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Auditor Report of Trijal Industries Ltd.

Mar 31, 2014

We have audited the accompanying Financial Statements of TRIJAL INDUSTRIES LIMITED (“The Company”) which comprises the Balance Sheet as on 31st March, 2014, the statement of Profit and Loss Account and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s responsibility for Financial Statements

The company''s Management is responsible for preparation of these financial statements that give 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 section 211(3)(C) of the Companies Act, 1956 ( the “Act”) and in accordance with the accounting principles generally accepted in India. The responsibility includes the design, implementation and maintenance of the 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.

3. Auditors Responsibility

3.1 Our responsibility is to express an onion 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 statement are free from material misstatement

3.2 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 judgement, 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 polices used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

4. Opinion

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

(a) In the case of the Balance Sheet, of the State of Affairs of the Company as at 31st march, 2014;

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

(c) In the case of the Cash Flow statement, of the Cash Flows for the year ended on that date

5. Report on other Legal mandatory Regulatory Requirements

As required by Companies (Auditors Report) Order, 2003 issued by the Central Government of India, in terms of section 227 (4A) of the Companies Act, 1956, vide notification No.G.S.R-766 (E) dated 25 November, 2004 (CARO) and on the basis of such checks of the Books of Accounts and records of the Company, as we considered appropriate and according to the information and explanations given to us, we enclose in the annexure a Statement on the matters specified in the said order.

As required by Section 227(3) of the Act, we report that,

1. (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, books of accounts as required by law have been kept by the company, so far as, appears from our examination of the books.

(c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with books of accounts.

(d) In our opinion, the Balance sheet, Profit & Loss Account and Cash Flow Statement, dealt with by this report comply with the Mandatory Accounting Standards, to the extent applicable, specified by the I.C.A.I. referred to in Sub Section (3) (c) of Section 211 of the Companies Act, 1956

(e) On the basis of written representations received from the Directors, as on 31st March, 2014, and taken on record by the Board of Directors,

We report that none of the Directors of the Company 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.

2. For Accounting for Taxes on Income as per Accounting Standard 22 issued by ICAI, Please refer to Item No. 2(e) of Notes on Account forming Part of the Report.

Annexure to the Auditors Report referred to in our report of even date:

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

(b) The company has physically verified Fixed Assets, at reasonable intervals and no material discrepancies were noticed on such verification.

(c) No substantial part of the Fixed Assets has been disposed off during the year.

2. (a) The Inventory has been physically verified by the management at reasonable intervals during the year.

(b) 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 its business.

(c) The Company is maintaining proper records of Inventory and the discrepancies noticed on verification between the physical stock and the book records were not material and the same have been properly dealt with in the books of accounts.

3. The company has not taken / granted unsecured loans, to/ from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Accordingly, provisions of clause 4 (iii) (b) to (g) of the Order are not applicable.

4. In our opinion, and according to explanation given to us, there is adequate Internal Control procedure commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories, fixed assets and for the sale of goods and services. There is no continuing failure to correct weakness in internal control system.

5. According to the information and explanations given to us, we are of the opinion that there are no transactions that need to be entered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly provisions of clause 4(v) (b) of the Order are not applicable.

6. According to the information and explanation given to us, during the year under review, the Company has not accepted any Deposits from the Public and hence provisions of section 58A and 58AA of the Companies Act, 1956 and Rules framed there under are not applicable.

7. According to information given to us, the company is in the process of establishing Internal Audit system, commensurate with the size of the company.

8. We have been informed that the maintenance of Cost Records has not been prescribed by the Central Government under section 209(1) (d) of the Companies Act, 1956 for any of the products of the company.

9. a) According to the records of the Company, Provident Fund, Investor Education and Protect Fund, ESIC, Wealth Tax, Custom Duty, Excise Duty, Cess, Income Tax, Service Tax etc. dues have been regularly deposited, wherever applicable, during the period with the appropriate authorities, for all undisputed statutory dues as applicable.

(b) There are no disputed statutory liabilities during the period covered under this Audit.

