Mar 31, 2015
We have audited the attached Balance Sheet of SUN SOURCE INDIA LIMITED
as.at-31st March 2015, the Statement of Profit & Loss for the year
ended on that date and cash flow statement 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 stated
in Section 134(5) of the Companies-Act, 2013 ("the Act") with respect
to the preparation of these financial statements that give a true and
fair view of the financial position and financial performance of the
Company in accordancewith the accounting principles generally accepted
in India, including the Accounting Standards-specified under Section
133 of the Act, read with Rule 7 ofthe Companies (Accounts) Rules,
2014.
This responsibility also includes maintenance of-adequate accounting
records in accordance with the provisions of the Act for safeguarding
the assets of .the Company and for preventing and. detecting, frauds
and other irregularities; selection and application of appropriate
accounting policies; making judgments and. estimates that .are
reasonable and prudent; and' 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 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 pur 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 ofthe financial statements.
We believe that the audit evidence we. have obtained is sufficient and
appropriate to provide a basis for our audit 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 mariner 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 on 31 st March, 2015;
(b) in the case of the Statement of the Profit '& Loss, of the Profit
of the Company for the year ended on the date
(c) In case of the Cash Flow Statement, the cash flow of the company,
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 Section
143(11) of the Act, we give in the Annextire, 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
purposes of our audit;
(b) in our opinion, proper books of account as required bylaw have been
kept by the Company so far as it appears from our examination of those
books;
(o) the balance sheet, the. statement of profit and loss and the 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 Ad, read with
rule 7 of the Companies (Accounts) Rules, 2014;
(e) on the basis of the written representations received from the
directors as on March 31., 2015 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; and
(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. the Company has disclosed the Impact of pending litigations on its
financial position In its financial statements:
ii the Company has made provision, as required under the applicable law
or accounting standards, for material foreseeable losses, if any, on
long-term contracts including derivative contracts; and iii. there were
no amounts which were required to .be transferred to the. Investor
Education and Protection Fund by the Company.
[Referred to in paragraph (1) of pur report of even date to the Members
of SUN SOURCE INDIA Limited cm the financial statements for the year
ended on 31st March 2015.
(i) (a) The Company has maintained proper records to show full
particulars including quantitative details and situation of fixed
assets.
(b) The fixed assets were physically verified by the Management during
the year, According to the information and explanations give to us, no
material discrepancies were noticed on such verification.
(ii) (a) Physical verification of inventory has been conducted once
during the year by the Management. In our opinion, the frequency of
verification is reasonable,
(b) The procedures of the physical, verification of inventory followed
by the Management are reasonable and adequate in relation to the size
of the Company and nature of the business.
(c) The Company is maintaining proper records of its inventory.
Discrepancies noticed on physical verification were not material and has
been properly dealt with in the books of account.
(iii) According to the information and explanations given to us, the
Company has not granted any loans, secured or unsecured, to companies,
firms or other parties covered in the register maintained under section
189 of the Act. Accordingly, paragraph 3 (ill) (a) and. (b) of the
Order is not applicable.
(iv) In our opinion and according to the information and
explanations,given to us, there are adequate internal control
procedures commensurate with the size of the Company and nature of its
business for the purchase of Fixed Assets and for the sale of services.
Based on information made available to us, there are no instances of
continuing failure to correct major weaknesses in internal control.
(v) According to the information and explanations given to us, the
Company has not accepted any deposits from the public to which the
directives issued by the Reserve Bank of India and the provisions of
sections 73 to 76 and any other relevant provisions of the Act and the
rules framed thereunder apply.
(vi) We have broadly reviewed the books of accounts and records
maintained by the Company pursuant to the rules prescribed by the
Central Government for the maintenance-of cost records under section 148
(1) of the Companies Act, 2013 in respect of all its shop fabrication
and project site activities, and are of the opinion that prima facie the
prescribed accounts and records have been made and maintained. The
contents of these accounts and records have not been examined by us,
(vii) (a) According to the information and explanations given to us and
the records of the Company examined by us, in our opinion, the Company
has been generally regular in depositing, undisputed statutory dues,
including income-tax, custom duty, excise duty, service tax, cess and
other material statutory dues as applicable with the appropriate
authorities.
