Auditor Report of Vasudhagama Enterprises Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Ozone World Ltd.(the Company), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit & 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 theFinancial Statements :

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and fair presentation of the financial statements that gives true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility :

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and 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 gives 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 the Company's Directors, as well as evaluating the overall presentation of the financial statements.

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

Opinion :

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

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

(b) in the case of the statement of Profit and Loss, of the profit / 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.

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 Companies Act, 2013, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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

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

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

c. The Balance Sheet, the Statement of Profit & Loss and Cash Flow statement dealt with by this Report are in agreement with the books of account;

d. In our opinion, the Balance Sheet, Statement of Profit & Loss, and Cash Flow Statement 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 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 Companies Act, 2013.

f. With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules,2014, in our opinion and to the best of our information and according to the explanations given to us:

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

ii. Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

Annexure to the Auditors' Report

The Annexure referred to in our report to the members of Ozone World Ltd. for the year Ended on 31st March, 2015. We report that :

(i) a) The company is maintaining proper records showing full particulars, including quantitative details and situa- tion of fixed assets.

b) The fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on such verification.

(ii) (a), (b) & (c) : As the company does not have any inventory, the question of physical verification, procedure of physical verification or maintaining proper records of inventory do notarise.

(iii) a) The company has granted loans to the parties covered in the register maintained under section 189 of the Companies Act' 2013. In respect of said loan, the maximum amount outstanding at any time during the year was Rs. 20,23,16,872 and the year-end balance is Rs. 17,06,30,436.

b) The receipt of the principal amount and interest are also regular.

c) No amount is overdue.

(iv) There is an adequate internal control system commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and for sale of goods and services. There is no continuing failure to correct major weaknesses, if any in internal control system.

(v) The company has not accepted deposits within the meaning of sections 73 to 76 of the Act and rules framed there under.

(vi) The central government has not prescribed maintenance of cost records under sub-section (1) of section 148 of the Companies Act, 2013.

(vii) (a) & (b) : The company is regular in depositing undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, value added tax, cess and any other statutory dues, where applicable; with the appropriate authorities.

(c) The Company is not required to transfer any amount to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 2013.

(vii) The company does not have any accumulated losses. Also, the company has not incurred any cash loss during the financial year under report or in the immediately preceding financial year.

(ix) As the company has not taken any loans from financial institutions or banks or issued any debentures, there is no question of default in repayment of dues.

(x) The company has not given any guarantees for loans taken by others from bank or financial institutions.

(xi) The company has not taken any term loan.

(xii) No fraud on or by the company has been noticed or reported during the year.

For, S.D. Mehta & Co. Chartered Accountants

Shaishav D. Mehta Place : Ahmedabad Partner Date : 28/05/2015 M. No. 32891

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Mar 31, 2014

We have audited the accompanying financial statements of Ozone World Limited (Formely Anand Lease and Finance Limited) ("the Company"), which comprise the Balance Sheet as at 31st March, 2014, 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 :

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act")read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance forming an opinion and reporting on financial statements of internal control relevant to the preparation and presentation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility :

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion :

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

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2014;

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

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

Report on Other Legal and Regulatory Requirements :

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

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

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

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

c. the Balance Sheet, Statement of Profit and Loss and Cash Flow statement dealt with by this Report are in agreement with the books of account;

d. in our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013;

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

f. Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

Annexure To Auditors' Report (Referred to in of our report of even date)

1. (a) The Company is maintaining proper records showing full particulars including quantitative details and situa- tion of fixed Assets.

(b) The fixed assets have been physically verified by the management at reasonable intervals. No material Discrepancies were noticed on such verification

(c) In our opinion and according to the information and explanations given to us,none of the fixed assets have not been disposed of by the company during the year.

2. (a) Physical verification of the inventory has been conducted at reasonable intervals by the management;

(b) Procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to size of the company and the nature of business.

(c) Proper records regarding the inventories have been kept by the company.

3. (a) In respect of loans, secured or unsecured, granted by the Company to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956:

(i) The company has granted unsecured loan to one company. In respect of said loan, the maximum amount outstanding at any time during the year was Rs.9,25,25,798 and the year-end balance is Rs. 5,65,66,872.

(ii) In our opinion and according to the information and explanations given to us, the rate of interest and other terms and conditions of the loans granted by the company, are not prima facie prejudicial to the interest of the Company.

(iii) The terms of repayment of principal amount is on demand and interest is payable regularly.

(iv) In respect of the said loan and interest thereon, there is no overdue amount.

4. There is an adequate internal control system 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. There is no continuing failure to correct major weaknesses, in internal control system.

