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Auditor Report of Pacheli Industrial Finance Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of DHOOT INDUSTRIES LIMITED ("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 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 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 effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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 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 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 said accounts together with the notes thereon give the information required by the Companies Act, 2013, in the manner so required for the companies and give a true and fair view in conformity with the accounting principles generally accepted in India:

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

b) in the case of the Profit and Loss Account 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

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 our best of our information and according to the explanations given to us:

i. As per information and explanation provided, company doesn't have any pending

litigation that could affect the fairness of the financial statement.

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 Investor Education and

Protection Fund

Annexure to the auditor's report To the Members of Dhoot Industries Limited

Referred to in paragraph 3 and 4 of our report of even date

(i) The Company has no fixed assets hence the said clause is not applicable to the company.

(ii) The Company does not deal in any goods therefore the said clause is not applicable to the company.

(iii) The Company during the period has not granted any loans to parties listed in the register maintained under section 189 of the Companies Act, 2013. Therefore, the provisions of the said clause are not applicable to the Company.

(iv) In our opinion and according to the information and explanations given to us, there exist an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to its business activities. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal controls.

(v) According to the information and explanation given to us, the company has not accepted any deposits from the public. Therefore, the provisions of said clause are not applicable to the Company.

(vi) As explained to us the requirement of maintenance of cost records under section 148(1) (d) of the Companies Act, 2013 does not apply to the company.

(vii) In respect of statutory dues:

(a) According to the records of the Company, undisputed statutory dues including Provident Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, duty of Customs, Duty of Excise, Value Added Tax, Cess and other material statutory dues have been generally regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at March 31, 2015 for a period of more than six months from the date of becoming payable.

(b) According to the information and explanations given to us, no disputed amounts payable in respect of the dues of Income Tax, Sales Tax, Wealth Tax, Service Tax, Duty of Excise, Value Added Tax, Cess were outstanding as at March 31, 2015.

(c) According to the information and explanations given to us, the Company does not require to transfer funds to Investor Education and Protection Fund.

(viii) The company has no accumulated losses as at March 31, 2015. Hence the said clause is not applicable.

(ix) According to the information and explanations given to us, the Company has not defaulted in any repayment to a financial institution, bank or debenture holders & therefore the said clause relating to maintenance of documents and records is not applicable.

(x) According to the information and explanations given to us, the Company has not given guarantee for loans taken by others from banks or financial institutions.

(xi) Company has not obtained term loan secured. Thus, said clause is not applicable.

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

FOR SHYAM C. AGARWAL & CO. CHARTERTD ACCOUNTANTS F.R. No. 110243W

Sd/- SHYAM C. AGARWAL (PROPRIETOR) M. NO. 31774

PLACE: MUMBAI DATE: 30.05.2015


Mar 31, 2014

We have audited the accompanying financial statements of DHOOT INDUSTRIES LTD., which comprise the Balance Sheet as at March 31,2014, and the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility

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 (3Q of section 211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error..

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 file 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 (he financial statements.

Annexure to the auditor''s report of DHOOT INDUSTRIES LIMITED

Referred to in paragraph 3 of our report of even date 4(i) The Company have no fixed assets, hence the said clause is not applicable. ‘

4(ii) The Company have no inventory, hence the said clause is not applicable.

4(iii)(a) The Company during the period has granted Interest loans to parties listed in the register maintained under section 301 of the Companies Act, 1956.

(b) In the Opinion of the Management, the interest rate & other terms and conditions of such loan are not, is prima facie, prejudicial to the interest of the Company.

(c) There is no Stipulation as to the Period of repayment.

(d) Thus, We are unable to Comment on regularity Of repayment St overdue . amount as there is no stipulation for the same.

(e) The Company had taken loans from parties listed in the register maintained under section 301 of the Companies Act, 1956.

(f) In the opinion of management, interest rate and the other terms St Condition on which loans have been taken from parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the company.

(g) As there is no stipulation for repayment of loan, we are unable to comment on regularity on repayment.

