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Auditor Report of Super Crop Safe Ltd.

Mar 31, 2015

We have audited the accompanying standalone financial statements of SUPER CROP SAFE LIMITED ("the Company"), which comprise the Balance Sheet as at 31st March, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone 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 standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 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 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 standalone financial statements based on our audit.

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

We 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 the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are

appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial

reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the 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 standalone financial statements.

Opinion

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ('the Order') issued by the Central Government of India in terms of sub- section (11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

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

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

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

(c) 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, subject to G and O of Significant policies, the aforesaid standalone 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 the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the Act.

(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 does not have any pending litigations which would impact its financial position

ii. The Company did not have any long-term contracts including derivative contracts 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 AUDITOR'S REPORT

(i) (a) The Company has maintained proper records to show full particulars including quantitative details and situations of fixed assets.

(b) As per information given to us, the fixed assets of the company have been physically verified by the management during the year and no material discrepancies were noticed by the management on such verification.

(ii) (a) As per information and explanations given to us, physical verification of finished goods, stores, spare parts and raw materials have been conducted by the management at the reasonable intervals.

(b) The procedures of physical verification of the stock followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) The Company is maintaining proper records of inventory, discrepancies noticed on physical verification have been properly dealt with in the books of accounts.

(iii) (a) The company has not granted any secured or unsecured loan to the companies, firms or other parties listed in the register maintained under Section 189 of the Companies Act, 2013.

(iv) In our opinion and according to information and explanations given to us there are adequate internal control procedures commensurate with the size of the company and the nature of its business for purchase of inventory, fixed assets and for the sale of the goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control.

(v) According to the information and explanation given to us, the Company has not accepted any deposits from the public. Therefore this clause is not applicable.

(vi) We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014 prescribed by the Central Government under section 148(1)(d) of the Companies Act, 2013 and are of the opinion that, prima facie, the prescribed cost records have been maintained. We have, however not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

(vii) (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 any other statutory dues except provident fund and income tax have been generally regularly deposited with the appropriate authorities. According to information and explanations given to us, No undisputed amounts, except advance income tax of Rs 4,95,000, payable in respect of the aforesaid dues were outstanding as at 31st March, 2015 for a period of more than six months from the date those become payable.

(b) According to information and explanations given to us, following statutory dues have not been deposited as on March 31, 2015 on account of disputes:

Sr Name of Statute Nature of Amount Period for which No. Dues (Rs) amount relates

1 Central Sales Tax Act,1956 CST/VAT 405809 FY 2009-10

2 Central Sales Tax Act,1956 CST/VAT 520009 FY 2010-11

TOTAL 925818

Sr Name of Statute Forum where dispute is pending No.

1 Central Sales Tax Act,1956 Dy Commissioner of Commercial Tax Appeal-2

2 Central Sales Tax Act,1956 Dy Commissioner of Commercial Tax Appeal-2

TOTAL

(c) According to the records of the company, there are no amounts that are due to be transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under.

(viii) The Company has no accumulated losses and has not incurred any cash losses during the financial year covered by our audit or in the immediately preceding financial year.

(ix) Based on our audit procedures and according to the information and explanation given to us, we are of the opinion that the company has not defaulted in repayment of dues to financial institutions, banks or debenture holders.

(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 institutions.

(xi) In our opinion, and according to the information and explanations given to us, the term loans were applied for the purpose for which the loans were obtained.

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

For, Parimal S. Shah & C0. Chartered Accountants FRN : 107591W

(Parimal S. Shah) Place : Ahmedabad Proprietor Date : 30.05.2015 M. No. 038507




Mar 31, 2014

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

Management Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows 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 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 of internal control relevant to the preparation and presentation of the Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors'' Responsibility

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

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 explanations given to us, 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:

(i) in case of Balance Sheet, of the State of affairs of the company as at 31st March, 2014,

(ii) in case of statement of profit and loss, of the profit for the year ended on that date and

(iii) in case of Cash flow statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 (the Order), issued by the Central Government in terms of Section 227 (4A) of the Act, we give in the Annexure a statement on the matters Specified in paragraph 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 accounts as required by law have been kept by the Company so far as appears from our examinations 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) Subject to G and O of Significant Accounting Policies, the Balance Sheet, Profit and Loss account and Cash Flow Statement comply with the accounting standards notified under 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.

