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Auditor Report of Omkar Pharmachem Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Omkar Pharmachem Limited ("the Company") which com- prise the Balance Sheet as at 31st March, 2015, 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 and Board of Directors of the Company are responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ('the act') with respect to the preparation of these financial staten
Auditor's Responsibility:

Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in 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 and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those Standards and pronouncements require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements, that give a true and fair view, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company's management and Board of Directors, as well as evaluating the overall presentation of the financial statements

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion:

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2015, its loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements :

As required by the Companies (Auditor's Report) Order, 2015 issued by the Central Government of India in terms of sub- section (11) of section 143 of the Act (hereinafter referred to as the "Order"), and on the basis of such checks of toe 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 toe matters Specified in paragraphs 3 and 4 of the Order.

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

a) we have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;

c) the Balance Sheet, 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 applicable 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 March 31, 2015, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of Section 164(2) of the Act.

f) In our opinion and to the best of our information and according to the explanations given 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 litigations which would impact its financial position.

ii. The Company did not have any long-term contracts including derivative contracts; as such the question of commenting on any material foreseeable losses thereon does not arise.

iii. There has not been an 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 referred to in Our Report of even date to the members of Omkar Pharmachem Limited on the accounts of the company for the year ended 31st March, 2015,

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

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

(b) As explained to us, fixed assets have been physically verified by the management at regular intervals; as informed to us no material discrepancies were noticed on such verification;

ii. There was no inventory during the period

iij. The company has not granted any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 189 of the Act.

iv. 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, for the purchase of fixed assets and for the sale of 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, no major weakness has been noticed or reported.

v. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013

vi. As informed to us, the Central Government has not prescribed maintenance of cost records under sub-section (1) of Section 148 of the Act.

vii. (a According to the information and explanations given to us and based on the records of the company examined by us, the company is regular in depositing the undisputed statutory dues, including Provident Fund, Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material statutory dues, as applicable, with the appropriate authorities in India;

(b) According to the information and explanations given to us and based on the records of the company examined by us, there are no dues of Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise Duty which have not been deposited on account of any disputes.

(c) There has not been an 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 reporting delay in transferring such sums does not arise.

viii. Company does not have any accumulated losses, which are not less than fifty percent of its net worth.

ix. According to the records of the company examined by us and as per the information and explanations given to us, the company has not defaulted in repayment of dues to bank or financial institution. Further, Company has not issued any debentures.

x. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loan taken by others from a bank or financial institution during the year.

xi. In our opinion, and according to the information and explanations given to us, no term loan has been obtained by the Company.

xii. During the course of our examination of the books and records of the company, carried in accordance with the auditing standards generally accepted in India, we have neither come across any instance of fraud on or by the Company noticed or reported during the course of our audit nor have we been informed of any such instance by the Management.

For Rajesh J, Shah & Associates Chartered Accountants FRN 1084Q7W

(Rajesh J. Shah) Place : Ahmedabad Partner Date : 30th August, 2015 Mem. No. 040268




Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements Omkar Pharmachem Limited (''the company'')which comprise the Balance Sheet as at 31st March, 2013, and the Statement of Profit and Loss for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Company in accordance with the Accounting Standards referred to in sub- section (3C) of section 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementa- tion 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 ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement and the disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides reasonable basis for our opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India :

(a) in the case of Balance sheet, of the state of affairs of the company as at 31st March, 2013;

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

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

Report on Other Legal and Regulatory Requirements

1. As required by The Companies (Auditors'' Reports) Order, 2003("the order") issued by the Central Government of India and in terms of sub-section (4A) of section 227 of the Act, we give in the annexure a statement on the matters specified in paragraph 4 & 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 our knowledge and belief were necessary for the purpose of audit;

(b) In our opinion proper books of account as required by law have been kept by the company, so far as appears from our examination of those books;

(c) The Balance sheet and Statement of Profit and Loss dealt with by this report are in agreement with the books of account;

(d) In our opinionthe Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the accounting standard referred in sub-section 3C of Section 211 of the Act.

(e) on the basis of written representations received from the directors as on 31st March, 2013, and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2013 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

[Referred to in paragraph 1 under ''Report on Other Legal and Regulatory Requirements'' in the Independent Auditors'' Report of even date to the members of Omkar Pharmachem Limited on the financial statements for the year ended 31st March, 2013]

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

(b) As explained to us and on the basis of representations received from the management of the Company, the company has a land only in fixed asset, and so there is no question of any discrepancy.