4(iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and die nature of its business. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the company.

4(v)(a) According to die information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, there are no transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Act.

4(vi) In our opinion and according to information and explanations given to us, the Company has not accepted deposits from the Director and public within the meaning of section 58A of the Companies Act, 1956 and the rules framed there under are not applicable. .

4(vii) In our opinion, the company has an internal audit system according to its size and nature of its business.

4(viii) The Central Government has not prescribed maintenance of cost records under section 209(l)(d) of the Companies Act, 1956 for any of the activities of the Company. ''

4(ix)(a) According to information and explanation given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax, service tax and other material statutory dues applicable to it which are outstanding for more than Six months from the date they become payable as of 31“ March 2014.

(b) According to the records of the Company, there was no disputed statutory dues that have not been deposited on account of the matters pending before appropriates authorities. .

4(x) The company has no accumulated losses as at March 31,2014.

4(xi) According to die information and explanations given to us, the Company has not defaulted in any repayment of dues to any financial Institution or bank, as applicable, as at the Balance Sheet date.

4(xii) As explained to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and therefore Paragraph 4(xii) of the said Order relating to maintenance of documents and records is not applicable.

4(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit Fund/Societies. Therefore, the provisions of clause 4(xiii) are not applicable to the company.

4(xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing in or trading in securities.

4(xv) According to the information and explanations given to us, the Company has not given guarantees Loan taken by others from bank or financial institutions and thus clause 4(xv) is not applicable.

4(xvi) According to the information and explanations given to us, the term loans were applied for the purpose for which they were obtained by the company.

4(xvii) According to the information and explanations given to us, the Company has not raised any funds, short-term or long-term, during the period and therefore Clause 4(xvii) of the said Order relating to usage of such funds is not applicable.

4(xviii) According to the information and explanations given to us, during die 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 Companies Act, 1956. •

(xix) According to the information and explanations given to us, during the year covered by our audit report, the Company has not issued any debentures.

4(xx) According to the information and explanations given to us, the Company has not made any public issue during the period and accordingly Paragraph 4(xx) of the said Order relating to end use of money raised is not applicable.

4(xxi) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the coarse of our audit

For SHYAM C. AGRAWAL & CO.

Chartered Accountants SD/- PLACE: MUMBAI S.C. AGRAWAL Date-19-06-2014 (Proprietor) M.No. 031774


Mar 31, 2013

1. We have audited the attached balance sheet of DHOOT INDUSTRIES LIMITED, as at March 31, 2013, and also the profit and loss account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company''s^ management. Our responsibility is to express an opinion on thesv^ financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

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

i. 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;

ii. 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;

iii. The balance sheet and profit and loss account dealt with by this report are in agreement with the books of account;

iv. In our opinion, the balance sheet and profit and loss account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

v. On the basis of written representations received from the directors, as on March 31, 2013 and taken on record by the Board of Directors, we report that 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;

vi. In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the notes thereon give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a. In the case of the balance sheet, of the state of affairs of the Company as at March 31, 2013; and

b. In the case of the profit and loss account, of the profit for the year ended on that date.

Referred to in paragraph 3 of our report of even date

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

(b) As informed and represented to us, fixed assets have not been physically^,^ verified by the management during the period but there is a reguk''^ programmed of verification and no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, the Company has not disposed off a substantial part of fixed assets during the period thereby affecting the going concern.

4(ii) The Company have no inventory, hence the said clause is not applicable.

4(iii)(a) The Company during the period has granted Interest loans to parties listed in the register maintained under section 301 of the Companies Act, 1956.

(b) In the Opinion of the Management, the interest rate & other terms and conditions of such loan are not, is prima facie, prejudicial to the interest of the Company.

(c) There is no Stipulation as to the Period of repayment.

(d)Thus, We are unable to Comment on regularity of repayment & overdue amount as there is no stipulation for the same.

(e) The Company had taken loans from parties listed in the register maintainei under section 301 of the Companies Act, 1956.

