Auditor Report of Eastern Gases Ltd.

Mar 31, 2016

Report on the Financial Statements

We have audited the accompanying financial statements of EASTERN GASES LIMITED (“the Company”) which comprise the Balance Sheet as at March 31, 2016, the Statement of Profit and Loss, the Cash Flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management Responsibility for the Financial Statements

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the companies Act, 2013(''the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flow of the company in accordance with the accounting principles generally accepted in India, including the Accounting Standard 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 control 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

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

We have taken into account the provisions of the Act, and the Rules made there under including the accounting and matters which are required to be included in the audit report.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards and pronouncement require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditors judgment including the assessment of the risk s 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 n 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, of the state of affairs of the company as at March 31, 2016, and its profit and its cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the companies (Auditor''s Report) Order 2016 (“the order”) issued by the central government of India in terms of sub-section (11) of Section 143 of the Act, we give in the ''Annexure A'' a statement on the matters specified in paragraph 3 and 4 of the order.

1. As required by section 143(3) of the Act, we report that:

a) We have sought 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 and Statement of Profit and Loss, and the Cash flow statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid financial Statement 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 March 31, 2016, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2016, from being appointed as a director in terms of section 164(2) of the Act.

f) with respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate report in ''Annexure B''; and

g) With respect to the other matters to be included in the Auditors 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 major pending litigations as at March 31, 2016 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 during the year end.

The ''Annexure A'' referred to in our report to the members of EASTERN GASES LTD. for the year ended on March 31, 2016. We report that:

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

(b)The fixed assets have been physically verified by the management at reasonable intervals and in our opinion it is reasonable considering the size of company and nature of asset no such material discrepancies were noticed on such verification and if so, the same have been properly dealt with in the books of account;

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

(ii) (a) Physical verification of inventory including stock with third parties has been conducted at reasonable intervals by the management and if any material discrepancies were noticed on physical verification, the same have been properly dealt with in the books of account;

(iii) The company has not granted any loans, secured or unsecured to companies, firms, limited liability partnerships or other parties covered in the register maintained under section 189 of the Companies Act.

(iv) The company has not given any loans, investments, guarantees and security under the provisions of section 185 and 186 of the Companies Act.

(v) The company has not accepted deposits, from the public within the meaning of sections 73 and 74 or any other relevant provisions of the Companies Act and the rules framed there under.

(vi) Maintenance of cost records has not been specified by the Central Government under sub-section (1) of section 148 of the Companies Act.

(vii) (a) According to our information and explanation given to us and as per the records of the company, the company has been regular generally regular in depositing the undisputed statutory dues including provident fund, employees'' state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities. There are no arrears of undisputed statutory dues of material nature outstanding for a period of more than six months

(b) Dues of income tax or sales tax or service tax or duty of customs or duty of excise or value added tax or cess have not been deposited on account of any dispute, then the amounts involved and the forum where dispute is pending have been mentioned below-

Name of Statute	Nature of Dues	Amount Involved (Rs. in Lacs)	Period to which the amount relates	Forum where demand is pending
Income Tax Act 1961	Income Tax	17.29	2005-06, 200607, 2007-08, 2010-11, 201112 & 2013-14	Income Tax Assessing Officer
West Bengal Value Added Tax Act, 2003	Value Added Tax	1179.39	2008-09,200910 & 2010-11	WB CT A &R Board
The Central Sales Tax Act, 1956	Central Sales Tax	21.24	2008-09 & 2010-11	WB CT A &R Board

(A mere representation to the concerned Department is not considered as a dispute).

(viii) According to the records of the company examined by us, the company has not defaulted in repayment of loans or borrowing to a financial institution, bank, government or dues to debenture holders as at balance sheet date.

(ix) In our opinion, and accordance to the information and explanation given to us, the company has not moneys raised by way of initial public offer or further public offer (including debt instruments) and term loans during the year. The term loans have been applied, on an overall basis for the purpose for which the loans were obtained.

(x) In our opinion, and accordance to the information and explanation given to us, we have not came across any instance of material fraud by the company or any fraud on the company by its officers or employees has been noticed or reported during the year, nor have been informed of any such case by the management.

(xi) In our opinion, managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with schedule V to the Companies Act.

(xii) In our opinion and the information given by the management, the company is not the Nidhi Company. The provisions of Companies (Auditors'' Report) Order, 2016 Para 3 Clause (xii) is not applicable to the company.

