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Auditor Report of Secunderabad Healthcare Ltd.

Mar 31, 2015

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

Management''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 Companies (Accounts) Rules, 2014. This responsibility 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; design, implementation and maintenance of adequate internal financial controls, that are 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 disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements inorder to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion:

In our opinion and to the best of our information and according to the explanations given to us, the 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 31st March 2015, 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, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure a statement on the matters Specified in paragraphs 3 and 4 of the Order.

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

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

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

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

d) In our opinion, the aforesaid financial statements comply with the applicable Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules 2014.

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

f) With respect to 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 has disclosed the impact of pending litigations as at March 31,2015 on its financial position in its notes to financial statements.

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

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

Annexure referred to in paragraph 1 of Our Report of even date to the members of SECUNDERABAD HEALTHCARE LIMITED on the accounts of the company for the year ended 31st March, 2015 Under "Report on other Legal & Regulatory Requirements"

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

I. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

II. (a) The Inventory has been physically verified during the year and in our opinion, the frequency of verifications is reasonable.

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

(c) The Company is maintaining proper records of inventory and as explained to us, there was no material discrepancies noticed on such verification of stocks as compared to book records.

III. The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s.189 of the Companies Act, 2013.

IV. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business, for the purchase of goods and fixed assets and for the sale of goods and services. Further, on the basis of our examination of the books and records of the Company and according to the information and explanations given to us, no major weakness has been noticed or reported.

V. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013.

VI. In respect of the Company, the Central Government has not prescribed maintenance of cost records under sub-section (1) of Section 148 of the Companies Act, 2013.

VII. a) The Company is regular in depositing statutory dues including Income Tax, Sales Tax and other statutory dues with the appropriate authorities and at the last date of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

b) According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, Sales Tax and other statutory dues as at the end of the period.

c) There are no amounts that are due to be transferred to the Investors Education and protection Fund in accordance with the relevant provisions of the Companies Act, 1956 and rules made there under.

VIII. The Company has been registered for a period of not less than 5 years, and the company has no accumulated losses at the end of the financial year and the company has not incurred cash losses in this financial year and immediately preceding financial year.

IX. In our opinion, and according to the information and explanations given to us, the company has not defaulted in repayment of dues to financial institution/banks. The company has not issued any debentures.

X. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loan taken by others from banks or financial institutions.

XI. In our opinion and according to the information and explanations given to us, the Company has not taken any term loans during the relevant financial year.

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

For D.P.AGARWAL & CO., Chartered Accountants Firm''s Registration Number: 1100068W

D.P.AGARWAL Place : Hyderabad Partner Date : 30-05-2015 Membership Number: 35500

Mar 31, 2014

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

Management''s Responsibility for the Financial Statements:

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act") read with the General Circular 8/2014 dated 4th April 2014 issued by the Ministry of Corporate Affairs. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility:

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion:

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

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

(b) In the case of the Profit and Loss Account, of the profit for the year ended on that date; and * In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements:

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

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

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

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

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

d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

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

ANNEXURE TO THE AUDITORS'' REPORT

I. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

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

II. (a) The Inventory has been physically verified during the year and in our opinion, the frequency of verifications is reasonable.

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

(c) The Company is maintaining proper records of inventory and as explained to us, there was no material discrepancies noticed on such verification of stocks as compared to book records.

III. (a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s.301of the Companies Act, 1956.

(b) As the Company has not granted any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s .301 of the Companies Act, 1956, hence overdue amount of more than rupees one lakh does not arise and the clause is not applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies, Firms or other Parties covered in the register maintained U/s.301 ofthe Companies Act. 1956.

(f) As the Company has not taken any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties is not applicable to the company.

IV. In our opinion and according to the information and explanations given to us, there are generally adequate internal control systems commensurate with the size of the company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services. There is no continuing failure by the company to correct any major weaknesses in internal control.

V. (a) In our opinion and according to the information and explanation given to us , since no contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the company in respect of any party in the financial year, the entry in the register U/s.301 of the Companies Act, 1956 does not arise.

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price having regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions of the Act and the rules framed there under does not arise.

VII. In our opinion, the company is not having internal audit system, commensurate with its size and nature of its business.

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX. a) The Company is regular in depositing statutory dues including Income Tax, and other statutory dues with the appropriate authorities and at the last date of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

b) According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, and other statutory dues as at the end of the period.

X. The Company has been registered for a period of not less than 5 years, and the company has no accumulated losses at the end of the financial year and the company has not incurred cash losses in this financial year and immediately preceding financial year.

XI. According to information and explanations given to us, the company has not defaulted in repayment of dues to financial Institutions or Banks.

XII. 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 and hence the applicability of the clause regarding maintenance of adequate documents in respect of loans does not arise.

XIII. This clause is not applicable to this Company as the Company is not covered by the provisions of special statute applicable to Chit Fund in respect of Nidhi / Mutual Benefit Fund/Societies.

XIV. According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order 2003, are not applicable to the Company.

XV. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from Banks or Financial Institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company.

XVI. According to the information and explanations given to us, the Company has not obtained any Term Loans during this Financial Year.

XVII. According to the information and explanations given to us, no funds are raised by the company on short-term basis. Hence the clause of short term funds being used for long-term investment does not arise.

XVIII. According to the information and explanations given to us, the Company has not made any preferential allotment of Shares to parties and Companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does notarise.