5. a) The particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register required to be maintained under that section.

b) The company informs us that the transactions made in pursuance of such contracts or arrangement have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The company has not accepted deposits from the public in terms of section 58A and 58AA of the Companies Act, 1956 and the rules framed there under. Therefore, reporting requirements as per clause (VI) of paragraph 4 of the Order are not applicable in case of the Company.

7. The company has an internal audit system commensurate with its size and nature of its business.

8. The central government has not prescribed maintenance of cost records under clause (d) of sub section (1) of section 209 of the Companies Acct, 1956 for this company.

9. a) The company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund; Employees'State Insurance, Income Tax, Sales Tax, Service Tax, Cess and other statutory dues, where applicable; with the appropriate authorities.

b) There has been no dispute in respect of Income Tax, Sales Tax, Service Tax, and Cess.

10. The company does not have any accumulated losses. It has not incurred any cash loss during the financial year under report.

11. As the company has not taken any loans from financial institutions or banks, there is no question of regularity of repayment.

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

13. The provisions of special statute applicable to chit fund/ nidhi/ mutual benefit fund/societies are not applicable to the company

14. The company is not dealing or trading of shares, securities, debentures and other investments and accordingly, the reporting requirements as per clause (xiv) of the order are not applicable to the Company.

15. The company has not given any guarantees for loans taken by others from bank or financial institutions.

16. The company has not taken any term loans during the year.

17. No funds raised on short-term basis have been used for long term investment.

18. During the year, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

19. During the year, the company has not issued any debentures.

20. During the year, the company has not raised any money by public issue.

21. No fraud on or by the company has been noticed or reported during the year.

For S. D. Mehta & Co. Chartered Accountants Firm Registration Number :137193W

Place : Ahmedabad Date : 30th May, 2014

Shaishav Mehta Partner Membership No. 32891

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Mar 31, 2013

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

Management's Responsibility for the Financial Statements :

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and maintenance forming an opinion and reporting on Financial Statements 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.

Auditor's Responsibility :

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion :

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

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2013;

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

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

Report on Other Legal and Regulatory Requirements :

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

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

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

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

c. the Balance Sheet, Statement of Profit and Loss and Cash Flow statement dealt with by this Report are in agreement with the books of account;

d. in our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

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

f. Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

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

(b) The fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, none of the fixed assets have been disposed of by the company during the year.

2. (a) Physical verification of the inventory has been conducted at reasonable intervals by the management.

(b) Procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to size of the company and the nature of business.

(c) Proper records regarding the inventories have been kept by the company.

3. (a) The company has not granted any loans to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Consequently, reporting requirements as per clauses (iii)(a) to (iii)(d) of paragraph 4 of the Order relating to rate of interest, terms and conditions, receipt of principal amount & interest and overdue amount are not applicable to the Company.

(b) The Company has not taken any unsecured loans from parties covered in the register maintained under section 301 of the Companies Act, 1956.

(c) The rate of interest and other terms & condition of the loan taken by the company are prima facie not prejudicial to the interest of the company.

4. There is an adequate internal control system 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. There is no continuing failure to correct major weaknesses, in internal control system.

5. (a) The particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register required to be maintained under that section.

(b) The company informs us that the transactions made in pursuance of such contracts or arrangement have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The company has not accepted deposits from the public in terms of section 58A and 58AA of the Companies Act, 1956 and the rules framed there under. Therefore, reporting requirements as per clause (VI) of paragraph 4 of the Order are not applicable in case of the Company.

7. The company has an internal audit system commensurate with its size and nature of its business.

8. The central government has not prescribed maintenance of cost records under clause (d) of sub section (1) of section 209 of the Companies Act, 1956.

9. (a) The company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other statutory dues, where applicable, with the appropriate authorities.

(b) There has been no dispute in respect of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise duty and Cess, wherever applicable.

10. The company does not have any accumulated losses. It has not incurred any cash loss during the financial year under report.

11. As the company has not taken any loans from financial institutions or banks, there is no question of regularity of repayment.

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

13. The provisions of special statute applicable to chit fund/ nidhi/ mutual benefit fund/societies are not applicable to the company.

14. The company is not dealing or trading of shares, securities, debentures and other investments and accordingly, the reporting requirements as per clause (xiv) of the order are not applicable to the company.

15. The company has not given any guarantees for loans taken by others from bank or financial institutions.

16. The company has not taken any term loans during the year.

17. No funds raised on short-term basis have been used for long term investment.

18. During the year, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

19. During the year, the company has not issued any debentures.

20. During the year, the company has not raised any money by public issue.

21. No fraud on or by the company has been noticed or reported during the year.

For S. D. Mehta & Co.

Chartered Accountants

Place : Ahmedabad Shaishav Mehta

Date : 30th May, 2013 Proprietor

Membership No. 32891