(c) In our opinion the fixed assets disposed off during the year were not substantial and therefore do not affect the going concern assumption.

2) The Company does not hold any inventory and hence Clause 4(ii) (a), 4(ii) (b) and 4(H) (c) is not applicable to the Company.

3) The company has not granted any loan, secured or unsecured to companies, firms or other or other parties covered in the register maintained u/s. 301 of the companies Act, 1956. According to the information and explanations given to us, the company has taken loans from the parties mentioned in the register maintained u/s. 301 of the companies Act, 1956 at a terms which are not prejudicial to the interest of the company and there is no stipulation for repayment and hence there is no overdue amount outstanding.

4) In our opinion and according to the information and explanations given to us, the company has adequate internal control systems commensurate with the size of the company and the nature of its business with regard to purchase of inventory, fixed assets and for sale of goods. Further, on the basis of our examination and according to information and explanations given to us, we have neither come across nor we have been informed of any instances of continuing weaknesses in the internal control systems.

5) In our opinion and according to the information and explanations given to us, there are no transactions of purchase of goods and materials and sale of goods and material and services in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year Rs. 5,00,000 or more.

6) In our opinion and according to the information and explanations given to us, the company has not invited any deposits from the public for which provision of section 58-A of the Companies Act, 1956 and its are applicable.

7) The company has no internal audit system.

8) As explained to us, maintenance of cost records u/s. 209(1 )(d) of the Companies Act, 1956 has not been prescribed by the Central Government.

9) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty, cess and other material * statutory dues applicable to it.

j (b) According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, income-tax, wealthtax, service tax, sales-tax, customs duty, excise duty, cess and other undis- puted statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable.

10) In our opinion, the accumulated losses of the company are not more than fifty percent of its net worth. Further, the company has incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

11) The company has not taken any loan from financial institutions or banks nor issued any debenture during the year and hence provisions of clause 4(xi) of Companies (Auditors Report) Order, 2003 are not applicable to the company

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

13) The company is not a chit or a nidhi/mutual benefit fund/society, therefore, the clause 4(xiii) of Companies (Auditor''s Report) Order, 2003 is not applicable to the company.

14) In our opinion and according to the information, explanations and representations given to us, the company is not a dealer or trader in securities, therefore, the clause 4 (xiv) of Companies (Auditor''s Report) Order, 2003 is not applicable to the company.

15) According to the information and explanations given to us, and the representations made by the management, the company has not given any guarantee for loans taken by others from any bank or financial institutions.

16) The company has not obtained any term loans during year. Therefore, the clause 4 (xvi) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

17) According to the information and explanations given to us and on an over all examination of balance sheet and cash flow of the company, we report that no funds raised on short-term basis have been used for long-term investment.

18) According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956 during the year.

19) According to the information and explanations given to us, the Company has not issued any debentures and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the Company.

20) According to the information and explanations given to us, the Company has not raised any money by public issue during the year and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

21) According to the information and explanations given to us, and to the best of our knowledge and belief no fraud on or by the Company, has been noticed or reported during the course of our audit.

For, Mitesh P. Vora & Co.

Chartered Accountants

FRN 116071W

Place : Ahmedabad (Mitesh P. Vora)

Date : 31s'' May, 2013 Partner

Mem. No. 37530


Mar 31, 2012

1. We have audited the attached Balancesheet of Omkar Pharmachem Limited as at 31s March, 2012 and also the annexed Statement of Profit and Loss and the Cash Flow Statement for the year ended on that date. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with auditing standard 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 amount and the disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides reasonable basis for our opinion.

