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Auditor Report of Linkhouse Industries Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of Linkhouse Industries Ltd., which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014.

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that:

(a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

(b) in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books (and proper returns adequate for the purposes of our audit have been received from branches not visited by us;

(c) the Balance Sheet, Statement of Prot and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account (and with the returns received from branches not visited by us: d. in our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956.

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

ANNEXURE TO AUDITOR''S REPORT

(As referred to in Paragraph 1 of our report of Event Date)

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

(b) The management has physically verified all its fixed assets at reasonable intervals and no material discrepancies were noticed on such physical verification.

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

(ii) (a) As per the information furnished, the management at reasonable intervals during the year has physically verified the inventories.

(b) In our opinion and accordingly to the information and explanation given to us, procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(c) In our opinion, the company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to books record were not material and have been property dealt with in the books of account.

(iii) a) The company had granted any secured or unsecured loan to parties that are covered in the register maintained under section 301 of the Company Act, 1956.The amount involved is Rs.2234.51 Lakhs. The Parties involved are 9

b) The company had granted Interest free loan and the other terms and conditions of loans granted by the company are prima fade nit prejudicial to the interest of the company

The receipt of the principal amount and interest wherever applicable are regular

d) The overdue amount is more than rupees one lacs and reasonable steps have been taken by the company for recovery of the principal and interest

e) The Company has taken loans from companies firms or other parties listed in the register maintained under section 301 of the companies Act 1956. The amount involved is Rs.1061.76 Lakhs. The parties involved are 16.

f) The rate of interest and other terms and conditions of loans taken by the company secured or unsecured, are prima facie not prejudicial to the interest of the company

g) The payment of the principal amount and interest wherever applicable are regular.

(iv) In our opinion and according to the information and explanations given to us, there are generally adequate internal control procedures commensurate with the size of the company and the nature of its business for purchase of inventory and or fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in these internal controls.

(v) a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered in the register maintained under section 301 of the Companies Ad, 1956 have been so entered.

b) In our opinion and according to the information and explanation 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 and exceeding the value of rupees five lacs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) As per the information and explanation given to us, the Company has an internal audit system commensurate to the size of the Company and the nature of its business.

(viii) The Central Government has not prescribed maintenance of Cost Records under Section 209(1)(d) of the Companies Act, 1956 in respect of the Company''s product.

(ix) a) According to the information and explanation given to us and the records examined by us, the company is regular in depositing undisputed statutory dues including Employees State Insurance, Income Tax, Service Tax and any other statutory dues wherever applicable with the appropriate authorities. According to the information and explanation give to us, no undisputed arrears of statutory dues were outstanding as at 31s March, 2014 for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no statutory dues, which are outstanding on account of any dispute at the end of the year.

(x) The Company does not have accumulated losses at the end of the financial year and has not incurred cash losses in the current or in the immediately preceding financial year.

(xi) According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to any Financial Institution, Bank and the Company does not have any borrowings by way of debentures.

(xii) 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 provisions of any special statute applicable to chit funds/ nidhi/mutual benefits funds/society do not apply to the company.

(xiv) In our opinion, the Company is not a dealer or trader in Shares, Securities, Debentures and other Investments.

(xv) According to the information and explanations given to us by the management, the Company has not given any guarantee for loans taken by others from banks or Financial Institutions.

(xvi) The Company is regular in re-payment of Principal amount of term loan and interest due thereon.

(xvii) According to the information and explanations given to us and on 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.

(xviii) The Company has not made any allotment of equity Share on preferential basis to body corporate.

(xix) The Company has not issued any debentures.

(xx) The Company has not raised any money by public issues during the year.

(xxi) 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 reported during the year, nor have we been informed of such case by the management

For SANJAY S. AGRAWAL & CO. Chartered Accountants F.R NO.116200W

(Dhiraj M. Moryani) Partner M.No. 129877

Place: Nagpur

Date: 30/05/2014


Mar 31, 2012

1. We have audited the attached Balance Sheet of M/S. LINKHOUSE INDUSTRIES LIMITED, as at 31 March 2012 and its Profit and Loss Account 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.

