Auditor Report of Kashyap Tele-Medicines Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of Kashyap Tele-Medicines Ltd. (Formerly known as Jindal Online.com Ltd.) as at 31st March, 2014 which comprise the Balance Sheet as on March 31, 2014, 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. These Financial Statements are the responsibility of the Company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

1. As required by the Companies (Auditors Report) order, 2003 issued by the Central Government in terms of Section 227(4A) of the Companies Act.,1956, we give in the annexure a statement on the matters specified in para 4 and 5 of the said order.

2. Further to our comments in the Annexure referred to in para 1 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 accounts as required by law have been kept by the company so far as it appears from my examination of the books;

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

d) In our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in compliance with the Accounting standards referred to in sub sec. (3C) of sec. 211 of The Companies Act.,1956.

e) On the basis of written representation from directors as on 31.03.2014 and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31.03.2014 from being appointed as a 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 me, the said accounts, read together with Notes thereon, give the information required by the Companies Act, 1956 in manner so required and give a true and fair view:

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

ii) In the case of the statement of Profit and Loss account, of the Profit for the year ended on 31st March 2014.

iii) In case of cash flow statement, of the cash flows for the year ended 31st March 2014.

(ANNEXURE TO THE AUDITOR''S REPORT)

1. FIXED ASSETS:- (a) The Company has maintained proper records showing full particulars include Quantitative details & situation of fixed assets.

(b) We have been informed that during the year these assets were physically verified by the management and no discrepancies were found on such verification.

(c) Substantial part of the fixed assets has not been disposed off or revalued during the year.

2. INVENTORIES:- (a) In our opinion and as per the information given to me, the procedures of physical verification of stocks adopted by the management is reasonable and adequate in relation to the size and the nature of its business carried out by the company.

(b) No discrepancies were found on physically verification of stock.

(c) In our opinion the method of valuation of the stocks is fair and proper and in accordance with the normally accepted accounting principles and is consistent with the method adopted in preceeding year.

3. LOANS

(a) The Company has not taken loans from companies, firms or other parties covered in the register maintained under sec. 301 of the Companies Act,1956.

(b) The Company had granted unsecured loans to One party listed in the register maintained under section 301 of the Companies Act, 1956. The maximum amount outstanding during the year of such loans aggregate to Rs. 3921350/- & the year ended balance being Rs. 3921350/-.

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

4. In our opinion & according to the information given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business. Further on the basis of our examination of the books and the records of the company and according to the information and explanations given to us, We have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedure.

5. RELATED PARTY TRANSACTIONS

(a) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contract or arrangements that need to be entered in the register maintained under section 301 of the companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us there were no transactions made in pursuance of contracts or arrangement that needed to be entered in the register maintained under section 301 and exceeding the value of Rs. 500000/- or in respect of any party; Hence clause 5 (b) is not applicable to the Company.

6. In our opinion and according to the information & explanations given to me, no deposit has been accepted by the company under the preview of the provisions of section 58A and 58AA of Companies Act, 1956 and the rules made there under.

7. In our opinion the Company has an internal audit system commensurate with the size and nature of its business.

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

9. STATUTORY DUTIES

(a) According to the 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, customs Duty, excise duty, cess and other statutory dues applicable to it with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, customs duty and excise duty & cess were outstanding as at 31st March, 2014 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to us, & the records of the company examined by me the particulars of the dues of Income tax, wealth tax, sales tax, custom duty & cess as at 31st March, 2014 which have not been deposited on account of dispute are nil.

10. The company has not incurred any cash Loss during the period covered by our audit and no cash Loss during the immediately proceeding financial year. The accumulated losses of the company as on 31.03.2014 stands at Rs. 2,66,03,987/ - which exceeds the net worth of the company by more than 50%. The accumulated losses of the company as on 31.03.2013 were Rs. 2,68,23,004/- 11. According to the records of the company examined by us and the information and explanations given by the management the company has not taken any loan from bank or financial institution. as at the balance sheet date.

12. The company has not granted any loans and advances on the basics of security by way of pledge of shares, debentures and other securities.

13. The company is not a chit fund/nidhi/mutual benefit fund/ societies. Hence sub clause (13) is not applicable to the company.

14. In our opinion the company is not a dealer or trader in shares, securities, debentures and other investments.

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. The company has not raised any term loans during the current financial year.

