Auditor Report of Shree Rang Mark Travels Ltd.

Mar 31, 2014

We have audited the accompanying financial statements of Shree Rang Mark Travels Limited, 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 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 211of the Compliance Act, 1956 ("the Act").This responsibility includes the design, implementation and maintenance of internal control relevant to the presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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 of 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 in 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 procedure 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.

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 Balance Sheet, of the state of affairs of the Company as at March 31,2014;

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

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

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 to those books.

c) the Balance Sheet, Statement of Profit and Loss, 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 sub-section (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.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441 A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the company.

The Annexure referred to in paragraph 1 of the Our Report of even date to the members of Shree Rang Mark Travels Limited, on the accounts of the company for the year ended 31st March, 2014.

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

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

b) As explained to us, fixed assets have been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification.

c) In our opinion and according to the information and explanations given to us, no fixed asset has been disposed off during the year and therefore does not affect the going concern assumption.

2. a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has taken loans from parties listed in the register maintained under Section 301 of the Companies Act, 1956.

3. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business.

4. Based on the audit procedures applied by us and according to the information and explanations provided by the management, the particulars of contracts or arrangements referred to in section 301of the Act have been entered in the register required to be maintained under that section.

5. The Company has not accepted any deposits from the public covered under section 58A, and 58 AA of the Companies Act, 1956.

6. The clause relating to internal audit system is not applicable to the company.

7. Maintenance of cost records'' has been prescribed by the Central Government under clause(d) of sub section (1) of section 209 of the Act is not applicable to the company.

8. The company has no undisputed statutory dues payable to the government outstanding as on the balance sheet date.

9. The company does not have any accumulated loss and has not incurred cash loss during the financial year covered by our audit.

10. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the Company has not taken any loan from the financial institutions and as such the question of default does not arise.

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

12. The Company is not a chit fund or a nidhi/ mutual benefit fund/society. Therefore, the provision of this clause of this Companies (Auditor''s Report) Order, 2003 (as amended) is not applicable to the Company.

13. According to information and explanations given to us, the Company is conducting business related to tourism. Proper records & timely entries have been maintained in this regard.

14. According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.

15. Based on our audit procedures and on the information given by the management, we report that the Company has not raised any term loans during the year.

16. Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company Asat31st March, 2014,we report that no funds raised on short-term basis have been used for long- term investment by the Company.

17. Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year.

18. The Company had not issued any debentures during the period under audit.

19. The Company has not raised any money by public issues during the year.

20. Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have been informed of such case by the management.

For B.K. Sen & Associates Chartered Accountants FRN No. 316103 E (N. K. Sen) Partner Membership No. 052754 Place : Kolkata Date : 31.05.2014

---

Mar 31, 2013

We have audited the accompanying financial statements of Shree Rang Mark Travels Limited, 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 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.

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 in 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.

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 loss 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.

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 sub-section (3C); of section 211 of the Companies Act, 1956;

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

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

The Annexure referred to in paragraph 1 of the Our Report of even date to the members of Shree Rang Mark Travels Limited, on the accounts of the company for the year ended 31st March, 2013.

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

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

(b) As explained to us, fixed assets have been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us, no fixed asset has been disposed off during the year and therefore does not affect the going concern assumption.

2. (a) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clauses iii (b), (c) and (d) of the order are not applicable to the Company.

(b) According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has taken loans from parties listed in the register maintained under Section 301 of the Companies Act, 1956.

3. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business.

4. Based on the audit procedures applied by us and according to the information and explanations provided by the management, the particulars of contracts or arrangements referred to in section 301 of the Act have been entered in the register required to be maintained under that section.

5. The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956.

6. The clause relating to internal audit system is not applicable to the company.

7. Maintenance of cost records'' has been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Act is not applicable to the company.

8. The company has undisputed statutory dues payable to the government outstanding as on the balance sheet date.

9. The Company does not have any accumulated loss and has not incurred cash loss during the financial year covered by our audit.

10. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not taken any loan from the financial institutions and as such the question of default does not arise.

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

12. The Company is not a chit fund or a nidhi /mutual benefit fund/society. Therefore, the provision of this clause of the Companies (Auditor''s Report) Order, 2003 (as amended) is not applicable to the Company.

13. According to information and explanations given to us, the Company is conducting business related to tourism. Proper records & timely entries have been maintained in this regard.

14. According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.

15. Based on our audit procedures and on the information given by the management, we report that the company has not raised any term loans during the year.

16. Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company as at 31st March, 2013, we report that no funds raised on short-term basis have been used for long-term investment by the Company.

17. Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year.

18. The Company had not issued any debentures during the period under audit.

19. The Company has not raised any money by public issue during the year.

20. Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

For P. Mukherjee & Co

Chartered Accountants

G.C.Mukherjee

Partner

Mem No.017630

Date : 31/05/2013

Place : Kolkata

---

Mar 31, 2012

We have audited the attached Balance Sheet of SHREE RANG MARK TRAVELS LIMITED as at 31st march 2012 and also the Profit and Loss Account 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.

We have conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatements. An audit includes examining, on test basic, 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 statements presentation. We believe that our audit provides a reasonable basis for our opinion.

We report as follows:

1 As required by the companies (auditor's Report) Order, 2003 Issued by the Central Government of India, in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in the paragraphs 4 and 5 of the said Order.

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

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

b) Kept by the company so far as appears from our examination of the books.

c) The Balance Sheet and Profit & Loss Account dealt with by this reports are in agreement with the books of accounts.

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

e) On the basis of the written representations received from the Directors as on 31st march 2012 and taken on record by the Board of Directors, we do hereby certify that none of the Directors of the Company i.e. SHREE RANG MARK TRAVELS LIMITED as on 31st March 2012 is disqualified From being appointed as a director in the aforementioned company in terms of clause (g) of sub-section (1) of Section 274 of the companies. Act, 1956 on the said date.

f) In our opinion and to the best of our infonnation and according to the explanation given to us, the said accounts, read together with the significant Accounting policies and Notes forming part of accounts, give the information required by the companies Act, 1956 in the manner accounting principles generally accepted in India;

i) In the case of the Balance Sheet, of the State of Affairs of the company as on 31st March 2012;

ii) In the case of the Profit and Loss account, of the Loss of the Company for the year ended on the date.

Referred to in paragraph 1 of our Report of even date:

1. The Company has no Fixed Assets during the year under Audit.

2. The securities are held as Investment by the company.

3. The Company has not granted / taken Unsecured Loan to/from Companies, firms or other parties listed in the Register maintained under Section 301 of Companies Act, 1956.

4. In our opinion the Company has an Internal Control System to commensurate with its size and nature of its business.

5. In our opinion and according to the information given to us, the transactions that need to be entered in the register maintained under section 301 of the Companies Act, 1956 have been so entered.

6. In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from the public and therefore, the provisions of Section 58A and 58AA of the Companies Act,1956 and Rules under are not applicable to the Company.

7. The clause relating to the Internal Audit System is not applicable to the Company.

8. Maintenance of Cost Records under Section 209(1 )(d)of the Companies Act, 1956 are not applicable to the Company.

9. The Company has no undisputed statutory dues payable to the government outstanding for more than six months as on the balance sheet date.

10. The company has not accumulated losses as at 31 March 2012 which more than 50% of the net worth of the Company.

11. According to the records of the company examined by us and on the basis of information & explanations given to us, the Company has not defaulted in repayment of its dues to any financial institution or banks during the year.

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

13. The provisions of any Special Statute applicable to chit fund, nidhi or Mutual fund benefit/societies are not applicable to the company.

14. The Company has maintained proper records of transaction and contracts in respect of investment in shares, securities, debentures and other investment and timely entries have been made therein. All shares debentures and other investment have been held by the Company in its own name.

15. According to the information any explanations given to us, the Company has not given any guarantee for loans taken by others from banks and financial and therefore paragraph 4(xv) Of the order is not applicable to the Company.

16. No Term loans have taken during the year of Audit.

17. On the basis of an overall examination of the financial statements of the company, there are no funds raised on a short term basis which have been used for long term investment and vise versa.

18. The Company has not made any preferential allotment of shares during the year to any parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956.

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

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

21. To the best of our knowledge and explanations gives to us, no fraud on or by the company has been noticed or reported during the year.



For Soumitro Mukherjee & Co.

Chartered Accountants C. A. S. Mukherjee Place: Mumbai Proprietor Dated: 28.06.2012 Membership No. 55585

---

Mar 31, 2009

We have audited the Attached Balance Sheet of Shri Rang Mark Travels Ltd. As at 31st March 2009 also the Profit & Loss A/c. and for the year ended on the date annexed thereto. These financial statement are the responsibility of the companys management. Our responsibility is tetexpress^n opinion on these-financial statement based on our audit.

