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Auditor Report of SVP Global Ventures Ltd.

Mar 31, 2016

Report on Financial Statement

We have audited the accompanying financial statements of SVP Global Ventures Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2016, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

The Company''s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial Statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the act, as applicable. This responsibility also includes maintenance of adequate accounting records in accordance with the preparation 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 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 control 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 financial statements. Our responsibility is to express an opinion on these financial statements based on our audit.

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2016, and its profit/loss and its cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. 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 maintained for the purpose of preparation of these financial statement.

(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) There is no matter described under the emphasis of matters paragraph above, in our opinion, may have an adverse effect on the functioning of the company

(g) On the basis of the written representations received from the directors as on 31st March, 2016 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2016 from being appointed as a director in terms of Section 164

(2) of the Act.

(h) With respect to the adequacy of the Internal Financial Controls over financial reporting of the company and operating effectiveness of such controls, refer to our separate report in Annexure ''A''. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the company''s internal financial controls over financial reporting.

(i) 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.

ii. The Company does not have any long-term contracts including derivative contracts

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

2. As required by the Companies (Auditor''s Report) Order, 2016 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2015, we give in the ''Annexure B'' statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

We have audited the internal financial controls over financial reporting of SVP Global Ventures Limited (''the Company'') as of 31 March 2016.

Management''s Responsibility for Internal Financial Controls

The Company''s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (''ICAI''). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Company''s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors'' Responsibility

Our responsibility is to express an opinion on the Company''s internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the ''Guidance Note'') and the Standards on Auditing, issued by ICAI and deemed to be prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting were established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors'' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company''s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company''s internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company''s internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of the Management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company''s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31 March 2016, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.(c) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

1. In respect of Company''s Fixed Assets:

Reports on Companies (Auditor''s Report) Order, 2016(''the Order'') issued by the Central Government in terms of Section 143(11) of the Companies Act, 2013 (''the Act'') of SVP Global Ventures Limited:

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

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

(c) The title deeds of immoveable properties are held in the company.

2. As explained to us, the Inventories has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. The discrepancies noticed on verification between the physical stocks and the book records were not material.

3. The companies has granted loans to company covered in the register maintained under section 189 of companies Act, 2013.

a). The terms and condition of the grant of such loan are not prejudicial to the company''s Interest.

b). No schedule of repayment of principal and payment of interest has been stipulated.

c). No Schedule of repayment of principal and payment of interest has been stipulated and therefore the question of overdue amounts does not arise. Though Company has informed that the reasonable steps have been taken for recovery of the principal and interest.

4. In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of Section 185 and 186 of the Act in respect of grant of loans, making investments and providing guarantees and securities , as applicable.

5. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits in contravention of Directives issued by Reserve Bank of India and the provisions of section 73 to 76 or any other relevant provisions of the Act and the rules framed there under, where applicable . No order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal.

6. Reporting under clause 3(vi) of the Order is not applicable as the Company''s business activities are not covered by the Companies (Cost Records and Audit) Rules, 2014.

7. According to the information and explanation given to us, in respect of statutory dues:

(a) According to the records of the company the company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, investor education protection fund, employees'' state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, Cess and other material statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, Service Tax, sales tax, custom duty, excise duty and Cess were in arrears, as at 31st March, 2016 for a period of more than six months from the date they became payable,

(c) According to the information and explanations given to us, there are no dues of sales tax, income tax, custom duty, wealth tax, excise duty and Cess that have not been deposited with appropriate authorities on account of any dispute.

8. Based on our audit procedures and according to the information and explanations given to us, we are of the opinion, the company has not defaulted in repayment of dues to a financial institution, bank, Government or dues to debenture holders.

9. The company has not raised moneys by way of initial public offer or further public offer (including debt instrument) and term loans.

10. Based upon the audit procedures performed and according to the information and explanations given to us, no fraud by the company or any fraud on the company by its officers or employees has been noticed or reported during the course of our audit, that causes the financial statements to be materially misstated.

11. In our opinion and according to the information and explanation given to us, the company has not paid any managerial remuneration

12. The company is not a Nidhi Company and hence reporting under clause 3(xii) of the Order is not applicable.

13. Based upon the audit procedures performed and according to the information and explanations given to us, All transactions with related parties are in compliance with sections 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the Financial statements etc. as required by the applicable accounting standards.

