Auditor Report of Mayukh Dealtrade Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Mayukh Dealtrade Limited, ("the Company"), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year ended, and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation 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 principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, 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 a reasonable 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.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

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 of the state of affairs of the Company as at 31st March, 2015, and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by Companies (Auditors Report) Order 2015 ('the order') issued by Central Government of India in terms of subsection (11) of section 143 of the Act, we enclose in the annexure a statement on the matters specified in paragraphs 3 & 4 of the said order to the extent applicable.

2. As required by section 143(3) of the Act, we report that:

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

c) The Balance Sheet, Statement of Profit and Loss and statement of Cash Flow dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e) On the basis of the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the Act.

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

I. The Company does not have any pending litigations which would impact its financial position.

II. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

III. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

Annexure to Auditors' Report

The Annexure referred to in our report to the members of Mayukh Dealtrade Limited (the Company') for the year ended on 2015. We report that:

(i) In respect of its fixed assets:

Based on our scrutiny of the Company's Book of Account and other records and according to the information and explanations received by us from the management, we are of the opinion that the question of commenting on maintenance of proper records of fixed assets, physical Verification of fixed assets and any substantial sale thereof does not arise since the company had no fixed assets as on 31st March, 2015 nor at any time during the Financial Period ended 31st March, 2015.

(ii) In respect of its inventories:

Physical verification of inventory has been conducted by the management at reasonable intervals as required under clause 3(ii).

(iii) The Company has not granted loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013 and we are of the opinion that the term and condition of such loans are not prejudicial to the interests of the company, also reason able steps have been taken for the recovery/repayment of overdue of such loans.

(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the Company and nature of its business. During the course of our Audit, no major material weakness has been noticed in internal controls.

(v) In our opinion and according to information and explanations given to us, the Company has not accepted any deposits from the public and hence clause 4(v) of the said order is not applicable.

(vi) According to the information and explanations provided by the management, the Company is not engaged in production, processing, manufacturing or mining activities. Hence, the provisions of Section 148(1) of Company Act, 2013 do not apply to the Company. Hence, clause 4(vi) of the said order is not applicable.

(vii) According to the information and explanations given to us and on the basis of our examination of the records of the company, amount deducted/accrued in the books of account in respect of undisputed statutory dues including provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues have been regularly deposited during the year by the company with the appropriate authorities. As explained to us, the company did not have any dues on account of employee's state insurance and duty of excise.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues were in arrears as at 31st March,2015 for a period of more than six months from the date they became payable.

(viii) The Company does not have accumulated losses of more than 50% of its net worth. The Company has not incurred any cash losses during the financial year covered under audit.

(ix) The Company did not have any outstanding dues to Financial Institutions, Banks or Debenture holders during the year.

(x) In our opinion and according to the information and the explanations given to us, the Company has not given any guarantee for Loans taken by other banks or financial institutions, hence clause (x) of Para 4 of the Order is not applicable.

(xi) According to the records of the Company, the Company has not obtained any term loans. Hence comments under the clause are not called for.

(xii) Based on the audit procedures performed and informations and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

For A. Saraogi & Associates Chartered Accountants FRN: - 322993E

Place: Kolkata Date: 29th May 2015

Sd/-

Anneel Saraogi Partner Memership no.-057545

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Mar 31, 2014

We have audited the accompanying financial statements of Mayukh Commercial Limited, which comprise the Balance Sheet as at March 31, 2014 and the Statement of Profit and Loss 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 and financial performance 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; and

b) in the case of the Profit and Loss Account, of the profit for the year ended on March 31, 2014;

Report on Other Legal and Regulatory Requirements

1. As required by Companies (Auditors Report) Order 2003 issued by Central Government of India in terms of section 227 (4A) of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 & 5 of the said order to extent applicable.

1. 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

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

d) In our opinion, the Balance Sheet and Statement of Profit and Loss 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 Auditors Report

i) The company is not having fixed assets and therefore provision of clause 4(i) is not applicable to company.

ii) The company is not having inventory and therefore provision of clause 4(ii) is not applicable to company.

iii) The company has not granted or taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 301 of the Act and therefore provision of clause 4(ii) is not applicable to company.

iv) The company is not having fixed assets and inventories therefore provision of clause 4{iv) is not applicable to company.

v) In our opinion and according to information & explanations given to us, there are no such transactions that need to be entered into a register in pursuance of section 301 of the Act.

vi) In our opinion and according to information & explanation given to us the company has not accepted deposits from the public.

