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Auditor Report of Nimbus Projects Ltd.

Mar 31, 2015

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

Management Responsibility for the Financial Statements

The Company's management 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 and 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) Rule, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding the assets of the company and for preventing and detecting frauds and other irregularities, selection and application of appropriate accounting policies, making judgments and estimated that are reasonable and prudent, and design, implementation and maintenance of internal control , 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 provision 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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of 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 misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the 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 Company's internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimate made by the 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 explanation 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; and

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

c) In the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that 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 term of Sub Section (11) of Section 143 of the Companies Act, 2013 we give in the Annexure a statement on the matters specified in the paragraphs 3 and 4 of the said Order.

2. As required by Section 143(3) of the Companies Act, 2013 we report that:

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

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

iii) The Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with books of accounts;

iv) In our opinion, the Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement, comply with the Accounting Standards referred to in section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014..

v) On the basis of written representation received from the directors, as on March, 31, 2015 taken on record by board of directors, none of the directors is disqualified as on March, 31, 2015 from being appointed as a director in term of Sub-Section (2) of Section 164 of the Companies Act, 2013.

vi) In our opinion and to the best of our information and according to the explanation give to us, we report as under with respect to other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014:

i) The Company does not have any pending litigation which would impact its financial position.

ii) The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, and as required on long term contracts. The Company does not have any derivative contracts.

iii) There has not been any occasion in case of the company during the year under report to transfer any sums to the investor Education and Protection Fund. The question of delay in transferring such sums does not arise.

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1under Report on Other Legal and Regulatory Requirements" section of our report of even date)

1. In respect of Fixed Assets

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

(b) According to information and explanation given to us, all the assets have been physically verified by the management during the year under the regular programme of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, no part of the fixed assets of the Company was disposed off.

2. In respect of Inventory

(a) Company's Inventory comprises project under construction / development (Work In Progress) and trading stock of Commercial & Residential Units. As explained to us, the inventories were physically verified by the management at reasonable intervals during the previous year, which in our opinion is reasonable.

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

(c) In our opinion and according to the information and explanation given to us, the company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification.

3. According to the information and explanation given to us, the Company has not granted nor taken any loans, secured or unsecured to/ from the companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of Inventory, Fixed Assets and with regard to the sale of goods and services. During the course of our audit, we have neither come across nor have been informed of any continuing failure to correct major weakness no major weakness in internal control system.

5. In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit during the year from the public to which the directives issued by the Reserve bank of India and the Provisions of section 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules framed there under apply, or an order has been passed by Company Law Board or National Company law Tribunal or Reserve bank of India or any court or any other tribunal.

6. We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014, as amended and prescribed by the Central Government under sub section (1) of Section 148 of the Companies Act 2013, and are of the opinion that, prima facie, the prescribed cost records have been maintained. We have however, not made a detailed examination of the cost records with a view to determine whether these are accurate or complete.

7. (a) The Company is regular in depositing with appropriate authorities, undisputed statutory dues including Income Tax, TDS, Service Tax, Work Contract Tax, cess and other material statutory dues applicable to it. According to the information and explanation given to us, no undisputed amounts were in arrears as at 31st March, 2015 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 in respect of of Sales Tax / VAT, Income Tax, TDS, Wealth Tax, Service Tax, Work Contract Tax and cess as at 31st March 2015, which have not been deposited with the appropriate authorities on account of any dispute.

(c) According to the information and explanation given to us, no amount was required to be transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 2013.

8. The Company does not have accumulated loss at the end of the financial year. The Company has not incurred any cash losses during the financial year covered by our audit however in the immediately preceding financial year the company had incurred cash losses.

9. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institutions and / or banks.

10. According to information and explanation given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. Accordingly, the provisions of clause 3(x) of the order are not applicable to the Company.

11. According to information and explanation given to us, the term loans have been applied for the purpose for which they were raised.

12. According to information and explanation given to us, no fraud of material significance on or by the Company has been noticed or reported during the year.

For ANIL PRAHALAD & CO.

CHARTERED ACCOUNTANTS

Firm Regn. No. : 003921C

Place : Delhi

(ANIL KUMAR)

Date :01.07.2015 Prop.

Membership No. : 73030


Mar 31, 2014

We have audited the accompanying financial statements of NIMBUS PROJECTS LIMITED ("the Company") which comprise the Balance Sheet as at 31st March, 2014, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

Management Responsibility for the Financial Statements

The Company''s 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 notified under 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. 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.

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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of 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 misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the 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 Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimate made by the 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 explanation 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 case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2014;

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 case of Cash Flow Statement, of the cash flow of the Company 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 term of Section 227 (4A) of the Act, we give in the Annexure a statement on the matters specified in the paragraphs 4 and 5 of the said Order.