XIX. According to the information and explanations given to us, the company does not have any debentures and hence the applicability of the clause regarding the creation of security or charge in respect of debentures issued does notarise.

XX. According to information and explanations given to us, the company has not raised money by way of public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by public issue is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For D.P.AGARWAL & CO., Chartered Accountants Firm''sRegistrationNumber: 1100068W

Sd/- D.P.AGARWAL Partner Membership Number: 35500

Place: Hyderabad Date : 30-05-2014

Mar 31, 2013

Report on the Financial Statements:

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

Management''s Responsibility for the Financial Statements:

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility:

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion:

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

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

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

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

Report on Other Legal and Regulatory Requirements:

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

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

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

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

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

d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 ofthe Companies Act, 1956;

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

ANNEXURE TO THE AUDITORS'' REPORT

I. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

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

II. (a) The Inventory has been physically verified during the year and in our opinion, the frequency of verifications is reasonable.

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

(c) The Company is maintaining proper records of inventory and as explained to us, there was no material discrepancies noticed on such verification of stocks as compared to book records.

III. (a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s.301 ofthe Companies Act, 1956.

(b) As the Company has not granted any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s.301 ofthe Companies Act, 1956 , hence overdue amount ofmore than rupees one lakh does not arise and the clause is not applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies, Firms or other Parties covered in the register maintained U/s.301 ofthe Companies Act. 1956.

(f) As the Company has not taken any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties is not applicable to the company.

IV. In our opinion and according to the information and explanations given to us, there are generally adequate internal control systems commensurate with the size of the company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services. There is no continuing failure by the company to correct any major weaknesses in internal control.

V. (a) In our opinion and according to the information and explanation given to us , since no contracts or arrangements referred to in section 301 ofthe Companies Act, 1956 have been made by the company in respect of any party in the financial year, the entry in the register U/s.301 ofthe Companies Act, 1956 does not arise

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price having regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions ofthe Act and the rules framed there under does not arise.

VII. In our opinion, the company is not having internal audit system, commensurate with its size and nature of its business.

VIII. In respect ofthe Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 ofthe Companies Act,1956

IX. a) The Company is regular in depositing statutory dues including Income Tax, and other statutory dues with the appropriate authorities and at the last date of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

b) According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, and other statutory dues as at the end ofthe period.

X. The Company has been registered for a period of not less than 5 years, and the company has no accumulated losses at the end of the financial year and the company has not incurred cash losses in this financial year and immediately preceding financial year.

XI. According to information and explanations given to us, the company has not defaulted in repayment of dues to financial Institutions or Banks.

XII. 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 and hence the applicability of the clause regarding maintenance of adequate documents in respect of loans does not arise.

XIII. This clause is not applicable to this Company as the Company is not covered by the provisions of special statute applicable to Chit Fund in respect of Nidhi/Mutual Benefit Fund/Societies.

XIV. According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order 2003, are not applicable to the Company.

XV. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from Banks or Financial Institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company .

XVI. According to the information and explanations given to us, the Company has not obtained any Term Loans during this Financial Year.

XVII. According to the information and explanations given to us, no funds are raised by the company on short-term basis. Hence the clause of short term funds being used for long- term investment does not arise.

XVIII. According to the information and explanations given to us, the Company has not made any preferential allotment of Shares to parties and Companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest ofthe Company does not arise.

XIX. According to the information and explanations given to us, the company does not have any debentures and hence the applicability of the clause regarding the creation of security or charge in respect of debentures issued does not arise.

XX. According to information and explanations given to us, the company has not raised money by way of public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by public issue is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For D.P.AGARWAL & CO.,

Chartered Accountants

Firm''s Registration Number: 0100068W

D.P.AGARWAL

Partner

Membership Number: 35500

Place : Hyderabad

Date : 30-05-2013

Mar 31, 2012

1. We have audited the attached Balance Sheet of SECUNDERABAD HEALTHCARE LIMITED as at 31st March 2012, the Profit and Loss Account and also the Cash Flow Statement 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 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 statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003 as amended by the Companies (Auditor's Report) (Amendment) order, 2004 (now herein after referred to as the 'Order') issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraphs 4 and 5 of the said Order.

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 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, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account.

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

e) On the basis of written representations received from the directors, as on 31st March 2012, and taken on record by the Board of Directors, we report that

none of the Directors were disqualified as on March 31st, 2012 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, 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 :

1. In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2012.

2. In the case of the Profit and Loss Account of the Profit for the year ended on 31st March 2012.

3. In case of the Cash Flow statement of the Cash Flow for the year ended on 31st March 2012.

ANNEXURE TO THE AUDITORS REPORT

Referred to in paragraph 3 of our report of even date, on the accounts of SECUNDERABAD HEALTHCARE LIMITED for the year ended 31s' March 2012.

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

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

4s explained to us, the Fixed Assets have been physically verified by the Management of the Company at reasonable intervals and no material discrepancies have been noticed between the books records and physical inventory upon such verification.

The Company has not disposed off substantial part of the Fixed Assets during the year,

(iij The Inventory has been physically verified during the year and in our opinion, the frequency of verifications is reasonable.

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

The Company is maintaining proper records of inventory and as explained to us, there were no material discrepancies noticed upon such verification of stocks as compared to the book records.