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

viii) According to information & explanation given to us, the company is not required to maintain cost records as prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Act.

ix) (a) According to information & explanation given to us the company is generally regular in depositing undisputed statutory dues including Income tax, and any other material statutory dues with the appropriate authorities.

(b) According to information & explanation given to us the company has no disputed dues of sales tax/income tax/custom iax/wealth tax/excise duty/cess.

x) The company does not have accumulated losses more than 50% of its networth. The company has not incurred cash losses during the financial year covered by audit.

xi) In our opinion and according to information & explanation given to us the company has no dues to financial institution or bank.

xii) According to information & explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares debenture and other documents.

xiii) According to information & explanation given to us, the provisions of nidhi / mutual benefit fund/societies is not applicable to company.

xiv) According to information & explanation given to us, the company is dealing or trading in shares, securities, debentures and other investments. The investments made by the company have been held by the company, in its own name.

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

xvi) According to information & explanation given to us, no term loans were obtained during the year.

xvii) According to information & explanation given to us and on overall examination of balance sheet no funds raised on short-term basis have been used for long-term investment.

xviii) According to information & explanation given to us the company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act.

xix) According to information & explanation given to us no debentures issued during the year.

xx) According to information & explanation given to us no public issues have been made during the year.

xxi) According to information & explanation given to us no fraud on or by the company has been noticed or reported during the year.

For A, Saraogi & Associates Firm Registration Number: - 322993E Chartered Accountants Place: Kolkata Date: 20th May 2014 Anneel Saraogi Partner Membership no.-057545

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Mar 31, 2013

We have audited the accompanying financial statments of Mayukh commercial Limited, which companies the blance Sheet as at March 31 2013 and the statement of profit and Loss 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 me financial position and financial performance of the company in accoruarce 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 relevanta to the preparation and presentation of the financial statements that give a true and fair view and are fee from material misstatement whether dure to fraud or error

Auditor's Responsibility

Our responsibility is lo express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Stardards on Auditing issued by the institute of chartered Accounting 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 precedures to obtain audit evidence about the amouts and disclosures in the financial statements The procedures selected depend on the auditors segment including the assessment of the risks of materia misstatement of the financial statements whether due to fraud or error in making those risk assesments the auditor consider internal control -relevent to the company preparation and no fair presentation of the financial a statemens in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting polices used and the reasonableness of the accounting estimates made by management as we as evauating the overall presentation of the financial statements

we believe that the audit evidence we have obtained s sufficient and appropriate lo provide a basis or our audit opinon

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statemens give the information required by the Act in the manner SO required and give e true and fair view n conformity with In the accounting principles generally accepted in India

a) in the case of line Balance Sheet, of the state of affairs of the Company as at March 31 2013; and

b) In the case of the profit and loss Account of the loss for the year ended on March 31 2013

Report on Other Legal and Regulatory Requirements

As require by Companies (Auditors Report) Order 2003 issued by Centre Government of India in terms of section 227 (4A) OF the companies Act 1956, we enclose in the annexeure a Statement on the matters specified in paragraphs 4 & 5 of the said order to extent applicable.

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 on of those books.

c) The Balance sheet and Statement of profit and Less dealt with by this Reped are in agreement with the books of account.

d) In our opinion, the Balance Sheet and statement of Protit and Loss comply with the Accounting Standards referred to in subsection (3C) or section 211 of the Companies Act955.

e) On the basis of written representations received from the directors as an March 31 2013.end taken on record by the Board or Directors more of the directed is disquaified as on March 31 2013 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 auditors report

i) The company is not raving fixed assets and therefore provision of clause 4(i) is not applicable to company.

ii) The company is not having inventory and therefore provision of clause 4(ii) is not applicable to company

iii) The company has not granted or taken any loans. secured or unsecured to from companies frims or other panics covered in the register maintained under section 301 of the Act and therefore provision of clause 4(ii) is not applicable to company

iv) The company is not having fixed assets amd inventories therefore provision of clause 4(iv) is not applicable to company

v) In our opinion and according to information & explanations given to us, there are no such3 transactions that reed to be entered into a register in pursuance of section 301 of the Act,

vi) In cur opinion and according lo information & explanation given to us Ire company has rot accepted deposits from the public.

