Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true & fair view of the financial position, financial performance of the Company in accordance with the Accouting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 ("the Act"). These responsibility includes the design, implementation and maintenance of internal control relevant to the preparation & presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to farud 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 resonable assurance about whether the financial statements are free from material misstatements.

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 judgement, 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 resonableness 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 accouting 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 case of the Statement of Profit & Loss, of the profit 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 statement on the matters specified in paragraphs 4 & 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 accounts as required by law have been kept by the Company so far as appears from our examination of those books.

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

d) In our opinion, the Balance Sheet, Statement of Profit & Loss 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 are disqualified as on March 31,2014 from being appointed as a director in terms of Clause (g) of Sub-section 274(1) of the Companies Act, 1956;

Annexure to Independent Auditor's Report as stated in Point no. I under Report on Other Legal and Regulatory Requirements Paragraph. As required by the Compnaies (Auditors' Report) Order, 2003 and according to the information and explanations given to us during the course of the audit and on the basis of such checks as were considered appropriate, we report that :

1 The Company is maintaining proper records showing full particulars, including quantitative details & situa tion of the fixed assets;

As per the the information and explanations given to us, the management carries out the physical verification of the fixed assets ar resonble intervals. No material discrepancies were noticed on such verification;

No significant Fixed Assets have been disposed of by the Company during the year and the question of effect on the going concern of the Company dose not arise.

2 The Company dose not have any stock of raw materials stores & spares & finished goods.Therefore Para 4(ii) of the Auditor's Report Order 2003 is not applicable.

3 .As informed to us, the Company has not granted any loans, secured or unsecured to companies, firms, or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Hence the provisions of clause iii(b),(c) and (d) are not applicable to the Company;

As per information furnished, the Company has not taken any loans from companies, firms, or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accorgingly clauses (f) and (g) are not applicable to the Company.

4 In our opinion, and according to information & explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business with regards to purchase of fixed assets and for sale of goods and services. During the course of our audit, we have not observed any major weakness in such internal control system.

5 a) Based on the Audit procedures applied by us and according to information & explanations provised 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 the maintained under that section.

b) As per information & explanations given to us and in our opinion, the transaction entered into by the Company with parties u/s 301 of the Act dose not exceeds five lacs rupees in the financial year therefore requirement of reasonableness of transactions dose not arises.

6 The Company has not accepted any deposits from the public & therefore the question of Compliance with the provision of Sections 58A & 58 AA or any other relevant provisions of the Companies Act,1956 & Companies (Acceptance of Deposit) Rules, 1975 apply.

7 The Company dose not have an internal audit system commensurate with the size and nature of its business.

8 The maintenance of cost records under Section 209 (I) (d) of the Companies Act, 1956 are not applicable to the Company.

9 According to information & explanations given to us and the records examined by us, the Company is generally regular in depositing statutory dues with the appropriate authorities. According to the records of the Company there are no material undisputed amounts payable in respect of Sales Tax, Income Tax, Custom Duty and Excise Duty, outstanding as on 31st March, 2014, for moe than 6 months from the date on which they became payable except for the Demand for ' 460,270/- for AY 2007-2008 towards Income Tax vide order passed u/s 143(3) against which the Company has paid '150,000/- and has preferred appeal with relevant authorities& is pending before ITAT, Similarly, in respect of AY 2009-10, the Demand for ' 370,480 towards Income Tax vide order passed u/s 143(3) against which the appeal with relevant authorities has been preferred and it is pending before CIT (Appeals).

10 The Company has not accumulated losses as on 31st Marchm 2014 and no cash losses in the immediately preceding financial year. The company has not incurred any cash losses during the financial year as well as during the immediately preceding financial year.

11 Based on our audit procedures & on the informations & explanations given by the management, we are of the opinion that, the Company has not incurred any cash loss during the financial year.

12 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, debantures and other securities.

13 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.

14 The Company is not dealing or trading in shares, securities, debentures and other investments, accordingly clause 4(xiv) of the order is not applicable.

15 According toth information and explanatons given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions,

16 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.

17 Accoding to informations & explanations given to us & on overall examination of the balance sheet , we report that no funds raised on short term basis have been use for long term investments and vice versa.

18 According to the information & explanations given to us, the Company has not made any preferential allottment of shares during the year, to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956, therefore the question of pricing of shares fone not arise.

19 The Company has not have any outstanding debentures at the year end.

20 The company has not raised any money by Public issue during the year covered by our report.

21 Based on the audit procedures performed and the information and explanationss 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 informaed of such case by the management.

                                           FOR J. K. SHAH & ASSOCIATES
                                                 CHARTERED ACCOUNTANTS
PLACE : MUMBAI                                              J. K. SHAH
DATED : 14th August, 2014.                                  PROPRIETOR