17. According to the information & explanation given to us & the 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 investment. No long-term funds have been used to finance short term assets except permanent working capital.

18. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the companies Act, 1956.

19. The company has not raised any money by public issues during the year.

20 During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, We have neither come across any instance of fraud on or by the company noticed or reputed during the year, nor have we been informed of such case by the management.

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

FOR, MEHRA ANIL & ASSOCIATES CHARTERED ACCOUNTANTS

PLACE :AHMEDABAD (ANIL MEHRA) DATE :29-05-2014 PROPRIETOR M.NO. 033052 FRNO. 117692W

---

Mar 31, 2013

We have audited the attached balance sheet of Kashyap Tele-Medicines Ltd. (Formerly known as Jindal Online.com Ltd.) as at 31st March''2013and also the Profit and loss Account of the company for the year ended on that date annexed thereto. These Financial Statement are the responsibility of the Company''s management. Our responsibility is to express an opinion on these financial statements and Cash Flow based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

1. As required by the Companies (Auditors Report) order, 2003 issued by the Central Government in terms of Section 227(4A) of the Companies Act., 1956, we give in the annexure a statement on the matters specified in para 4 and 5 of the said order.

2. Further to our comments in the Annexure referred to in para 1 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 accounts as required by law have been kept by the company so far as it appears from my examination of the books;

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

d) In our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in compliance with the Accounting standards referred to in sub sec. (3C) of sec. 211 of The Companies Act., 1956.

e) On the basis of written representation from directors as on 31.03.2013 and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31.03.2013 from being appointed as a 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 me, they said accounts, read together with Notes thereon, give the information required by the Companies Act, 1956 in manner so required and give a true and fair view: .

i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31 st March, 2013, and

ii) In the case of the statement of Profit and Loss account, of the Profit for the year ended on 31 st March 2013.

iii) In case of cash flow statement, of the cash flows for the year ended 31s1 March 2013 .

1. FIXED ASSETS:-

(a) The Company has maintained proper records showing full particulars include Quantitative details & situation of fixed assets.

(b) We have been informed that during the year these assets were physically verified by the management and no discrepancies were found on such verification.

(c) Substantial part of the fixed assets has not been disposed off or revalued during the year.

2. INVENTORIES:-

(a) In our opinion and as per the information given to me, the procedures of physical verification of stocks adopted by the management is reasonable and adequate in relation to the size and the nature of its business carried out by the company.

(b) No discrepancies were found on physically verification of stock.

(c) In our opinion the method of valuation of the stocks is fair and proper and in accordance with the normally accepted accounting principles and is consistent with the method adopted in preceding year.

3. LOANS

(a) The Company has not taken loans from companies, firms or other parties covered in the register maintained under sec. 301 of the Companies Act.,1956. The maximum amount outstanding during the year of such loans aggregate to Rs. Nil and the year ended balance being nil.

(b) The Company had granted unsecured loans to One party listed in the register maintained under section 301 of the Companies Act, 1956. The maximum amount outstanding during the year of such loans aggregate to Rs. 2571350/- & the year ended balance being Rs. 2571350/-.

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

4. In our opinion & according to the information given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business. Further on the basis of our examination of the books and the records of the company and according to the information and explanations given to us, We have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedure.

5. RELATED PARTY TRANSACTIONS

(a) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contract or arrangements that need to be entered in the register maintained under section 301 of the companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us there were no transactions made in pursuance of contracts or arrangement that needed to be entered in the register maintained under section 301 and exceeding the value of Rs.500000/- or in respect of any party; Hence clause 5 (b) is not applicable to the Company.

6. In our opinion and according to the information & explanations given to me, no deposit has been accepted by the company under the preview of the provisions of section 58A and 58AA of Companies Act, 1956 and the rules madQ there under.

7. In our opinion the Company has an internal audit system commensurate with the size and nature of its business.

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

9. STATUTORY DUTIES

(a) According to the 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, customs Duty, excise duty, cess and other statutory dues applicable to it with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, customs duty and excise duty & cess were outstanding as at 31 st March, 2013 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to us, & the records of the company examined by me the particulars of the dues of Income tax, wealth tax, sales tax, custom duty & cess as at 31st March, 2013 which have not been deposited on account of dispute are nil.