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

viii) According to information & explanation given to us the company is not required to maintain cost uncords as prescribed by tha Central Government under clause (d) of sub-section(1) of sector 209 of the Act

ix) (a) According to information & explanation givan to us the company is generally regular depositing undisputed statutory dues including income tax, and any other material statutory dues with the appropriate authorities.

(b) According to information & explanation given to us the company has no disputed dues of sales tax/income tax/custom tax/wealth tax/-excise duty-cess

x) The company does not have accumulated losses more than 50% of its networth. The company has incurred cash losses during the financial year covered by audit.

xi) ln our opinion and according to information 4 explanation given lo us the company has no dues to financial institution or bank.

xii) According to information & explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares debenture and other documents

xiii) According to information & explanation given to us the provisions of nidhi / mutual benefit fund/ societies is not applicable to company

xiv) According to information & explanation an given to as the company is dealing or trading shares securities, debantures lures and ether investments The investments made by the company have been held by the company in its own name

xv) According to information & explanation given lo us the company has not given any guarantee for loans taken by others from bank of financial institutions

xvi) According to information & explanation given to us no term loans were obtained during the year.

xvii) According to infor,mation & explanation given to us and on overall examination of balance sheet no funds raised on shortterm basis have been used for long term investment.

xviii) Accoriding to information & explanation given to us the company has not mace any preferential allotment of shares to parties and companies covered in the Register maintaines under section 301 of the Act.

xix) According to information & explanation given to us no debentures issued during the year.

xx) According to information & explanation given to us no public issues have been made during the year.

xxi) Accrding to information & explanation on given to us no fraud an or by the company has been or reported during the year.

For A. Saraogi & Associates Firm Registration Number 322993E Chartered Accountants

Place: Kolkata

Cate: 30th May 2013

Anneel Saraogi Partner Membership no 057545

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Mar 31, 2012

1 We have audited the attached Balance Sheet of MAYUKH COMMERCIAL LIMITED as at 31.03:2012 signed by us under reference to this. report and tie relative Protit & Less Account 0! the Company tor he year ended 31/03/2012 which IS in agreement with the books of accounts Tinese Financial statements are the responsibility of the Company's management Our responsibility is to express an opinoin on these Financial statments based on out audit

2 We conducted our audit .n accordant: a with auditing standards generally accepted in India Those standares repuire thatwc plan one uc.-f.nrm the audil and oPIair roSEOrab e assurance abaci whether he Financial Statements nr... free et materia: misstatement An aud | incudes examining on n test basis, ev.dence supporting r.t:o amounts and d.se oau-es in the Financial Statement. An auciL alsa in; uces J33uss ng the accounting principles l.soc ord significant isL mates rniide by murtegament, as we ac uvaluol ng the overa.l financial staicmenl presentation 'We oei-.evu Irat cur = ucit provides re05bnab!e basis 'm our opinion

3. We report as follows

a We hava Obta ne;| si the mlcrmalion and exp.anuticns wheh ic the bust of am knowledge and belief, wc'a race saury for Ins purpose of our Audit;

b. In our cpinion proper Hooks of Accounts as required by Law hnva- been hcp-1 by the Company, so for us appears from our examination Cf the Bcoks:

c The Balance Snoot a no Profit i Less Account dealt vvtr py tha Report ara n agree-or I w L". ire Eoc'rs of Ar.pounls

d. n ouropiivur mu ^rof;l and Less Account a no Faience Sheet compy -.v |h the Accounting standards refmrcd to r Su-cl or V- ! ;C) of he Cn.rpanies Acl li'Sc.lo line extent applicable,

e. In our opinion none of the Directors are c uqualined from being appointed as Direcidr as se- clause (£) of sub-sccticn (11 of Section 274 cf the Companies Ad, 19b$;

4. In our coinicn anc to ihe pest cf am information and according to the cjtplana'.ons given 1o us. the Balance Sheet and 1be F'ciit £ Less Account rcac together will Metes thereon as required by the Companies Act, 1956 n the manner so required, give a true and fair view:

i) In the case of the Balance Sheet cf the State of affairs of the company as at 31/03/2012 and

ii) in the case of profit & loss Acccunt of the loss for the year ended 31/03/20122

5. As required by Companies (Auditors Report) Order 2003 issued by Centra Severnment of India in terms of section 227 (4A) of the Compan.es Act, 1955, we enclose in the annexure a statement or the matters specified d in paragraphs 4 & 5 of the said order to extent aoplicaole