10. The Clause of accumulated losses etc. is not applicable to the company.

11. We have observed that the company has not defaulted in repayment of Dues to Bank or financial institution, since no loan has been obtained from any Bank by the Company.

12. Company has not granted Loans & Advances on the basis of security etc. hence no discrepancies thereof, arise.

13. The Provisions of Nidhi / Mutual benefit Fund/ Society etc. are not applicable to the Company. Hence Clauses (a) to (d) are not applicable.

14. Company has maintained proper records for Securities and Debentures as required.

1. Company has not given any Guarantee for loans taken by others and hence other provision are not applicable.

2. Company has not obtained any loan from Banks / Financial Institution and hence application of loan for specific purpose clause is not applicable.

3. Company has not used short term funds for long term investments.

4. No preferential Allotment of shares etc. has not been made by the Company; hence other clauses are not applicable.

5. No Debentures are issued by the Company during the year under audit.

6. The company has not raised money by Public issue, during the year under audit.

7. According to the Explanation and Information given by the Company and on checking we did not come across any instance of fraud on or by the Company during the year 2013 - 2014.

For DAGDULAL K JAIN & CO.

CHARTERED ACCOUNTANTS.

Sd/-

D. K. Jain.

(Partner). Membership no. 015929. F.R.N. - 101995W DATE: 30th MAY, 2014. PLACE: Thane.


Mar 31, 2012

We have audited the attached Balance Sheet of TRIJAL INDUSTRIES LIMITED as on 31st March, 2012, and also the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management- Our responsibility is to express an opinion on these financial statements, based on our audit.

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 statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by Companies (Auditors Report) Order, 2003 issued by the Central Government of India, in terms of section 227 (4A) of the Companies ¦ Act, 1956, vide notification No.G.S.R-766 (E) dated 25 November, 2004 (CARO) and on the. basis of such checks of the books of Accounts and records of the Company, as we considered appropriate and according to the information and explanations given to us, we enclose in the annexure a Statement on the matters specified in the said order.'

Further to our comments in the Annexure referred to above, we Report that:

2. (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, books of accounts as required by law have been kept by the company, so far as, appears from our examination of the books.

(c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with books of accounts.

(d) In our opinion, the Balance sheet, Profit & Loss Account and Cash Flow Statement, dealt with by this report comply with the mandatory Accounting Standards, to the extent applicable, specified by the I.C.A.I, referred to in Sub Section (3) (c) of Section 211 of the Companies Act, 1956.

(e) On the basis of written representations 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 of the Company 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.

3. For Accounting for Taxes on Income as per Accounting Standard 22 issued by ICAL Please refer to Item No. 2(e) of Notes on Account forming Part of the Report.

4. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with Schedule " 1 The other Significant Accounting Policies and the Notes thereon, give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view.

a. In the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2C12.

AND

b. In the case of the Profit 56 Loss Account, of the PROFIT of the Company for the year ending on that date.

AND

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

ANNEXURE TO THE AUDITORS REPORT

Referred to in paragraph 1 of our Report of even date of TRIJAL INDUSTRIES LTD. as at 31st March, 2012.

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

(b) The company has physically verified Fixed Assets, at reasonable intervals and no material discrepancies were noticed on such verification.

(c) No substantial part of the Fixed Assets has been disposed off during the year.

2. (a) The Inventory has been physically verified by the management at reasonable intervals during the year.

(b) 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 its business.

(c) The Company is maintaining proper records of inventory and the discrepancies noticed on verification between the physical stock and the book records were not material and the same have been properly dealt with in the books of accounts.

3. The company has not taken / granted unsecured loans, to/ from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1936. Accordingly, provisions of clause 4 (iii) (u) to (g| of the Older axe not applicable.

4. In our opinion, and according to explanation given to us, there is adequate internal control procedure commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories, fixed assets and for the sale of goods and services. There is no continuing failure to correct weakness in internal control system.

5. According to the information and explanations given to us, we are of the opinion that there are no transactions that need to be entered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly provisions of clause 4(v) (b) of the order are not applicable.