(xiii) In our opinion, and the information given by the management, all transactions with the related parties are in compliance with section 177 and 188 of the Companies Act wherever applicable if any.

(xiv) According to our information and explanation given to us and as per the records maintained, the company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review. The provisions of Companies (Auditors'' Report) Order, 2016 Para 3 Clause (xiv) is not applicable to the company.

(xv) According to our information and explanation given to us, the company has not entered into any non- cash transactions with directors or persons connected with him. The provisions of Companies (Auditors'' Report) Order, 2016 Para 3 Clause (xv) is not applicable to the company.

(xvi) The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. The provisions of Companies (Auditors'' Report) Order, 2016 Para 3 Clause (xvi) is not applicable to the company.

For C.B.C. & Associates

Chartered

Accountants

F.R. No: 325794E

(Chinmaya Prasad Biswal)

Place: Kolkata

Partner

Date: 30.05.2016 Membership No. 065753

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Mar 31, 2015

We have audited the accompanying financial statements of Eastern Gases Limited (" the Company") which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss, the Cash Flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in section 134(5) of the companies Act, 2013('the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flow of the company in accordance with the accounting principles generally accepted in India, including the Accounting Standard 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 control 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

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

We have taken into account the provisions of the Act, and the Rules made there under including the accounting and matters which are required to be included in the audit report.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards and pronouncement require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditors judgment including the assessment of the risk s 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 n 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, of the state of affairs of the company as at March 31, 2015, and its profit and its cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the companies (Auditor's Report) Order 2015 ("the order") issued by the central government of India in terms of sub-section (11) of Section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraph 3 and 4 of the order

1. As required by section 143(3) of the Act, we report that:

a) We have sought 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 and Statement of Profit and Loss, and the Cash flow statement dealt with by this Report are in agreement with the books of account.

d) On the basis of written representations received from the directors as on March 31, 2015, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of section 164(2) of the Act.

e) With respect to the other matters to be included in the Auditors 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 major pending litigations as at March 31, 2015 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) the Company was engaged in trading business of multi-products

iv) there were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the year end.

Annexure to the Auditors' Report

The Annexure referred to in our report to the members of EASTERN GASES LTD. for the year ended on March 31,2015. We report that:

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

(b)The fixed assets have been physically verified by the management at reasonable intervals and in our opinion it is reasonable considering the size of company and nature of asset no such material discrepancies were noticed on such verification and if so, the same have been properly dealt with in the books of account;

[ii) (a) physical verification of inventory including stock with third parties has been conducted at reasonable intervals by the management;

(b) 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) ln our opinion the company is maintaining proper records of inventory and if any material discrepancies were noticed on physical verification, the same have been properly dealt with in the books of account

[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 Companies Act

(iv) In our opinion, and accordance to the information and explanation 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.

(y) The company has not accepted deposits, from the public within the meaning of sections 73 and 74 or any other relevant provisions of the Companies Act and the rules framed there under.

(vi) Maintenance of cost records has not been specified by the Central Government under sub-section (1) of section 148 of the Companies Act.

(vii) (a) According to our information and explanation given to us and as per the records of the company, the company has been regular generally regular in depositing the undisputed statutory dues including provident fund, employees' state insurance, income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities. There are no arrears of undisputed statutory dues of material nature outstanding for a period of more than six months

(b)ln case of dues of income tax or sales tax or wealth tax or service tax or duty of customs or duty of excise or value added tax or cess , the following dues have not been deposited on account of pending disputes. The details are mentioned below -

Name of Statute Nature of Dues Amount Involved Rs. in Lacs

Income Tax Act Income Tax/lnterest Rs 2.79 1961 /Penalty A Y 2007-08

Income Tax Act Income Tax/lnterest Rs 3.43 1961 /Penalty A Y 2008-09

Income Tax Act Income Tax/lnterest Rs 7.23 1961 /Penalty A Y 2012-13-

The west Bengal Demand/ITC Rs 221.99 value Added Tax Disallowance FY Act, 2003 2008-09

The Central Demand/ITC Rs 1.09 Sales Tax Act, Disallowance FY 1956 2008-09

The west Bengal Demand/ITC Rs 352.55 value Added Tax Disallowance FY Act, 2003 2009-10

The west Bengal Demand/ITC Rs 604.85 value Added Tax Disallowance FY Act, 2003 2010-11