Annexure to Auditors report:

i) The company is not having fixed assets ana therefore provision of cause 4(i) is net applicable to company

ii) The company is not having Inventory and therefore provision of cluse 4 (ii) is not applicable to company.

iii) The company has not granted or taken any loans secured or unsecured to from companies. firms or other partiesic0 covered in the register maintained under secure 301 of the Act 2nd therefore provision on ci clause 4(ii) is not a policeable to company

iv) The company is not having ng fixed assets and inveolories therefore provision of clause 4(iv) is not applicable to company

v) In our opinion and accord no to information & explanations given to us. there are no such transaction thal need to Pa entered into a register in pursuance of section 301 of tne ACt

vi In Our opion and according to informal on & explanation or given to us the company has not accepted deposits from the public.

vii) In our opinion me company nas an adequate internal audit system commensurate with its size and nature of its business

viii) According to information & exp anation given tok us, the company is not -required to -maintain cost records as prescribed by the Central Government under cause (d) of sub-section ( 1) a- section 205 of me Act

ix)(a) According lo inform alien & exol.snation given lo us the company is generally regular indeposing undisputed statutory cues including Income tax, ana any other material statutory dues With the op are or ate authorities

(b) According to information & explanation given to us the company has no disputed dues Of sales taxvinceme tix1':ustom tax wealth tax excise duty/cess.

x) The company dues not have accumulated losses more than 50% ci its networth. The company has incurred cash losses during the financial yeer covered by audit.

x) In our opinion one according to information & explanation given 10 us the company has no due s to financial institution or bank.

xii) Accord no lo information & explanation given la us, the company has -net granted loans *ud advances on fr.e he si a of Eecurily by way of pledge of snares debenture ?.nc -:iti- de* umcnto.

xiii) According lo nfermptic-n i. explanation g vun lo js. tit* p-evisors cl nidh V mul.jo honor: u..nd,'societies isnot appl pah'e Lo compary

x) According tc .nformation & explanation given 1 us, the company is dealing or trading r Sha-us, securities, debentures and other invesLme,-Is The investments made p>- me company have been field by the company, n its own name.

xi) According tc inFomiallon i. exp anahon given 1o US, the company has not given any guarantee for loans taien by 0mers Tcm paoit or financial insllfuLdns.

xii) According tc irrior-alien A exp an alien given tc js, no 1erni loans were ohta ned during the year

xvii) According tc informal on & explanation given to us and or overall examination of balance sheet no funds raised on shortterm basis have been used for long-term nvestmentCnt

xviii) According to information &. explanation give- to us the company hus not made any preferential allotment of shars to parties and companies covered in the register maintained under section 301 of the Act

xix) According to information 5. explanation given to us no debentures issued during the year

xx) According to information & explanation given to us no pubic issues have been made during the year

Xxi) According tc Informaticn & explanation given to us no fraud on or by the company has been noticed cr reported curing the year

For A. saragogi & Associates Firm Registration Number: - 32Z993E Charteres Accountants Place. Kolkata Date: 30th May 2012 Anneel Saragol Partner Membership no.-U57543

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Mar 31, 2011

1 We have audited the attached Balance Sheer of MAYUKH COMMERCIAL LIMITED ns et 31/03/2011 Signed by ns under reference lo Ibis rep-on and the rclalfve Profit & Less Account of the Company for the ye hr ended 31/03/2011 which is in ag reenie the with Lne bocks of account. These Financial Statements ere he responsibility of the Company's management. Our responsibility is 10 express 30 opinion cr, these Financial Statements based or our audit

2 We conducted our audit n accordance with auditing standards generally accepted In ncio. Those standards rccuire that we p an anti perform the audit and ootain reasonable assurance about Whether the Financial 5 Lai aments ore free of material mis statement An audit induces examining, on a least basis, evidence supporting the amounts and disclosures jr. the Fin anc hi Statement. An audit also includes hSSuusing the account ny price oles used and sigili'icant estlmales made by management, as well as evaluating he overall finansial statement presentation. We believe Inal our audit provides leasortatle basis for cur c-oiricn

3. Wb report as follows:

a We have ave obtained al re nformatlcn and explanations which to the best tr.cwlecgo and belief wur0 nesessary for the purposc of cur A juit,