3. As required by The Companies (Auditors' Reports) Order, 2003 issued by the Central Government of India and in terms of section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and according to information and explanations given to us, we further report that:

i) (a) The company has generally maintained proper records showing full particulars, including quantitative details and situation of fixed assets, (b) As explained to us and on the basis of representations received from the management of the Company, the company has a land only in fixed asset, and so there is no question of ant discrepancy, (c) The company has not disposed off any fixed assets during the year and hence the provision of clause 4(i)(c) of The Companies (Auditors Report) Order, 2003 is not applicable to the company.

ii) The company has no inventory during the year and hence the provision of clause 4(ii) of The Companies (Auditors Report) Order, 2003 are not applicable to the company.

iii) According to the information and explanations given to us, the Company has neither granted nor taken any loans, secured or unsecured from the companies, firm or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Consequently the provisions of clause 4(ii) of The Compa- nies (Auditors Report) Order, 2003 are not applicable to the company.

iv) On the basis of appropriate audit procedure followed by us and in terms of the information and explanations given to us, there is no purchase of inventory, fixed assets or sale of goods during the year under audit.

v) There were no transactions of purchase of goods and materials and sale of goods and material and services in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year Rs. 5,00,000 or more.

vi) In our opinion and according to the information and explanations given to us, the company has not invited « any deposits from the public for which provision of section 58-A of the Companies Act, 1956 and its Rules ' are applicable.

vii) The company has no internal audit system.

viii) As explained to us, maintenance of cost records under Section 209(1 )(d) of the Companies Act, 1956 has not been prescribed by the Central Government.

ix) (a) According to the records of the Company, it has been regular in depositing undisputed statutory dues including, Income tax, Sales tax, Excise Duty and other Statutory dues with the appropriate authorities, (b) As explained to us, and on the basis of our examination of the records, there are no disputed statutory dues pending before any authorities.

x) The accumulated losses of the Company are not more than fifty percent of its net worth. The company has incurred cash losses in the financial year under review and in the immediately preceding financial year.

xi) The company has not taken any loan from financial institutions or banks nor issued any debenture during the year and hence provisions of clause 4(xi) of Companies (Auditors Report) Order, 2003 are not applicable to the company.

xii) As explained to us, the Company has not granted any loans or advances on the basis of security by way of pledge of share, debentures or any other securities and hence provisions of clause 4(xii) of Companies (Auditors Report) Order, 2003 are not applicable to the company.

xiii) The company is not a chit or a nidhi/mutual benefit fund/society, therefore, the clause 4(xiii) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xiv) In our opinion and according to the information, explanations and representations given to us, the company is not a dealer or trader in securities, therefore, the clause 4(xiv) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xv) According to the information and explanations given to us, and the representations made by the manage- ment, the company has not given any guarantee for loans taken by others from any bank or financial institutions,

xvi) The company has not obtained any term loans. Therefore, the clause 4(xvi) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xvii) According to the information and explanations given to us and on an over all examination of balance sheet and cash flow of the company, we report that no funds raised on short-term basis have been used for long- term investment.

xviii) According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

xix) According to the information and explanations given to us, the Company has not issued any debentures and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the Company.

xx) According to the information and explanations given to us, the Company has not raised any money by public issue during the year and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xxi) According to the information and explanations given to us, and to the best of our knowledge and belief no fraud on or by the Company, has been noticed or reported during the course of our audit.

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

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

(d) In our opinion the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the accounting standard referred in Sec.211 (3C) of the Companies Act, 1956.

(e) On the basis of the written representation received from the directors, as on 31s March, 2012 and taken on record by the Board of directors, none of the directors is disqualified as on 31s March, 2012 from being appointed as a director in terms of Section 274(1)(g) of the companies Act,1956.

(f) In our opinion and to the best of our information and accounting to the explanations given to us the Balance Sheet and Statement of Profit and Loss read together with significant accounting policies and notes to accounts thereon and attached thereto 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 the case of Balance sheet of the state of affairs of the company as at 31s March, 2012 ;

(b) in the case of Statement of Profit and Loss, of the profit or loss 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.

For, Mitesh P. Vora & Co.

Chartered Accountants

FRN 116071W

Place : Ahmedabad (Mitesh P. Vora)

Date : 31st May, 2012 Partner

Mem. No. 37530


Mar 31, 2010

1. We have audited the attached Balance Sheet of Omkar Pharmachem Limited as at 31s March, 2010 and also the annexed Profit and Loss account and the Cash Flow Statement for the year ended on that date. 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 auditing standard 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 amount and the disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides reasonable basis for our opinion.