10. The company has not incurred any cash Loss during the period covered by our audit and no cash Loss during the immediately proceeding financial year. The accumulated losses of the company as on 31.03.2013 stands at Rs. 26823004/- which exceeds the net worth of the company by more than 50%. The accumulated losses of the company as on 31.03.2012 were Rs. 26952693/-

11. According to the records of the company examined by us and the information and explanations given by the management the company has not taken any loan from bank or financial institution, as at the balance sheet date.

12. The company has not granted any loans and advances on the basics of security by way of pledge of shares, debentures and other securities.

13. The company is not a chit fund/nidhi/mutual benefit fund/ societies. Hence sub clause (13) is not applicable to the company.

14. In our opinion the company is not a dealer or trader in shares, securities, debentures and other investments.

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. The company has not raised any term loans during the current financial year.

17. According to the information & explanation given to us & the 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 investment. No long-term funds have been used to finance short term assets except permanent working capital.

18. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the companies Act, 1956.

19. The company has not raised any money by public issues during the year.

20 During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, We have neither come across any instance of fraud on or by the company noticed or reputed during the year, nor have we been informed of such case by the management.

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

PLACE : AHMEDABAD FOR, MEHRA ANIL & ASSOCIATES

CHARTERED ACCOUNTANTS

DATE : 30/05/2013

(ANIL MEHRA)

PROPRIETOR

M.NO. 033052

FRNO. 117692W

---

Mar 31, 2012

We have audited the attached balance sheet of Kashyap Tele-Medicines Ltd. (Formerly known as Jindal Online.com Ltd.) as at 31st March'2012 and also the Profit and loss Account of the company for the year ended on that date annexed thereto. These Financial Statement are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements and Cash Flow based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India Those Standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

1. As required by the Companies (Auditors Report) order, 2003 issued by the Central Government in terms of Section 227(4A)of the Companies Act.,1956, we give in the annexure a statement on the matters specified in para 4 and 5 of the said order.

2. Further to our comments in the Annexure referred to in para 1 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 accounts as required by law have been kept by the company so far as it appears from my examination of the books;

c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the books of accounts;

d) In our opinion Balance Sheet and Profit & Loss A/c of the company comply with the Accounting standards referred to in sub sec. (3C) of sec. 211 of The Companies Act.,1956.

e) On the basis of written representation from directors as on 31.03.2012 and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31.03.2012 from being appointed as a 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 me, the said accounts, read together with Notes thereon, give the information required by the Companies Act, 1956 in manner so required and give a true and fair view:

i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012, and ii) In the case of Profit & Loss account, of the Profit for the year ended on 31 st March 2012. iii) In case of cash flow statement, of the cash flows for the year ended 31st March 2012.

(ANNEXURE TO THE AUDITOR'S REPORT)

1. FIXED ASSETS:-

(a) The Company has maintained proper records showing full particulars include Quantitative details & situation of fixed assets.

(b) We have been informed that during the year these assets were physically verified by the management and no discrepancies were found on such verification.

(c) Substantial part of the fixed assets has not been disposed off or revalued during the year.

2. INVENTORIES:-

(a) In our opinion and as per the information given to me, the procedures of physical verification of stocks adopted by the management is reasonable and adequate in relation to the size and the nature of its business carried out by the company.

(b) No discrepancies were found on physically verification of stock.

(c) In our opinion the method of valuation of the stocks is fair and proper and in accordance with the normally accepted accounting principles and is consistent with the method adopted in preceeding year.

3. LOANS

(a) The Company has not taken loans from companies, firms or other parties covered in the register maintained under sec. 301 of the Companies Act., 1956. The maximum amount outstanding during the year of such loans aggregate to Rs. Nil and the year ended balance being nil.

(b) The Company has granted unsecured loans to One party listed in the register maintained under section 301 of the Companies Act, 1956. The maximum amount outstanding during the year of such loans aggregate to Rs.2571350/- & the year ended balance being Rs. 2571350/-.

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

4. In our opinion & according to the information given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business. Further on the basis of our examination of the books and the records of the company and according to the information and explanations given to us, We have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedure.

5. RELATED PARTY TRANSACTIONS

(a) In our opinion & according to the information and explanations given to us, there were no transactions that need to be entered in to the register in pursuance to section 301 of the companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us there were no transactions made in pursuance of contracts or arrangement that needed to be entered in the register maintained under section 301 and exceeding the value of Rs.500000/- or in respect of any party hence clause 5 (b) is not applicable to the Company.