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 as amended by Companies (Auditor''s Report) Order, 2004 issued by the Central Government of India in terms of Sub- section (4A)of the Section 227 (4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paras 4 and 5 of the said orders.

4. Further to our comments in the Annexure referred to 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 appears from the examination of such books.

c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the Books of Account of the company.

d) In our opinion the Balance Sheet and Profit & Loss Account dealt with by this report comply with Accounting Standards referred to in subsection (3c) of section 211 of the companies Act, 1956.

e) On the basis of written representations received from the Directors, as on 31st March, 2012 and taken on record by the Board of Directors, we report that none of the Director is disqualified as on 31st March, 2012 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 said statements of Account 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 on 31st March, 2012 and:

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

ANNEXURE TO AUDITOR''S REPORT (As referred to in Paragraph 1 of our report of Event Date)

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

b) The management has physically verified all its fixed assets at reasonable intervals and no material discrepancies were noticed on such physical verification.

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

(ii) a) As per the information furnished, the management at reasonable intervals during the year has physically verified the inventories.

b) In our opinion and accordingly to the information and explanation given to us, procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c) In our opinion, the company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to books record were not material and have been property dealt with in the books of account.

(iii) a) The company had granted unsecured loan to parties that are covered in the register maintained under section 301 of the Company Act, 1956. The amount involved is Rs.23.72 crores.

b) The company had granted Interest free loan and the other terms and conditions of loans given by the company are prima facie prejudicial to the interest of the company

c) The receipt of the principal amount and interest wherever applicable are regular.

d) There is no overdue amount more than rupees one lacs

e) The Company has taken loans from companies, firms or other parties listed in the register maintained under section 301 of the companies Act 1956. The amount involved is Rs. 10.85 crores.

f) The company had taken Interest free loan and the other terms and conditions of loans taken by the company are prima facie prejudicial to the interest of the company

g) The payment of the principal amount and interest wherever applicable are regular.

(iv) In our opinion and according to the information and explanations given to us, there are generally adequate internal control procedures commensurate with the size of the company and the nature of its business for purchase of inventory and or fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in these internal controls.

(v) a) According to the information and explanation given to us, we are of the opinion that the transactions 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 the transactions made in pursuance of contracts or arrangements entered in the Register maintained under Section 301 of the Companies Act, 1956 and exceeding the value of rupees five lacs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) As per the information and explanation given to us, the Company has an internal audit system commensurate to the size of the Company and the nature of its business.

(viii) The Central Government has not prescribed maintenance of Cost Records under Section 209(1 )(d) of the Companies Act, 1956 in respect of the Company''s product.

(ix) a) According to the information and explanation given to us and the records examined by us, the company is regular in depositing undisputed statutory dues including Employees State Insurance, Income Tax, Service Tax and any other statutory dues wherever applicable with the appropriate authorities. According to the information and explanation give to us, no undisputed arrears of statutory dues were outstanding as at 31st March, 2012 for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no statutory dues, which are outstanding on account of any dispute at the end of the year.

(x) The Company does not have accumulated losses at the end of the financial year and has not incurred cash losses in the current or in the immediately preceding financial year.

(xi) According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to any Financial Institution, Bank and the Company does not have any borrowings by way of debentures.

(xii) 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 provisions of any special statute applicable to chit funds/ nidhi/mutual benefits funds/society do not apply to the company.

(xiv) In our opinion, the Company is not a dealer or trader in Shares, Securities, Debentures and other Investments.

(xv) According to the information and explanations given to us by the management, the Company has not given any guarantee for loans taken by others from banks or Financial Institutions.

(xvi) The Company is regular in re-payment of Principal amount of term loan and interest due thereon.

(xvii) According to the information and explanations given to us and on 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.

(xviii) The Company has not made any allotment of equity Share on preferential basis to body corporate.

(xix) The Company has not issued any debentures.

(xx) The Company has not raised any money by public issues during the year.

(xxi) 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 reported during the year, nor have we been informed of such case by the management.

For SANJAY S. AGRAWAL & CO.