6. According to the information and explanation given to us, during the year under review, the company has not accepted any Deposits from the Public and hence provisions of section 58A and 58AA of the Companies Act, 1956 and Rules framed there under are not applicable.

7. According to information given to us, the company is in the process of establishing internal audit system, commensurate with the size of the company.

8. We have been informed that the maintenance of Cost Records has not been prescribed by the Central Government under section 209(1) (d) of the Companies Act, 1956 for any of the products of the company.

9. (a) According to the records of the Company, Provident Fund, Investor Education and Protect Fund, ESIC, Wealth Tax, Custom Duty, Excise Duty, Cess, Income Tax, Service Tax etc. dues have been regularly deposited, wherever applicable, during the period with the appropriate authorities, for all undisputed statutory dues as applicable.

(b) There are no disputed statutory liabilities during the period covered under this Audit.

10. The Clause of accumulated losses etc. is not applicable to the company.

11. We have observed that the company has not defaulted in repayment of Dues to Bank or financial institution, since no loan has been obtained from any Bank by the Company.

12. Company has not granted loans & Advances on the basic of security etc. hence no discrepancies thereof, arise.

13. The Provisions of Nidhi / Mutual benefit Fund/ Society etc. are not applicable to the Company. Hence Clauses (a) to (d) are not applicable.

14. Company has maintained proper records for securities and Debentures as required.

15. Company has not given any Guarantee others and hence other provision are not applicable.

16. Company has not obtained any loan from Banks / Financial Institution and hence application of loan for specific purpose clause is not applicable.

17. Company has not used short term funds for long term investments.

18. No preferential Allotment of shares etc. has not been made by the Company, hence other clauses are not applicable.

19. No Debentures are issued by the Company during the year under audit.

20. The company has not raised money by Public issue, during the year under audit.

21. According to the explanation and Information given by the Company and on checking we did not come across any stance of fraud on or by the Company during the vear 2011-2012.

For DAGDULAL K JAIN & CO.

CHARTERED ACCOUNTANTS.

D. K. Jam.

(Partner).

Membership no. 015929.

F.R.N.-101995W

DATE :31st AUGUST,20l2.

PLACE: Thane.


Mar 31, 2011

We have audited the attached Balance Sheet of TRIJAL INDUSTRIES LIMITED as on 31st March, 2011, and also the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements, based on our audit.

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 statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by Companies (Auditors Report) Order, 2003 issued by the Central Government of India, in terms of section 227 (4A) of the Companies Act, 1956, vide notification No.G.S.R-766 (E) dated 25 November, 2004 (CARO) and on the basis of such checks of the books of Accounts and records of the Company, as we considered appropriate and according to the information and explanations given to us, we enclose in the annexure a Statement on the matters specified in the said order.

Further to our comments in the Annexure referred to above, we Report that:

2. (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, books of accounts as required by law have been kept by the company, so far as, appears from our examination of the books.

(c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with books of accounts.

(d) In our opinion, the Balance sheet, Profit & Loss Account and Cash Flow Statement, dealt with by this report comply with the mandatory Accounting Standards, to the extent applicable, specified by the I.C.A.I. referred to in Sub Section (3) (c) of Section 211 of the Companies Act, 1956.

(e) On the basis of written representations received from the Directors, as on 31st March, 2011, and taken on record by the Board of Directors, we report that none of the directors of the Company is disqualified as on 31st March, 2011, from being appointed as Director in terms of clause (g) of sub-section (1) of section 274, of the Companies Act, 1956.

3. For Accounting for Taxes on Income as per Accounting Standard 22 issued by ICAI, Please refer to Item No. 2(e) of Notes on Account forming Part of the Report.

4. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with schedule " I " The other Significant Accounting Policies and the Notes thereon, give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view.

a. In the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2011.

AND

b. In the case pf the Profit & Loss Account, of the PROFIT of the Company for the year ending on that date.

AND

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

ANNEXURE TO THE AUDITORS REPORT

Referred to in paragraph 1of our Report of even date of TRIJAL INDUSTRIES LTD. as at 31st March, 2011.

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

(b) The company has physically verified Fixed Assets, at reasonable intervals and no material discrepancies were noticed on such verification.

