Auditor Report of Betala Global Securities Ltd.

Mar 31, 2014

We have audited the attached Balance Sheet of Betala Global Securities Limited, which comprise the Balance Sheet as at 31st March , 2014, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting Standards notified under the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of interna! 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, 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 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 loss of the Company for the year ended on that date, and

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003("the Order") issued by the Central Government of India in terms of sub- section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order

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

(a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the 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, and the 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 the Cash Flow Statement 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

ANNEXURE REFERRED TO IN PARAGRAPH (3) OF THE AUDITORS REPORT TO THE MEMBERS OF 6ETALA GLOBAL SECURITIES LIMITED, ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2014:

In terms of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:

1.

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

b) All the fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on verification made during the year.

c) The company has not disposed off substantial portion of the Fixed Assets during the year.

2. The Company doesn''t have any inventory and hence clause 4 (ii) of the Companies (Auditor''s Report) order 2003 is not applicable to the Company.

3.

a) As informed to us, the company has granted unsecured loans to company listed in the register maintained under Section 301 of the Companies Act 1956.Loan given is to one party and the amount involved is 54.50 Lacs.

b) The rate of interest and other terms and conditions of the loan given by the company are prima facie prejudicial to the interest of the company

c) There are no stipulation as to the repayment of principal and interest, hence clause 3(d) is not applicable.

e) 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. Hence clause 3(f) & 3(g) are not applicable to the company

4. 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, for the purchase of inventory and fixed assets and for the sale of goods and services. Accordingly the issue of continuing failure to correct major weakness in internal control in these areas does not apply.

5.

a) The particulars of contracts or arrangements that need to be entered in the register maintained under Section 301 have been duly entered.

b) There are no transactions in respect of any party covered in the register to be maintained under section 301 of the Companies Act, 1956 during the financial year under consideration.

6. The company has not accepted any deposits from the public and hence the directives issued by Reserve Bank of India and the provisions of Section 58A,58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under are not applicable.

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

8. As the company doesn''t manufacture any products, clause 4 (viii) of the companies (Auditor''s Report) order 2003 is not applicable to the Company.

9.

a) The company is generally regular in depositing all undisputed statutory dues including Provident fund, Investor education and protection fund, Income tax, Sales tax, Wealth tax, service tax, Customs duty, Excise duty, cess and other statutory dues wherever applicable with appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no dues outstanding of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess on account of any dispute.

10. The Company has accumulated losses at the end of the financial year under report and has incurred cash loss in the current year and has not incurred cash loss in the immediately preceding financial year. However the accumulated losses as on 31.03.2014 are less than fifty percent of the Company''s net worth.

11. The company has not defaulted in repayment of dues to Banks. There are no dues to Financial Institutions and Debenture holders by the Company during the year.

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

13. In our opinion, and according to the information and explanations given to us, the nature of activities of the Company does not attract the provisions of any special statute applicable to Chit fund and Nidhi/mutual benefit fund/societies.

14. 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 companies (Auditor''s Report) order 2003 is 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 banks or financial institutions. -

16. The company has not availed any term loan.

17. According to the information and explanation given to us and an overall examination of the Balance Sheet of the Company, we report that no short term funds have been raised during the year.

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

19. The company has not issued any debentures and as such the creation of securities does not arise.

20. The Company has not raised any money from public during the year.

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

For C.RAMASAMY & B.SRINIVASAN Chartered Accountants FRN : 02957S

C.RAMASAMY Partner, M. No. 023714

Place: Chennai Date : 31.05.2014

---

Mar 31, 2013

We have Audit the attached balannce Sheet of Betala Global Securities Limted, Which Comprise the Balance Sheet as at 31st March 2013 the Statement profit and Loss And cash Flow Staement for the Year then ended and Summary of the Singicationt accounting Policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of theses financial statements that give a true and fair view of the financial positions financial per formation and cash flows of the company in accounting with the according principal generally accepted in India including Accounting standards referred to in sub-section 211 of the preparation and presentation responsibility including that give a true and fair view and are free material misstatements whether due to fraud or error.