Chartered Accountants,

Place : Nagpur F.R NO.116200W

Dated : 25/05/2012 Sd/-

(Dhiraj M. Moryani)

Partner

M. No. 129877


Mar 31, 2010

1. We have audited the attached Balance Sheet of M/S. LINKHOUSE INDUSTRIES LIMITED., as at 31st MARCH, 2010 and its Profit & Loss Account 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.

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 (Auditors Report), order 2003 as Amended by Companies (Auditors Report) Order, 2004 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 para 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to 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 appears from the examination of such Books;

c) The Balance Sheet and the Profit and Loss Account dealt with by this report are in agreement with the Books of Accounts of the Company;

d) In our opinion the Balance Sheet and the Profit & Loss Account dealt with by this report comply with 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, 2010 and taken on record by the Board of Directors, we report that none of the Director 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;

f) In our opinion and to the best of our information and according to the explanations given to us, the said statement of Accounts 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 on 31st March, 2010 and

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

ANNEXURE TO AUDITORS REPORT (As referred to in Paragraph 1 of our report of Even Date)

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

b) The management has physically verified all its fixed assets at reasonable intervals and no material discrepancies were noticed on such physical verification.

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

(ii) a)As per the information furnished, the management at reasonable intervals during the year has physically verified the inventories.

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

c) In our opinion, the company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material and have been properly dealt with in the books of account.

(iii) In our opinion and according to the information and explanations given to us, the company has granted interest free unsecured loans to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. The terms and conditions in the said respect are not prima-faice prejudicial to the interest of the Company.

(iv) In our opinion and according to the information and explanation given to us, there are generally adequate internal control procedures commensurate with the size of the company and the nature of its business for purchase of inventory and or fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in these internal controls.

(v) a) According to the information and explanation given to us, we are of the opinion that the transactions 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, the transactions made in pursuance of contracts or arrangements entered in the Register maintained under Section 301 of the Companies Act, 1956 and exceeding the value of rupees five lacs in respect of any party during the year, have been made at prices which are reasonable, having regard to the prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) As per the information and explanation given to us, the Company has an internal audit system commensurate to the size of the Company and the nature of its business.

(viii) The Central Government has not prescribed maintenance of Cost Records under Section 209(1) (d) of the Companies Act, 1956 in respect of the Companys product.

(ix) a) According to the information and explanation given to us and the records examined by us, the company is regular in depositing undisputed statutory dues including Employees State Insurance, Income Tax, Service Tax and any other statutory dues wherever applicable with the appropriate authorities. According to the information and explanation given to us, no undisputed arrears of statutory dues were outstanding as at 31st March, 2010 for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no statutory dues, which are outstanding on account of any dispute at the end of the year.

(x) The Company does not have accumulated losses at the end of the financial year and has not incurred cash losses in the current or in the immediately preceding financial year.

(xi) According to the records of the Company examined by us and the information and explanations given to us, the company has not defaulted in repayment of dues to any Financial Institution, Bank and the Company does not have any borrowing by way of debentures.

(xii) 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 provisions of any special statute applicable to chit funds/ nidhi/ mutual benefits funds/ society do not apply to the company.

(xiv) In our opinion, the Company is not a dealer or trader in Shares, Securities, Debentures and other Investments.

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

(xvi) The Company is regular in re-payment of Principal amount of term loan and interest due thereon.

(xvii) According to the information and explanations given to us and on 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.

(xviii) The Company has not made any allotment of equity Share on preferential basis to body corporate.

(xix) The Company has not issued any debentures.

(xx) The Company has not raised any money by public issues during the year.

(xxi) 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 reported during the year, nor have we been informed of such case by the management.

PLACE: NAGPUR For M/s. Sanjay S. Agrawal & Co.,

DATE: 31/05/2010. Chartered Accountants

DHIRAJ M. MORYANI PARTNER

M. No.: 129877


Mar 31, 2009

1. We have audited the attached Balance Sheet of M/S. LINKHOUSE INDUSTRIES LTD., as at 31s1 MARCH, 2009 and its Profit and Loss Account 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.

