Auditor Report of Flomic Global Logistics Ltd.

Mar 31, 2025

FLOMIC GLOBAL LOGISTICS LIMITED REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS

Opinion

We have audited the accompanying financial statements of Flomic Global Logistics Limited (‘the company’) which comprises the Balance Sheet as at 31^st March, 2025, the Statement of Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement and the statement of Changes in Equity for the year ended on that date, and a summary of the significant accounting policies and other explanatory Information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 (‘The Act’) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India including the Indian Accounting Standards (“Ind AS”) prescribed under section 133 of the Act, of the state of affairs of the Company as at 31^st March, 2025, its Profit (including Other Comprehensive Income), its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with Code of Ethics issued by The Institute of Chartered Accountants of India (‘ICAI’) together with ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the financial statement.

Key Audit Matter

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

In this context, we have determined that there is no key audit matter to communicate in our report.

Information other than the Financial Statements and Auditor’s Report thereon

The Company’s Board of Directors are responsible for the other information. The other information comprises the information included in the Annual Report (Such as Management discussion and Analysis, Report on Corporate Governance, Director’s Report etc.), but does not include the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

The accompanying financial statements have been approved by the Company’s Board of Directors. The Company’s Board of Directors are responsible for the matters stated in section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation and presentation of these financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the IND AS specified under Section 133 of the Act. This responsibility also includes the maintenance of adequate accounting

records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the 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.

In preparing the financial statements, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor''s report that includes our opinion. Reasonable assurance is a high level of assurance; but is not a guarantee that an audit conducted in accordance with Standard on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Standards on Auditing specified under section 143(10) of the Act, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143 (3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has an adequate internal financial control with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management''s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor''s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor''s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect on any identified misstatements in the financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were most significance in the audit of the financial statements of the current period and are therefore the key Audit matters. We describe these matters in our Auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 (‘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 paragraphs 3 and 4 of the order, to the extent applicable.

2. As required by section 143(3) of the Act, based on our audit we report that:

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

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

c. The Financial 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 the Companies (Indian Accounting Standards) Rules, 2015 (as amended).

e. On the basis of the written representation received from the directors as on 31^st March, 2025 taken on record by the Board of Directors, none of the directors is disqualified as on 31^st March, 2025 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 with reference to financial statements of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”.

g. With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act.

h. With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 (as amended), in our opinion and to the best of our information and according to the explanations given to us;

(i) The Company has disclosed the impact of pending litigations which would impact its financial position as on 31^st March, 2025 (Refer Note 39 to the financial statements);

(ii) The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses as on 31^st March, 2025;

(iii) There was no amount which required to be transferred by the Company to the Investor Education and Protection Fund during the year ended 31^st March, 2025;

(iv) (a) The management has represented that, to the best of its knowledge and belief, no funds have

been advanced or loaned or invested (either from borrowed funds or securities premium or any other sources or kind of funds) by the Company to or in any person or entity, including foreign entities (‘the intermediaries’), with the understanding, whether recorded in writing or otherwise, that the intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (‘the Ultimate Beneficiaries’) or provide any guarantee, security or the like on behalf the Ultimate Beneficiaries;

(b) The management has represented that, to the best of its knowledge and belief, no funds have been received by the Company from any person or entity, including foreign entities (‘the Funding Parties’), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (‘Ultimate Beneficiaries’) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

(c) Based on such audit procedures performed, as considered reasonable and appropriate in the circumstances, nothing has come to our attention that causes us to believe that the management representations under sub-clauses (a) and (b) above contain any material misstatement.

(v) The company has not declared any dividend during the financial year.

(vi) Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account for the financial year ended 31^st March, 2025 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with and audit trail has been preserved by the Company as per the statutory requirements for record retention.

