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Auditor Report of Trinity Tradelink Ltd.

Mar 31, 2015

1. We have audited the accompanying financial statements of Trinity Tradelink Limited (the "Company"), which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss and the Cash Flow Statement 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's Responsibility for the Financial Statements

2. The Company's Board of Directors is responsible for the matters stated in Section 134(5) of 'the Companies Act, 2013' of India (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 Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit.

4. 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.

5. 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.

6. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

7. 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.

Opinion

8. In our opinion, and to the best of our information and according to the explanations given to us, the accompanying 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 31 March 2015;

(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.

Report on Other Legal and Regulatory Requirements

9. As required by 'the Companies (Auditor's Report) Order, 2015', issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act (hereinafter referred to as the "Order"), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

10. 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 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 it appears from our examination of those books;

(c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account;

(d) In our opinion, the accompanying financial statements dealt with by this report 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 written representations received from the directors as on 31 March 2015, and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2015, from being appointed as a director in terms of Section 164(2) of the Act;

(g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financial position;

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses;

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

Annexure to Independent Auditor's Report

( Refer to in paragraph 9 of the independent auditor's report of even date to the members of Trinity Tradelink Ltd on the financial statement for the year ended 31st. March 2015)

i. (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation, of fixed assets.

(b) The fixed assets of the Company have been physically verified by the Management during the year and no material discrepancies have been noticed on such verification. In our opinion, the frequency of verification is reasonable.

ii. (a) The inventory has been physically verified by the Management during the yea. In our opinion, the frequency of verification is reasonable.

(b) In our opinion, the procedures of physical verification of inventory followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) On the basis of our examination of the inventory records, in our opinion, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material.

iii. The Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 189 of the Act. Therefore, the provisions of Clause 3(iii)[(b) and (c)] of the said Order are not applicable to the Company.

iv. In our opinion, and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, we have neither come across, nor have been informed of, any continuing failure to correct major weaknesses in the aforesaid internal control system.

v. The Company has not accepted any deposits from the public within the meaning of Sections 73 to 76 of the Act and the rules framed there under.

vi. The Central Government of India has not prescribed the maintenance of cost records under sub-section (1) of Section 148 of the Act for any of the products of the Company.

vii. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is regular in depositing the undisputed statutory dues, including provident fund, investor education and protection fund, employees' state insurance, income tax, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable, with the appropriate authorities .

(b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of income-tax, sales-tax, wealth-tax, service-tax, duty of customs, duty of excise, value added tax, cess which have not been deposited on account of any dispute.

(c) According to the information and explanations given to us and the records of the Company examined by us, there is no amount required to be transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 and rules made there under, with the appropriate authorities.

viii. The Company has no accumulated losses as at the end of the financial year and it has incurred cash losses in the financial year ended on that date and in the immediately preceding financial year.

ix. According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to any bank as at the balance sheet date.

x. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year. Accordingly, the provisions of Clause 3(x) of the Order are not applicable to the Company

xi. In our opinion, and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained.

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

For D K Chhajer & Co

Chartered Accountants

Firm Registration No. 304138E

Niraj K Jhunjhunwala

Partner

Membership No. 057170


Mar 31, 2014

1. We have audited the accompanying financial statements of Trinity Tradelink Limited (Formally Omnitech Petroleum Ltd), which comprise the Balance Sheet as at 31st March 2014 , 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, which we have signed under reference to this report.

Management''s Responsibility for the Financial Statements

2. 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 cashflows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of ’the Companies Act, 1956'' of India (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

3. 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 and other applicable authoritative pronouncements 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.

4. An audit involves performing procedures to obtain audit evidence, about the amounts and disclosures in the financial statements. 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. In making those risk assessments, the auditors consider internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Management, as well as evaluating the overall presentation of the financial statements.

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

6. In our opinion, and to the best of our information and according to the explanations given to us, the accompanying 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 31s''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.

Report on Other Legal and Regulatory Requirements

7. As required by ''the Companies (Auditor''s Report) Order, 2003'', as amended by ''the Companies (Auditor''s Report) (Amendment) Order, 2004'', issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act (hereinafter referred to as the "Order"), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

8 As required by section 227(3) of the Act, we report that:

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

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

(c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement 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, and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Act;

(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 Act.

Annexure to Independent Auditors'' Report

Referred to in paragraph [7] of the Independent Auditors'' Report of even date to the members of Trinity Tradelink Limited (Formerly Omnitech Petroleum Ltd) financial statements as of and for the year ended 31st March, 2014.

i. (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation, of fixed assets.

