Auditor Report of Nihar Info Global Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of M/s. NIHAR INFO GLOBAL LIMITED ("the Company"), which comprise the Balance Sheet as at March 31, 2015, 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

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 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.

Auditors' 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 the 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 Section 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 the 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. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the 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.

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2015;

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

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

Emphasis of Matter

(a) We draw your attention to Note 1.8 with respect to Investments have not been confirmed by the parties.

(b) Due to un availability of Confirmation from debtors, advances and creditors , we are unable to draw conclusion on those balances Report on Other Legal and Regulatory Requirements 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 purposes 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 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 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) Based on the Written Representation received from the directors as on 31st March 2015, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March,2015 from being appointed as a director in terms of Sub-section 2 of Section 164 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:

(g) The Company has disclosed the impact of pending litigations on its financial position in its financial statements – Refer clause No.vii(b) of CARO,2015 and note no.2.37 to the financial statements;

Annexure to Independent Auditors' report

(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' section of our report of even date of M/s .NIHAR INFO GLOBAL LIMITED for the year ended March 31, 2015).

i. In respect of fixed assets

(a) The company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets;

(b) As explained to us, all the fixed assets have been physically verified by the Management during the year. No material discrepancies were noticed on such verification.

ii. In respect of its inventories:

The company does not have any inventory.

iii. In respect of loans:

As informed to us, during the year the company has granted unsecured Interest free loans to one company covered in the register maintained under section 189 of the Companies Act.

The receipt of the principal amount is not due as on 31st ,March 2015.

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 the nature of its business for the purchase of inventory, fixed assets and for the sale of goods & services.

v. The company has not accepted any deposits, and hence clause (v) of Companies (Auditor's Report) Order, 2015 is not applicable.

vi. Section 148(1) of the Companies Act, 2013 is not applicable as company has no manufacturing activity.

vii. a) According to the information and explanations given to us and the records produced and examined by us, in our opinion, the company is not regular in depositing undisputed statutory dues consisting of service tax, VAT,TDS ,ESI and Professional Tax; while the undisputed statutory dues under PF are paid however with delay. As explained to us, the company did not have any dues on account of Excise duty, Wealth tax and Investor Education and Protection Fund.

According to the information and explanations given to us, there are undisputed amounts payable in respect of , Income-tax, Service tax, VAT and TDS which are in arrears as at 31 March 2015 for a period more than six months from the date they became payable.

Name of the statute Nature of the dues Amount(Rs.) Period to which the amount relates

Andhra Pradesh Value Added Tax Act, 2005 Value Added Tax 6,511 2014-15

Finance Act, 1994 Service Tax 5,97,118 2014-15 & 2013-14 Income Tax Act, 1961 TDS 73,305 2014-15 & 2013-14

b) According to the information and explanations given to us, there are no dues of Income-tax, Service tax and Customs duty which have not been deposited with the appropriate authorities on account of any dispute. As informed to us, the company did not have any dues on account of Wealth tax and Excise duty.

viii. The Company does not have any accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year. ix. In our opinion and according to the information and explanations given to us, as the company has not take any loan from bankers and financial institutions, this Clause is not applicable x. According to the information and explanations given to us the company has not given any guarantee for loans taken by others from banks or financial institutions. xi. In our opinion and according to the information and explanations given to us, the Company has not taken any term loans .Hence this clause is not applicable. xii. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of audit.

For C. RAMACHANDRAM & CO.,

Chartered accountants, FRN.002864S

(Sd/-)

C.RAMACHANDRAM

Partner

Membership No: 25834

Place: Hyderabad Date: 27/08/2015

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Mar 31, 2014

We have audited the accompanying financial statements of M/s NIHAR INFO GLOBAL LIMITED (the Company) 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

The 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 ("the Act") read with the General Circular 15/2013 dated 13lh September 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors'' 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, but not for the purpose of expressing an opinion on the effectiveness of the entity''s internal control and 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 Statement of Profit and Loss, 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.