(f) In the opinion of management, interest rate and the other terms & Condition on which loans have been taken from parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the company.

(g) As there is no stipulation for repayment of loan, we are unable to comment on regularity on repayment.

4(iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the company.

4(v)(a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, there are no transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Act.

4(vi) In our opinion and according to information and explanations given to us, the Company has not accepted deposits from the Director and public within the meaning of section 58A of the Companies Act, 1956 and the rules framed there under are not applicable.

4(vii) In our opinion, the company has an internal audit system according to its size and nature of its business.

4(viii) The Central Government has not prescribed maintenance of cost records under section 209(1 )(d) of the Companies Act, 1956 for any of the activities of the Company.

4(ix)(a) According to information and explanation given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax, service tax and other material statutory dues applicable to it which are outstanding for more than Six months from the date they become payable as of 31*'' March 2013.

(b) According to the records of the Company, there was no disputed statutory dues that have not been deposited on account of the matters pending before appropriates authorities.

4(x) The company has no accumulated losses as at March 31, 2013.

4(xi) According to the information and explanations given to us, the Company has not defaulted in any repayment of dues to any financial Institution or bank, as applicable, as at the Balance Sheet date.

4(xii) As explained to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and therefore Paragraph 4(xii) of the said Order relating to maintenance of documents and records is not applicable.

4(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit Fund/Societies. Therefore, the provisions of clause 4(xiii) are not applicable to the company.

4(xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing in or trading in securities.

4(xv) According to the information and explanations given to us, the Company has ru. i given guarantees Loan taken by others from bank or financial institutions and thus clause 4(xv) is not applicable.

4(xvi) According to the information and explanations given to us, the term loans were applied for the purpose for which they were obtained by the company.

4(xvii) According to the information and explanations given to us, the Company has not raised any funds, short-term or long-term, during the period and therefore Clause 4(xvii) of the said Order relating to usage of such funds is not applicable.

4(xviii) According to the information and explanations given to us, 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 Companies Act, 1956.

4(xix) According to the information and explanations given to us, during the year covered by our audit report, the Company has not issued any debentures.

4(xx) According to the information and explanations given to us, the Company has not made any public issue during the period and accordingly Paragraph 4(xx) of the said Order relating to end use of money raised is not applicable.

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

For SHYAM C. AGRAWAL & CO.

Chartered Accountants

Sd/-

Place :Mumbai S.C. AGRAWAL

Date: 8lh August, 2013 (Proprietor)


Mar 31, 2012

1. We have audited the attached balance sheet of DHOOT INDUSTRIES LIMITED, as at March 31, 2012, and also the profit and loss account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

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

i. 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;

ii. 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;

iii. The balance sheet and profit and loss account dealt with by this report are in agreement with the books of account;

iv. In our opinion, the balance sheet and profit and loss account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

v. On the basis of written representations received from the directors, as on March 31, 2012 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on March 31, 2012 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956;

vi. In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the notes thereon give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a. In the case of the balance sheet, of the state of affairs of the Company as at March 31, 2012; and

b. In the case of the profit and loss account, of the profit for the year ended on that date.

Annexure to the auditor's report of DHOOT INDUSTRIES LIMITED

Referred to in paragraph 3 of our report of even date

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

(b) As informed and represented to us, fixed assets have not been physically verified by the management during the period but there is a regular programmed of verification and no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, the Company has not disposed off a substantial part of fixed assets during the period thereby affecting the going concern.

4(ii) The Company have no inventory, hence the said clause is not applicable.

4(iii)(a) The Company during the period has granted Interest loans to parties listed in the register maintained under section 301 of the Companies Act, 1956.

(b) In the Opinion of the Management, the interest rate & other terms and conditions of such loan are not, is prima facie, prejudicial to the interest of the Company.

(c) There is no Stipulation as to the Period of repayment.

(d)Thus, We are unable to Comment on regularity of repayment & overdue amount as there is no stipulation for the same.

(e) The Company had taken loans from parties listed in the register maintained under section 301 of the Companies Act, 1956.