Auditor''s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit we 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 from required and plan perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements the procedures selected depend on the auditors judgment including the assessment of the risks of material misstatements of thru to the companies preparation and fair presentation of the financial statesmen in order to design audit procedures that are appropriate in the circumstances An audit also including evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management as well 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 our information and according to the explanation given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principal. generally accepted in India;

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

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

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date, Report on other legal and regulatory requirements:

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

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

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

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

c) the Statement of 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 l- Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

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

ANNEXURE REFERRED TO IN PARAGRAPH (3) OF THE AUDITORS TO THE MEMBERS OF BETALA GLOBAL SECURITIES LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2013;

In terms of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief we state that;

1. (a) The company has maintained proper records showing full particulars including quantitative annexure to the auditor''s report details and situation of fixed assets.

(b) All the fixed assets have been physically verified by the management at reasonable intervals No material discrepancies were records showing Particulars including quantitative made during the year.

(c) The company has not disposed off substantial portion of the Fixed Assets during the year.

2. The company doesn''t have any inventory and hence clause 4 (ii) of the companies (Auditor''s Report) order 2003 is not applicable to the company.

3. (a) As information to us company has granted unsecured loans to company listed in the register maintained under section 301 of the companies Act, 1956 Loan given is to one party and the amount involved is 55.00 Lacs.

b) The rate of interest and other terms and conditions of the loan given by the company are prima facie prejudicial to the interest of the company.

c) There are no stipulation as to the repayment of principle and interest hence clause 3 (d) is not applicable.

e) 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 Hence clause 3(f) & 3(g) are not applicable to the company.

4. 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 for the purchase of inventory and fixed assets and for the sale of goods and services Accordingly the issue of continuing failure to correct major weakness in internal control in these are does not apply.

5. a) The particulars of contracts or arrangements that need to be entered in the register maintained under section 301 have been duly entered.

b) There are no transactions in respect of any party covered in the register to be maintained under section 301 of the companies Act, 1956 during the financial year under consideration.

6. The company has not accepted any deposits from the public and hence the directors issued by Reserve Bank of India and the provisions of section 58A 58AA or pay other relevant provisions of the companies Act, 1956 and the rules framed there under are not applicable.

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

8. As the company doesn''t manufacture any products clause 4 (viii) of The companies (Auditor''s Report) order 2003 is not applicable to the company.

a) The company is generally regular in depositing all undisputed statutory dues including provident fund investor education and protection fund income tax sales tax wealth tax service tax Customs duty, Excise duty, authorities and there are no arrears of outstanding steatite ''Cable With appropriate financial year concerned for a period of marl thus as at the last day of the of more than six months from the date they became payable.

b) According to the records of the company there are no dues outstanding of sales tax income tax customs duty wealth tax service tax excise duty and cess on account of any dispute.

11. The Company has not defaulted in repayment of dues to Banks There are no dues to Financial Institutions and Debenture holders by the company during the year.

12. According to the information and explanation 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. In our opinion and according to the information and explanations nations given to us the nature of activities of Nidhi/mutual benefit fund/societies. special statute applicable to Chit fund and is not nidhi/mutual benefit fund/societies.

14. In our opinion the company is not dealing in or trading in shares securities, debentures and other is not applicable to the Company, companies (Auditor''s Report) order 2003

15. 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.

16. The company has not availed any term loan.

17. According to the information and explanation given to us and an overall examination of the Balance sheet of the company we report that no short term funds have been raised during the year.

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

19. The company has not Issued any debentures and as such the creation of securities does no, arise.

20. The Company has not raised any money from public during the year.

21. According to the information and explanation given to us by the management we report that no fraud on or by the company has been noticed or reported during the year.

For C.RAMASAMY & B.SRINIVASAN

Chartered Accountants

FRN : 02957S



C.RAMASAMY

Partner

Place: Chennai M. No. 023714

Date : 29.04.2013

---

Mar 31, 2012

1. We have audited the attached Balance Sheet of Betala Global Securities Limited, as at 31st March, 2012, and also the Profit and Loss Account and the Cash flow statement for the year ended on that date annexed thereto. These Financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

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 Companies,(Auditor's Report) Order 2003 issued by the Central Government of India in terms of Section 227(4A)of the Companies Act, 1956, we enclose in the annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

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

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

II. In our opinion proper books of accounts as required by law have been kept by the company as far as appears from our examination of such books and proper returns adequate for the purposes of our audit.