Emphasis of Matter

(a) We draw your attention to Note 2.8 with respect to Balances under Sundry Debtors/ claims Recoverable / Loans & Advances / Sundry Creditors / Other Liabilities / investments have not been confirmed by the parties.

(b) The Corporation is not providing for employee benefits defined under AS-15 "Retirement Benefits" issued by the ICAI. Refer note no. 2.6

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s 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.

c) The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement 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 Companies Act, 1956 read with the General Circular 15/2013 dated 13 September 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 directors as on March 31,2014 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 Section 274(1)(g) of the Act..

Annexure to Independent Auditors'' report (Referred to in paragraph 1 under ''Report on Other Legal and Regulatory Requirements'' section of our report of even date of M/s .NIHAR INFO GLOBAL LIMITED for the year ended March 31,2014).

1. In respect of its fixed Assets:

a. The company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

b. As explained to us, the fixed assets have been physically verified by the management during the year in a phased periodical manner, which in our opinion is reasonable, having regard to size of the company and nature of its assets. According to the information and explanations given to us, no material discrepancies were notice on such physical verification.

c. According to the information and explanations given to us, the Company has not disposed off substantial part of fixed assets during the year and the going concern status of the company is not affected.

2. There is no Inventory during the period covered by our audit.

3. A. The company has not granted any loans, secured or unsecured, to Companies, firms or other parties covered in the register maintained under Section 301 of the Act. Accordingly sub clauses (b), (c) & (d) of clause 3 of this order are not applicable.

B. The company has taken unsecured loan from Four Parties listed in register maintained under Section 30 of the Companies Act. The maximum amount involved during the year was Rs.240.58Lacs and the yearend balance of such loan was Rs.240.58 Lacs.

C. The terms and conditions on which such loan has been taken are not prima facie prejudicial to the interest of the company.

D. The loan is repayable on demand and company is paying when such loan is demanded.

4. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchases, fixed assets and with regard to the sales. We have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of transactions covered under section 301 of the Companies Act, 1956:

a. According to the information and explanations given to us, there have been no contracts or arrangements referred to in section 301 of the Companies Act, 1956 during the year to be entered in the register required to be maintained under that section. Accordingly commenting on the transactions made in pursuance of such contracts or arrangements does not arise, hence clause 5(b) is not applicable.

6. In our opinion and according to the information and explanations given to us, the company has not accepted any deposits from the public within the meaning of Section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under.

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

8. Section 209(1)(d) of the Companies Act, 1956 is not applicable as company has no manufacturing activity.

9. In respect of Statutory dues:

A) According to the records, during the year, the company is not regular in depositing with appropriate authorities undisputed statutory dues including provident fund, sales tax, income tax, and service tax applicable to it and there have been substantial delays in all cases.

B) There were no undisputed amounts payable in respect of Provident Fund, Income-tax, Sales Tax, Value Added Tax, Service Tax, and other material statutory dues in arrears as at March 31,2014 for a period of more than six months from the date they became payable.

C) According to the records of the company, there was no disputed statutory dues that have not been deposited on account of the matters pending before appropriate authorities as on 31st March, 2014 except for Income tax demand of Rs. 1,24,507/- for which the company has not provided.

10. The company has accumulated losses as at March 31,2014 and it has not incurred any cash losses in the financial year ended on that date and has incurred cash losses in the immediately preceding financial year.

11. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayments of loans.

12. In our opinion and according to the information and explanations given to us, no loans and advances have been granted by the Company on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provision of clause 4(xiii) of the companies (Auditor''s Report) Order, 2003 are not applicable to the Company.

14. In our opinion and according to the information and explanations given to us, the company is not dealing in or trading in shares, securities, debentures and the investments.

15. The Company has not given any bank guarantee for loans taken by others from financial institution.

16. In our opinion and according to the information and explanations given to us no term loans have been obtained by the company during the year.

17. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we are of the opinion that funds raised on short term basis have not been used during the year for long term Investments.