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 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 (Auditors Report), Orders 2003 as amended by Companies (Auditors Report), Orders 2004 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 Para 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to 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 ourAudit;

b) In our opinion the proper Books of Accounts as required by law have been kept by the company so far as appears from the examination of such books;

c) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the Books of Account of the company.

d) In our opinion the Balance Sheet and Profit & LossAccountdealtwith by this report comply with 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 st March, 2009 and taken on record by the Board of Directors we report that none of the Directors is disqualified as on 31 st March, 2009 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 said statment of account 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 31 st March, 2009 and

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

ANNEXURE TO AUDITORS REPORT (As referred to in Paragraph 1 of our report of Even Date)

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

b) The management has physically verified all its fixed assets at reasonable intervals and no material discrepancies were noticed on such physical verification.

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

(ii) a) As per the information furnished, the inventories the management at reasonable intervals during the year has physically verified the inventories.

b) In our opinion and according to the information and explanation given to us, procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c) In our opinion, the company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book record were not material and have been properly dealt with in the books of account.

(iii) In our opinion and according to the information and explanations given to us, the company has granted interest free unsecured loans to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. The terms and onditions in the said respect are not prima-faice prejudicial to the interest of the Company.

(iv) In our opinion and according to the information and explanations given to us; there are generally adequate internal control procedures commensurate with the size of the company and the nature of its business for purchase of inventory and or fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in these internal controls.

(v) a) According to the information and explanation given to us, we are of the opinion that the transactions 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, the transactions made in pursuance of contracts or arrangements entered in the Register maintained under Section 301 of the Companies Act, 1956 and exceeding the value of rupees five lacs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit from the public within the meaning of Section 58Aand 58AAof the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) As per the information and explanation given to us, the Company has an internal audit system commensurate to the size of the Company and the nature of its business.

(viii) The Central Government has not prescribed maintenance of Cost Records under Section 209(1) (d) of the Companies Act, 1956 in respect of the companys product.

(ix) a) According to the information and explanation given to us and the records examined by us, the company is regular in depositing undisputed statutory dues including Employees State Insurance, Income Tax, service tax and any other statutory dues wherever applicable with the appropriate authorities. According to the information and explanation given to us, no undisputed arrears of statutory dues were outstanding as at 31st March, 2009 for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no statutory dues, which are outstanding on account of any dispute at the end of the year.

(x) The Company does not have accumulated losses at the end of the financial year and has not incurred cash losses in the current or in the immediately preceding financial year.

(xi) According to the records of the Company examined by us and the information and explanation given to us, the company has not defaulted in repayment of dues to any Financial Institution, Banks and the Company does not have any borrowings by way of debentures.

(xii) 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 provisions of any special statute applicable to chit funds/ nidhi/ mutual benefits funds/ society do not apply to the company.

(xiv) In our opinion, the Company is not a dealer or trader in Shares, Securities, Debentures and other Investments.

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

(xvi) The Company is regular in re-payment of Principal amount of term loan and interest due thereon.

(xvii) According to the information and explanations given to us and on 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.

(xviii) The Company has not made any allotment of equity Share on preferential basis to body corporate.

(xix) The company has not issued any debentures.

(xx) The Company has not raised any money by public issues during the year.

(xxi) 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 reported during the year, nor have we been informed of such case by the management.

Place: Nagpur FOR AGRAWAL & MORYANI,

Dated: 30.06.2009. CHARTERED ACCOUNTANTS

Dhiraj M. Moryani Partner


Mar 31, 2008

We have audited the attached Balance Sheet of M/S. LINKHOUSE INDUSTRIES LTD., as at 31st MARCH, 2008 and also the Profit & Loss Account 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.

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

As required by the Companies (Auditors) Report, 2003 (Amended) Order, 2004 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 Paragraphs 4 & 5 of the said order.

Furtherto our comments in the Annexure referred above, we report that:

1) 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;

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

3) The Balance Sheet and the Profit & Loss Account dealt with by this report are in agreement with the Books of Accounts;

4) In our opinion, Balance Sheet and the Profit and Loss Account dealt with by this report comply with the Accounting Standards referred to in Sub-Section (3C) of Section 211 of the Companies Act, 1956 (AS-22).