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

As required by the Companies (Auditors Report) Order, 2003 issued by the Central Governmentroflndia in term of Sub-sectiorT(4A) of section 227 of the Companies Act,1956. We enclose in the Annexure a statement on the matters specified in the paragraphs 4 and 5 of the said order.

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

I) We have obtained all the information and explanations. Which to our best knowledge and belief were necessary for the purposes of our audit.

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

III) The Balance Sheet, Profit & Loss A/c Statement dealt by this report are in the agreement with the books of accountants.

IV) In our opinion, the Balance Sheet, Profit & Loss A/c Statement dealt with by this report company with the according standards referred to in sub-section (3c) of section 211 of the Companies Act, 1956

V) On the basis of written representations received from the directors, as on 31st 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 as a Director in terms of clause (g) of sub -section (1) of section 274 of the Companies Act, 1956

VI) In our opinion and to the best of our information and according4o the explanation given to us the said accounts read together with Accounting Polices and Notes thereon give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India.

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

b) In the case of Profit & Loss A/c. of the Profit of the Company for the year ended on that date: and

ANNUXURE TO THE AUDITORS REPORT Referred to in-paragraph 1 of our Rcpojtof even-date:

1. a).JThe Company has maintained proper records showing full particulars jncluding quantitative details and situation of fixed assets.

b) All the assets have been physically verified by the management during the year but there is regular program of verification. Which in our opinion, is reasonable having regard to the size of the Company and the nature Tof its assets. As explained the reconciliation of physical inventory of all assets with book records is almost over and the Company i&Jn process of reconciliation of physical-inventory with book-records in respect of all the assets.

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

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

(b)ln our opinion and according to the information and explanations given to us, the procedures of physical verification of inventory followed the the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

(C) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of inventory, the Company is maintaining proper records of inventory the discrepancies noticed on physical verification of inventory as compared to the book records were not material and have been properly dealt with in the books of account.

3. (a) according to information and explanations given to us, the Company has not taken loan from the parties listed in the Register maintained under Section 301 of the Companies Act, 1956 : also the Company has not granted any an unsecured loan to any associates Company, listed in the Register maintained under section 301 of the Companies Act, 1956

(b) According to the information -and explanations given to us, in our opinion, the rate of interest and other terms and conditions of above loan granted by the Company, are not prima facie, prejudicial to the company.

(d) There is no overdue amount of loan granted to the company listed in the register - maintained under section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedure commensurate with the size of the Company and nature of its business. During the course of our audit, no major weakness has been noticed in the internal controls.

5. In our opinion and according to the information and explanations given to us, the Company has not accepted deposits from the public andtherefore, the provisions of section 58A and 58AA of Companies Act, 1956, and Rules there under are not applicable to the Company.

6. In our opinion, an internal audit system is not applicable to the company.

7. We have broadly reviewed the books of account maintained by the company. The company is not required to maintain cost records as prescribed by Central Government u/s 209 (1) (d) of the Companies Act, 1956. as it did not carry any manufacturing activity and are of the opinion that prima-facie the prescribed accounts and records have been maintained. We have not, however, made a detailed examinations of the records with a view to determining, whether they are accurate or-Complete.

8. As per the information and explanations given to us, no undisputed amount payable in respect of Income tax, custom duty and excise duty were remaining outstanding as on 31 March, 2009SS for a period of six months form the date they become payable.

9. Based on our audit procedures and on the basis of information and explanations given by the management, we are of the opinion that the company has not defaulted in the repayment to dues to financial institutions. Banks and debentures and other securities.

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

11. The provisions of any special status applicable to Chit Fund, Nidhi or Mutual Benefit Fund/ Societies are not applicable to the company.

12. According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks and financial institutions.

13. To the best of our knowledge and belief and according to the information and explanations given to us, the company has not availed any term loan hence question of its application for the purpose for which it is obtained does not arise.

14.The company has not made any preferential allotment to parties and companies covered under register maintained under section 301 of the Companies Act,-1956.

Duringiheyear at the question of whether the price at which of the shares have been issued is prejudicial to the interest of the Company does not arise.

15. The company has not raised money by any public issues during the year.

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

For, Anand Gupta & Co. (Chartered Accountants)

(Anand Gupta) Proprietor

Mem. No.77615

Date: 08-06-2009 Place: Ahmedabad