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Auditor Report of Naturite Agro Products Ltd.

Mar 31, 2015

Report on the Financial Statements

We have audited the accompanying financial statements of NATURITE AGRO PRODUCTS LIMITED ("the Company"), which comprises the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss and Cash Flow statement for the year ended and summary of significant accounting policies and other explanatory information.

Management Responsibility for the 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 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 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 the maintenance of adequate records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the 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 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 an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the Accounting and Auditing standards and matters which are required to be included in audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing Specified under sec 143(10) of the Act. 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 financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the company has in place an adequate internal financial control over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company's Directors, 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 on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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 the date.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies(Auditor's Report) Order, 2015 (the Order) issued by the Central Government of India in terms of sub-section(11) of section 143 of the Act, we give in the annexure a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

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

a. We have sought and 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, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the books of account;

d. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement 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 written representations received from the directors as on 31st March 2015 and 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 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 does not have any long term contracts including derivatives contracts for which there were any material foreseeable losses.

iii. There were no amounts which required to be transferred to the Investor Education and protection fund by the company

The Annexure referred to in our Independent Auditor's Report to the members of the Company on the financial statements for the year ended March 31, 2015, we report that:

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

(b) The Fixed assets have been physically verified by the management during the year in accordance with a phased program of verification and no material discrepancies have been noticed on such verification.

ii) (a) As explained to us, inventories have been physically verified by the Management at regular intervals during the year.

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

(c) In our opinion, the company has maintained proper records of inventories and as explained to us there was no material discrepancy noticed on physical verification.

iii) In our opinion and according to the information and explanations given to us, the company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 189 of the Companies Act, 2013. Therefore, requirements of clauses (a), (b), of paragraph 3(iii) of the order are not applicable.

iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business, with regard to purchase of fixed assets and the sale of services. During the course of the audit we have not observed any major weaknesses in the internal control system.

v) In our opinion and according to the explanations given to us, the company has not accepted any deposits from Public.

vi) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Companies Act 2013.

vii) a) According to the records of the company and explanations given to us and on the basis of our examination of the records of the company, undisputed statutory dues including provident fund, Income - tax, Value Added Tax, and other material statutory dues applicable to it have been regularly deposited with the appropriate authorities. Further, as explained to us, no undisputed statutory dues were in arrears as at 31st March 2015 for a period of more than 6 months from the date they become payable.

(b) According to the information and explanation given to us, there are no dues of income-tax, sales-tax and cess which have not been deposited on account of any dispute.

(c) According to the information and explanation given to us there were no amount transferred to investor education and protection fund.

viii) The company has accumulated losses as at the end of the financial year and it accumulated losses are not less than fifty percent of its net worth and the company has not incurred cash losses during the current financial year covered by our audit and in the immediately preceding financial year.

ix) Based on our audit procedures and on the information and explanation given to us, we are of the opinion the company has not taken any loans from bank or financial institutions. Accordingly clause 3(ix) of the order is not applicable to the company.

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

xi) According to the information and explanations given to us, no term loans were raised during the year.

xii) Based on the audit procedures performed and information and explanations given to us 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 Ramasamy Koteswara Rao & Co,

Chartered Accountants

(Firm Reg No:010396S)

Sd/-

(C.V.Koteswara Rao)

Date : 30.05.2014 Proprietor

Place : Hyderabad M. No. 028353


Mar 31, 2014

Report on the Financial Statements

We have audited the accompanying financial statements of NATURITE AGRO PRODUCTS LTD ("the Company"), which comprises the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash Flow statement for the year ended, and summary of significant accounting policies and other explanatory information.

Management 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 of the Company in accordance with Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal controls 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 Balance Sheet, of the state affairs of the Company as at March 31, 2014

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

(c) In the case of Cash Flow statement, the cash flows for the year ended on that date

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") 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

c. The Balance Sheet, 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, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting standards referred to in sub-section (3c) of section 211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013.