5) On the basis of written representations received from the Directors, as on 31st March, 2008 taken on record by the Board of Directors we report that none of the Directors are disqualified as on 31 st March, 2008 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 to the best of our information and according to the 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 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, 2008 and ii) In the case of the Profit and Loss Account of the Profit of the Company forthe year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

(As referred to in Paragraph 1 of our report of Event Date)

(I) a) The company has generally maintained proper records showing full particulars, including quantitative details and situation of

fixed assets.

b) The management has physically verified all its fixed assets at reasonable intervals and no material discrepancies were noticed on such physical verification.

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

(ii) a) As per the information furnished, the inventories have been physically verified by the management at reasonable intervals during

the year.

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

c) In our opinion, the company is maintaining proper records of inventory. The discrepancies noticed on physical verif i cati o n of inventory as compared to book records were not material and have been properly dealt with in the books of account.

(iii) In our opinion and according to the information and explanations given to us, the company has granted interest free unsecured loans to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. The terms and conditions in the said respect are not prima-faice prejudicial to the interest of the Company.

(iv) In our opinion and according to the information and explanations given to us, there are generally adequate internal control procedures commensurate with the size of the company and the nature of its business for purchase of inventory and fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in these 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 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 and exceeding the value of rupees five lacs in respect of any party during the year, have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposit from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) As perthe information and explanation given to us, the Company has an internal audit system commensurate to the size of the Company and the nature of its business.

(viii) The Central Government has not prescribed maintenance of Cost Records under Section 209(1 )(d) of the Companies Act, 1956 in respect of the companys product.

(ix) a) According to the information and explanations given to us and the records examined by us, the company is regular in depositing undisputed statutory dues including Employees State Insurance, Income Tax, service tax and any other statutory dues wherever - applicable with the appropriate authorities. According to the informatiun and explanations given to us, no undisputed arrears of statutory dues were outstanding as at 31 st March, 2008 for a period of more than six months from the date they became payable. b) According to the records of the Company there are no statutory dues, which are outstanding on account of any dispute at the end of the year.

(x) The Company does not have accumulated losses at the end of the financial year and has not incurred cash losses in the current or in the immediately preceding financial year.

(xi) According to the records of the Company examined by us and the information and explanations given to us, the company has not defaulted in repayment of dues to any Financial Institution and Bank and the Company does not have any borrowings by way of debentures.

(xii) 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 provisions of any special statute applicable to chit funds/ nidhi/ mutual benefits funds/ society do not apply to the company.

(xiv) In our opinion, the Company is not a dealer ortrader in Shares, Securities, Debentures and other Investments.

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

(xvi) The Company is regular in repayment of principal amount of term loan Installment and Interest due thereon.

(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 no funds raised on short-term basis have been used for long-term investment and vice versa.

(xviii) The Company has not made any allotment of equity Share on preferential basis to body corporate.

(xix) The company has not issued any debentures.

(xx) The Company has not raised any money by public issues during the year.

(xxi) 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 reported during the year, nor have we been informed of such case by the management.

FOR ANAND DESHPANDE & CO.,

CHARTERED ACCOUNTANTS

Under The Hand Of Place:

NAGPUR A. V DESHPANDE

Date: 30-06-2008. PROPRIETOR


Mar 31, 2000

We have audited the attached Balance sheet of LINKHOUSE INDUSTRIES LTD., NAGPUR as on 31st MARCH, 2000 and also the Profit & Loss Account of the Company for the year- ended 31st MARCH, 2000 annexed thereto and report that :

1. As required by the Manufacturing and Other Companies (Auditors Report) Order, 1988 issued by the Company Law Board in terms of Section 227 (4A) of the Companies Act, 1956, we enclose in the annexure , a statement on the matters specified in para- graphs 4 and 5 of the said Order :

2. Further to our comments in the annexure referred to in paragraph 1 above :

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

b) In our opinion, proper books of account as required by law have been kept by the company, so far as it appears from our examinatation of such books.

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

d) In our opinion,the Profit & Loss Account & Balance Sheet complies with the accounting standards referred to in sub-section 3(c) of Section 211 of Companies Act, 1956 as ammended.

e) In our opinion and to the best of our information and according to the explanations given to us, the accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view :

i] In case of the Balance Sheet, of the State of affairs of the Company as on 31st MARCH, 2000 and

ii] In case of the Profit & Loss Account, the profit for the year ended on 31st MARCH, 2000.

