We have audited the attached Balance sheet of GENUS COMMU-TRADE LIMITED as at 31st March, 2010 and the related Profit & Loss Account for the year ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

2, we conduct 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 mis-statement 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 reasonable basis for our opinion.

3, as required by the Companies (Auditor''s Report) Order, 2003 as amended by Companies (Auditor''s Report) amendment order, 2004 (together with the order) issued by the Central Government of India in terms of sub section (4A) of section 227 of the companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to in paragraph (3) above and information and explanations provided to us, we report that:

1) We have obtained ail the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of the audit.

2) In our opinion, proper books of accounts as required by the law have been kept by the Company so far it appears from our examination of such books.

3) The Balance sheet, Profit & Loss Account and the cash Flow statement referred to in this report are In agreement with the books of the company.

4) in our opinion, these financial statements com ply with the Accounting Standards referred to in sub section (30 of section 211 of the companies Act 1956, except as stated in Para 6 (a) and (b) below.

5) On the basis of written representations received from the Directors, as 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.

6) In our opinion and according to the formation and according to the explanations given to us the accounts together with the notes thereon of schedule 12 and In particular give the information required by the companies Art. 1956 In the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

a) In the case of the Balance sheet, of the state of affairs of the company as at 31st March 2010.and

b) In the case of profit and loss Account of the loss for the year ended on 31st March 2010

1. a. proper records showing full particulars including quantitative details and situation of Fixed Assets of the Company are belong pated.

b. The Management physically verifies the fixed assets of the company, no material discrepancies were noticed on verification.

c. No substantial parts of the fixe desserts have been disposed off during the year

2. a. Attends of the year company has inventory of shares of Rs.217331659.

b. The Shares are valued at purchase cost.

c. Inventories have been physically verified by the management at regular intervals during the year.

3. a. The Company has taken loans from companies, Firms or other parties other than Directors;

Proper records and Register is maintained under Section 301 of the Act. No amount was borrowed from the Directors of the company during the year & other financial Institutes.

b. in our opinion, the terms and conditions, on which loans have been taken from companies, firms or other parties listed in the register maintained under Section 301 of the companies Act, 1956 and from the companies under the same Management, are not prima facie, prejudicial to the interest of the company.

c. The Principal & interest Repaid as Stipulated.

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 its business, with regard to purchases of plant and machinery, equipment and other assets and with regard to the sale of goods.

5. a. According to the information and explanation given to us, we are of the opinion at the transactions that need to be entered into the register maintained under section 301 of the Act, have been entered.

b. In our opinion and according to the information and explanation given to us, There Is no any transactions more than Rs. 50,000/- or more of purchase of goods and materials and sale of goods, materials and services, made in pursuance of contracts or arrangements entered in the registers maintained under section 301 and aggregating during the year in respect of each party, so this provision is not applicable

6. in our opinion and according to the information and explanation given to us, the company has not accepted any deposits; hence the provision of section 58A of the Companies Act, 1956 and Companies (acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the pubic care not applicable.

7. In our opinion, the company has no requirement of any internal audit system commensurate with the size and nature of its business.

8. The Central Government has not prescribed for maintenance of cost records under section 209 (1) (d)of the companies Act,l956 for the products of the company.

9. a. According to the Information and explanation given to us, the company is generally regular in depositing with the appropriate authorities, undisputed statutory dues including Provident Fund, ESic, income Tax, Sales Tax, Excise Duty, cess and any other material statue . dues applicable to it.

b. According to the information and explanations given to us, no undisputed amounts payable In respect of income Tax, wealth Tax, sales Tax, Custom duty, Excise Duty and Cess were outstanding

as at 31st March, 201 o for a period of more than six months from the date they became payable.

10. The Company have accumulated losses of rs.3633824. The company has incurred cash losses during the financial year covered by our audit -

11. in our opinion and according to the information and explanation given to us, the Company has not defaulted in repayment of dues to financial institutions or banks.

12. According to the information and explanations given to us, the company has not granted loans and advances on the basis of securities by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4(xi) of the Companies (Auditors Report) order 2003 are not applicable to the Company.

13. 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 (Auditors Report) order, 2003 are not applicable to the Company.

14. The Company has maintained proper records of the transactions and contracts in respect of dealing or trading in shares, securities, debentures and other investments and timely entries have been made therein. All shares, securities, debentures and other Investments have been held by the company in its own name.

15. As informed 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, and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term assets, no long-term funds have been used to finance short-term assets.

17. The Company has not made any preferential allotment of shares to the companies, firms or other parties listed I n the register maintained u/s. 301 of the Companies Act.

18. The company has not issued any debentures.

19. During the period covered by our audit report, the Company has not raised any money by public

20. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the com pany has been noticed or rep forted during the course of our audit.

For vishves A. Shah & Co.

Chartered Accountants

Place : Ahmedabad Firm No 121356 w

Date : 28th Aug 2010 vishves A.Shah

proprieter M. No. 109944


Mar 31, 2009

We have audited the attached Balance Sheet of GENUS COMMU TRADE LTD as at 31st March, 2009 and also the Profit and Loss Accounts 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 .

1. we have conducted our audit in accordance with auditing standard generally accepted in India. Those standards require that we paln 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 over all financial statements presentation .We belive that our audit provides a resonable basis for our opinion.