(Hi) The Company has not granted or taken any loans, secured or unsecured to companies, firms and other parties covered in the registers maintained under section 301 of the Companies Act 1956, therefore, the provisions of clause 4 (3) of the Companies (Auditors Reports) Order 2003 are not applicable to the Company.

(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regard to purchases of inventory and fixed assets and for sale of goods and services. During the course of our audit, no major weakness has been noticed in internal control system.

(v) Based on the Audit procedure applied by us, we are of the opinion that there were no transactions during the year that need to be entered in the Registers maintained under section 301 of the Companies Act 1956.

(vi) The Company has not accepted any deposits from the public within the meaning of , provisions of section 58A, 58AA or any other relevant provisions of the Companies Act 1956, and the Companies (Acceptance of Deposits) rules 1975, therefore, the provisions of clause 4 (vi) of the Companies (Auditors Reports) Order, 2003 are not applicable to the Company.

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

(viii) As explained to us, the Central Government has not prescribed the maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 in respect of the business activities of the Company.

(ix) (a) On the basis of our examination of the records of the Company no undisputed amounts payable in respect of Provident Fund, Investors' Education and Protection Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Custom duty, Excise duty, and Cess were outstanding as at 31st March 2012 for a period of more than 6 months from the date they became payable except Rs.510,000/-.

(b) According to information and explanations given, there were no disputed amounts payable in respect of Income Tax, Sales Tax, Wealth Tax, Custom duty,

Excise duty, cess, which have been outstanding as at 31st March, 2012.

(x) The Company has been registered for a period of not less than 5 years, and the Company has no accumulated losses at the end of the financial year. Also the Company has not incurred cash losses in this financial year and the immediately preceeding financial year.

(xi) According to the information and explanations given to us, the Company has not taken any loans from Banks or financial institutions. Hence the clause of repayment of dues to Financial Institutions or Banks is not applicable to the Company.

(xii) According to the information and explanations furnished to us, we report that the Company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause

4 (xii) of Companies (Auditors Report) order, 2003 are not applicable to the Company.

(xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report)

Order, 2003 are not applicable to the Company.

(xiv) The Company is dealing in or Trading in the Shares, Securities, Debentures or Other Investments and has maintained proper records of the Transactions and Contracts in respect of dealing or Trading in Shares, Securities, Debentures and Other Investments.

Further timely entries in respect of such records are made in the Books.

Also such securities have been held by the Company in its own name or the Company is in a process of transfer of the same in its own name.

(xv) According to the information given to us the Company has not given any guarantee for loan taken by others from Banks or Financial Institution.

(xvi) According to the records of the Company, the Company has not borrowed any Term Loan; hence comment under the clause is not called for.

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

(xviii) According to the information and explanations given to us, the Company has not made preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act.

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

(xx) The Company has not raised funds from Public Issue during the year under audit.

(xxi) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the cause of our audit.

For D.P. AGARWAL & CO. Chartered Accountants FRNo: 1100068W

sd/-

(D.P. Agarwal)

Place : Mumbai, Proprietor

Date : 1st September, 2012 M. No. : 35500

Mar 31, 2011

1. We have audited the attached Balance Sheet of SECUNDERABAD HEALTHCARE LIMITED as at 31st March, 2011 and also the Profit & Loss Account and the Cash Flow Statement for the year ended on the date annexed thereto. These financial statements are the responsibility of the Company's Management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

3. As required by the Companies (Auditor's Report) order 2003 and as amended by the Companies (Auditor's Report Amendment) Order 2004, issued by the Central Government of India in terms of the sub-section(4A) of section 227 of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

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 purposes of our Audit;

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

(iii) The financial statements dealt with by this report are in agreement with the books of account;

(iv) In our opinion, the financial statements dealt with by this report comply with the Ac- counting standards referred to in sub-section (3C) of Section 211 of Companies Act, 1956 ;

(v) On the basis of written representations received from the Directors, as on 31st March, 2011 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March ,2011 from being appointed Director in terms of clause(g) of sub-section(l) of section 274 of the Companies Act, 1956 ;

(vi) In our opinion and to the best of our information and according to the explanations given to us, they said accounts 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, 2011;

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

ANNEXURE TO THE AUDITORS' REPORT

I. (a)The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us , the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

II. (a)The Inventory has been physically verified during the year and in our opinion, the frequency of verifications is reasonable

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

(c ) The Company is maintaining proper records of inventory and as explained to us, there were no material discrepancies noticed on such verification of stocks as compared to book records.

III. (a)The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s.301 of the Companies Act, 1956.

(b) As the Company has not granted any loans ,the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties , is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s.301 of the Companies Act, 1956 , hence overdue amount of more than rupees one lac does not arise and the clause is not applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies, Firms or other Parties covered in the register maintained U/s.301 of the Companies Act, 1956.

(f) As the Company has not taken any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties, is not applicable to the company.

IV. In our opinion and according to the information and explanations given to us, there are generally adequate internal control systems commensurate with the size of the company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services. There is no continuing failure by the company to correct any major weaknesses in internal control.

V. (a)In our opinion and according to the information and explanation given to us, the contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the company in respect of the financial year, are entered in register U/s 301 of the Companies Act, 1956 does not arise.

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price having regards to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A.58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

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

VIII In respect of the Company, the Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956.