III. The Balance Sheet, the Profit and Loss Account and Cash flow statement dealt with by this report are in agreement with the books of accounts.

IV. In our opinion, the Balance Sheet, the profit and loss account and the 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.

V. On the basis of the written representations received from the directors, as on 31.03.2012 and taken on record by the Board of Directors, we report that none of the directors disqualified as on 31.03.2012, from being appointed as a director in terms ofclause (g) of subsection 1 to section 274 of the Companies Act 1956;

VI. Subject to the foregoing and in our opinion and to the best of our information and according to the explanations given to us, the said accounts together with the notes and schedules 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 March 31, 2012 and

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

c) In the case ot Cash flow statement, ot the Cash flows tor the year ended on that date.

In terms of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:

1.

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

b) All the fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on verification made during the year.

c) The company has not disposed off substantial portion of the Fixed Assets during the year.

2. The Company doesn't have any inventory and hence clause 4 (ii) of the Companies (Auditor's Report) order 2003 is not applicable to the Company.

3.

a) As informed to us, the company has granted unsecured loans to company listed in the register maintained under Section 301 of the Companies Act 1956.Loan given is to one party and the amount involved is 55.50 Lacs.

b) The rate of interest and other terms and conditions of the loan given by the company are prima facie prejudicial to the interest of the company

c) There are no stipulation as to the repayment of principal and interest, hence clause 3(d) is not applicable.

e) 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. Hence clause 3(f) & 3(g) are not applicable to the company

4. 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, for the purchase of inventory and fixed assets and for the sale of goods and services. Accordingly the issue of continuing failure to correct major weakness in internal control in these areas does not apply.

5.

a) The particulars of contracts or arrangements that need to be entered in the register maintained under Section 301 have been duly entered.

b) There are no transactions in respect of any party covered in the register to be maintained under section 301 of the Companies Act, 1956 during the financial year under consideration.

6. The company has not accepted any deposits from the public and hence the directives issued by Reserve Bank of India and the provisions of Section 58A,58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under are not applicable.

7. In our opinion, 1he company has an internal audit system commensurate with the size and nature ot its business.

8. As the company doesn't manufacture any products, clause 4 (viii) of the companies (Auditor's Report) order 2003 is not applicable to the Company.

9.

a) The company is generally regular in depositing all undisputed statutory dues including Provident fund, Investor education and protection fund, Income tax, Sales tax, Wealth tax, service tax, Customs duty, Excise duty, cess and other statutory dues wherever applicable with appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no dues outstanding of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess on account of any dispute.

10. The Company has accumulated losses at the end of the financial year under report and has not incurred cash loss in the current year and has not incurred cash loss in the immediately preceding financial year. However the accumulated losses as on 31.03.2012 are less than fifty percent of the Company's net worth.

11. The company has not defaulted in repayment of dues to Banks. There are no dues to Financial Institutions and Debenture holders by the Company during the year.

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

13. In our opinion, and according to the information and explanations given to us, the nature of activities of the Company does not attract the provisions of any special statute applicable to Chit fund and Nidhi/mutual benefit fund/societies.

14. 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 companies (Auditor's Report) order 2003 is 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 banks or financial institutions.

16. The company has not availed any term loan.

17. According to the information and explanation given to us and an overall examination of the Balance Sheet of the Company, we report that no short term funds have been raised during the year.

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

19. The company has not issued any debentures and as such the creation of securities does not arise.

20. The Company has not raised any money from public during the year.

21. According 1o the information and explanations given to us, by the management we report that no fraud on or by the Company has been noticed or reported during the year. For C.RAMASAMY & B.SRINIVASAN

Chartered Accountants

Firm Regn No : 02957S

Sd/-

C.RAMASAMY

Partner.