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

19. The Company has not issued any debentures and hence question of creating securities or charge in respect thereof does not arises.

20. During the year the Company has not raised any money by way of public issue.

21. To the best of our knowledge and belief, and according to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year.

For C. RAMACHANDRAM & CO.,

Chartered accountants,

Firm Registration No : 002864S.

C.RAMACHANDRAM

Partner

Membership No: 025834.

Place: Hyderabad Date : 28.08.2014

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Mar 31, 2012

1) We have audited the attached Balance Sheet of Nihar Info Global Limited, as at 31st March 2012, the Statement of Profit and Loss and also the Cash Flow Statement of the Company 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 also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting policies 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.

3) As required by the companies (Auditors' Report) Order 2003 as amended by the Companies (Auditor's Report) Order (Amendment) 2004, issued by the Central Government in terms of sub section (4A) of Section 227 of the Companies Act 1956, we give in the Annexure a statement on the matters specified in 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 :

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 Cash Flow Statement dealt with by this report are in agreement with the books of account;

d) In our opinion, the Balance sheet, Statement of Profit & Loss and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub section (3C) of section 211 of the Companies Act, 1956.

e) On the basis of written representation received from the Directors, as on March 31,2012 and taken on record by the Board of Directors, we report that none of the directors 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 financial statements read with '"Significant Accounting Policies" and Notes thereon 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 March 31, 2012

(ii) in the case of the Statement of Profit and Loss, of the loss of the Company for the year ended on that date, and

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

ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE to the members of Nihar Info Global Limited on the financial statements as at and for the year ended March 31 , 2012

1. (a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The fixed assets are physically verified by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. In our opinion, the frequency of verification is reasonable.

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

2. The Company has taken an amount of Rs.98,74,546/- in the nature of interest free unsecured demand loan from two parties covered in the register maintained under section 301 of the Companies act 1956. Maximum balance outstanding during the year is Rs. 2,1 1,18,366 /- balance outstanding as on 31.03.2012 is Rs.2,1 1,18,366/-.

3. The Company has not granted/taken any loans, secured or unsecured, to /from companies, firms or other parties covered in the register maintained under section 301 of the act.

4. In our opinion and according to the information and explanations given to us, having regard to the explanation that certain items purchased are of special nature for which suitable alternative sources do not exist for obtaining comparative quotations, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of fixed assets, inventory and for the sale of goods and services. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system.

5. According to the information and explanations given to us, there have been no contracts or arrangements referred to in section 301 of the act during the year to be entered in the register required to be maintained under that section. Accordingly, commenting on transactions made in pursuance of such contracts or arrangements does not arise.

6. The company has not accepted any deposits from the public within the meaning of section 58A and 58AA of the act and the rules framed there under.

7. In our opinion , the company has no internal audit system commensurate with its size and nature of its business.

8. (a) According to the records, during the year, the company is not regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees Stae Insurance, Sales Tax, Income Tax, Service Tax applicable to it and there have been substantial delays in all cases.

(b) In our opinion and according to the information and explanation given to us, the following arrears are outstanding as at 31st March 2012 for more than Six months:

Particulars Amount (Rs.)

Provident Fund Penalty 7,82,025/-

Income Tax deducted at source 47,107/-

9. The Company has accumulated losses as at 31st March 2012 and it has incurred cash losses in the financial year ended on that date and in the immediately preceding financial year also.

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

11. In our opinion, the Company is not a dealer or trader in shares, securities, debentures and other investment.

12. In our opinion and according to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

13. The company has not obtained any term loans during the year.

14. On the basis of an overall examination of the balance sheet of the company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short term basis which have been used for long term investment.

15. 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.

16. The Company has not raised any money by public issues during the year.

17. During the course of 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.

18. The other clauses (ii), (iii) (b), (iii)(c), (iii)(d), (iii)(f),(iii)(g),(viii),(xi),(xiii) and (xix) of paragraph 4 of the Companies (Auditor's Report) Order 2003, relating to inventory, cost records, chit fund business, change in respect of debentures as amended by the Companies(Auditor's Report)(Amendment) 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 C. Ramchandram & Co.