IX. a) The Company is regular in depositing undisputed statutory dues including Income Tax, Cess and any other statutory dues with the appropriate authorities and at the last of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

b)According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, Cess and any other statutory dues as at the end of the period, for a period more than six months from the date they became payable.

X. The Company has been registered for a period of not less than 5 years, and the Company has no accumulated losses at the end of the financial year and the company has not incurred cash losses in this financial year and the immediately preceding financial year.

XI. According to information and explanations given to us, the Company has not taken any loans from Banks or Financial Institutions. Hence this clause of repayment of dues to Financial Institutions or Banks or debenture holders and the defaulted payment therein is not applicable to the Company.

XII. 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 and hence the applicability of the clause regarding maintenance of adequate documents in respect of loans does not arise.

XIII. This clause is not applicable to this Company as the Company is not covered by the pro visions of special statute applicable to Chit Fund in respect of Nidhi/Mutual Benefit Fund/ Societies.

XIV According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order 2003, are not applicable to the Company.

XV. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from Banks or Financial Institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the Company has not obtained any Term Loans, hence this clause is not applicable.

XVII. According to the information and explanations given to us, no funds are raised by the Company on short-term basis. Hence the clause of short term funds being used for long-term investment does not arise.

XVIII. According to the information and explanations given to us, the Company has not made any preferential allotment of Shares to parties and Companies covered in the Register maintained under section 301 of the Companies Act, 19S6 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does not arise.

XIX. According to the information and explanations given to us, the company does not have any debentures and hence the applicability of the clause regarding the creation of security or charge in respect of debentures issued does not arise.

XX. According to information and explanations given to us, the company has not raised money by way of public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by Public Issue is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For D.P. Agarwal & Co.

Chartered Accountants

Firm's Registration No: 1100068W

sd/-

(D.P.Agarwal)

Proprietor

Membership No:35500

PLACE : Mumbai

DATE : 28th August,2011

Mar 31, 2010

1. We have audited the attached Balance Sheet of SECUNDERABAD HEALTH CARE LIMITED as at 31st March, 2010 and also the Profit & Loss Account and the Cash Flow Statement for the year ended on the date annexed thereto. These financial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these financial state- ments based on our audit.

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

3. As required by the Companies (Auditors Report) order 2003 and as amended by the Companies (Auditors ReportXAmendment) Order 2004, issued by the Central Government of India in terms of the sub-section(4A) of section 227 of the Companies Act, 1956, we enclose in the annex- ure 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 purposes of our Audit;

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

(iii) The financial statements dealt with by this report are in agreement with the books of account ;

(iv) In our opinion, the financial statements dealt with by this report comply with the Accounting standards referred to in sub-section (3C) of Section 211 of Companies Act, 1956 ;

(v) On the basis of written representations received from the Directors, as on 31 st March ,2010 and taken on record by the Board of Directors, we report that none of the Directors is disquali- fied as on 31st March , 2010 from being appointed Director in terms of clause(g) of sub-section(l) of section 274 of the Companies Act, 1956 ;

(vi) In our opinion and to the best of our information and according to the explanations given to us, 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;

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March , 2010;

(b) In the case of the Profit & Loss Account, of the Profit for the period ended on that date; and c the Cash Flow Statement, of the cash flows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

I. (a)The Company has maintained proper records showing full particulars induing quantitative details and situation of Fixed Assets.

(b)As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification.

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

II. (a)The Inventory has been physically verified during the year and in our opinion, the frequency of verifications is reasonable (b) In our opinion, the procedures of the physical verification of inventory followed by the Management are reasonable and adequate in relation of the size of the Company and the nature of its business. (c)The Company is maintaining proper records of inventory and as explained to us, there were no material discrepancies noticed on such verification of stocks as compared to book records.

III. (a)The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s. 301 of the Companies Act, 1956.

(b)As the Company has not granted any loans ,the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c)As no loans are granted by company, the clause of receipt of interest & principal amount from parties , is not applicable to the company.

(e)The Company has not taken any loans, secured or unsecured from Companies, Firms or other Parties covered in the register maintained U/s.301 of the Companies Act, 1956.

(f)As the Company has not taken any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(g)As no loans are taken by the company, the clause of repayment of interest & principal amount to parties, is not applicable to the company.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A,58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

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

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956.

IX. a) The Company is regular in depositing undisputed statutory dues including Income

Tax, Cess and any other statutory dues with the appropriate authorities and at the last of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

XIII. This clause is not applicable to this Company as the Company is not covered by the pro visions of special statute applicable to Chit Fund in respect of Nidhi/Mutual Benefit Fund/ Societies.

XIV. According to the information and explanations given to us, the company is not dealing

or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditors Report) Order 2003, are not applicable to the Company.

to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the Company has not obtained any Term Loans, hence this clause is not applicable.

