Auditor Report of JMJ Fintech Ltd.

Mar 31, 2024

We have audited the financial statements of M/s. JMJ Fintech Limited (“the Company”), which comprise the Balance Sheet as at 31 March 2024, and the Statement of Profit and Loss, the Statement of Changes in Equity and Cash Flow Statement for the year ended on that date, and notes to the standalone financial statements, including a summary of 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, of the state of affairs of the Company as at 31 March, 2024 and profit for the year ended on that date.

Basis for opinion

We conducted our audit in accordance with the standards on auditing 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 the code of ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the code of ethics.

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

Key audit matters

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.

Information other than the financial statements and auditors’ report thereon

The Company’s board of directors is responsible for the preparation of the other information. The other information comprises the information included in the Board’s Report including Annexures to Board’s Report, Business Responsibility Report 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 standalone financial statements or our knowledge obtained during the course of our 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 for the Financial Statements

The Company’s board of directors are responsible for the matters stated in section 134 (5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the accounting standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions ot the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ens^jg^ the accuracy and completeness of the accounting

records, relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the entity’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 management either intends to liquidate the entity or to cease operations, or has no realistic alternative but to do so.

Auditors’ Responsibilities for the Audit of the Financial Statements

a) 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.

b) Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with auditing standards will always detect a material misstatement when it exists.

c) Misstatements can arise from fraud or error and are considered material if, individually or in the ^agg^reg^at^e» 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 auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit. And 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, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.

• 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 Entity’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 Entity 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.

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 identity 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 of 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

As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the ''Annexure A’ statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

As required by Section 143(3) of the Act, we report that:

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

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

(c) The balance sheet, the 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 aforesaid financial statements 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 the written representations received from the directors as on March 31, 2024 taken on record by the board of directors, none of the directors is disqualified as on March 31, 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 over financial reporting of the company with reference to the financial statements and the operating effectiveness of such controls, refer to our separate report in “Annexure B” to this report.; and

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

i

ii I ho ( ompain did not lia''.e anv long-term contracts including derivative contracts lor which there were any material foreseeable losses; and

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company

iv. (a) The Managements has represented that, to the best it’s knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or anv other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (‘''Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(b) The Managements has represented that, to the best it’s knowledge and belief, no funds have been received by the Company from any person(s) or entity(ies), including foreign entities (“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, that has been considered reasonable and appropriate in the circumstances, performed by us of the company which is incorporated in India whose financial statements have been audited under the Act, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e) contain any material misstatement.

v. The Company has not declared or paid any dividend during the year.

vi. Based on our examination carried out in accordance with the Implementation Guidance on Reporting on Audit Trail under Rule 11(g) of the Companies (Audit and Auditors) Rules,2014 (Revised 2024 Edition) issued by the Institute of Chartered Accountants of India, the Company is using the accounting software for maintaining its books of account which is having the requisite feature of recording the audit trail (edit log) facility throughout the year for all the relevant transactions recorded in the said accounting software.

For Mahesh C Solanki & Co

Chartered Accountants

FRNo.006228C

Sd/-

CA Vinay Kumar Jain

Memb No. 232058

Partner

UDIN: 24232058BKCZSL2794

Place: Chennai

Date:23-05-2024

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Mar 31, 2016

To the members of M/s. Meenakshi Enterprises Limited Report on the Financial Statements

We have audited the accompanying financial statements of M/s. Meenakshi Enterprises Limited ("the Company"), which comprise the Balance Sheet as at 31^st March, 2016, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

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 flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s 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, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

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

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

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

Opinion

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 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 31^st March, 2016, and its loss and its 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, 2016 ("the Order"), as amended, 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.

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

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

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

(c) The Balance Sheet, the 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 statements 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 the written representations received from the directors as on 31st March, 2016, taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 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 other 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 Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

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

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

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

Referred to in paragraph 1 under the heading ''Report on Other Legal & Regulatory Requirement'' of our report of even date to the financial statements of the Company for the year ended March 31, 2016:

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

(b) The Fixed Assets have been physically verified by the management in a phased manner, at regular intervals, which in our opinion, is reasonable having regard to the size of the company and nature of its business and no material discrepancies between the books records and the physical fixed assets have been noticed.

(c) The company does not hold any immovable properties and hence clause (c) is not applicable.

2) The Company is holding stock of shares and securities and hence no physical verification is required for such stock items.