3. As required by The Companies (Auditors Reports) Order, 2003 issued by the Central Government of India and in terms of section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and according to information and explanations given to us, we further report that:

i) (a) The company has generally maintained proper records showing full particulars, including quantitativr details and situation of fixed assets, (b) As explained to us and on the basis of representations receivec from the management of the Company, the company has a land only in fixed asset, and so there is no question of ant discrepancy, (c) The company has not disposed off any fixed assets during the year and hence the provision of clause 4(i)(c) of The Companies (Auditors Report) Order,2003 is not applicable to the company.

ii) The company has no inventory during the year and hence the provision of clause 4(H) of The Companies (Auditors Report) Order, 2003 are not applicable to the company.

iii) According to the information and explanations given to us, the Company has neither granted nor taken any loans, secured or unsecured from the companies,_firm or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Consequently the provisions of clause 4(ii) of The Companies (Auditors Report) Order, 2003 are not applicable to the company.

iv) On the basis of appropriate audit procedure followed by us and in terms of the information and explanations given to us, there is no purchase of inventory, fixed assets or sale of goods during the year under audit.

v) There were no transactions of purchase of goods and materials and sale of goods and material and services in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year Rs. 5,00,000 or more.

vi) In our opinion and according to the information and explanations given to us, the company has not invited any deposits from the public for which provision of section 58-A of the Companies Act, 1956 and its Rules are applicable.

vii) The company has no internal audit system.

viii) As explained to us, maintenance of cost records under Section 209(1)(d) of the CompaniesAct,1956 has not been prescribed by the Central Government.

ix) (a) According to the records of the Company, it has been regular in depositing undisputed statutory dues including, Income tax, Sales tax, Excise Duty and other Statutory dues with the appropriate authorities, (b) As explained to us, and on the basis of our examination of the records, there are no disputed statutory dues pending before any authorities.

x) The accumulated losses of the Company are not more than fifty percent of its net worth. The company has incurred cash losses in the financial year under review and in the immediately preceding financial year.

xi) The company has not taken any loan from financial institutions or banks nor issued any debenture during the year and hence provisions of clause 4(xi) of Companies (Auditors Report) Order, 2003 are not applicable to the company.

xii) As explained to us, the Company has not granted any loans or advances on the basis of security by way of pledge of share, debentures or any other securities and hence provisions of clause 4(xii) of Companies (Auditors Report) Order, 2003 are not applicable to the company.

xiii) The company is not a chit or a nidhi/mutual benefit fund/society, therefore, the clause 4(xiii) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xiv) In our opinion and according to the information, explanations and representations given to us, the company is not a dealer or trader in securities, therefore, the clause 4(xiv) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xv) According to the information and explanations given to us, and the representations made by the manage- ment, the company has not given any guarantee for loans taken by others from any bank or financial institutions.

xvi) The company has not obtained any term loans. Therefore, the clause 4(xvi) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xvii) According to the information and explanations given to us and on an over all examination of balance sheet and cash flow of the company, we report that no funds raised on short-term basis have been used for long- term investment.

xviii) According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

xix) According to the information and explanations given to us, the Company has not issued any debentures and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the Company.

xx) According to the information and explanations given to us, the Company has not raised any money by public issue during the year and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xxi) According to the information and explanations given to us, and to the best of our knowledge and belief no fraud on or by the Company, has been noticed or reported during the course of our audit.

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

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

(d) In our opinion the Balance Sheet, Profit and Loss account and Cash Flow Statement comply with the accounting standard referred in Sec.211 (3C) of the Companies Act, 1956.

(e) On the basis of the written representation received from the directors, as on 31$ March, 2010 and taken on record by the Board of directors, none of the directors is disqualified as on 31$t March, 2010 from being appointed as a director in terms of Section 274(1 )(g) of the companies Act, 1956.

(f) In our opinion and to the best of our information and accounting to the explanations given to us the Balance Sheet and Profit and Loss Account read together with significant accounting policies and notes to accounts thereon and attached thereto 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 the case of Balance sheet of the state of affairs of the company as at 31st March,2010;

(b) in the case of Profit and loss account, of the profit or loss 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.

Place : Ahmedabad For Mitesh P. Vora & Co..