Place: Hyderabad Chartered Accountants

Date: 30-08-2012 Firm Reg. No. 002864S

(Sd/-)

C. Ramchandram

Partner

Membership No.025834

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Mar 31, 2011

1) We have audited the attached Balance Sheet of Nihar Info Global Limited, as at 31st March 2011, and the related Profit & Loss Account and Cash Flow Statement for the year ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on 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 also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting policies.

3) As required by the companies (Auditors' Report) Order 2003 as amended by the Companies (Auditor's Report)(Amendment) Order 2004, issued by the Central Government of India in terms of sub section (4A) of Section 227 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 a statement on the matters specified in paragraphs4 and 5 of the said order. Attention is required to point 2(g) (h) (i) and (j) of schedule K of the attached balance sheet.

4) Further to our comments in the Annexure referred to in paragraph 3 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 duty;

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, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

d) In our opinion, the Balance sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub section (3C) of section 211 of the act.

e) On the basis of written representation received from the Directors, as on March 31,2011 from being appointed as a director in terms of clause (g) of sub section (1) of section 274 of the Act;

f) In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto give in the prescribed manner the information required by the act and give a true and fair view in confirmity 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 March 31, 2011

(ii) in the case of the Profit and Loss Account, of the loss for the year ended on that date and

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

ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE to the members of Nihar Info Global Limited on the financial statements as at and for the year ended March 31, 2011

1. (a) The company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The fixed assets are physically verified by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. In our opinion, the frequency of verification is reasonable.

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

2. The Company has taken an amount of Rs. 96,95,163/- in the nature of interest free unsecured demand loan from two parties covered in the register maintained under section 301 of the Companies act 1956. Maximum balance outstanding during the year is Rs. 1,04,90,720/-. Balance outstanding as on 31-03-2011 is Rs. 1,01,43,820/-.

3. The Company has not granted/taken any loans, secured or unsecured, to /from companies, firms or other parties covered in the register maintained under section 301 of the act.

4. In our opinion and according to the information and explanations given to us, having regard to the explanation that certain items purchased are of special nature for which suitable alternative sources do not exist for obtaining comparative quotations, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of fixed assets, inventory and for the sale of goods and services. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system.

5. According to the information and explanations given to us, there have been no contracts or arrangements referred to in section 301 of the act during the year to be entered in the register required to be maintained under that section. Accordingly, commenting on transactions made in pursuance of such contracts or arrangements does not arise.

6. The company has not accepted any deposits from the public within the meaning of section 58A and 58AA of the act and the rules framed there under.

7. In our opinion , the company has no internal audit system commensurate with its size and nature of its business.

8. (a) According to the records, during the year, the company is not regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees Stae Insurance, Sales Tax, Income Tax, Service Tax applicable to it and there have been substantial delays in all cases.

(b) In our opinion and according to the information and explanation given to us, the following arrears are outstanding for more than Six months as at 31st March 2011:

Particulars Amount (Rs.)

Provident Fund Penalty 12,63,375

Professional Tax 22,723

Income Ta x deducted at source 43,648

Service Tax 3,22,927

9. The company has accumulated losses as at 31st March 2011 and it has incurred cash losses in the financial year ended on that date and in the immediately preceding financial year also.

10. The company has working capital loan with outstanding balance of Rs. 3,41,631/- with Union Bank of India, Jubilee Hills Branch, classified as non-performing asset by the bank as provision of RBI.

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

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

13. In our opinion and according to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

14. The company has not obtained any term loans during the year.

15. On the basis of an overall examination of the balance sheet of the company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short term basis which have been used for long term investment.

16. 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.