The Central Demand/ITC Rs 20.15 Sales Tax Act, Disallowance FY 1956 2010-11

The Central Demand/ITC Rs 1.37 Sales Tax Act, Disallowance FY 1956 2011-12

Name of Statute Forum where demand is pending

Income Tax Act Income Tax 1961 Department's -CPC Bengaluru

Income Tax Act Income Tax 1961 Department's -CPC Bengaluru

Income Tax Act Income Tax 1961 Department's -CPC Bengaluru

The west Bengal WBCTA&RBoard value Added Tax Act, 2003

The Central WB CT A &R Board Sales Tax Act, 1956

The west Bengal WB CT A &R Board value Added Tax Act, 2003

The west Bengal STCC Taxes value Added Tax Act, 2003

The Central STCC Taxes Sales Tax Act, 1956

The Central Jt. Commissioner Sales Tax Act, 1956

(viii) The company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in such financial year and in the immediately preceding financial year;

(ix) According to the records of the company examined by us, the company has not defaulted in repayment of dues to a financial institution or bank or debenture holders as at balance sheet date.

(x) the company has not given any guarantee for loans taken by others from bank or financial institutions.

(xi) In our opinion, and accordance to the information and explanation given to us, the term loans have been applied, on an overall basis for the purpose for which the loans were obtained.

(xii) We have not came across any instance of material fraud on or by the company noticed or reported during the year, nor have been informed of any such case by the management.

For Sarkar Gurumurthy & Associates Chartered Accountants F.R. No: 314062E (Parimal Sarkar) Partner

Place: Kolkata Membership No.051550 Date: 30.05.2015

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Mar 31, 2014

We have audited the accompanying financial statements of Eastern Gases Limited (" the Company") which comprise the Balance Sheet as at March 31, 2014, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management 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 and financial performance of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Company Affairs in respect of Section 133 of the Companies Act, 2013 and with the Accounting Principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors'' Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, 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.

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

Opinion

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

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

b) in the case of the Profit and Loss Account, of the profit for the year ended on that date; 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 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 comply with the Accounting Standards notified under 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;

e) on the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

Referred to in Paragraph 1 under the heading of "Report on Other Legal and Regulatory Requirements" of our report of even date

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

(b) As explained to us the fixed assets have been physically verified by the management during the year in a phased / Periodical manner which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, Company has not disposed of any substantial/major part of fixed assets, so the question of going concern being affected does not arise.

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

(b) In our opinion and according to the information and explanations given to us, 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) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory, the Company is maintaining proper records of inventory. As explained to us there were no material discrepancies noticed on physical verification of inventory as compared to the book records.

iii. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loan , secured or unsecured, to companies, firms or other parties listed in the Register maintained under section 301 of the Companies Act, 1956.

(b) According to the information and explanations given to us and on the basis of our examination of the books of accounts, the company has not taken any loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Thus sub clauses (f) & (g) are not applicable to the company.

iv. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control system commensurate with the size of the Company and nature of its business, for the purchase of inventories and fixed assets , payment for expenses & for sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls. v. (a) Based on the audit procedures applied by us and according to the information and explanations provided by the management, the particulars of contracts or arrangements referred to section 301 of the companies Act, need not be entered in the register required to be maintained under that section as the promoter director holds less than 2% of the paid up share capital of the other company.

(b) According to the information and explanations given to us there are no transactions of purchase of goods and material in excess of Rs. 5 lakhs during the year with the parties covered under section 301 of the companies Act, 1956.

vi. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the Provisions of Section 58A of the Companies Act, 1956 and rules there under.

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

viii. We have broadly reviewed the books of account maintained by the Company.

As explained to us the maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 are not prescribed by the Central Government.

ix.According to the records of the Company and explanations given to us, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income -Tax, Sales Tax, Wealth-Tax, Customs Duty, Excise Duty, Cess and other Statutory dues with the appropriate authorities during the year. According to the information and explanations given to us, there were no outstanding statutory dues as on 31st of March, 2013 for a period of more than six months from the date they became payable.

x. The Company has not incurred cash losses during current and the immediately preceding financial year.

xi. Based on our audit procedures and on the basis of information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

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

xiii. The provisions of any Special Statute applicable to Chit Fund, Nidhi or Mutual Benefit fund/Societies 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. Based on our audit procedures and to the best of our knowledge and belief and according to the information and explanations given to us, the company has not given any guarantees for loan taken by others, from a bank or financial institution.

xvi. 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 no funds raised on short-term basis have been used for long-term investment by the Company and vice versa.