(b) According to the information and explanations given to us and as
per the records, of the Company, there are no disputed dues of sales
tax, income tax, custom duty, wealth tax, excise duty, service tax and
cess as at 31st March 2015, which have not been deposited on account of
any disputes.
(c) According to the information and explanations given to us, there is
no amount required to be transferred to Investor Education and
Protection Fund in accordance with the relevant provisions of the
Companies Act, 1956 and the rules made thereunder.
(viii) The Company has been registered for more than 5 years. No
accumulated losses exceeding 50 % of the Net Worth has been suffered by
the Company as at the end of Financial year. However, in our opinion,
the Company has incurred, cash losses amounting to '(345,288 /-) during
the current financial year. Cash loss amounting to(350,975/-) has been
incurred in the immediately preceding financial year.
ANNEXURE TO AUDITORS' REPORT (,<.Contd)
[Referred to in paragraph (1) of our report of even date to the Members
of SUN SOURCE INDIA Limited on the financial statements for the year
ended on 31st March 2015],
(ix) In our opinion and according to the information and explanation
given to us, the Company has not defaulted in repayment of dues to any
Financial Institution, Bank % Debenture Holders, as at the Balance
Sheet date.
(x) In our opinion and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from bank or financial institution during the year.
(xi) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not availed any
term loan during the current year.
(xii) During the course of our examination of the books' and records of
the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
any fraud on or by the Company, noticed or reported during the year,
nor have we been informed of such case by the management,
Joshi Jain & Co
Chartered Accountants
ICAI Firm.Reg. No.:128820W
Place: Vadodara CA Sachin Joshi
Date: 30-May-2015 Partner
Membership No, 119560
Mar 31, 2014
We have audited the attached Balance Sheet of SUN SOURCE INDIA LIMITED
as at 31st March 2014, the Statement of Profit & Loss for the year
ended on that date and cash flow statement 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 and
financial performance of the Company in accordance with the Accounting
Standards notified under the Companies Act, 1956 ("the Act") read with
the General Circular 15/2013 dated 13thSeptember 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 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:
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 on 31st March, 2014;
(b) in the case of the Statement of the Profit & Loss, of the Profit of
the Company for the year ended on that date.
(c) In case of the Cash Flow Statement, the cash flow of the company.
Emphasis of Matter
We draw attention to Note no. 25 relating to non provision of Employee
Benefits as per Accounting Standard 15 with respect to Gratuity and
Leave Benefits.
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 dealt with by
this Report are in agreement with the books of account;
(d) in our opinion, the balance sheet and statement of profit and loss,
comply with the Accounting Standards notified under the Act read with
the General Circular 15/2013 dated 13thSeptember 2013, of the Ministry
of Corporate Affairs in respect of section 133 of the Companies Act,
2013; and
(e) on the basis of written representations received from the directors
as on March 31, 2014, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2014, from being
appointed as a director in terms of clause (g) of sub-section (1) of
section 274 of the Companies Act, 1956.
ANNEXURE TO AUDITORS' REPORT
[Referred to in paragraph (1) of our report of even date to the Members
of SUN SOURCE INDIA Limited on the financial statements for the year
ended on 31st March 2014].
(i) (a) The Company has maintained proper records to show full
particulars including quantitative details and situation of fixed
assets.
(b) This year all the fixed assets were physically verified by the
Management. According to the information and explanations give to us,
no material discrepancies were noticed on such verification.
(c) The Company has not disposed off any substantial part of its Fixed
Assets so as to affect its going concern status.
(ii) (a) Physical verification of inventory has been conducted once
during the year by the Management. In our opinion, the frequency of
verification is reasonable.
