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Auditor Report of Nutricircle Ltd.

Mar 31, 2015

We have audited the accompanying standalone financial statements of NUTRICIRCLE LTD ("the company"), which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss, the 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 in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone 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 13 3 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting 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 control, that were operating euectively 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 standalone 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 have 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 mis-statement.

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 true and fair view 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 Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is suucient 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 state of affairs of the company as at March 31,2015, and its 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,2015 ('The Order') issued by the central Government of India in terms of sub-section (11) of section 143 of the act, we give 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 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, the 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 aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e) On the basis of written representations received from the directors as on 31 March, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on 31 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 and to best of our information and According to the explanations given to me:

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

ii. The Company did not have any long-term contracts including 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

Annexure to Independent Auditor's Report

(Referred to in paragraph 1 of the Our Report on other Legal and Regulatory Requirements forming part of the Independent Auditor's Report dated 25/05/2015 to the members of Nutricircle Limited on the accounts of the company for the year ended 31s* March, 2015.

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

(b) According to the information and explanations given to us, fixed assets have been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification.

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

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

(c) In our opinion and on the basis of our examination of the records, the Company is generally maintaining proper records of its inventories. No material discrepancy was noticed on physical verification of stocks by the management as compared to book records.

3. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 2013. Consequently, the provisions of clauses iii (b), iii(c) and iii (d) of the order are not applicable to the Company.

4. In our opinion and according to the information and explanations given to us, there is an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories and fixed assets and payment for expenses & for sale of goods. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

5. The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 2013.

6. As per information & explanation given by the management, maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Act.

7. (a) According to the records of the company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess, Income tax value added tax to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as mentioned above as at 31st of March, 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there no amounts payable in respect of income tax, wealth tax, value added tax, service tax, customs duty excise duty which have not been deposited on account of disputes.

(c ) According to the information and explanation given to us and on the basis of examination of records, during the year under review there were no amounts which were required to be transferred to Investor Education and Protection Fund by the company . Hence clause 4 (vii) ( C) of the Order is not applicable

8. The Company have accumulated loss of 5,17,18,238 /- and have cash loss 27,09,300 /- during the financial year covered by our audit and has cash loss 10,68,335 /- in the immediately preceding financial year.

9. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

10. According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution, bank

11. Based on our audit procedures and on the information given by the management, we report that the company has not raised any term loans during the year.

12. Based on our audit procedures and according to information and explanations given to us , no fraud on or by the company has been noticed or reported during the course of our audit

For S.K.BANG & CO Chartered Accountants

Sd/-

Sampath Kumar Bang Partner Membership No. :026010

Place: Hyderabad Date: 25/05/2015


Mar 31, 2014

Report on the Financial Statements

We have audited the accompanying financial statements of SHREEYASH INDUSTRIES LIMITED, Hyderabad which comprise the balance sheet as at March 31,2014, and the statement of Profit and Loss, and a 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, and financial performance of the company in accordance with the accounting principles generally accepted in India, including accounting standards referred to in sub section (3C) of section 211 of Companies Act, 1956 ("Act") . 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 misstatements, 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 disclosers in 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 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 company''s internal controls. 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 financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

In our opinion and to the best of our information and according to the explanation 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 & Loss, of the company for the year ended on March 31, 2014.

Report on other Legal and Regulatory requirements

As required by the Companies (Auditors'' Report) Order, 2003 issued by the Central Government of India in terms of Subsection (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.

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

a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the 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 and statement of Profit and Loss dealt with by this report are in agreement with books of account.

d) In our opinion, the Balance Sheet and Statement of Profit & Loss comply with the accounting standards referred to in Subsection (3C) of Section 211 of the Companies Act, 1956.

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

ANNEXURE TO AUDITOR''S REPORT

As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India in terms of Subsection (4A) of Section 227 of the Companies Act, .further report that:

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

b. All fixed assets have been physically verified by the management during the year and there is a 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. There was no disposal of a substantial part of its fixed assets during the year.