6. In our opinion and according to the information & explanations given to me, no deposit has been accepted by the company under the preview of the provisions of section 58A and 58AA of Companies Act, 1956 and the rules made there under.

7. In our opinion the Company has an internal audit system commensurate with the size and nature of its business.

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

9. STATUTORY DUTIES

(a) According to the 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, customs Duty, excise duty, cess and other statutory dues applicable to it with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, customs duty and excise duty & cess were in arrears as at 31 st March, 2012 for a period of six months from the date they became payable.

(c) According to the information and explanations given to us, & the records of the company examined by me the particulars of the dues of Income tax, wealth tax, sales tax, custom duty & cess as at 31s' March'2012 which have not been deposited on account of dispute are nil.

10. The company has not incurred any cash Loss during the period covered by our audit and no cash Loss during the immediately proceeding financial year. The accumulated losses of the company as on 31.03.2012 stands at Rs.26952693/- which exceeds the net worth of the company by more than 50%. The accumulated losses of the company as on 31.03.2011 were Rs.27262385/-.

11. According to the records of the company examined by us and the information and explanations given by the management the company has not taken any loan from bank or financial institution, as at the balance sheet date.

12. The company has not granted any loans and advances on the basics of security by way of pledge of shares, debentures and other securities.

13. The company is not a chit fund/nidhi/mutual benefit fund/ societies. Hence sub clause (13) is not applicable to the company.

14. In our opinion the company is not a dealer or trader in shares, securities, debentures and other investments.

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. The company has not raised any term loans during the current financial year.

17. According to the information & explanation given to us & the 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 investment. No long-term funds have been used to finance short term assets except permanent working capital.

18. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the companies Act, 1956.

19. The company has not raised any money by public issues during the year.

20 During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, We have neither come across any instance of fraud on or by the company noticed or reputed during the year, nor have we been informed of such case by the management.

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

PLACE : AHMEDABAD FOR, MEHRA ANIL & ASSOCIATES

CHARTERED ACCOUNTANTS DATE : 30/05/2012

(ANIL MEHRA)

PROPRIETOR

M.NO. 033052 _ FRNO. 117692W

---

Mar 31, 2011

We have audited the attached balance sheet of Kashyap Tele-Medicines Ltd. (Formerly known as Jindal Online.com Ltd.) as at 31st March'2011 and also the Profit and loss Account of the company for the year ended on that date annexed thereto. These Financial Statement are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India Those Standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

1. As required by the Companies (Auditors Report) order, 2003 issued by the Central Government in terms of Section 227(4A) of the Companies Act., 1956, we give in the annexure a statement on the matters specified in para 4 and 5 of the said order.

2. Further to our comments in the Annexure referred to in para 1 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 accounts as required by law have been kept by the company so far as it appears from my examination of the books;

c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the books of accounts;

d) In our opinion Balance Sheet and Profit & Loss A/c of the company comply with the Accounting standards referred to in sub sec. (3C) ofsec.211 of The Companies Act,1956. except one mentioned atpoint Schedule -0(1)(G).

e) On the basis of written representation from directors as on 31.03.2011 and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31.03.2011 from being appointed as a 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 me, the said accounts, read together with Notes thereon, give the information required by the Companies Act, 1956 in manner so required and give a true and fair view:

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 & Loss account of the Profit for the year ended on 31st March 2011. iii) In case of cash flow statement, of the cash flows for the year ended 31st March 2011.

(ANNEXURE TO THE AUDITOR'S REPORT)

1. FIXED ASSETS :-

(a) The Company has maintained proper records showing full particulars include Quantitative details & situation of fixed assets.

(b) We have been informed that during the year these assets were physically verified by the management and no discrepancies were found on such verification.

(c) Substantial part of the fixed assets has not been disposed off or revalued during the year.

2. INVENTORIES:-

(a) In our opinion and as per the information given to me, the procedures of physical verification of stocks adopted by the management is reasonable and adequate in relation to the size and the nature of its business carried out by the company.

(b) No discrepancies were found on physically verification of stock.

(c) In our opinion the method of valuation of the stocks is fair and proper and in accordance with the normally accepted accounting principles and is consistent with the method adopted in preceeding year.