3) 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 Act. Accordingly, the provisions of clause 3 (iii) (a) to (c) of the Order are not applicable to the Company and hence not commented upon.

4) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 185 and I86 of the Companies Act, 2013 in respect of loans, investments, guarantees, and security.

5) The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the deposits accepted from the public are not applicable.

6) As informed to us, the maintenance of Cost Records has not been specified by the Central Government under sub-section (1) of Section 148 of the Act, in respect of the activities carried on by the company.

7) a) According to information and explanations given to us and on the basis of our examination of the books of account, and records, the Company has been generally regular in depositing 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. According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears as at March 31, 2016 for a period of more than six months from the date on when they become payable.

b) According to the information and explanation given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax outstanding on account of any dispute.

8) In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks. The Company has not taken any loan either from financial institutions or from the government and has not issued any debentures.

9) Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised moneys by way of initial public offer or further public offer including debt instruments and term Loans. Accordingly, the provisions of clause 3 (ix) of the Order are not applicable to the Company and hence not commented upon.

10) Based upon the audit procedures performed and the information and explanations given by the management, we report that no fraud by the Company or on the company by its officers or employees has been noticed or reported during the year.

11) Based upon the audit procedures performed and the information and explanations given by the management, the 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;

12) In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause 4 (xii) of the Order are not applicable to the Company.

13) In our opinion, all transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 and the details have been disclosed in the Financial Statements as required by the applicable accounting standards.

14) Based upon the audit procedures performed and the information and explanations given by the management, the company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review. Accordingly, the provisions of clause 3 (xiv) of the Order are not applicable to the Company and hence not commented upon.

15) Based upon the audit procedures performed and the information and explanations given by the management, the company has not entered into any non-cash transactions with directors or persons connected with him. Accordingly, the provisions of clause 3 (xv) of the Order are not applicable to the Company and hence not commented upon.

16) In our opinion, the company is not required to be registered under section 45 IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3 (xvi) of the Order are not applicable to the Company and hence not commented upon.

For VIVEKANANDAN ASSOCIATES

Chartered Accountants

(Firm Regn. No. 05268 S)

Sd/-

N.SURAMANIAN

Partner

Membership No. 021628

Place : Chennai

Date : 30.05.2016

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Mar 31, 2015

We have audited the accompanying financial statements of MEENAKSHI ENTERPRISES LIMITED ('the Company"), which comprises the Balance Sheet as at March 31, 2015 and the Statement of Profit & Loss and the Cash flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors 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 Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes design, implementation and maintenance of internal control relevant to the preparation 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 my audit. We have conducted our audit in accordance with Standards on Auditing issued by the Institute of Chartered Accountants of India. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgments, including the assessment of the risks of material misstatements 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 Company's internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

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 Act 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, 2015, and

ii) in the case of the Statement of the Profit & Loss, of the profit for the year ended on that date, and

iii) in 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 2015 ('the Order") issued by the Central Government of India in terms of Section 143(11) of the Companies Act,2013 we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

2. As required by Section 143(2) of the Act, we report that

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

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

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

d) In our opinion, the Balance Sheet the Statement of Profit & Loss dealt with by this report comply with the Accounting Standards referred to in Section 133 of the Act.

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

ANNEXURE TO INDEPENDENT AUDITOR'S REPORT – MARCH 31, 2015

Re: MEENAKSHI ENTERPRISES LIMITED

(Referred to paragraph 1 under 'Report on Other Legal and Regulatory Requirements' section of my report of even date)

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

(b) According to the information and explanations given to us, fixed assets have been physically verified by the management at reasonable intervals. According to the information and explanations given to us, no material discrepancies were noticed on such verification and the same have been properly dealt with in the books of account;

2. (a) According to the information given to us and explanations provided, the Physical verification of inventory has been conducted during the year at reasonable intervals by the management.

(b) The procedures followed by the management for physical verification of inventory are reasonable and adequate in relation to the size of the company and the nature of its business.

(c) The company is maintaining proper records of inventory and there is no material discrepancy noticed on physical verification and the same have been properly dealt within the books of account;

3. According to the information given to me and explanations provided, the company had 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. 2013 during the year.

4. According to the information given to us and explanations provided, 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.