Date : 31st May, 2010 F.R.N. No. 116071W

Chartered Accountants

(Mitesh P. Vora)

Partner


Mar 31, 2009

1. We have audited the attached Balance Sheet of Omkar Pharmachem Limited as at 31st March, 2009 and also the annexed Profit*and Loss account and the Cash Flow Statement for the year ended on that date. 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 auditing standard 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 amount and the disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides reasonable basis for our opinion.

3. As required by The Companies (Auditors Reports) Order, 2003 issued by the Central Government of India and in terms of section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate and according to information and explanations given to us, we further report that:

i) (a) The company has generally maintained proper records showing full particulars, including quantitative details and situation of fixed assets, (b) As explained to us and on the basis of representations received from the management of the Company, the company has a land only in fixed asset, and so there is no question of ant discrepancy, (c) The company has not disposed off any fixed assets during the year and hence the provision of clause 4(i)(c) of The Companies (Auditors Report) Order, 2003 is not applicable to the company.

ii) The company has no inventory during the year and hence the provision of clause 4(ii) of The Companies (Auditors Report) Order, 2003 are not applicable to the company.

iii) According to the information and explanations given to us, the Company has neither granted nor taken any loans, secured or unsecured from the companies, firm or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Consequently the provisions of clause 4(ii) of The Companies (Auditors Report) Order, 2003 are not applicable to the company.

iv) On the basis of appropriate audit procedure followed by us and in terms of the information and explanations given to us, there is no purchase of inventory, fixed assets or sale of goods during the year under audit.

v) There were no transactions of purchase of goods and materials and sale of goods and material and services in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year Rs. 5,00,000 or more.

vi) In our opinion and according to the information and explanations given to us, the company has not invited any deposits from the public for which provision of section 58-A of the Companies Act, 1956 and its Rules are applicable.

vii) The company has no internal audit system.

viii) As explained to us, maintenance of cost records under Section 209(1)(d) of the CompaniesAct,1956 has not been prescribed by the Central Government.

ix) (a) According to the records of the Company, it has been regular in depositing undisputed statutory dues including, Income tax, Sales tax, Excise Duty and other Statutory dues with the appropriate authorities, (b) As explained to us, and on the basis of our examination of the records, there are no disputed statutory dues pending before any authorities.

x) The accumulated losses of the Company are not more than fifty percent of its net worth. The company has incurred cash losses in the financial year under review and in the immediately preceding financial year.

xi) The company has not taken any loan from financial institutions or banks nor issued any debenture during the year and hence provisions of clause 4(xi) of Companies (Auditors Report) Order, 2003 are not applicable to the company.

xii) As explained to us, the Company has not granted any loans or advances on the basis of security by way of pledge of share, debentures or any other securities and hence provisions of clause 4(xii) of Companies (Auditors Report) Order, 2003 are not applicable to the company.

xiii) . The company is not a chit or a nidhi/mutua! benefit fund/society, therefore, the clause 4(xiii) o Companies (Auditors Report) Order, 2003 is not applicable to the company.

xiv) In our opinion and according to the information, explanations and representations given to us, the company is not a dealer or trader in securities, therefore, the clause 4(xiv) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

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

xvi) The company has not obtained any term loans. Therefore, the clause 4(xvi) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xvii) According to the information and explanations given to us and on an over all examination of balance sheet and cash flow of the company, we report that no funds raised on short-term basis have been used for long-term investment.

xviii) According to the information and explanations given to us, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

xix) According to the information and explanations given to us, the Company has not issued any debentures and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the Company.

xx) According to the information and explanations given to us, the Company has not raised any money by public issue during the year and hence clause 4(xix) of Companies (Auditors Report) Order, 2003 is not applicable to the company.

xxi) According to the information and explanations given to us, and to the best of our knowledge and belief no fraud on or by the Company, has been noticed or reported during the course of our audit.

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

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

(d) In our opinion the Balance Sheet, Profit and Loss account and Cash Flow Statement comply with the accounting standard referred in Sec.211 (3C) of the Companies Act, 1956.

(e) On the basis of the written representation received from the directors, as on 31st March, 2009and taken on record by the Board of directors, none of the directors is disqualified as on 31st March, 2009 from being appointed as a director in terms of Section 274(1 )(g) of the companies Act,1956.

(f) In our opinion and to the best of our information and accounting to the explanations given to us the Balance Sheet and Profit and Loss Account read together with significant accounting policies and notes to accounts thereon and attached thereto 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 the case of Balance sheet of the state of affairs of the company as at 31st March,2009;

(b) in the case of Profit and loss account, of the profit or loss 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.