(f) In the opinion of management, interest rate and the other terms & Condition on which loans have been taken from parties listed in the register maintained under section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the company.

(g) As there is no stipulation for repayment of loan, we are unable to comment on regularity on repayment.

4(iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal control system of the company.

4(v)(a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, there are no transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Act.

4(vi) In our opinion and according to information and explanations given to us, the Company has not accepted deposits from the Director and public within the meaning of section 58A of the Companies Act, 1956 and the rules framed there under are not applicable.

4(vii) In our opinion, the company has an internal audit system according to its size and nature of its business.

4(viii) The Central Government has not prescribed maintenance of cost records under section 209(1)(d) of the Companies Act, 1956 for any of the activities of the Company.

4(ix)(a) According to information and explanation given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax, service tax and other material statutory dues applicable to it which are outstanding for more than Six months from the date they become payable as of 31st March 2012.

(b) According to the records of the Company, there was no disputed statutory dues that have not been deposited on account of the matters pending before appropriates authorities.

4(x) The company has no accumulated losses as at March 31, 2012.

4(xi) According to the information and explanations given to us, the Company has not defaulted in any repayment of dues to any financial Institution or bank, as applicable, as at the Balance Sheet date.

4(xii) As explained to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and therefore Paragraph 4(xii) of the said Order relating to maintenance of documents and records is not applicable.

4(xiii) The Company is not a Chit Fund / Nidhi / Mutual Benefit Fund/Societies. Therefore, the provisions of clause 4(xiii) are not applicable to the company.

4(xiv) In our opinion and according to the information and explanations given to us, the Company is not dealing in or trading in securities.

4(xv) According to the information and explanations given to us, the Company has not given guarantees Loan taken by others from bank or financial institutions and thus clause 4(xv) is not applicable.

4(xvi) According to the information and explanations given to us, the term loans were applied for the purpose for which they were obtained by the company.

4(xvii) According to the information and explanations given to us, the Company has not raised any funds, short-term or long-term, during the period and therefore Clause 4(xvii) of the said Order relating to usage of such funds is not applicable.

4(xviii) According to the information and explanations given to us, 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 Companies Act, 1956.

4(xix) According to the information and explanations given to us, during the year covered by our audit report, the Company has not issued any debentures.

4(xx) According to the information and explanations given to us, the Company has not made any public issue during the period and accordingly Paragraph 4(xx) of the said Order relating to end use of money raised is not applicable.

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

For SHYAM C. AGRAWAL & CO. Chartered Accountants

MUMBAI S.C. AGRAWAL

DATED (Proprietor)


Mar 31, 2010

We have audited the attached Balance Sheet of DHOOT INDUSTRIES LIMITED at 31st March 2010 & the Profit and Loss Account for the period ended on that date, annexed thereto.These financial statements are the responsibility of the companys management .Our responsibility is to express an opinion this financial statement based on our audit:

1. We have conducted our audit accordance with auditing with standers generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about weather 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 principal used and significant estimate made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

2. We have obtained all the information and the explanation , which to the best of our knowledge and belief were necessary of the purpose of our audit.

3 . In our opinion books of account as required by law have been kept by the company so far as it appears from our examination of such books.

4 . In our opinion the Balance Sheet and Profit & Loss Account with the Accounting standards referred to in Sub-Section (3C) of section on 211 of the Companies Act, 1956.

5 . In our opinion and to the best of our information and according to the explanation given to us , the said accounts read with the and subject to the notes to the accounts relating to Balance Sheet and Profit & Loss account give the information required by the Company Act , 1956 , in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India.

6.

1) In the case of Balance Sheet of the state of Affairs of the Company as at 31st March ,2010 and

2) In the case of profit and Loss account, of the profit for the year ended on that date

7. On the basis of written representation received from the Directors , as on 31st March ,2010 and taken on record by the Board of Directors , we report that none of the Director is disqualified as on 31st March , 2010 , from being appointed as Director in term of clause (9) of Sub section (1) 274 of the Companies Act 1956,



ANNEXURE TO AUDITORS REPORT

Referred to in paragraph (3) of our report of even date on the accounts of DHOOT INDUSTRIES LIMITED for the year ended 31st March 2010.