(ii) The Company at reasonable intervals has conducted physical verification of inventories. The procedures for physical verification of stocks followed by the Company are reasonable and adequate in relation to the size of the company and the nature of its business. The Company is maintaining reasonable records for the inventories and no material discrepancies were noticed on such verification.

(iii) a. 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 301 of the Act accordingly, the provisions of clause 4(iii)(a) to (d) of the order are not applicable to the company and hence not commented upon.

b. According to the information and explanations given to us, the company has not taken any loans, secured or unsecured from companies, firms or other parties covered in the register maintained under section 301 of the Act accordingly, the provisions of clause 4(iii)(e) to (g) of the order are not applicable to the company and hence not commented upon.

(iv) In our opinion and 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 and fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any major weakness or continuing failure to correct any major weakness in the internal control system of the company in respect of these areas. However the internal controls need to be further strengthened to be in commensurate with the size and nature of its business. Getting confirmations of independent account balances from all third parties should be emphasized upon.

(v) According to the information and explanations given and as informed by the management, there are no contracts or arrangements referred to in section 301 of the Act that need to be entered in to the register maintained under section 301.

(vi) According to the information and explanations provided by the management, no deposits have been accepted by the company during the year. Other than interest free unsecured loans from promoters and directors of the company.

(vii) The Company has no Internal Audit System.

(viii) According to the information and explanations and representations given by the management, we have been informed that the company does not come under the purview of the rules made by the central government for the maintenance of cost records u/s 209 (l)(d) of the Act.

(ix) a. 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, Customs duty, Excise duty, Cess and other material statutory dues applicable to it.

b. According to the explanations and information given to us there were no undisputed statutory dues in respect of Provident Fund, Investor Education and Protection Fund, Income-tax, Sales- tax, Wealth Tax, Custom Duty, Excise Duty etc outstanding for a period of more than six months from the date they became payable.

(x) In our opinion, the company has accumulated losses at the end of the financial year. The company has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(xi) Based on our audit procedures and as per the information and explanations given by the management, the company has not taken any loans from a financial institution, Bank, or issued any debentures.

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

(xiii) In our opinion, the company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors'' Report) Order, 2003 (as amended) are not applicable to the company.

(xiv) In our opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors'' Report) Order, 2003 (as amended) are not applicable to the company.

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

(xvi) Based on the information and explanations given to us by the management, no term loans were taken by the company.

(xvii) According to the information and explanation given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short-term have been used for long-term investment.

(xviii) The company has not made any preferential allotment of shares to parties covered in the register maintained under section 301 of the Act. In our opinion, the prices at which shares have been issued is not pre-judicial to the interest of the company.

(xix) The company has not issued any secured or unsecured bonds and debentures during the year.

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

(xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the year.



For Chakradhar & Nandan

Chartered Accountants

Sd/-

(K .S. Nandan)

Partner

Membership No. 201123

Place: Hyderabad

Date : 24.05.2014


Mar 31, 2012

01. We have audited the attached Balance Sheet of M/s. Shreeyash Industries Limited, as at 31st March 2012 and also the Statement of Profit & Loss of the Company for the year ended on that date annexed thereto. These financial statements are responsibility of the Company Management. Our responsibility is the express an opinion on these financial statements based on our audit.

02. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes Examining, on a test basis, evidence supporting the presentation. We believe that our audit provides a reasonable basis for our opinion.

03. As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India in terms of Sub-section (4A) 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 to the extent applicable.

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

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

b) In our opinion, the Company has kept proper books of account as required by law so far, as appears from our examination of those books.

c) The Balance Sheet and the Statement of Profit and Loss referred to in this report are in agreement with the books of account.

d) In our opinion, the Statement of Profit & Loss and the Balance Sheet comply with the entire mandatory Accounting Standards referred to in Sub-section (3C) of Section 211 of the Companies Act, 1956.

e) On the basis of written representations received from the directors, and taken on record by the Board of Directors, in our opinion, none the directors is disqualified for the year ended on that date from being appointed as director in terms of clause (g) of Sub-section (1) Section 274 of Companies Act, 1956.

f) In our opinion and as per the our information and according to the explanation given to us, the said Balance Sheet and the Statement of Profit and Loss, read together with notes thereon, give the information required be 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 affaire of the Company as at 31st March 2012;

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

iii) In the case of Cash Flow Statement, of the Cash Flows for the year ended on that date.