5. According to the information given to us and explanations provided, the company has not accepted deposit from public to which the directives issued by the Reserve Bank of India and the provisions of section 73 to section 76 or any other relevant provisions of the Act and the rules framed thereunder apply.

6. According to the information given to us and explanations provided, the Central Government has not prescribed the maintenance of cost records under sub-section (1) of section 148 of the Companies Act for the services rendered by the company.

7. (a) According to the information given to us and explanations provided, the company is regular in depositing 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 or other statutory dues with appropriate authorities.

(b) There is no undisputed amounts payable in respect of income tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess that have not been deposited on account of any dispute.

(c) According to the information given to us and explanations provided, there are no amounts required to be transferred to investor education and protection fund during the year in accordance with the relevant provisions of the Companies Act, 2013) and rules framed thereunder.

8. In our opinion and according to the information given to us and explanations provided, the accumulated losses at the end of the financial year is not more than fifty percent of its net worth of the company. The Company has not incurred cash loss during the current financial year as well as in the immediately preceding financial year.

9. In our opinion and according to the information given to us and explanations provided, the company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.

10. In our opinion and according to the information given to us and explanations provided, the company has not given any guarantee for loans taken by others from bank or financial institutions.

11. In our opinion and according to the information given to us and explanations provided, the Company had not availed any term loan during the year from any bank/ financial institution.

12. To the best of our knowledge and belief and according to the information given to us and explanations provided no material fraud on or by the company has been noticed or reported during the year.

For Vivekanandan Associates

Chartered Accountants

(Firm Regn. No.05268S)

Sd/-

N. Subramanian

Place: Chennai Partner

Date: 30th May, 2015 Membership No.021628

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Mar 31, 2014

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

Management's Responsibility for the Financial Statements

The Company's Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956 ('the Act") read with the General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation 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 my audit. We have conducted my audit in accordance with 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 of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgments, including the assessment of the risks of material misstatements 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 Company's internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

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

(ii) in the case of the Statement of the Profit & Loss, of the profit for the year ended on that date.

(iii) 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 Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

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

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

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

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

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

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

1. Having regard to the nature of the Company's business/activities/ results, during the year, clauses (viii) and (xiii) of paragraph 4 of the Order are not applicable to the Company.

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

(b) All the assets have been physically verified by the management during the year in accordance with a program of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) The company has not sold/disposed off any of the fixed assets during the year and therefore, do not affect the going concern assumption during the year

3. (a) The inventory of share certificates have been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(c) On the basis of our examination of the records of inventory, we are of the opinion that the company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material.

4. In respect of loans granted:

(a) The company has not granted any loans to parties covered in the register maintained under section 301 of the Companies Act, 1956.

(b) The company has not taken any loans from parties covered in the register maintained under section 301 of the Companies Act, 1956.In our opinion no interest has been paid on such loans taken from parties listed in the registers maintained under section 301 and the same are not, prima facie, prejudicial to the interest of the company.

(c) There are no terms and conditions or period specified with regard to repayment of loans taken or the interest to be charged on the loans and we are unable to express an opinion on the repayment of loans taken.

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 nature of its business with regard to purchases of fixed assets and with regard to granting of loans. During the course of our audit, no major weakness has been noticed in the internal control systems.

6. In respect of transactions entered in the register maintained in pursuance of Section 301 of the Act:

a) According to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of the Act that needed to be entered into the register have been so entered;

b) According to the information and explanations given to us, there were no transactions during the year with parties covered in the Section 301 of the Act.

7. In our opinion and according to the information and explanations given to us, the company has not accepted any deposits from public during the year as per the provisions of sections 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

8. Based on our audit procedures and in accordance with the information and explanations given by the management, the company has an internal audit system in place commensurate with the size of the company and nature of its operations.

9. Statutory and other dues

(a) According to the information and explanations given to us and on the basis of our examination of the records of the company, amounts deducted/accrued in the books of account in respect of undisputed statutory dues including income tax and other material statutory dues have been generally regularly deposited during the year by the company with the appropriate authorities. As explained to us, the Company did not have any dues on account of sales tax, wealth tax, customs duty, excise duty, cess, investor education and protection fund and employees state insurance, to the extent applicable, as at March 31, 2014.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax and other material statutory dues were in arrears as at March 31, 2014 for a period of more than six months from the date they became payable.

