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 and presentation 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, wheuier 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.

Except as matters stated in Emphasis of Matter given below, 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 horn 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

Subject to the matters stated in Emphasis of Matter, in our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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, of the state of affairs of the Company as at 30th June 2015 and loss and its cash flow for the period ended on that date.

Emphasis of Matter

Without qualifying our report, we draw attention to

i. Though the Company has incurred losses far in excess of paid up capital and reserves, since the directors are looking for right opportunity to explore the similar line of business activity, the directors consider that it is appropriate to prepare the financial statements on going concern basis [Note 19].

ii. In respect of one inter corporate loan amounting to Rs. 89.10 lacs, no confirmation has been received from the lender company [Note 20].

iii. Note2.1.g regarding deferred tax assets.

Report on Other Legal and Regulatory Requirements

1. As required by Companies (Auditor's Report) Order, 2015 ('the order') issued by the central government of India 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 i of the 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 it appears from our examination of those books;

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

d. hi 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 the written representations received from the directors as on 30th June 2015 and taken on record by tile Board of Directors, none of the directors is disqualified as on 30th June 2015 from being appointed as a director in terms of Section 164 (2) of the Act; and

f. With respect to the other matters included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our Ýopinion and to the best of our information and according to the explanations given to us :

i. The Company does not have any pending litigations which would impact its financial position except as stated in para 7 (c) of annexure to Independent Auditor's Report,

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

iii. There were no amounts which required to be transferred to the Investor Education and Protection Fund by the Company.

Annexure referred to in our report of even date on the accounts for the year ended 30th June 2015.

(Referred to in our report of even date)

l.a) The Company has maintained proper records showing full particulars, including quantitative details and situation of all its fixed assets.

b) The fixed assets have been physically verified by the Management during the period at reasonable intervals and no material discrepancies were noticed.

c) None of the fixed assets have been disposed off during - the period.

2. The Company did not have any stock at the end of the period

3. The Company has not granted any loans, secured or unsecured, to companies, firms or other parlies covered in the register maintained under Section 189 of the Act.

4. hi our opinion and 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 inventory and assets and for the sale of goods and services.

5. In our opinion, and according to the information and explanations given to us, the Company has not accepted deposits as per the directives issued by the Reserve Bank of India under the provisions of Sections 73 to 76 or any other relevant provisions of die Act and the rules framed there under.

6. The Central Government has not prescribed maintenance of cost records under Section 148{1) of the Act, for any of die products of the Company.

7.(a)According to the records of the company, the company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, income tax, sales tax, cess and other statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, wealth tax, sale tax, service tax, custom duty and excise duty were outstanding as at 30th June, 2015 for a period exceeding six months from the date they became payable.

(c) According to the information and explanations given to us, diere are no dues of, sales tax, income tax, custom duty, wealth tax, excise duty and cess which have not been deposited on account of any dispute except ESI.

Nature of the     Amount       Forum where 
dues              (Rs-)        dispute is
                               pending

ESI             6,76,777/-     Joint Director,
                               Regional Office ESI, 
                               New Delhi.

8. In our opinion, the accumulated losses of the company are more than fifty percent of its net worth. The company has incurred cash losses during the financial period covered by our audit and in the immediately preceding financial year.

9. In our opinion and according to the information and explanations given to us, the Company does not have any borrowings from financial institution, bank or debenture holders.

10. 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,

11. In our opinion and according to the information and explanations given to us, The company has not raised any term loan during the period.

12. According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit.

                                      For S.D. Chopra & Assosciates

Place : New Delhi                             Chartered Accountants

Date  : August 26, 2015               Firm Registration No. 003789N

                                                        S.D. Chopra

                                                         Proprietor 

                                              Membership No. 082537