Membership No.23714

Place : Chennai

Date :.31.07.2012

---

Mar 31, 2011

1. We have audited the attached Balance Sheet of Betala Global Securities Limited, as at 31 st March, 2011, and also the Prolit and Loss Account and the Cash flow statement lor the year ended on that date annexed thereto. These Financial statements are the responsibility ol 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 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 Companies,(Auditor's Report) Order 2003 issued by the Central Government of India in terms of Section 227{4A)o1 the Companies Act, 1956, we enclose in the annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

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

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

II. In our opinion proper books of accounts as required by law have been kept by the company as far as appears from our examination of such books and proper returns adequate for the purposes of our audit.

III. The Balance Sheet, the Profit and Loss Account and Cash flow statement dealt with by this report are in agreement with the books of accounts.

IV. In our opinion, the Balance Sheet, the profit and loss account and the 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.

V. On the basis of the written representations received from the directors, as on 31.03.2011 and taken on record by the Board of Directors, we report that none of the directors disqualified as on 31.03.2011, from being appointed as a director in terms of clause (g) of subsection 1 to section 274 of the Companies Act 1956;

VI. Subject to the foregoing and in our opinion and to the best of our information and according to the explanations given to us, the said accounts together with the notes and schedules 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 March 31, 2011 and

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

c) In the case of Cash flow statement, of the Cash flows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

ANNEXURE REFERRED TO IN PARAGRAPH (3) OF THE AUDITORS REPORT TO THE MEMBERS OF BETALA GLOBAL SECURITIES LIMITED, ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2011:

In terms of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:

1.

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

b) All the fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on verification made during the year.

c) The company has not disposed off substantial portion of the Fixed Assets during the year.

2. The Company doesn't have any inventory and hence clause 4 (ii) of the Companies (Auditor's Report) order 2003 is not applicable to the Company.

3. As informed to us, the company has neither taken nor granted any secured / unsecured loans to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act 1956. Hence Clause 3(b), 3(c) 3(d) 3(f) and 3(g) are not applicable.

4. 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, for the purchase of inventory and fixed assets and for the sale of goods and services. Accordingly the issue of continuing failure to correct major weakness in internal control in these areas does not apply.

5.

a) The particulars of contracts or arrangements that need to be entered in the register maintained under Section 301 have been duly entered.

b) There are no transactions in respect of any party covered in the register to be maintained under section 301 of the Companies Act, 1956 during the financial year under consideration.

6. The company has not accepted any deposits from the public and hence the directives issued by Reserve Bank of India and the provisions of Section 58A,58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under are not applicable.

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

8. As the company doesn't manufacture any products, clause 4 (viii) of the companies (Auditor's Report) order 2003 is not applicable to the Company.

9.

a) The company is generally regular in depositing all undisputed statutory dues including Provident fund, Investor education and protection fund, Income tax, Sales tax, Wealth tax, service tax, Customs duty, Excise duty, cess and other statutory dues wherever applicable with appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the dale they became payable.

b) According to the records of the Company there are no dues outstanding of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess on account of any dispute.

10. The Company has accumulated losses at the end of the financial year under report and has incurred cash loss in the current year and has not incurred cash loss in the immediately preceding financial year. However the accumulated losses as on 31.03.2011 are less than fifty percent of the Company's net worth.

11. The company has not defaulted in repayment of dues to Banks. There are no dues to Financial Institutions and Debenture holders by the Company during the year.

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

13. In our opinion, and according to the information and explanations given to us, the nature of activities of the Company does not attract the provisions of any special statute applicable to Chit fund and Nidhi/mutual benefit fund/societies.

14. 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 companies (Auditor's Report) order 2003 is 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 banks or financial institutions.

16. The company has not availed any term loan.

17. According to the information and explanation given to us and an overall examination of the Balance Sheet of the Company, we report that no short term funds have been raised during the year.