(b) The fixed assets of the Company have been physically verified by the Management during the year and no material discrepancies have been noticed on such verification. In our opinion, the frequency of verification is reasonable.

(c) In our opinion, and according to the information and explanations given to us, a substantial part of fixed assets has not been disposed off by the Company during the year.

ii. (a) The inventory has been physically verified by the Management during the year. In our opinion, the frequency of verification is reasonable

(b) In our opinion, the procedures of physical verification of inventory followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) On the basis of our examination of the inventory records, in our opinion, the Company is maintaining proper records of inventory. The discrepancies noticed on physical verification of inventory as compared to book records were not material.

iii. (a) In respect of the aforesaid loans, the Company is regular in repaying the principal amounts, as stipulated, and is also regular in payment of interest, as applicable. The Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 301 of the Act. Therefore, the provisions of Clause 4(iii)[(b),(c) and (d) of the said Order are not applicable to the Company

(b) The Company has taken unsecured loans, one companie covered in the register maintained under Section 301 of the Act. The maximum amount involved during the year and the year-end balance of such loans aggregated to Rs. 51,57,748. The Company has not taken any secured/ unsecured loans to firms or other parties covered in the register maintained under Section 301 of the Act.

(c) 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.

iv. In our opinion, and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, we have neither come across, nor have been informed of, any continuing failure to correct major weaknesses in the aforesaid internal control system.

v (a) According to the information and explanations given to us, we are of the opinion that the particulars of all contracts or arrangements that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion, and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements and exceeding the value of Rupees Five Lakhs in respect of any party during the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

vi. The Company has not accepted any deposits from the public within the meaning of Sections 58Aand 58AA of the Act and the rules framed there under.

vii. In our opinion, the Company has an internal audit system commensurate with its size and the nature of its business.

viii. The Central Government of India has not prescribed the maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Act for any of the products of the Company.

ix. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is regular in depositing the undisputed statutory dues, including provident fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, service tax, customs duty, excise duty and other material statutory dues, as applicable, with the appropriate authorities.

(b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of income-tax, sales-tax, wealth-tax, service-tax, customs duty, and excise duty which have not been deposited on account of any dispute.

x. The Company has no accumulated losses as at the end of the financial year and it has not incurred any cash losses in the financial year ended on that date, however it has incurred cash loss in the immediately preceding financial year.

xi. According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders as at the balance sheet date.

xii. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of Clause 4(xii) of the Order are not applicable to the Company.

xiii. As the provisions of any special statute applicable to chit fund/ nidhi/ mutual benefit fund/ societies are not applicable to the Company, the provisions of Clause 4(xiii) of the Order are not applicable to the Company.

xiv In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of Clause 4(xiv) of the Order are not applicable to the Company

xv. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year. Accordingly, the provisions of Clause 4(xv) of the Order are not applicable to the Company

xvi. In our opinion, and according to the information and explanations given to us, the term loans have been applied for the purposes for which they were obtained.

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

xviii. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year. Accordingly, the provisions of Clause 4(xviii) of the Order are not applicable to the Company.

xix. The Company has not issued any debentures during the year and does not have any debentures outstanding as at the beginning of the year and at the year end. Accordingly, the provisions of Clause 4(xix) of the Order are not applicable to the Company

xx. The Company has not raised any money by public issues during the year. Accordingly, the provisions of Clause 4(xx) of the Order are not applicable to the Company.

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

For D. K. CHHAJER & CO. Chartered Accountants FRN-304138E

Niraj K. Jhunjhunwala Partner M. No-057170

Place: Camp Mumbai Date : 29th May, 2014


Mar 31, 2012

We have audited the attached Balance Sheet of OMNITECH PETROLEUM LIMITED (Formerly Sharp Trading & Finance Ltd.) as at 31st March, 2012, and also the Statement of Profit and 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.

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

2) 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 paragraphs 4 and 5 of the said Order to the extent as it applicable to this Company.

3) Further to our comments in the Annexure referred to in paragraph 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 the 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 Mandatory Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956, to the extent applicable to this company, except Accounting Standard (AS) 15, relating to non-providing retirement benefits on accrual basis;

(v) 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 31st March, 2012 from being appointed as a Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956;

(vi) In our opinion and to the best of our information and according to the explanations given to us, they said accounts read together with significant accounting policies and notes on 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 Balance Sheet, of the state of affairs of the company as at 31st March, 2012;and

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

ANNEXURE REFERRED TO IN THE PARAGRAPH 3 OF OUR AUDITORS REPORT OF EVEN DATE ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2012.

