Auditor Report of Typhoon Holdings Ltd.

Mar 31, 2014

We have audited the attached Balance Sheet of the Typhoon Holdings Limited as at 31st March, 2014 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express our 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 the Management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis of our opinion.

As required by the Companies (Auditors Report) Order, 2003 (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 :

1. We have obtained all the information and explanation, which is to the best of our knowledge and belief were necessary for the purpose of our audit.

2. 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.

3. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the Books of Account.

4. In our opinion the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

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

6. 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, 2014; and

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.

ANNEXURE TO THE AUDITORS'' REPORT

1. Clause 1(a), 1(b) & 1(c) are not applicable since Company does not have any Fixed Asset.

2. Clause 2(a), 2(b) & 2(c) is not applicable since there is no activity and inventory during the year.

3. The Company has neither granted nor taken any loans, secured or unsecured to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause iii(b), iii(c), iii(d), iii(e), iii(f) and iii(g) of paragraph 4 of the order is not applicable to the Company.

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

5. A. According to the information and explanations provided by the Management, we are of the opinion that no transactions made with the parties under Section 301 of the Companies Act, 1956.

B. Since no transaction entered this clause is not applicable.

6. The Company has not accepted any deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of section 58 A of the Act and the rules framed there under apply.

7. The maintenance of cost records has not been prescribed for the products of the Company by the Central Government under section 209(1)(d) of the Companies Act, 1956.

8. A. The Company is generally regular in depositing with appropriate authorities, undisputed statutory dues including Provident Fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and other statutory dues applicable to it. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, custom duty and excise duty were outstanding at the year end for a period of more than six months from the date they become payable.

B. According to information and explanation given to us and the records of the Company examined by us, no disputed statutory dues on account of sales tax, income tax, wealth tax, excise duty and cess.

9. The Company has accumulated losses at the end of the financial year and has incurred losses in current and immediately preceding financial year.

10. According to the records of the Company examined by us and explanations given to us, since the Company has not borrowed from financial institutions/banks, para 4(xi) of the Order is not applicable to the Company.

11. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

12. In our opinion, the Company is not a chit fund and nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xii) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

14. 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.

15. According to information and explanations given to us and on overall examination of the Balance Sheet of the Company, no fund short term or long term have been raised by the Company during the year, para 4(xvi) of the Order is not applicable to the Company.

16. The Company has not made any preferential allotment of shares to the parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956.

17. The Company has not issued any debentures during the year and there are no debentures outstanding on at the year ends, therefore the question of creation of Securities does not arise.

18. The Company has not raised any money through a public issue during the year.

19. According to 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.



For D.M. Oza & Associates Chartered Accountants Firm Registration No. : 119407W

D.M. Oza Proprietor Date : May 30, 2014 M. No. : 106993

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Mar 31, 2013

We have audited the attached Balance Sheet of the Typhoon Holdings Limited as at 31st March, 2013 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express our 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 the Management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis of our opinion.

As required by the Companies (Auditors Report) Order, 2003 (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 :

1. We have obtained all the information and explanation, which is to the best of our knowledge and belief were necessary for the purpose of our audit.

2. 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.

3. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the Books of Account.

4. In our opinion the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

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

6. 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, 2013; and

b) In the case of the Profit and Loss Account of the Loss of 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.

ANNEXURE TO THE AUDITORS’ REPORT

1. Clause 1(a), 1(b) & 1(c) are not applicable since Company does not have any Fixed Asset.

2. Clause 2(a), 2(b) & 2(c) is not applicable since there is no activity and inventory during the year.

3. The Company has neither granted nor taken any loans, secured or unsecured to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause iii(b), iii(c), iii(d), iii(e), iii(f) and iii(g) of paragraph 4 of the order is not applicable to the Company.

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

5. A. According to the information and explanations provided by the Management, we are of the opinion that no transactions made with the parties under Section 301 of the Companies Act, 1956.

B. Since no transaction entered this clause is not applicable.

6. The Company has not accepted any deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of section 58 A of the Act and the rules framed there under apply.

7. The maintenance of cost records has not been prescribed for the products of the Company by the Central Government under section 209(1)(d) of the Companies Act, 1956.

8. A. The Company is generally regular in depositing with appropriate authorities, undisputed statutory dues including Provident Fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and other statutory dues applicable to it. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, custom duty and excise duty were outstanding at the year end for a period of more than six months from the date they become payable.

B. According to information and explanation given to us and the records of the Company examined by us, no disputed statutory dues on account of sales tax, income tax, wealth tax, excise duty and cess.

9. The Company has accumulated losses of Rs. 30,02,028/- at the end of the financial year and has incurred losses in current and immediately preceding financial year.

10. According to the records of the Company examined by us and explanations given to us, since the Company has not borrowed from financial institutions/banks, para 4(xi) of the Order is not applicable to the Company.

11. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

12. In our opinion, the Company is not a chit fund and nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xii) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

14. 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.

15. According to information and explanations given to us and on overall examination of the Balance Sheet of the Company, no fund short term or long term have been raised by the Company during the year, para 4(xvi) of the Order is not applicable to the Company.

16. The Company has not made any preferential allotment of shares to the parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956.

17. The Company has not issued any debentures during the year and there are no debentures outstanding on at the year ends, therefore the question of creation of Securities does not arise.

18. The Company has not raised any money through a public issue during the year.

19. According to 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.

For Rishabh D. Jain & Co.

Chartered Accountants

Rishabh D. Jain

Place : Mumbai Proprietor

Date : September 02, 2013 M. No. : 116250

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Mar 31, 2012

We have audited the attached Balance Sheet of the Typhoon Holdings Limited as at 31st March, 2012 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express our 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 the Management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis of our opinion.

As required by the Companies (Auditors Report) Order, 2003 (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 :

1. We have obtained all the information and explanation, which is to the best of our knowledge and belief were necessary for the purpose of our audit.

2. 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.

3. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the Books of Account of the Company.

4. In our opinion the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

5. On the basis of written representations received from the Directors and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on March 31, 2012 from being appointed as Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

6. 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, 2012; and

b) In the case of the Profit and Loss Account of the Loss of 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.

ANNEXURE TO THE AUDITORS'' REPORT

1. Clause 1(a), 1(b) & 1(c) are not applicable since Company does not have any Fixed Asset.

2. Clause 2(a), 2(b) & 2(c) is not applicable since there is no activity and inventory during the year.

3. The Company has neither granted nor taken any loans, secured or unsecured to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause iii(b), iii(c), iii(d), iii(e), iii(f) and iii(g) of paragraph 4 of the order is not applicable to the Company.

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

5. A. According to the information and explanations provided by the Management, we are of the opinion that no transactions made with the parties under Section 301 of the Companies Act, 1956.

B. Since no transaction entered this clause is not applicable.

6. The Company has not accepted any deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of section 58 A of the Act and the rules framed there under apply.

7. The maintenance of cost records has not been prescribed for the products of the Company by the Central Government under section 209(1)(d) of the Companies Act, 1956.

8. A. The Company is generally regular in depositing with appropriate authorities, undisputed statutory dues including Provident Fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and other statutory dues applicable to it. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, custom duty and excise duty were outstanding at the year end for a period of more than six months from the date they become payable.

B. According to information and explanation given to us and the records of the Company examined by us, no disputed statutory dues on account of sales tax, income tax, wealth tax, excise duty and cess.

9. The Company has accumulated losses of Rs. 27,49,009/- at the end of the financial year and has incurred losses in current and immediately preceding financial year.

10. According to the records of the Company examined by us and explanations given to us, since the Company has not borrowed from financial institutions/banks, para 4(xi) of the Order is not applicable to the Company.

11. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

12. In our opinion, the Company is not a chit fund and nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xii) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

14. 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.

15. According to information and explanations given to us and on overall examination of the Balance Sheet of the Company, no fund short term or long term have been raised by the Company during the year, para 4(xvi) of the Order is not applicable to the Company.

16. The Company has not made any preferential allotment of shares to the parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956.

17. The Company has not issued any debentures during the year and there are no debentures outstanding on at the year ends, therefore the question of creation of Securities does not arise.

18. The Company has not raised any money through a public issue during the year.

19. According to 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.

For Rishabh D. Jain & Co. Chartered Accountants Rishabh D. Jain Place : Mumbai Proprietor Date : September 03, 2012 M. No. : 116250

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Mar 31, 2011

We have audited the attached Balance Sheet of the Typhoon Holdings Limited as at 31st March, 2011 and also the Profit and Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company''s Management. Our responsibility is to express our 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 the Management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis of our opinion.

As required by the Companies (Auditors Report) Order, 2003 (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:

1. We have obtained all the information and explanation, which is to the best of our knowledge and belief were necessary for the purpose of our audit.

2. 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.

3. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the Books of Account of the Company.

4. In our opinion the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

5. On the basis of written representations received from the Directors and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on March 31, 2011 from being appointed as Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

6. 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, 2011; and

b) In the case of the Profit and Loss Account of the Loss of 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.

ANNEXURE TO THE AUDITORS'' REPORT

1. Clause 1(a), 1(b) & 1(c) are not applicable since Company does not have any Fixed Asset.

2. Clause 2(a), 2(b) & 2(c) is not applicable since there is no activity and inventory during the year.

3. The Company has neither granted nor taken any loans, secured or unsecured to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause iii(b), iii(c), iii(d), iii(e), iii(f) and iii(g) of paragraph 4 of the order is not applicable to the Company.