Ahmedabad FOR MITESH P. VORA & CO.

Dated 30th June, 2009 Chartered Accountants

(MITESH P. VORA)

Proprietor




Mar 31, 2003

We have audited the attach Balance Sheet of OMKAR PHARMACHEM LIMITED as at 31 st March,2003 and also the annexed Profit and Loss account for the year ended on that date annexed thereto. These financial statments are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standard generally accepted in India. Those standerds 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 the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides reasonable basis for our opinion.

1. As required by the Manufacturing and Other Companies (Auditors Reports) Order, 1988, issued by the Company Law Board and terms and section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered approriate, we enclose in the Annexure a statement on the matters specified in paragraph 4 & 5 of the said order.

2. Further to our comments in the annexure reffered to in the paragraph 1. above, we state that:

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

(b) In our opinion proper books of account as required by low have been kept by the company, so far as appears from our examination of those books.

(c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books and account.

(d) In our openion the profit and loss account and balancesheet comply with the accounting standard reffered in Sec.211 (3C) of the Companies Act, 1956.

(e) In our opinion and as per the information and according to the explanations given to us and taken on record by the Board of Directors, we report that no director is disqualified as on 31st March, 2003 from being appointed as a director in terms of Section 274(1)(g) of the Companies Act, 1956.

(f) In our opinion and to the best of our infromation and according to the explanations given to us the Balance Sheet and Profit and Loss Account read together with significant accounting policies and notes to accounts thereon and attached thereto 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 on India:

(i) in the case of Balance sheet of the state of affairs of the company as at 31st March, 2003 and

(ii) in the case of profit and loss account of the profit or loss of the company for the year ended on that date.

ANNEXURE TO AUDITORS REPORT

1. The company has maintained proper records including quantitative details and situation of fixed assets. According to the information and explanations given to us, fixed assets were pysically verified by the management during the year and no material discrepancies were noticed on such verfication as compared to the available records.ln our openion,the frequency of such verification is reasonable having regard to the size of the company and nature of the business.

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

3. There is no stock of finished goods, stores, spare-parts and raw-material during the year so no comments for its verification, valuation etc. given.

4. The rate of interest and terms and conditions of the unsecured loans taken by the company are not prima facie prejudicial to the interest of the company.

5. The company had not granted any loans to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 or to companies under the same management as defined under section 370(1B) of the Companies Act, 1956.

6. In respect of loans and advances in the nature of loans given by the company, there is no stipulation for repayment and so we can not give openion regarding repayment of the principal amounts as stipulated. No interest is charged/debited on the loans or advances given.

7 In our openion and according to the information and explanation given to us there are adequate internal control procedures commensurate with the size of the company and nature of its business with regard to the purchase of stores, raw materials, components, plant & machinery, equipement and other assets and with regard to the sale of goods.

8. According to information given to us, the company has not entered into any transactions for purchase of goods and material and sale of goods, material and service aggregating during the year to Rs. 50000 or more in respect of each party, in pursuance of contracts or arrangements, as listed in register maintained under section 301 of the Companies Act,1956.

9. The company has not accepted any deposit from the public during the year.

10. There are no by-products and scraps.

11. Considering the scope of work of the company, the company does not require any internal audit system.

12. We have been informed that the central government has not prescribed maintainance of cost records in respect of the company under section 209(1)(d)of the Companies Act, 1956.

13. As explained to us provident Fund Act and Employees State Insurance Act are yet not applicable to the company.

14. According to the information and explanation given to us and the books and records examined by us, there are no undisputed amount payable in respect of income-tax, sales tax, customs duty outstanding as at 31st march,2003 for a period exceeding six months from the date they become payable.

15. According to the information and explanations given to us, no personal expenses of employees or directors have been charged to revenue account,other than those payable under contructual obligations or in accordance with generally accepted business practices.

16. The company is not a sick industrial company within the meaning of clause (o) of subsection (1) of section 3 of the Sick Industrial Companies (Special Provision) Act, 1985.