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

18. During the course of 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.

19. The other clauses (ii), (iii) (b), (iii)(c), (iii)(d), (iii)(f),(iii)(g),(viii),(xi),(xiii) and (xix) of paragraph 4 of the Companies (Auditor's Report) Order 2003, relating to inventory, cost records, Chit Fund business, change in respect of debentures as amended by the Companies(Auditor's Report) (Amendment) 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 C. Ramachandram & Co. Chartered Accountants Firm Reg. No. 002864S

(Sd/-) C Ramachandram Partner Membership No.-25834

Place: Hyderabad Date: 29th August 2011

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of Nihar Info Global Limited, as at March 31, 2010, and the related Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto, which we have signed under reference to this report. 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 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, 2013, as amended by the Companies (Auditors Report) (Amendment) Order, 2004, issued by the Central Governmert of India in terms of sub-section (4A) of Section 227 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 a statement on the matters specified in paragraphs 4 and 5 of the said Order.

Attention is required to point 2(g) and (h) of schedule K of the attached balance sheet.

4. Further to our comments in the Annexure referred to in paragraph 3 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 purposes 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, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

(d) In our opinion, the Balance Sheet. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub- section (3C) of section 211 of the Act;

(e) On the basis of written representations received from the directors, as on March 31, 2010 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2010 from being appointed as a director in terms of clause (g) of sub- section (1) of section 274 of the Act;

(f) In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto give in the prescribed manner the information required by the Act a vi 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 March 31, 2010; (ii) in the case of the Profit and Loss Account, of the loss for the year ended on that date; and (iii) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.



ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE to the members of Nihar Info Global Limited on the financial statements as at and for the year ended March 31, 2010



1. (a) The company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets.



(b) The fixed assets are phvsicallv verified by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. In our opinion, the frequency of verification is reasonable.



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



2. The company has taken interest free unsecured demand loan from one party covered in the register maintained under section 301 of the companies act. The terms & conditions are prime faces, not prejudicial to the interest of the comnany and shareholders.

3. The company has not granted/taken any loans, secured or unsecured, to/from companies, firms or other parties covered in the register maintained under Section 301 of the Act.

4. In our opinion and according to the information and explanations given to us, having regard to the explanation that certain items purchased are of special nature for which suitable alternative sources do not exist for obtaining comparative quotations, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase of fixed assets, inventory and for the sale of goods and services. Further, on the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system.

5. According to the information and explanations given to us, there have been no contracts or arrangements referred to in Section 301 of the Act during the year to be entered in the register required to be maintained under that section. Accordingly, commenting on transactions made in pursuance of such contracts or arrangements does not arise.

6. The company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the rules framed there under.

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

8. (a) According to the records, during the year, the company i$ not regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Sales Tax, Income-tax, Service Tax, applicable to it and there have been substantial delays in all cases. (b) In our opinion and according to the information and explanations given to us, the following arrears are outstanding as at 31st March,2010 for a period of more than six months from the date they became payable except P.T.



Particulars. Amount /.Rs,

Provident Fund Penalty 1713375/-

Provident Fund 196808/-

Professional Tax 193278/-

Income tax deducted at source 42307/-

Service Tax 1381103/-



9. The company has been registered for a period of not less than five years, its accumulated losses at the end of the financial year are more than 50% of its net worth and it has incurred cash losses in the financialyear 2009-10 and in the immediate preceding financial year 2008-09.

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

11. The Company has defaulted in repayment of dues to Union Bank of India amounting Rupees 5,147,331 which became due on 31.032010.

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

13. In our opinion and according to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

14. The companv has not obtained any term loans during the year.

15. On the basis of an overall examination of the balance sheet of the company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis which have been used for long-term investment.

16. 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.

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

18. During the course of 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.

19. The other clauses {ii), (iii) (b), (iii)(c), (iii)(d), (iii)(f), (iii)(g), (viii), (xi), (xiii), and (xix) of paragraph 4 of the Companies {Auditors Report) Order 2003, as amended by the Companies (Auditors Report) (Amendment) 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 C. Ramachandram & Co Chartered Accountants Firm Reg. No. 002864S

(Sd/-)

C. Ramachandram Partner Membership No - 25834

Place : Hyderabad. Date : 0109.2010