14. The company has made preferential allotment during the year under review and the company has complied with provisions of the Act. The funds have been utilized for the purpose it had been raised.

15. The company has not entered into any non-cash transactions with directors or persons connected with him and hence provision of Section 192 of the Act are not applicable.

16. The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.

For Shah Parmar & Mehta.

Chartered Accountants

FRN: 141689W

Sd/-CA. Sanjay Shah,

Partner

Membership No.116251

Date : 30/05/2016

Place : Mumbai


Mar 31, 2015

Report on Standalone Financial Statement

We have audited the accompanying financial statements of SVP Global Ventures Limited (Formerly known as Scenario Media Limited) ("the Company") and its subsidiaries, which comprise the Balance Sheet as at March 31, 2015, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the 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 preparation 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 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 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 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 control 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 qualified audit opinion on the standalone financial statements. Our responsibility is to express an opinion on these consolidated 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 consolidated financial statements are free from material misstatement.

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

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

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the 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/loss and its cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2015, we give in the Annexure a statement on the matters specified in paragraphs 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, 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;

ii. The Company has not entered into any long-term contracts including derivative contracts.

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

The Annexure referred to in our Report of even date to the members of SVP Global Ventures Limited (Formerly known as Scenario Media Limited) on the accounts of the company for the year ended 31st March, 2015.

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

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

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

(c) In our opinion and according to the information and explanations given to us, no fixed asset has been disposed during the year and therefore does not affect the going concern assumption.

2. (a) As explained to us, the Inventories has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) In our opinion and according to the information and explanation given to us, the procedures of physical verification of Inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its Business.

(c) In our opinion and according to the information and explanation given to us, the Company has maintained proper records of its Inventories. The discrepancies noticed on verification between the physical stocks and the book records were not material.

3. 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 New Act. Therefore, the provisions of the said order are not applicable to the Company.

4. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fixed assets and payment for expenses & for sale of goods and sale of services. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

5. The company has not accepted any deposit from public.

6. The Central Govt of India has not prescribed the maintenance of cost record under section 148(1) of the Act for any of the Services rendered by the company.

7. In respect of statutory dues

(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, Custom Duty, Excise Duty, cess to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there is no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty which have not been deposited on account of any disputes.

(c) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

8. The Company does not have any accumulated losses at the end of the financial year and it has not incurred cash losses in the financial year and in the immediately preceding financial year.

9. The company did not have any outstanding dues to any financial institution, banks or debenture holder during the year.

10. 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 and banks or financial institutions.

11. The company did not have any term loans outstanding during the year.

12. According, to the information and explanations given to us, no material fraud on or by the company has been noticed or reported during the course of audit.

For Sanjay N. Shah & Co.

Chartered Accountants

FRN:124897W

Sd/-

Date : 30st May, 2015 CA. Sanjay Shah, Proprietor

Place : Mumbai Membership No.116251


Mar 31, 2014

We have audited the accompanying financial statements of SVP Global Ventures Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss for the year then ended, and a summary of significant accounting policies and other explanatory information, which we have signed under reference to this report.

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 flow of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act").read with the general circular 15/2013 dated 13 september 2013,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 misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

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

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

b) in the case of the Profit and Loss Account, of the profit for the year ended on that date. b) in the case of the Cash flow,Statement of the cash flow for the year ended on that date

Report on Other 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 dealt with by this Report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, Statement of Profit and Loss comply with the Accounting Standard Notified under the act read with the general circular 15/2013 dated 13 september 2013 issued by the ministry of corporate affaire 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.

The Annexure referred to in our Report of even date to the members of SVP Global Ventures Limited on the accounts of the company for the year ended 31st March, 2014

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

1. In respect of its fixed assets

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

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

(c) In our opinion and according to the information and explanations given to us, no fixed asset has been disposed during the year and therefore does not affect the going concern assumption.

2. In respect of its Inventories

(a) As explained to us, the Inventories has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) In our opinion and according to the information and explanation given to us, the procedures of physical verification of Inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its Business.

(c) In our opinion and according to the information and explanation given to us, the Company has maintained proper records of its Inventories. The discrepancies noticed on verification between the physical stocks and the book records were not material.

