Mar 31, 2012
I We have audited the attached Balance Sheet of LEGACY MERCANTILE
PRIVATE LIMITEDas at 31st March, 2012 and also the Profit and Loss A/c
for the year ended on that date annexed thereto. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
We conducted our audit in accordance with auditing standards generally
accepted in India. 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 managements, as well as evaluating overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
2. Further to our comments in the annexure referred to above, we report
that;
(a) We have obtained all the information and explanation, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
(b) In our opinion, proper Books of Account as required by law, have
been kept by the Company so far as appears from our examination of the
Books.
(c) The attached Balance Sheet and Profit & Loss Account are in
agreement with the Books of Account.
(d) In our opinion, the Profit & Loss Account and Balance Sheet comply
with the applicable 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 31 March 2012 and taken on record by the Board of Directors, we
report that none of the Directors is disqualified as on 31sr March 2012
from being appointed as 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 read together with the notes
thereon in Schedule-6, in particular subject to give 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 the Company's
affairs as at 31" March 2012; and
ii) In the case of the Profit & Loss Account of the Profit of the
Company for the year ended on that date.
SHOBHIT BANSAL & ASSOCIATES
CHARTERED ACCOUNTANTS
VFIRMFIRMES. NO.-021322N
PRIYA JAIN (PARTNER)
MEM. NO.-500847
Place ;New Delhi
Dated :109.2012