3. LOANS

(a) The Company has not taken loans from companies, firms or other parties covered in the register maintained under sec. 301 of the Companies Act.,1956. The maximum amount outstanding during the year of such loans aggregate to Rs. Nil and the year ended balance being nil.

(b) The Company has granted unsecured loans to One party listed in the register maintained under section 301 of the Companies Act, 1956. The maximum amount outstanding during the year of such loans aggregate to Rs.2571350/- & the year ended balance being Rs. 2571350/-.

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

4. In our opinion & according to the information given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business. Further on the basis of our examination of the books and the records of the company and according to the information and explanations given to us, We have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedure.

5. RELATED PARTY TRANSACTIONS

(a) In our opinion & according to the information and explanations given to us, there were no transactions that need to be entered in to the register in pursuance to section 301 of the companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us there were no transactions made in pursuance of contracts or arrangement that needed to be entered in the register maintained under section 301 and exceeding the value of Rs.500000/- or in respect of any party hence clause 5 (b) is not applicable to the Company.

6. In our opinion and according to the information & explanations given to me, no deposit has been accepted by the company under the preview of the provisions of section 58A and 58AA of Companies Act, 1956 and the rules made there under.

7. In our opinion the Company has an internal audit system commensurate with the size and nature of its business.

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

9. STATUTORY DUTIES

(a) According to the 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, customs Duty, excise duty, cess and other statutory dues applicable to it with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, customs duty and excise duty & cess were in arrears as at 31st March, 2011 for a period of six months from the date they became payable.

(c) According to the information and explanations given to us, & the records of the company examined by me the particulars of the dues of Income tax, wealth tax, sales tax, custom duty & cess as at 31st March'2011 which have not been deposited on account of dispute are nil.

10. The company has not incurred any cash Loss during the period covered by our audit and no cash Loss during the immediately proceeding financial year. The accumulated losses of the company as on 31.03.2011 stands at Rs.27262385/- which exceeds the net worth of the company by more than 50%. The accumulated losses of the company as on 31.03.2010 were Rs.27910066/-.

11. According to the records of the company examined by us and the information and explanations given by the management the company has not taken any loan from bank or financial institution as at the balance sheet date.

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

13. The company is not a chit fund/nidhi/mutual benefit fund/ societies. Hence sub clause (13) is not applicable to the company.

14. In our opinion the company is not a dealer or trader in shares, securities, debentures and other investments.

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. The company has not raised any term loans during the current financial year.

17. According to the information & explanation given to us & the 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 investment. No long-term funds have been used to finance short term assets except permanent working capital.

18. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the companies Act, 1956.

19. The company has not raised any money by public issues during the year.

20 During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, We have neither come across any instance of fraud on or by the company noticed or reputed during the year, nor have we been informed of such case by the management.

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

PLACE : AHMEDABAD FOR, MEHRA ANIL & ASSOCIATES DATE : 30/05/2011 CHARTERED ACCOUNTANTS

(ANIL MEHRA) PROPRIETOR M.NO. 033052 FRNO. 117692W

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Mar 31, 2010

We have audited the attached balance sheet of Kashyap Tele-Medicines Ltd. (Formerly known as Jindal Online.com Ltd.) as at 31st March 2010 and also the Profit and loss Account of the company for the year ended on that date annexed thereto. These Financial Statement are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India Those Standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement are free of material misstatement. An Andit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

1 As required by the Companies (Auditors Report) order, 2003 issued by the Central Government in terms of Section 227(4 A) of the Companies Act., 1956, we give in the annexure a statement on the matters specified in para 4 and 5 of the said order.

2 Further to our comments in the Annexure referred to in para 1 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 accounts as required by law have been kept by the company so far as it appears from my examination of the books;

c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the books of accounts;

d) In our opinion Balance Sheet and Profit & Loss A/c of the company comply with the Accounting standards referred to in sub sec. (3C) of sec. 211 of The Companies Act.,1956. except one mentioned at point Schedule -0(1) (G).

e) On the basis of written representation from directors as on 31.03.2010 and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31.03.2010 from being appointed as a 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 me, the said accounts, read together with Notes thereon, give the information required by the Companies Act, 1956 in manner so required and give a true and fair view:

i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2010, and i) In the case of Profit & Loss account of the Profit for the year ended on 31st March 2010. iii) In case of cash flow statement, of the cash flows for the year ended 3 1st March 2010.