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

f. Since the central Government has not issued any notification as to the rate at which cess is to be paid under section 441A of companies act , 1956 nor has it issued any Rules under the said section, Prescribing the manner in which such cess is to be paid, no cess is due and payable by the company

Annexure to the Auditors'' Report (referred to in paragraph 1 of our Report of even date to the Members of "NATURITE AGRO PRODUCTS LTD" for the year ended March 31, 2014)

On the basis of such checks as we considered appropriate and according to the information and explanation given to us during the course of our audit, we report that,

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

(b) The fixed assets of the company have been physically verified by the Management during the year and no material discrepancies have been noticed on such verification. In our opinion, the periodicity of physical verification is reasonable having regard to the size of the company and the nature of its assets.

(c) In our opinion, and according to the information and explanation given to us, the company has not disposed off any fixed asset during the year.

(ii) (a) As explained to us, inventories have been physically verified by the Management at regular intervals during the year.

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

(c) In our opinion, the company has maintained proper records of inventories and as explained to us there was no material discrepancies were noticed on physical verification.

(iii) (a) In our opinion and according to the information and explanations given to us, the company didn''t grant any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore, requirements of clauses (b), (c), (d), of paragraph 4(iii) of the order are not applicable.

(e) According to the information and explanations given to us, during the current year the company has not taken loan from parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore, requirements of clauses (f), (g) of paragraph 4(iii) of the order are not applicable.

(iv) On the basis of checks carried out during the course of the audit and as per the explanations given to us, we are of the opinion that there are adequate internal control systems commensurate with the size of the company and the nature of its business, with regard to payment of expenses. During the course of audit no major weaknesses in the internal controls are noticed.

(v) According to the information and explanations given to us, the particulars of contracts or arrangements during the year that need to be entered into a register in pursuance of section 301 of the Companies Act. 1956 have been so entered.

(vi) In our opinion and according to the explanations given to us, the company has not accepted any deposits within the meaning of Sections 58A and 58AA of the Companies Act and Companies (Acceptance of Deposits) Rules, 1975.

(vii) As per information and explanations given by the management, the company has an internal audit system commensurate with its size and nature of its business.

(viii) According to the information and explanations given to us, maintenance of cost records has not been prescribed by the central government under the clause (d) of sub-section (1) to Section 209 of the Act.

(ix) (a) According to the information and explanation given to us, the company is regular in depositing undisputed statutory dues including income-tax, cess and other statutory dues with the appropriate authorities. According to the information and explanation given to us, there were no arrears of undisputed statutory dues as at 31st March 2014, which were outstanding for a period of more than six months from the date they become payable.

(b) According to the information and explanation given to us, there are no dues of income-tax, wealth- tax, sales-tax and cess which have not been deposited on account of any dispute.

(x) The company has accumulated losses as at the end of the financial year and it accumulated losses are not less than fifty percent of its net worth and the company has not incurred any cash losses during the current financial year covered by our audit and in the immediately preceding financial year.

(xi) According to the records of the company and as per the explanations given to us the company has not taken any loans from a financial institution or bank and the company was not raised any debentures during the year. Accordingly, clause 4 (xi) of the order is not applicable.

(xii) According to the information and explanations given to us, the company has not granted any loans and advances on the basis of security by way pledge of shares, debentures and other securities.

(xiii) The company is not a chit fund or nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4 (xiii) of the said Order are not applicable to the company.

(xiv) According to the information given to us, the company is not dealing in or trading in shares, securities, debentures and other instruments, accordingly the provisions of clause 4 (xiv) of the order is not applicable.

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

(xvi) According to the information and explanations given to us, no term loans were raised during the year.

(xvii) According to the information and explanation given to us, and on an overall examination of the balance sheet, we report that the company was not raised any funds on short term basis during the year.

(xviii) The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act during the year.

(xix) The company has not issued any debentures during the year. Accordingly, question of creating securities or charge does not arise.