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

19. The company has not issued any debentures and as such the creation of securities does not arise.

20. The Company has not raised any money from public during the year.

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

For C.RAMASAMY & B.SRINIVASAN

Chartered Accountants

Firm Regn No : 02957S

Sd/-

C.RAMASAMY

Partner Membership No.23714

Place : Chennai

Date :.06.05.2011

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of Betala Global Securities Limited, as at 31st March, 2010, and also the Profit and Loss Account and the Cash flow statement for the year ended on that date annexed thereto. These Financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

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 Companies,(Auditors Report) Order 2003 issued by the Central Government of India in terms of Section 227(4A)of the Companies Act, 1956, we enclose in the annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

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

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

II. In our opinion proper books of accounts as required by law have been kept by the company as far as appears from our examination of such books and proper returns adequate for the purposes of our audit.

III. The Balance Sheet, the Profit and Loss Account and Cash flow statement dealt with by this report are in agreement with the books of accounts.

IV. In our opinion, the Balance Sheet, the profit and loss account and the 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.

V. On the basis of the written representations received from the directors, as on 31.03.2010 and taken on record by the Board of Directors, we report that none of the directors disqualified as on 31.03.2010, from being appointed as a director in terms of clause (g) of subsection 1 to section 274 of the Companies Act 1956;

VI. Subject to the foregoing and in our opinion and to the best of our information and according to the explanations given to us, the said accounts together with the notes and schedules give the information required by the Companies Act, 1956, in the manner so required and giveatrueand fair view in conformity with the accounting principles generally accepted in India:-

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

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

c) In the case of Cash flow statement, of the Cash flows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

ANNEXURE REFERRED TO IN PARAGRAPH (3) OF THE AUDITORS REPORT TO THE MEMBERS OF BETALA GLOBAL SECURITIES LIMITED, ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2010:

In terms of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:

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

b) All the fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on verification made during the year.

c) The company has not disposed off substantial portion of the Fixed Assets during the year.

2. The Company doesnt have any inventory and hence clause 4 (ii) of the Companies (Auditors Report) order 2003 is not applicable to the Company.

3. As informed to us, the company has neither taken nor granted any secured / unsecured loans to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act 1956. Hence Clause 3(b), 3(c) 3(d) 3(f) and 3(g) are not applicable.

4. 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, for the purchase of inventory and fixed assets and for the sale of goods and services. Accordingly the issue of continuing failure to correct major weakness in internal control in these areas does not apply.

5. a) The particulars of contracts or arrangements that need to be entered in the register maintained under Section 301 have been duly entered.

b) There are no transactions in respect of any party covered in the register to be maintained under section 301 of the Companies Act, 1956 during the financial year under consideration.

6. The company has not accepted any deposits from the public and hence the directives issued by Reserve Bank of India and the provisions of Section 58A.58AA or any other relevant provisions of the Companies Act, 1956 and the rules framed there under are not applicable.

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

8. As the company doesnt manufacture any products, clause 4 (viii) of the companies (Auditors Report) order 20Q3 is not applicable to the Company.

9. a) The company is generally regular in depositing all undisputed statutory dues including Provident fund, Investor education and protection fund, Income tax, Sales tax, Wealth tax, service tax, Customs duty, Excise duty, cess and other statutory dues wherever applicable with appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable.

b) According to the records of the Company there are no dues outstanding of sales tax, income tax, customs duty, wealth tax, service tax, excise duty and cess on account of any dispute.

10. The Company has not incurred cash loss during the financial year under report but incurred cash loss in the immediately preceding financial year. However the accumulated losses as on 31.03.2010 are less than fifty percent of the Companys net worth.

11. The company has not defaulted in repayment of dues to Banks. There are no dues to Financial Institutions and Debenture holders by the Company during the year.

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

13. In our opinion, and according to the information and explanations given to us, the nature of activities of the Company does not attract the provisions of any special statute applicable to Chit fund and Nidhi/ mutual benefit fund/societies.

14. 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 companies (Auditors Report) order 2003 is 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 banks or financial institutions.

16. The company has not availed any term loan.

17. According to the information and explanation given to us and an overall examination of the Balance Sheet of the Company, we report that no short term funds have been raised during the year.

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

19. The company has not issued any debentures and as such the creation of securities does not arise.

20. The Company has not raised any money from public during the year.

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

For C.RAMASAMY & B.SRINIVASAN Chartered Accountants

Firm Registration No.: 002957S

C.RAMASAMY Place: Chennai Partner.