For DOOGAR & ASSOCIATES CHARTERED ACCOUNTANTS FIRM REGISTRATION NO.:000561N

SD/-

VIJAY K. BORA (Partner)

Membership No.:102675 UDIN: 25102675BMLBHU8426

Place : Mumbai Date : May 26, 2025

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Mar 31, 2024

We have audited the accompanying financial statements of Flomic Global Logistics Limited (Formerly
Known as Vinaditya Trading Co Ltd) (‘the company'') which comprises the Balance Sheet as at 31^st
March, 2024, the Statement of Profit and Loss (including Other Comprehensive Income), the Cash Flow
Statement and the statement of Changes in Equity for the year ended on that date, and a summary of the
significant accounting policies and other explanatory Information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
financial statements give the information required by the Companies Act, 2013 (‘The Act'') in the manner so
required and give a true and fair view in conformity with the accounting principles generally accepted in India
including the Indian Accounting Standards (“Ind AS”) prescribed under section 133 of the Act, of the state of
affairs of the Company as at 31^st March, 2024, its Profit (including Other Comprehensive Income), its cash
flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the
Auditor''s Responsibilities for the Audit of the Financial Statements section of our report. We are independent
of the Company in accordance with Code of Ethics issued by The Institute of Chartered Accountants of
India (‘ICAI'') together with ethical requirements that are relevant to our audit of the financial statements
under the provisions of the Companies Act, 2013, and the Rules thereunder, and we have fulfilled our other
ethical responsibilities in accordance with these requirements and the ICAI''s Code of Ethics. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on
the financial statement.

Key Audit Matter

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit
of the financial statements of the current period. These matters were addressed in the context of our audit of
the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate
opinion on these matters.

In this context, we have determined that there is no key audit matter to communicate in our report.

Information other than the Financial Statements and Auditor’s Report thereon

The Company''s Board of Directors are responsible for the other information. The other information
comprises the information included in the Annual Report (Such as Management discussion and Analysis,
Report on Corporate Governance, Director''s Report etc.), but does not include the financial statements and
our auditor''s report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any
form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements
or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the
work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

The accompanying financial statements have been approved by the Company''s Board of Directors. The
Company''s Board of Directors are responsible for the matters stated in section 134(5) of the Companies Act,
2013 (“the Act”) with respect to the preparation and presentation of these financial statements that give a true
and fair view of the financial position, financial performance including other comprehensive income, changes
in equity and cash flows of the Company in accordance with the accounting principles generally accepted
in India, including the IND AS specified under Section 133 of the Act. This responsibility also includes the
maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding
of the assets of the Company and for preventing and detecting the 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.

In preparing the financial statements, the Board of Directors are responsible for assessing the Company''s
ability to continue as a going concern, disclosing as applicable, matters related to going concern and using
the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company
or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company''s financial reporting process.
Auditor’s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor''s report that
includes our opinion. Reasonable assurance is a high level of assurance; but is not a guarantee that an
audit conducted in accordance with Standard on Auditing will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.

As part of an audit in accordance with Standards on Auditing specified under section 143(10) of the Act, we
exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143 (3)(i) of the Act, we are also responsible
for expressing our opinion on whether the company has an adequate internal financial control with
reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.

• Conclude on the appropriateness of management''s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company''s ability to continue as a going concern. If
we conclude that a material uncertainty exists, we are required to draw attention in our auditor''s report
to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify
our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor''s
report. However, future events or conditions may cause the Company to cease to continue as a going
concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in
a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate,
makes it probable that the economic decisions of a reasonably knowledgeable user of the financial
statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning
the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect on any
identified misstatements in the financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters
that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that
were most significance in the audit of the financial statements of the current period and are therefore the key
Audit matters. We describe these matters in our Auditor''s report unless law or regulation precludes public
disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should
not be communicated in our report because the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 (‘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 paragraphs 3 and 4 of the order, to the extent applicable.

2. As required by section 143(3) of the Act, based on our audit we report that:

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

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

c. The Financial 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 the Companies (Indian Accounting Standards) Rules,
2015 (as amended).

e. On the basis of the written representation received from the directors as on 31^st March, 2024
taken on record by the Board of Directors, none of the directors is disqualified as on 31^st March,
2024 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 with reference to financial statements
of the Company and the operating effectiveness of such controls, refer to our separate Report in
“Annexure B”.

g. With respect to the other matters to be included in the Auditor''s Report in accordance with the
requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanations given to us,
the remuneration paid by the Company to its directors during the year is in accordance with the
provisions of section 197 of the Act.