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

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

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

iii) The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with books of accounts;

iv) In our opinion, the Balance Sheet and Statement of Profit and Loss comply with the Accounting Standards notified under 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.

v) On the basis of written representation received from the directors, as on March, 31, 2014 taken on record by board of directors, none of the directors is disqualified as on March, 31, 2014 from being appointed as a director in term of Section 274(1) (g) of the Act.

ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT

(Referred to in paragraph 1 under "Report on Other Legal and Regulatory Requirements" section of our report of even date)

1. In respect of Fixed Assets

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

(b) According to information and explanation given to us, all the assets have been physically verified by the management during the year under the regular program of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, no part of the fixed assets of the Company was disposed off.

2. In respect of Inventory

(a) As explained to us, the inventories were physically verified during the year by the management at reasonable intervals.

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

(c) In our opinion and according to the information and explanation given to us, the company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification.

3. The Company has not taken loans secured or unsecured to/ from the companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956.

In respect of loans, secured or unsecured, granted by the company to parties covered in the Register maintained under section 301 of the Companies Act, 1956, according to the information and explanation given to us the companies has not granted any loan to any party.

4. In our opinion and according to the information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchases of Inventory, Fixed Assets and with regard to the sale of goods and services. During the course of our audit, we have neither come across nor have been informed of any continuing failure to correct major weakness no major weakness in internal control system.

5. In respect of contracts or arrangements entered in the Register maintained in pursuance of section 301 of the Companies Act, 1956, to the best of our knowledge and belief and according to the information and explanation given to us:

a) The particulars of contracts or arrangements referred to in section 301 of the Act that needed to be entered in the Register maintained under the said section have been so entered.

b) Where each of such transaction in excess of Rs. 5,00,000/- in respect of any party, the transactions have been made at prices which are prime facie reasonable having regard to the prevailing market prices at the relevant time, other than certain purchases which are of a special nature for which comparable quotations are not available and in respect of which we are, therefore, unable to comment.

6. In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit from the public and hence directive issued by the Reserve bank of India and the Provisions of section 58A and 58AA of the Companies Act, 1956 and rules framed there under are not applicable for the year under audit.

7. In our opinion and according to the information and explanation given to us, the company has an adequate internal audit system commensurate with the size of the Company and nature of its business.

8. We have broadly reviewed the cost records maintained by the Company pursuant to Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1) (d) of the Companies Act 1956 and area of the opinion that prima facie the prescribed cost records have been maintained. We have however, not made a detailed examination of the cost records with a view to determine they are accurate or complete.

9. (a) According to information and explanation given to us and the books and records examined by us the Company is regular in depositing undisputed statutory dues including provident funds, investor education and protection fund, Income Tax, TDS, Wealth Tax, Service Tax and other material statutory dues as applicable with appropriate authorities. No undisputed amounts were in arrears as at 31st March, 2014 for a period of more than six months from the date they become payable.

(b) According to the records of the Company, there are no dues outstanding of Income Tax, TDS, Wealth Tax, Service Tax and cess as at 31st march 2014, which have not been deposited with the appropriate authorities on account of any dispute.

10. The accumulated losses of the Company at the end of the financial year are less than fifty percent of its net worth. The Company has incurred cash losses during the financial year covered by our audit however, in the immediately preceding financial year; the Company had not incurred any cash loss.

11. In our opinion and according to the information and explanation given to us, the Company has not defaulted in repayment of dues to any financial institutions and / or banks.

12. According to information and explanation 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 during the year.

13. In our opinion, the Company is not a chit fund or a nidhi or a mutual benefit fund/ society. Therefore, the provisions 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 explanation given to us, the Company is not a dealer or trader in shares, securities, debentures and other investments therefore the provision of clause 4 (xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company.

15. According to information and explanation given by the management, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

16. According to information and explanation given to us, the term loans have been applied for the purpose for which they were raised.

17. According to information and explanation given to us, and an overall examination of Balance Sheet and Cash Flow Statement of the Company, we report that no fund raised on short term basis have been, prima facie, used for long term investment and no long term fund have been used to finance short term requirement,

18. During the Year, the Company has made preferential allotment of 8% Preference Shares; however none of the parties and companies are covered in the register maintained under Section 301 of the Companies Act 1956.

19. According to information and explanation given to us, the Company has not issued any debentures.

20. The Company has not raised any money through a public issue during the year.

21. According to information and explanation given to us, we report that no fraud of material significance on or by the Company has been noticed or reported during the course of our audit.