1. In respect of its Fixed Assets:-

a) The company has maintained proper records showing full particulars, including quantitative details and situation of Fixed Assets, Fixed Assets were physically verified by the management during the year. In our opinion the period of verification is reasonable having regards to the size of the company and Nature of its assets. No material discrepancies have been on such verification.

b) According to the information and explanation given to us, the company has not disposed off any Fixed assets, during the year.

2. In respect of Inventories:- Not applicable.

3. (i) The company has taken unsecured loans from parties covered in the register maintained under section 301 of the companies Act, 1956. the amount outstanding at the end of the year was Rs. 5668910/-.

(ii) The company had not granted unsecured loans to the parties listed in the Register maintained under section 301 of the companies Act, 1956. (iii) Terms & conditions on which loans have been taken from parties listed listed in the Register maintained under section 301 of the companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

4. in our opinion and according to the information and explanation given to us there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory, fixed assets and also for the sale of goods. During the course of our audit, we have not observed any major weakness in internal controls.

5. A) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements that needed to be entered in to in the Register maintained under section 301 of the companies Act, 1956, have been so entered.

B) In our opinion and according to the information and explanations given to us, the transactions made to in pursuance of contracts or arrangements entered in the Register maintained under section 301 of the companies Act, 1956 and exceeding the value of Rs. 500000/- in respect of any Party during the year have been made at prices which are responsible having regard to the prevailing market price at the relevant time.

6. The company has not accepted any deposits from the public during the year covered by our Audit report.

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

8. As informed to us the maintenance of cost records has not been prescribed by the central Government under section 209(1 Xd) of the company Act, 1956 in respect of the activities carried on by the company.

9. According to the records of the Company undisputed statutory dues including provident fund, investor Education and protection fund, Employee state insurance, Income Tax, Sales Tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues have been generally regularly deposited with the appropriate authorities. According to the information and explanation given to us, no undisputed amount payable in respect of aforesaid dues were outstanding as at 31st March, 2010 for a period or more than six months from the date they becoming payable.

10. The company did not issue any debenture during the year.

11. Based on our Audit procedures and according to the information and explanation given to us the company has not defaulted in repayment of dues financial institution and banks.

12. According to the information & explanation given to us the company has not granted loans & advances on the basis of security by way of pledge of shares and other securities.

13. In our opinion, the company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, clause 4(Xiii) of the companies(Auditors Report) order 2003 is not applicable to the company.

14. In our opinion the company has maintain proper records of transaction in respect of dealing in shares during the year and timely entries have been generally made there in all shares have been held by the company in own name.

15. As informed to us, the company has not given any guarantees for loans taken by other from banks or financial institutions.

16. The company has not taken any term loan during the year . Therefore clause 4(xvi) of the companies (Auditors Report) order 2003 is not applicable.

17. According to information and explanation of the balance sheet of the company we report that no funds raised on short term basis have been used for long term Investment.

18. The company during the year has not made any preferential allotment of shares to parties and companies covered in the registered maintained under section 301 of the companies Act, 1956.

19. According to information and explanations given to us the company has not issued any Debenture during the period covered by our Report. Accordingly the provision of clause (xix) of the order are not applicable to the company

20. The company has not raised any money by way of public issue during the year and therefore paragraph 4 (xix) of the order is not applicable.

21. During the course of our examination of the books and records of the company carried in accordance with the generally accepted auditing practices in India and according to the information and explanation given to us we have neither come across any instance of fraud on or by the company noticed or reported during the year nor have informed of such case by the management.



For SHYAM . C . AGRAWAL & CO .

CHARTERTD ACCOUNTANTS

Sd/-

(S. C . AGRAWAL )

PROPRITOR.

PLACE : Mumbai

DATE : 06-09.2010



 
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