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. According to the information and explanations given to us, and the records examined by us, the Company has not issued any debentures hence no question of creation of securities arises.

xx. The Company has not raised money by any public issues during the year and hence the question of disclosure and verification of end use of such money does not arise.

xxi. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year.

FOR SARKAR GURUMURTHY & ASSOCIATES Chartered Accountants Place : Kolkata (Firm Regn.No: 314062E) Dated : 31st May, 2014 Parimal Sarkar (Partner) M.No.051550

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Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of Eastern Gases Limited (''the Company") which comprise the Balance Sheet as at March 31, 2013, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management 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 referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (''the Act”). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors'' Responsibility

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

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

Opinion

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

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

The Annexure referred to in paragraph 1 of our report of even date to the members of Eastern Gases Limited on the accounts of the company for the year ended 31st March, 2013.

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

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

(b) As explained to us the fixed assets have been physically verified by the management during the year in a phased /

Periodical manner which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, Company has not disposed of any substantial/major part of fixed assets, so the question of going

concern being affected does not arise. ii. (a) As explained to us, the inventory has been physically verified during the year by the management. In our Opinion, the frequency of verification is reasonable. (b) In our opinion and according to the information and explanations given to us, the rocedures 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) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory, the Company is maintaining proper records of inventory. As explained to us there were no material discrepancies noticed on physical verification of inventory as compared to the book records.

iii. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loan , secured or unsecured, to companies, firms or other parties listed in the Register maintained under section 301 of the Companies Act, 1956. Consequently, the provisions of clauses iii

(b),iii(c) and iii(d) of the order are not applicable to the Company.

(b) According to the information and explanations given to us and on the basis of our examination of the books of accounts, the company has not taken any loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956. Thus sub clauses (f) & (g) are not applicable to the company.

iv. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control system commensurate with the size of the Company and nature of its business, for the purchase of inventories and fixed assets, payment for expenses & for sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

v. (a) Based on the audit procedures applied by us and according to the information and explanations provided by the management, the particulars of contracts or arrangements referred to section 301 of the companies Act, need not be entered in the register required to be maintained under that section as the promoter director holds less than 2% of the paid up share capital of the other company.

(b) According to the information and explanations given to us there are no transactions of purchase of goods and material in excess of Rs. 5 lakhs during the year with the parties covered under section 301 of the companies Act, 1956.

vi. In our opinion and according to the information and explanations given to us, the Company has not accepted any

deposits from the public within the Provisions of Section 58A of the Companies Act, 1956 and rules there under. vii. In our opinion, the Company has an internal audit system commensurate with the size and the nature of its business.

viii. We have broadly reviewed the books of account maintained by the Company. As explained to us the maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 are not prescribed by the Central Government.

ix. According to the records of the Company and explanations given to us, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income -Tax, Sales Tax, Wealth-Tax, Customs Duty, Excise Duty, Cess and other Statutory dues with the appropriate authorities during the year. According to the information nd explanations given to us, there were no outstanding statutory dues as on 31st of March, 2013 for a period of more than six months from the date they became payable.

x. The Company has not incurred cash losses during current and the immediately preceding financial year.

xi. Based on our audit procedures and on the basis of information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

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

xiii. The provisions of any Special Statute applicable to Chit Fund, Nidhi or Mutual Benefit fund/Societies are not applicable to the Company.

xiv. Based on our audit procedures and to the best of our knowledge and according to the information and explanations given to us, we are of the opinion that the company is maintaining proper record of the transactions and contracts of dealing in shares and securities and that timely entries have been made in these records.

xv. Based on our audit procedures and to the best of our knowledge and belief and according to the information and explanations given to us, the company has not given any guarantees for loan taken by others, from a bank or financial institution.

xvi. To the best of our knowledge and belief and according to the information and explanations given to us the company has raised 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 investment by the Company and vice versa.

xviii. The Company has made preferential allotment to parties and companies during the year not covered under register maintained Under Section 301 of the Companies Act, 1956, and the price at which shares have been issued is not prejudicial to the interest of the company.

xix. According to the information and explanations given to us, and the records examined by us, the Company has not issued any debentures hence no question of creation of securities arises.

xx. The Company has not raised money by any public issues during the year and hence the question of disclosure and verification of end use of such money does not arise.

xxi. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year.