(b) The procedures of the physical verification of inventory followed
by the Management are reasonable and adequate in relation to the size
of the Company and nature of the business.
(c) The Company is maintaining proper records of its inventory.
Discrepancies noticed on physical verification were not material and
has been properly dealt with in the books of account.
[Referred to in paragraph (1) of our report of even date to the Members
of SUN SOURCE INDIA Limited on the financial statements for the year
ended on 31st March 2014].
(iii) (a) The Company has not granted any unsecured loan to Companies,
firms or other parties covered in the register maintained under Section
301 of the Act. Accordingly, sub clause (a), (b), (c) and (d) are not
applicable to the Company.
(b) The Company has taken interest free unsecured loan of
Rs,57,30,000/- from Companies, firms or other parties covered in the
register maintained under Section 301 of the Act. According to
information and explanation given to us we are of the opinion that the
terms of the loan are not prejudicial to the interest of the Company.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and nature of its business
for the purchase of Fixed Assets and for the sale of services. Based on
information made available to us, there are no instances of continuing
failure to correct major weaknesses in internal control.
(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, the transactions made in
pursuance of contracts or arrangements entered in the register
maintained under section 301 of the Companies Act,1956 and exceeding
the value of rupees five lakhs in respect of any party during the year
have been made at prices which are reasonable having regard to
prevailing market prices at the relevant time.
(vi) The Company has not accepted deposits from public within the
meaning of sections 58A, 58AA or any other relevant provisions of the
Act and the rules framed there under,
(vii) The Company does not have an internal audit system uring the
year.
(viii) As per the information and explanations given to us, in respect
of the class of industry the Company falls under, the maintenance of
cost records have not been prescribed by the Central Government under
section 209 (1)(d) of the Companies Act, 1956.
(ix) (a) According to the information and explanations given to us and
the records of the Company examined by us, in our opinion, the Company
has been generally regular in depositing undisputed statutory dues
including income-tax, custom duty, excise duty, service tax, cess and
other material statutory dues as applicable with the appropriate
authorities. (b) According to the information and explanations given
to us and as per the records of the Company, there are no disputed dues
of sales tax, income tax, custom duty, wealth tax, excise duty, service
tax and cess as at 31st March 2014, which have not been deposited on
account of any disputes.
(x) The Company has been registered for more than 5 years. No
accumulated losses exceeding 50 % of the Net Worth has been suffered by
the Company as at the end of Financial year. However, in our opinion,
the Company has incurred cash losses amounting to Rs,( 350,975/-)
during the current financial year. Cash loss amounting to Rs,
(368,164/-) has been incurred in the immediately preceding financial
year.
[Referred to in paragraph (1) of our report of even date to the Members
of SUN SOURCE INDIA Limited on the financial statements for the year
ended on 31st March 2014].
(xi) In our opinion and according to the information and explanation
given to us, the Company has not defaulted in repayment of dues to any
Financial Institution, Bank & Debenture Holders, as at the Balance
Sheet date.
(xii) According to the information and explanation given to us, the
Company has not granted any loans and advances on the basis of security
by way of pledge of shares, debentures and other securities.
(xiii) The provisions of any special statute applicable to chit fund /
nidhi / mutual benefit fund / societies are not applicable to the
Company.
(xiv) In our opinion and according to the information and explanation
given to us, the Company is not dealing or trading in shares,
securities, debentures and other investments.
(xv) In our opinion and according to the information and explanations
given to us, the Company has not given any guarantee for loans taken by
others from bank or financial institution during the year.
(xvi) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not availed
any term loan during the current year. Accordingly, paragraph 4(xvi)
of the Order is not applicable.
(xvii) On the basis of an overall examination of the Balance Sheet of
the Company and according to the information and explanations given to
us, in our opinion, the Company has not applied funds raised on short-
term basis for long term investments.