(c) According to the information explanations given to us, there are no dues of sale tax, income tax, customs duty, wealth tax, excise duty / cess which have not been deposited on account of any dispute.

10. The accumulated losses at the end of the year had not exceeded more than 50% of the net worth of the company at the end of the financial year. The company has not incurred cash losses during the current financial year as well as in the year immediately preceding financial year.

11. According to the information and explanations given by the management, we are of the opinion that the company has not borrowed any money from banks and hence there is no question of their repayment/default in repayment of dues arises during the year. The company does not have any debenture holders.

12. According to the information and explanations given to us and based on our examination of the documents and records, we am of the opinion that no loans or advances have been granted by the company on the basis of security by way of pledge of shares, debentures and other securities.

13. In respect of transactions relating to dealing or trading in shares, securities, debentures and other investment, the company maintained proper records of the transaction and contracts and timely entries have been made therein; the shares, securities, debentures and other securities have been held by the company, in its own name.

14. The company has not given any guarantee for loans taken by others from bank or financial institutions.

15. In our opinion, the company had not availed any term loans during the year and hence their application for the purpose for which they were raised does not arise.

16. (i) The Company is classified as a non-deposit taking NBFC in terms of the registration granted by the Reserve Bank of India. In our opinion the company had not accepted any deposits from public during the year.

(ii) Based on our audit procedures, the company has complied with the prudential norms on income recognition and provisioning against sub-standard/default/loss assets.

(iii) The repayment schedule of loans fixed by the company is based on the repayment capacity of the borrowers and would be conducive to recovery of loans, but most of the borrowers are conforming to the repayment schedule fixed by the company.

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 the no funds raised on short-term basis have been used for long-term investment. No long-term funds have been used to finance short-term assets except permanent working capital.

18. The company has made any preferential allotment of shares including parties and companies covered in the register maintained under section 301 of the Act and the same are not prejudicial to the interest of the company or its members.

19. The company had not issued any debentures in the current year.

20. The company had not raised any money through public issues during the year.

21. According to the information and explanations given to us and based on the documents and records of the company verified by us, no fraud on or by the company was noticed or reported during the course of our audit.

For VIVEKANANDAN ASSOCIATES

Chartered Accountants

(Firm Regn. No. 05268S)

Sd/-

N.SUBRAMANIAN

Place : Chennai Partner

Date : 20 May, 2014 Membership No. 21628

---

Mar 31, 2012

We report that I have audited the Balance Sheet of M/s. MEENAKSHI ENTERPRISES LIMITED, CHENNAI, as at March 31, 2012 and the relative Profit and Loss Account and the Cash Flow statements for the year ended on that date all of which we have signed under reference to this report. 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 have conducted our audit in accordance with the auditing statement 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 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.

III. As required by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India in terms of Sub-Section (4A) of Section 227 of the Companies Act, 1956, we furnish below a statement on the matters specified in paragraph 4 & 5 of the said Order.

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

(b) All the assets have been physically verified by the management during the year in accordance with a program of verification which, in my opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) The company has not sold/disposed off any of the fixed assets during the year,

2. The operation of the company is granting of loans/financing under hire purchase as well as investment in shares and securities which do not generate any inventory and hence their verification is not applicable.

3. In respect of loans granted:

(a) The company has not granted any loans to parties covered in the register maintained under section 301 of the Companies Act, 1956.

(b) The company had taken loan from 5 parties covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs.9,91,911/- and year- end balance of loans taken from such parties was Rs.9,91,911/-.

(c) In our opinion no interest has been paid on such loans taken from parties listed in the registers maintained under section 301 and the same are not, prima facie, prejudicial to the interest of the company.

(c) There are no terms and conditions or period specified with regard to repayment of loans taken or the interest to be charged on the loans and we are unable to express an opinion on the repayment of loans taken.

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 nature of its business with regard to purchases of fixed assets and with regard to granting of loans. During the course of our audit, no major weakness has been noticed in the internal controls.

5. In respect of transactions entered in the register maintained in pursuance of Section 301 of the Act:

a) According to the information and explanations given to us, the particulars of contracts or arrangements referred to in Section 301 of the Act that needed to be entered into the register have been so entered;

b) According to the information and explanations given to us, except taking of loans, there were no transactions during the year with parties covered in the Section 301 of the Act.

