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Auditor Report of Trinity League India Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of Trinity League India Limited [formerly known as Dr. Wellman''s Homeopathic

Laboratories Limited] ("the Company"), which comprise the Balance Sheet as at 31st March , 2014, the Statement of Profit and Loss and Cash Flow Statement for the year ended and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

The Company''s 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.

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 the 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 the 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 the 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 31st March, 2014;

(b) in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date, and

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, is not applicable to the company for the year under the report.

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 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, 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 and Statement of Profit and Loss comply with the Accounting Standards referred to in sub- section (3C) of section 211 of the Act.

(e) On the basis of the written representations received from the directors as on 31st March, 2014 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Act.

Annexure to the Auditors'' Report [Referred to in Paragraph (3) thereof]

1. The records maintained by the company showing full particulars including quantitative details and situation of fixed assets. The fixed assets have been physically verified by management during the year.

None of the fixed assets have been revalued during the year. There also has been no significant disposal during the year.

2. The Company has not dealt with any inventory during the financial year under audit and therefore this clause is not applicable.

3. The company has not taken any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. The company has not granted loans, unsecured, to companies which are related party within the meaning of AS – 18. However the Company has entered into transaction with related parties, adequate disclosure of which has been made in the notes to accounts.

4. In our opinion and according to the information and explanation given to us, there are adequate internal controls procedures commensurate with size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. In our opinion and according to the information and explanation given to us, there is no continuing failure to correct major weakness in internal control.

5. As explained by the management, the Company has not entered into contracts which need to be required to be entered in the register maintained under section 301 of the Company Act, 1956.

6. In our opinion & according to information given to us by the Company it has not accepted deposits from the public, which come under the directives issued by the RBI & the provisions of section 58A, section 58AA or any other relevant provisions of the Companies Act and rules framed there under.

7. The company is not compulsorily under the obligation of an internal audit.

8. According to the information and explanations given to us, the company has deposited timely, the statutory dues payable in respect of Income-Tax, Service Tax PF, ESI, and VAT & CST with the appropriate authorities.

9. The Company has been in existence for a period of more than 5 years. However as at 31st March, 2014; the accumulated losses of the Company exceeds 50% of the net worth by '' 1, 38, 38, 458/- 10. The Company has not defaulted in repayment of dues to a Bank or Financial institution. The Company has not issued any debentures; therefore the question of repayment of interest to debenture holders does not arise.

11. 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.

12. The company is not a Chit fund, Nidhi or mutual benefit Society. Hence the requirement of clause 4(xiii) of order is not applicable to the company.

13. In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investment. Accordingly, the provisions of clause 4(xiv) of the Company (Auditor''s report) Order, 2003 are not applicable to the Company.

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

15. According to information and explanations given to us, no fund was raised on short-term basis and/or long term basis so this Para does not seem to be applicable to the Company.

16. According to information and explanations given to us, no preferential allotment of shares have been made by the company to companies, firms or other parties listed in the register maintained under section 301of the Companies Act, 1956

17. The company has not issued any secured debentures during the period covered under audit.

18. During the period covered by our audit report, the company has not raised money by way of public issues.

19. In our opinion and according to the information and explanations given to us and on overall examination of the Balance Sheet, we report that funds raised on short term basis have not been used during the year for long term investment.

20. To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no significant fraud on the Company has been noticed or reported during the year.

For and on behalf of Sadana & Company Chartered Accountants Firm Regn. No. 011616N

Place: Noida (CA Amit Bansal) Date: 22nd April, 2014 Partner Membership No. 098966


Mar 31, 2012

1. We have audited the attached Balance Sheet of Dr. Wellman''s Homeopathic Laboratories Limited ("the Company") as at 31 st march, 2012 and also the Statement of Profit and Loss and the cash flow statement of the company for the year ended on that date, both annexed thereto. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

3. As required by the Companies (Auditor''s Report) Order, 2003 (CARO) issued by the Central Government of India in terms of Sub Section 4A of Section 227 of the Companies Act, 1956, We give in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the annexure referred to in paragraph 3 above, we report as follows:

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 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; except in case of depreciation. According to the last year balance sheet depreciation was under charged by '' 199,864.00/-. This amount has been adjusted in the depreciation schedule and has been provided for in the current year in the statement of profit and loss. The company has been charging depreciation on straight line basis.