(ANNEXURE TO THE AUDITORS REPORT)

1. FIXED ASSETS :-

(a) The Company has maintained proper records showing full particulars include Quantitative details & situation of fixed assets.

(b) We have been informed that during the year these assets were physically verified by the management and no discrepancies were found on such verification.

(c) Substantial part of the fixed assets has not been disposed off or revalued during the year.

2. INVENTORIES :-

(a) In our opinion and as per the information given to me, the procedures of physical verification of stocks adopted by the management is reasonable and adequate in relation to the size and the nature of its business carried out by the company.

(b) No discrepancies were found on physically verification of stock.

(c) In our opinion the method of valuation of the stocks is fair and proper and in accordance with the normally accepted accounting principles and is consistent with the method adopted in preceeding year.

3. LOANS :-

(a) The Company has not taken loans from companies, firms or other parties covered in the register maintained under sec. 301 of the Companies Act.,1956. The maximum amount outstanding during the year of such loans aggregate to Rs. Nil and the year ended balance being nil.

(b) The Company has granted unsecured loans to One party listed in the register maintained under section 301 of the Companies Act, 1956. The maximum amount outstanding during the year of such loans aggregate to Rs. 1771350/-& the year ended balance being Rs. 1721350/-.

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

4. In our opinion & according to the information given to us, there is adequate internal control procedure commensurate with the size of the company and the nature of its business. Further on the basis of our examination of the books and the records of the company and according to the information and explanations given to us. We have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedure.

5. RELATED PARTY TRANSACTIONS

(a) In our opinion & according to the information and explanations given to us. there were no transactions that need to be entered in to the register in pursuance to section 301 of the companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us there were no transactions made in pursuance of contracts or arrangement that needed to be entered in the register maintained under section 301 and exceeding the value of Rs. 500000/- or in respect of any party hence clause 5 (b) is not applicable to the Company.

6. In our opinion and according to the information & explanations given to me, no deposit has been accepted by the company under the preview of the provisions of section 58 A and 58AA of Companies Act, 1956 and the rules made there under.

7. In our opinion the Company has an internal audit system commensurate with the size and nature of its business.

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

9. STATUTORYDUTTES

(a) According to the 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. customs Duty, excise duty, cess and other statutory dues applicable to it with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax. Sales Tax, customs duty and excise duty & cess were in arrears as at 31 st March, 2010 for a period of six months from the date they became payable.

(c) According to the information and explanations given to us, & the records of the company examined by me the particulars of the dues of Income tax, wealth tax, sales tax, custom duty & cess as at 31st March 2010 which have not been deposited on account of dispute are nil.

10 The company has not incurred any cash Loss during the period covered by our audit and no cash Loss during the immediately proceeding financial year. The accumulated losses of the company as on 31.03.2010 stands at Rs.27910066/- which exceeds the net worth of the company by more than 50%. The accumulated losses of the company as on 31.03.2009 were Rs.27969428/-.

11. According to the records of the company examined by us and the information and explanations given by the management the company has not taken any loan from bank or financial institution, as at the balance sheet date.

12. The company has not granted any loans and advances on the basics of security by way of pledge of shares, debentures and other securities.

13. The company is not a chit fund/ nidhi/ mutual benefit fund/ societies. Hence sub clause (13) is not applicable to the company.

14. In our opinion the company is not a dealer or trader in shares, securities, debentures and other investments.

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. The company has not raised any term loans during the current financial year.

17. According to the information & explanation given to us & the 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 investment. No long-term funds have been used to finance short term assets except permanent working capital.

18. The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the companies Act, 1956.

19. The company has not raised any money by public issues during the year.

20 During the course of our examination of the books and records of the company carried out in accordance with the generally accepted auditing practices in India and according to the information and explanations given to us, We have neither come across any instance of fraud on or by the company noticed or reputed during the year, nor have we been informed of such case by the management.

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

PLACE : AHMEDABAD FOR,MEHRA ANIL & ASSOCIATES

DATE : 30.05.2010 CHARTERED ACCOUNTANTS

(ANIL MEHRA)

PROPRIETOR

M.NO. 033052

FRNO. 117692W