XVIII. According to the information and explanations given to us, the Company has not made any preferential allotment of Shares to parties and Companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does not arise.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For P.MURAL1 & CO. CHARTERED ACCOUNTANTS

FRN: 007257S

PLACE : Hyderabad P.MURALI MOHANA RAO

DATE : 12-08-2010 PARTNER

Membership No. 23412

Mar 31, 2009

We have audited the attached Balance Sheet of SECUNDERABAD HEALTHCARE LIMITED as at 31st March, 2009 and also Profit & Loss Account for the year ended on the date annexed thereto and the cash flow statement for the year ended on that date. These financial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

As required by the Companies (Auditors Report) order 2003 and as amended by the Companies (Auditors Report) (Amendment) Order 2004, issued by the Central Government of India in terms of the sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

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, proper books of account as required by law have been kept by company so far as appears from our examination of those books

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

(iv) In our opinion, the Balance Sheet & Profit & Loss Account dealt with by this report comply with the Act counting standards referred to in sub-section (3C) of Section 211 of Companies Act, 1956;

(v) On the basis of written representations received from the Directors, as on 31 st March, 2009 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2009 from being appointed Director in terms of clause (g) of sub-section(i) of section 274 of the Companies Act, 1956;

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31 st March; 2009;

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

And

ANNEXURE TO THE AUDITORS REPORT

I. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

(b) As explained to us, the fixed assets have been physically verified by the management at resonable intervals and no material discrepancies between the book records and the physicial inventory have been noticed on such verification.

II. (a) The inventory has been physically verified during the year and in our opinion, the frequency of verification is reasonable.

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

The Company is maintaining proper records of inventory and as explained to us, no material discrepancies were noticed on physical verification of stocks as compared to book records.

III. (a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s301 of the Companies Act, 1956.

(b) As the Company has not granted any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties, is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s. 301 of the Companies Act, 1956, hence overdue amount of more than rupees one lac does not arise and t h e clause is not applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies Firms or other Parties covered in the register maintained U/s. 301 of the Companies Act, 1956.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties, is not applicable to the company.

There is no continuing failure by the company to correct any major weaknesses in internal control.

V. (a) In our opinion and according to the information and explanation given to us, since no contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the company in respect of any party in the financial year, the entry in the register U/s. 301 of the Companies Act, 1956 does notarise.

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price have regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

VII. In our opinion the company is have internal audit system commensurate with its size and nature of its business.

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX. (a) The Company is regular in depositing statuatory dues including PF, Income tax and any other

statuatory dues with the appropriate authorities and at the last of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

(b) According to the information and explanations given to us, no undisputed amounts are payable in respect of PF, Income tax and any other statuatory dues as at the end of the period, for a period more than six months from the date they became payable.

X. The Company has been registered for a period of not less than 5 years, and the company has no accummulated losses at the end of the financial year and the company has not incurred cash losses in this financial year and in the immediately preceding financial year.

XI. According to information and explanations given to us, the Company has not taken any loans from Banks or Financial Institutions. Hence this Clause of repayment of dues to financial Institutions or banks or debenture holders and the defaulted payment therein is not applicable to the Company.

XIII. This clause is not applicable to this Company as th Company is not covered by the provisions of special statute applicable to Chit Fund is respect of Nidhi/Mutual Benefit Fund/socieities.

XIV According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditors Report) Order 2003, are not applicable to the Company.

XV According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or Financial Institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the company has not obtained any Term Loans, hence this clause is not applicable.

XVII. . According to the information and explanations given to us, no funds are raised by the Company on

short-term basis. Hence the clause of short term funds being used for long-term investment does not rise.

XVIII. According to the information and explanations given to us the Company has not made any preferential allotment of Shares to parties and Companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does not arise.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For P. MURALI & CO., CHARTERED ACCOUNTANTS SD/- PLACE: HYDERABAD P. MURALI MOHANA RAO DATE: 02-09-2009 PARTNER

Mar 31, 2008

We have audited the attached Balance Sheet of SECUNDERABAD HEALTHCARE LIMITED as at 31st March, 2008 and also Profit & Loss Account for the year ended on the date annexed thereto and the cash flow statement for the year ended on that date. These financial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these financial statements based on our audit

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

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, proper books of account as required by law have been kept by company so far as appears from our examination of those books

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

(iv) In our opinion, the Balance Sheet & Profit & Loss Account dealt with by this report comply with the Accounting standards referred to in sub-section (3C) of Section 211 of Companies Act, 1956;

(v) On the basis of written representations received from the Directors, as on 31 st March, 2008 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March, 2008 from being appointed Director in terms of clause (g) of sub-section(l) of section 274 of the Companies Act, 1956;

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31 st March; 2008;

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

And

ANNEXURE TO THE AUDITORS REPORT

I. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

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

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

The Company is maintaining proper records of inventory and as explained to us, no material discrepancies were noticed on physical verification of stocks as compared to book records.

III. (a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s301 of the Companies Act, 1956.

(b) As the Company has not granted any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties, is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s. 301 of the Companies Act, 1956, hence overdue amount of more than rupees one lac does not arise and the clause is not applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies Firms or other Parties covered in the register maintained U/s. 301 of the Companies Act, 1956.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties, is not applicable to the company.

V. (a) In our opinion and according to the information and explanation given to us, since no-contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the" company in respect of any party in the financial year, the entry in the register U/s. 301 of the Companies Act, 1956 does not arise.

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price have regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the . clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National . Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

VII. Since the paid-up capital and Reserve of the Company at the commencement of the financial year was not exceeding Rs. 50 lacs or not having an average annual turnover exceeding five crore rupees for a period of three consecutive financial years immediately preceding the current financial year, hence the clause of having an Internal Audit system commensurate with its size and nature of its business in not applicable. ?

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX. (a)The Company is regular in depositing statuatory dues including PF, Income Tax, and any other statuatory dues with the appropriate authorities and at the last of the financial year there were no .; amounts outstanding which were due for more than 6 months from the date they became payable.