d) In our opinion, the Balance Sheet, the Statement of Profit and Loss and the cash flow statement dealt with by this report are in compliance with the Accounting Standards referred to in section 211 (3C) of the Companies Act, 1956;

e) In our opinion and to the best of our information and according to the explanations given to us, the said accounts 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 Balance Sheet, of the state of affairs of the Company as at 31st March, 2012

ii. In the case of Statement of Profit and Loss, of the profit for the year ended on that date; and

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

5. 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 is disqualified as on 31 st March, 2012 from being appointed as Director in terms of section 274( 1 )(g) of the CompaniesAct, 1956.

Annexure to the Auditors'' Report

[Referred to in Paragraph (3) thereof]

1. The records maintained by the company showing full particulars including quantitative details and situation of fixed assets. The fixed assets have been physically verified by management during the year.

None of the fixed assets have been revalued during the year.

2. As explained to us, the inventories have been physically verified by the management at reasonable intervals during the year. In our opinion, the frequency of such verification is reasonable having the regard to the size of the company and the nature of its business.

In our opinion and according to the information and explanation given to us, the procedures of physical verification followed by the management are reasonable and adequate in relation to the size of the company and the nature of the business.

In our opinion and according to the information and explanation given to us, the company has maintained proper records of inventory. As explained to us, there were no material discrepancies noticed on physical verification of stocks, as compared to book records. At the year ended 31 st March, 2012 there is no closing inventory.

3. The company has not taken any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. The company has granted loans, unsecured, to companies which are related party within the meaning of AS - 18, However such advancement of loan is within the limits prescribed under section 372Aof the Companies Act, 1956. Interest has been charged on such advancement of loan to related parties. The year end balances are as follows:

NAME OF THE PARTY AMOUNT [Rs.]

A. Trinity Global Enterprises Ltd. 305,099.00/-

B. Trinity Industries Limited 687,500.00/-

4. In our opinion and according to the information and explanation given to us, there are adequate internal controls procedures commensurate with size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. In our opinion and according to the information and explanation given to us, there is no continuing failure to correct major weakness in internal control.

5. As explained by the management, the Company has entered into contracts which need to be required to be entered in the register maintained under section 301 of the Company Act, 1956.

6. In our opinion & according to information given to us by the Company it has not accepted deposits from the public, which come under the directives issued by the RBI & the provisions of section 58A, section 58AAor any other relevant provisions of the Companies Act and rules framed there under.

7. The company is not compulsorily under the obligation of an internal audit.

8. According to the information and explanations given to us, the central government has not prescribed under section 209(1) (d) of the companies act, 1956 the maintenance of cost records.

9. According to the information and explanations given to us, the company has deposited timely, the statutory dues payable in respect of Income-Tax, Service Tax PF, ESI, and VAT & CST with the appropriate authorities.

10. The Company has been in existence fora period of more than 5 years. However as at 31st March, 2012; the accumulated losses of the Company exceeds 50% of the net worth by Rs. 1,16,27,3801-

11. The Company has not defaulted in repayment of dues to a Bank or Financial institution. The Company has not issued any debentures; therefore the question of repayment of interest to debenture holders does not arise.

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, Nidhi or mutual benefit Society. Hence the requirement of clause 4(xiii) of order is not applicable to the company.

14. In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investment. Accordingly, the provisions of clause 4(xiv) of the Company (Auditor''s report) Order, 2003 are not applicable to the Company.

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

16. According to information and explanations given to us, no fund was raised on short-term basis and/or long term basis so this Para does not seem to be applicable to the Company.

17. According to information and explanations given to us, no preferential allotment of shares have been made by the company to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956

18. The company has not issued any secured debentures during the period covered under audit.

19. During the period covered by our audit report, the company has not raised money by way of public issues.

20. In our opinion and according to the information and explanations given to us and on overall examination of the Balance Sheet, we report thatfunds raised on shortterm basis have not been used during the yearfor long term investment.

21. To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no significant fraud on the Company has been noticed or reported during the year.

For Sadana & Co.