(c) No substantial part of the Fixed Assets have been disposed off during the year.

2. (a) The Inventory has been physically verified by the management at reasonable intervals during the year.

(b) 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 its business.

(c) The Company is maintaining proper records of inventory and the discrepancies noticed on verification between the physical stock and the book records were not material and the same have been properly dealt with in the books of accounts.

3. The company has not taken / granted unsecured loans, to/ from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Accordingly, provisions of clause 4 (iii) (b) to (g) of the Order are not applicable.

4. In our opinion, and according to explanation given to us, there is adequate internal control procedure commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories, fixed assets and for the sale of goods and services. There is no continuing failure to correct weakness in internal control system.

5. According to the information and explanations given to us, we are of the opinion that there are no transactions that need to be entered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly provisions of clause 4(v) (b) of the Order are not applicable.

6. According to the information and explanation given to us, during the year under review, the company has not accepted any Deposits from the Public and hence provisions of section 58A and 58AA of the Companies Act, 1956 and Rules framed there under are not applicable.

7. According to information given to us, the company is in the process of establishing internal audit system, commensurate with the size of the company.

8. We have been informed that the maintenance of cost records has not been prescribed by the Central Government under section 209(1) (d) of the Companies Act, 1956 for any of the products of the company.

9. (a) According to the records of the Company, Provident Fund, Investor Education and Protect Fund, ESIC, Wealth Tax, Custom Duty, Excise Duty, Cess, Income Tax, etc. dues have been regularly deposited, wherever applicable, during the period with the appropriate authorities, for all undisputed statutory dues as applicable, except one payment of service Tax for Rs.1, 41,721/- which is due for more then past one year as on 31-03-2011.

(b) There are no disputed statutory liabilities during the period covered under this Audit.

10. The Clause of accumulated losses etc is not applicable to the company.

11. We have observed that the company has not defaulted in repayment of Dues to Bank or financial institution, since no loan has been obtained from any Bank by the Company.

12. Company has not granted loans & Advances on the basis of security etc. hence no discrepancies thereof arise.

13. The Provisions of Nidhi / Mutual benefit Fund/ Society etc. Are not applicable to the Company. Hence Clause (a) to (d) are not applicable.

14. Company has maintained proper records for securities and Debentures as required.

15. Company has not given any Guarantee for loans taken by others and hence other provision are not applicable.

16. Company has not obtained any loan from Banks / Financial Institution and hence application of loan for specific purpose clause is not applicable.

17. Company has not used short term funds for long term investments.

18. No preferential Allotment of shares etc. has not been made by the Company; hence other clauses are not applicable.

19. No Debentures are issued by the Company during the year under audit.

20. There was no raising of money by Public issue, during the year under audit.

21. According to the explanation and Information given by the Company and on checking we did not come across any instance of fraud on or by the Company during the year 2010-2011.

For DAGDULAL K JAIN & CO. CHARTERED ACCOUNTANTS.

D. K. Jain.

(Partner).

Membership no. 015929.

F.R.N. 101995W

DATE : 22nd AUGUST , 2011. PLACE: Thane.


Mar 31, 2010

We have audited the attached Balance Sheet of TRIJAL INDUSTRIES LIMITED as on 31st March, 2Q10, and also the Profit & Loss Account 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 oh our audit.

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 statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by Companies (Auditors Report) Order, 2003 issued by the Central Government of India, in terms of section 227 (4A) of the Companies Act, 1956, vide notification No.G.S.R-766 (E) dated 25 November, 2004 (CARO) and on the basis of such checks of the books of Accounts and records of the Company, as we considered appropriate and according to the information and explanations given to us, we enclose in the annexure a Statement on the matters specified in the said order.

Further to our comments in the Annexure referred to above, we Report that:

2. (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, books of accounts as required by law have been kept by the company, so far as, appears from our examination of the books.

(c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with books of accounts.

(d) In our opinion, the Balance sheet, Profit & Loss Account and Cash Flow Statement, dealt with by this report comply with the mandatory Accounting Standards, to the extent applicable, specified by the I.C.A.I. referred to in Sub Section (3) (c) of Section 211 of the Companies Act, 1956.

