Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matter in Section 134 (5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flow of the Company in accordance with the Accounting Principles generally accepted in India including Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. The responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities, selection and application of appropriate accounting policies, making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls and ensuring their operating effectiveness and the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone 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 standalone financial statements are free from material misstatement.

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

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

Opinion

In our opinion and to the best of our information and according to the explanation given to us, the aforesaid standalone financial statements give the information as 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, 2015;

(b) in the case of the statement of profit and loss, of the loss for the year ended on that date; and

(c) in the case of cash flow statements, of the cash flows for the year ended on that date.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditors' Report) Order, 2015 (hereinafter referred to as the "Order"), issued by the Central Government of India in terms of Section 143(11) of the Act and we give in the Annexure hereto a statement on the matters specified in paragraphs 3 and 4 of the said Order, to the extent applicable.

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

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

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

c. The Balance Sheet, the profit and loss and cash flow statements dealt with by this report are in agreement with the books of account;

d. In our opinion the aforesaid standalone financial statements comply with the Accounting Standards specified 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 of the Company, as on 31st March, 2015 and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the Act;

f. With respect to the other matters to be included in the Auditors' 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 given to us:

(i) . The Company has disclosed the impact of pending litigations on its financial position in its standalone

financial statements: Refer Note no. 22 on contingent liabilities to the standalone financial statement.

(ii) . There were no amounts which were required to be transferred to the Investor Educations and

Protection Fund by the Company.

Annexure to the Auditors' Report

(Referred to in paragraph 3 of our report of even date)

1. in respect of its fixed assets, since the Company does not hold any fixed assets, clauses (i) (a), (i) (b) of para 3 of the Order are not applicable.

2. In respect of its inventories held as stock in trade:

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

b. In our opinion and based on the information and explanations given to us, the procedure for physical verification followed by the management of inventories lying with it were 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 by the Company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification.

3. The Company has not granted any loans to parties covered in the register maintained under section 189 of the Companies Act, 2013. therefore, the requirements of clauses (iii) (a), (iii) (b) of para 3 of the Order are not applicable.

4. In our opinion and according to the information and explanations given to us, there is adequate internal control system maintained by the Company commensurate with the size and nature of the Company, for purchase of inventory. During the course of audit, we have not observed any continuing failure to correct major weakness in such internal controls.

5. According to the information and explanations given to us, the Company has not accepted deposits from the public. Therefore, the provisions of clause 4 (v) of the Companies (Auditors' Report), Order are not applicable to the Company.

6. According to the information and explanations given to us, the requirements of maintenance of cost records as prescribed by the Central Government under Section (1) of Section 148 of the Companies Act are properly maintained by the Company, as evidenced by a certificate of the compliance by a cost accountant.

7. In respect of statutory dues:

a. According to the records of the Company, undisputed statutory dues, including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise duty, Value Added Tax, Cess and other statutory dues, as applicable, have been generally and regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as on 31st March, 2015 for a period more than six months from the date they became payable.

b. According to the information and explanations given to us, there are no dues of Sales Tax, Income Tax Service Tax, Customs Duty, Wealth Tax, Excise Duty and Cess which have not been deposited on account of any dispute.

c. There is no amount required to be transferred to the Investor Education and Protection Fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under.

8. The accumulated losses of the Company at the end of the financial year are less than fifty percent of its net worth. The Company has not incurred cash loss during the current financial year however no cash loss has been incurred by the company in the immediately preceding financial year.

9. Based on our audit procedures and according to the information and explanations given to us, Company had not taken any loan from financial institution during the year and there was no loan outstanding at the beginning of the year, therefore clause ix of para 3 of the Order is not applicable to the Company.

10. The Company had not given any guarantee for loans taken by other from banks / financial institution. Therefore, provision of clause 4 (x) of the Order is not applicable to the Company.

11. In our opinion and according to the information and explanations given to us, the Company had not raised any term loan during the year. Therefore, provision of clause4 (xi)of the Order is not applicable to the Company.

12. According to the information and explanations given to us and on the basis of the examination of the records, no fraud on or by the Company was noticed or reported during the year.

                                   FOR BIPIN SHAH & ASSOCIATES
                                         Chartered Accountants
                                                  FRN: 101519W

                                                    Bipin Shah
                                                     (Partner)
                                        Membership No.: 013191