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 standalonefinancial statements are free from material mis-statement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the standalone financial statements. The procedures selected depend on 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 true and fair view 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 Company's ectors, 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 on the standalone financial statements.

Qualified Opinion

In our opinion the company has not complied with Accounting Standard 15 to the extent of not accounting / providing employees terminal benefits. Since the amount of terminal benefits is not quantified by the Management we are unable to specify the extent of overstatement of profit and understatement of current liabilities therefore.

Subject to above, In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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 Standalone Balance Sheet, of the state of affairs of the Company as at March 31, 2015;

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

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

1) As required by the Companies (Auditor's Report) Order,2015 ("the Order") issued by the central government of India in term of sub- section (11) of the 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 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 Standalone Balance Sheet, the Standalone Statement of Profit and Loss, and Standalone Cash Flow Statement dealt with by this Reports are in agreement with the books of account.

d) In our opinion, the aforesaid standalone financial statements comply with the 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 ectors as on 31 March, 2015, taken on record by the Board of ectors, none of the ectors is disqualified as on 31 March, 2015, from being appointed as a ector in terms of Section 164(2) of the Act.

f) With respect to the 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 standalone financial statement did not have any contingent liabilities.

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

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company

Annexure to the Independent Auditors' Report

(Referred to paragraph (1) under 'Report on other legal and regulatory requirements' of our report of even date)

i. In respect of Fixed Assets :

a. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

b. The Company has a regular programme of verification of its fixed assets which, in our opinion, is reasonable having regard to the size of the Company and the nature of its fixed assets. We have been informed that no material discrepancies were noticed on such verification as compared to book records.

c. Based on the information and explanation given by the management and on the basis of audit procedures performed by us, we are of the opinion that the Company has not disposed off substantial part of its fixed assets during the year and hence the going concern assumption is not affected.

ii. In respect of Inventories :

The Company does not hold any physical inventories at the year-end, hence this clause is not applicable.

iii. (A) The company has granted loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013.The year End Balance of such Loan was Rs. 2,66,16,799/-.

a. The rate of interest and other terms and conditions of the aforesaid unsecured loans taken by the company, are prima not prejudicial to the interest of the company.

b. The company is regular in receiving the principal amount and interest, wherever applicable, as per the agreed terms.

(B) The Company has not taken any loans, secured or unsecured, from the parties covered in the register maintained under section 189 of the Companies Act, 2013.

iv. In our opinion and according to the information and explanations given to us, internal control system need to be strengthened to make it commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets, and for the sale of goods. However, during the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

v. According to the information and explanations given to us, the company has not accepted any deposits from the public within the meaning of Section 73 to 76 and any other relevant provisions of the Companies Act, 2013 and accordingly, paragraph 3(v) of the Order is not applicable.

vi. The Central Government has not prescribed cost audit under Section 148(1) of the Companies Act,2013.

vii. In respect of Statutory dues :

a. According to the information and Explanation given to us and records of the Company as produced and examined by us, in our opinion, the Company is generally regular in Depositing undisputed statutory dues, including income tax, Sales tax, and other material statutory dues with the appropriate authorities.

b. As explained to us, the Company did not have any statutory disputed amounts payable in respect of Income-tax, Sales-tax, Service tax and other material statutory dues were in arrears as at 31st March 2015 for a period of more than six months from the date they became payable.

viii. The Company does not have accumulated losses at the end of the financial year. The Company has not incurred any cash losses during the financial year covered by our audit and in the immediately preceding financial year.

ix. Based on our audit procedures and according to the information and explanations provided to us by the management, we are of the opinion that the Company has not defaulted in repayment of dues to bank.

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

xi. According to the records of the Company the term loan raised were applied by the company for the purposes for which it was obtained.

xii. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us by the management, we have neither come across any instances of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by management.

                                                For V R BHABHRA & CO.
                                                Chartered Accountants
                                                         FRN: 112861W
                                                     Vimal R. Bhabhra
                                                           Proprietor
                                               Membership No: - 046043