(e) On the basis of written representation 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 director in terms of clause (g) of sub section (1) of Section 274 of the Companies Act, 1956.

ANNEXURE TO THE AUDITORS'' REPORT Re: SUPER CROP SAFE LIMITED 2013-14 Referred to in Paragraph 1 of Report on Other Legal and Regulatory Requirements of our report of even date.

1. (a) The company has maintained proper records to show full particulars including quantitative details and situations of fixed assets.

(b) As per information given to us, the fixed assets of the company have been physically verified by the management during the year and no material discrepancies were noticed by the management on such verification.

(c) The Company has not disposed off a substantial part of fixed assets during the year.

2. (a) As per information and explanations given to us, physical verification of finished goods, stores, spare parts and raw materials have been conducted by the management at the reasonable intervals.

(b) The procedure of physical verification of stock followed by the management are reasonable and adequate in relation to size of the company and nature of its business.

(c) The Company is maintaining proper records of inventory, discrepancies noticed on physical verification have been properly dealt with in the books of accounts.

3. (a) In our opinion the company has neither accepted nor granted any secured or unsecured loans from or to the companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.

(b) There being no loans accepted or granted the clauses (b), (c), (d) (f) & (g) of clause (iii) are not applicable.

4. In our opinion and according to information and explanations given to us the internal control procedure, for purchase of inventory and fixed assets and for the sale of the goods, is commensurate with the size of the company and nature of its business. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control.

5. (a) In our opinion and according to information and explanations given to us, transactions that need to be entered into a Register in pursuance of 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 Rs.500000, 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.

6. The company has not accepted any deposits from the public, attracting the provisions of section 58A and 58AA of the companies Act, 1956 and the Companies (acceptance of Deposits) Rules, 1975.

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

8. We have broadly reviewed the cost records maintained by the company pursuant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1)(d) Of the Companies Act, 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

9. (a) According to the records of the Company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income Tax,Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other statutory dues except Income Tax have been generally regularly deposited with the appropriate authorities.

(b) According to information & explanations given to us, no undisputed amounts, except Advance Income tax of Rs 10,83,082, payable in respect of aforesaid dues were in arrears, as at 31st March, 2014 for a period of more than six months from the date they become payable and other material statutory dues applicable to it.

10. The Company does not have accumulated losses at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

11. In our opinion and according to explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or bank.

12. According to the information and explanations 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.

13. According to information and explanations given to us the company has not given any guarantee for loans taken by others from bank and financial institutions.

14. The Company has raised new terms loans during the year. The term loans outstanding at the beginning of the year and those raised during the year had been applied for the purposes for which they were raised.

15. According to information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment.

16. 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 during the year.

17. The company has not issued any debentures during the year.

18. During the year, the company has not raised any money by way of public issue.

19. 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 information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the financial year, nor have we been informed of such case by the Management.

20. Clauses (xiii) regarding special statute applicable to chit fund etc, and (xiv) regarding dealing in shares/securities of paragraph 4 of the Companies (Auditor''s Report) Order, 2003 (The Order), are not applicable to the Company for the year under audit.

For, Parimal S. Shah & C0. Chartered Accountants FRN : 107591W

(Parimal S. Shah) Place : Ahmedabad Proprietor Date : 29.05.2014 M. No. 38507


Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of SUPER CROP SAFE LIMITED which comprise the Balance Sheet as at 31st March, 2013 and the Statement of Profit and Loss and Cash Flow Statement for the year ended, and a summary of significant accounting policies and other explanatory information.

Management Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, 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.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.

Auditors Responsibility

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

(i) in case of Balance Sheet, of the State of affairs of the company as at 31st March, 2013,

(ii) in case of statement of profit and loss, of the profit for the year ended on that date and

(iii) in case of Cash flow statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 (the Order), issued by the Central Government in terms of Section 227 (4A) of the Act, we give in the Annexure a statement on the matters Specified in paragraph 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 accounts as required by law have been kept by the Company so far as appears from our examinations 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) Subject to G and O of Significant Accounting Policies, the Balance sheet, profit and loss statement and cash flow statement comply with the accounting standards referred to in section 211(3C) of the Companies Act, 1956.

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

ANNEXURE TO THE AUDITORS'' REPORT RE: SUPER CROP SAFE LIMITED 2012-13

Referred to in Paragraph 1 under the heading of "Report on Other Legal and Regulatory Requirements" of our report of even date

1. (a) The company has maintained proper records to show full particulars including quantitative details and situations of fixed assets.