(b) According to the information and explanations given to us, no undisputed amounts are payable in respect of PF, Income Tax, and any other statuatory dues as at the end of the period, for a period more than six months from the date they became payable.

XIII. This clause is not applicable to this Company as the Company is not covered by the provisions of special statute applicable to Chit Fund is respect of Nidhi/Mutual Benefit Fund/socieities.

XIV. According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditors Report) Order 2003, are not applicable to the Company.

XV. According to the information and explanations given to us the Company has net given any guarantee for loans taken by others from banks or Financial Institutions, and hence the applicability of this clause regarding terms and conditions which are prejudicial to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the company has not obtained any Term Loans, hence this clause is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For P.MURALI&CO, CHARTERED ACCOUNTANTS

PLACE: HYDERABAD P. MURALI MOHANA RAO DATE : 11.08.2008 PARTNER

Mar 31, 2007

We have audited the attached Balance Sheet of SECUNDERABAD HEALTHCARE LIMITED as at 31 st March, 2007 and also Profit & Loss Account for the year ended on the date annexed thereto and the cash flow statement for the year ended on that date. These financial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

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, proper books of account as required by law have been kept by company so far as appears from our examination of those books

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

(iv) In our opinion, the Balance Sheet & Profit & Loss Account dealt with by this report comply with the Accounting standards referred to in sub-section (3C) of Section 211 of Companies Act, 1956;

(v) On the basis of written representations received from the Directors, as on 31 st March, 2007 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31 st March, 2007 from being appointed Director in terms of clause (g) of sub-section(l) of section 274 of the Companies Act, 1956;

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31 st March; 2007;

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

ANNEXURE TO THE AUDITORS REPORT

I. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.

II. (a) The inventory has been physically verified during the year and in our opinion, the frequency of verification is reasonable.

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

The Company is maintaining proper records of inventory and as explained to us, no material discrepancies were noticed on physical verification of stocks as compared to book records.

III. (a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other

Parties covered in the register maintained U/s 301 of the Companies Act, 1956.

(b) As the Company has not granted any loans, the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties, is not applicable to the company.

(d) No loans have been granted to Companies, Firms & other parties listed in the register U/s. 301 of the Companies Act, 1956, hence overdue amount of more than rupees one lac does not arise and the clause is not applicable.

(e) The Company has not taken any loans, secured or unsecured from Companies Firms or other Parties covered in the register maintained U/s. 301 of the Companies Act, 1956.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties, is not applicable to the company.

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price have regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A, 58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

VII. In our opinion, the company is having internal audit system, commensurate with its size and nature of its business.

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX. (a)The Company is regular in depositing statuatory dues including PF, Income Tax, and any other statuatory dues with the appropriate authorities and at the last of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

XIII. This clause is not applicable to this Company as th Company is not covered by the provisions of special statute applicable to Chit Fund is respect of Nidhi/Mutual Benefit Fund/socieities.

XV. According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or Financial Institutions, and hence the applicability of this claus regarding terms and conditions which are prejudicial to the interest of the company does not arise.

XVI. According to the information and explanations given to us, the company has not obtained any Term Loans, hence this clause is not applicable.

XVII. According to the information and explanations given to us, no funds are raised by the Company o short-term basis. Hence the clause of short term funds being used for long-term investment does not arise.

XVIII. According to the information and explanations given to us the Company has not made an preferential allotment of Shares to parties and Companies covered in the Register maintained unde section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the pric at which shares have been issued and whether the same is prejudicial to the interest of the Compan does not arise.

XX. According to information and explanations given to us, the company has not raised money by way c public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by Public Issue is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit.

For RMURALI&CO, CHARTERED ACCOUNTANTS

P. MURALI MOHANA RAO PLACE : HYDERABAD PARTNER DATE : 21-04-2007

Mar 31, 2006

ANNUAL REPORT 2005-2006

AUDITORS' REPORT

To The Members, SECUNDERABAD HEALTH CARE LIMITED

We have audited the attached Balance Sheet of SECUNDERABAD HEALTH CARE LIMITED as at 31st March 2006 and also the Profit & Loss Account for the period ended on the date annexed thereto and the cash flow statement for the period 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.

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

As required by the Companies (Auditor's Report) order 2003 and as amended by the Companies (Auditor's Report) (Amendment) Order 2004, issued by the Central Government of India in terms of the sub-section(4A) of section 227 of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

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 purposes of our Audit;

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

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

(iv) In our opinion, the Balance Sheet & Profit & Loss Account dealt with by this report comply with the Accounting standards referred to in sub- section (3C) of Section 211 of Companies Act, 1956 ;

(v) On the basis of written representations received from the Directors, as on 31st March, 2006 and taken on record by the Board of Directors,we report that none of the Directors is disqualified as on 31st March, 2006 from being appointed Director in terms of clause(g) of sub-section(1) of section 274 of the Companies Act, 1956;

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2006;

(b) In the case of the Profit & Loss Account, of the Profit for the period ended on that date;

And

For P. MURALI & CO., CHARTERED ACCOUNTANTS

R. MURALI MOHANA RAO PARTNER

PLACE : HYDERABAD DATE : 02-09-2006

ANNEXURE TO THE AUDITORS' REPORT

I. The Company has no fixed Assets as the substantial assets have been disposed off during the year. Hence this clause is not applicable.