(xviii) The Company has not made preferential allotment of shares to
parties and Companies covered in the Register maintained under section
301 of the Companies Act, 1956.
(xix) The Company has not issued any debenture during the year.
(xx) The Company has not raised any money through public issue during
the year.
(xxi) During the course of our examination of the books and records of
the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
any fraud on or by the Company, noticed or reported during the year,
nor have we been informed of such case by the management.
Joshi Jain & Co
Chartered Accountants
ICAI Firm Reg. No.:128820W
Sd/-
CA Sachin Joshi
Place: Vadodara Partner
Date: 30-May-2014 Membership No. 119560
Mar 31, 2010
We have audited the attached BALANCE SHEET of SUN SOURCE (INDIA)
LIMITED as at 31st March, 2010 and also the PROFIT & LOSS ACCOUNT and
the CASH FLOW STATEMENT 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 opinion on these
financial statements based on our Audit.
We have conducted our audit in accordance with auditing standards
generally accepted in India. These 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 the management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides reasonable
basis for our opinion.
As required by the Companies (Auditors Report) Order, 2003 issued by
the Central Government in terms of Section 227 (4A) if the Companies
Act, 1956 we enclose in the annexure a statement on the matters
specified in para 4 & 5 of the order.
Further to our comments in the annexure, We report that:
(a) We have obtained all the information and explanations which to the
best o 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
these books.
(c)The Balance Sheet, Profit & Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of accounts.
(d) In our opinion, Profit & Loss Account and Balance Sheet and Cash
Flow Statement except as given below, comply with Accounting Standards
referred to in sub-section (3C) of section 211 of the Companies Act,
1956.
Except as reported here-in -below:
i) AS-26 being Intangible Assets has not been adhered to. As the
preliminary expenses has not been written off.
ii) AS-28 being Impairment of Assets has not been adhered to. No
impairment review has been carried out however there is significant
reduction in value of the fixed assets.
iii) AS-29 being Provisions, Contingent Liabilities and Contingent
Assets have not been adhered to. As the provision for various expenses
has not been provided.
(e) On the basis of written representations received from the Directors
of the Company and taken on the records by the Board of Directors, we
report that none of the directors are disqualified as on 31st March,
2010 to act as directors of this company under clause (g) of sub-
section (1) of section 274 of the Companies Act, 1956.
(f) Attention is invited to the following Significant Accounting
Policies (SAP) and Notes given in the Schedule I forming part of the
accounts,
i) SAP No-A3: Regarding non-writing off preliminary expenses.
ii) SAP No-A5 & Note No B-16: Regarding non provision and disclose
diminution in the value of Investments.
iii) Note No-B7: Regarding consequences of suspension of tradir shares
of the company- Amount not ascertained.
iv) Note No-B14: Regarding External-Confirmation of balances of va
accounts.
(g) In our opinion and to the best of our information and according to
explanation given to us, the said accounts subject to the para 4(d) and
4(f) above, read with the significant accounting policies and notes
to accounts thereon, give the information required by the Companies
Act, 19 in the matter so required and give a true and fair view in
conformity with accounting principles generally accepted in India.
i) in the case of the Balance sheet, of the state of affairs of the
Company at 31st March, 2010.
ii) in the case of the Profit & Loss Account, of the Profit for the
year end on that date. And,
iii) in case of Cash Flow Statement, of the cash flows for the year
ended that date.
ANNEXURE TO THE AUDITORS REPORT (REFFRED TO IN PARA (3) OF OUR REPORT
OF EVEN DATE)
1. (a) The Company has not maintained proper records showing all full
particulars including quantitative details and situation of fixed
assets. We are informed that due to floods in the past, the records
were destroyed.
(b)None of the assets of the Company have been physically verified by
the management during the year.
(c) No assets of the Company of the Company were disposed off during
the year & hence going concern concept is not affected. However, as
such no commercial operation is carried out during the year.