For ANIL PRAHALAD & CO. CHARTERED ACCOUNTANTS Firm Regn. No. : 003921C

Place : Delhi (ANIL KUMAR) Date : 28.05.2014 Prop. Membership No. : 73030


Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of NIMBUS PROJECTS LIMITED ("the Company") which comprise the Balance Sheet as at 31st March, 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

Management Responsibility for the Financial Statements

The Company''s 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 Section 211(3C) of the Companies Act, 1956 ("the Act") and in accordance with the accounting principles generally accepted in India. 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.

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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of 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 misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the 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 Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimate made by the 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 explanation 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 case of the Balance Sheet, of the state of affairs of the Company as at 3 T''March 2013;

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 case of Cash Flow Statement, of the cash flow of the Company 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 term of Section 227 (4 A) of the Act, we give in the Annexure a statement on the matters specified in the paragraphs 4 and 5 of the said Order.

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

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

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

iii) The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with books of accounts;

iv) In our opinion, the Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211 (3C) of the Act.

v) On the basis of written representation received from the directors, as on March, 31,2013 taken on record by board of directors, none of the directors is disqualified as on March, 31,2013 from being appointed as adirector in term of Section 2740Xg) of the Act.

ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT (Referred to in paragraph lunder "Report on Other Legal and Regulatory Requirements" section of our report of even date)

1. In respect of Fixed Assets

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

(b) Fixed assets have been physically verified by the management during the year. No material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanation given to us, the Company has not made any substantial disposal of the fixed assets during the year and going concern status of the Company is not affected.

2. In respect of Inventory

(a) As explained to us, the inventories were physically verified during the year by the management at reasonable intervals.

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

(c) In our opinion and according to the information and explanation given to us, the company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification.

3. The Company has not taken loans secured or unsecured to/ from the companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956.

In respect of loans, secured or unsecured, granted by the company to parties covered in the Register maintained under section 301 of the Companies Act, 1956, according to the information and explanation given to us the companies has not granted any loan to any party.

4. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regards to purchases of Inventory and Fixed Assets and the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weakness in such internal control system.

5. In respect of contracts or arrangements entered in the Register maintained in pursuance of section 301 of the Companies Act, 1956, to the best of our knowledge and belief and according to the information and explanation given to us:

a) The particulars of contracts or arrangements referred to in section 301 of the Act that needed to be entered in the Register maintained under the said section have been so entered.

b) Where each of such transaction in excess of Rs. 5,00,000/- inrespect of any party, the transactions have been made at prices which are prime facie reasonable having regard to the prevailing market prices at the relevant time, other than certain purchases which are of a special nature for which comparable quotations are not available and in respect of which we are, therefore, unable to comment.

6. In our opinion and according to the information and explanation given to us, the Company has not accepted any deposit from the public and hence directive issued by the Reserve bank of India and the Provisions of section 58A and 58AAof the Companies Act, 1956 and rules framed there under are not applicable for the year under audit.

7. In our opinion and according to the information and explanation given to us, the company has an adequate internal audit system commensurate with the size of the Company and nature of its business.

8. We have broadly reviewed the cost records maintained by the Company pursuant to Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1) (d) of the Companies Act 1956 and area of the opinion that prima facie the prescribed cost records have been maintained. We have however, not made a detailed examination of the cost records with a view to determine they are accurate or complete.

9. (a) According to information and explanation given to us and the books and records examined by us the Company is regular in depositing with appropriate authorities undisputed statutory dues, including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and any other material statutory dues as applicable with appropriate authorities.

(b) According to the records of the Company, there are no undisputed amounts payable in respect of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and any other material statutory dues in arrears as at March 31,2013 for a period of more than six months from the date they become payable.

10. The Company does not have accumulated loss at the end of the financial year. The Company has not incurred any cash losses during the financial year covered by our audit and in the immediately preceding financial year.

11. In our opinion and according to the information and explanation given to us, the Company has not defaulted in repayment of dues to any financial institutions and / or banks.

12. According to information and explanation 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 during the year.

13. In our opinion, the Company is not a chit fund or a nidhi or a mutual benefit fund/ society. Therefore the provisions 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 explanation given to us, the Company is not a dealer or trader in shares, securities, debentures and other investments therefore the provision of clause 4 (xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company

15. According to information and explanation given by the management, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

16. According to information and explanation given to us, the term loans have been applied for the purpose for which they were raised.

17. According to information and explanation given to us, and an overall examination of Balance Sheet and Cash Flow Statement of the Company, we report mat no fund raised on short term basis have been, prima facie, used for long term investment and no long term fund have been used to finance short term requirement,

18. During the Year, the Company has made preferential allotment of 8% Preference Shares; however none of the parties and companies are covered in the register maintained under Section 301 of the Companies Act 1956.

19. According to information and explanation given to us, the Company has not issued any debentures.

20. The Company has not rai sed any money through a public issue during the year.

21. According to information and explanation given to us, we report that no fraud of material significance on or by the Company has been noticed or reported during the course of our audit.