(b) As per information given to us, the fixed assets of the company have been physically verified by the management during the year and no material discrepancies were noticed by the management on such verification.

(c) The Company has not disposed off a substantial part of fixed assets during the year.

2. (a) As per information and explanations given to us, physical verification of finished goods, stores, spare parts and raw materials have been conducted by the management at the reasonable intervals.

(b) The procedure of physical verification of stock followed by the management are reasonable and adequate in relation to size of the company and nature of its business.

(c) The Company is maintaining proper records of inventory, discrepancies noticed on physical verification have been properly dealt with in the books of accounts.

3. (a) In our opinion the company has neither accepted nor granted any secured or unsecured loans from or to the companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.

(b) There being no loans accepted or granted the clauses (b), (c), (d) (f) & (g) of clause (iii) are not applicable.

4. In our opinion and according to information and explanations given to us the internal control procedure, for purchase of inventory and fixed assets and for the sale of the goods, is commensurate with the size of the company and nature of its business. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control.

5. (a) In our opinion and according to information and explanations given to us, transactions that need to be entered into a Register in pursuance of 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 Rs.500000, 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.

6. The company has not accepted any deposits from the public, attracting the provisions of section 58A and 58AA of the companies Act, 1956 and the Companies (acceptance of Deposits) Rules, 1975.

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

8. We have broadly reviewed the cost records maintained by the company pursuant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(1)(d) of the Companies Act, 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

9. (a) According to the records of the Company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other statutory dues except Privident fund and Income Tax have been generally regularly deposited with the appropriate authorities.

(b) According to information & explanations given to us, no undisputed amounts, except Advance Income tax of Rs 1,175,162, payable in respect of aforesaid dues were in arrears, as at 31st March, 2013 for a period of more than six months from the date they become payable and other material statutory dues applicable to it.

10. The Company does not have accumulated losses at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

11. In our opinion and according to explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or bank.

12. According to the information and explanations 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.

13. According to information and explanations given to us the company has not given any guarantee for loans taken by others from bank and financial institutions.

14. The Company has raised new terms loans during the year. The term loans outstanding at the beginning of the year and those raised during the year had been applied for the purposes for which they were raised.

15. According to information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment.

16. The Company has made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act during the year and same is not prejudicial to the interest of the company being said preferential allotment is in consonance with SEBI (Disclosures and Investor Protection) Guidelines, 2000.

17. The company has not issued any debentures during the year.

18. During the year, the company has not raised any money by way of public issue.

19. 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 information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the financial year, nor have we been informed of such case by the Management.

20. Clauses (xiii), (xiv) of paragraph 4 of the Companies (Auditor''s Report) Order, 2003 (The Order), are not applicable to the Company for the year under audit.

For, Parimal S. Shah & CO.

Chartered Accountants

FRN : 107591W

(Parimal S. Shah)

Place : Ahmedabad Proprietor

Date : 28.05.2013 M. No. 38507


Mar 31, 2012

We have audited the attached Balance Sheet of SUPER CROP SAFE LIMITED as at 31st March, 2012 and the Profit and Loss Statement and also the Cash Flow Statement 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.

1. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

2. As required by the Companies (Auditor's Report) Order, 2003, as amended by the Companies (Auditor's Report) (Amendment) Order, 2004, issued by the Central Government in terms of Section 227 (4A) of the Companies Act 1956, and on the basis of such checks of the books and records of the Company as we considered appropriate and according to information and explanations given to us, we enclose in the Annexure a statement on the matters Specified in paragraph 4 and 5 of the said Order.

Further to our comments in Annexure referred to above, 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 accounts as required by law have been kept by the Company so far as appears from our examinations of the books,

(c) the Balance sheet, profit and loss Statement and cash flow statement dealt with by this report are in agreement with the books of account,

(d) Subject to G, M and 0 of Significant Accounting Policies, the Balance sheet, profit and loss statement and cash flow statement comply with the accounting standards referred to in section 211(3C) of the Companies Act, 1956.

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

(f) Subject to foregoing, in our opinion and to the best of our information and according to explanations given to us, financial statements read together with notes, 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:

(i) in case of Balance Sheet of the State of affairs of the company as at 31st March, 2012,

(ii) in case of profit and loss statement of the profit for the year ended on that date and

(iii) in case of Cash flow statement of the cash flows for the year ended on that date.