(xx) The company has not raised any money by public issue during the year.

(xxi) Based on the audit procedures performed and information and explanations given to us 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 Ramasamy Koteswara Rao & Co, Chartered Accountants (Firm Reg No: 010396S)

Sd/- (C.V.Koteswara Rao) Date : 30.05.2014 Proprietor Place : Hyderabad M. No. 028353


Mar 31, 2013

1. We have audited the attached Balance Sheet of M/s NATURITE AGRO PRODUCTS LIMITED as at 31st March 2013, the 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 auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether financial statements are free from material misstatements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement position. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003, as amended by the companies (Auditor''s Report)(Amended) order, 2004 issued by Central Government of India in terms of Section 227 (4-A) of the Companies Act, 1956 of India (the Act) and on the basis of such checks of the books and records of the company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure of the statement on the matters specifes in the paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that:

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

II. In our opinion, proper books of accounts as referred by law have been kept by the Company so far as it appears from examinations of such books.

III. the Balance Sheet and Profit and Loss account referred to in the report are in agreement with the books of accounts.

IV. in our opinion, the Balance Sheet and Profit and Loss account comply with the Accounting Standards referred in Sub-Section (3C) of Section 211 of the Companies Act, 1956.

V. On the basis of written representation received from the directors as on 31st March 2013 and taken on record by the board of directors, none of the directors are disqualified as on 31st March, 2013 from being appointed as director in terms of clause (g) of sub section (1) of section 274 of the Act

VI. 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 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 the company as at 31st March 2013

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

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

b) In our opinion. The fixed assets of the company have been physically verifed by the management according to a phased programme designed to cover all the items, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets.persuant to the programme, a portion of the fixed asset of the company has been physically verifed by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed.

c) In our opinion, and according to the information and explanations given to us, the substantial part of fixed assets has not been disposed off by the company during the year.

ii.

a) The Inventories of the company has been physically verifed by the management during the year according to the phased programme normally so designed that each material item is physically verifed at least once in a year and at more frequent intervals in appropriate cases. in. In our opinion, the frequency of verifcation is reasonable.

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

c) On the basis of our examinination of records of inventory in our opinion the Company has maintained proper records of inventory and the discrepancies noticed on physical verifcation between the physical stock and the book records were not material in relation to the operation of the company.

iii.

a) The company has not granted any loans, secured or unsecured, to the companies, firm or other parties listed in the register maintained under section 301 of the Companies Act, 1956. As The Company has not granted any loans, secured or unsecured to parties listed in the register maintained under section 301 of the companies Act, 1956 paragraphs iii (b) (c) and (d) of the order, are not applicable.

b) The company has not taken any loans, secured or unsecured, from companies, firm or other parties listed in the Register maintained under section 301 of the Companies Act, 1956. As The Company has not taken any loans, secured or unsecured, to parties listed in the Register maintained under section 301 of the companies Act, 1956 paragraphs (iii)(f) and (g) of the order, are not applicable.

iv. In our opinion and the according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods and service. Further, on the basis of our examination and according to the information and explanation given to us. We neither come across nor have been informed of any instance of major weakness in the aforesaid internal control system.

v.

a) In our opinion and according to the information and explanation given to us, there are no contracts or arrangements that need to be entered into the register maintained under section 301 of the companies Act, 1956

b) In our opinion and according to the information and explanations given to us, there are no contracts or arrangements that need to be entered in the register maintained under section 301 of the companies Act,1956, paragraph (v)(b) of the order is not applicable.

Vi. in our opinion and according to the information and explanations given to us the company has not accepted any deposits from the Public.

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

VIII. To the best of our knowledge the Central Government has not prescribed the maintenance of cost record under section 209 (1)(d) of the Companies Act, 1956, for any of the products of the company.