FOR MITESH P. VORA & CO. Chartered Accountants

Sd/- MITESH P. VORA Proprietor

Ahmedabad Date:31st August, 2003


Mar 31, 2002

We have audited the attached Balance Sheet of OMKAR PHARMACHEM LIMITED as at 31st March, 2002 and also the annexed Profit and Loss account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an ioinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standard generally accepted in India. Those standerds 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 statement. An audit also includes assessing the accounting priciples used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides reasobnable basis for our opinon.

1. As required by the Manufacturing and Other Companies (Auditors Reports) Order, 1988 issued by the Company Law Board in terms and section 227 (4A) of the Com- panies Act, 1956 and on the basis of such checks as we considered appropriate, we enclose in the Annexure a statement on the matters specified in paragraph 4 & 5 of the said order.

2. Further to our comments in the annexure reffered to in the paragraph 1. above, we state that :

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

(b) In our opinion proper books of account as required by law have been kept by the compnay, so far as appears from our examination of those books.

(c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books and account.

(d) In our openion the profit and loss account and balance sheet comply with the accounting standard reffered in Sec. 211 (3C) of the Companies Act, 1956.

(e) In our opinion and as per the information and according to the explanations given to us and taken on record by the Board of Directors, we report that no director is disqualified as on 31st March, 2002 from being appointed as a director in terms of Section 274 (1) (g) 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 Balance Sheet and Profit and Loss Account read together with significant accounting policies and notes to accounts thereon and attached thereto 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 priciples generally accepted in India :

(i) in the case of Balance sheet of the state of affairs of the company as at 31st March, 2002 and

(ii) in the case of profit and loss account of the profit or loss of the company for the year ended on that date.

ANNEXURETO AUDITORS REPORT OF OMKAR PHARMACHEM LIMITED YEAR ENDED ON 31/3/2002 1. The company has maintained proper records including quantitative details and situa- tion of fixed assets. According to the information and explanations given to us, fixed assets were pysically verified by the management during the year and no material discrepancies were noticed on such verfication as compared to the available records. In our openion, the frequency of such verification is reasonable having regard to the size of the company and nature of the business.

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

3. There is no stock of finished goods, stores, spare-parts and raw-material during the year so no comments for its verification, valuation etc. given.

4. The rate of interest and terms and conditions of the unsecured loans taken by the company are not prima facie prejudicial to the interst of the company.

5. The Company had not granted any loans to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 or to companies under the same management as defined under section 370 (1B) of the Companies Act, 1956.

6. In respect of loans and advances in the nature of loans given by the company, there is no stipulation for repayment and so we can not give openion regarding repayment of the principal amounts as stipulated no interest is charged / debited on the loans or advances given.

7. In our openion and according to the information and explanation given to us there are adequate internal control procedures commensurate with the size of the company and nature of its business with regard to the purchase of stores, raw materials, components, plant & machinery, equipement and other assets and with regard to the sale of goods.

8. According to information given to us, the company has not entered into any transac- tions for purchase of goods and material and sale of goods, material and service aggregating during the year to Rs. 50000/- or more in respect of each party, in pursu- ance of contracts or arrangements, as listed in register maintained under section 301 of the Companies Act, 1956.

9. The company has not accepted any deposit from the public during the year.

10. There are no by - products and scraps.

11. Considering the scope of work of the company, the company does not require any internal audit system.

12. We have been informed that the central goverment has not prescribed maintainance of cost records in respect of the company under section 209 (1) (d) of the Companies Act, 1956.

13. As explained to us Provident Fund Act and Employees State Insurance Act are yet not applicable to the company.

14. According to the information and explanation given to us and the books and records examined by us, there are no undisputed amount payable in respect of income - tax, sales tax, customs duty outstanding as at 31st march, 2002 for a period exceeding six months from the date they become payable except an addition made by Income tax department appeal result of which has come infavour of the company before finanlisation of the audit.

15. According to the information and explanations given to us, no personal expenses of employees or directors have been charged to revenue account, other than those pay- able under contractual obligations or in accordance with generally accepted busi- ness practices.

16. the company is not a sick industrial company within the meaning of clause (o) of subsection (1) of section 3 of the Sick Industrial Companies (Special Provision) Act, 1985.



For MITIESH P. VORA & CO. Chartered Accountants

Sd/-

Mitesh P. Vora Proprietor.

Ahemdabad Date : 31st August, 2002

 
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