Chartered Accountants

Firm Regn. No. 011616N

Place: Noida (CA Amit Bansal)

Date: 31 st May, 2012 Partner

Membership No. 098966


Jun 30, 2010

1) We have audited the attached Balance Sheet of Dr. Wellmans Homoeopathic Laboratory Limited as at 30th June , 2010 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

3) As required by the company (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(1) a statement on matters specified in paragraph 4 and 5 of the said order.

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

i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for purposes of our audit;

ii) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books.

iii) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account.

iv) In our opinion, the Balance Sheet and Profit and Loss Account dealt with by this report comply with the accounting standards referred to in sub-section(3C) of section 211 of the Companies Act, 1956;

v) On the of written representations received from the directors, and taken on record by the Board of Directors, we report that none of the directors is disqualified as from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 195;

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

a) in the case of the Balance Sheet, of the state of affairs of the Company as at 30lh June 2010;

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

c) in the case of Cash Flow Statement as at 30th June 2010

ANNEXURE TO AUDITORS REPORT (Referred to in paragraph-1 of our report of even date on the accounts for the year ended 30th June, 2010 of Dr. Wellmans Homoeopathic Laboratory Limited)

1. The records maintained by the company showing full particulars including quantitative details and situation of fixed assets are needs to be made more adequate. The fixed assets have not been physically verified by management during the year.

None of the fixed assets have been revalued during the year.

2. As explained to us, the inventories have been physically verified by the management at reasonable intervals during the year. In our opinion, the frequency of such verification is reasonable having the regard to the size of the company and the nature of its business.

In our opinion and according to the information and explanation given to us, the procedures of physical verification followed by the management are reasonable and adequate in relation to the size of the company and the nature of the business.

In our opinion and according to the information and explanation given to us, the company has maintained proper records of inventory. As explained to us, there were no material discrepancies noticed on physical verification of stocks, as compared to book records.

3. The company has not taken any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. The company has not granted any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanation given to us, having regard to the explanations that some of the items purchased are of special nature and suitable alternative sources do not exist for obtaining comparable quotations, there are adequate internal controls procedures commensurate with size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. In our opinion and according to the information and explanation given to us, there is no continuing failure to correct major weakness in internal control.

5. a) To the best of our knowledge and belief and according to the information and explanation given to us, we are of the opinion that the transactions that needs to be entered in to the register maintained under section 301 of Companies Act 1956 have been so entered.

b) In our opinion and having regard to our comments in paragraph (iv) above, and according to the information and explanations given to us, transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the companies act, 1956 and exceeding the value of Rs. 5, 00,000/- in respect of each party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

6. The company does not required to have an internal audit.

7. According to the information and explanations given to us, the central government has not prescribed under section 209(1)(d) of the companies act, 1956 the maintenance of cost records.

8. According to the information and explanations given to us, the company is not regular in depositing statutory dues payable in respect of Provident Fund, Investor Education And Protection Fund, Employees State Insurance, Income-Tax, Sales Tax, Wealth Tax, Custom Duty, Excise Duty, cess with the appropriate authorities. No provision for interest on such delayed/non payment or penalty has been made in the books of accounts. In view of inadequate records, we are unable to provide exact amount of outstanding dues against the company as at 30th June, 2010.

9. The company has accumulated losses aggregating to Rs. 40442166 at the end of the financial year. The company has suffered cash profit of Rs. 2803318 during the year against the cash profit of Rs. 907065 in the immediately preceding financial year.

10. 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.

11. The company is not a Chit fund, Nidhi or mutual benefit Society. Hence the requirement of clause 4(xiii) of order are not applicable to the company.

12. Not Applicable

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

14. In our opinion and according to the information and explanation given to us, subject to our comment in our audit report, the terms loans have been applied for the purpose for which they were raised other than amounts temporarily invested pending utilization of the funds for the stated use.

15. According to information and explanations givei to us, no funds raised on short-term basis have been used for long-term investment. Similarly, no funds raised on long-term basis have been used for short-term investment.

16. According to information and explanations given to us, no preferential allotment of shares have been made by the company to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956

17. The company has not issued any secured debentures during the period covered under audit.

18. During the period covered by our audit report, the company has not raised money by way of public issues.

19. According to information and explanations given to us, a fraud on or by the company has not been noticed or reported during the year.

(Amish Ambani)

M.N.-95609

Partner,

Amish Ambani & Co.,

Chartered Accountants

Date : 04/12/2010

Place: Delhi

 
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