6. In our opinion and according to the information and explanations given to us, the company has not accepted any deposits from public during the year as per the provisions of sections 58A and 58AA of the Companies Act, 1956

7. Based on our audit procedures and in accordance with the information and explanations given by the management, the company has an internal audit system in place commensurate with the size of the company and nature of its operations.

8. We have been informed by the management that no cost records have been prescribed under section 209 (1) (d) of the Companies Act, 1956 in respect of the products of the company.

9. Statutory and other dues

(a) According to the records of the company, no amount is due towards PF, ESI, sale tax, income tax, customs duty, wealth tax, excise duty, Service tax/ cess outstanding as at March 31, 2012 for a period of more than 6 months from the date they became payable.

(b) According to the information and explanations given to us, there are no dues of sale tax, income tax, customs duty, wealth tax, excise duty / cess which have not been deposited on account of any dispute.

10. The accumulated losses at the end of the year had not exceeded more than 50% of the net worth of the company at the end of the financial year. The company has incurred cash losses during the current financial year as well as in the year immediately preceding the current financial year.

11. According to the information and explanations given by the management, we are of the opinion that the company has not borrowed any money from banks and hence there is no question of their repayment/default in repayment of dues arises during the year. The company does not have any debenture holders.

12. According to the information and explanations given to us and based on our examination of the documents and records, we am of the opinion that no loans or advances have been granted by the company on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion, the company is not a chit fund or nidhi/mutual benefit fund/ society. Therefore, provisions of clause (xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

14. In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause (xiv) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

15. According to the information and explanations given to us and based on our examination of the documents and records, we are of the opinion that the company has not given any guarantee for loans taken by others from bank or financial institutions.

16. In our opinion, the company had not availed any term loans during the year and hence their application for the purpose for which they were raised does not arise.

17. (i) The Company is classified as a non-deposit taking NBFC in terms of the registration granted by the Reserve Bank of India. In my opinion the company had not accepted any deposits from public during the year.

(ii) Based on my audit procedures, the company has complied with the prudential norms on income recognition and provisioning against sub-standard/default/loss assets.

(iii) The repayment schedule of loans fixed by the company is based on the repayment capacity of the borrowers and would be conducive to recovery of loans, but most of the borrowers are conforming to the repayment schedule fixed by the company.

18. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the no funds raised on short-term basis have been used for long-term investment. No long-term funds have been used to finance short-term assets except permanent working capital.

19. 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 and the same are not prejudicial to the interest of the company or its members.

20. The company had not issued any debentures in the current year.

21. The company had not raised any money through public issues during the year.

22. According to the information and explanations given to us and based on the documents and records of the company verified by us, no fraud on or by the company was noticed or reported during the course of our audit. IV. 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 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 the Profit and Loss Account dealt with by this report are in agreement with the books of account.

d) In our opinion, the balance sheet and the profit and loss account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

e) On the basis of written representation received from the Directors as on 31st March, 2012 and taken on record by the Board of Directors, I report that none of the Director is disqualified as on 31st March 2012 from being appointed as a director in terms of clause (g) 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 give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) In the case of Balance Sheet of the State of Affairs of the Company as at March 31, 2012;

ii) In the case of the profit and loss account, of the profit for the year ended on that date;

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

For VIVEKANAN DAN ASSOCIATES

Chartered Accountants

(Firm Regn. No. 05268 S)

N.SUBRAMANIAN

Place: Chennai Partner

Date: 30.05.2012 Membership Number: 21628

---

Mar 31, 2011

We have audited the attached Balance Sheet of M/s MEENAKSHI ENTERPRISES LIMITED as at 31st March 2011 and the Profit & Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility is to express an opinion on these financial statements based on our audit management

We have conducted our audit in accordance with the auditing standards generally accepted in India Those standards require that we plan and perform the audit to obtain reasonable 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 statement An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall presentation of the financial statements we believe that our audit provides a reasonable basis for our opinion.

As required by the Companies (Auditor's Report) Order 2003 fans (as amended) issued in terms of section 227(4A) of the companies Act, 1956 we report on the matters specified in paragraphs 4 & 5 of the said order to the extent applicable to the company for the year under audit:

(i) {a) The Company has maintained proper records showing full particulars Entire En quantitative details and situation of Fixed Assets.

(b) The Fixed Assets have been Physically verified by the management at reasonable intervals during the year and no material discrepancies were reported to have been noticed on such verification.