ANNEXURE TO THE AUDITORS' REPORT RE: SUPER CROP SAFE LIMITED 2011-12

Referred to in Paragraph 3 of our report of even date.

1. (a) The company has maintained proper records to show full particulars including quantitative details and situations of fixed assets.

(b) As per information given to us, the fixed assets of the company have been physically verified by the management during the year and no material discrepancies were noticed by the management on such verification.

(c) The Company has not disposed off a substantial part of fixed assets during the year.

2. (a) As per information and explanations given to us, physical verification of finished goods, stores, spare parts and raw materials have been conducted by the management at the reasonable intervals.

(b) The procedure of physical verification of stock followed by the management are reasonable and adequate in relation to size of the company and nature of its business.

(c) The Company is maintaining proper records of inventory, discrepancies noticed on physical verification have been properly dealt with in the books of accounts.

3. (a) In our opinion the company has neither accepted nor granted any secured or unsecured loans from or to the companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.

(b) There being no loans accepted or granted the clauses (b), (c), (d) (f) & (g) of clause (iii) are not applicable.

4. In our opinion and according to information and explanations given to us the internal control procedure, for purchase of inventory and fixed assets and for the sale of the goods, is commensurate with the size of the company and nature of its business. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control.

5. (a) In our opinion and according to information and explanations given to us, transactions that need to be entered into a Register in pursuance of 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 Rs. 500000, 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.

6. The company has not accepted any deposits from the public, attracting the provisions of section 58A and 58AA of the companies Act, 1956 and the Companies (acceptance of Deposits) Rules, 1975.

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

8. We have broadly reviewed the cost records maintained by the company pursuant to the Companies (Cost Accounting Records) Rules, 2011 prescribed by the Central Government under Section 209(l)(d) of the Companies Act, 1956 and are of the opinion that prima facie the prescribed cost records have been maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

9. (a) According to the records of the Company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other statutory dues except Income Tax have been generally regularly deposited with the appropriate authorities.

(b) According to information & explanations given to us, no undisputed amounts payable in respect of aforesaid dues were in arrears, as at 31st March, 2012 for a period of more than six months from the date they become payable and other material statutory dues applicable to it.

10. The Company does not have accumulated losses at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

11. In our opinion and according to explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or bank.

12. According to the information and explanations 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.

13. According to information and explanations given to us the company has not given any guarantee for loans taken by others from bank and financial institutions.

14. The Company has not raised new terms loans during the year. The term loans outstanding at the beginning of the year had been applied for the purposes for which they were raised.

15. According to information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment.

16. 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.

17. The company has not issued any debentures during the year.

18. During the year, the company has not raised any money by way of public issue.

19. 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 information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the financial year, nor have we been informed of such case by the Management.

20. Clauses (xiii), (xiv) of paragraph 4 of the Companies (Auditor's Report) (Amendment) Order, 2004 are not applicable to the Company for the year under audit.

For, Parimal S. Shah & CO. Chartered Accountants FRN : 107591W

(Parimal S. Shah) Proprietor M. No. 38507

Place : Ahmedabad Date : 13th July, 2012


Mar 31, 2010

We have audited the attached Balance Sheet of SUPER CROP SAFE LIMITED as at 31st March, 2010 and the Profit and Loss Account and also 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.

1. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. 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.

2. As required by the Companies (Auditors Report) Order, 2003, as amended by the Companies (Auditors Report) (Amendment) Order 2004. issued by the Central Government in terms of Section 227(4A) of the Companies Act 1956, and on the basis of such checks of the books and records of the Company as we considered appropriate and according to information and explanations given to us. we enclose in the Annexure a statement on the matters specified in paragraph 4 and 5 of the said Order.

Further to our comments in Annexure referred to above. We report that:

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

(b) In our opinion, proper books of Accounts as required by law have been kept by the Company so far as appears from our examinations of the books.

(c) The Balance sheet, profit and loss Account and cash flow statement dealt with by this report are in agreement with the books of account,

(d) Subject to Note 7,12 & 14 of Schedule 15 and 7(a) of Schedule 16, the Balance sheet, profit & loss account and cash flow statement comply with the accounting standards referred to in section 211 (3C) of the Companies Act, 1956.