3. (a) In our opinion and according to the information and explanation given to us the rate of interest and other terms and conditions on which the loan have been granted are not prima facie prejudicial to the interest of the company.

(b) The Company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. The parties had repaid principal and interest amounts wherever stipulated.

(c) The Company has given loan to companies, Firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956.

(d) The Company has taken loan from the companies, Firm, Party covered in the register maintained under section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fixed assets and payment for expenses & for sale of goods. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

5. In respect of Transaction

(a) According to the information and explanations provided by the management, we are of the opinion that the particular of contract or arrangement referred to in section 301 of the Companies Act, 1956, that need to be entered into the register maintained under section 301 have been so entered.

(b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contract or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding rupees five lakhs each 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 covered under section 58A and 58AA of the Companies Act, 1956.

7. The company does not have an internal audit system.

8. The Central Govt of India has not Prescribed the maintenance of cost record under section 209(1) (d) of the Act for any of the Services rendered by the company

9. In respect of statutory dues

(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, Custom Duty, Excise Duty, cess to the extent applicable and any other statutory dues have generally been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2014 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there is no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty which have not been deposited on account of any disputes.

10. The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current financial year.

11. The company did not have any outstanding dues to any financial institution, banks or debenture holder during the year

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

13. The Company is not a chit fund or a nidhi /mutual benefit fund/society. Therefore, the provision of this clause of the Companies (Auditor’s Report) Order, 2003 (as amended) is not applicable to the Company.

14. The Company has maintained proper records with regards to its transactions and contracts in respects of investments in shares and other securities and timely entries have been made therein. All these shares and other securities have been held by the company in its own name, except to the extent of exemption granted under Section 49 of the Companies Act, 1956 and for certain shares which are lodged for transfer or held with valid transfer forms.

15. According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.

16. The Company did not have taken any term loans outstanding during the year.

17. The company has not raised any fund on short term basis.

18. Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has received equity share application money towards preferential allotment of shares during the year from parties and companies (Scenario Communication Pvt Ltd) pending allotment of Rs 6,81,75,000/- covered in the register maintained under sec.301 of the Act.

19. The company did not have any outstanding debenture during the year.

20. The Company has not raised any money by Public Issue during the year.

21 According to the information and explanations given to us, based upon the audit procedures performed and representations made by the management, we report that no material fraud on or by the Company has been noticed or reported during the course of our Audit.

For Sanjay N. Shah & Co. Chartered Accountants FRN:124897W

Sd/-

Date: 31st May 2014 CA. Sanjay Shah, Proprietor Place : Mumbai Membership No.116251


Mar 31, 2013

Report on the Financial Statements

1.We have audited the accompanying financial statements of M/s. SVP Global Ventures Ltd. which comprise the Balance Sheet as at 31st March, 2013, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

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

1. 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.

2. 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.

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

Opinion

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

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

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 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 and proper returns adequate for the purposes of our audit have been received from branches not visited by us;

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 [and with the returns received from branches not visited by us;

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

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

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

g) Attention is drawn on the following point:

That the balance of debtors, creditors, loans and advances are subject to confirmation by respective parties.

ANNEXURE Referred to in para 1 of our report of even date: -

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

(b) The fixed assets have been physically verified by the management and no material

discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, no substantial part of fixed assets have been disposed off by the Company during the year.

(ii) (a) Physical verification has been conducted by the management at reasonable intervals in respect of inventory. (b) In our opinion the procedure of physical verification of inventory followed by the management is reasonable and adequate in relation to the size of the company and nature of the business.

(c) In our opinion and according to information and explanation given to us the company is maintaining proper records of inventory.

(d) No material discrepancies have been noticed on physical verification of stocks as compared to books and records.

(iii) (a) The Company has taken loans from two parties listed in registers maintained under section 301 of the Act. In our opinion, the rate of interest and other terms and conditions of such loans are not prima facie, prejudicial to the interest of the company. The Company has also given loan to the company listed in register maintained under section 301 of the Companies Act, 1956. In our opinion in the absence of specified terms and conditions we are unable to comment whether there are prima facie prejudicial to the interest of company.

(iv) In our opinion & according to the information & explanations given to us, there are internal control procedures commensurate with size of the company & the nature of its business with the regard to purchase of inventory and fixed assets and for the sale of goods.