ANNEXURE TO AUDITORS'' REPORT (This is the Annexure referred to in our Report of even date)

1 The Company has maintained reasonable records showing full particulars including quantitative details and situation of fixed assets. The assets have been physically verified by the management during the period as per a 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.

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

3 The stocks of finished goods, raw materials and stores have been physically verified during the period by the management at reasonable intervals.

4 The procedures of physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

5 The discrepancies noticed on verification between the physical stocks and the book records were not material.

6 On the basis of examination of stock records, we are of the opinion that the valuation of stocks is fair and proper and in accordance with the normally accepted accounting principles and are on the same basis in the preceding year.

7 According to the information furnished and explanations offered, the Company has not granted any loans, secured or unsecured from companies, firms or other parties listed in the register maintained under section 301 of the companies Act, 1956. As per the information and explanation given to us there are no companies under the same management as defined under sub-section (1-B) of section 370 of the said Act.

8 In our opinion internal control procedures of the Company as regards to its nature and the size of its business are not satisfactory in relation to purchases, sales of material & goods. As regards for other assets the internal control procedures are reasonably satisfactory commensurate with the size and nature of the business. There is an immediate requirement to improve the systems with regard to the purchase and sale of goods.

9 The central Government has not prescribed the maintenance of cost records by the by the Company under section 209(1) (d) of the Companies Act, 1956 for any its products.

10 In our opinion and according to the information and explanations given to us, there are no transactions of purchase of goods and materials or sale of goods and materials made by the Company in pursuance of contracts or arrangements entered in the registered maintained under Section 301 of the companies Act, 1956 aggregating during the year for Rs.50, 000 or more in respect of each party.

11 According to the information and explanations given to us, there are no unserviceable or damaged stores, raw materials or finished goods.

12 The Company has not accepted any deposits from the public, other than interest free unsecured loans from Director''s and their relatives.

13 The Company has not given any guarantee for loans taken by others from bank or financial institutions.

14 During the year the Company had Trading operation only and they do not engage in any manufacturing activity. The Company does not get any scrap in the manufacturing processing; thereby the maintenance of the records does arise.

15 The Company has no Internal Audit system.

16 During the financial year there were no transactions exceeding the value of five lakes rupees in respect of each party, which need to be, entered into a registrar in pursuance of section 301 of the Companies Act, 1956.

17 According to the explanations & information given to us the Provisions of provident fund Act and the Employees Sate Insurance Act is not applicable to this Company as there is no employee who is qualified for such payments nor the Act do apply as on date.

18 According to the information and explanations given to us, no undisputed amounts applicable in respect of Income Tax, Sales Tax, Custom Duty and Excise Duty were outstanding for a period of more than six months from the date they became payable. The Provisions of Wealth Tax Act do not applicable to this Company.

19 According to the information and explanation given to us, no personal expenses of employees or Directors have been charged to revenue account, other than that payable under contractual obligations.

20 The Company has accumulated losses at the end of the financial year and it has not incurred cash losses during the current financial year and in the immediately preceding financial year.

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



for Chakradhar & Nandan Chartered Accountants



Sd/- (K.S Nandan) Partner Membership No. 201123

Place: Hyderabad Date: 05.12.2012


Mar 31, 2010

01. We have audited Ihe attached Balance Sheet of M/s. Shreeyash Industries Limited, as at 31st March 2010 and also the annexed Profit & Loss Account of the Company for the year ended on that dale annexed thereto. These financial statements are responsibility of the Company Management. Our responsibility is the express an opinion on these financial statements based on our audit.

02. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes Examining, on a test basis, evidence supporting the presentation. We believe that our audit provides a reasonable basis for our opinion.

03. As reuuired by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of Sub-section (4A) 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 to the extent applicable,

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

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

b) In our opinion, the Company has kept proper books of account as required by law so far, as appears from our examination of those books.

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

d) In our opinion, the Profit & Loss Account and the Balance Sheet comply with the entire mandatory Accounting Standards referred to in Sub-section (3C) of Section 211 of the Companies Act, 1956.

e) On the basis of written representations received from the directors, and taken on record by the Board of Directors, in our opinion, none the directors is disqualified for the year ended on that date from being appointed as director in terms of clause (g) of Sub-section (1) Section 274 of Companies Act, 1956.

f) In our opinion and as per the our information and according to the explanation given to us, the said Balance Sheet and the Profit and Loss Account, read together with notes thereon, give the information required be 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 ihe case of ilie Balance Sheet, of the stale of affaire of the Company as at 31st March 2010;

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

iii) In the case of Cash Flow Statement, of the Cash Flows for the year ended on that date.

ANNEXURE TO AUDITORS REPORT (This is the Annexure referred to in our Report of even date)

1 The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The assets have been physically verified by the management during the period as per a 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.

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

3 The stocks of finished goods, raw materials and stores have been physically verified during the period by the management at reasonable intervals.

4 The procedures of physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

5 The discrepancies noticed on verification between the physical stocks and the book records were not material.

6 On the basis of examination of stock records, we are of the opinion that the valuation of stocks is fair and proper and in accordance with the normally accepted accounting principles and are on the same basis in the preceding year,

7 The Company has not granted any loans, secured or unsecured from companies, firms or other parties listed in the register maintained under section 301 of the companies Act, 1956. As per the information and explanation given to us there are no companies under the same management as defined under sub-section (1 -B) of section 3 70 of the said Act.

8 In our opinion and 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 with regard to purchase of stores, raw materials, including components, Plant & Machinery, equipment and other assets and with regard to the sale of goods.

9 The central Government has not prescribed the maintenance of cost records by the by the Company under section 209( 1) (d) of the Companies Act, 1956 for any its products.

10 In our opinion and according to the information and explanations given to us, there are no transactions of purchase of goods and materials or sale of goods and materials made by the Company in pursuance of contracts or arrangements entered in the registered maintained under Section 301 of the companies Act, 1956 aggregating during the year for Rs.50, 000 or more in respect of each party.

11 According to the information and explanations given to us, there are no unserviceable or damaged stores, raw materials or finished goods.

12 The Company has not accepted any deposits from the public.

13 The Company has not given any guarantee for loans taken by others from bank or financial institutions.

14 During the year No Operations Pi oduclion, so The Company does not get any scrap in the manufacturing processing, (hereby the maintenance of the records does arise. We are informed that the manufacturing Process of the Company does not give rise to any by-products.

15 The Company has no Internal Audit system.

16 During the financial year there were no transactions exceeding the value of five lakes rupees in respect of each parly, which need to be, entered into a registrar in pursuance of section 301 of the Companies,-ct, 1956.

17 The Provisions of provident fund Act and the Employees Sate Insurance Act is applicable to this Company and the Company is not made any payment during the year. Since there is no lab our exists.

18 According to the information and explanations given to us, no undisputed amounts applicable in respect of income Tax, Sales Tax, Custom Duty and Excise Duty were outstanding for a period of more than six months from the date they became payable. The Provisions of Wealth Tax Act do not applicable to this Company.

19 According to the information and explanation given to us, no personal expenses of employees or Directors have been charged to revenue account, other than that payable under contractual obligations.

20 The Company is a sick industrial Company within the meaning of clause (O) of Sub- Section 1 of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985.

for Chakradhar & Nandan Chartered Accountants

(K.S Nandan) Partner

Place: Hyderabad Date: 03.09.2010

 
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