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

(i) The Company has disclosed the impact of pending litigations which would impact its
financial position as on 31^st March, 2024 (Refer Note 39 to the financial statements);

(ii) The Company did not have any long-term contracts including derivative contracts for which
there were any material foreseeable losses as on 31^st March, 2024;

(iii) There was no amount which required to be transferred by the Company to the Investor
Education and Protection Fund during the year ended 31^st March, 2024;

(iv) (a) The management has represented that, to the best of its knowledge and belief,

no funds have been advanced or loaned or invested (either from borrowed funds
or securities premium or any other sources or kind of funds) by the Company to
or in any person or entity, including foreign entities (‘the intermediaries''), with the
understanding, whether recorded in writing or otherwise, that the intermediary shall,
whether, directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company (‘the Ultimate Beneficiaries'') or
provide any guarantee, security or the like on behalf the Ultimate Beneficiaries;

(b) The management has represented that, to the best of its knowledge and belief, no
funds have been received by the Company from any person or entity, including foreign
entities (‘the Funding Parties''), with the understanding, whether recorded in writing or
otherwise, that the Company shall, whether directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding
Party (‘Ultimate Beneficiaries'') or provide any guarantee, security or the like on behalf
of the Ultimate Beneficiaries; and

(c) Based on such audit procedures performed, as considered reasonable and appropriate
in the circumstances, nothing has come to our attention that causes us to believe that
the management representations under sub-clauses (a) and (b) above contain any
material misstatement.

(v) Based on our examination, which included test checks, the Company has used accounting
software for maintaining its books of account for the financial year ended 31^st March, 2024
which has a feature of recording audit trail (edit log) facility and the same has operated
throughout the year for all relevant transactions recorded in the software. Further, during
the course of our audit we did not come across any instance of the audit trail feature being
tampered with.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from 1^st
April, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014
on preservation of audit trail as per the statutory requirements for record retention is not
applicable for the financial year ended 31^st March, 2024.

For DOOGAR & ASSOCIATES GLOBAL LOGISTICS LTD

CHARTERED ACCOUNTANTS

FIRM REGISTRATION NO.:000561N

Sd/-

VIJAY K. BORA

(Partner)

Membership No.:102675

UDIN: 24102675BKEEKW7506

Place: Mumbai

Date: May 28, 2024

---

Mar 31, 2014

1. We have audited the attached Balance Sheet of VINADITYA TRADING COMPANY LIMITED as at 31st March, 2014, the Statement of Profit and Loss and also the Cash Flow Statement of the Company for the year ended on that date. 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 assurances about whether the financial statements are free of material misstatements. 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 as amended by the Companies (Auditor''s Report) (Amendment) Order, 2004 (hereinafter referred to as ''the Order'') issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to above, 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 accounts as required by law, have been kept by the company so far as appears from our examination of the books.

c) The Balance Sheet, Statement of 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, Statement of Profit and Loss Account and the Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Section (3C) of Section 211 of the Companies Act, 1956.

e) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with the notes thereon, 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 at 31st March, 2014;

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

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

5. On the basis of the written representations received from the Directors as on March 31, 2014, and taken on record by the Board of Directors, we report that 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.

ANNEXURE TO THE AUDITORS'' REPORT Referred to in paragraph 3 of our report of even date on the accounts for the year ended 31st March, 2014 of VINADITYA TRADING COMPANY LIMITED

On the basis of such checks as we considered appropriate and in terms of information and explanations provided to us we state that:

1. (a) The Company does not have any fixed assets and therefore sub clause (b) & (c) is not applicable to the company.

2.

a) The inventory of shares has been physically verified by the management at the end of the year.

b) In our opinion and according to the Information and explanations given to us, the procedure of physical verification of inventory (shares) followed by the management is reasonable and adequate in relation to the size of the company and the nature of its business.

c) The company is maintaining proper record of inventory. There were no discrepancy between physical stock and book records.

3. (a) The company has neither granted nor taken during the year any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under Section 301 of the Act and accordingly, paragraphs 4 (iii) (b) (c) and (d) of the Order 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 with regard to purchase of shares, mutual funds etc. During the course of audit, no major weakness has been notices in the internal controls.