(v) (a) In our opinion & according to the information & explanations given to us, the transactions that need to be entered into the Register maintained under section 301 of the Act, have been so entered.

(b) In our opinion & according to the information & explanations given to us, transactions made in pursuance of contracts or arrangements entered into the register in pursuance of Section 301 of the Act, and exceeding the value Rupees five lacs in respect of any party during the year have been made at prices which are reasonable having regards to the prevailing market prices at the relevant time.

(vi) The Company has not accepted Deposits from the public. The directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Companies Act 1956 and the Companies (Acceptance of Deposits) Rules 1975 are not applicable to the Company.

(vii) In our opinion, the Company have adequate internal audit system commensurate with the size and nature of it''s business.

(viii) The provisions relating to the maintenance of Cost Records u/s 209(1 )(d) of the Companies Act, 1956 is not applicable to the Company.

(ix) (a) According to the information and explanations given to us and records of the company examined by us, in our opinion, the company is regular in depositing undisputed statutory dues in respect of profession tax, income-tax, investor education and protection fund, wealth tax, cess and other material statutory dues as applicable, with the appropriate authorities.

(b) According to the information and explanation given to us no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, and Excise duty were outstanding as at 31st March, 2013 for a period of more than 6 months from the date they become payable.

(c) According to the information and explanation given to us there is no disputed amount of Income Tax/Wealth Tax/Sales Tax/Custom Duty/Excise duty and cess

(x) The Company has no accumulated losses and the company has not incurred any cash losses during the financial year carried by our audit and the immediately preceding financial year.

(xi) The Company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.

(xii) In our opinion & according to the information & explanations given to us the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) The Company is not a Chit fond, nidhi, mutual benefit fond or a society.

(xiv) In our opinion & according to the information & explanations given to us the company is not dealer or trader in shares and securities.

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

(xvi) The Company has not obtained any term loans.

(xvii) According to the information given to us, the company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Act.

(xviii) According to records examined by us and the information and explanations given to us, on an overall basis, funds raised on short term basis have, prima facie, not been used during the year for long term investment and vice versa.

(xix) The Company has not issued any debenture.

(xx) The Company has not raised any money by any public issue.

(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 fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.



For MURARILAL AGARWAL & ASSOCIATES

Chartered Accountants



Sd/-

Proprietor

M.No.34399



Place : Mumbai

Date :30th May, 2013


Mar 31, 2012

(1) We have audited the attached Balance sheet of M/S. SVP Global Ventures Limited (Formerly known as Scenario Media Ltd). As at 31st March 2012 and also the Profit & Loss Account and Cash Flow Statement of the Company for the year ended on that date annexed thereto. These financial statements are responsibility of the company management. Our responsibility is to express an opinion on these financial statements based on our audit.

(2) We conducted our audit in accordance with auditing 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

(a) examining, on a test basis, evidence to support the financial statement amounts and disclosures in the financial statement

(b) assessing the accounting principles used in the preparation of financial statements

(c) assessing significant estimates made by the management in the preparation of the financial statements, and,

(d) Evaluating 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 the paragraph 4 and 5 of the said order.

(4) Further we report that:

(a) During the year the company has reduced the rate of depreciation on brand and copy right from 10% to 5% on Straight Line Basis, consequent upon that profit is overstated by Rs. 7,97,747/- and also assets is overstated by the same amount.

(b) 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;

(c) 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 the books of the company;

(d) The Balance Sheet ,the Profit and Loss Account and cash flow statement referred to in this report are in agreement with the books of account of the Company;

(e) In our opinion, the accounts comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 Except as listed in clause (f) below.

(f) On the basis of written representations received from the directors, and taken on record by the Board of Directors, in our opinion, non of the directors is disqualified from being appointed as director u/s 274(l)(g) of Companies Act, 1956;

(g) Attention is drawn on the following points:

That balances of debtors. Creditors, loans & advances are subject to confirmation by the respective parties.

(h) In our opinion and to the best of our information and according to the explanations given to us, the said Balance Sheet and Profit & Loss Account, together with other notes thereon, subject to note (4) (a) above, 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 the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012, and

(ii) In the case of the Profit and Loss Account, of the profit of the Company for the year ended on that date.

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

Referred to in para 1 of our report of even date: -

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

(b) The fixed assets have been physically verified by the management and no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, no substantial part of fixed assets have been disposed off by the Company during the year.