2. (a) The Inventory has not been physically verified during the year
by management
(b) In view of our comments in para ii(a) above, para ii(b) regarding
procedure of verification of inventories, is not applicable.
(c) The Company is not maintaining proper records of its inventory and
hence discrepancies could not be assessed. We are informed that as
there are no technical persons, the verification of inventories is not
carried out & its records are not made available.
3. According to the information and explanation given to us the
transactions that need to be entered into the register maintained under
section 301 of the Companies Act, 1956 have not been so entered.
However, the Company has granted loans, secured or unsecured, to the
various companies, firms or other parties and there is no repayment of
the said loan/s. The loan/s is/are interest free & hence its terms are
prejudicial to the interest of the company.
4. In our opinion and according to the information given to us during
the course of the audit, there are no purchases of inventory and / or
fixed assets.
However, as informed to us, Sale of goods was carried out under
supervision of a Director. Under the circumstances, we are unable to
express on Internal control procedures.
5. (a) According to the information and explanations given to us the
transactions that need to be entered in the register maintained u/s 301
of the Companies Act, 1956 have not been so entered. As informed to us,
during the year there are no such transactions.
(b) In view of our comments in para v(a) above, para v(b) regarding
reasonableness of transaction is not applicable.
6. The Company has not accepted any deposits from the public during
the period and hence question of compliance of RBI directives and
provisions of Sec. 58A and 58AA of the Companies Act, 1956 does not
arise. However, refund to be given to share holders who were not
allotted shares in previous years is shown under the head Other
Liabilities. As explained to us, earlier, it was secured by matching
Fixed Deposits with Banks. Now, the said Deposit is withdrawn & hence
it has become Unsecured. To that extent there is default u/s 58A/58AA
of the Companies Act, 1956.
7. The Company does not have an internal audit system, as there are
hardly any operations during the year.
8. No manufacturing activities have been carried out during the year.
Para 4(Viii) of the Companies (Auditors Report) Order 2003 is
therefore not applicable.
9. (a) In our opinion and according to the information and explanation
given to us the Companys generally regular in depositing undisputed
statutory dues such as PF, ESI,IT ,ST, Central Excise Duty, Custom Duty
etc. with appropriate authorities and no undisputed amounts payable as
on 31st March 2010.
(b) Following dues payable to various government authorities are
disputed & hence not paid or provided for by the company. Disputed dues
not paid Rs. 3 lacs (Approx) to GEB.
10. There are no accumulated losses as at the end of the financial
year. The Company has not incurred the cash losses during the current
financial year and immediately preceding financial year.
11.In our opinion and according to the information and explanation
given to us, there are no dues payable to financial institutions or
Bank or debenture holders.
12.According to the information and explanation given to us, the
company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures & other securities and hence
maintenance of records does not arise.
13.In our opinion the Company is not Chit Fund or a Nidhi / Mutual
Benefit Funds/ Society, therefore the provision of clause 4 (xiii) of
the Companies (Auditors Report) Order, 2003 are not applicable to the
company.
14.ln our opinion the Company is not dealing or trading in shares,
Securities, Debentures and other investments. Therefore the provision
of clause 4{xiv) of the Companies (Auditors Report) Order 2003 are not
applicable to the company.
15.According to the information and explanation given to us and records
examined by us the Company has not given any Guarantee for the Loans
taken by others from banks or financial institutions.
16.The Company has not taken any term loan during the year and hence
the question of commenting or default in application thereof does not
arise.
17.According to the information and explanation given to us an on
overall examination of the Balance sheet of the Company, we report that
no funds raised on short term basis used for long term investment.
18.The Company has not made any preferential allotment of shares during
the year.
19.The Company has not issued any debentures during the year and hence
the question of creating any securities/charge thereof does not arise.
20. During the period the Company has not raised money by public issue.
21. 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 Talati & Associates
Chartered Accountants
Sd/-
(Mehul P Talati)
Proprietor
Place: Vadodara
Mem No: 113915 Date: 28th May, 2010.