ANNEXURE TO AUDITORS REPORT ANNEXURE REFERRED TO IN PARAGRAPH 1 OF THE REPORT OF EVEN DATE OF THE AUDITORS ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2000.

In our opinion, on the information and explanations furnished to us and such checks as we considered appropriate in the normal course of audit, and to the best of our knowledge and belief, we further report that:-

1. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. All these assets have been physically verified by the management during the year and no material discrepancies have been noticed on such verification.

2. None of the fixed assets of the Company have been revalued during the year.

3. The work in progress & materials have been physically verified by the management at reasonable intervals. In our opinion the frequency of verification is reasonable.

4. The procedure of physica1 verification of stocks followed by the management are, in our opinion, reasonable and adequate in relation to the size of the company and the nature of its business.

5. No* material descrepancies have been noticed by management on physical verification of stocks as compared to book records.

6. In our opinion and on the basis of out examination, the valuation of work in progress and the stock of building material is fair & proper and is in accordance with the normally accepted accounting principles and is on the same basis as in the preceeding year.

7. The Terms and conditions of interest free loans taken by the Company from companies, firms or other parties listed in the register maintained under Section 301 and 370(1-C) of the Companies Act, 1956, are in our opinion, prima facie, not prejudicial to the internal of the Company.

8. The rates of interest and other terms and conditions of the loans given by the company to companies, firms and other parties listed in the register maintained under Section 301 and 370 (1-C) of the Companies Act, 1956 are in our opinion, prima facie, not prejudicial to the interest of the Company.

9. The parties to whom the loans or advances in the nature of loans have been given by the company are repaying the principal amounts as stipulated and are also regular in payment of interest, wherever applicable.

10. There is an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of fixed assets, building materials, plants & machinery, equipments & other assets.

11. In our opinion the transaction of purchase of materials and sale made in pursuance of contracts of arrangements entered in the parties listed in the register maintained u/s 301 of the Companies Act, 1956 and aggregating during the year Rs. 50,000/- or more in respect of each party, have been made at prices, which in our opinion are reasonable having regard to prevailing market price for such materials, land or the properties or the prices at which transactions for similar- materials have been made with other parties.

12. As explained to us, there are no unserviceable or damaged goods.

13. The company has no substiantial realisable; by-products or scraps.

14. The company has an adequate internal audit system commensurate with its size and nature of its business.

15. The Central Government has not prescribed the maintenance of cost records for the company under section 209(1) (d) of the Companies Act, 1956 for its product.

16. The Company is generally regular in depositing provident fund and employees insurance dues with the appropriate authorities.

17. As at 31st March, 1999, there were no undisputed amounts outstanding in respect of Income Tax, Wealth Tax, Custom Duty and Excise Duty for more than 6 months from the date those became payable.

18. During the course of our examination of the books of Account carried out in accordance with the generally accepted auditing practices, we have neither come across any personal expense other than those paid under contractual obligations and/or in accordance with generally accepted business practices, which has been charged to Profit and Loss Account, nor we have been informed of any such case by the Management.

19. The Company is not a Sick Industrial Company within the meaning of Clause (0) of section 3(1) of the Sick Industrial Companies (Special Provision) Act, 1985.

20. The Company has a reasonable system of recording receipts, issues and consumption of materials & stores & allocating materials consumed to the relative jobs commensurate with its size and nature of its business.

21. The Company has a reasonable system of allocating man-hours utilized to the relative jobs, commensurate with its size and nature of business.

22. There is a reasonable system of authorization at proper levels and an adequate system of internal control commensurate with the size of Company & nature of its business on issue of materials & allocation of materials & labour to jobs.

23. It is noted that in the last financial year (1998-99). Dividend although recommended by the Board was not approved by the Members of the company at its Annual General Meeting. Hence this necessary entries are made in the books of accounts.

24. Rest of the provisions of the order are not applicable.

FOR DEMBLE RAMANI & CO. CHARTERED ACC0UNTANTS

(NARAYAN DEMBLE) PARTNER

PLACE : NAGPUR DATED : 24.08.2000

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