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

(b) In our opinion the procedure of physical verification of inventory followed by the management is reasonable and adequate in relation to the size of the company and nature of the business.

(c) In over opinion and according to information and explanation given to us the company is maintaining proper records of inventory.

(d) No material discrepancies have been noticed on physical verification of stocks as compared to books and records.

(iii) (a) The Company has taken loans from twelve parties listed in registers maintained under section 301 of the Act. In our opinion, the rate of interest and other terms and conditions of such loans are not prima fade, prejudicial to the interest of the company. The Company has also given loan to the company listed in register maintained under section 301 of the Companies Act, 1956. In our opinion in the absence of specified terms and conditions we are unable to comment whether there are prima facie prejudicial to the interest of company.

(iv) In our opinion & according to the information & explanations given to us, there are internal control procedures commensurate with size of the company & the nature of its business with the regard to purchase of inventory and fixed assets and for the sale of goods.

(v) (a) In our opinion & according to the information & explanations given to us, the transactions that need to be entered into the Register maintained under section 301 of the Act, have been so entered.

(b) In our opinion & according to the information & explanations given to us, transactions made in pursuance of contracts or arrangements entered into the register in pursuance of Section 301 of the Act, and exceeding the value Rupees five lacs in respect of any party during the year have been made at prices which are reasonable having regards to the prevailing market prices at the relevant time.

(vi) The Company has not accepted Deposits from the public. The directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Companies Act 1956 and the Companies (Acceptance of Deposits) Rules 1975 are not applicable to the company.

(vii) In our opinion, the company have adequate internal audit system commensurate with the size and nature of it's business.

(viii) The provisions relating to the maintenance of Cost Records u/s 209(l)(d) of the Companies Act, 1956 is not applicable to the Company.

(ix) (a) According to the information and explanations given to us and records of the company examined by us, in our opinion, the company is regular in depositing undisputed statutory dues in respect of profession tax, income-tax, investor education and protection fund, wealth tax, cess and other material statutory dues as applicable, with the appropriate authorities.

(b) According to the information and explanation given to us no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, and Excise duty were outstanding as at 31st March, 2012 for a period of more than 6 months from the date they become payable.

(c) According to the information and explanation given to us there is no disputed amount of Income Tax/Wealth Tax/Sales Tax/Custom Duty/Excise duty and cess

(x) The Company has no accumulated losses and the company has not incurred any cash losses during the financial year carried by our audit and the immediately preceding financial year.

(xi) The Company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.

(xii) In our opinion & according to the information & explanations given to us the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) The Company is not a Chit fund, nidhi, mutual benefit fund or a society.

(xiv) In our opinion & according to the information & explanations given to us the company is not dealer or trader in shares and securities.

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

(xvi) The Company has not obtained any term loans.

(xvii) According to the information given to us, the company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Act.

(xviii) According to records examined by us and the information and explanations given to us, on an overall basis, funds raised on short term basis have, prima facie, not been used during the year for long term investment and vice versa.

(xix) The Company has not issued any debenture.

(xx) The Company has not raised any money by any public issue.

(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 fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For MURARILAL AGARWAL

Chartered Accountants

Sd/-

Proprietor

M.No. 34399

Place: Mumbai

Date: 05/09/2012


Mar 31, 2010

(1) We have audited the attached Balance sheet of M/S. SCENARIO MEDIA LIMITED, as at 31st March 2010 and also the Profit & Loss Account and Cash Flow Statement of the Company for the year ended on that date annexed thereto. These financial statements are responsibility of the company management. Our responsibility is to express an opinion on these financial statements based on our audit.

(2) We conducted our audit in accordance with auditing 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

(a) examining, on a test basis, evidence to support the financial statement amounts and disclosures in the financial statement

(b) assessing the accounting principles used in the preparation of financial statements

(c) assessing significant estimates made by the management in the preparation of the financial statements, and,

(d) evaluating overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

(3) As required by the Companies (Auditors 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 the paragraph 4 and 5 of the said order.

(4) Further 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 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 the books of the company;

(c) The Balance Sheet , the Profit and Loss Account and cash flow statement referred to in this report are in agreement with the books of account of the Company;

(d) In our opinion, the accounts comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 Except as listed in clause (f) below.