5. a) In our opinion and according to the information and explanations provided by the company, we are of the opinion that the company has not entered into any transactions that need to be entered into the register maintained u/s 301 of the Companies Act 1956.

(b) In our opinion and according to the information and explanations, the company has not made any transactions pursuant to contract or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 for the value exceeding Rs. 5 Lacs in respect of any party during the year.

6. In our opinion and according to the information and explanations provided by the company, the Company has not accepted any deposits from Public and therefore the provisions of Sec. 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules 1975 are not applicable.

7. In our opinion and according to the information and explanations given to us, the provision relating to the internal audit is not applicable to the Company.

8. The Central Government has not prescribed maintenance of cost records by the company under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

9. a) According to the information and explanations provided by the company, the company has been generally regular in depositing with appropriate authorities, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income Tax, Wealth Tax, Custom Duty, Cess ,Service Tax and any other statutory dues applicable to it and no undisputed amount payable in respect of Income tax, Wealth tax, Sales tax, Customs Duty, Excise duty and Cess were in arrears , as at 31st March, 2014 for a period of more than six months from the date they became payable.

(b) In our opinion and according to the information and explanations provided by the company, there are no dues outstanding in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, Excise Duty, and Cess which have not been deposited on account of any dispute.

10. The company has no accumulated losses as at 31st March 2014 and the company has not incurred cash loss in the financial year covered by our audit and in the preceding financial year.

11. In our opinion and according to the information and explanations given to us, the company has not taken any loan from Bank or financial institution and has not issued debentures till date. Therefore, the question of defaulting in repayment does not arise.

12. According to the information and explanations given to us, the company has not granted any loans or 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 company is not a chit fund or a nidhi / mutual benefit Fund / society. Therefore the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

14. In our opinion and according to the information and explanations given to us, the company has maintained proper records of transactions and contract in respect of trading in shares, debentures and other securities and timely entries have been made therein. The investments are held in the name of the Company.

15. In our opinion and according to the information and explanations given to us, the company has not given any guarantees for loans taken by others from banks or other financial institutions.

16. The Company has not taken any term loan.

17. 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.

18. According to the information and explanations given to us, the company has not allotted any preferential shares to companies, firms or other parties covered in the register maintained u/s 301 of the Companies Act 1956.

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

20. The company has not raised any money by public issue of any securities during the year.

21. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit.



For S A R A & ASSOCIATES CHARTERED ACCOUNTANTS Firm Reg. No. 120927W

Govind Gopal Sharma (PARTNER) M.No. 132454

Place : Mumbai Date : 28 May 2014

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Mar 31, 2012

1 We have audited the attached Balance Sheet of Vinaditya Trading Company Limited as at 31st March 2012 and the Profit & Loss Account for the year ended on that date annexed thereto.

2 We conducted our audit in accordance with the auditing standards generally accepted in India Those standards required that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion

3 As required by the Companies (Auditors' Report) Order 2003 as amended by the Companies (Auditors' Report) (Amendment) Order 2004 (hereinafter referred to as "the Order") issued bv the Central Government of India in terms of Section 227 (4A) ot the Companies Act, "l956, we enclose in the Annexure, a statement on the matters specified in paragraphs 4 and 5 of the said Order.

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

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

ii) In our opinion, the Company has kept proper books of account as required by law so far as appears from our examination of the books

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

iv) In our opinion, the Balance Sheet, the Profit & Loss Account and the Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Section (3C) of Section 211 of the Companies Act,

v) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with notes thereon give the fnlnSion fequired by the Companies Act, 1956, m 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 2012. and

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

(c) the case of the Cash Flow Statement, of the Cash Flow for the year ended on that date;

5 On the basis of written representations received from the Directors or 31st March 2012 and taken on record by the Board of Directors, we report that none of the Diritors i disqualified as on 31st March 2012 from being appointed as * Director in 2SRs.5a2Sof Sub-Section (1) of Section 274 of the Companies Act, 1956.

Annexure to the Auditors' Report

Referred to in Paragraph 3 of our report of even date on the accounts of Vinaditya Trading Company Limited for the year ended 31st March 2012.