2. As required by the Companies Auditors Report Order 2003 ,issued by the Central Government of India in term of section 227(4A) of the Companies Act.1956 and on the basis of such checks as we considered appropriate and as per inforamtion and explanation given to us during the course of our audit ,we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said order

3 .Further to our comments in the annexure referred to the paragraph 3 above, we report as under :-

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 accounts as required by Law have been kept by the company so far as appears from ourexamination of the books.

c.The Balance Sheet and Profit & Loss Account dealt with by this Report are in agreement with the books of account of the company .

d. In our opnion , the Balance Sheet and the Profit & Loss Accounts dealt with by the report are in compliance with the Accounting standards referred to in section 211(3C)of the companies Act,1956.

e. On the basis of written representation received from the directors and take on records by the Board of Directors, we report you that none of the Directors of the company disqualified as on 31st march 2009 from being appointed as Director of the company under clause(g) of sub-section (1) of section 274 of the Act 1956 .

f. In our opinion and to the best of our informaion and accroding to the explanations given to us ,the said Financial Statement read together with the notes thereon give the information required by the comapines Act,1956 in the manner so required and give a true and fair view in conformity with the Accounting Principle generally accepted in India .

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

(ii) In the case of profit and Loss Account of the Profit of the company for the year ended on that date.

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

ANNEXURE TO THE AUDITORS REPORT REFERRED TO IN PARAGRAPH 2 OF OUR REPORT OF EVEN DATE

In Respect of Fixed Assets:

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

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals in a phased manner in accordance with a programme of verification adopted by the company which in our opinion is reasonable, having regard to the company and nature if its assets. To the best of our knowledge no material discrepancies were noticed on such verification.

(c) In our opinion, the company has not disposed off substantial part of fixed assets during the year and the going concern status of the Company is not affected.

2. In respect of Inventories:

(a) As explained to us, the inventories have been physically verified by the management at reasonable intervals during the year. In our opinion, the frequency of such verification is reasonable having regard to the size of the Company and the nature of its business.

(b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and nature of the business.

(c) The Company has maintained proper records of inventory. As explained to us, there were no material discrepancies noticed on physical verification of the having regard to the size of the operations of the Company.

3. In respect of loans, secured or unsecured, granted or taken by the Company to/ from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956.

(a) The company has not taken or granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Act.

(b) Since 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. Hence the relevant Para for the rate of interest, payment of principal amount & interest and overdue are not applicable .

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

5, in respect of transaction covered under section 301 of the Companies Act, 1955.

(a) Based on audit procedures applied by us and according to the information and explanation given to us, the transaction that needed to be entered into the register have been so entered,

(b) In our opinion and according to the information and explanation given to us, there are no transactions in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act. 1956 aggregating during the year to Rs, 5,00,000/- (Rupees Five Lac only) or more in respect of any party

6. In our opinion and according to the information and explanation given to us the Company has not accepted any deposit from the public during the financial year. Hence Provision of Clause (vi) Companies (Auditors Report) Order, 2003 is not applicable to the Company

7. In our opinion and according to the information and explanation given to us the company has adequate internal audit system commensurate with the size and nature of the business.

8. The maintenance of cost records has not been prescribed by the Central Government under section 209 (1) (d) of the Companies Act, 1956 for any of its products.

9. In respect of Statutory Dues: According to the information and explanations given to us, there are no undisputed and outstanding amount payable in respect of Provident fund, Investor Education and Protection fund, Employees State Insurance, Income- Tax, Sales-Tax, Wealth Tax, Custom Duty, Excise Duty, Excise and any other statutory dues with the appropriate authorities as a 31st March 2009 for a period of more than six moths from the date they become payable.

10. The company has no accumulated losses,

11. Based on our audit procedure and according to the information and explanations given to us, we are of the opinion that the company has not defaulted in repayment of dues to financial institutions or banks.

12. In our opinion and according to the information and explanations given to us. No loans and advances have been granted by the company on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion, the company is not a chit fund or a nidhi/mutul benefit fund society.

Therefore the provision of clause 4(xiii) of the Companies (Auditors Report) order 2003, is not applicable to the company.

14. The company is dealing in shares, security, debentures and other investments, for which proper records have been maintained of the transactions and timely entries have been made therein. Securities held as stock in trade by the company are held in the name of Company or in the name of its nominees except to the extent of the exemption granted under Section 49 of the Act.

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

16. The company has not raised term loans during the year. Therefore, the provision of clause 4(xvi) of the Companies (Auditors Report) order 2003, is not applicable to the company.

17. According to the information and explanation given to us and on and overall examination of Balance sheet of the company, funds raised on short-term basis, prima facie, have not been used during the year for long-term investment. Similarly long-term funds, prima facie have not been used to finance short-term assets.

18. During the year, the company has not made any preferential allotment of share to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956. Therefore, the provision of clause 4(xviii) of the Companies 9Auditors Report) order 2003, is not applicable to the company.

19. The company has not issued any debentures. Therefore, the provision of clause 4{xix) of the Companies (Auditors) order 2003, is not applicable to the company.

20. The company has not raised any money by public issue during the year, therefore, the provision of clause 4(xx) of the Companies (Auditors Report) order 2003, is not applicable to the company.

21. 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 course of our audit for the year ended March 31, 2009.



for Shirish Dalal & Associates Chartered Accountants

Shirish Dalal Place :AHMEDABAD Proprietor Date .05-09-2009 M. No. F-8996

 
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