For ANIL PRAHAL AD & CO.

CHARTERED ACCOUNTANTS

Firm Regn.No. : 003921C



Place: Delhi (ANILKUMAR)

Date: 28.05.2013 Prop

Membership No.: 73030


Mar 31, 2010

1. We have audited the attached Balance Sheet of NCJ International Ltd ("the Company") as at 31st March, 2010, the Profit and Loss Account and the Cash Flow Statement for the year ended on that date, both annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on the financial statement based on our audit.

2. We conducted our audit in accordance with audited 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 from material misstatement. An audit includes examining, on a test basis, evidence supporting the amount 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 2003 issued by the Central Government of India in term of Sub Section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in the paragraphs 4 and 5 of the said Order, to the extent applicable to the Company.

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

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

ii) In our opinion, proper books of accounts as required by law have been kept by the Company as far as appears from ourexamination of these books;

iii) The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with books of accounts;

iv) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt by this report comply with the Accounting Standards referred to 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 March, 31, 2010, we report that none of the director is disqualified as on March, 31,2010 from being appointment in term of clause (g) of Sub-Section (1) of Section 274 of the Companies Act, 1956;

vi) In our opinion and to the best of our information and according to explanation given to us , the said accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

a) In case of the Balance Sheet, of the state of affairs of the Company as at 31 st March 2010;

b) In the case of the Profit and Loss Account, of the profit of the Company forthe year ended on that date; and

c) In case of Cash Flow Statement, of the cash flow of the Company forthe year ended on that date.

ANNEXURE REFERRED TO IN PARAGRAPH 3 OF OUR REPORT OF EVEN DATE ANNEXEO FOR THE YEAR ENDED ON 31 ST MARCH 2010.

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

(b) Fixed assets have been physically verified by the management during the year. No material discrepancies were noticed on physical verification.

(c) In our opinion there was no substantial disposal of the fixed assets during the year affecting the going concern status of the Company.

2. The management has been conducted regular physical verification of inventory. The Company has maintained proper records of its inventories and no material discrepancies were noticed on such physical verification.

3. The Company has granted or taken loans secured or unsecured to/ from the companies , firms or other parties covered in the register maintained under Section 301 of the Companies Act,1956.

4. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business. During the course of our audit, no major weakness has been observed in the internal control.

5. The Company has entered the particulars of the transactions made with the companies covered in the Register maintained undersection 301 of the Companies Act, 1956.

6. The Company has not accepted public deposit under provisions of Section 58A and 58AA of the Act and rules framed there under.

7. There is an adequate internal audit system commensurate with the size of the Company and nature of its business.

8. The Company is not required to maintain cost record prescribed under Section 209(1 )(d) of the Act.

9. (a) According to information and explanation given to us and the books and records examined by us the Company is regular in depositing undisputed statutory dues including provident funds, investor education and protection fund, employees state insurance, income tax, wealth tax, custom duty, excise duty, cess and other material statutory dues as applicable with appropriate authorities.

(b) According to the records of the Company, there are no dues outstanding of sale tax, income tax, custom duty, wealth tax, excise duty and cess on account of any dispute.

10. The Company does not have accumulated loss as the end of the Financial Year. The Company has not incurred any cash losses during the financial year covered by our audit.

11. During the financial year Company has not defaulted in repayment of dues to any financial intuitions and / or banks.

12. The Company has not advanced / granted any loan on the basis of security by way of pledge of shares, debentures and other securities during the year.

13. The provisions of special statute applicable to chit fund, nidhi, and mutual benefit funds/ society are not applicable to the Company.

14. In respect of dealing in shares, securities, debentures and other investments, in our opinion and according to the information and explanation given to us, proper records has been maintained of the transactions and contracts and timely entries have been made therein.

15. According to information and explanation given to us, the Company has not given guarantee for loans taken by others from banks orfinancial intuitions.

16. According to information and explanation given to us Company has raised term loans and also has taken car loans.

17. According to information and explanation given to us, and an overall examination of Balance Sheet and Cash Flow Statement of the Company, we report that no fund raised on short term basis have been, prima facie, used for long term investment and no long term fund have been used to finance short term requirement.

18. The Company has not made any preferential allotment of shares during the year to the parties or companies covered in the register maintained under Section 301 of the Act.

19. The Company has not raised any debentures during the year; therefore there were no creation of securities during the year.

20. The Company has not raised any money through a public issue during the year.

21. In our opinion, considering the size and the nature of the Companys operation, no fraud of material significance on or by the Company has been noticed or reported during the year.

For ANIL PRAHLAD & CO.

CHARTERED ACCOUNTANTS

Place: New Delhi (ANIL KUMAR)

Date: 18th,August 2010 Prop.

Membership No.: 73030



 
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