II. (a) The Inventory has been physically verified during the year and in our opinion the frequency of verification is reasonable.

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

The Company is maintaining proper records of inventory and as explained to us, no material discrepancies were noticed on physical verification of stocks as compared to book records.

Ill. (a) The Company has not granted any loans, secured or unsecured to Companies, Firms or other Parties covered in the register maintained U/s.301 of the Companies Act, 1956.

(b) As the Company has not granted any loans,the clause of whether the rate of interest & other terms and conditions on which loans have been granted to parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(c) As no loans are granted by company, the clause of receipt of interest & principal amount from parties, is not applicable to the company.

(e) The Company has not taken any loans, secured or unsecured from Companies, Firms or other Parties covered in the register maintained U/s.301 of the Companies Act, 1956.

(f) As the Company has not taken any loans,the clause of whether the rate of interest & other terms and conditions on which loans have been taken from parties listed in the register maintained under section 301 is prejudicial to the interest of company, is not applicable.

(g) As no loans are taken by the company, the clause of repayment of interest & principal amount to parties, is not applicable to the company.

V. (a) In our opinion and according to the information and explanation given to us since no contracts or arrangements referred to in section 301 of the Companies Act, 1956 have been made by the company in respect of any party in the financial year, the entry in the register U/s.301 of the Companies Act, 1956 does not arise.

(b) According to the information and explanations given to us, as no such contracts or arrangements made by the company, the applicability of the clause of charging the reasonable price having regard to the prevailing market prices at the relevant time does not arise.

VI. The Company has not accepted any deposits from the public and hence the applicability of the clause of directives issued by the Reserve Bank of India and provisions of section 58A,58AA or any other relevant provisions of the Act and the rules framed there under does not arise. As per information and explanations given to us the order from the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal has not been received by the Company.

VII. In our opinion, the company is having internal audit system, commensurate with its size and nature of its business.

VIII. In respect of the Company, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956.

IX. a) The Company is regular in depositing statutory dues including Income Tax, and any other statutory dues with the appropriate authorities and at the last of the financial year there were no amounts outstanding which were due for more than 6 months from the date they became payable.

b) According to the information and explanations given to us, no undisputed amounts are payable in respect of Income Tax, and any other statutory dues as at the end of the period, for a period more than six months from the date they became payable.

X. The Company has been registered for a period of not less than 5 years, and its accumulated losses at the end of the financial year is more than fifty percent of its net worth and the company has not incurred cash losses in this financial year but has incurred cash losses in the immediately preceding financial year.

XI. According to information and explanations given to us, the Company has not taken any loans from Banks or Financial Institutions. Hence this clause of re payment of dues to financial Institutions or banks or debenture holders and the defaulted payment therein is not applicable to the Company.

XIII. This clause is not applicable to this Company as the Company is not covered by the provisions of special statute applicable to Chit Fund in respect of Nidhi / Mutual Benefit Fund / Societies.

XIV. According to the information and explanations given to us, the company is not dealing or trading in shares, securities, Debentures and other investments and hence the provisions of clause 4(xiv) of the Companies (Auditor's Report) Order 2003, are not applicable to the Company.

XVI. According to the information and explanations given to us, the company has not obtained any Term Loans, hence this clause is not applicable.

XVII. According to the information and explanations given to us, no funds are raised by the Company on short-term basis. Hence the clause o short term funds being used for long-term investment does not arise.

XVIII. According to the information and explanations given to us, the Company has not made any preferential allotment of Shares to parties and Companies covered in the Register maintained under section 301 of the Companies Act, 1956 and hence the applicability of the clause regarding the price at which shares have been issued and whether the same is prejudicial to the interest of the Company does not arise.

XX. According to information and explanations given to us,the company has not raised money by way of public issues during the year, hence the clause regarding the disclosure by the management on the end use of money raised by Public Issue is not applicable.

XXI. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year under audit. For P. MURALI & CO., CHARTERED ACCOUNTANTS

P. MURALI MOHANA RAO PARTNER

PLACE : HYDERABAD DATE : 02-09-2006

Mar 31, 2002

We have audited the attached Balance Sheet of M/s. M/s. SECUNDERABAD HEALTHCARE LIMITED, as at 31st March, 2002 and also the Profit & Loss Account of the company for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

As required by the Manufacturing and Other Companies (Auditors Report) Order, 1988 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956 we enclose in the Annexure a Statement on the matters specified in paragraphs 4 and 5 of the said order.

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 purposes of our Audit.

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

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

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

(v) On the basis of written representations received from the directors, as on 31 March, 2002 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31 March, 2002 from being appointed as director in terms of clause (g) of sub-section 1 of section 274 of the Companies Act, 1956.

(i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2002.

And

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

ANNEXURE TO THE AUDITORS REPORT

(a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The management has carried out a physical verification of fixed assets and as explained to us, no serious discrepancies have been noticed on such verification

(b) None of the fixed assets have been revalued during the current year.

(d) In our opinion, the procedures of the physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(e) As explained to us, no material discrepancies were noticed on physical verification of stocks as compared to book records.

(f) In our opinion the valuation of stocks is fair and proper and is in accordance with the normally accepted accounting principles.

(g) The company has not taken any loans, secured or unsecured from companies, firms or other parties listed in the register maintained U/S 301 of the Companies Act, 1956

(h) The company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained U/S 301 of the Companies Act, 1956.