FOR SARKAR GURUMURTHY & ASSOCIATES

Chartered Accountants

(Firm Regn.No: 314062E)

Parimal

Sarkar

Place: Kolkata (Partner)

Dated: 31st May, 2013 M.No. 051550

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Mar 31, 2012

We have audited the attached Balance Sheet of EASTERN GASES 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.

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 a significant estimate made by our audit provides a reasonable basis for our opinion.

We report as follows:

1. 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 the paragraphs 4 and 5 of the said Order.

2. Further to our comments in the Annexure referred to in paragraph 1 above:

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

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

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

d) In our opinion, the Balance Sheet, Profit and 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 the written representations received from the Directors as on 31st March, 2012 and taken on record by the Board of Directors, none of the Directors of the Company is disqualified as on 31st March, 2012 from being appointed as Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956;

f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read together with the Company-s Accounting Policies and the Notes thereto, give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) In the case of the Balance Sheet, of the state of affairs of the Company as on 31st March, 2012;

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

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

Annexure to the Auditors' Report Referred to in paragraph 1 of our report of even date:

1. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

2. As explained to us the fixed assets have been physically verified by the management during the year in a phased / Periodical manner which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

3. During the year, Company has not disposed of any substantial/major part of fixed assets, so the question of going concern status being affected does not arise.

4. As explained to us, the inventory has been physically verified during the year by the management. In our Opinion, the frequency of verification is reasonable.

5. In our opinion and according to the information and explanations given to us, 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.

6. In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory; the Company is maintaining proper records of inventory. As explained to us there were no material discrepancies noticed on physical verification of inventory a compared to the book records.

7. According to the information and explanations given to us, the Company has not taken any loan from or granted any loan to the Parties listed in the Register maintained under section 301 of the Companies Act, 1956.

8. According to the information and explanations given to us; parties to whom loans and advances in the nature of loans have been given, where stipulations are made, are repaying the principal amount as stipulated.

9. According to the information and explanations given to us; there is no overdue amount of loans granted to the parties listed in the Register maintained under Section 301 of the Companies Act, 1956.

10. 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 nature of its business with regard to the purchase of inventory and fixed assets, and with regard to the sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

11. Based on audit procedures applied by us, to the best of our knowledge and belief and according to the information and explanations given to us, we are of the opinion that the transactions that needed to be entered into the register maintained under Section 301 have been so entered.

12. According to the information and explanations given to us there are no transactions of purchase of goods and material in excess of Rs. 5 lakhs in respect of any party.

13. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the Provisions of Section 58A of the Companies Act, 1956 and rules there under.

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

15. We have broadly reviewed the books of account maintained by the Company. As explained to us the maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 are not prescribed by the Central Government.

16. According to the records of the Company and explanations given to us, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees- State Insurance, Income -Tax, Sales Tax, Wealth-Tax, Customs Duty, Excise Duty, Cess and other Statutory dues with the appropriate authorities during the year.

17. The Company has not incurred cash losses during current and the immediately preceding financial year.

18. Based on our audit procedures and on the basis of information and explanations given by the management, we are of the opinion that the Company has not defaulted in the repayment of dues to banks.

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

20. The provisions of any Special Statute applicable to Chit Fund, Nidhi or Mutual Benefit fund/Societies are not applicable to the Company.

21. Based on our audit procedures and to the best of our knowledge and according to the information and explanations given to us, we are of the opinion that the company is maintaining proper record of the transactions and contracts of dealing in shares and securities and that timely entries have been made in these records.

22. Based on our audit procedures and to the best of our knowledge and belief and according to the information and explanations given to us, the shares and securities have been held by the Company in its own name.

23. 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 investment by the Company and vice versa.

24. The Company has not made any preferential allotment to parties and companies covered under register maintained Under Section 301 of the Companies Act, 1956, during the year and question of whether the price at which the shares have been issued is prejudicial to the interest of the Company does not arise.

25. According to the information and explanations given to us, and the records examined by us, the Company has not issued any debentures hence no question of creation of securities.

26. The Company has not raised money by any public issues during the year and hence the question of disclosure and verification of end use of such money does not arise.

27. To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year. FOR SARKAR GURUMURTHY & ASSOCIATES Place : Kolkata Chartered Accountants

Dated : 31st May 2012 Parimal Sarkar

(Partner) M.No. 051550

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Mar 31, 2009

We have audited the attached Balance Sheet of EASTERN GASES LIMITED as at 31st March, 2009, 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.