IX.

a) According to the information and explanation given to us and according to the books and records as produced and examined by us, in our opinion, The Company is regular in depositing undisputed statutory dues including provident fund, employee''s state insurance, Income Tax, Wealth Tax, Sales Tax, Customs Duty, cess and other material statutory dues applicable with appropriate authorities.

b) As on 31st March,2013, according to the records of the company and the information and explanation given to us, there are no disputed dues on accounts of income-tax, sales-tax, wealth tax, service tax, custom duty, excise duty and cess matters etc.,

X. The company does not have accumulated losses as at 31st March, 2013 has not incurred cash losses during the financial year ended on that date or in the immediately preceding financial year.

XI. According to the information and explanation given to us, the company has not defaulted in repayment of dues of any financial institution, bank or to debenture and other securities.

XII. According to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

XIII. The provisions of any special statute as specified under paragraph (Xii) of the order are not applicable to the company.

XIV. In our opinion and according to the information and explanation given to us, the company is not dealer or trader in securities, debentures and other investments.

XV. According to the information and explanation given to us, the company has not given any guarantees for loans taken by other from banks or financial institutions.

XVI. According to the information and explanation given to us The Company obtained has not any term loans other than vehicles loans cash credits etc.

XVII. Based on the information and explanation given to us and on overall examination of balance sheet of the company, in our opinion, there are no funds raised on short term basis which have been used for long term investment.

XVIII. The company has not made any preferential allotment of shares to the parties and companies covered in the Register maintained under section 301 of the companies Act, 1956 during the year

XIX. As the company has not issued any debentures, paragraph (xix) of the order is not applicable to the company.

XX. The Company has not raised any money by Public Issue 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.

XXII. The other clauses (xi) and (xix) of the paragraph 4 of the Companies (Auditors Report) Order, 2003, as amended by the companies (Auditor''s report) order 2004, are not applicable in the case of the company for the current year, since in our opinion there is no matter which arises to be reported in the aforesaid order.

for VVS & ASSOCIATES Chartered Accountants (Firm Reg No: 008194S)

Sd/- (CA V V SUBRAMANYAM) Date : 23.08.2013. Proprietor Place : Hyderabad M. No. 023264


Mar 31, 2012

1. We have audited the attached Balance Sheet of M/s NATURITE AGRO PRODUCTS LIMITED as at 31st March 2012, the 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 auditing standards generally accepted in India. These Standards require that we plan and perform the audit to obtain reasonable assurance about whether financial statements are free from material misstatements. An audit also includes assessing the accounting principles used and signifcant estimates made by the management, as well as evaluating the overall financial statement position. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003, as amended by the companies (Auditor''s Report)(Amended) order, 2004 issued by Central Government of India in terms of Section 227 (4-A) of the Companies Act, 1956 of India (the Act) and on the basis of such checks of the books and records of the company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure of the statement on the matters specifes in the paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that:

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

II. In our opinion, proper books of accounts as referred by law have been kept by the Company so far as it appears from examinations of such books.

III. the Balance Sheet and Profit and Loss account referred to in the report are in agreement with the books of accounts.

IV. in our opinion, the Balance Sheet and Profit and Loss account comply with the Accounting Standards referred in Sub-Section (3C) of Section 211 of the Companies Act, 1956.

V. On the basis of written representation received from the directors as on 31st March 2012 and taken on record by the board of directors, none of the directors are disqualified as on 31st March, 2012 from being appointed as director in terms of clause (g) of sub section (1) of section 274 of the Act

VI. 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 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 the company as at 31st March 2012

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

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

b) In our opinion. The fixed assets of the company have been physically verifed by the management according to a phased programme designed to cover all the items, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets.persuant to the programme, a portion of the fixed asset of the company has been physically verifed by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed.

c) In our opinion, and according to the information and explanations given to us, the substantial part of fixed assets has not been disposed off by the company during the year.

ii.

a) The Inventories of the company has been physically verifed by the management during the year according to the phased programme normally so designed that each material item is physically verifed at least once in a year and at more frequent intervals in appropriate cases. in. In our opinion, the frequency of verifcation is reasonable.