(e) On the basis of written representations received from the directors, and taken on record by the Board of Directors, in our opinion, non of the directors is disqualified from being appointed as director u/s 274(1 )(g) of Companies Act, 1956;

(f) Attention is drawn on the following point

That balances of debtors. Creditors, loans & advances are subject to confirmation by the respective parties.

(g) In our opinion and to the best of our information and according to the explanations given to us, the said Balance Sheet and Profit & Loss Account, together with other 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: -

(i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2010, and

(ii) In the case of the Profit and Loss Account, of the profit of the Company for the year ended on that date.

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

ANNEXURE

Referred to in para 1 of our report of even date: -

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

(b) The fixed assets have been physically verified by the management and no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, no substantial part of fixed assets have been disposed off by the Company during the year.

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

(b) In our opinion the procedure of physical verification of inventory followed by the management is reasonable and adequate in relation to the size of the company and nature of the business.

(c) In our opinion and according to the information and explanation given to us the Company is maintaining proper records of inventory.

(d) No material discrepancies have been noticed on physical verification of stocks as compared to books and records.

(iii) (a) The Company has taken loans from nine parties listed in registers maintained under section 301 of the Act. In our opinion, the rate of interest and other terms and conditions of such loans are not prima facie, prejudicial to the interest of the company. The Company has also given loan to the company listed in register maintained under section 301 of the Companies Act, 1956. In our opinion in the absence of specified terms and conditions we are unable to comment whether there are prima facie prejudicial to the interest of company.

(iv) In our opinion & according to the information & explanations given to us, there are internal control procedures commensurate with size of the company & the nature of its business with the regard to purchase of inventory and fixed assets and for the sale of goods.

(v) (a) In our opinion & according to the information & explanations given to us, the transactions that need to be entered into the Register maintained under section 301 of the Act, have been so entered.

(b) In our opinion & according to the information & explanations given to us, transactions made in pursuance of contracts or arrangements entered into the register in pursuance of Section 301 of the Act, and exceeding the value Rupees five lacs in respect of any party during the year have been made at prices which are reasonable having regards to the prevailing market prices at the relevant time.

(vi) The Company has not accepted Deposits from the public. The directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Companies Act 1956 and the Companies (Acceptance of Deposits) Rules 1975 are not applicable to the Company .

(vii) In our opinion, the company have adequate internal audit system commensurate with the size and nature of its business.

(viii) The provisions relating to the maintenance of Cost Records u/s 209(1 )(d) of the Companies Act, 1956 is not applicable to the Company.

(ix) (a) According to the information and explanations given to us and records of the company examined by us, in our opinion, the company is regular in depositing undisputed statutory dues in respect of profession tax, income-tax, investor education and protection fund, wealth tax, cess and other material statutory dues as applicable, with the appropriate authorities.

(b) According to the information and explanation given to us no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, and Excise duty were outstanding as at 31st March, 2010 for a period of more than 6 months from the date they become payable.

(c) According to the information and explanation given to us there is no disputed amount of Income Tax/Wealth Tax/ Sales Tax/ Custom Duty/Excise duty and Cess.

(x) The Company has no accumulated losses and the company has not incurred any cash losses during the financial year covered by our audit and the immediately preceeding financial year.

(xi) The Company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.

(xii) In our opinion & according to the information & explanations given to us the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) The Company is not a Chit fund, nidhi, mutual benefit fund or a society.

(xiv) In our opinion & according to the information & explanations given to us the company is not a dealer or trader in shares and securities.

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

(xvi) The Company has not obtained any term loans.

(xvii) The Company has not obtained any short term loans.

(xviii) According the information and explanation given to us and on over all examination of Balance Sheet of the Company, no fund raised on short term basis has been used for long term investment.

(xix) According to the information given to us, the company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Act.

(xx) According to records examined by us and the information and explanations given to us, on an overall basis, funds raised on short term basis have, prima facie, not been used during the year for long term investment and vice versa.

(xxi) The Company has not issued any debenture.

(xxii) The Company has not raised any money by any public issue.

(xxiii) 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 fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.



For MURARILAL AGARWAL

Chartered Accountant

Sd/-

Murarilal Agarwal

Proprietor

M.NO.34399

Place: Mumbai

Date : 04/09/2010

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