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 a significant estimate made by our audit provides a reasonable basis for our opinion. We report as follows:

1. 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 the paragraphs 4 and 5 of the said Order.

2. Further to our comments in the Annexure referred to in paragraph 1 above:

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

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

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

d) In our opinion, the Balance Sheet, Profit and 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 CompaniesAct, 1956;

e) On th,e basis of the written representations received from the Directors as on 31st March, 2009 and taken on record by the Board of Directors none of the Directors of the Company is disqualified as on 31" March, 2009 from being appointed as Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956

f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read together with the Companys Accounting Policies and the Notes thereto, (specifically note no. 4 of the Notes on account attached herewith) give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) In the case of the Balance Sheet, of the state of affairs of the Company as on 31st March, 2009;

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

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

Annexure to the Auditors Report Referred to in paragraph 1 of our report of even date:

1. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

2. As explained to us the fixed assets have been physically verified by the management during the year in a phased / Periodical manner which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

3. During the year. Company has not disposed of any substantial/major part of fixed assets.

4. As explained to us, the inventory has been physically verified during the year by the management. In our Opinion, the frequency of verification is reasonable.

5. In our opinion and according to the information and explanations given to us, 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.

6 In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory; the Company is maintaining proper records of inventory. As explained to us there were no material discrepancies noticed on physical verification of inventory as compared to the book records. v

7. According to the information and explanations given to us, the Company has not taken any loan from or granted any loan to the Parties listed in the Register maintained under section 301 of the Companies Act, 1956

8. According to the information and explanations given to us; parties to whom loans and advances in the nature of loans have been given, where stipulations are made, are repaying the principal amount as stipulated.

9. According to the information and explanations given to us; there is no overdue amount of loans granted to the parties listed in the Register maintained under Section 301 of the CompaniesAct, 1956.

10. 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 nature of its business with regard to the purchase of inventory and fixed assets, and with regard to the sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

11. In respect of transactions entered in the register maintained in pursuance of section 301 of the CompaniesAct, 1956,

12. Based on audit procedures applied by us, to the best of our knowledge and belief and according to the information and explanations given to us, we are of the opinion that the transactions that needed to be entered into the register maintained under Section 301 have been so entered.

13. According to the information and explanations given to us there are no transactions of purchase of goods and material in excess of Rs. 5 lakhs in respect of any party.

14. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the Provisions of Section 58A of the Companies Act, 1956 and rules there under.

15. In our opinion, the Company has an interna! audit system commensurate with the size and the nature of its business.

16. We have broadly reviewed the books of account maintained by the Company. As explained to us the maintenance of cost records under Section 209(1 )(d) of the CompaniesAct, 1956 are not prescribed by the Central Government.

17. According to the records of the Company and explanations given to us, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income -Tax, Sales Tax, Wealth- Tax, Customs Duty, Excise Duty, Cess and other Statutory dues with the appropriate authorities during the year.

18. The Company has not incurred cash losses during current and the immediately preceding financial year.

19. Based on our audit procedures and on the basis of information and explanations given by the management, we are of the opinion that the Company has not defaulted in the repayment of dues to banks.

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

21. The provisions of any Special Statute applicable to Chit Fund, Nidhi or Mutual Benefit fund/Societies are not applicable to the Company.

22. Based on our audit procedures and to the best of our knowledge and according to the information and explanations given to us. we are of the opinion that the company is maintaining proper record of the transactions and contracts of dealing in shares and securities and that timely entries have been made in these records.

23. Based on our audit procedures and to the best of our knowledge and belief and according to the information and explanations given to us, the shares and securities have been held by the Company in its own name.

24. To the best of our knowledge and belief and according to the information and explanations given to us the company in its own name has held the shares and securities.

25. 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 investment by the Company and vice versa.

26. The Company has not made any preferential allotment to parties and companies covered under register maintained Under Section 301 of the CompaniesAct, 1956, during the year and question of whether the price at which the shares have been issued is prejudicial to the interest of the Company does not arise.

27. According to the information and explanations given to us, and the records examined by us, the Company has not issued any debentures hence no question of creation of securities.

28. The Company has not raised money by any public issues during the year and hence the question of disclosure and verification of end use of such money does not arise.

29.To the best of our knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year.

FOR SARKAR GURUMURTHY & ASSOCIATES Chartered Accountants

Basudeb Monda

Place : Kolkata Partner

Dated : 30th June 2009