Date : 19.04.2010 Membership No: 23714

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Mar 31, 2000

We have audited the attached Balance Sheet of BETALA GLOBAL SECURITIES LIMITED, as at March 31, 2000 and also the Profit and Loss Account of the Company for the period ended that date and report that:-

1. As required by the Manufacturing and Other Companies (Auditors Report) Order 1988 issued by the Company Law Board in terms of section 227 (4A) of the Companies Act, 1956, we enclose in the Anrtexure a statement on the matters specified in Paragraphs 4 & 5 of the said Order.

2 Further to our comments referred to in para 1 above:

(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) Proper books of accounts as required by law have been kept by the Company so far as appears from our examination of books.

(c) The Balance Sheet and the Profit & Loss Account referred to in this report are in agreement with the Books of Account.

(d) In our opinion, and to the best of our information and according to the explanations given to us, the said Balance Sheet and the Profit and Loss Account, subject to the notes thereon give information required by the Companies Act, 1956 in the manner so required and give a true and fair view subject to note no.6 of notes to accounts.

(1) In the case of the Balance Sheet of the state of affairs of the Company as at March 31,2000 and

(2) In the case of the Profit & Loss Account of the Profit for the period ended that date.

ANNEXURETO THE AUDITORS REPORT

As required under the Manufacturing andOther Companies (Auditors Report) Order, 1988and on the basis of such checks as we considered appropriate, we further report that:

1.01. As the company is a Investments company, the provisions of Sub-Clauses (iii),(iv),(v),(vi),(xii),(xiv),(xvi) and (xx) of Clause A of Paragraph 4 of the Manufacturing and Other Companies (Auditors Report) Order 1988 (MAOCARO), are not applicable.

1.02. The company has maintained proper records showing full particulars including quantitative details and situation of fixed asset. The asset has been physically verified by the management regularly at reasonable intervals and no major discrepancies were noticed on such verification by the Management.

1.03. The Fixed Asset has not been revalued during the year.

1.04. The company has not taken any loan from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 or to companies under the same management within the meaning of Section 370(18) of the Companies Act, 1956 where the rate of interest and terms and conditions, are, in our opinion, prima facie prejudicial to the interest of the company.

1.05. The company has granted interest free loans/advance to companies, persons listed in the register maintained under section 301 of the Companies Act, 1956 which is not prima facie prejudicial to the interest of the company.

1.06 Except in the case of some advances where the company has taken reasonable steps for recovery of principal and interest, parties to whom advances have been given by the company are regular in payment of interest,wherever applicable.

1.07. The company has an adequate internal control procedure commensurate with the size of the company and the nature of its business for the purchase of plant and machinery, equipment and other assets. The other transactions covered under Clause (x) of Paragraph 4(A) of MAOCARO are not applicable.

1.08. The prices for services rendered/received from companies entered in the register maintained under section 301 of the Companies Act, 1956 and aggregating during the year to Rs.50,000 or more are reasonable having regard to prevailing market price for such services.

1.09. The company has not accepted fixed deposits from the public.

1.10. The company has an internal audit system, commensurate with the stee and nature of its business.

1.11. According to the information and explanations given to us, Employees State insurance scheme and Provident Fund are not applicable to the company.

1.12. According to the information and explanations given to us, there were no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty and excise duty which have remained outstanding as at the close of the year for a period of more than six months from the date they became payable,

1.13. According to the information and explanations given to us, no personal expenses have been charged to Profit and Loss account other than those payable under contractual obligations or in accordance with generally accepted business practices.

1.14. The provisions of any special statutes applicable to Chit Funds, Nidhi or Mutual Benefit Society do not apply to the company.

1.15. The company has granted loans and advances which are unsecured and are considered good and for which adequate documents and records are maintained.

1.16. The company is not a sick industrial company within the meaning of clause
for VENKAT AND RANGAA Chartered Accountants

S. MANJSEKARAN Partner. Place: Chennai, Date : May27,2000.