On the basis of such checks as we considered appropriate and in terms of information and explanations given to us, we report that:-

i) a) The company does not have any fixed assets hence such clause is not applicable.

ii) a) The Company does not carry any stock of Raw Material, Finish Goods, Stores and Spares. As per the practice consistently followed by the company, purchase of stationery etc. are charged to the revenue directly and no stock is carried by the company. In view of the above no comments are offered on (i) procedure of physical verification (ii) reasonable and adequate relation to the size of the company and (iii) discrepancies on physical verification if any.

iii) a) According to the information and explanations given to us, the company has not granted any loans secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Act.

b) As per information and explanation given to us, the Company has taken unsecured loans from one party covered in the register maintained under section 301 of the Act. The maximum amount involved during the year was Rs. 19.75 lacs and the yearend balance of loans taken from such party was Rs. 20.18 lacs.

c) In our opinion and as per information and explanation given to us, the rate of interest and other terms and conditions on which loans have been taken from such parties listed in the register maintained under Section 301 of the Companies Act 1956 are not, prima facie, prejudicial to the interest of the company.

d) The company is regular in repaying the principal amounts and interest.

iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, the clause relating to the Internal Audit not arise.

v) a) According to the information and explanations given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements exceeding value of Rupees five lakhs have been entered into during the financial year at prices which are reasonable having regard to the prevailing market prices at the relevant time.

vi) In our opinion and according to the information and explanations given to us, the company has not accepted any fixed deposits from public during the year.

vii) In our opinion and according to the information and explanations given to us, the company does not have any internal audit department as such, however its control procedure are reasonable commensurate with its size and nature of its business.

viii) The Central Government has not prescribed the maintenance of cost records by the Company under section 209 (1) (d) of the companies Act, 1956 for any of its products.

ix) a) The company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, or employees state insurance, Income Tax, Sales Tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other material statutory dues applicable to it. As informed to us the provision of Investor Education and Protection Fund is not applicable to the company.

b) According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund, employees insurance fund, Sales Tax, Income Tax, Custom Duty, Wealth Tax, Excise Duty and Cess were in arrears, as at the end of the year 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 Income Tax, Sales Tax, Custom Duty, Wealth Tax, Excise Duty and cess which have not been deposited on account of any dispute.

x) The company has accumulated losses Rs. 20.22 lakhs as at 31st March, 2012, company has incurred cash losses of Rs.20.22 lakhs during the financial year under consideration and Rs. 10.97 lakhs in the immediately preceding financial year.

xi) The Company has not taken any loans from banks or financial institutions.

xii) As informed 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) In our opinion, the company is not a chit fund, nidhi or mutual benefit fund/ society. Therefore, the provisions of clause 4 (xiii) of the companies (Auditors report) Order, 2003 are not applicable to the company.

xiv) In our opinion, the company is not dealing or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4 (xiv) of the companies (Auditors report) Order, 2003 are not applicable to the company.

xv) On the basis of the information and explanations given to us, the company has not given any guarantee for loans taken by others from bank or financial institutions.

xvi) The Company has not taken any term loan during the year.

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

xviii) According to the information and explanations given to us, the company has not made any allotment of shares during the year.

xix) The company has not issued any debentures during the year.

xx) The company has not raised any money by public issues.

xxi) Based on the audit procedures performed and according to information and explanations given to us by the management, no fraud on or by the company has been noticed or reported during the course of our audit.

For JAIN GANGWAL & ASSOCIATES

Chartered Accountants

Firm Registration No. 114382W

(Kamal Gangwal)

Place : Mumbai Partner

Date : 25th May, 2012 M. No. 042234


Mar 31, 2011

I, have audited the attached Balance Sheet of the OMNITECH PETROLEUM LIMITED (formerly known as SHARP TRADING & FINANCE LIMITED), (herein after referred to as "the Company") as at 31st March, 2011, and also the Profit and Loss account and the cash flow statement for the year ended on that date annexed thereto. These financial statement are the responsibility of the Company's management. My responsibility is to express an opinion on this statement based on my audit.

I conducted my 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 statement is free of material misstatement. An audit includes examining, on a test check basis evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principal used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides reasonable basis for my opinion.

1. As required by the Manufacturing and Other Companies (Auditor's Report) Order, 2003, as amended by the Companies (Auditors' Report) Amendment Order, 2004 ("the order") issued by the Central Government of India in terms of sub-section 227 (4A) of the Companies Act, 1956 ("the Act"), I annexed hereto a statement on the matters specified in Paragraph 4 and 5 of the said order.