(e) On the basis of written representations 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 of the Company 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.

3. For Accounting for Taxes on Income as per Accounting Standard 22 issued by ICAI, Please refer to Item No. 2(e) of Notes on Account forming Part of the Report.

4. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with schedule " I " The other Significant Accounting Policies and the Notes thereon, give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view.

a. In the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2010.

AND

b. In the case pf the Profit & Loss Account, of the PROFIT of the Company for the year ending on that date.

AND

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

ANNEXURE TO THE AUDITORS REPORT

Referred to in paragraph 1 of our Report of even date of TRIJAL INDUSTRIES LTD. as at 31st March, 2010.

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

(b) The company has physically verified Fixed Assets, at reasonable intervals and no material discrepancies were noticed on such verification.

(c) No substantial part of the Fixed Assets have been disposed off during the year.

2. (a) The Inventory has been physically verified by the management at reasonable intervals during the year.

(b) 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 its business.

(c) The Company is maintaining proper records of inventory and the discrepancies noticed on verification between the physical stock and the book records were not material and the same have been properly dealt with in the books of accounts.

3. The company has not taken / granted unsecured loans, to/ from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Accordingly, provisions of clause 4 (iii) (b) to (g) of the Order are not applicable.

4. In our opinion, and according to explanation given to us, there is adequate internal control procedure commensurate with the size of the Company and the nature of its business with regard to the purchase of inventories, fixed assets and for the sale of goods and services. There is no continuing failure to correct weakness in internal control system.

5. According to the information and explanations given to us, we are of the opinion that there are no transactions that need to be entered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly provisions of clause 4(v) (b) of the Order are not applicable.

6. According to the information and explanation given to us, during the year under review, the company has not accepted any Deposits from the Public and hence provisions of section 58A and 58AA of the Companies Act, 1956 and Rules framed there under are not applicable.

7. According to information given to us, the company is in the process of establishing internal audit system, commensurate with the size of the company.

8. We have been informed that the maintenance of cost records has not been prescribed by the Central Government under section 209(1) (d) of the Companies Act, 1956 for any of the products of the company.

9. (a) According to the records of the Company, Provident Fund, Investor Education and Protect Fund, ESIC, Wealth Tax, Custom Duty, Excise Duty, Cess, Income Tax, etc. dues have been regularly deposited, wherever applicable, during the period with the appropriate authorities, for all undisputed statutory dues as applicable, except one payment of service Tax for Rs. 1,59,196/- which is due for more then past one year as on 31- 03-2010 and MVAT Rs.66,254/- for the year 2010.

(b) There are no disputed statutory liabilities during the period covered under this Audit.

10. The Clause of accumulated losses etc, is not applicable to the company.

11. We have observed that the company has not defaulted in repayment of Dues to Bank or financial institution, since no loan has been obtained from any Bank by the Company.

12. Company has not granted loans & Advances on the basis of security etc. hence no discrepancies thereof arises.

13. The Provisions of Nidhi / Mutual benefit Fund/ Society etc. are not applicable to the Company. Hence Clause (a) to (d) are not applicable.

14. Company has maintained proper records for securities and Debentures as required.

15. Company has not given any Guarantee for loans taken by others and hence other provision are not applicable.

16. Company has not obtained any loan from Banks / Financial Institution and hence application of loan for specific purpose clause is not applicable.

17. Company has not used short term funds for long term •investments.

18. No preferential Allotment of shares etc. has not been made by the Company, hence other clauses are not applicable.

19. No Debentures are issued by the Company during the year under audit.

20. There was no raising of money by Public issue, during the year under audit.

21. According to the explanation and Information given by the Company and on checking we did not come across any instance of fraud on or by the Company during the. year 2009-2010.

For DAGDULAL K JAIN & CO.

CHARTERED ACCOUNTANTS.

D. K. Jain.

(Partner).

Membership no. 015929.

F.R.N.-101995W

DATE :22nd AUGUST, 2010.

PLACE: Thane.

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