1. The Company does not own any Fixed Assets.

2. The Clauses (i), (ii), (iii), (iv), (v), (vi), (xii), (xiii), (xv), (xvi), (xvii), (xviii), (xix), (xx) and (xxi) are not applicable to the Company during the year.

3. The Company has not taken loans; secured or unsecured from Companies, Firms or other Parties listed in the Register maintained under Section 301 of the Companies Act, 1956.

4. The Company has granted loans and advances in the nature of the loans to a Company and the same is interest- and mere are no stipulations as to its repayment.

5. 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.

6. The Company has not purchased during the year Stores, Raw Materials and Finished Goods exceeding Rs. 5 lacs in value from the firm or companies or other parties in which me Directors are interested.

7. The Company's Paid-up Capital is less than Rs.50 lacs and the Turnover is less tfian Rs.5 crores as envisaged in Clause (xv) of me Order under Report, me provisions as regards to Internal Audit are not attracted.

8. The Central Government has not prescribed maintenance of cost records under Section 209(lXd) of the Companies Act, 1956.

9. There was no employee during the year entitled to Provident Fund or ESIS.

10. According to the information given to us, mere are no disputed amounts payable in respect of Income Tax, Sales Tax, Wealth Tax, Customs Duty and Excise Duty and remaining outstanding on die last day of me Financial Year.

11. The investments in Shares and Units of Mutual Funds have been properly recorded.

Membership No.14613

Mumbai, Dated 07th September, 2012

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Mar 31, 2010

1. We have audited the attached Balance Sheet of Vinaditya Trading Company Limited as at 31st March 2010 and the Profit & Loss Account for the year ended on that date annexed thereto.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards required that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors Report) Order 2003 as amended by the Companies (Auditors Report) (Amendment) Order 2004 (hereinafter referred to as "the Order") issued by the Central Government of India in terms of Section 227(4 A) of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraphs 4 and 5 of the said Order.

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

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

ii) In our opinion, the Company has kept proper books of account as required by law so far as appears from our examination of the books.

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

iv) In our opinion, the Balance Sheet, the Profit & Loss Account and the Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Section (3C) of Section 211 of the Companies Act, 1956

v) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read with notes thereon 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 31st March 2010; and

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

(c) in the case of the Cash Flow Statement, of the Cash Flow for the year ended on that date;

5. On the basis of written representations received from the Directors as on 31st March 2010 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2010 from being appointed as a Director in terms of Clause (g) of Sub-Section (1) of Section 274 of the Companies Act, 1956.



Annexure to the Auditors Report



Referred to in Paragraph 3 of our report of even date on the accounts of Vinaditya Trading Company Limited for the year ended 31st March 2010.

1. The Company does not own any Fixed Assets.

2. The Clauses (i), (ii), (iii), (iv), (v), (vi), (xii), (xiii), (xv), (xvi), (xvii), (xviii), (xix), (xx) and (xxi) are not applicable to the Company during the year.

3. The Company has not taken loans; secured or unsecured from Companies, Firms or other Parties listed in the Register maintained under Section 301 of the Companies Act, 1956.

4. The Company has granted loans and advances in the nature of the loans to a Company and the same is interest-free and there are no stipulations as to its repayment.

5. 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.

6. The Company has not purchased during the year Stores, Raw Materials and Finished Goods exceeding Rs. 5 lacs in value from the firm or companies or other parties in which the Directors are interested.

7. The Companys Paid-up Capital is less than Rs.50 lacs and the Turnover is less than Rs.5 crores as envisaged in Clause (xv) of the Order under Report, the provisions as regards to Internal Audit are not attracted.

8. The Central Government has not prescribed maintenance of cost records under Section 209(l)(d) of the Companies Act, 1956.

9. There was no employee during the year entitled to Provident Fund or ESIS.

10. According to the information given to us, there are no disputed amounts payable in respect of Income Tax, Sales Tax, Wealth Tax, Customs Duty and Excise Duty and remaining outstanding on the last day of the Financial Year.

11. The investments in Shares and Units of Mutual Funds have been properly recorded.

For K.D. VYAS & Cog)

Chartered Accountants

(K.D.MAS)

Propiietor

Membership No.14613

Mumbai, Dated 30th May, 2010