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

c) On the basis of our examinination of records of inventory in our opinion the Company has maintained proper records of inventory and the discrepancies noticed on physical verifcation between the physical stock and the book records were not material in relation to the operation of the company.

iii.

a) The company has not granted any loans, secured or unsecured, to the companies, frm or other parties listed in the register maintained under section 301 of the Companies Act, 1956. As The Company has not granted any loans, secured or unsecured to parties listed in the register maintained under section 301 of the companies Act, 1956 paragraphs iii (b) (c) and (d) of the order, are not applicable.

b) The company has not taken any loans, secured or unsecured, from companies, frm or other parties listed in the Register maintained under section 301 of the Companies Act, 1956. As The Company has not taken any loans, secured or unsecured, to parties listed in the Register maintained under section 301 of the companies Act, 1956 paragraphs (iii)(f) and (g) of the order, are not applicable.

iv. In our opinion and the according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods and service. Further, on the basis of our examination and according to the information and explanation given to us. We neither come across nor have been informed of any instance of major weakness in the aforesaid internal control system.

v.

a) In our opinion and according to the information and explanation given to us, there are no contracts or arrangements that need to be entered into the register maintained under section 301 of the companies Act, 1956

b) In our opinion and according to the information and explanations given to us, there are no contracts or arrangements that need to be entered in the register maintained under section 301 of the companies Act,1956, paragraph (v)(b) of the order is not applicable.

Vi. in our opinion and according to the information and explanations given to us the company has not accepted any deposits from the Public.

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

VIII. To the best of our knowledge the Central Government has not prescribed the maintenance of cost record under section 209 (1)(d) of the Companies Act, 1956, for any of the products of the company.

IX.

a) According to the information and explanation given to us and according to the books and records as produced and examined by us, in our opinion, The Company is regular in depositing undisputed statutory dues including provident fund, employee''s state insurance, Income Tax, Wealth Tax, Sales Tax, Customs Duty, cess and other material statutory dues applicable with appropriate authorities.

b) As on 31st March,2012, according to the records of the company and the information and explanation given to us, there are no disputed dues on accounts of income-tax, sales-tax, wealth tax, service tax, custom duty, excise duty and cess matters etc.,

X. The company does not have accumulated losses as at 31st March, 2012 has not incurred cash losses during the financial year ended on that date or in the immediately preceding financial year.

XI. According to the information and explanation given to us, the company has not defaulted in repayment of dues of any financial institution, bank or to debenture and other securities.

XII. According to the information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

XIII. The provisions of any special statute as specifed under paragraph (Xii) of the order are not applicable to the company.

XIV. In our opinion and according to the information and explanation given to us, the company is not dealer or trader in securities, debentures and other investments.

XV. According to the information and explanation given to us, the company has not given any guarantees for loans taken by other from banks or financial institutions.

XVI. According to the information and explanation given to us The Company obtained has not any term loans other than vehicles loans cash credits etc.

XVII. Based on the information and explanation given to us and on overall examination of balance sheet of the company, in our opinion, there are no funds raised on short term basis which have been used for long term investment.

XVIII. The company has not made any preferential allotment of shares to the parties and companies covered in the Register maintained under section 301 of the companies Act, 1956 during the year

XIX. As the company has not issued any debentures, paragraph (xix) of the order is not applicable to the company.

XX. The Company has not raised any money by Public Issue 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.

XXII. The other clauses (xi) and (xix) of the paragraph 4 of the Companies (Auditors Report) Order, 2003, as amended by the companies (Auditor''s report) order 2004, are not applicable in the case of the company for the current year, since in our opinion there is no matter which arises to be reported in the aforesaid order.

for VVS & ASSOCIATES Chartered Accountants

Sd/- (CA V V SUBRAMANYAM) Date : 01.09.2012. Proprietor Place : Hyderabad M. No. 023264 ICAI FRN: 010948S

 
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