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

5. A. According to the information and explanations provided by the Management, we are of the opinion that no transactions made with the parties under Section 301 of the Companies Act, 1956.

B. Since no transaction entered this clause is not applicable.

6. The Company has not accepted any deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of section 58 A of the Act and the rules framed there under apply.

7. The maintenance of cost records has not been prescribed for the products of the Company by the Central Government under section 209(1)(d) of the Companies Act, 1956.

8. A. The Company is generally regular in depositing with appropriate authorities, undisputed statutory dues including Provident Fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and other statutory dues applicable to it. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, custom duty and excise duty were outstanding at the year end for a period of more than six months from the date they become payable.

B. According to information and explanation given to us and the records of the Company examined by us, no disputed statutory dues on account of sales tax, income tax, wealth tax, excise duty and cess.

9. The Company has accumulated losses of Rs. 25,50,023/- at the end of the financial year and has incurred losses in current and immediately preceding financial year.

10. According to the records of the Company examined by us and explanations given to us, since the Company has not borrowed from financial institutions/banks, para 4(xi) of the Order is not applicable to the Company.

11. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

12. In our opinion, the Company is not a chit fund and nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xii) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors'' Report) Order, 2003 are not applicable to the Company.

14. 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.

15. According to information and explanations given to us and on overall examination of the Balance Sheet of the Company, no fund short term or long term have been raised by the Company during the year, para 4(xvi) of the Order is not applicable to the Company.

16. The Company has not made any preferential allotment of shares to the parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956.

17. The Company has not issued any debentures during the year and there are no debentures outstanding on at the year ends, therefore the question of creation of Securities does not arise.

18. The Company has not raised any money through a public issue during the year.

19. According to 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.

For Rishabh D. Jain & Co. Chartered Accountants Rishabh D. Jain Place: Mumbai Proprietor Date: September 02, 2011 M. No.: 116250

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Mar 31, 2009

We have audited the attached Balance Sheet of TYPHOON HOLDINGS LIMITED as at 31st March, 2009, the Profit and Loss Account and also the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit 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 Companies (Auditors Report) Order, 2003 (the order) issued by the Central Government of India in terms of sub-section (4 A) 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:

1. 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.

2. 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;

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

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

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

6. 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, 2009; and

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

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



ANNEXURE TO THE AUDITORS REPORT

1. Clause 1 (a), 1(b) & 1 (c) are not applicable since company does not have any Fixed Asset.

2. Clause 2(a), 2(b) & 2(c) is not applicable since there is no activity and inventory during the year.

3. The Company has neither granted nor taken any loans, secured or unsecured to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Therefore clause iii (b), iii(c), iii (d), iii (e), iii (f) & iii (g) of paragraph 4 of the order is not applicable to the company.

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

5. a). According to the information and explanations provided by the management, we are of the opinion that no transactions made with the parties under Section u/s 301 of the companies Act 1956.

b). Since no transaction entered this clause is not applicable.

6. The Company has not accepted any deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of section 58 A of the Act and the rules framed thereunder apply.

7. The maintenance of cost records has not been prescribed for the products of the company by the central government under section 209 (1) (d) of the companies Act 1956.

8. a. The Company is generally regular in depositing with appropriate authorities, undisputed statutory dues including provident fund, investor education and protection fund, employees state insurance, income-tax, sales-tax, wealth-tax, custom duty, excise duty, cess and other statutory dues applicable to it. According to the information and explanations given to us, no undisputed amounts payable in respect of income tax wealth tax, sales tax, customs duty, and excise duty were outstanding, at the year end for a period of more than six months from the date they became payable.

b. According to information and explanation given to us and the records of the company examined by us, no disputed statutory dues on account of sales-tax, income tax, wealth tax, excise duty and cess.

9. The Company has accumulated losses of Rs.2401,390/- at the end of the financial year and has incurred losses in the current and immediately preceding financial year.

10. According to the records of the Company examined by us and explanations given to us, since the Company has not borrowed from financial institutions/banks, para 4(xi) of the Order is not applicable to the Company.

11. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

12. In our opinion, the Company is not a chit fund and nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

13. In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

14. 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.

16. According to information and explanations given to us and on overall examination of the balance sheet of the Company, no fund short term or long term have been raised by the Company during the year, para 4(xvi) of the Order is not applicable to the Company.

1 7. The Company has not made any preferential allotment of shares to the parties or companies covered in the register maintained under Section 301 of the companies Ac, 1956.

18. The Company has not issued any debentures during the year and there are no debentures outstanding on at the year-ends, therefore the question of creation of Securities does not arise.

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

20. According to 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.



For: Rishabh D. Jain & Co.

CHARTERED ACCOUNTANTS

PLACE: MUMBAI

DATED: (CA Rishabh Jain)

PROPRIETOR

M. No. 116250