Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to 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 principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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, that were operating effectively for ensuring the accuracy and completeness of the accounting records, 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.

Auditor's Responsibility

Our responsibility is to express an opinion on these 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 thereunder.

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 financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, 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 financial control relevant to the Company's preparation of the 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 an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls.

An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting

estimates made by the Company's Directors, 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 on the financial statements.

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:

i) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2015 and

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

iii) In the case of Cash Flow Statement, of the cash flows during the year ended on that date.

Report on Other Legal and regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 (the Order) issued by the Central Government in terms of sub- section 11 of 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 it appears from our examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid 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 directors as on March 31.2015 taken on record by the Board of Directors, none of the directors is disqualified as on March 31,2015, from being appointed as a director in terms of Section 164(2) of the Act.

ANNEXURE TO INDEPENDENT AUDITORS' REPORT

) Referred to in Paragraph (1) under the heading of "Report on Other Legal and Regulatory Requirements" of our report of even date)

The Annexure referred to in our report to the members of Amco India Limited (the Company') for the year Ended on 31st March, 2015. We report that:

(i) (a) The company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets;

(b) As explained to us, major fixed assets have been physically verified by the management in a phased &reasonable manner, which in our opinion is reasonable, as considered appropriate by the management. We have been explained that no material discrepancies were noticed on such verification as compared to book records.

(ii) (a) The inventory of the Company, except for the inventory with third parties & material in transit, has been physically verified by the management at reasonable intervals.

(b) The procedure of physical verification of inventory followed by the Management is in our opinion, 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 explanation given to us, the Company is maintaining proper records of inventory. As per the information and explanations given to us, the company had undertaken extensive stock verification during the year. Discrepancies noticed during physical verification of inventory were not material & have been properly dealt with in the accounts.

(iii) The company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act.

(iv) According to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business, for the purchase of fixed assets and for sale of goods.

(v) The company has not accepted any deposits from the public thus Paragraph 3(v) of Order is not applicable.

(vi) The central government has not prescribed maintenance of cost records for the Company under Section 148(1) of the Companies Act, 2013. Accordingly, Paragraph 3(vi) of the Order is not applicable.

(vii) (a) The Company is regular in depositing undisputed statutory dues including provident fund, employees' state insurance, income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities.

(b) According to the information and explanations given to us and the records of the company examined by us, there are no dues of Sales Tax, Income Tax, Service Tax and duties of excise as at 31 't March 2015 which have not been deposited on account of any dispute.

(c) No amount is required to be transferred to investor education and protection fund and thus Paragraph 3(vii)(c) of the Order is not applicable.

(viii) As at the end of the period covered by the audit, the Company does not have any accumulated losses. During the financial year ended 31st March, 2015, the Company has not incurred any cash loss. The Company had incurred a cash loss of Rs. 32,758,096 in the immediately preceding financial year.

(ix) The company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.

(x) The company has not given any guarantee for loans taken by others from bank or financial institutions.

(xi) The Company has applied term loans for the purpose for which they had been obtained.

(xii) No fraud on or by the company has been noticed of reported during the year.

                                                 For V. V. KALE & Co.
                                                 Chartered Accountants
                                                 FRN : 000897N

                                                 SD/-
PLACE : Noida, U.P.                              VIJAY V. KALE
DATE : 30.05.2015                                (Partner)
                                                 M. No. 080821