B. Ir. cjr coimen oroper Books of Accounts os required oy Law have been Kept by the Company, so far as appears from ou' exarn nation cf the Books;

c. "ne Balance Sheet and Profit Less Acccanl debit with by fhe Repaid are n ay moment with the Books of Accounts;

D. In cur opinion rhe Fm'il end Loss Account and Balance Sheet Comply with he Accounting standards refer-ou to in Section 5V .;3C;i of -the Companies Act 1956 the extent applicant.

e. in our opinion none of the Directors aro disqualified from being appointed as director as per clause (c) or" sub-section (1) or Section 27-t of rhe Companies Act, 195b;

4. In Our opinion end to Lnc oust of our informal or and according 10 ine uxplanel nns given to us rhe Balance Sheet and he Profit A I css Account rend together with Metes LnGrecn as recuirofi by the Companies Art 1955 n Lnc manner so require. give a true and far View

i) in the case of the Balance Sheel of the Stale of affairs of the company as at 31/03/2011 and

ii) in the ease cf Front & Loss Account, of the less for me vear ended 31/03/2011.

As required by Companies (Auditors Report) order 2003 issued by Central Government of India n isr.ms of section 227 (-:A) or the Cornpan es Act, 1953 we enclose in the annex are a alsturnam matrers parageap f or tfe said ore or to exte.nl applicable

Annexure to Auditors Report

l) The compary is not having fixed assets and there provision of clause 4(1) i= not uop'icaole it company

i) The comDtny is nd having inventory and therefore prov-S or of tiavse is not applicable to company.

iij The company has not grantee or t any loons, secured or unsocured " companies, rims cr other parties covered n toe register maintained unde- E-achd 301 of me Ad and 1'nereforc provision ut clause is not up-insole to company

V- The company is. not having fxed assets and Inventories therefore prevision of clause 4 (iv) 1 applica ole tc company

vI In Otr op nion onu according to Information ft explanations given tc us, there arc no such transactions that need lo Oc entered into a register n pursuance a: section 301 cf the Act

viI our opinion and according to information & explanation given to us the company has not accuotec depcs la fro" the pc bio

viii In our cpinici the company has an adequate interim audit system commensurate with its nature of its business

xi According'tc information 5 explanation given fo us me company is not required ta mainta n cost iCccrds as pro scribed hy the Central Government unpur clause (D) of sub-section . Of sort 209

x) (a) ! According to information & ft explanation given tc us me company is generally regular n deposing ' statutory cues including Income tax and any clher mnleiiu; statutory dues with the appropriate autherised

xi Acccrd ng te information ft explanation given tc us lino company has no disputed duos uf sales taxi'inooma tn tfee sLom 1 SKAvea Ih tawaxcise duty/cess,

xii The company coca int have accumulated losses mere than 5056 of Its netvvorh Thecompany has ncu'rcd caslt losses during tne financial year severed by audit

xiii our opinion on ana according lo informal on ft expiunatien giver, to us the company has nn duos lo fnancial institution or bank

xiv According to information ft oxelanat on given lo us, the company has riot grantee leans and advances on the cue s of security by way o1 pledge cf shares debenture and ether cucu merits.

x ii) According lo ir forma bun ft exple nation given to us. Lie provisions of not applicable tc company

xiv) According lo Information ft expianal.ar given to us the company is ceding C' tracing in shares securities, debentures and clher invertmenls. The investments made by "yhe company have omen helc by the com oar y, in is own name.

xv) According to information ft explanation given tc us, the company has not giver any gurantee for loans taken by others from than or nstitufion;

xvi; Accounting Lo information or ft explanat on given to us, rro term loans were obtained during the year

xvii) According to information fi explanation given to us and or: overal examination cf balance sheet rn funds raised on short-term oasis have been used for long-term investrr.enl

xviii) According to information a explanation given lo us the company has not made any. preferential allotment or shares to paries and companies covered in me Register maintained under secton 201 of the Act

xix) Accordng to information & ewxplanation given to us no debentures issued during the yeui

XXI According to information & eexplanatoin given to US no public issues have been mede during. the year

xx) According lo info unction &. explsnal an giver to us no given on or by ine company has Dear noticec oi leporteo during he year

For A. Saraup & Associates Firm Registeration Number: 322593E Chatered account

place: kolkata Date: 30th may 2011

Auticel Saraafti Partner membership no 057454