2. Further to my comment in the Annexure referred to above, I report that:

a. I have obtained all the information and explanation which to the best of my knowledge and belief were necessary for the purposes of my audit.

b. In my opinion, proper books of accounts as required by law have kept by the Company so as it appears from the examinations of these books.

c. The Balance Sheet, Profit & Loss and Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

d. In my opinion, the Balance Sheet and the Profit & Loss Account and cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956.

e. On the basis of written representation received from the directors as on 31st March, 2011 and taken on record by the Board of Directors, I report that none of the directors are disqualified as on 31st March, 2011 from being appointed as a director in terms of Clause (g) of the sub-section (1) of Section 274 of the Companies Act, 1956; and

f. In my opinion and to the best of my information and according to the explanations given to me and subject to the notes thereon the said accounts give all the information required by the Companies Act, 1956 in the manner so required and give a true and fair view.

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

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

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

Annexure referred to in my report to the members of M/s. OMNITECH PETROLEUM LIMITED (formerly known as M/s. SHARP TRADING & FINANCE LIMITED. (herein after referred to as "the Company")

1. (a) The Company has maintained proper records to showing full particulars, including quantitative details and

situation of Fixed Assets.

(b) The Fixed Assets have been physically verified by the management at regular Intervals having regard to the size of the Company and the nature of its assets and there are no discrepancies between the book records and physical verification of assets.

(c) However, the fixed assets has been sold during the year.

2 The Company does not carry any stock of Raw Material, Finish Goods, Stores and Spares. As per the practice consistently followed by the company, purchase of stationary etc. are charged to the revenue directly and no stock is carried by the Company. In view of the above no comments are offered on (i) procedure of physical verification (ii) reasonable and adequate I relation to the size of the company and (iii) discrepancies on physical verification if any.

3 The company has not taken any loans secured or unsecured from Companies, firms and other parties listed in the register maintained under section 301 and/or from companies under the same management as defined under section 370 (1B) of the Companies Act, 1956. In view of this sub-clause (b), (c ) and (d) of the clause (iii) of the Companies (Auditors' Report) order is not applicable.

4 In my opinion and according to the information and explanation given to us there are adequate internal control procedure commensurate with the size of the Company.

5 In my opinion and according to the information and explanation given to me the Company has not done any transaction that needs to be entered in the register maintained under section 301 of the Act.

6 The Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and rules framed thereunder.

7 In my opinion, the Company has Internal audit system commensurate with its size and nature of its business. the clause relating to the Internal Audit does not arise.

8 As informed to me the maintenance of cost records has not been prescribed by the Government under section 209(1)(d) of the Companies Act, 1956 for the period under review.

9 According to the records of the company, there were no undisputed amounts payable in respect of Provident Fund, Income Tax, Wealth Tax, Sales Tax, Custom Duty and Excise Duty, Service Tax Entry Tax, Cess and any other applicable statutory dues with the appropriate authority.

10 The company do have accumulated losses at the end of the financial year.

11 The Company has not taken any loans from banks or financial institutions.

12 In my opinion and according to the information and explanation given to me by the management, the Company has not granted loans and advances on the basis of the security by way of pledge of shares, debentures and other securities.

13 In my opinion and according the information and explanation given to me, the Company is not a chit fund / nidhi / mutual benefit fund / society.

14 In my opinion and according the information and explanation given to me, the Company is not dealing or trading in shares, securities, debentures and other investments.

15 In my opinion and according the information and explanation given to me, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

16 The company has not taken any term loan during the year.

17 The Company has not raised any fund, long term or short term during the year.

18 The company has not made any preferential allotment of shares to the parties or Companies covered in the register maintained under section 301 of the Companies Act, 1956.

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

20 The company has not raised any money through a public issue during the year.

21 According to the information and explanation given to me, we report that no material fraud on or by the Company has been noticed or reported during the year.

RAJESH MAYEKAR Chartered Accountant

Membership No.: 104966 Place: Mumbai Date: 30 MAY 2011


Mar 31, 2010

I have audited the attached Balance Sheet of the M/S. SHARP TRADING & FINANCE LIMITED., ( herein after referred to as "the Company" ) as at 31st March, 2010 and also the Profit and Loss Account and the cash low statement for the year ended on that date annexed thereto. These financial statement are the responsibility of the Companys management. My responsibility is to express an opinion on these statement based on my audit.