(e) 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 directors is disqualified as on 31st March 2010 from being appointed as director in terms of clause (g) of sub section (1) of Section 274 of the Companies Act, 1956.

(f) Reference is also invited to the NOTE No 2, of Schedule 15, regarding confirmations from Sundry Debtors and Note No 7(a) of Schedule 16 regarding overstatement of profit by Rs 172180 on account of non capitalizing Government Grant.

(g) Subject to foregoing, in our opinion, and to the best of our information and according to explanations given to us, financial statements read together with notes in schedule -16 give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in confirmity with the accounting principles generally accepted in India:

(i) In case of Balance Sheet of the State of affairs of the company as at 31st March, 2010.

(ii) In case of profit and loss account of the Profit for the year ended on that date and

(iii) In case of Cash flow statement of the cash flows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

RE : SUPER CROP SAFE LIMITED 2009-10 Referred to in Paragraph 3 of our report of even date.

1. (a) The Company has maintained proper records to show full particulars including quan titative details and situations of fixed assets,

(b) As per information given to us, the fixed assets of the company have been physically verified by the management during the year and no material discrepancies were noticed by the management on such verification.

(c) The Company has not disposed off a substantial part of fixed assets during the year.

2. (a) As per information and explanations given to us, physical verification of finished goods, stores , spare parts and raw materials have been conducted by the management at the reasonable intervals.

(b) The procedure of physical verification of stock followed by the management are reasonable and adequate in relation to size of the company and nature of its business.

(c) The Company is maintaining proper records of inventory, discrepancies noticed on physical verification have been properly dealt with in the books of accounts.

3. (a) In our opinion the Company has neither accepted nor granted any secured or unsecured loans from or to the companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.

(b) There being no loans accepted or granted the clauses (b), (c) and (d) are not applicable.

4. In our opinion and according to information and explanations given to us the internal control procedure, for purchase of inventory and fixed assets and for the sale of the goods, is commensurate with the size of the company and nature of its business. During the course of audit, we have not observed any continuing failure to correct major weaknesses in internal control.

5. (a) In our opinion and according to information and explanations given to us, transactions that need to be entered into a Register in pursuance of section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the informations 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 Rs. 500000, 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.

6. The Company has not accepted any deposits from the public, attracting the provisions of section 58A and 58AA of the Companies Act, 1956 and the companies (acceptance of Deposits) Rules, 1975.

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

8. As informed to us, the Central Government has not prescribed maintenance of cost records under section 209(1) (d) of the Companies Act, 1956.

9. (a) The Company is not regular in depositing with appropriate authorities undisputed statutory dues applicable to it including Provident Fund, Income Tax.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, custom duty, excise duty and cess were in arrears, as at 31st March, 2010 for a period of more than six months from the date they become payable and other material statutory dues applicable to it.

(c) According to the information and explanations given to us, there are no disputes for any statuatory dues and hence question of non deposit of dues with appropriate authorities does not arise.

10. In our opinion, the accumulated losses of the Company are not more than fifty percent of its net worth. The Company has incurred cash losses during the financial year covered by this audit and in the financial year immediately preceding such financial year.

11. In our opinoin and according to explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or bank.

12. According to the information and explanations 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.

13. According to information and explanations given to us the Company has not given any guarantee for loans taken by others from bank and financial institutions.

14. The Company has applied the term loans for the purpose for which it was obtained.

15. According to informations and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that on funds raised on short term basis have been used for long term investment.

16. 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 during the year and same is not prejudical to the interest of the company being said pref- erential allotment is in consonance with SEBI (Disclosures and Investor Protection) Guidelines, 2000.

17. The Company has not issued any debentures during the Year.

18. During the year, the Company has not raised any money by way of public issue.

19. During the course of our examination of the books and records of the Company carried out in accordance with generally accepted auditing practices in India and according to informations and explanations given to us we have neither come across any instance of fraud on or by Company, noticed or reported during the financial year, nor have we been informed of such case by the Management.

20. Clauses (xiii), (xiv) of paragraph 4 of the Companies (Auditors Report) (Amend- ment) Order, 2004 are not applicable to the Company for the year under audit.

Place : Ahmedabad For, PARIMAL S. SHAH & CO.,

Date : 03.05.2010 CHARTERED ACCOUNTANTS

(PARIMAL S. SHAH)

PROPRIETOR

M. No. 38507



 
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