(ii) (a) The stock on hire and stock of securities have been physically verified during the year by the management and the frequency of verification in our opinion is reasonable having regard to the size of the Company and the nature of its stock.

(b) in our opinion and according to the information and explanation give to us the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and nature of its business.

(c) The Company is maintaining proper records of inventory. There is no discrepancy - between the Physical Stock and Book Record.

(iii) (a) According to the information and explanations given to us, the Company has not granted any loan secured or unsecured to any firm, Company or parties covered in the Register maintained u/s 30 of the Companies Act, 1956 during the year. In view of the above the requirements of clause (b), (c) and (d) of the Order can be taken as Nil. Attention is

We have audited the attached Balance Sheet of M/s MEENAKSHI ENTERPRISES LIMITED as at 31st March 2011 and the Profit & Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility is to express an opinion on these financial statements based on our audit management.

We have conducted our audit in accordance with the auditing standards generally accepted in India Those standards require that we plan and perform the audit to obtain reasonable assurance about whether financial statements are free of material misstatement. An audit includes exam Kg 6n a test basis evidence supporting the amounts and disclosures in the financial statement assessing the accounting principles used and significant of the financial: statements we believe that our audit provides a reasonable basis for our opinion.

As required by the Companies (Auditor's Report) Order 2003 (as amended) issued in terms of section 227(4A) of the companies Act, 1956 we report on the matters specified in paragraphs 4 and 5 of the said order to the extent applicable to the company for the year under audit:

(i) {a) The Company has maintained proper records showing full particulars Entire En quantitative details and situation of Fixed Assets.

(b) The Fixed Assets have been Physically verified by the management at reasonable intervals during the year and no material discrepancies were reported to have been noticed on such verification.


(ii) (a) The stock on hire and stock of securities have been physically verified during the year by the management and the frequency of verification in our opinion is reasonable having regard to the size of the Company and the nature of its stock.

(b) in our opinion and according to the information and explanation give to us the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and nature of its business.

(c) The Company is maintaining proper records of inventory. There is no discrepancy - between the Physical Stock and Book Record.

(iii) (a) According to the information and explanations given to us, the Company has not granted any loan secured or unsecured to any firm, Company or parties covered in the Register maintained u/s 30 of the Companies Act, 1956 during the year. In view of the above the requirements of clause (b), (c) and (d) of the Order can be taken as Nil. Attention is

(xiv) According to the information and explanations given to us, the company is maintaining proper records to records transactions and contracts entries to record the transaction and contracts are made in time. Shares and Debentures held by the company as stock in trade are held in its own name.

(XV) In our opinion and according to the information and according to the information and explanations given to us, the any guarantee for loans taken by others from Bank or-Financial the terms and" conditions whereof are prejudicial to the interest of the Company.

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

(Xvii) According to the information and explanations given to us and on overall examination of the balance sheet of the company we report that the company has used no funds raised on short-term basis for long term investment.

(xiii) The company has not made any preferential allotment of shares during the year to parties and companies covered in the Register maintained under section 301 of the companies Act, 1956.

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

(xx) The Company has not raised any money by way of Public Issue during the year.

(xxi) Based on the audit procedures performed and information and explanations given to us we report that no fraud on or by Company has been noticed or reported during the course of our audit.

Other clauses of Paragraph 4 of the Companies (Auditor's Report) Order, 2003 (as amended are not applicable to the company for the year under consideration and can be taken as Nil.

Further to our comments above, we state that:

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

b. in our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books produced before us.

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

d. In our opinion subject to the Note No:7 and other notes on accounting policies given in schedule G, the Balance Sheet and Profit and Loss Account dealt with by basis report comply with the applicable according 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 2011 from taken old by the Board of Directors, we report that none of the directors is discuses as on 31st March 2011 from being appointed as a 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, subject to the Notes given in Schedule G mainly Note No.5 relating to non-valuation of the repossessed asset which is not ascertainable and Note No:7 relating to non provision of interest on HP Loans and also on Loans and Advances which are sticky in nature they said Balance Sheet Profit and Loss Account and the Cash Flow Statement read together with and subject to 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 3t5t March, 2011 and

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

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

For CHATURVED & CO.,

Chartered Accountants

Firm Registration No. 302137E

PLACE: CHENNAI

DATE: 01.06.2011

MR.Rajagopalakrishnan)

Partner. (MNR: 18933)