I conducted my 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 statement are free of material misstatement. An audit includes examining, on a test basis evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principal used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides reasonable basis for my opinion.

1. As required by the Manufacturing and Other Companies ( Auditors Report ) Order, 2003, as amended by the Companies ( Auditors Report) Amendment Order, 2004 ( "the order") issued by the Central Government of India in terms of sub - section 227 ( 4 A) of the Companies Act, 1956 ("the Act"), I annexed hereto a statement on the matters specified in Paragraph 4 and 5 of the said order.

2. Further to my comment in the Annexure referred to above, I report that:

a. I have obtained all the information and explanation which to the best of my knowledge and belief were necessary for the purpose of my audit.

b. In my opinion proper books of accounts as required by law have kept by the Company so as it appears from the examinations of these books.

c. The Balance Sheet, Profit & Loss and Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

d. In my opinion, the Balance Sheet and the Profit & Loss Account and cash Flow Statement dealth with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956.

e. On the basis of the written representation received from the directors as on 31st March, 2010 and taken on record by the Board of Directors, I report that none of the directors are disqualified as on 31st March, 2010 from being appointed as a director in terms of Clause (g) of the sub-section (1) of Section 274 of the Companies Act, 1956; and.

f. In my opinion and to the best of my information and according to the explanation given to me and subject to the notes thereon the said accounts give all the information required by the Companies Act, 1956 in the manner so required and give a true and fair view.

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

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

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



Annexure referred to in my report to the members of Sharp Trading & Finance Ltd. ("the Company") for the year ended.



1. (a) The company has maintained proper records to showing full particulars, including quantitative details and situation of Fixed Assets.

(b)The Fixed Assets have been physically verified by the management at regular Intervals having regard to the size of the Company and the nature of its assets. and there are no discrepancies between the book records and physical verification of assets.

(c) None of the fixed assets has been sold or revalued during the year.

2 The Company does not carry any stock of Raw Material, Finish Goods, Stores and Spares. As Per the practice consistently followed by the company, purchase of stationery etc. are charged to the revenue directly and no stock is carried by the Company. In view of the above no comments are offered on (i) procedure of physical verification (ii ) reasonable and adequate I relation to the size of the company and (iii) discrepancies on physical verification if any.

The Company has not taken any loans secured or unsecured from Companies, firms and other parties listed in the register maintained under section 301 and / or from companies under the same management as defined under section 370 ( IB ) of the Companies Act, 1956. In view of this sub-clause (b), (c), and (d) of the clause (iii) of the Companies (Auditors Report) order is not applicable.

4. In my opinion and according the information and explanation given to us there are adequate internal control procedure commensurate with the size of the Company.

5. In my opinion and according to the information and explanation given to me the Company has not done any transaction that needs to be entered in the register maintained under section 301 of the Act.

6. The Company has not accepted any deposits within the meaning of Section 58 A of the Companies Act, 1956 and rules framed thereunder.

7. In my opinion, the Company has Internal audit system commensurate with its size and nature of its business, the clause relating to the Internal Audit does not arise.

8. As informed to me the maintenance of cost records has not been prescribed by the Government under section 209 (l)(d) of the Companies Act, 1956 for the period under review.

9. According to the records of the company, there were no undisputed amounts payable in respect of Provident Fund, Income Tax, Wealth Tax, Sales Tax, Custom Duty and Excise Duty, Service Tax Entry Tax, Cess and any other applicable statutory dues with the appropriate authority.

10. The company does not have any accumulated losses at the end of the financial year.

11. The Company has not taken any loans from banks or financial institutions.

12. In my opinion and according the information and explanation given to me by the management, the Company has not granted loans and advances on the basis of the security by way of pledge of shares, debentures and other securities.

13. In my opinion and according the information and explanation given to me, the Company is not a chit fund / nidhi / mutual benefit fund / society.

14. In my opinion and according the information and explanation given to me, the Company is not dealing or trading in shares, securities, debentures and other investments.

15. In my opinion and according the information and explanation given to me, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

16. The company has not taken any term loan during the year.

17. The Company has not raised any fund, long term or short term during the year.

18. The company has not made any preferential allotment of shares to the parties or Companies covered in the register maintained under section 301 of the Companies Act, 1956.

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

20. The company has not raised any money through a public issue during the year.

21. According to the information and explanation given to me, we report that no material fraud on or by the Company has been noticed or reported during the year.

RAJESH MAYEKAR

Chartered Accountant

Place: Mumbai

Date :2/8/2010