(i) Loans and Advances in the nature of loans have not been given by the company to any party.

(j) In our opinion, there are adequate internal control procedures, commensurate with the size of the company and nature of its business for the purchase of stocks, Plant & Machinery, equipment and other Assets.

(k) In our opinion and according to the information and explanation given to us, the transactions of purchase of materials made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 and aggregating during the current year to Rs. 50,000 more in respect of each party have not been made by the company.

(l) On the basis of evaluation by persons responsible for physical verification of stocks, there were no unserviceable or damaged stocks.

(m) The company has not accepted any deposits from the public.

(n) In our opinion reasonable records have been maintained by the company for the sale and disposal of scrap. The company has no by-products.

(o) In our opinion, the company is having internal audit system commensurate with its size and nature of its business.

(p) The Central government has not prescribed maintenance of accounts and records under section 209(1)(d) of the Companies Act, 1956.

(q) The company does not have arrears of Provident Fund and Employees State Insurance dues.

(r) As at the last day of the financial year, there were no outstanding undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Customs Duty and Excise Duty for a period of more than six months from the date on which they became payable,

(s) No personal expenses have been charged to revenue accounts during the year under Audit.

(t) The company is not a Sick Industrial Company within the meaning of clause (o) of sub section (1) of Section 3 of Sick Industrial Companies (Special Provision) Act, 1985.

(u) In our opinion the company has reasonable system of recording receipts, issues and consumption of materials and stores commensurate with its size and nature of its business. As regards allocation of materials, the company has a reasonable system commensurate with its size and nature of its business to ensure that materials, which are chargeable to patients are properly charged.

(v) The company has a reasonable system of charging patients the cost of usage of equipment commensurate with its size and nature of its business.

(w) The company has a reasonable system of authorisation at proper levels and an adequate system of internal controls commensurate with the size and nature of its business for issue of materials and charging materials and to patients.

For MOGILI SRlDHAR & CO., CHARTERED ACCOUNTANTS

PLACE: HYDERABAD P. MURALI MOHANA RAO DATE: 26-8-2002 PARTNER

Mar 31, 2001

We have audited the attached Balance Sheet of M/s. SECUNDERABAD HEALTHCARE LIMITED as at 31st March, 2001 and also the Profit and Loss Account of the company for the year ended on that date annexed thereto and report that:

1. As required by the Manufacturing and Companies (Auditor's Report) Order, 1988 issued by the Company Law Board in terms of Section 227(4A) 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.

2. Further to the comments in the Annexure referred to in the paragraph above.

a) We have obtained all the information and explanations which to the best" of our knowledge and belief were necessary for the purpose of our Audit.

b) In our opinion, proper books of account have been kept by the company as required by law so far as appears from our examination of the 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, and to the best of our information and according to the explanations given to us, the Balance Sheet and Profit and Loss Account comply with the accounting standards referred to in section 211 (3C) of the Companies Act, 1956.

e) On the basis of representatives received from the Directors of the Company. We report that no director is disqualified from being appointed as a director of the company under clause (9) of subsection (1) of sec. 274 of Companies Act 1956.

f) In our opinion and to the best of our information and according to the explanations given to us, the accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view:

i) In the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2001. and

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

For MOGILI SRIDHAR & CO., CHARTERED ACCOUNTANTS

PLACE: HYDERABAD P.MURALI MOHANA RAO DATE : 31-05-2001 PARTNER

ANNEXURE TO THE AUDITORS' REPORT

(b) None of the fixed assets have been revalued during the current year.

(d) In our opinion, the procedures of the physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(e) As explained to us, no material discrepancies were noticed on physical verification of stocks as compared to book records.

(f) In our opinion the valuation of stocks is fair and proper and is in accordance with the normally accepted accounting principles.

(g) The company has not taken any loans, secured or unsecured from companies, firms or other parties listed in the register maintained U/S 301 of the Companies Act, 1956.

(h) The company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained U/S 301 of the Companies Act, 1956.

(i) Loans and Advances in the nature of loans have not been given by the company to any party.

(k) In our opinion and according to the information and explanation given to us, the transactions of purchase of materials made 'in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 and aggregating during the current year to Rs. 50,000 or more in respect of each party have not been made by the company.

(l) On the basis of evaluation by persons responsible for physical verification of stocks, there were no unserviceable or damaged stocks.

(m) The company has not accepted any deposits from the public.

(n) Inour opinion reasonable records have been maintained by the company for the sale and disposal of scrap. The company has no by-products.

(o) In our opinion, the company is having internal audit system commensurate with its size and nature of its business.

(p) The Central government has not prescribed maintenance of accounts and records under section 209(1)(d) of the Companies Act, 1956.

(q) The company does not have arrears of Provident Fund and Employees State Insurance dues.

(s) No personal expenses have been charged to revenue accounts during the year under Audit.

(t) The company is not a Sick Industrial Company within the meaning of clause (o) of sub section (1) of Section 3 of Sick Industrial Companies (Special Provision) Act, 1985.

(u) In our opinion the company has reasonable system of recording receipts, issues and consumption of materials and stores commensurate with its size and nature of its business. As regards allocation of materials the company has a reasonable system commensurate with its size and nature of its business to ensure that materials which are chargeable to patients are properly charged.

(v) The company has a reasonable system of charging patients the cost of usage of equipment commensurate with its size and nature of its business.

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